ThumbTackInvestor

Still vested at HKD30.83?
Did you add any further? Came down quite a bit in light of the trade war environment.

vincentwong10

Reply to @ThumbTackInvestor : Yup, will always update if there’s any transaction. Not really bother by the price fluctuation. Don’t think company business will be affected that much by the tariff, they manufacture their glass sold there.

zzxiaoboizz

Another competitor will be Xinyi Glass $XINYI GLASS(868.HK)

vincentwong10

Reply to @zzxiaoboizz : yea but they mainly focus on constructive glass.. and I do not think they can compete with fuyao anymore in China..

there are certain characteristic diffiulties in glass industry. hard to do keep your inventory and hard to transport being two of them.

If you already build your factories strategically near all the major car maker who trust you. It is just hard for competitor to take sales away from you...

Simpleinvestorsg

Their profit margin and ROE should be around 16% if you take out the one off 630,000k disposal of subsidary and 70,000k fair value of financial asset. Still pretty high, but its weird that they are borrowing and repaying roughly the same amount. Maybe to keep liabilities off book around reporting period? If that's the case, ROE may be lower than stated.

Proceeds from borrowings13,564,599 10,648,891
Repayments of borrowings(13,341,533)(9,989,268)

nareshg

Reply to @Simpleinvestorsg : Never really knew this could be a way to inflate ROE!
Thanks for enlightening but I have to really work hard to understand how it really works

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