Jerash Holdings (US), Inc.

Good morning, everyone, and welcome to the Jirash Holdings Fiscal 2024 Fourth Quarter and Full Year Financial Results Conference Call. At this time, all participants are in a listen-only mode, and we will open for questions following the presentation. If you should require any assistance during the conference, please press star zero on your phone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Roger Pondell, Investor Relations at Jurasch Holdings. Roger, the floor is yours.

Thanks so much, Jenny. Good morning, everyone. Welcome to Jurasch Holdings Fiscal 2024 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. It's Chief Financial Officer Gilbert Lee and Eric Tang, who leads the company's operations in Jordan. Both Sam and Eric are 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 factors 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 those forward-looking statements, and Jurasch Holdings undertakes no obligation to update any forward-looking statements, of course, except as required by law. And with that, I will turn the call over to Sam Choi. Sam?

Thank you, Roger. Since October of last year, the Red Sea Crisis, triggered by multiple attacks on cargo ships by healthy rebels has continued to cause supply chain disruption throughout the Middle East region. Even though an alternative shipping route has been established to receive raw materials, bottleneck and vessel punching cause delays, impacting production for our global customers, and in turn, the company's financial performance for the quarter and fiscal 2024. Gross margin, likewise, was down due to the significantly higher ocean freight and transportation costs from Asia to Jordan. Despite the shipping situation, we have identified and are aggressively increasing our source of raw materials from Turkey and Egypt. This is allowing us to bypass the treacherous shipping routes, and mitigate related logistic costs. Also, on a positive note, we are experiencing a tangible increase in purchase orders from long-term customers. Additionally, we are receiving a fresh pipeline of business from new high-profile global brands, both directly and through our joint venture with Bosana. We are now increasing orders from four global brands through Bosana. Our joint marketing efforts are continuing and believe there will be solid new business opportunities ahead as more companies look to reduce costs by shifting their production to tariff-free countries such as Jordan. In view of the current geopolitical situation, we have decided to delay our plans to build a state-of-the-art fabric mill in Jordan with another joint venture partner, New Tech Textile. For long term, our objective remains being a trusted manufacturer partner providing sustainable solutions as an environmentally cautious leader in the apparel industry. I will now turn the call over to Eric Tang, who is in charge of our operations in Jordan.