Highlights

Genetec - A baby step

Author: Genetec A baby step   |   Latest post: Mon, 8 Aug 2022, 10:09 AM

 

GENETEC to see stronger earnings in Q1. CIMB Reitera Add call with TP RM4.30

Author: Genetec A baby step   |  Publish date: Mon, 8 Aug 2022, 10:09 AM





https://www.nst.com.my/business/2022/08/820349/genetec-technology-see-stronger-earnings-q1

 

KUALA LUMPUR: Genetec Technology Bhd (GTB) is expected to deliver stronger net profit growth in the first quarter ending June 30, 2022 (Q1 FY23), driven by a healthy order backlog from the electric vehicle (EV) and energy storage (ES) segment.

CGS-CIMB Research foresees more robust sales and net profit growth for GTB on a year-on-year (YoY) and quarter-on-quarter (QoQ) basis on the back of a firm order backlog for EV and ES.

Genetec had a total of RM270 million in order backlog as of end-May 2022, out of which 86.7 per cent was related to the EV and ES segments, while the hard disk drive segment accounted for 12.7 per cent.

"Hence, we expect the company to recognise a portion of these orders in Q1 FY23," it said in a note today.

According to Genetec's FY22 annual report, its top three customers made up 95 per cent of the company's FY22 revenue (versus 81 per cent in FY21), driven by Customer C, where revenue surged 5.8x YoY from RM28.2 million in FY21 to RM163.9 million in FY22.

"We believe Customer C is the leading North American EV manufacturer, Tesla.

"We see exciting growth prospects for Genetec on the back of Tesla's aggressive expansion plan to build 20 million EVs per year by 2030," it said.

Tesla chief executive officer Elon Musk highlighted during Tesla's 2022 annual meeting last week that the company plans to have up to 12 gigafactories globally to meet its target, and it could announce its next factory location by the end of 2022.

"Overall, we believe the new EV plant expansion will translate into higher demand for automated manufacturing solutions, and this should bode well for Genetec's order visibility," it added.

CGS-CIMB Research has retained its 'Add' call on GTB with a lower target price of RM4.30.

"We think GTB should still trade at a premium given its unique customer exposure and as a proxy for the global EV transition given its highest revenue exposure to EV and ES in the Malaysian technology sector," it said.

 


 

 

Labels: GENETEC
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Tesla, Inc. 2022 Annual Meeting of Stockholders {LIVE RECORD}... Here’s What Happened.

Author: Genetec A baby step   |  Publish date: Fri, 5 Aug 2022, 8:22 AM



https://www.youtube.com/watch?v=49e7LrxS3FQ

Tesla, Inc. 2022 Annual Meeting of Stockholders

 

https://www.barrons.com/articles/tesla-annual-shareholder-meeting-2022-elon-musk-51659543259

Tesla’s Annual Meeting Is Done. Here’s What Happened.

Tesla TSLA +0.40% ’s huge base of retail investors always likes to hear from management and CEO Elon Musk. They got another chance on Thursday, when the company hosted its 2022 annual meeting of shareholders.

Investors heard about production, demand and pricing. Musk also mentioned other interesting tidbits, including comments about self-driving cars.

Tesla said in early July it produced a record number of vehicles in June. Musk told the assembled crowd that he hopes his company will be producing cars at an annualized pace of 2 million units by the end of 2022.

Tesla is ramping up production at its new plants in Germany and Texas. How those ramp-ups proceed and how Tesla deals with supply-chain issues—such as delays caused by Covid-19 lockdowns in China and a shortage of semiconductors—will impact the actual number achieved.

Tesla, when fully ramped up at its four assembly plants—California, Texas, Shanghai and Berlin—will probably be able to produce 2.1 million units annually. There is likely room to expand to roughly 2.4 million units with incremental improvements. Wall Street expects Tesla to deliver about 2.1 million vehicles in 2023. The company wants to grow production volumes at 50% a year on average for the foreseeable future. There might have to be another plant, or a significant expansion of an existing facility, by the middle of next year.

“We might be able to announce another factory location later this year,” said Musk. That generated cheers, but he didn’t go further than that statement. Many in the crowd suggested Canada. “I’m half Canadian, so maybe I should.”

Regarding demand, Musk said that 1.5 million units are possible for 2022. That is a ahead of the Street estimate of 1.37 million units.

Musk, in the months before the annual meeting, said that Tesla can sell all the vehicles it can make. In addition, he has also said that lead times to purchase a Tesla—which can stretch to 8 months or 9 months depending on the model ordered—are too long. Investors didn’t get an update about lead times or changes in ordering patterns caused by rising prices and rising interest rates.

Prices might not rise for much longer, however. Musk noted commodity prices are falling. “My guess is we are past peak inflation.”

That could presage a pricing peak, or even a price cut. Investors would like to know the direction of pricing heading into 2023. Bears will likely argue any price cuts signal weak demand, while bulls might predict that falling prices will boost sales and ordering rates.

Regarding price, one disappointing thing for investors, and car buyers, is that the original prices suggested for Cybertruck can’t be maintained. That product was introduced in 2019. Costs have risen too far since then, said Musk. That, however, isn’t really a surprise. Cybertruck production is due to begin in 2023.

At the meeting, Tesla investors also voted to authorize more shares outstanding. The vote paves the way for a 3:1 stock split. Approval, which is preliminary until all votes are tallied, wasn’t really in question. Investors tend to like stock splits, believing they signal management’s optimism about the future, among other things.

Musk also teased himself about missing his timelines for achieving truly self-driving cars. “This year I swear,” said Musk to laughter. He is talking about the year level four self-driving technology will be available. Level four means drivers don’t have to pay attention in some situations, that the car will do it all safely. Reaching level four is harder than Musk expected. He is still very positive on the potential for self-driving cars. “Solving autonomy will be an amplification of free cash flow to a degree that is…wow,” added Musk.


Annual meetings can be dry affairs, but Tesla’s tend to be a little more interesting. Tesla stock is heavily owned among retail investors. That tends to make shareholder engagement—at events such as analyst conference calls and annual meetings—higher than other firms. Tesla, for instance, takes calls from investors along with Wall Street analysts each quarter. That isn’t typical.

Tesla stock is down about 12% year to date. That is better than the 19% comparable decline of the Nasdaq CompositeCOMP +0.41%  and similar to the 13% decline of the S&P 500SPX –0.08% .

 

 

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For knowledge sharing - Tesla Q2 Earnings Call // 4680: Progressing through Challenges

Author: Genetec A baby step   |  Publish date: Wed, 3 Aug 2022, 9:46 AM



https://www.youtube.com/watch?v=JFXzuaOeKoM

Recap of the Tesla Q2 Earnings Call. The 4680 Ramp is Progressing through Challenges and Tesla has fallback plans.

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Tesla Inks Battery Materials Deals With Two China Suppliers

Author: Genetec A baby step   |  Publish date: Tue, 2 Aug 2022, 11:45 AM


https://www.bloomberg.com/news/articles/2022-08-01/tesla-inks-battery-materials-deals-with-two-chinese-suppliers

 

Tesla Inc. has signed new long-term deals with two of its existing Chinese battery-materials suppliers, the latest move by automakers to secure supplies amid intensifying competition.

Zhejiang Huayou Cobalt Co. and CNGR Advanced Material Co. signed pricing agreements with the electric-vehicle giant for supplies until the middle of this decade, according to separate stock-exchange statements from the companies. The deals are for ternary precursor materials -- chemical cocktails that are key to storing energy in lithium-ion batteries.

The announcements come as major automakers look to scoop up battery metals in the face of a looming shortage. General Motors Co. unveiled deals to buy inputs ranging from lithium to cathode materials last week, shortly after Ford Motor Co. revealed a list of suppliers with raw materials including Argentinean lithium and Indonesian nickel.

Huayou Cobalt will supply the materials to Tesla from July 1, 2022 to the end of 2025. The miner said the prices of the products will be subject to market prices for nickel, cobalt and manganese, as well as refining fees. CNGR will supply the EV automaker between 2023 and 2025.

Shares of Huayou Cobalt and CNGR jumped more than 9% each on Monday morning. 

The transition to cleaner energy is boosting demand for battery ingredients, while supply has been hampered by Covid-related logistical woes and a lack of investment. That’s pushing up the prices of the raw materials and is denting profitability for some carmakers.

Both Huayou and CNGR were among a list of direct suppliers named by Tesla in its 2021 annual impact report. CNGR said in its statement that it supplied Tesla from 2020 until this year.

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For knowledge sharing - 4680 Battery Pack: What We Found Under the Foam!

Author: Genetec A baby step   |  Publish date: Thu, 28 Jul 2022, 10:37 AM



https://www.youtube.com/watch?v=ozesI3OZEG0

Sandy and Cory give an update on the 4680 Battery Pack from our Austin-Built Tesla Model Y.

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For knowledge sharing - Tesla FSD is Further Ahead than Most People Think

Author: Genetec A baby step   |  Publish date: Thu, 28 Jul 2022, 10:37 AM



https://www.youtube.com/watch?v=95wPnlaz-mk

0:00 Intro
0:15 Pricing
3:36 Demand
4:45 Elon
5:40 AI

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