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This counter is definately under value. Most of china counters have surges nearly 100% from its recent low.
My TP of Yamada is > 20C. Don't miss it when it is still cheap.
Look like getting ready to move up. If you have not bought any, take a position and wait for its announcement of license for harvesting Eucalytus.
BUY call from Lim and Tan Security.
As warned by management last month, Yamada’s 2Q
Dec ’12 and 1H Dec ’12 profit plunged 77% to
Rmb16.7mln and Rmb17.7mln respectively due to
lower production yield, higher raw material costs,
lowering selling prices and weaker export sales to
Japan.
to obtain the logging licence (by early this year) for
harvesting of their own eucalyptus trees to produce
their own raw materials which would help to lower
But there is a sliver lining in that management expects
YAMADA
S$0.123-YAMA.SI
their production costs and the weather conditions at
their cultivation sites have improved since early Jan
’13 and should help to improve the yield of their
shiitake mushrooms. The peak Chinese New Year
festive period should also bode well for sales of shiitake
mushrooms.
recommendation in Aug ’12 and with better prospects
ahead, we are upgrading to BUY.
Having declined 25% since our initial Sell
Based on past data, this is a under value counters. Don't miss it.
Many brokering house issue " SELL" notice, but not drooping a lot. So DON'T MISS IT!!
| Lucky Seven: China Shares Ready To Roar |
|
Written by Andrew Vanburen (China Correspondent)
Monday, 31 December 2012 07:00
Main source: Story in Securities Times
DUE TO favorable new agricultural policy and real-time demand, there are at least seven China-listed counters that are likely to hit the ground running in 2013.
A good part of the newfound optimism stems from the recent announcement from China’s Cabinet – the State Council – that transaction fees for share trading activity will be lowered, along with several other measures that can be considered market friendly for farmers.
Will PRC-based agricultural listcos like Yamada Green, which is listed on the Singapore Exchange, benefit from agri-friendly policies? Photos: Company
Particularly promising for China’s farmers -- and shareholders of agri-centric listcos – is the move that would reduce water and electricity costs for the nation’s food producers.
Shenzhen Agricultural Products Co Ltd (SZA: 000061), a wholesale market play which distributes fresh fruits and vegetables to retailers, is expected to be a major beneficiary of this measure as its suppliers will be able to offer their produce at much lower prices.
The Cabinet announcements also include plans to standardize electricity and water rates for livestock and fruit/vegetable producers so as to give all farmers equal opportunities to make a profit in the open market.
China shares are enjoying a December thaw
This is good news for China’s countless hog husbandries and the dozens of A-share listed firms that depend on pork producing enterprises.
Prices for water, gas, heat and electricity will also be standardized for agricultural wholesalers and traders, as well as power costs for cold storage facilities across the country.
Other industry-friendly measures include reducing sales taxes/surcharges on agricultural product transactions in foodstuff markets, cracking down on predatory lending to food-stall renters, making the agricultural supply and distribution chain more “green,” and eliminating excessive logistics fees that cripple innovation and expansion in the sector.
CNInfo Service Index (SZA: 399320) is likely to see dividends from the standardization campaign, as well as meat and produce transporter China Railway Tielong Container Logistics Co Ltd (SHA: 600125).
Also seen riding the new policy and demand drivers are logistics and trading giants Zhongchu Development Stock Co Ltd (SHA: 600787), Jiangsu Feiliks International Logistics Inc (SZA: 300240), Jiangsu Xinning Modern Logistics Co Ltd (SZA: 300013) and Eternal Asia Supply Chain Management (SZA: 002183).
Foodstuffs are generally grouped with pharmaceuticals as being “recession proof.”
But with China’s economy and A-share markets showing a bit more life of late – alongside the newly announced pro-agriculture policies – these seven listcos are some of the most likely to enter 2013 off and running.
|
ndamental View Technical View
Still a gd stock to invest in..before the herd comes in, 20c presents gd value dyodd!
Source: NextView
Yamada could be forming a cup-and-handle chart look alike
pattern. Resistance is currently at S$0.24 while support
appears at S$0.19.
Financials
Year to 30 Jun
(Rmbm) 2010 2011 2012F 2013F 2014F
Net turnover 314.0 364.4 533.4 626.9 716.8
Gross Profit 131.2 181.0 211.6 249.9 287.1
Operating profit 118.0 126.1 174.2 206.9 240.8
Net profit 103.3 112.7 169.0 201.7 235.5
EPS (Rmb cent) 86.1 27.7 41.6 49.6 57.9
Net margin (%) 32.9 30.9 31.7 32.2 32.9
Dividend yield (%) 3.4 0.0 6.6 7.9 9.3
PE (X) 1.5 4.5 3.0 2.5 2.2
P/B (X) 1.5 1.3 0.8 0.6 0.5
ROE (%) 29.8 28.1 27.8 24.8 23.5
Source: Bloomberg, UOB Kay Hian
Background
Investment highlights
•
from a larger production capacity, improved gross margins
and increased sales with a wider distribution network.
BUY with a target price of S$0.33 due to stronger earnings
•
70% discount to Singapore-listed peers’ average. Yamada
Green Resources (Yamada) is currently trading at 4.0x
FY11 PE and 2.6x FY12F PE vs an earnings growth of
50.0%.
The target price translates to 4.0x 2012F PE, pegged at a
Our view
•
government continues to encourage rural agriculture.
Macroeconomic should favour Yamada as the
To curb food inflation, the Chinese government plans to
allocate Rmb1.2t for developing the agricultural industry,
improving rural areas and farmers' livelihood this year. At
the fifth session of the 11
Chinese Premier Wen Jiabao reiterated that the
government remains committed in its efforts to boost
agriculture production by developing technology and
investing in rural infrastructure. We believe Yamada will
benefit from such policies as the government can use
Yamada as a conduit to encourage corporate high
technology farming.
th National People’s Congress,
•
for FY12.
1HFY12 to Rmb252.0m due mainly to higher sales of selfcultivated
fungi as the group almost doubled its shiitake
mushroom cultivation base from 2,614mu in 1HFY11 to
5,134mu in 1HFY12. As a result, PBT escalated 130% to
Rmb81.2m from Rmb35.3m in the previous period if we
exclude the Rmb14.6m valuation gains of the eucalyptus
trees in 1HFY11. We believe earnings growth momentum is
likely to continue for the second half, particularly so as they
have signed on new exclusive distributors for their
mushrooms.
Expansion in mushroom cultivation to boost earningsYamada reported a 70.1% surge in revenue for
•
will improve margins.
profit margins in the fungi segment from 49.8% in 2QFY11
to 42.2%, mainly due to rising raw material cost of
synthetic logs. With the acquisition of 21,000mu of
eucalyptus trees in Dec 11, it will fulfill 20% of the
synthetic logs requirement in FY13 and 50% in FY14, thus
controlling cultivation costs and consistency in the quality
of their edible fungi. Gross margins are likely to improve
going forward.
Completed acquisition in the Eucalyptus plantationsYamada reported lower gross
Peer Comparison
Company
Ticker Price
(S$)
Market
Cap
(S$b)
PE
FY11
(x)
PE
FY12F
(x)
CEREBOS PACIFIC
SINO GRANDNESS
PEOPLE'S FOOD
CHINA MINZHONG
Average 12.9 8.6
CER SP 5.520 1748.5 17.5 14.2SFGI SP 0.405 107.4 3.6 3.1PFH SP 0.585 661.2 25.7 --MINZ SP 1.000 557.4 4.8 --
YAMADA GREEN RES YGR SP 0.205 84.2 4.1 --
Source: Bloomberg, UOB Kay Hian
Yamada is a major supplier of self-cultivated shiitake
mushrooms. The group operates one of the largest shiitake
mushroom cultivation bases in China. It also manufactures
and supplies processed food products such as mushrooms,
vegetables and convenience
up 6% today..
gd job!
DYODD
ozone2002 ( Date: 14-Feb-2012 21:20) Posted:
still at IPO price..
looking at the recent results..very impressive..
looks like 2012 will be it's peak year..
@ PE 2.5x valuation it's dirt cheap..
looking at PE of 10x around 80c...
will vest tomorrow..
gd luck!! DYODD!
|
|
still at IPO price..
looking at the recent results..very impressive..
looks like 2012 will be it's peak year..
@ PE 2.5x valuation it's dirt cheap..
looking at PE of 10x around 80c...
will vest tomorrow..
gd luck!! DYODD!
Yamada Green Resources Limited announced that the Group, via Zhangping Fengwang Agricultural Products Co Ltd, a wholly-owned subsidiary has on 13 June 2011 entered into collaboration agreements with its newly appointed distributors. The Group will collaborate with its distributors to set up 12 fresh shiitake mushrooms distribution outlets in the PRC on or before 1 October 2011 in order to strengthen its sales and distribution network.
http://sgsharemarket.com/home/2011/06/singapore-company-highlights-16062011/?=Yamada
Can somebody (guru) tell me what hapen to Yamada? why recently it's like nobody interested in this counter??
Geographically it's probably too far away to impact the cultivation area as Japan is closer to Korea and Shanghai then it is to FuJian, though that doesn't matter as human are negative in nature and tends to prepare for the worst. :D
nickyng ( Date: 12-Apr-2011 21:05) Posted:
| wif Fukushima Reactor reaching scale of 7 max. alert...will the radiation be spread across the sea of japan to hit china? and there by affecting mushroom cultivation in open field? tt's y price drop??? :P
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wif Fukushima Reactor reaching scale of 7 max. alert...will the radiation be spread across the sea of japan to hit china? and there by affecting mushroom cultivation in open field? tt's y price drop??? :P
Hope the " mushroom" cloud doesn't hit Japan, these few days will be the reckoning...
people are shorting or throwing lah, japan economy now down the drain gonna affect yamada lah, less people gonna buy their dried mushrooms.
fragaria ( Date: 15-Mar-2011 09:58) Posted:
|
Why yamada high vol?
Someone is playing with this counter, noticed the 1 lot buy and selling all afternoon, what kind of joke is this ? :D
Closed .305 , as expected cheong ah!!!
