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anyone has any info? this one plummeting like no ones business aha
Aztech Global net profit grows 55.4% for 9M 2021
HIGHER demand for Internet of Things (IoT) and data-communication products helped tech products manufacturer Aztech Global' s nine-month net profit rise 55.4 per cent year on year to S$47.4 million.
Earnings per share (EPS) for the January-September 2021 period stood at 6.46 Singapore cents, up from 4.93 cents in 9M 2020, said the mainboard-listed company in its business update on Thursday (Oct 14) evening.
Revenue increased 49 per cent to S$390.7 million, thanks to the 70 per cent jump in revenue from IoT devices and data-communication products, which accounted for about 94.2 per cent of the group' s bottom line.
For the third quarter ended Sep 30, 2021, net profit grew 11.1 per cent to S$18 million, from S$16.2 million in the second quarter.
Revenue ticked up by 5.5 per cent to S$141.1 million over the same period. EPS was 2.45 cents for the latest 3 months, up from 2.28 cents in the prior quarter.
As at end-September, the group' s order book totalled S$569 million. Since then, it also received additional orders of S$67 million as at Oct 14. About S$426 million of orders are scheduled for completion next year.
Despite components and labour constraints at its manufacturing facilities in Dongguan, China, and a 60 per cent workforce limitation at the Johor plant in Malaysia, Aztech Global delivered the majority of its customer orders on schedule.
Its China facilities continued to account for the bulk of the manufacturing activities in the first 9 months of this year. The company increased its production headcount in Dongguan, in line with the greater demand and shipment of IoT devices and data-communication products.
Aztech Global noted that the global component shortage is unlikely to abate in the next 6 to 12 months.
Its chairman and chief executive officer Michael Mun said the group will focus on addressing the operating challenges to deliver orders on schedule. Barring unforeseen circumstances, Aztech Global is " cautiously optimistic" of its fourth-quarter performance, he added.
Ya. Some more relist with the same name. Make people boils...if relist, use another name, maybe people will not notice too much.
bloodseeker ( Date: 09-Oct-2021 16:48) Posted:
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Hopefully can go up...at least at my purchase price at 1.25... even last quarter also look good but this stock keep continue to drop...hope the chip shortage issue will solve..
PQTPQK ( Date: 14-Oct-2021 17:25) Posted:
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tomorrow should gap up !!! the result is good .. just out...
this company has left a sour taste in alot of investors when they got themselves delisted from sgx. I guess the prices now is the aftermath of the sour taste they left behind...
i doubt whatever share buybacks they perform will remove the sour taste from investors.
i doubt whatever share buybacks they perform will remove the sour taste from investors.
https://apnews.com/article/technology-business-global-ltd-singapore-1317c1f47a5bbda04530da51861b6970
KANSAS CITY, Mo. - October 5, 2021 - ( Newswire.com )
Mycroft AI has selected Aztech Technologies Pte Ltd. as its design partner and contract manufacturer for the company&rsquo s Mark II smart speaker. Singapore-based Aztech, a subsidiary of Aztech Global Ltd., is a leader in electronic design and manufacturing and was chosen from several strong candidates in a rigorous six-month vetting process.
&ldquo We are very happy to have Aztech&rsquo s expertise and scale behind the Mark II,&rdquo said Mycroft CEO Michael Lewis. &ldquo As a Group, they bring 35 years of experience in consumer electronics to the project, and we&rsquo re really excited to be working with them.&rdquo
Aztech was selected because they were very responsive, went above and beyond in assessing the Mark II design and manufacturing requirements and clearly demonstrated their competence and enthusiasm.
Aztech is a one-stop integrated solutions provider with strong R& D, design, engineering and manufacturing capabilities. Supported by four R& D centers in Hong Kong, Shen Zhen, Dong Guan and Singapore, it has three manufacturing facilities in Dong guan, China and in Johor, Malaysia. The Mark II will be produced at its Malaysian manufacturing plant.
&ldquo We are privileged to be selected among several strong contenders, and are very excited in our partnership with award-winning Mycroft AI,&rdquo said Daniel Oh, Senior Vice President for Sales and Business Development of Aztech. &ldquo In addition to our production capabilities in Malaysia, Aztech is committed to the manufacturing success of Mark II through this synergistic collaboration.&rdquo
Mycroft&rsquo s new smart speaker is expected to democratize the voice assistant market by bringing both privacy and a robust open-source software stack to the fastest growing segment of the tech sector. With Aztech&rsquo s expertise in design and manufacturing and Mycroft&rsquo s proven software, the Mark II is shaping up to be a game changer for customers who value openness and privacy.
About Aztech Technologies Pte Ltd.
Aztech Technologies Pte Ltd. is a one-stop integrated design and manufacturing solutions provider based in Singapore. Together with their parent company, they have over 30 years of track record in the electronics industry.
Backed by strong R& D, design, engineering and integrated manufacturing capabilities, Aztech provides:
Aztech customers range from enterprising startups to internationally renowned MNCs, spanning across various industries such as IoT, telecommunication, consumer electronics, healthtech, LED lighting, automotive, as well as industrial.
To learn more of this relationship visit Mycroft&rsquo s blog.
Mycroft AI Contact: Joshua Montgomery
Phone: (785) 840 6155
Email: [email protected]
For Aztech media enquiries, please contact:
Ms Clarie Lim (Corporate Communications Manager)
Tel: +65 6594 2280
Press Release Service by Newswire.com
Original Source: Mycroft AI Selects Aztech as Its Design and Manufacturing Partner for Mark II
KANSAS CITY, Mo. - October 5, 2021 - ( Newswire.com )
Mycroft AI has selected Aztech Technologies Pte Ltd. as its design partner and contract manufacturer for the company&rsquo s Mark II smart speaker. Singapore-based Aztech, a subsidiary of Aztech Global Ltd., is a leader in electronic design and manufacturing and was chosen from several strong candidates in a rigorous six-month vetting process.
&ldquo We are very happy to have Aztech&rsquo s expertise and scale behind the Mark II,&rdquo said Mycroft CEO Michael Lewis. &ldquo As a Group, they bring 35 years of experience in consumer electronics to the project, and we&rsquo re really excited to be working with them.&rdquo
Aztech was selected because they were very responsive, went above and beyond in assessing the Mark II design and manufacturing requirements and clearly demonstrated their competence and enthusiasm.
ADVERTISEMENT
Aztech is a one-stop integrated solutions provider with strong R& D, design, engineering and manufacturing capabilities. Supported by four R& D centers in Hong Kong, Shen Zhen, Dong Guan and Singapore, it has three manufacturing facilities in Dong guan, China and in Johor, Malaysia. The Mark II will be produced at its Malaysian manufacturing plant.
&ldquo We are privileged to be selected among several strong contenders, and are very excited in our partnership with award-winning Mycroft AI,&rdquo said Daniel Oh, Senior Vice President for Sales and Business Development of Aztech. &ldquo In addition to our production capabilities in Malaysia, Aztech is committed to the manufacturing success of Mark II through this synergistic collaboration.&rdquo
Mycroft&rsquo s new smart speaker is expected to democratize the voice assistant market by bringing both privacy and a robust open-source software stack to the fastest growing segment of the tech sector. With Aztech&rsquo s expertise in design and manufacturing and Mycroft&rsquo s proven software, the Mark II is shaping up to be a game changer for customers who value openness and privacy.
About Aztech Technologies Pte Ltd.
Aztech Technologies Pte Ltd. is a one-stop integrated design and manufacturing solutions provider based in Singapore. Together with their parent company, they have over 30 years of track record in the electronics industry.
Backed by strong R& D, design, engineering and integrated manufacturing capabilities, Aztech provides:
- Original design manufacturing (ODM)
- Original equipment manufacturing (OEM)
- Joint development manufacturing (JDM)
- Electronics manufacturing Services (EMS) and
- Contract manufacturing services (CMS) / Contract Electronics Manufacturing (CEM).
ADVERTISEMENT
Aztech customers range from enterprising startups to internationally renowned MNCs, spanning across various industries such as IoT, telecommunication, consumer electronics, healthtech, LED lighting, automotive, as well as industrial.
To learn more of this relationship visit Mycroft&rsquo s blog.
Mycroft AI Contact: Joshua Montgomery
Phone: (785) 840 6155
Email: [email protected]
For Aztech media enquiries, please contact:
Ms Clarie Lim (Corporate Communications Manager)
Tel: +65 6594 2280
Press Release Service by Newswire.com
Original Source: Mycroft AI Selects Aztech as Its Design and Manufacturing Partner for Mark II
Of course " Yes lah" Buy back will stabilize the share price.
" The consolidated NAV per Share of the Group as at 30 June 2021 will decrease from 32.04 cents to 21.66 cents. "
does it mean that the share price will dropped further?
does it mean that the share price will dropped further?
" Proposed Adoption of the Share Purchase Mandate" => should support or object??
pls advise if possible. Tqvm.
pls advise if possible. Tqvm.
Aztech Global
Between Sept 21 and 22, Aztech Global Aztech Gbl: 8AZ +0.93% executive chairman and CEO Michael Mun Hong Yew increased his deemed interest in the company from 70.01 per cent to 70.07 per cent.
Acquired at an average price of S$1.03 per share, the consideration of the 477,600 shares was S$492,220.
Mr Michael Mun is responsible for identifying and implementing business growth strategies across the group as well as overseeing the group' s growth and operating functions.
He has more than 40 years of experience in the electronics industry.
On Sept 17, Aztech Global executive director and COO Jeremy Mun Weng Hung acquired 50,000 shares of the company at S$1.05 per share.
With a consideration of S$52,500, this took his total interest in Aztech Global from 0.02 per cent to 0.03 per cent.
Mr Jeremy Mun is responsible for the day-to-day operation and management of the group' s businesses, in particular, the manufacturing facilities in China and Malaysia.
Supported by its core strengths in R& D, design, engineering and manufacturing, the key products of Aztech Global are IoT devices, data-communication products and LED lighting products.
On July 30, Mr Michel Mun maintained that barring unforeseen circumstances, the group was cautiously optimistic about its performance for the rest of 2021, based on its healthy balance sheet position, strong order book secured to date and measures in place to mitigate the threat of Covid-19 infection resurgence.
In its H1FY21 (ended June 30), the net profit of Aztech Global more than doubled from H1FY20 to S$29.4 million, with the net profit margin improving to 11.8 per cent for H1FY21.
Hopefully to see good news soon
Chairman, Mr Mun, buys 200,000 shares for second day. Good sign as another quarter is about to close. Can expect business update next month to be positive?
Maybe because chip shortage issue bring down the price. Although pass the extra cost to customer doesn't mean can increase to expectation revenue. Example if chip shortage reduce total production by 30%, probably their customer only absorb some limit of cost increase, let say 15% out of 30% chip shortage. So the only way can push the price back to 1.2x or even higher when chip shortage issue solve and the production at max capacity.
dcools ( Date: 22-Sep-2021 09:06) Posted:
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if aztech can pass all the cost increased to customers, its share price should go up to at least 1.2x.
Referring to their announcement last month, their customer is willing to absorb the additional cost to secure necessary component. Also today they buy back almost 227k share which i good as support their statement previous. I believe Lot got potential to growth in future.
dcools ( Date: 21-Sep-2021 20:08) Posted:
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components shortage is a on going issue for aztech global. so going forward even aztech to record higher revenue, gross margin likely to reduce due to higher prices to pay for the components as a result of shortages.
Always quick to slide down, but slow to climb up.
Aiya, these guys need to do share buybacks. Volume is low, can easily manipulate share price to a certain level.
this is not the only counter that profit up price keep going down, will STI reach 3000by today?
Corian99 ( Date: 20-Sep-2021 11:34) Posted:
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Don' t just look at headline ma, profits almost in line but management has already warned of potential impact on profits due to supply chain constraints
ttworld ( Date: 20-Sep-2021 10:45) Posted:
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