Highlights
KLSE: LIIHEN (7089)       LII HEN INDUSTRIES BHD MAIN : Consumer
Last Price Today's Change   Day's Range   Trading Volume
3.29   +0.01 (0.30%)  3.25 - 3.29  99,200
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Overview

Market Cap: 592 Million
NOSH: 180 Million
Avg Volume (4 weeks):161,361
4 Weeks Range:3.13 - 3.42
4 Weeks Price Volatility (%):
55.17%
52 Weeks Range:2.35 - 4.86
52 Weeks Price Volatility (%):
37.45%
Average Price Target: 3.85
Price Target Upside/Downside: +0.56
Stamp duty exempted for year 2021

Financial Highlight

Latest Quarter | Ann. Date 31-Mar-2021 [#1]  |  27-May-2021
Next QR | Est. Ann. Date: 30-Jun-2021  |  17-Aug-2021
T4Q P/E | EY: 8.69  |  11.50%
T4Q DY | Payout %: 4.41%  |  38.31%
T4Q NAPS | P/NAPS: 2.37  |  1.39
T4Q NP Margin | ROE: 7.48%  |  15.97%

Headlines

Date Subject
03-Jun-2021 Lii Hen Industrie - A Weak Start
25-Feb-2021 Lii Hen Industries - Ending in Line
19-Feb-2021 Lii Hen Industries - Ending in Line
19-Feb-2021 LIIHEN(7089)营业额上涨,但利润却不增反跌?
03-Feb-2021 Mplus Market Pulse - 3 Feb 2021
19-Jan-2021 Mplus Market Pulse - 19 Jan 2021
09-Dec-2020 Stocks On Radar - Lii Hen Industries (7089)
23-Nov-2020 Lii Hen Industries - Beneficiary of Covid-19 continues to shine
22-Nov-2020 [转贴] 季报分析 | Liihen 3Q20业绩探讨 - investalone
19-Nov-2020 上升股:利兴工业 阻力RM5.08
17-Nov-2020 Mplus Market Pulse - 17 Nov 2020
17-Nov-2020 Lii Hen Industries - Beneficiary of Covid-19 continues to shine
04-Nov-2020 热门股:利兴工业 上挑RM4.57
27-Oct-2020 热门股:利兴工业 上挑RM4.30
23-Oct-2020 Trading Stocks - Lii Hen Industries
13-Oct-2020 Lii Hen Industries - Macro Figures Point to Strong Upcoming Sales
09-Oct-2020 Daily Technical Highlights - (HOMERIZ, LIIHEN)
07-Oct-2020 Lii Hen Industries - Macro Figures Point to Strong Upcoming Sales
02-Oct-2020 Economics & Strategy - Recovering But Not Out of the Woods
30-Sep-2020 Trading Stocks - Lii Hen

Business Background

Lii Hen Industries Bhd is engaged in the manufacturing and sale of furniture. Its products include bedroom sets, occasional products, utility products, sofa sets, buffet and hutch products, dining furniture and others. In addition, the company is also involved in Plantation and other segments. Plantation segment cultivates rubberwood trees, and Others segments include the firm's investment holding activities. Geographically business presence of the group can be seen across the Malaysia, USA and in other countries of which USA regions account for the majority of revenue.
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  29 people like this.
 
Flying Fox Disappointed result, revenue up but cost went up even faster

Shipping costs increased 3 times compared to last year, shipping fee is still at peak, short term no chance to go down. So cost will continue to be higher & lower margin will be for the next Q
19/02/2021 1:41 PM
makelittlemoney Post removed. Why?
20/02/2021 6:12 PM
frankco please drop more ..
22/02/2021 2:57 PM
Cipta maketlittlemoney Good points. Yoy, although cost of sales increase 31.66%, but revenue increase 24.53% + inventory increase 67.71%. This correspond to container shortage. If you add in the inventory as goods waiting to ship, then the profit margin is increased instead. Also, with total liability not increase, Fix deposit of the co increases 21%. Given operation ease for several weeks due to MCO, Lii Hen still manage to increase sale as well as giving dividend in every quarter fin 2020. This say how good is the co doing in 2020.
22/02/2021 7:10 PM
XxxxXzz Rebounce soon, enter now
23/02/2021 9:31 AM
bullrun1985 anyone can tell me why Liihen drop like water fall this few days
23/02/2021 9:41 AM
XxxxXzz Nope, inventory yet sold won't taken up into account cost of good sold.
I believe the main reason of cost of good sold increased mainly due to higher shipping fee and new crew expense (quarantine, swab test fee and bla bla)
As you can see revenue increased from 8xxm to 9xxm, the extra revenue could done by new foreign crew.
23/02/2021 10:33 AM
Cipta Given operation cost increased RM3mil while inventory increases RM59mil, I believe the cost of inventory is in the cost of sales.
23/02/2021 11:01 AM
XxxxXzz Cost of inventory= storage? If own warehouse won't incurred any cost actually.
They didn't tell us from qr, how they accumalted the cost. If cost of inventory already include overhead and direct labour, then it won't affect the cost of goods sold.

What I see is the new foreign recruitment extra expense during covid and they do swab test during 23th Dec. So all that cost reflect in Dec qr. But all of this is one off expense instead of routine expense then cogs still able get lower in future
23/02/2021 11:48 AM
Cipta Let's say Lii Hen has 10,000 workers and all sent for Covid-19 at RM300/test, the cost only increase RM3mil. whilst Cost of sales increase RM57Mil yoy.

Cost of sales = overhead + material cost. Well, the Qr didn't separate out the admin/marketing cost so i presume they lump sum it including cost to produce inventory.
Warehouse is under fix asset unless they rent it.
23/02/2021 12:14 PM
makelittlemoney cost of sales does not include in inventory.
23/02/2021 1:33 PM
XxxxXzz We talking about gross margin mah, gross profit margin decreased due to cogs increased, unsold inventory won't affect the cogs. So what increased the cogs is more important for future propesct. If its one off expense instead of routine then OK.
23/02/2021 1:36 PM
Cipta Well, what i want to mention is whether Lii Hen include inventory production cost into Cost of sales.
yoy, inventory increase RM59mil , cost of sales increase RM57mil.
23/02/2021 1:52 PM
XxxxXzz Cost of sales increased 57m because of revenue increased from 8xxm to 9xxm lar. Aduhai u susah nak faham lol.
U thought this 100m extra revenue doesn't include cogs??

Inventory is inventory, cogs is cogs. Totally different thing.

Teach u simple account concept
When they create a furniture then cost put into inventory account, when the goods sold, then transfer from inventory account to cost of sales account. This how accounting work

So all the unsold inventory won't affect cost of sales at all. Understand mah? Unless you say the inventory cost doesn't include direct labour or overhead, then yes it's affecting cogs. But normally all company apportion those direct labour overhead into inventory instead direct to cogs
23/02/2021 2:24 PM
XxxxXzz But anyway this still good stock lar, past 10 years keep profit and revenue keep breaking high. In long term confirm earn de just need patient
23/02/2021 2:37 PM
Cipta XxxxXzz Thanks for your accounting class. Appreciated. Please tell me from account method, if subsidiary A sold subsidiary B goods, will the same item appear as revenue and inventory at the group account?
23/02/2021 2:42 PM
XxxxXzz Internal sales will not treat as revenue in group accounting. Inventory only capture at original cost incurred.
23/02/2021 3:30 PM
sumochichi https://klse.i3investor.com/blogs/investorstalk/2021-02-24-story-h1541255356-3_Phases_of_Investment_Pandemic_Recovery_Post_Recovery.jsp
24/02/2021 3:19 PM
EatCoconutCanWin Heng ong huat arh!!...buy adding
24/02/2021 4:46 PM
mijibaik buy buy buy . TA on the bottom the only way is UP
25/02/2021 2:41 PM
XxxxXzz Monday collect dividend hehe
05/03/2021 5:39 PM
jeannie what happened..like dead fish
08/03/2021 4:54 PM
XxxxXzz Dead fish better than drop haha. Can collect dividend not bad dy
08/03/2021 7:35 PM
akira USD is slowly going up again, I guess that's good for Liihen
22/03/2021 5:24 PM
makelittlemoney got dividend?
26/03/2021 1:14 PM
cherry88 Was told furniture business is very good. Orders all q up to dec loh. Given the current strengthening of USD, we will see another record level for Liihen.
05/04/2021 9:42 AM
Chili_Padi XxxxXzz u must be an accountant with real-life experience. I am not. so am not here to teach you or anyone any lesson (who am I...). Based on limited knowledge, it is not uncommon that overhead is an area that accounting can be manipulated to adjust gross margin. Also, to be concise, it is manufacturing direct overhead. Not broad category of overhead.

Best Rgds,
The humble Nobody
17/04/2021 9:41 PM
Chili_Padi cherry88, My 2 cents: The sales volume definitely in increasing trend (global and local). The only concern I pondered upon is logistic cost - which LH made bulk of it's sale from US. Global supply chain has been facing container shortage issue since Q4 last year, it is not easing but made worst by reopening and short term ripple effect of Suez Canal. Q1 profit might be squeezed. In longer term, likely to see rebound when capital flows back to lower risk counter.
Welcome any view.
17/04/2021 9:44 PM
Chili_Padi https://furnitureandfurnishing.com/container-shortage-in-asia-pushes-up-shipping-costs/
17/04/2021 10:00 PM
cherry88 @Chili_Padi, Container issue is no longer an secret and have not been really resolved significantly. Recalled back that LiiHen operations were closed down in Jan and with CNY holiday in Feb, I don't think LiiHen can be performed much financially in its first q results. Although we know shipping cost will not hurt the company bottom-line directly as all of its shipping term are in FOB, but it will affect their factory efficiency I guess. Hope this temporarily weakening could pose a good accumulate in lower price range. But this trend is not for short teem trading strategy. Short term trading (< 6 month) should stay aside and look for better trading opportunities elsewhere
19/04/2021 4:49 PM
jeannie keep dropping, anybody can share what happened to this co?
20/04/2021 1:17 PM
observatory May be it is related to Bursa filings last week that show founders disposing their shares.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3147907

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3147909
20/04/2021 5:39 PM
jeannie Thanks for the update.
20/04/2021 11:35 PM
akira Rugi besarrrr
04/05/2021 4:30 PM
RainT come back this forum

see all the new entrants to LIIHEN

You alls dont know LIIHEN history n pattern
05/05/2021 6:58 PM
akira Boss RainT, care to share how is the pattern?
06/05/2021 12:12 PM
jeannie what pattern...looks so positive and now keeps dropping
07/05/2021 10:42 AM
kens88 got director disposing. bad news incoming?
10/05/2021 9:41 PM
jeannie now drop like shit...still can buy???
10/05/2021 11:31 PM
wallstreetrookie Sales surge in home improvement remains consistent despite concerns regarding concerns on inflation and rapid rise in raw material costs would motivate consumers to cancel or delay projects

Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University showed that spending on renovation and repairs is expected to increase at rates higher than year-ago levels through the end of 2021. The program uses several economic indicators that have had strong correlations with remodeling spending, including the home-price index, housing starts and remodeling permits.
24/05/2021 6:52 AM
cherry88 bye bye Lii Hen....better switch to Poh Huat if you want exposure in furniture
27/05/2021 5:40 PM
Sardin Q2 profit will recover to 10 sen per share if no shut down again. Q1 profit drop mainly due to extra labor cost following 4 subsidiaries shut down for 4 weeks long, of which the cost is not transferrable to customers.
27/05/2021 8:20 PM
kens88 From 4.7 max drop until 3.3.... No bottom?
28/05/2021 3:51 PM
bullrun1985 Liihen where is your bottom???
28/05/2021 3:53 PM
Sardin The result is impacted by one-off factors so don't expect a deep dive of the share price unless it gives you another poor quarter. The EPS will normalize in Q2. What you saw is already in the past. I think the latest circumstance is quite good and that's the reason behind the higher dividend declared. Just my 2 cents here.
28/05/2021 6:06 PM
Sardin So I think the bottom is above RM 3 because there is a thick dividend cushion.
28/05/2021 6:08 PM
RainT Monday BIG drop

buy
28/05/2021 11:19 PM
jeannie keep dropping...what is wrong with this counter???
04/06/2021 3:13 PM
Sardin Furniture is labor intensive business. So lock down or run at reduced capacity has a great impact to the EPS.
04/06/2021 5:22 PM
kens88 Maybe 2.5 can top up some
16/06/2021 11:13 AM


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