Q1 2021 Ever-Glory International Group Inc Earnings Call

Good day and welcome to day ever Glory International Group first quarter 2021 earnings Conference call. Today's conference is being reported at this time I would like to turn the conference over to Wilson Bow. Please go ahead.

Thank you operator.

Yeah.

Everyone and welcome to Evercore International group's first quarter 2021 on this conference call.

The company is true.

In the earnings press release earlier today and that's why on services. You can also go on Modi from Evercore Isa website at Ww.

And you got ever provided appropriate and land work dot com with us today is ever growing as Chief Financial Officer, Mr Chase and Wow.

And.

Ever Glory, Chairman, President and Chief Executive Officer.

Good day is on that business trip and.

And he is unable to join the call so and we used a while we will read the prepared remarks on behalf of Mr. Kam.

Before we get started I will review the Safe Harbor statement regarding todays conference call. Please note that the discussion today will contain forward looking statements made under the safe Harbor provisions on the U S.

Private Securities Litigation Reform Act of 1995.

Forward looking statements involve inherent risks and uncertainties and.

As such the company's results may differ materially from the views expressed today further information regarding these and other risks and.

Certainties.

Included in the company's annual report on form 10-Q.

First quarter ended March 31, 20.

2020, one and in other documents filed it leaves the U S Securities and exchange.

And the commission.

Ever Glory does not assume any problems.

Location to update any forward looking statement, except as required.

Applicable law.

The conference call.

In addition, and.

Total net cost of this conference will be available on ever.

That's true relations website.

I will now turn the call over to Mr. <unk>.

Thank you.

Good morning to those and the U S.

And moving into zone.

And Asia. Thank you for joining our first quarter.

Good day.

Since it was funny and cover coal.

We are very pleased to announce that.

Clinton and do well.

Third quarter results with cash.

From day, one corn and 4% quarter on quarter increase quarter field.

Good day, we achieved quarter on quarter improvement in gross margin.

So the nine point and likes it.

On the fuel side, I'll browse and continue to attract new customer and then existing customer by forecasting on design quality and value, our mentoring measurement and <unk> continue to improve the balance between and rental rate.

And Nova and our diligent cost control measure force Chisholm.

Uh huh.

Over all business.

On the mortgage.

And located true score during the fourth quarter or two.

And there was as much so do we.

<unk> consistently what we operated a nation wide net of walk So 910 day, one source comparatively well.

1000, and so is it.

As of March so they'll walk to the turnkey.

During 2010 day, one week and.

With a C T I.

Book.

And I'm like Google and the effects of the Sandy Bridge, we are and you have all brown and fruit.

And while we're still seeing strong debt do you mind for all product and our retail stores. We continue to see opportunities is that you come and see.

And my book profitable such as our La go go stores on Tmall.

And even though our youth as Cynthia and cheap and effective way for us towards job customer and <unk>.

And <unk>.

Encourage cross channel shopping reduced also to see the inventory.

And it created.

You and nickel and different.

Differentiated how come on it's Brendan to grow our loyal customer base.

And if you start in fact hit by COVID-19, and there's a pretty sharp herbs and.

Got all Mcdonald's Hope we will.

Active day is bulk true that tengiz.

And that internal economic.

He's tunnel.

You can all make you Benjamin.

I'll also share beneath the comdata has and has.

Extensive product.

The environment and our supply chain management.

And we're on.

And that's work or high quality.

Libra and the cost that you're crazy and sourcing channel and manufacturers.

In addition, our market Research Center provides our associates customers and with little dips and you saw it.

And in northeast and the Audi.

From Korean Brown and positioning crashing channel.

And even with HBO.

And with your development and the New York Times design going forward, we will continue to forecast.

And housing all product development.

Cash related and on the mining the Coke on my bad.

Our long term vision of being a leading by chip solutions provide for me too high and brown or in mainland China and worldwide.

This includes miscarriage comb and.

I will now walk through our financial results for the first quarter. So content from day, one but it is no doubt on numbers, you've got state and you have told us on this otherwise noted.

So let's see on fourth.

First quarter, 'twenty, and 'twenty are well, well 90 point epimedium equally well.

And to 1.4% from <unk>.

And pardon for many and in the first quarter 2020.

This increase was primarily driven by a full point tool per cent and.

And Oh cause that'd be nice and so on a 2% increase.

And the Choppiness.

The other for the complex Brown and fashion apparel retail division increased by 32% true photo fill and 0.6 medium for the fourth quarter or 22, and two well compared with six T. H.

And at point of Wall media for the first quarter 2020 is.

Chris was primarily due to the increase in Samsung Z on the.

And the Comdata had.

902, and there was it yourself.

Sure.

As of March 31, two and they tend to work compared with 1000 and and so it.

And you're just doing a much sort of rock tenn and attentive.

And that was before the Congress hooked up division increased by four and took that true trend as reported to me and here for the fourth quarter on country. It from day, one compared with two new true core and 3 million for the fourth quarter and return to this increase was primarily attributable to her and grid.

Mainland, China, Hong Kong, the United Kingdom, and the European market.

Artists and the off debt 40 degrees C R.

And Japan and in the United States.

It'll go up and prepared for the first quarter or turned it from day, one and gripped by who.

And nine 9% true turn it to a partner for medium and compare that with.

And his team many of them for the first quarter or what kind of trend to total gross margin for the first quarter or convince them to work and grid true hurdle wall and part of sovereign debt from Tennessee and point of five per cent for the fourth quarter and Atlantic.

Growth for basketball and the retail business increased by 42.5% true 17 point and I immediately for the first quarter trended from day, one compared with.

12.5, many of them from the fourth quarter from 10 to 20 gross margin for the first quarter or turn it on the wall was so there is that I'm quite thin compare true to their full point.

Eight per cent for the fourth quarter from 10 to 20.

Well prepared for the wholesale business increased by who reported a five.

And 5% growth.

Ballpoint sales medium for the fourth quarter the content on their work compared with reported a 5 million for the first quarter and Newton.

Hunting.

Gross margin for the fourth quarter 121 increased to 19 six per bed from.

15 point sale and for the full quarter fluctuations.

Selling expenses for the first quarter or 22, and the wrong increased by 15 point of folks at 215 point of 5 million or 202 per se.

And of course sales compare to with.

13.5 million tourists, so 23 point and bumps and auto sales for the first quarter or 10 to 20, and the increase was attributable to debt and crude steel.

General and the mentality of incentive fees for the fourth quarter or 10 day to day, one increase by 35.7% towards important 9 million on you.

And I'm kind of walks and apparel sales compared with five point and a median of nine point and likes it from kind of feel on our book quarter over 2020. The increase was mainly attributable to the deep growth.

Grid business trips and is at its best.

And that's yet.

Sorry on benefits by them.

I see government and so on the 20th.

Loss from operations was low medium for the fourth quarter tended to on the wall compared to three point of true medium.

Our fourth quarter and they don't take.

Net loss attributable to the commentary for the first quarter no transition there Walt what 1.2 minute compete away the tube core and a 7 million for the fourth quarter book to New 20 basic and diluted loss per share was it.

And since for the fourth quarter alternate from the walk compared with.

18 cents for the fourth quarter of 2020.

As of March 31 standard.

And it and they'll walk ever Barry had approximate to that sales.

And point of 1 million of cash and request.

Crude and computer with approximately today and it.

And at 1.9 million as of December 31 cause attempting ever.

Lori and had to work working capital well.

A proxy me today for this reported 7 million as of March could you walk from day to day work and outstanding being alone on a pro.

And me today, and so the wellpoint and a 5 million as ever.

Much of the work content from day one.

Our relentless if that had been paid off with Ah Congrats on the wall with quota dissolve and we look forward and photos test and is therefore.

Fundamental and increasing operation leverage to force the long term profit ability of our business banking for price painting and ever go raise transits and they're well fourth quarter earnings call. We look forward and talking with you. That's caught up if you have additional questions. Please feel.

Free to contact our IR Department Goodbye and thank you.

Thank you operator.

This concludes today's call. Thank you for your participation you may now disconnect.

And.

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