STK released 2020 results, in which revenue/NPAT-MI slumped 21%/33% YoY and completed 103%/117% of our forecasts. In Q4 2020 alone, sales edged down 1% YoY while PBT stepped up 3% YoY. However, Q4 2020 NPAT-MI surged 28% YoY as STK’s bottom line in Q4 201