【YHI Y08 交流专区】友发国际 YHI International

臥龍先生

(轉帖)股海观潮　－　友发国际

友发国际　(YHI International)　目标价：0.55元
它今年正在进入可持续性收入回升阶段。现财年制造营收在产能扩充以及生产全面投入的带动下，预料会取得43％的年度增长，而这将有助于提高现财年的整体营收达19％。
制造业务的毛利率也因转向良好的产品组合而好转。55分这个目标价是根据下财年本益比为八倍计算出来的。
在撇开铝价风险因素后，对它的评级有利的因素还包括更好的盈利表现、可能与远轻铝业（Enkei)签署的技术转移协定，以及采取收购行动等等。维持“表现优于大市”评级。
友发国际昨日收报37分，没有变动。
(联昌国际研究，CIMB-GK Research）

[ 本帖最后由 臥龍先生 于 28-3-2007 07:51 AM 编辑 ]

臥龍先生

NOTICE IS HEREBY GIVEN THAT the Annual General Meeting of YHI International Limited will be held at

Raffles City Convention Centre, Level 4, Mercury Room, 2 Stamford Road, Singapore 178882 on Monday, 30 April 2007 at 10.30 a.m. for the following purposes:

AS ORDINARY BUSINESS
1. To receive and, if approved, to adopt the Audited Accounts for thefinancial year ended 31 December 2006 together with the Directors’Report and Auditors’ Report thereon
2. To declare a first and final dividend of 1.20 cents per share tax exempt (one-tier) for the financial year ended 31 December 2006 as recommended by the Directors
3. To approve Directors’ fees of S$135,000 for the financial year ended 31 December 2006
(2005: S$135,000)
4. To re-elect Mr Tay Tiang Guan who is retiring under Article 107 of the Articles of Association
5. To re-elect Mr Hee Theng Fong who is retiring under Article 107 of the Articles of Association
6. To re-elect Mr Henry Tan Song Kok who is retiring under Article 107 of the Articles of Association
7. To re-appoint Messrs PricewaterhouseCoopers, Certified PublicAccountants as auditors of the Company and to authorise the Directorsto fix their remuneration
8. To transact any other ordinary business which may be properly transacted at an Annual General Meeting.

AS SPECIAL BUSINESS
To consider and, if thought fit, to pass the following resolutions (with or without amendments) as Ordinary Resolutions:
9. THAT approval be and is hereby given to the Directors to offer andgrant options under the YHI Share Option Scheme (the “Scheme”) and toallot and issue from time to time such number of shares in the Companyas may be required to be issued pursuant to the exercise of optionsunder the Scheme, provided always that the aggregate number of sharesto be issued pursuant to the Scheme shall not exceed 15 per cent (15%)of the total issued share capital of the Company from time to time.

10. THAT the Directors be and are hereby authorised pursuant to theprovisions of Section 161 of the Companies Act, Cap. 50 (the “Act”) andRule 806 of the Listing Manual of the Singapore Exchange SecuritiesTrading Limited (“SGX-ST”) to allot and issue shares and convertiblesecurities of the Company on such terms and conditions and with suchrights or restrictions as they may deem fit PROVIDED ALWAYS THAT theaggregate number of shares and convertible securities to be issued
pursuant to this resolution shall not exceed fifty per cent (50%) ofthe issued share capital of the Company, of which the aggregate numberof shares and convertible securities to be issued other than on a prorata basis to existing shareholders shall not exceed twenty per cent(20%) of the issued share capital of the Company and that suchauthority shall continue in force until the conclusion of the nextAnnual General Meeting or the expiration of the period within which thenext Annual
General Meeting of the Company is required by law to be held, whicheveris the earlier, unless the authority is previously revoked or varied ata general meeting. For the purposes of this resolution, the percentageof issued share capital shall be based on the Company’s issued sharecapital at the time of the passing of this resolution after adjustingfor:

(a) new shares arising from the conversion or exercise of convertiblesecurities or from exercising share options for vesting of share awardsoutstanding or subsisting at the time of the passing of this resolutionprovided the options or awards were granted in compliance with thelisting manual; and
(b) any subsequent consolidation or subdivision of shares.

NOTICE IS ALSO HEREBY GIVEN THAT the Transfer Book and the Register ofMembers of the Company will be closed on 8 May 2007 for the purpose ofpreparing dividend warrants. Duly completed transfers received by theCompany’s Share Registrar, Tricor Barbinder Share RegistrationServices, at 8 Cross Street #11-00 PWC Building, Singapore 048424 up to5.00 p.m. on 7 May 2007 will be registered to determine shareholders’entitlement to the proposed dividend.

Members whose Securities Accounts with The Central Depository(Pte) Ltd are credited with shares at 5.00 p.m. on 7 May 2007 will beentitled to the proposed dividend.The first and final dividend of 1.20cents per share tax exempt (one-tier), if approved by members at theAnnual General Meeting will be paid on 22 May 2007.

臥龍先生

今天早上去參加了 YHI　的 AGM， MEETING ROOM　不大， 所以坐滿了參與者, 看來有 80 人左右吧...出席者每個人都有一份公司給的小禮物, 一個 YOKOHAMA 的 BAG. 此外 AGM 后還有東西吃..

個人覺得是個很好的經驗, 可以多了解公司的運作和未來動向, 有些是年報和新聞沒有公布的消息.

大师

原帖由 臥龍先生 于 30-4-2007 01:34 PM 发表
今天早上去參加了 YHI　的 AGM， MEETING ROOM　不大， 所以坐滿了參與者, 看來有 80 人左右吧...出席者每個人都有一份公司給的小禮物, 一個 YOKOHAMA 的 BAG. 此外 AGM 后還有東西吃..

個人覺得是個很好 ...

真的很不错。要当一名成功的企业家实在不简单。

大师

今天1.2cent div xd.

大师

Q1 result出来了，不是很理想。

smart_603

buy another 10 lots today.

臥龍先生

The Group’s turnover for 1Q of FY2007 of S$96.0 millionwas S$0.2 million or 0.2% higher than the S$95.8 million recorded in 1Qof FY2006.

Turnover from the manufacturing business increased by approximatelyS$8.6 million or 36.6% from S$23.5 million in 1Q of FY2006 to S$32.1million in 1Q of FY2007. The increase was primarily due to increasedoutput from additional production capacity in Suzhou, PRC.

-- 蘇州新工廠的貢獻不小哦, 那如果他們把那里的土地全用在生産, 那他們的生産量會增加一倍吧.

Turnover from the distribution business decreased by approximatelyS$8.4 million or 11.6% from S$72.3 million in 1Q of FY2006 to S$63.9million in 1Q of FY2007. The decrease was primarily due to exclusion ofYokohama tyre sales in PRC as a result of formation of a joint ventureentity in which the Group has a 49% stake.

-- 這個不了解

Distribution and administrative expenses were lower in 1Q of FY2007 ascompared to the same period of FY2006 mainly due to lower advertisingand promotional expenses and lower allowance for impairment of doubtfulreceivables. Finance costs in 1Q of FY2007 were higher as compared to1Q of FY2006 attributable to higher borrowing costs incurred.

Total Group’s gross profit margin in 1Q of FY2007 decreased by about1.8% as compared to 1Q of FY2006 attributable to lower gross marginfrom manufacturing business which was mainly affected by the risingaluminum prices and also operating losses due to diseconomies of scalein our Malaysia plant which is currently operating on 1 production line.

The Group’s profit before taxation increased by approximately S$0.3million or 3.7% from S$6.8 million in 1Q of FY2006 to S$7.1 million in1Q of FY2007.

Total current assets increased by approximately S$13.1 million due toincrease in receivables of approximately S$12.5 million, and ininventories of approximately S$4.4 million together with a reduction ofS$3.5 million in cash. The increase in trade receivables was due totiming difference and was in line with normal trading activities. Theincrease in inventories was primarily due to higher stockholdings inview of price increases from suppliers. The reduction in cash wasprimarily due to working capital changes.

The increase in available-for-sale financial assets of approximatelyS$0.4 million was due to additional investment in Hangzhou YokohamaTire Co Ltd.

The increase in investment in associated companies of about S$0.9million was due to share of profit contributed by our associates in OZS.p.A and Yokohoma Tire (Shanghai) Sales Co Ltd.

The increase in current liabilities of about S$8.5 million wasprimarily due to increase in trade payables of approximately S$2.6million from higher trading activities and an increase of about S$5.0million in current bank borrowings.

Our cash flow for the period showed a net decrease in cash of aboutS$4.2 million in 1Q of FY2007 as compared to a net decrease ofapproximately S$8.0 million in the same period last year primarily dueto lower capital expenditure spendings.

總得來說, 業績有小小的進步. 不過 cash 減少了. 債務增加了.

大师

http://info.sgx.com/webcoranncat ... ast.pdf?openelement
开发中东，中亚和非洲市场

大师

价量齐升，好兆头。

大师

休息够了，今天又在飚了

臥龍先生

YHI INTERNATIONAL LIMITED EYES F1 SPONSORSHIP AS IT REPORTS
NET PROFIT ATTRIBUTABLE TO EQUITY HOLDERS OF S$11.6 MILLION
ON AN IMPROVED REVENUE OF S$204.5 MILLION FOR 1HFY07

- Suzhou factory in the PRC had completed the installation of the additional 3
production lines at end June
- Gross Profit for the first half rose to S$46.2 million

Singapore, August 14, 2007 --SGX Mainboard-listed YHI International Limited (“YHI” or the “Group”), an established distributor of automotive and industrial products and an original design manufacturer (ODM) of alloy wheels, is in talks to be a sponsor in the inaugural Formula One racing event worldwide next year.
Mr. Richard Tay, Group Managing Director of YHI said: “The Group is currently in advanced negotiations to participate in the 2008 F1 event worldwide as an alloy wheel sponsor. This is in line with our overall globalization strategy as we believe it will help promote our corporate global image as we position ourselves in the premium league for automotive accessories. We would also like to take the opportunity to build global brand equity for our own proprietary brands, “Advanti Racing” and to enhance our market share in the multi-billion dollar global automotive accessories market.”

The Group’s Italian associate, OZ S.p.A, in which it has an approximately 35.5% stake, has been involved in successful F1 racing events in other parts of the world. Its premium range alloy wheels are used by many Formula 1 racing cars, such as BMW and Renault.

YHI intends to pursue its globalization strategy and also to explore M&A opportunities for future growth while positioning itself as a global leader in auto accessories – especially of premium brands. The Group will also work towards enhancing its own proprietary brands – Advanti Racing wheels and Neuton tyres to grow its revenue and earnings streams. YHI’s expansion plans are on track as it successfully completed the installation of 3 additional lines in Suzhou PRC in the first half of FY07, giving the Group a total production capacity of 14 production lines. YHI’s Suzhou factory will be operating with 6 production lines from second half of 2007. YHI’s manufacturing facilities are now located in China, Taiwan and Malaysia.

YHI today announced another set of profitable results for the first six months of FY2007. The Group reported a net profit attributable to equity holders of S$11.6 million on a turnover of S$204.5 million. On a quarterly basis, the Group registered a net profit attributable to equity holders of S$6.4 million on a turnover of S$108.5 million for Q2FY07. As compared to Q2FY06, the lower profit was due mainly to the absence of the one-time gain in negative goodwill effect of S$5.4 million from the acquisition of an associate company, which was recorded in Q2FY06. Excluding the negative goodwill effect, the Group’s profit attributable to equity holders in Q2FY07 would be increased by about S$0.8 million or 14.8%. For 1HFY07, the Group’s profit attributable to equity holders would have increased by S$0.9 million or 8.4%.

GOING FORWARD
Commenting on the Group’s first half year performance, Mr. Richard Tay, Group Managing Director of YHI said, “Our distribution sales are expected to remain strong. Neuton tyres have taken off well and more sizes are planned for distribution to various Group subsidiaries and networks to capitalize on market opportunities. Global aluminum prices remained volatile in the first half of 2007 and will put pressure on our manufacturing margins should this trend continue. However, we have progressed well with our expansion plans to forge ahead with our globalization strategy to increase our market share in the world market. To accelerate our growth, we will also actively explore M&A opportunities that provide strategic and synergistic value to the Group.”

臥龍先生

Turnover for YHI International increased3.4% yoy to S$204.5m for 1HFY07, with the manufacturing businessincreased by approx 32.5%yoy, attributable to increased output fromadditional production capacity in Suzhou, PRC. Turnover from thedistribution business decreased by approx 7.4% yoy to S$133.1m, causedby the exclusion of Yokohama tyre sales in PRC as a result of formationof a joint venture. Profit after taxation and minority interestsdecreased by 27.9% yoy to S$11.6m in 1HFY07. Excluding the recognitionof the one-time gain in negative goodwill effect of S$5.4m recorded in1HFY06, profit attributable to equity holders would have increased by8.4%. Outlook:Global aluminium prices remained volatile in 1H07 andwill put pressure on the margins should this trend continue. However,the company has progressed well with its expansion plans to forge aheadwith globalization strategy to increase market share in the worldmarket. To accelerate growth, the group will also actively exploreM&A opportunities that provide strategic and synergistic value tothe group.” (YHI International)

臥龍先生

1.

Date of change of Interest

17-08-2007

2.

Name of Registered Holder

Mdm Lee Suat Kwan

3.	Circumstance(s) giving rise to the interest or change in interest	Open Market Purchase
	# Please specify details	Open Market Purchase by spouse, Mdm Lee Suat Kwan

4.	Information relating to shares held in the name of the Registered Holder
	No. of Shares held before the change 420,000   As a percentage of issued share capital 0.0718 % No. of Shares which are subject of this notice 62,000   As a percentage of issued share capital 0.0107 % Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0.39   No. of Shares held after the change 482,000   As a percentage of issued share capital 0.0825 %

臥龍先生

Claudio Bernoni, president of Italian rim-maker OZ SpA, an associate company of Singapore mainboard-listed YHI International, said in a recent interview, 'Our racing wheel is lighter by an average of 50 g each year, and we are hoping to bring the F1 wheel - made of forged magnesium - down to 3.6 kg by 2008.' OZ supplies wheels for car races like Formula One (F1), World Rally Championships and Indy Racing League. Its alloy wheels are used by F1 racing cars such as BMW and Renault. OZ has a 70-men team that focuses on producing racing wheels for each client. An F1 team typically uses more than 300 rims each year and OZ manufactures more than 25,000 racing wheels annually. Every wheel supplied for the F1 race is priced at between 1,000 euros ($2,101)and 1,500 euros. (BT)

arnofren

原帖由 臥龍先生 于 30-4-2007 01:34 PM 发表
今天早上去參加了 YHI　的 AGM， MEETING ROOM　不大， 所以坐滿了參與者, 看來有 80 人左右吧...出席者每個人都有一份公司給的小禮物, 一個 YOKOHAMA 的 BAG. 此外 AGM 后還有東西吃..

個人覺得是個很好 ...

哇。。你还是拿 leave 去的。。。

臥龍先生

原帖由 arnofren 于 14-9-2007 08:30 PM 发表


哇。。你还是拿 leave 去的。。。

對啊...

arnofren

原帖由 臥龍先生 于 16-9-2007 09:17 AM 发表


對啊...

你都是长期投资？没有玩 contra？好像没听你说过卖任何股票。

臥龍先生

原帖由 arnofren 于 30-10-2007 01:51 AM 发表

你都是长期投资？没有玩 contra？好像没听你说过卖任何股票。

我不會玩股票, 也沒有時間. 所以選擇長期持有. 非萬不得巳不會賣出的 . 是有賣出過, 因為手頭有一點緊. 但是后來有 spare cash 后又買回來了.

arnofren

原帖由 臥龍先生 于 30-10-2007 08:53 AM 发表


我不會玩股票, 也沒有時間. 所以選擇長期持有. 非萬不得巳不會賣出的 . 是有賣出過, 因為手頭有一點緊. 但是后來有 spare cash 后又買回來了.

因为我看到你做不少 research。。。
算不算 put all eggs in 1 basket ？

那你不怕中国泡沫 －＞ 股灾 吗？