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Agreed with Patrick Chew's comment. Keep it up, Midas.
Singapore & Hong Kong, November 14, 2013 ? Midas Holdings Limited (麦 达 斯 控 股 有 限 公 司 ) (?Midas? or the ?Company?, together with its subsidiaries, the ?Group? SGX-ST stock code: 5EN SEHK stock code: 1021) reported net profit attributable to equity holders (?Net Profit?) of RMB16.4 million for the three months ended
September 30, 2013 (?3Q2013?), turning around from a loss of RMB6.1 million for the corresponding financial period in the previous year (?3Q2012?).
Within the division, the Transport Industry, which also included the supply ofaluminium alloy extrusion profiles for freight wagons, was the largest revenuecontributor, accounting for 75.6% of its revenue in 3Q2013. The ?Others? segment,which included mainly the supply of aluminium alloy rods and other specialised profiles for industrial machinery, contributed 18.0% of revenue to the AluminiumAlloy Division. Revenue contribution from the Power Industry accounted for the remaining 6.4%.
The Group?s overall gross profit margin was 20.8% for 3Q2013, compared to 31.5%for 3Q2012. The decrease was mainly due to higher per unit production cost and achange in product mix at the Group?s Aluminium Alloy Extruded Products Division. The Aluminium Alloy Extruded Products Division recorded gross profit margin of 21.0% for 3Q2013, compared to 32.1% for 3Q2012.
Other operating income, which mainly comprised interest income and disposal of scrap materials, was RMB2.1 million for 3Q2013, compared to RMB4.0 million for 3Q2012. The decrease was mainly due to lower interest income during the review quarter.
Selling and distribution expenses rose 1.5% to RMB13.2 million in 3Q2013, from RMB13.0 million in 3Q2012. Administrative expenses increased 3.4% to RMB25.7 million in 3Q2013, from RMB24.8 million in 3Q2012.
Approximately RMB16.8 million (3Q2012: RMB7.6 million) of the interest on bank borrowings that were used to finance the construction of property, plant and equipment for the new production lines were capitalised.
The Group?s associated company, Nanjing SR Puzhen Rail Transport Co., Ltd (南 京 南 車 浦 鎮 城 軌 車 輛 有 限 責 任 公 司 ) (?NPRT?), contributed RMB10.9 million in 3Q2013, turning around from a share of loss in the corresponding financial period. This was backed by increased train car deliveries during the review period.
As a result of the above, the Group achieved a Net Profit of RMB16.4 million. The Group?s balance sheet remains healthy, with cash and cash equivalents strengthened by RMB337.0 million to RMB884.0 million as at September 30, 2013, from RMB547.0 million as at December 31, 2012.
Patrick Chew (周 华 光 ), Chief Executive Officer of Midas, said, ?We are delighted that our core Aluminium Alloy Extruded Products Division and NPRT have made strong contributions to our financial performance for the review quarter. The overall operating environment has clearly improved notwithstanding some margin pressure.?
?On the business development front, we are seeing exciting developments over the past few months, as our order book received a healthy boost of approximately RMB433.6 million, backed by contracts from international and PRC customers, as well as securing our first high-speed train contract since 2011. The return of high-speed train tenders is an encouraging development for the industry,? Mr Chew added.
For the nine months ended September 30, 2013 (?9M2013?), Midas? Net Profit leaped 145.6% to RMB26.4 million, on the back of a 20.6% increase in revenue to RMB787.5 million. This compares against a Net Profit of RMB10.7 million and revenue of RMB653.0 million for the corresponding financial period.
So Ruan.
Mine clearer lar.
NEWS RELEASE
MIDAS ACHIEVES NET PROFIT OF RMB16.4 MILLION FOR 3Q2013
- Revenue up 48.5% to RMB301.0 million on higher contributions from the Aluminium Alloy Extruded Products Division
- Bottomline lifted by RMB10.9 million in contributions from NPRT
Singapore & Hong Kong, November 14, 2013 ? Midas Holdings Limited (麦 达 斯 控 股 有 限 公 司 ) (" Midas" or the " Company" , together with its subsidiaries, the " Group" SGX-ST stock code: 5EN SEHK stock code: 1021) reported net profit attributable to equity holders (" Net Profit" ) of RMB16.4 million for the three months ended September 30, 2013 (" 3Q2013" ), turning around from a loss of RMB6.1 million for the corresponding financial period in the previous year (" 3Q2012" ).
Group revenue soared 48.5% from RMB202.7 million in 3Q2012 to RMB301.0 million in 3Q2013, primarily driven by the Group?s Aluminium Alloy Extruded Products Division, which recorded a 50.0% jump in revenue to RMB287.5 million. This division accounted for approximately 95.5% of total revenue in 3Q2013.
Within the division, the Transport Industry, which also included the supply of aluminium alloy extrusion profiles for freight wagons, was the largest revenue contributor, accounting for 75.6% of its revenue in 3Q2013. The " Others" segment, which included mainly the supply of aluminium alloy rods and other specialised profiles for industrial machinery, contributed 18.0% of revenue to the Aluminium Alloy Division. Revenue contribution from the Power Industry accounted for the remaining 6.4%.
The Group?s overall gross profit margin was 20.8% for 3Q2013, compared to 31.5% for 3Q2012. The decrease was mainly due to higher per unit production cost and a change in product mix at the Group?s Aluminium Alloy Extruded Products Division. The Aluminium Alloy Extruded Products Division recorded gross profit margin of 21.0% for 3Q2013, compared to 32.1% for 3Q2012.
Other operating income, which mainly comprised interest income and disposal of scrap materials, was RMB2.1 million for 3Q2013, compared to RMB4.0 million for 3Q2012. The decrease was mainly due to lower interest income during the review quarter.
Selling and distribution expenses rose 1.5% to RMB13.2 million in 3Q2013, from RMB13.0 million in 3Q2012. Administrative expenses increased 3.4% to RMB25.7 million in 3Q2013, from RMB24.8 million in 3Q2012.
Approximately RMB16.8 million (3Q2012: RMB7.6 million) of the interest on bank borrowings that were used to finance the construction of property, plant and equipment for the new production lines were capitalised.
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The Group?s associated company, Nanjing SR Puzhen Rail Transport Co., Ltd (南 京 南 車 浦 鎮 城 軌 車 輛 有 限 責 任 公 司 ) (" NPRT" ), contributed RMB10.9 million in 3Q2013, turning around from a share of loss in the corresponding financial period. This was backed by increased train car deliveries during the review period.
As a result of the above, the Group achieved a Net Profit of RMB16.4 million. The Group?s balance sheet remains healthy, with cash and cash equivalents strengthened by RMB337.0 million to RMB884.0 million as at September 30, 2013, from RMB547.0 million as at December 31, 2012.
Patrick Chew (周 华 光 ), Chief Executive Officer of Midas, said, " We are delighted that our core Aluminium Alloy Extruded Products Division and NPRT have made strong contributions to our financial performance for the review quarter. The overall operating environment has clearly improved notwithstanding some margin pressure."
" On the business development front, we are seeing exciting developments over the past few months, as our order book received a healthy boost of approximately RMB433.6 million, backed by contracts from international and PRC customers, as well as securing our first high-speed train contract since 2011. The return of high-speed train tenders is an encouraging development for the industry," Mr Chew added.
For the nine months ended September 30, 2013 (" 9M2013" ), Midas? Net Profit leaped 145.6% to RMB26.4 million, on the back of a 20.6% increase in revenue to RMB787.5 million. This compares against a Net Profit of RMB10.7 million and revenue of RMB653.0 million for the corresponding financial period.
Sorry, my aunt just corrected me. It was in 2010 that she bought Midas for $1.02 per share.
Hawkeye ( Date: 14-Nov-2013 15:53) Posted:
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bought at 1.02 and hold on till it is 0.49 is not wise, not patience, but star burn.
Ok I will hold to $1.03 in support of all the Aunts and tribute to their solidarity.
new6ie ( Date: 14-Nov-2013 14:34) Posted:
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Many years back (if correct was 2008/2009) my aunt bought Midas at $1.02 per share and still holding.
viromics ( Date: 14-Nov-2013 14:29) Posted:
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No surprises mean good news to buy and hold until next March! If you are not greedy for big profit. I am aniticipating a rise to 0.60.
Stock market is like that lah. Even 4-D and toto you sometimes have " Kangtow Jee"
wait4opp ( Date: 14-Nov-2013 09:31) Posted:
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today should be non event. interim result already out, so there should be no surprises, announcement should be after market, they just got award for most transparent co.
Bo kia si .......then buy now.!!!
They are in the meeting right now, any good / bad news will leak out via sms, watsapp, kakao app to get their relatives to buy / sell.
Stay tune and watch the price move by insiders.
Actually not fair lor to retail investors.
The notice was annouced on SGX as follows link:
http://infopub.sgx.com/Apps?A=COW_CorporateAnnouncement_Content& B=AnnouncementLast3MonthsByCompanyNameAndCategory& F=1020761& fileId=MidasHolding-noticeofboardmeeing3Q2013-E.pdf
Where do you get this information? Can't find this in any web. Kindly share. Thank you.
Most if not all of Midas financial announcements are done after trading hours in the past.
wait4opp ( Date: 13-Nov-2013 22:20) Posted:
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Board meeting at 9:30am for the 3 qtr results. The board of directors (the ?Board?) of Midas Holdings Limited (the ?Company?) hereby announces that a meeting of the Board will be held on 14 November 2013 at 9:30 a.m. at which the Board will, among other matters, consider and approve the unaudited consolidated third quarterly results of the Company and its subsidiaries for the nine months ended 30 September 2013 and its publication on the websites of the Singapore Exchange Securities Trading Limited and The Stock Exchange of Hong Kong Limited. REPORT SHOULD BE OUT AFTER Trading Hour ??? REALLY NOT?? NOT AT 9:30am ?
should be after trading hr if not wrong.
wait4opp ( Date: 13-Nov-2013 18:42) Posted:
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RESULTS OUT TOMORROW at 9:30am
STAY TUNE.....
Be Careful tomorrow is a important day !
Maybe got announcement with good news !
If with good news & good result still don't rise !
I think this counter is a hopeless counter & we must be careful !
Me too !
Tea break !
Coffee Time !
Davidson ( Date: 13-Nov-2013 15:45) Posted:
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