2021年6月30日星期三

Notion

 非常多元化业务的 NOTION(0083)业绩.. 大家怎么看这家公司呢?会太多业务吗?

May be an image of indoor
【 “多元化“ 的 NOTION(0083)业绩分享 】
相信有跟进 NOTION 的读者们还记去年公司连续两天涨停板的事迹。而这也是因为公司逐渐从生产硬盘(“HDD”)、汽车、相机相关的精密零件产品,到 EMS 领域的 Nixon 计划、再进军到个人防护用品(“PPE”)领域当中;从口罩以及其主要原料熔喷布(“Meltblown Fabric”)到手套业务都皆有接触,可见其业务的广泛。
那么,今天我们的文章将会先客观的探讨公司的业绩表现,再谈谈公司多元化业务的利与弊。
🎯 NOTION 在该季度(“FY 2021 Q2“)内的营业额是分别由 HDD、汽车、相机相关零件、EMS 以及 PPE 业务所组成的;其营业额占比在该季度分别为 28.16%、29.09%、4.10%、22.13% 以及 16.52%。
🎯 除了 HDD 业务的营业额按年下滑了 4.41% 之外,其余的业务都看到了无论是按年还是按季的增长;其中以 PPE 业务的增长最为明显,因为在 FY 2020 Q2 内并无 PPE 业务所贡献的营业额,而在该季度内 PPE 业务则是贡献了 RM 14.0 Million 的营业额。
🎯 若按季比较的话,公司的 PPE 业务增长幅度为 137.57%;而这主要是公司开始进行手套的买卖业务所带来的收入。
🎯 在手套 ASP 下滑的这期间,公司的部分订单已被撤回终止;不过公司仍在完成高达 2 Million 盒(每盒装有 100 Pieces 的手套)的订单,预计可持续到 FY 2021 Q4 为止。
🎯 而公司本身的第一条手套生产线则已在本月初开始运作、第二条生产线预计在 7 月份开始生产、第三条则是预计在 8 月份内开始生产;至于第四条至第六条生产线则是预计在 9 月份到 10 月份之间开始运作。
🎯 目前公司的每条生产线的目标为每月生产 20 Million Pieces 的手套。
🎯 虽然管理层也预计接下来的手套价格会下滑,不过在季报中却提到丁腈手套的业务会持续给公司带来非常不错的收入。
🎯 以净利而言,公司在该季度的净利为 RM 3.2 Million,按年以及按季分别增长了 184.03% 以及 4.26%;不过在去年同期公司是陷入了 RM 3.8 Million 的亏损的。
🎯 管理层提到在该季度内的盈利因手套生产业务还在非常初步的阶段,因此在初期给公司带来了额外的开销,导致盈利依然是 “扁平” 的。
🎯 不幸的是,管理层并无提供各个业务细分的盈利比较,因此无法进行进一步的分析。
🎯 公司的经营现金流支出在该季度为负 RM 30.5 Million,对比同期的 FY 2020 6M(即 FY 2020 Q1 + Q2)的 RM 1.8 Million 正收入有鲜明的差距,这也是公司的应收账款增加所导致的,个人则猜测这是从公司的手套买卖业务中的应收账款。
在纳入了疫情的影响之下,管理层也提到了目前的 HDD、汽车、相机相关零件业务依然未回到疫情前的水平;但公司依然能有营业额的增长是不错的。但是,公司在该季度内却完全没有提及 EMS 业务中的 Nixon 项目的发展;并且目前发展的中心貌似偏向 PPE 中,这一点难免会另投资者无法确定公司接下来的明确方向。
我们也知道目前手套 ASP 的下滑影响了所有的手套生产商,包括了一线的龙头也不能脱离这一项影响;那么在这期间打算投入 RM 55.0 Million 继续发展手套业务的 NOTION 是否会被逐步下滑的 ASP 拖累其业绩也是未知指数。今天 TOPGLOV 与 Rakuten 的分享会中,他们也提到了未来的手套 ASP 可能会回到疫情前的价位外加稍微的溢价,因此个人对于新进场的手套公司前景是有所保留的。
而在观察了多家企业后,个人发现到公司如果专注于做好一个业务的企业素质通常是更好的。当然,PPE 业务如同管理层所说的一样,在中期内会持续给公司带来非常不错的收入。但我的问题是,公司未来的主要收入(“Bread and Butter”)依然会偏重于过去的精密零件、EMS、或者是 PPE 呢?
这一点,欢迎大家一起交流分享对于 NOTION 的看法。个人的浅见是做多,不如做专。
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2021年6月24日星期四

BOBA

 

HOMEMADE BOBA ‘TAPIOCA PEARLS’ BUBBLE MILK TEA

A simple DIY for 3-ingredient homemade tapioca pearls (aka boba) – including how to cook tapioca pearls and a delicious brown sugar bubble milk tea recipe.

Bubble Milk Tea (or ‘boba milk tea’) stands/stores have been popping up all over the UK within the last decade. These serve a delicious range of Taiwanese tea-based (and even non-tea-based) drinks filled with a variety of ‘toppings’ – one of which are tapioca pearls (boba pearls), sometimes called tapioca balls.

Sugar Tapioca pearls

WHAT ARE TAPIOCA PEARLS?

These boba ‘tapioca pearls’ are small, chewy dark brown/black balls that get spooned into the bottom of the bubble teas and made using tapioca starch (flour) – from the cassava root, brown sugar and hot water. Along with these boba pearls, drinks can also include popping boba (which are filled with flavoured syrups), different jellies, puddings and more.

Boba Bubble Milk Tea

Let me know in the comments if you’d like me to do DIY’s for other boba milk tea toppings too!

Within this post, I’m going to take you through a simple DIY for how to make tapioca pearls, including how to cook tapioca pearls (with dark brown sugar) and then even a simple bubble milk tea recipe.

Boba Bubble Milk Tea

HOW TO MAKE TAPIOCA PEARLS AKA ‘BOBA PEARLS’

Making and using these boba pearls requires two techniques. First, you have to make the tapioca pearl ‘dough’ and form the dried tapioca pearls. Once these are ready, you then have to cook them before they can be used in your drink of choice.

The Ingredients:

Flour water brown sugar

  • Tapioca flour
  • Brown sugar
  • Hot water

Note* For a more authentic taste, you can try to find Taiwanese brown sugar (‘black sugar’). However, if you’re unable to find this, then any dark brown sugar will work.

Needed to make the Brown Sugar Boba Drink

  • Extra brown sugar
  • Your favourite tea/iced tea, flavoured milk or even juice/smoothie (I used Bantha Milk – all-natural blue milk)

DIY TAPIOCA PEARLS (BOBA) HOW-TO:

Start by heating up the water and sugar in a medium-sized pot, and heat to medium. Stir until all the sugar has dissolved. Then turn off the heat.

Add about one tablespoon of the tapioca flour and stir until well combined. Make sure there are no lumps. Then turn the heat on again and stir the mixture until it starts thickening.

how to make tapioca dough for tapioca pearls 'boba pearls'

Once it becomes thicker, remove from the heat. Add the rest of the tapioca flour and mix well until you obtain a sticky dough.

On a lightly floured surface (floured with tapioca flour), knead the dough until it becomes uniform, soft and elastic. Tapioca dough can be very sticky, so add some extra flour, if needed.

This can also be done with a stand mixer, but since it’s a small amount and only takes a few minutes, it’s not necessary.

While rolling the dough, if it’s more convenient to work with half of it at a time, make sure to cover the other half, so it doesn’t dry out.

Roll the dough into thin long rod-like pieces. Each roll needs to be quite thin, as the tapioca pearls will expand when cooked later on.

step by step how to make tapioca pearls

Cut the rolls into small pieces. Then roll each piece into a tiny ball. Repeat with the rest of the dough. Now, you have your dried tapioca pearls ready.

Note* If you want to speed up this process, you can skip rolling them into balls altogether. The ‘cube’ like shapes you’ll have may not be as pretty, but they’ll taste the same (just make sure they’re as even in size as possible, when cutting). 

HOW TO STORE UN-COOKED TAPIOCA PEARLS:

If you’re not planning on making your bubble tea immediately, or you’ve made a massive batch of the boba, then these can be stored for later use. There’s no need to refrigerate them – simply keep in an airtight container in a cool, dry area and these are ready to be used for up to 6 months.

If you do store them in the fridge, this can affect the texture of the boba and make them a little harder – although they’ll still be fine to use.

You can also freeze the dough and even the cooked pearls, and this is said to maintain the texture. If freezing the dough, you can then boil them straight away without waiting for them to thaw.

dried Tapioca pearls

HOW TO COOK TAPIOCA PEARLS

In a large saucepan, boil enough water to cover your boba. Then add the tapioca pearls to the boiling water (carefully, so you don’t splash yourself). Stir well, so they don’t stick to the bottom of the pot or to each other.

how to cook tapioca pearls 'boba pearls'

Cover the pot. Boil for 20 minutes, then let them rest for another 20 minutes.

Finally, drain the boba.

You can now either add them to your favourite tea or milk drink or first make a sugar syrup for an extra special treat. I definitely suggest going for the extra next step though, as this takes the pearls from being ‘nice’ to ‘more please’ – adding a caramel-like flavour and softening the texture.

DIY Brown Sugar Boba Drink

To make the brown sugar tapioca peals, first warm up the brown sugar over medium heat for a couple of minutes. The sugar only needs to be warmed up, not completely melted.

Add the boba and stir well to coat all the pearls with the sugar.

HOW TO MAKE BUBBLE MILK TEA:

For a traditional boba, then a black tea base is the norm. However, you can also use a variety of herbal teas, flavoured milks and even juices/smoothies as your drink base.

If making a tea then simply steep the tea bags/tea leaves in warm milk (alternatively, make a tea as you would typically in the water, adding milk to dilute) and leave this to chill in the fridge until you want to use it.

For my recipe, I decided to use this Bantha milk AKA ‘Blue Milk’, as my base. This drink is a sweet butterfly pea flower and lavender coconut milk (inspired by the Star Wars blue milk) and the combination of flavours with the pearls is delicious.

THE STEPS:

Add the warm sugary boba to a cup or glass (use glass for a great visual effect) and roll the cup/glass to coat the walls with melted sugar.

Then add ice cubes (optional) and your liquid – the cold brew tea/iced tea, flavoured milk, juice or smoothie.

You can also top it with some whipped cream and then serve.

Boba Bubble Milk Tea

BUBBLE MILK TEA Square photo

Homemade Boba 'Tapioca Pearls' Bubble Milk Tea

A simple DIY for 3-ingredient homemade tapioca pearls (aka boba) - including how to cook tapioca pearls and a delicious brown sugar bubble milk tea recipe.
4.99 from 81 votes
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Course: Drinks
Cuisine: Asian, Taiwanese
Freezer friendly: 2 Months (uncooked)
Shelf life: 1 Day
 
Prep Time: 20 minutes
Cook Time: 40 minutes
Additional Time: 5 minutes
Total Time: 1 hour 5 minutes
 
Servings:  servings
 
Calories: 144kcal
 
Author: Samira

Ingredients

For the Tapioca Pearls (Boba):

  • 3/4 cup tapioca flour plus a bit more for dusting
  • 2 tbsp brown sugar use Taiwanese brown sugar AKA 'black sugar', if possible
  • 4 tBsp hot water

For the Brown Sugar Boba Drink:

  • 1 tBsp brown sugar soft
  • 4 cups almond milk or any other milk or tea

Instructions

DIY Tapioca Pearls (Boba)

  • Heat up the water and sugar over medium heat. Stir until all the sugar has dissolved. Then turn off the heat.
  • Add about 1 tablespoon of the tapioca flour and stir until well combined. Make sure there are no lumps.
  • Turn the heat on again and stir the mixture until it starts thickening. Once it becomes thicker, remove from the heat.
  • Add the rest of the tapioca flour and mix well until you obtain a sticky dough.
  • On a lightly floured surface (floured with tapioca flour), knead the dough until it becomes uniform, soft and elastic. Tapioca dough can be very sticky, so add some extra flour, if needed.
  • Roll the dough* into thin long rod-like pieces. Each roll needs to be quite thin, as the tapioca pearls will expand when cooked later on.
  • Cut the rolls into small pieces. Then quickly roll each into a ball. **Repeat with the rest of the dough. Now you have your dried tapioca pearls ready. ***

How To Cook Tapioca Pearls

  • In a large saucepan, boil enough water to cover your boba. Then add the tapioca pearls to the boiling water (carefully, so you don't splash yourself). Stir well, so they don’t stick to the bottom of the or each other.
  • Cover the pot with a lid. Boil for 20 minutes, then let them rest for another 20 minutes. Finally, drain the boba.You can now either add them to your favourite tea or milk drink or first make a sugar syrup for an extra special treat. I definitely suggest going for the extra next step though, as this takes the pearls from being 'nice' to 'more please' - adding a caramel-like flavour and softening the texture. 

How To Make Bubble Milk Tea:

  • For a traditional boba, then a black tea base is the norm. However, you can also use a variety of herbal teas, flavoured milks and even juices/smoothies as your drink base. If making a tea then simply steep the tea bags/tea leaves in warm milk (alternatively, make a tea as you would typically in the water, adding milk to dilute) and leave this to chill in the fridge until you want to use it. For my recipe, I decided to use Bantha Milk AKA 'Blue Milk', as my base. This drink is a sweet butterfly pea flower and lavender coconut milk (inspired by the Star Wars blue milk) and the combination of flavours with the pearls is delicious. 

DIY Brown Sugar Boba Drink

  • To make the tapioca peals with brown sugar syrup, warm up the brown sugar over medium heat for a couple of minutes. The sugar only needs to be warmed up, not completely melted.
  • Add the boba and stir well to coat all the pearls with the sugar.
  • Add the warm sugary boba to a cup or glass (use a glass for a great visual effect) and roll the cup/glass to coat the walls with melted sugar.
  • Then add ice cubes (optional) and your liquid - the cold brew tea/ iced tea, flavoured milk, juice or smoothie. You can also top it with some whipped cream and then serve.

Video

Notes

*While rolling the dough, if it's more convenient to work with half of it at a time, make sure to cover the other half so it doesn’t dry out.
** If you want to speed up this process, you can skip rolling them into balls altogether. The 'cube' like shapes you'll have may not be as pretty, but they'll taste the same (just make sure they're as even in size as possible, when cutting). 
*** How to Store un-cooked tapioca pearls:
Always store in an airtight container or reusable bag. 
If you're not planning on making your bubble tea immediately, or you've made a massive batch of the boba, then these can be stored for later use. There's no need to refrigerate them - simple keep in an airtight container in a cool, dry area and these are ready to be used for up to 6 months. 
If you do store them in the fridge, this can affect the texture of the boba and make them a little harder - although they'll still be fine to use.
You can also freeze the dough and even the cooked pearls, and this is said to maintain the texture. If freezing the dough, you can then boil them straight away without waiting for them to thaw. 

Nutrition

Serving: 1serving | Calories: 144kcal | Carbohydrates: 29g | Protein: 1g | Fat: 3g | Sodium: 328mg | Fiber: 1g | Sugar: 9g | Calcium: 305mg | Iron: 1mg
Tried this Recipe? Tag me Today!Mention @Alphafoodie or tag #alphafoodie!

If you have any questions, feel free to ask them in the comments. You can also tag me in your recreations on Instagram @Alphafoodie