vitrox is listed at the half end year at 2005. according to peter lynx sectioning, it is under 周期性行业（电子业），也是快速增长的公司。
1. if you study its EPS growth, it is not attractive. But let us go into its financial report. In 2003, vitrox just a company that earning 6million a year. 2007, it is expected to record 12million net profit a year. means, it double its net profit over 5 years! if only compare 2006 and 2007, its EPS growth is 21%, current PE at 10 (when i bought RM0.79@1000 units).
2.Its average ROE is 29%, NTA is 0.25, compare to its issue share at RM0.10 each. with only listing more than 2 years, its NTA has been double.
3. under its industry current cycle (E&E) , this is recesscion time, but virtox still able to maintain a high growth in profit. it is a good news. 1st, you can wait for E&E growing, and virtox will be growing greater. 2nd, they are not facing any new competitors in next two years.
4. they have 10million cash in hand and no debts, means they are net cashflow company. currently, their net cash from operating activities still greater than cash used in investing activities.
5. according to bursa recent announcement, only 480 small shareholders of vitrox. this does not fulfill the requirement (1000 people). So, vitrox is expected to take some action to promote their share or giving bonus. thier NTA is RM0.25, which enable for at least 1 to 1 bonus issue.
6. Vitrox has invested in china to set up a branch. this is predicted to bring positive profit in the future. they also set up their office at USA. the only thing to worry is malaysia ringgit is too strong and will affected vitrox revenue growth.
7. there is no investor /mutual manager invest in this company as up to date.
8. their equities/liabilities is 9-12 times. which means they control debts very well and using cashflow from operating activities to maintain their growth.
9. according to PE=10, EPS growth is 29%, vitrox share price can up to 2 to 3 times.
any different idea, please let me know. i am willing to learn from mistake.
Goodluck!
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2007年10月30日星期二
vitrox (0097) mesdaq research
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VITROX 于16/11/07公布第3季度的业绩。它获得RM0.0259，超乎预期的盈利。至目前为止，它的盈利已超越去年的全年盈利。全年盈利预测，我把它上调为 RM0.086
MARGIN OF SAFETY 也变成 RM0.94. 以目前的标价，还值得购入。
目前，对vitrox 最有利的事情，莫过于电子业正在复苏。台积电的盈利回升，UNISEM 和马太平洋的盈利也上升。九月份的电子销售额，更是几年来的首次回升。以vitrox在困境中的盈利能力，可以相信它的高速成长时代已经来临。
基于它的股权分散仍未符合证交所的规定，这个季度，管理层将会向基金经理推荐vitrox的投资。因此，我把近期累积的对象，列vitrox 为首选。
购入价格，将定在RM0.85 以下。
As i said in November 07,i am waiting a chance to buy in vitrox at RM0.85 or below. After waiting and waiting, there is no chance for me.
But,what a suprisingly moment, these few days,vitrox share price just fall sharply from RM0.90 to RM0.68.And as updated now,there is no news for this sharp falling.
I bought in 2000 units vitrox @RM0.69.Currently, i hold 4000 units@ average price of RM0.77 (include bokerage fees).
I already email Vitrox and look for a visit to their company and factory at 5 Feb 08.After the visit,i will post the photo and results here.
I am wondering what type of business vitrox is doing and their management. Do they give out dividend or bonus? When is vitrox established? Did they suffer any loss since then?
Sorry im new in this field. I learned alot from your blog. Thanks for your kindness and sharing.
Hello,very happy to meet you here and welcome!
Vitrox business,you can read through my visit article or google vitrox website.
they are not distributing any bonus and 1sen dividend every year only as they are expanding AOI.
The history can get from website,too.we only have their record after Vitrox being listed.
thx!
近来Vitrox 大减价，我忍不住，买进了2000股。买价是RM0.63。比管理层增持的股价更低。
哈哈。。。。
目前，共持有6000股，每股平均价是RM0.726。
正在等待每股RM0.02 的免税股息。
回报率是2.75%。
13/8 的时候，排队在RM0.60， 结果不小心被人卖了1000股。
所以现在的总持股是7000股。平均买入价格是RM0.71。
正在等待半年的业绩报告。
hi
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