Jerash Holdings (US), Inc.

and welcome to the jurash holdings fiscal 2024 second quarter financial results at this time all participants are in a listen only mode and the floor will be open for questions after the 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, Mr. Roger Pondell, Investor Relations. You may begin.

Thanks so much, operator, and good morning again, everyone. Welcome to Jurasch Holdings Fiscal 24 Second Quarter 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, including those set forth in the risk factor section of the company's most recent Form 10-K, as filed with the Securities and Exchange Commission, 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 as required by law. And with that, it's my pleasure to turn this call over to Sam Choi. Sam?

Thank you, Roger, and hello, everyone. Our second quarter performance again demonstrated Jurasch's ability to attract new customers and our resiliency in a challenging apparel environment. Retail market conditions for global brands in the US and Europe has been slow to recover, which, in return, is impacting our business compared with the prior year. Customers' orders have generally shifted to lower-priced items, which carry lower margins. Nevertheless, our revenue and gross margin remain essentially stable on a consequent basis. During the quarter, good progress was made with our Busena joint venture partner. Thus far, five joint venture premium brand customers have committed to placing orders. Marketing to additional prospective customers is continuing and feedback is encouraging. Current projections from the joint venture for the next 12 months call for about 8 to 9 million in new orders, starting in a meaningful way in our fiscal fourth quarters. On Jerez customer front, Timberland, has increased its orders significantly and has become the second largest global brand to Juresh. We are also producing our first trial orders for Vance Apparel, another VF corporate brand, and a confident order flow from Vance will increase significantly next fiscal year. As well, Business from our first European-based high-end apparel brand continues to expand. We are currently projecting a doubling of orders in the second half of fiscal 2024. Furthermore, we are excited about the opportunity created by our recently established joint venture with NewTekTexas. a textile innovation and solution company. This venture is expected to enable Juresh to employ the latest technology to offer customers a new array of sustainable and innovative textile products. The proprietary textile dyeing process technology is expected to reduce water usage by approximately 90%, energy consuming by approximately 65%, and carbon footprint by over 50% in comparison with traditional processes. To achieve this, we plan to build a state-of-the-art fabric facility in Jordan, with construction to begin in 2024, and a merged terrace as a leader in ESG textile manufacturing, which is in keeping with our long-standing commitment to sustainability and responsible growth. Lastly, I want to give an update regarding Middle East, which is on everyone's mind. Since the turmoil began, we have been closely monitoring the situation and keeping our customers informed. Currently, production is ongoing as usual. There have been no changes with customers' order or commitment. And both ports that Jiraish uses for import and export are functioning normally. I will now turn the call over to Eric to talk about our operations. and Gilbert will then discuss financial results.