Jerash Holdings (US), Inc.

Ladies and gentlemen, thank you for joining us for this JARASH Fiscal Year 2020 Results Conference Call. As a reminder, all participants are in electronic mode, but later you will have the opportunity to ask questions. To get us started with opening remarks and introductions, I am pleased to turn the floor to Matt Kreps with Darrow Associates Investor Relations. Welcome, Matt.

Thank you, Jim. Good morning, and welcome to the JARASH Holdings Fiscal Fourth Quarter and Full Year 2020 Results Conference Call. With me today is Sam Choi, our Chairman and Chief Executive Officer, Gilbert Lee, our Chief Financial Officer, and Eric Tang, who leads our operations in Jordan. Our results press release issued earlier today and an updated investor slide deck are available on our website, www.jarashholdings.com. Today's call is being recorded and will be available for playback. All participants will be in a listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. The operator will provide a detailed reminder of the Q&A instructions once management has completed their prepared remarks. Before we begin, a quick reminder about forward-looking statements made during the course of this call. Statements made by Juresh management during the course of this conference call that are not historical facts are considered to be forward-looking statements subject to risks and uncertainties. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for such forward-looking statements. The words believe, expect, anticipate, estimate, will, guidance, outlook, indicate, suggest, forecast, target, grow, seek, goal, and other similar statements of expectation identify forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and important factors that can cause actual results to differ materially from those reflected in the forward-looking statements. These risks and uncertainties are detailed with the U.S. Securities and Exchange Commission. Participants on this call are cautioned not to place undue reliance on these forward-looking statements, which reflect managers' belief only as of the date hereof. The company undertakes no obligation to publicly release the results of any revision to its forward-looking statement, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. I will now turn the call over to Sam. Please go ahead. Hi. Thank you, Matt.

Hello, everyone. I'm pleased to join all of you today for this call. Fiscal 2020 turned out to be a very strong year of growth for Juresh, with sales growing 9.5% to a record 93 million. Our key goal for the year was to diversify our customer base, with more than 7% of our revenue from new customers who are expected to further grow their business with Juresh in fiscal 2021. We also invested in additional capacity during fiscal 2020, acquiring with Paramount Manufacturing Access for approximately $1 million. We actually made this increase our annual production capacity by more than 23%, or 1.5 million pieces, which has been almost fully booked with new orders since we started this facility with our trained workers. I'm very proud of our team's hard work and dedication to that process. We also opened a sewing workshop in El Hazard in Jordan through an exciting partnership with the Sudanian government. Juresh is a socially oriented company dedicated to not only profitability for our stockholders, but also creating quality employment for people in Jordan. both permanent citizens and a global workforce that comes to Jordan on multi-year work contracts. The Al-Hassab project was decided to create local jobs for Sudanian women in an underserved rural area. This female-focused workshop is up and running with great success. One of their first projects was suing customers North Face Garment, so in Europe, to celebrate International Women's Day. These projects are particularly exciting to Doresh because they advance both good business and also good social responsibility. BISCO 2020 was not without its challenges, though, including the global COVID-19 pandemic that closed our facility in the last two weeks The pandemic will have an impact on our fiscal 2021, but a number of orders deferred at the start of the pandemic have been reinstated, a good sign for the ranch. In fact, Jordan has proven to be a success story in its COVID response, and our factories are now 100% back to work, with a number of additional considerations to protect our workers as well. Before passing the call to Gilbert, I want to acknowledge our recent addition to our Board of Directors. Bill Kohn has joined our Board as an Independent Director and Chair of our Audit Committee after Son Socha sat down. I want to thank Son for his service since our IPO and wish him well. Bill is a Harvard MBA and currently the CFO of MTBC Inc., a fast-growing NASA listed company based in New Jersey, close to where our US office is located. Bill has helped with more than 15 acquisitions since MTBC's 2014 IPO. This is an area where his knowledge and experience can be helpful to our future. MTBC also has very loyal long-term customer and uses a global workforce at facilities based in Pakistan to offer its customer economic advantages, such much as direct long-term customer benefits of our high quality but lower cost workforce in Jordan. We believe in the experience and specific knowledge of several areas Thank you, Sam.