JASIC has published its financial reports of the first quarter and the first half year of 2020 respectively on April 25th and July 29th, 2020. This has been a challenging year due to COVID-19 and uncertainty in international trade and geopolitics. However, JASIC has maintained relatively stable operation during hard times.

First Quarter Performance

JASIC reported total operating revenue of USD 20.43 million for its first quarter of 2020, a decrease of 30.01% from the same period last year.

Period	2018-Q1	2019-Q1	2020-Q1
Total operating revenue	$25,354,878.67	$29,196,697.42	$20,434,380.67

Operating income has reached USD 5.52 million, a 7.87% year-on-year increase, while total profits are USD 4.86 million, down 5.17% compared to the previous year. Net profit attributable to shareholders is USD 4.14 million, slightly decreasing 2.98% from a year earlier, while earnings per share of USD 0.06 has remained steady in the first quarter compared to a year earlier.

Period	2018-Q1	2019-Q1	2020-Q1
Operating income	$4,074,225.63	$5,120,616.65	$5,523,626.32
Total profits	$4,083,201.80	$5,125,799.14	$4,860,728.20
Net profit attributable to shareholders	$3,325,296.35	$4,272,983.83	$4,145,639.86
Earnings per share (in CNY)	0.05	0.06	0.06

First Half-year Performance

In its first half-year report, JASIC posted total operating revenue of USD 59.51 million, a decrease of 12.98% from the same period last year.

Period	2018-H1	2019-H1	2020-H1
Total operating revenue	$65,162,728.41	$68,388,158.30	$59,511,340.87

Operating income is USD 16.61 million, a 9.56% year-on-year decline. Meanwhile, total profits are USD 15.94 million, down 13.32% compared to the previous year. Net profit attributable to shareholders is USD 13.57 million, falling 11.24% from a year earlier. Earnings per share is USD 0.20, dropping 4.76% compared to the previous year.

Period	2018-H1	2019-H1	2020-H1
Operating income	$14,822,451.93	$18,375,622.63	$16,619,335.35
Total profits	$14,860,797.53	$18,392,598.57	$15,942,804.73
Net profit attributable to shareholders	$12,471,108.60	$15,298,192.82	$13,579,142.45
Earnings per share (in CNY)	0.17	0.21	0.20

As an indispensable part of JASIC’s business, export sales have reported operating revenue of USD 25.84 million in the first half year of 2020, a 10.34% year-on-year decline. Operating costs is USD 15.59 million, falling 12.39% from a year earlier, while gross margin has reached 39.64%，up 1.41% compared to the previous year.

Period	2018-H1	2019-H1	2020-H1
Operating income	$28,067,661.73	$28,820,731.98	$25,841,109.21
Operating costs	$17,413,575.59	$17,802,290.53	$15,596,981.50
Gross margin	37.96%	38.23%	39.64%

The second half of 2020 is still full of uncertainties, but we will keep committing ourselves to product upgrade according to our company’s strategy. JASIC export department remains confident in maintaining its current momentum and preparing for the challenges in 2021.