Q4 2020 Ever-Glory International Group Inc Earnings Call

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Good day, and welcome to day ever Glory International Group fourth quarter of 2020 Earnings Conference call. Today's conference is being recorded and.

And I would like to turn the conference over to Mr. Real Some Oh. Please go ahead Sir.

Thank you all for that.

Hello, everyone and welcome to ever Glory International group's fourth quarter of 'twenty 'twenty earnings come from.

The company it could be okay. It's funny it's gradually.

Good day ladies.

And why those services you can also download it from Evercore I'll leave that aside.

Www dot ever Glory.

For dotcom.

We took a day is ever Glory, Chief Financial Officer, Mr Jesus and wall.

And at least that's you know what.

Call ever go as chairman and President and Chief Executive Officer is on the business trips a day and I'm.

And they go to join the call. So at least a warm and we all read the prepared remarks on behalf of tell from these dot com.

Before we get started and I will.

With you of the Safe Harbor stay for them.

Today's conference call. Please note that the discussion today will contain forward looking statements.

I'm Gonna free.

And how about provision was up the U S. Private Securities Litigation Reform Act up 1995.

And looking statement and headwinds.

Risks and uncertainties and such company for results.

Okay.

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For the.

Information regarding these and other risks and uncertainties.

And the company is ultimately good for all.

Form 10-Q for the first quarter.

Tender and stuff he is trying to accomplish and annual.

Annual report on form 10-K for the fiscal year and two sides and studies.

So that's plenty of comedy and.

And in other documents filed with Securities and exchange.

Michelle.

Ever Glory for smartphone.

And the obligation to update any forward looking statement, except as required.

And the applicable law.

As a reminder, this conference call is being deployed.

In addition, and.

Audio webcast of this conference will be available on simple so long as the investor relation website.

I will turn the call over to Mr Walker and team.

And with it.

Good morning for zone.

And good evening for growth in.

And as you're thinking.

And for joining our fourth quarter from there.

The 10 day conference.

Okay cool.

We are better for now until late in the fourth quarter results with a coupon of 7%.

Year over year increase and cost per foot.

Loved it.

Not really.

And our team achieved a year over year improvement and growth per book.

Eight point and work.

For all we took early.

And Craig was primary due to an improved and sales.

Book to Bill.

I'll get hillside and Bronx continue to attract new customers and you can lift and.

And kaka Merck by for coking coal and design.

Design quality and value.

And inventory management shrinkage continue and true the bonds.

Inventory turnover and our dividend Coke and true New York for the stringent for.

So all in all.

Order to create more useful and that's.

This book location and the motive and reserve located.

It could force thoughts for you in terms of countries.

Number two they want for nutrient kit.

Where do you imagine a wide net.

Walk.

100 and.

And so there's six thoughts compared with 1000 for all home and get it well you just saw.

As of December two the walk from the 19th.

During 2020, we incorporated when he got to brik to either.

And.

For Covid.

But the fact of the suitability and he has a broad input.

And while we've got jumped I mean demand for our product and I'll get your thoughts, we'll continue to see opportunities and you got.

He promised me Oh, Yeah my.

And my book product and platform such as our La go go thought on T mall and it.

Jim Don and they'll call and arguably.

Yep.

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Talk to you and wait for us to drive customer engagement.

Encourage.

Cross channel shopping day.

And without all the speed and the rental rate and credit.

The other unique and different.

The average age come from a per group to grow our loyal customer base.

The company itself.

And there is.

And we can make sense for him.

He started as a company.

First thing a sharp decline.

Order quantities.

Great.

COVID-19, and wrong to the board and as a prisoner of debt because all me.

And Tony will be actively default the Cherokee Inc.

Internal economic.

[laughter] environment, I, though our close up and with the commentary you had.

And it tells me and protect your rubber mint and supply chain management. He spent and type I agree I led a book for the high quality and.

Reliable and cost you said.

I appreciate all the channels and the med and factories.

And for Cheryl our market Research Center provides.

Hope, you're all customer and do you still and that's another thing and the other.

And I'm, calling from Covid.

And they're producing positioning and Pfizer.

Interest and your materials development and and you got your dying putting them for what we all continue to forecast and it hasn't.

And our product development.

Now for any case and.

Optimizing the customer base.

And our long Televisa and <unk> being a leading by channel.

Yeah and provider for mid to high and are proud of brown, both in mainland China and worldwide.

They come down and he is also positive.

Operating could be and.

But for me is updated by general condition and in fact global Crummy and coding curriculum that are outside and it can chew and Pat.

<unk> for health and safety concerns from the.

The outbreak of COVID-19, although Tyler has already gone through and you cover from the.

Our Republic 19th.

E ticketing epidemic continue continue to break all of the global peer and is there any risk from the extended he told me to China and they can look for your chips, thereby kaki and filled up and needs interruption.

This concludes my comments.

Comments other.

And like.

I will now walk through our financial results for the fourth quarter and the turnkey.

Please note that all numbers because of the day and you saw that.

Unless otherwise noted.

For Europe for near term day of financial results for.

For the four year old country country was 250.

Good day, and employment for Millennium and <unk>.

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300 <unk>.

Reported 1 million and the full year.

For the 19th and <unk>.

Degrees.

For the primary driver and bye.

For the nine 9% decrease.

And 10 reported.

Part of a 1% decrease and choppy.

Sales for the company from scratch.

And if apparel retail division decreased by 10 to 12, and a 1% to walk out and get the 51 million for the four year old and new country comparator with Wow, Hungary, and sell them for 9% and premium for the for Ya.

And then 19. This decrease was primarily due to a degree with your same store sales.

The company had 900 and so.

For the six retail stores as of December for say, two up and they tend to compare to with.

1000, Wahoo and and Walnut Hill.

And that's pretty well for the 19th.

For the company fulfill division decreased by 39 point and mindset to work holiday and a $17 2 million for the for you open it and to some of your other with flow hunger and 95 parts.

For a million for the for you owe to 1950 credit was primarily a tip for two.

The Christmas sales.

And then in China, Hong Kong German day.

Other capex not kids and the United Kingdom.

Political.

For the growth for that for the full year true.

And Kip decreased by two necessarily point to a true $91 2 million compared with Hollywood and.

And 18 point and convenient for the full year can and I put up.

Gross margin equate to for the fall quite a 1% from.

And for the four year old COVID-19.

Perhaps for you chop units decreased by can get true point of one debt to 51 5 million for the for year can be kincaid compared with $78 9 million for the for year 2019 gross margin was for the poor nice kit to meet a tool for the tube.

For the full year olds and the 19th.

Both for fast for the whole CRB and <unk>.

Decreased by <unk>.

For the for profit to kindergarten and gave them.

Guidance for the full year 'twenty 'twenty compared with 39 9 million for the for you owe to 19.

Gross margin and creating tools can get five for the full kit from from appointed for profit for the for Ya.

Right.

And expenses for the four year old and they shouldn't it decreased by third party sleep.

Sleep debt to $56 million.

And some nice debt sales.

Compare that with $80 2 million or.

From reported nine debt, so I'm kinda fill up and for the four year old and the 19th the decrease was attributable to the newer sales.

Yes.

The domestic share of expenses for the for your country decreased bias.

And never point to cause it to go to Rob for $2 million for.

11, 27% for Peter.

Compared with 55 credit of 1 million or nine to prevent and go to the sales for the full year of 19 to go back to them.

Was that a shift toward a decline.

And I'll start.

Income from operations for the for you all could kind of twin tip income.

And by 19 quantified.

For a full part and a 1 million compared with reported five unions for for your other kinds of 19.

Net income attributable to the commentary for the for year or for Nitro.

What's great for the 3 million compare to read.

While I'm quite linear for the for year 2019, basic and diluted earnings per share walk.

And the truth is for.

For the full year, 2020 computer with Ryan and thanks for the for year 2019.

As of December 31.

Ever Glory had approximately today and wellpoint and <unk> 9 million from cash and cash equivalents compared with approximately 48.6 million as ever.

December so they work and life.

Ever glory kind of what is acceptable.

And again.

And nine 3 million.

As of December because you walk and they took it.

And I'll spend and paying a lot of approximately 55.

8 million as of December 31, and the 10-K.

Sure.

And if your thoughts have been paying off with a 10 day to day fourth quarter result, and we look forward to for the channel.

Strengthening the fundamentals and increasing operating leverage to board and long term profit ability of Apis and you didn't.

And for public opinion.

Ever Glory, 10 day, 24th quarter earnings call and we look forward to talking with you and best quarter.

If you have additional questions feel free to contact our IR Department Goodbye and thank you.

Thank you operator.

Thank you Sir this concludes today's call. Thank you for your participation now disconnect.

And for your next time.

In fact and.