- Aztech (SGX:8AZ)'s 3Q25 revenue of S$133.5m and NPAT of S$10.8m was slightly better than our estimates. Aztech secured 22 new products and added 11 new customers with 5 new products to start production in 4Q25. It has also right-sized its China and Malaysian factories for better efficiency.
11 new customers.
- - Read this at SGinvestors.io -
Right-sizing capacity.
- Management’s been active in right-sizing its manufacturing capacity. It sold the factory in Dongguan, China for S$7.3m and leased it back. It also sold the Gelang Patah facility in Johor, Malaysia for S$8.7m. Both sales are expected to be completed by 4Q25.
Outlook slightly better.
- - Read this at SGinvestors.io -
- We do not expect revenue and profitability to recover to FY23 levels anytime in the near future.
Maintain HOLD, raise target price to S$0.61.
- Read more at SGinvestors.io.
