VSTECS.HK 之自我审视

 




首先为大家简单介绍VSTECS HK 是做什么的。各位老手相信都认识Bursa 里的 vstecs.klse.. VSTECS.KLSE 是VSTECS.HK 的associate。VSTECS.HK 主要业务是代理分销3c 产品和代理云计算服务。它几乎垄断了中国(大陆,香港,澳门)和东南亚的市场。原因别无其他,外国大厂和云服务商都愿意把独家代理权交给他。其中原因下次才详谈。我其实早在2019年头4.60hkd就给卖了 当初心里想回报已经不错了而且我预测他来临的业绩只会成长一个10%,应该把资金挪到成长比较快的公司上。过后等待机会再买回。最后出炉的业绩如我所料净利只微微的成长了12%。现在想起来,12%对我来说其实很满足了,但是当时回报已经相当不错了,可能是失去了耐心就将一只稳定成长的公司卖出。但是有多次回调到我心水的位置都没买回。十分后悔。这家公司过去约二十年尽管金融危机每年都交出满意的业绩。绝对是一家适合长期持有的公司。以前一直认为这家公司被市场低估了,哪知道却以被低估的股价卖出。实在是投资路上的一大悔事,以后要谨记此番教训。不过相信每一位投资者都有自己在投资上干过悔事,试问人生在世,谁能无怨无悔。真心为持有他的人感到高兴,终于被市场认可了。我深信人生所做的决定是obey Markov chain rule 的,意味着当下所做的决定会影响未来的决定。就好比一个人穿越到过去改变了一些事情,回到未来一切可能从此不一样。如果我没卖出VSTECS 也不会有今天的 gdb,revenue. 这样想心情就比较平复了。不过当时是还有现金的。😭 纯粹来吹水。xD

As of 17/09/2020

Comments

  1. Replies
    1. Fundamentally good, the recent earning (rolling last 4 quarter) soared because of the newly acquired cloud computing company. This growth is not organic because of injection of profit from newly acquired company. You might see the profit growth starts to flatten. For the long term, the growth will depend on consumer spending on 3c product and enterprises' intention to upgrade their system. In the era of 5G and IOT, the sales seem to pick up. But do you have the patient to wait for it? For me, the current P/E 10-12 is fairly priced.

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    2. Because sale of 3C product is a business of low profit margin. But their strategies to grow their enterprise system is a good measure to improve the profit margin.

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  2. Hi, i just came to view your blog, and just realize that u actually got reply me. lol this blog dont have notification1?
    Yes, agreed v u, actually this counter Net profit in between 25mil-30mil many years d, dont have significance growth, although balance very attractive. price lately only shoot up to RM 2.7x for a moment.
    Due to work from home and many students study at home, tuition at home too, 3c , printer and other accessories demand increase a lot.... even software. and im wondering how much is their Q3 net profit, as normally their Q3 n Q4 is their best quarter. And i have same thought as u, they just like trading house, distributor of 3c products n software only, i think market wont give higher PE for this counter.

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    Replies
    1. Haha. Thank you for your support. It's the weakness of blogger, the engagement very bad. that's why people shift to facebook. trading house, ha, a nice analogy indeed.

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    2. personally, I m looking up to its cloud computing business because VSTECS has the vast customer network, If their service really good, you should see the pick up of contribution from this segment

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  3. Hi u should post facebook instead of blog... less ppl use blog liao...

    ReplyDelete
    Replies
    1. TQ come visit my blog. I planned to have a social media account for my blog,but now still thinking how to manage it.

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