Jerash Holdings (US), Inc.

Greetings. Welcome to the Jurasch Holdings Fiscal 2023 Fourth Quarter and Full Year Financial Results Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Roger Pondell, Investor Relations for Jurasch Holdings. You may begin.

Thank you, Holly, and good morning, everyone. Welcome to Jurasch Holdings Fiscal 2023 Fourth Quarter and Year-End 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 CEO, Sam Choi. is Chief Financial Officer Gilbert Lee, and Eric Tang, who leads the company's operations in Jordan, and today is calling in from Indonesia. 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, including those set forth in the risk factors 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, and Jurasch Holdings undertakes no obligation to update any forward-looking statements except, of course, 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. The retail sector is facing challenging times following the pandemic, persistently rising interest rates, The inflationary impact and other factors all are having an impact on consumer spending. Apparel brands have not been immune to today's environment, which for Juresh translates to smaller orders and the product makes shift to lower margin goods and an impact on our fourth quarter results. Fourth quarter revenue also was negatively impacted by approximately three millions of orders that were deferred by customers to the current first fiscal quarter. Nevertheless, during this period, we are continuing to focus on our initiative to diversify Jira's customer base, both through our own marketing activities and through our recently signed joint venture with Prasanna Apparel Group. In March, we announced the Prasanna Agreement to form a joint venture, which is progressing well in this formative state. We have received positive feedback from Bosana's global customers with expressions of keen interest in geographically diversifying their production from Asia to Jordan to take advantages of duty-free agreements with the US and other countries. In fact, discussions already have begun for costing and pricing of a number of styles with three potential joint venture customers. And we anticipate initial orders for joint venture to start as early as the second half of the current fiscal year. Also, on the positive front, our fiscal 2023 initiative of diversifying to rest customer base is paying off, having gained additional new global brand customers We are making good progress, ramping up production for Timberland. And moving into our new fiscal year, we are continuing to produce high-margin products for our new European-based apparel brand. I will now turn the call over to Eric Chang to talk about our operations, and then to Gilbert. We will then discuss financial results.