5005 UNISEM 友力森 估计2017 年EPs=26sen,pe=15 ,stock price=rm 3.90

只供参考,进出自负.

2017年3月23日星期四

5005 UNISEM 友力森 估计2017 年EPs=26sen,pe=15 ,stock price=rm 3.90

--友尼森主席兼董事经理谢圣德表示，苹果公司只是该公司的其中一个客户，儘管苹果公司的销售放缓，  但友尼森仍有其他手机客户，如三星、华为、联想和小米等。公司业务的多元化，包括涉及汽车业务、  电子消费业务.
--友力森受惠于强势美元,人民币走强以及多元化终端应用市场策略奏效，汽车市场已成为半导体领域主要  成长来源，更多晶片用于控制汽车灯光、通讯、安全、资讯娱乐等功能。同时油电混合以及电力车也推高  了半导体晶片需求。
--友立森表示，MEMS会是该公司未来的科技核心以及未来成长策略。友立森位于成都厂房，完成了占地1200平方尺，等级100的清洁室以支持MSMS发展。

友立森也引进了薄膜辅助模型技术以支持该公司在MEMS上的腔封装的发展。

“薄膜辅助模型技术有利于友立森在汽车和工业上的MEMS式的压力感应器，同时这项技术可以应用在感应压力、湿度、温度、气体侦测等消费品上。”

全球MEMS装备市场预料在2021年将成长至200亿美元（约800亿令吉），去年全球MEMS市场为119亿令吉（471亿9000万令吉）。

--友力森资产负债表健全，截至31-12-2016的现金达2.53亿令吉。借贷为5161万,净现金有2.02亿,累计净利达6.03亿 ,nta=1.92

该公司稳健的资本开销政策，使它有能力派发股息.

https://www.unisemgroup.com/只供参考,进出自负.

How to invest in technology stock in Malaysia:

Example are DNEX, INARI, UWC, MYEG, UNISEM, PENTA, D&O, DSONIC, MI.

https://malaysiainvestment88.blogspot.com/2022/09/how-to-invest-in-technology-stock-klse-stock-series-Malaysia.html

Unisem: Positioned for a Rebound?

Over the past six years, Unisem (M) Berhad has evolved from a cost-focused OSAT player into a technology-driven, sustainability-aligned enterprise.

This transformation involved embedding ESG principles and digitalisation into its operations, expanding its role to a collaborative innovation partner, and investing in modern, environmentally sustainable facilities.

Despite this strategic shift, there was no sustained uptrend in profits from continuing operations. While profit after tax in 2022 was approximately three times higher than in 2019, by 2024 it had declined to a level below that of 2019.

Operationally, there was little improvement in profit margins over the six-year period, although the Selling, General and Administrative margin remained stable. As a result, ROE declined at 12 % per year compounded over the period.

According to the company, this performance stems primarily from cyclical demand weakness, underutilised capacity, and cost escalations. These challenges have masked the operational improvements and technology investments the company has made.

However, its capacity investments, customer alignment, and cost control suggest it is well-positioned to rebound once demand normalizes.

To track Unisem’s recovery, investors should watch for rising semiconductor demand and improved plant utilisation. Margin and ROE improvement would signal better cost absorption and capital efficiency. New customer wins and progress on technology and ESG goals would further support a sustainable rebound.