Jerash Holdings (US), Inc.

Good morning and welcome to Juresh Holdings Fiscal 2022 Fourth Quarter and Full Year Conference Call. All participants will be in listen-only mode. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then 1 on your touchtone phone. To withdraw your question, please press star, then 2. I would now like to turn the conference over to Roger Pondell. Please go ahead.

Thank you, operator. Good morning, everyone, and welcome to Jurasch Holdings Fiscal 2022 Fourth Quarter and Full Year Conference Call. I'm Roger Pondell with Pondell Wilkinson, Jurasch Holdings Investor Relations Firm. It will be my pleasure momentarily to introduce the company's Chairman and Chief Executive Officer, Sam Choi, its Chief Financial Officer, Gilbert Lee, and Eric Tang, who leads the company's operations in Jordan. Before I turn the call over to Sam, I want to remind our listeners that today's call may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to numerous conditions, many of which are beyond the company's control whatsoever. including those set forth in the risk factor section of the company's most recent Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, and copies of which are available on the SEC's website at www.sec.gov, along with other company filings made with the SEC from time to time. Actual results could differ materially from these forward-looking statements. Jurasch Holdings undertakes no obligation to update any forward-looking statements except as required by law. And with that, it is my pleasure to turn the call over to Sam Choi. Sam?

Thank you, Roger, and hello, everyone. Our fiscal 2022 fourth quarter and full-year sales demonstrated Jurasch's underlying foundational strengths and the attractiveness of its manufacturing capabilities to global brands. But while our top line was up sharply, gross profit for the fourth quarter was impacted by product mix that includes fewer than expected jackass orders, as U.S. retailers face the strains of a weaker economic environment due to inflation. On the positive side, we were able to quickly shift manufacturing to produce other premium brand sportswear items, such as pants and polos, although these items carry lower margins. Duresh is in the fortunate position of having strong customer relationships, along with the ability to attract new customers even during the current macroeconomic environment. Our operations in Jordan offer unique benefits of free trade agreements with the US and EU. Combined with our capability of producing highly complex apparels, the company is positioned as an attractive alternative manufacturing partner outside of Asia for global apparel brands. I'm happy to report that we have received orders from our first European-based high-end apparel brand. Other new customers are in the pipeline as we continue to focus on diversifying and expanding our customer bases. We are taking conservative approach with respect to our guidance, and Gilbert will discuss those details momentarily. From a growth and top-line perspective, our business outlook remains strong. Accordingly, we are continuing to explore plans to increase capacity. In April, we started extension in one of our existing factories to add approximately 1.3 million pieces to our capacity. This extension is expected to be completed by the end of 2022. We also have room for in-house renovation in other premises, that could increase an aggregate of 2 million pieces in preparation of continuous growth in customer demands. I'm now trying to call over to Eric Tang, who is based in Jordan, and then Gilbert Li will cover our financial results. Eric.