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MIM (Metal Injection Molding) has a good layout, coupled with a warm

2017-12-18

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MIM (Metal Injection Molding) has a good layout, coupled with a warming up of the cloud server chassis business, and the chassis manufacture Chenming (3013) has shown a big turnaround for good. The third quarter financial report is bright and record high. This quarter saw an influx of orders from Apple, revenue is going for a new high of 1.3 billion NTD, driving the annual revenue to reach a record high of 4.8 billion NTD, and EPS will pass 1.14 NTD last year. Chenming’s stock price started its offensive last week and continued strong on Monday. It reached the highest price of 22.65 NTD, soaring 5.8% or 1.25 NTD. It has reached a new record high. It has risen 19.5% since last week. Foreign investment is the main promoter. Increased over one thousand shares.

Chenming extends from the traditional PC chassis business to the server chassis business. In recent years, it has also introduced the MIM and NMT (Nano Injection Molding) methodologies from Japan to aggressively attack the metal parts market of communication products. In the MIM field, it becomes the Apple's qualified supplier mainly supplies the Lightning connector internal parts for Apple hand hold devices (iPhone, iPad) charging slot.

The company's last quarter financial report is beautiful, with 1.276 billion NTD in single-quarter revenue, an increase of 8.1% in the quarter, an annual growth rate of 6.6%, a record high, gross profit margin increased significantly to 17.39%, and the profitability rate hit 10%. It reached 10.48%, driving single-quarter operating profit to a record high of 134 million NTD, quadrupling its quarterly growth, increasing 32.7% year-on-year, and achieving a record high of 111 million NTD after tax, quarterly increase of 1.4 times, and annual growth of 46%. EPS is 0.65 NTD at the first half of the year. Accumulated taxes for the first three quarters totaled 167 million NTD, an increase of 83.5% year-on-year, and an EPS is 0.98NTD.

The legal person pointed out that the results of Chenming Ningbo plant last quarter benefited from the increasing demand for orders from Quanta (2382), the supplier's Facebook (FB) cloud server, which was a major contribution to the business. In the fourth quarter, Apple orders surged in. In November, revenue rose to 464 million NTD, a jump of 19.8% from the previous month. The annual growth rate was 12.12%. The momentum continued to be strong in December. It is estimated that the single-quarter revenue will have a chance to challenge a record high 1.3 billion NTD. The annual revenue is expected to reach 4.8 billion NTD, and the EPS will pass 1.14 NTD last year.
 
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