Cyanconnode Share Discussion Threads

[lawson27] 16/2/2024 14:37

Its moving, GLA

[derek ten bag] 16/2/2024 09:48

Can't help feeling that, if only as a courtesy to the LTIs, the company should provide an update on current progress. How are the rollouts of the earlier orders (for Intellismart, Genus and Montecarlo) getting on. Presumably pretty well if Montecarlo have come back for seconds. But it would be nice to get a bit more detail. That said, the comments at the end of the two order announcements this year so far have been very positive about future collaboration, so that has to be a positive. And I suppose we are only about seven weeks into 2024.

[from russia with love] 15/2/2024 15:02

Massive potential news. Many indian based infrastructure companies are now taking advantage of european sanctions against russia and are about to be awarded huge contracts in russia looks like cyan technology will be part of that. Who cares abouts ethics anymore lets win the contracts by hook or
by crook.

[folderboy] 15/2/2024 13:33

Then again we might struggle to maintain 11p

[tightfist] 15/2/2024 13:29

I am more minded to foresee a nascent channel leading to 16p on solid news, with a retracement to 13/14p unless follow-on news flow is swift - but, after all, this is CC…..

[lawson27] 15/2/2024 12:36

aye, i see a stutter @16, bwtfdik!

[inthetin] 15/2/2024 11:49

Hi LAWSON27

What is the significance of 16? Is that a chartist thing?

GL

ITT

[lawson27] 15/2/2024 11:34

Should see 16 on the next run, starting to build, imo, GLA

[inthetin] 15/2/2024 11:23

I'm beginning to wonder if we are ever going to make any proper money here. This lack of news from India re anything Cyan has become farcical.

[tightfist] 14/2/2024 08:20

Here is a CC overview by Bob Liao, the Zeus CC analyst, dated 12 January:
.

.
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And here is a broad overview of India market SM developments:
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hxxps://powerline.net.in/2024/02/05/picking-up-pace-smart-metering-efforts-gain-momentum/
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However: “…..Earlier, in September 2023, it (HPL) had entered into a strategic partnership with Wirepas Oy to offer a high-performance radio frequency mesh solution tailored for the Indian widow….” I don’t recall seeing news of this competing RF development before, and unfortunately it may relate to the HPL news in #7850. I guess we have to come to terms with the presence of competition……
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Cheers, tightfist

[homebrewruss] 13/2/2024 14:43

'HPL Electric and Power Ltd shares surged 10% on Tuesday, February 13, after the company announced it had received an order worth ₹181 crore to supply smart meters.
In a stock exchange filing, the Noida-based electric equipment manufacturer said it has received an order worth ₹181 crore (including taxes) from a leading Advanced Metering Infrastructure Service Provider (AMISP) client.
As per the terms and conditions of the Letter of Award (LoA) secured by HPL Electric and Power, the company will supply smart meters to the leading AMISP client in the normal course of business.'

'HPL Electric is targeting almost 25-30% of the total demand for smart meters in India. This falls in line with the Centre's ambitious target of installing 250 million smart meters across the country, in order to reduce transmission losses in electricity.'

[homebrewruss] 13/2/2024 08:11

Dual SIM yes. From Longspur note.

'Largest CNIC order to date

This order is the largest so far for the company’s dual SIM Cellular Network
Interface Card (CNIC) modules which are able to connect to CyanConnode’s Head-
End-System (HES) thereby allowing network operators to deploy hybrid architectures in varied environments.'

[inthetin] 13/2/2024 08:11

Hi tightfist

You say:

"So, at least in Thailand, they have achieved a competitive price point."

Not necessarily (IMO), John Stamp (JST) has a unique relationship with Cyan, having been its largest shareholder for a while, until that position was diluted away.

For all we know, this CNIC contract could be a loss leader, enabling Stamp and Cyan to get some exposure in Thailand.

This endless wait for news of subbies involvement in India is becoming/has become ridiculous.

Really hope it's worth the wait when it finally does land.

GL

ITT

[tightfist] 13/2/2024 07:50

Interesting that this reads as the largest order yet for CNIC cards whilst integrating them into an HES network, combined with RF modules. So, at least in Thailand, they have achieved a competitive price point.
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Is the dual-SIM module part of this solution? MB insight required! I am not surprised by the muted market response; CC have repeatedly emphasised the Indian market dominance. tightfist

[pillow] 12/2/2024 17:12

Would not be surprised if they've already received offers for company. Good news today interesting to see whats orders materialise that are non indian/thailand based. Can't see this remaining under 20p much longer. New highs ahead.

[nick the greek 1] 12/2/2024 15:49

The main problem here is the lack of new buyers.

Thus making it a traders plaything.

Which is why another reason why it’ll be a (relatively) easy take over for an acquisitor.

Are the two linked one could ask oneself!?

Next leg up anybody……;…

[derek ten bag] 12/2/2024 15:16

Thanks for that info HBR. For all that we got an unexpected order today and this Zeus note, I am surprised at the relative lack of comment on here. Be good to get an Indian order very soon. Two pieces of 'significant' news in quick succession should surely move us to a higher level. Today's news has had a pretty muted response.

[homebrewruss] 12/2/2024 09:42

From the Zeus note today

"Opportunities in India just starting:
CyanConnode’s revenue opportunities in India are at an early
stage and should multiply. India’s Revamped Distribution Sector Scheme (RDSS) targets
sanctioning 250m meters by March 2025. However, only 2.8m RDSS-related meters (9.0m total)
have been deployed, according to India’s Ministry of Power as at 7 February 2024. Whilst 198m
RDSS-related meters (222m total) have been sanctioned and 88m RDSS-related meters (108m
total) have been awarded, far fewer meters have named sub-suppliers and only the small
numbers of meters above have been deployed. We expect the large numbers of sanctioned and
awarded meters to soon filter down to subcontractors such as CyanConnode. There is typically a
delay of a few months between the award of the contract to the prime bidder and the subsequent
award to subcontractors. Given CyanConnode’s high win-ratio in India of approximately 25% in
terms of volumes, the company anticipates making further contract announcements in due
course.

Strong backlog supports FY24:
CyanConnode stated on 11 January that its cumulative order
intake in India is 6.3m units, with 3.9m units in backlog. The delivery of some of these
backlog units over the final quarter of the year should allow the company to meet our
revenue expectations of £16.3m in FY24. The company needs to generate only £10.5m of
revenue in H2 FY24 to meet our full year forecasts. This appears conservative to us since it
represents almost no growth from H2 FY23 revenue of £10.4m, despite increasing contract
momentum this year in India and other markets.

Valuation:
We believe CyanConnode is undervalued. The company offers much higher
growth than peers but its shares trade only in line with peer group median multiples (12x
2024 EBIT). The median sales growth of the Electronic Equipment and Components peer
group is only 6% compared to almost doubling of sales for CyanConnode in 2024."

[derek ten bag] 12/2/2024 09:24

PS: I note that JC mentions that this order 'broadens our engagement'. Does this imply a broadening of the product offering or a move into other Thai territories? Nice to see it being referenced as a 'significant' LOA and also that it is the largest LOA received to date for the CNICs.

[derek ten bag] 12/2/2024 09:18

Morning SBP. Agreed. As regulars will know, I have been asking about Thailand for a while now, so nice to know that contract is still extant and, we hope, expanding. I'm not too up with the actual technology involved here but is the order for these cellular modules putting in place infrastructure ahead of a possible larger order for the full package of meters etc. I am assuming this is still for the MEA. Better than nothing anyway. and nice to see blue back on the screen.

[stupidboypike] 12/2/2024 07:17

Nice bit of news while we wait for the main event.
By the way 1st Q fy 2025 is apr, May, June 24. So not far away.
Best regards SBP

[derek ten bag] 09/2/2024 16:54

If anyone is still awake out there, any thoughts on that late flurry of trades. Buys? Let's hope so.

[tightfist] 07/2/2024 17:20

A concerning thought……;.Do I detect there is a trend towards CC placings just before half-year ends to shore-up the reported cash level? Regardless of whether it is operational cash flow, or not. Maybe I am just feeling cynical, maybe it is the inherent unpredictability of contract awards.
.
If India Inc is thinking of acquisition, keeping CC starved of cash would be my chosen ploy. tightfist

[inthetin] 07/2/2024 17:06

Hi DW

You're never going to be that far off predicting a fundraise here. That's why I was trying to contact the two Johnsons (one at Zeus and the other at Strand Hanson - are they related?) to see if I could get a 'speedy boarder' pass but that tactic failed.

My guess is that some of the last 18M 10p shares are still being sold off at a profit.

Invested in a VCT today instead - can't just keep buying these.

GL

ITT