Vitasoy International 0345

[winston]

not vested

VITASOY INT'L Annual Results Swing into Loss of $159M; Nil Div

VITASOY INT'L (00345.HK) announced the annual result ended March 2022.

The revenue declined 13.5% year on year to HK$6.501 billion.

The profit swung into loss of HK$159 million.

LPS was HK14.9 cents.

No final dividend was declared as the company said it will prioritize business recovery.

Source: AAStocks Financial News

[winston]

not vested

Vitasoy sinks into the red, scraps payout

by Serena Kong

Revenues from the mainland plunged 23 percent. AFP

Vitasoy International Holdings (0345) swung to a net loss of HK$159 million for the year ended March mainly due to weaker sales in the mainland and scrapped paying the dividend for the whole year, the first time in more than 20 years

The loss compared with a net profit of HK$548 million in the previous year.

Total revenue decreased 14 percent to HK$6.5 billion due to the pandemic and the supply chain.

Over the past six months, the group has raised prices in some markets, said Ng.

Revenue in the mainland market sank 23 percent to HK$3.84 billion in 2022 from HK$ 5.01 billion the previous year due to the Covid outbreaks.

Source: The Standard

https://www.thestandard.com.hk/section- ... aps-payout

[winston]

not vested

Vitasoy (345 HK): <Results first take> FY3/22 net loss within earlier profit warning range [HOLD, TP HK$18.40]

Vitasoy released its FY3/22 results with a net loss of HK$159m, vs. FY3/21 net profit of HK$548m. This is in-line with profit warning alert with loss in the range of HK$151-172m.

Key drags include weaker sales performance in China, and reduction in COVID-19 subsidies as received in the prior year. Subsidies fell from HK$225m to HK$20m. Excluding COVID-19 related subsidies, adjusted loss would have been HK$233m in FY3/22, vs. HK$618m in FY3/21.

Revenue declined 14% to HK$6,501m in FY3/22, with 2H sales decline narrowed to 6.8% y-o-y (1H: -18.3%).

China sales decline narrowed to 14.1% in 2H22 (1H22: -28.9%). In 2H, HK, Australia & NZ, SG reported sales change of 3.9%/ 5.4%/ 2.9%.

Our last rating was a HOLD, with rating at HK$18.40. The Company will host a result briefing tomorrow with further detail.

Source: DBS

[winston]

not vested

Vitasoy (345 HK): Gradual path to recovery [HOLD; TP: HK$14.40]

FY3/22 net loss of HK$159m in line with earlier profit warning

Despite Omicron wave impacting the recovery in April and May, we expect Company to see a gradual sales recovery in China, while other regions continue to improve with lifting of lockdown restrictions

We trimmed our FY23F earnings by 7.5% and introduced FY24F forecast; maintain HOLD with TP at HK$14.4

Source: DBS

[winston]

POSITIVE PROFIT ALERT

The Group is expected to record a profit attributable to the Shareholders in the range of HK$140,000,000 to HK$150,000,000, as compared to a profit attributable to the Shareholders of HK$32,804,000 for the six months ended 30th September 2021 (the “Prior Period”).

The increase is mainly attributable to a significant increase in net profit from the Group’s Mainland China business.

The Group’s Mainland China business has delivered encouraging revenue growth
and achieved solid profitability.

Furthermore, the Company received HK$59,198,000 in COVID-19 related government subsidies primarily in its Hong Kong, China operation for the Current Period, as compared to HK$4,000,000 in the Prior Period.

https://investideas.net/forum/posting.p ... 691dd5d994

[winston]

not vested

1H 2022

The Company released 1HFY23 interim results with a net earnings surge of 332% to HK$142m

This is in line with its earlier profit alert of achieving profit attributable to shareholders in the range of HK$140-150m

Expect 2H sales to remain impacted by COVID across its largest market

Revenue: +1% 1H
EPS: 329% 1H

http://iis.aastocks.com/20221118/10511096-0.PDF

[winston]

vested

Is Vitasoy International Holdings (HKG:345) A Risky Investment?

As of March 2022 Vitasoy International Holdings had HK$489.8m of debt, an increase on HK$130.3m, over one year.

But it also has HK$621.9m in cash to offset that, meaning it has HK$132.0m net cash.

Liabilities of HK$3.03b due within a year, and liabilities of HK$206.4m falling due after that.

Offsetting this, it had HK$621.9m in cash and HK$1.16b in receivables that were due within 12 months.

So it has liabilities totalling HK$1.46b more than its cash and near-term receivables, combined.

In the last year Vitasoy International Holdings had a loss before interest and tax, and actually shrunk its revenue by 14%, to HK$6.5b.

Source: Simply Wall St

https://simplywall.st/stocks/hk/food-be ... vestment-1

[winston]

vested

Vitasoy dives 9pc on expensive buyout

Shares of Vitasoy International (0345) plunged by 9.4 percent yesterday after it said it will complete the acquisition of the remaining stake in Vitasoy Australia that is held by National Foods at a much higher price of A$51 million (HK$285.6 million).

In a filing yesterday, the soymilk maker said it had specified A$27.5 million as the fair value of the transaction when it exercised the call option to acquire the remaining 49 percent of the stake in Vitasoy Australia. But it was informed on November 7, 2022, that National Foods did not accept the price.

Under the shareholders' agreement, if the fair value amount is rejected by National Foods and no agreement can be reached by the parties, they would have to jointly appoint an expert and the final price determined by the expert would be final and binding on them, the filing said.

They chose the expert on December 13 who later decided the final price of the acquisition would be A$51 million, up by 85 percent from the original plan, it said.

Vitasoy owns a 51 percent interest in its Australian business and will have full control of it once the acquisition completes, the filing said.

All directors of Vitasoy believe the total consideration is "fair and reasonable" and in the interests of the company and its shareholders as a whole, it added.

Source: The Standard

https://www.thestandard.com.hk/section- ... ive-buyout

[winston]

vested

VITASOY INT'L Foresees Annual Results to Swing to Profit at $55M Max.

VITASOY INT'L (00345.HK) said that for the financial year ended 31st March 2023, the Group was expected to record a net profit in the range of HK$35 million to HK$55 million, as compared to a loss of approximately HK$159 million for the year ended 31st March 2022.

Dividend History
Announce Date Event Particular
2022/11/18 Interim D:HKD 0.0130
2022/06/29 Final No Dividend
2021/11/25 Interim No Dividend
2021/06/17 Final D:HKD 0.2900

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

VITASOY INT'L Annual Results Swing into Profit of $45.721M; Final Div 1.4 Cents

VITASOY INT'L (00345.HK) announced its annual results for the year ended March, turning a loss into a profit of $45.721 million, compared to a loss of $159 million in the same period last year.

The earnings per share were 4.3 cents.

A final dividend of 1.4 cents was paid, compared to no dividend paid in the same period last year.

Together with the interim dividend of 1.3 cents, a total dividend of 2.7 cents will be paid for the year.

Dividend History
Announce Date Event Particular
2022/11/18 Interim D:HKD 0.0130
2022/06/29 Final No Dividend
2021/11/25 Interim No Dividend
2021/06/17 Final D:HKD 0.2900

Revenue for the year reached approximately $6.341 billion, down 2.5% YoY.

VITASOY explained that this was due to the depreciation of the RMB and the AUD, and that excluding the impact of exchange rates, revenue for the year grew by 2%.

The company said it has restored profitability and revenue growth after excluding the impact of exchange rate.

It will continue to enhance sales execution and expand product sales channels in the future, aiming to maintain profit growth in the year ending March next year.

By region, revenue in local currency for the Mainland China business decreased by 2% YoY, while revenue and operating profit for its business in Hong Kong grew by double-digit compared to last year.

The Company completed the acquisition of the remaining 49% stake in Vitasoy Australia Products Pty, with revenue in local currency for the Australia and New Zealand operations inclining 3% YoY.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN