On 28 August 2023, Micro-Mechanics Holdings Limited (“MMH”) have announced the full year results for FY2023. As earlier highlighted by management, results in this financial year have deteriorated due to over weakness in the industry. It remains to be seen over the next few years if they are able to recover.

They also performed a dividend cut that is more than pre-Covid levels, and is currently unfavorable in the current high interest rate environment. I have increased my expected reasonable dividend yield for 2023Q4, given that the last few days of September 2023 we have seen the 10-year yields increase to 3.40%. This would mean that the dividend cut will not be well received, and share price fall will likely happen after the payout in November 2023.

However, a lowered share price would also mean more opportunities for investors to enter for a long term recovery. Investors will need to