reports
Hana Microelectronics Plc: 1 director
A director at Hana Microelectronics Plc bought 200,000 shares at 16.000THB and the significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ...
- Kitpon Praipaisarnkit
Hana Microelectronics (HANA TB) - 4Q24: Net Loss From High Impairment
HANA reported a 4Q24 net loss of Bt1.7b, significantly dropping yoy and qoq. The results were far below our and consensus estimates. Earnings missed due to the impairment of non-financial assets. Stripping out the exceptional item, core profit came in at Bt192m (-274% yoy, -237% qoq), which was also below our forecast. The key misses were lower-than-expected gross profit margin and revenue as well as higher-than-expected SG&A-to-sales. Maintain HOLD. Target price: Bt22.00.
- Arsit Pamaranont
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kitpon Praipaisarnkit
tHAILAND Daily: Friday, February 28, 2025
Results Amata Corporation (AMATA TB/BUY/Bt23.90/Target: Bt35.00) 4Q24: Net income misses expectations but still robust yoy and qoq. AP Thailand (AP TB/BUY/Bt8.70/Target: Bt11.30) 4Q24: Earnings in line; aggressive strategy for 2025. Bumrungrad Hospital (BH TB/BUY/Bt183.50/Target: Bt232.00) 4Q24: Strong 4Q24 earnings attributable to tax benefit. Hana Microelectronics (HANA TB/HOLD/Bt20.10/Target: Bt22.00) 4Q24: Net loss from high impairment. Indorama Ventures (IVL TB/BUY/Bt19.30/Target: Bt30.00)...
- Kitpon Praipaisarnkit
Hana Microelectronics (HANA TB) - 3Q24: Lacklustre Earnings Due To Sig...
HANA reported 3Q24 net profit of Bt406m (-45 yoy, +8% qoq), 17% and 37% below our and consensus estimates respectively. Earnings missed due to lower-than-expected gross profit margin and revenue as well as higher-than-expected SG&A-to-sales. Gross margin dropped yoy and qoq to 6.2% due to many issues in 3Q24 such as a baht appreciation, lower sales and higher operating costs. We maintain our forecasts until we get more information from its analyst meeting. Maintain BUY. Target price: Bt48.00.
- Arsit Pamaranont
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
- Thanawat Thangchadakorn
Thailand Daily - Thursday, November 14, 2024
KEY HIGHLIGHTS Results CP ALL (CPALL TB/BUY/Bt63.00/Target: Bt85.00) 3Q24: Stronger-than-expected earnings. Electricity Generating PCL (EGCO TB/BUY/Bt113.00/Target: Bt150.00) 3Q24: Strong 3Q24 results as expected. Hana Microelectronics (HANA TB/BUY/Bt35.00/Target: Bt48.00) 3Q24: Lacklustre earnings due to significant decline in gross profit margin. Plan B Media (PLANB TB/BUY/Bt7.35/Target: Bt9.00) 3Q24: Earnings in line; expect earnings growth in 4Q24 due to the high season. Upgr...
- Anas Fitri Bin Ahmad
- Benjaphol Suthwanish
- Chong Lee Len
- Desmond Chong Chee Wai
- Heidi Mo Jinghui
- John Cheong Ming Chern
- Julia Pan Mengyao
- Kampon Akaravarinchai
- Kitpon Praipaisarnkit
- Kong Ho Meng
- Llelleythan Tan Tan
- Malaysia Research Team
- Ming San Soong
- Stevanus Juanda
- Tanaporn Visaruthaphong
- Wei Xiang Ku
Regional Morning Notes - Thursday, November 14, 2024
GREATER CHINA Results Tencent Holdings (700 HK/BUY/HK$403.80/Target: HK$570.00): 3Q24: Solid earnings beat; mini shop and potential blockbuster as key catalysts. INDONESIA Results Aspirasi Hidup Indonesia (ACES IJ/BUY/Rp835/Target: Rp1,200): 3Q24: NPAT up 13.7% yoy; slightly above consensus expectations. MALAYSIA Results Malaysia Marine and Heavy Engineering Holdings (MMHE MK/BUY/RM0.44/Target: RM0.70): 1H24: Positively surprises on project cost claims. Marine segment still weakened by competi...
PTT PTT PUBLIC COMPANY LIMITED
BN2 VALUETRONICS HOLDINGS
5186 MALAYSIA MARINE AND HEAVY ENGINEERING HOLDINGS BHD
PLANB PLAN B MEDIA
AWX AEM HOLDINGS
Z74 SINGAPORE TELECOMMUNICATIONS LIMITED
HANA HANA MICROELECTRONICS PCL
ACES PT ACE HARDWARE INDONESIA TBK
00700 TENCENT HOLDINGS LTD.
CPALL TB CP ALL
HAPL HAP SENG PLANTATIONS HOLDINGS BHD
VST VSTECS BHD
- Kitpon Praipaisarnkit
Thailand Electronics - Core Profit Should Drop Qoq Due To Lower GPM Fr...
We expect 3Q24 combined core profit of the Thai electronic sector to improve 5% yoy due to higher revenue and better gross margin but drop 10% qoq from flat revenue and lower gross margin. Gross margin might not be strong in this quarter due to the impact of the baht appreciation. Looking ahead, we expect to see better core operation in 4Q24 and 2025. We maintain OVERWEIGHT on the sector with HANA and KCE as our top picks.
- Kitpon Praipaisarnkit
Hana Microelectronics (HANA TB) - Expect Moderate Revenue Growth In 3Q...
We expect HANA to post moderate revenue growth in 3Q24 due to the mix of positive and negative revenue growths of many segments. Gross margin would be pressured by a baht depreciation, but we believe revenue growth and the efficiency improvement of some operations will underpin the overall gross margin of HANA. We still like HANA and believe this is the upcycle for the electronics sector. Maintain BUY. Target price: Bt48.00.
- Benjaphol Suthwanish
- Kitpon Praipaisarnkit
- Anas Fitri Bin Ahmad
- Benjaphol Suthwanish
- Carol Dou Xiao Qin
- Damon Shen
- Desmond Chong Chee Wai
- Jieqi Liu
- John Cheong Ming Chern
- Johnny Yum Chung Man
- Julia Pan Mengyao
- Keith Wee Teck Keong
- Kitpon Praipaisarnkit
- Ming San Soong
- Paula Ruth
- Shirley Wang Xueyi
- Stella Guo Yuting
- Sunny Chen
Regional Morning Meeting Notes: Wednesday, August 28, 2024
GREATER CHINA Results Anta (2020 HK/BUY/HK$71.65/Target: HK$109.60) 1H24: Results beat. Fila's guidance slightly lowered; new brands performed well. China Overseas Property Holdings (2669 HK/BUY/HK$4.63/Target: HK$7.20) 1H24: Results meet expectations; higher dividend payout ratio. Hansoh Pharmaceutical Group Company (3692 HK/BUY/HK$18.22/Target: HK$27.00) 2Q24: Margins deteriorate; automation demand outlook remains sluggish. Shenzhen Inovance (300124 CH/BU...
AS7 ANTA SPORTS PRODUCTS LTD.
600809 SHANXI XINGHUACUN FEN WINE FACTORY CO. LTD. CLASS A
V03 VENTURE CORPORATION LIMITED
1295 PUBLIC BANK BHD
BN2 VALUETRONICS HOLDINGS
4197 SIME DARBY BHD.
AWX AEM HOLDINGS
558 UMS HOLDINGS LIMITED
NANO NANOCO GROUP
300124 SHENZHEN INOVANCE TECHNOLOGY CO. LTD CLASS A
HANA HANA MICROELECTRONICS PCL
ERAA ERAJAYA SWASEMBADA
VALUE VALUE8 N.V.
02669 CHINA OVERSEAS PROPERTY HOLDINGS LIMITED
INRI INARI AMERTRON BHD
RHBBANK RHB BANK BHD
TXG 10X GENOMICS INC CLASS A
UMSH UMS HOLDINGS LTD
FRKN FRENCKEN GROUP LTD
SCGP SCG PACKAGING PCL
AZTECH NANOFILM TECHNOLOGIES INTERNATIONAL
MZH HANSOH PHARMACEUTICAL GROUP
3692 AEM HOLDINGS LTD
AEM 123FAHRSCHULE SE
123F AZTECH GLOBAL LTD
8AZ 029 GROUP SE
Z29 CTRIP.COM INTERNATIONAL
- Kitpon Praipaisarnkit
Hana Microelectronics (HANA TB) - 2Q24: Earnings Miss Our And Consensu...
The company reported a net profit of Bt376m (-41% yoy, +20% qoq) for 2Q24, 20% below our consensus estimate due to non-core items. Stripping out the non-core items, core profit would have been in line. We see signs of revenue recovery. 2Q24’s revenue was flat yoy and increased qoq. Despite a yoy decline in gross margin, gross margin continued to increase qoq to 12.4%. We revise 2024-25 earnings down to factor in the lower-than-expected net profit in 1H24 and roll over valuation to 2025. Maintain...
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
- Thailand Research Team
- Thanawat Thangchadakorn
Thailand Daily - Thursday, August 15, 2024
KEY HIGHLIGHTS Strategy Uncertainties Arise as Court Removes PM from Office The court’s verdict raises concerns for the equities market and sector regarding policy continuity and economic stimulus, especially commerce. Results Central Plaza Hotel (CENTEL TB/SELL/Bt32.75/Target: Bt46.00) 2Q24: Weaker-than-expected results. CH Karnchang PCL (CK TB/BUY/Bt18.00/Target: Bt26.50) 2Q24: In line with expectations; expect volatility from polit...
ORI ORIGIN PROPERTY
CPF CHAROEN POKPHAND FOODS PUBLIC CO. LTD.
TOP THAI OIL PUBLIC CO. LTD.
CENTEL CENTRAL PLAZA HOTEL
HANA HANA MICROELECTRONICS PCL
SAWAD SRISAWAD CORPORATION PUBLIC COMPANY LTD
KCE KCE ELECTRONICS PUBLIC CO. LTD.
PSH PRUKSA HOLDING PCL
CK CH. KARNCHANG PUBLIC CO LTD
ONEE THE ONE ENTERPRISE PCL
- Adrian Loh Tzum Yung
- Desmond Chong Chee Wai
- Johnny Yum
- Kitpon Praipaisarnkit
- Kong Ho Meng
- Philip Wong
- Stevanus Juanda
- Wei Xiang Ku
Regional Morning Meeting Notes: Monday, June 10, 2024
INDONESIA Strategy Rally in 2H24 Likely Our top picks. Banking – BBCA, BBNI, BMRI, BBTN; property – BSDE, CTRA; technology – BUKA; consumer – CMRY; retail – ACES; infrastructure – JSMR. MALAYSIA Update Duopharma Biotech (DBB MK/BUY/RM1.25/Target: RM1.39) Public sector should anchor 2025 earnings as private sector sales outlook appears muted. Maintain BUY with a target price of RM1.39. Westports Holdings (WPRTS MK/HOLD...
7148 DUOPHARMA BIOTECH
JSMR PT JASA MARGA (PERSERO) TBK CLASS B
VST HOLDINGS LTD.
BMRI PT BANK MANDIRI (PERSERO) TBK
BBCA PT BANK CENTRAL ASIA TBK
BSDE PT BUMI SERPONG DAMAI TBK
HANA HANA MICROELECTRONICS PCL
5162 VSTECS
ACES PT ACE HARDWARE INDONESIA TBK
WPRTS WESTPORTS HOLDINGS BHD
KCE KCE ELECTRONICS PUBLIC CO. LTD.
MASS 908 DEVICES
BUKA BUKALAPAK.COM PT TBK
TSVT 2SEVENTY BIO INC
SVI SVI PCL
BBTN BANK TABUNGAN NEGARA PERSERO TBK PT
BBNI BANK NEGARA INDONESIA PERSER
CMRY PT CISARUA MOUNTAIN DAIRY TBK
DELTA DELTA ELECTRONICS
Z29 029 GROUP SE
VST VSTECS BHD
- Bella Lu Yifei
- Desmond Chong Chee Wai
- Heidi Mo Jinghui
- Jack Goh Tooan Orng
- John Cheong Ming Chern
- Julia Pan Mengyao
- Kasemsun Koonnara
- Ken Lee
- Kitpon Praipaisarnkit
- Kong Ho Meng
- Ming San Soong
- Nurul Nazira Binti Abdullah
Regional Morning Notes: Thursday, May 23, 2024
GREATER CHINA Sector Automobile Weekly: PEV sales drop wow due to high comparison base. Maintain MARKET WEIGHT. Top BUYs: Geely, CATL and Tuopu. Top SELLs: Li Auto and XPeng. Results Kuaishou (1024 HK/BUY/HK$58.15/Target: HK$85.00) 1Q24: Solid earnings beat; softer 2Q24; HK$16b share repurchase plan. Pinduoduo (PDD US/BUY/US$145.45/Target: US$200.00) 1Q24: Robust earnings beat; stro...
300014 EVE ENERGY CO. LTD. CLASS A
GRU GEELY AUTOMOBILE HOLDINGS LIMITED
5168 HARTALEGA HOLDINGS BHD.
STEC SINO-THAI ENGINEERING & CONSTRUCTION PCL
5681 PETRONAS DAGANGAN BHD.
ADVANC ADVANCED INFO SERVICE PUBLIC CO. LTD.
KBANK KASIKORNBANK PUBLIC CO. LTD.
SCB SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED
M3I MINTH GROUP LIMITED
HANA HANA MICROELECTRONICS PCL
002340 GEM CO. LTD. CLASS A
5Z0 ZHONGSHENG GROUP HOLDINGS LTD.
01316 NEXTEER AUTOMOTIVE GROUP LIMITED
002709 GUANGZHOU TINCI MATERIALS TECHNOLOGY CO LTD CLASS A
601689 NINGBO TUOPU GROUP CO. LTD. CLASS A
01585 YADEA GROUP HOLDINGS LTD.
2333 GREAT WALL MOTOR CO. LTD. CLASS H
1211 BYD COMPANY LIMITED CLASS H
02238 GUANGZHOU AUTOMOBILE GROUP CO. LTD. CLASS H
PDD PINDUODUO INC. SPONSORED ADR CLASS A
KCE KCE ELECTRONICS PUBLIC CO. LTD.
SSG SHENG SIONG GROUP LTD
CPALL TB CP ALL
SWB SUNWAY BHD
TXG 10X GENOMICS INC CLASS A
338 WEICHAI POWER
1772 GANFENG LITHIUM CO. LTD. CLASS H
300750 CONTEMPORARY AMPEREX TECHNOLOGY CO. LTD. CLASS A
3606 FUYAO GLASS INDUSTRY GROUP CO LTD-H
603305 NINGBO XUSHENG AUTO TECHNOLOGY (A)
01024 KUAISHOU TECHNOLOGY CLASS B
002920 HUIZHOU DESAY SV AUTOMOTIVE CO LTD
123F 123FAHRSCHULE SE
CEB CAPE EMS BERHAD
Z29 029 GROUP SE
02015 LI AUTO INC
09868 XPENG INC
BTG BETAGRO PUBLIC COMPANY LIMITED
600699 JOYSON ELECTRONICS CORP
- Kitpon Praipaisarnkit
Hana Microelectronics (HANA TB) - Seeing Brighter Outlook Ahead; Upgra...
We expect HANA’s revenue and gross margin to increase qoq in 2Q24 and continue to recover in 2H24, mainly supported by a recovery in demand for many products and contribution of more SiC. We also believe that negative factors, such as a minimum wage hike, rising raw material prices, and US-China tariffs will not have a huge impact on HANA’s earnings. Upgrade to BUY. Target price: Bt52.00.
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
Thailand Daily - Tuesday, May 21, 2024
KEY HIGHLIGHTS Sector Finance Expect credit cost to continue improving; macro factors will facilitate growth. Upgrade to OVERWEIGHT. Update Hana Microelectronics (HANA TB/BUY/Bt41.25/Target: Bt52.00) Seeing brighter outlook ahead. Upgrade to BUY. Minor International (MINT TB/BUY/Bt33.00/Target: Bt39.00) No surprises going into high season of travel in 2Q24.
- Adrian Loh Tzum Yung
- Bella Lu Yifei
- Benjaphol Suthwanish
- Jacquelyn Yow Hui Li
- Jonathan Koh
- Jun Sian Tan
- Keith Wee Teck Keong
- Ken Lee
- Kitpon Praipaisarnkit
- Leow Huey Chuen
- Stevanus Juanda
- Tanaporn Visaruthaphong
Regional Morning Meeting Notes: Tuesday, May 21, 2024
GREATER CHINA Initiate Coverage Joyson Electronics Corp (600699 CH/BUY/Rmb16.71/Target: Rmb26.00) Riding on the vehicle electrification and intelligentisation trends. Initiate coverage with BUY. Target price: Rmb26.00. Results Li Auto (2015 HK/SELL/HK$99.90/Target: HK$70.00) 1Q24: Results miss estimates with unexpected operating loss. Cut target price from HK$85.00 to HK$70.00. Maintain SELL. INDONESIA Update United Tractors (UNTR IJ/SELL/Rp22,850/Target: Rp20,...
FCT FRASERS CENTREPOINT TRUST
UNTR PT UNITED TRACTORS TBK
CENT CENTRATAMA TELEKOMUNIKASI INDONESIA
1295 PUBLIC BANK BHD
TS0U OUE COMMERCIAL REAL ESTATE INVESTMENT TRUST
AJBU KEPPEL DC REIT
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
AW9U FIRST REAL ESTATE INVESTMENT TRUST
HANA HANA MICROELECTRONICS PCL
O5RU AIMS APAC REIT
SK6U SPH REIT
SAWAD SRISAWAD CORPORATION PUBLIC COMPANY LTD
CDREIT CDL HOSPITALITY TRUSTS
SUN SUNTECH SA
KREIT KEPPEL REIT
SGREIT STARHILL GLOBAL REIT
MLT MAPLETREE LOGISTICS TRUST
FEHT FAR EAST HOSPITALITY TRUST
MTC MUANGTHAI CAPITAL PCL
PREIT PARKWAYLIFE REAL ESTATE
SCGB SUNWAY CONSTRUCTION GROUP BH
FHT MAPLETREE INDUSTRIAL TRUST
KLK FRASERS HOSPITALITY TRUST
SASSR KUALA LUMPUR KEPONG BHD
CNNU SASSEUR REAL ESTATE INVESTMENT TRUST
TXG CROMWELL EUROPEAN REIT
CICT 10X GENOMICS INC CLASS A
LREIT SP CAPITALAND INTEGRATED COMMERCIAL TRUST
TIDLOR LENDLEASE GLOBAL COMMERCIAL REIT
CLCT NGERN TID LOR PCL
FLT CAPITALAND CHINA TRUST
ME FRASERS LOGISTICS & COMMERCIAL TRUST
DCREIT 23ANDME HLDG CO
MPACT DIGITAL CORE REIT
CLAS MAPLETREE PAN ASIA COMMERCIAL TRUST
CLAR CAPITALAND ASCOTT TRUST
EREIT CAPITALAND ASCENDAS REIT
Z29 ESR-LOGOS REIT
02015 029 GROUP SE
600699 LI AUTO INC
JOYSON ELECTRONICS CORP
- Kitpon Praipaisarnkit
Hana Microelectronics (HANA TB) - 1Q24: Earnings Miss Our And Consensu...
The company reported a net profit of Bt313m (+18% yoy, +151% qoq), 10% below consensus estimate. Net profit surged yoy and qoq due to a sharp return of gross margin from: a) lower expenses of defective silicon SiC wafer, b) better forex movement, and c) lower utilities expenses. We remain cautiously optimistic on HANA in 2Q24 due to the unclear recovery of consumer electronics products. Maintain HOLD with a target price of Bt37.00.
- Arsit Pamaranont
- Benjaphol Suthwanish
- Kampon Akaravarinchai
- Kasemsun Koonnara
- Kitpon Praipaisarnkit
- Tanaporn Visaruthaphong
Thailand Daily - Wednesday, May 15, 2024
KEY HIGHLIGHTS Results Amata Corporation (AMATA TB/BUY/Bt22.70/Target: Bt30.00) 1Q24: Results miss on lower gross margin. Bangkok Expressway and Metro (BEM TB/BUY/Bt8.20/Target: Bt11.60) 1Q24: Earnings in line; rail business maintains its positive gross margin. Berli Jucker (BJC TB/HOLD/Bt25.00/Target: Bt27.00) 1Q24: Results slightly missed expectations; lack of share price catalysts. Electricity Generating (EGCO TB/BUY/Bt112.00/Target: Bt150.00) ...
LH LAND & HOUSES PUBLIC CO. LTD.
PTT PTT PUBLIC COMPANY LIMITED
EGCO ELECTRICITY GENERATING PUBLIC CO. LTD.
AMATA AMATA CORP
BEM BANGKOK EXPRESSWAY AND METRO PUBLIC COMPANY LIMITED
SPALI SUPALAI PCL
MINT MINOR INTERNATIONAL PUBLIC CO. LTD.
HANA HANA MICROELECTRONICS PCL
PTT-R PTT (NVDR)
MINT-R MINOR INTERNATIONAL PCL NVDR
RATCH RATCH GROUP PUBLIC CO. LTD.
SVI SVI PCL
- Damon Shen
- Jack Goh Tooan Orng
- Jacquelyn Yow Hui Li
- Jieqi Liu
- Jo Yee Ng
- Johnny Yum Chung Man
- Jonathan Koh
- Kate Luang
- Kitpon Praipaisarnkit
- Leow Huey Chuen
- Limartha Adhiputra
- Philip Wong
- Shirley Wang Xueyi
- Stella Guo Yuting
- Stevanus Juanda
Regional Morning Notes - Wednesday, March 13, 2024
GREATER CHINA Strategy China And Hong Kong Property: Monitoring the recovery of secondary market in T1 cities; Hong Kong developers carefully pricing amid ample supply. Results Miniso (MNSO US/NOT RATED/US$17.92): 4Q23: Results beat; raise 2024 revenue guidance. Small/Mid Cap Highlights Giordano International (709 HK/BUY/HK$2.15/Target: HK$2.81): 2023 Results in line with profit alert, potential change of Chairman remains investors’ key concern. INDONESIA Results Triputra Agro Persada (TAPG IJ/...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.