On April 17th, JASIC announced its first quarter 2021 financial report, delivering outstanding results that exceed expectations.
JASIC has demonstrated remarkable resilience regarding the total operating revenue. It reported total operating revenue of USD 47.30 million for the first quarter of 2021, up 114.59% compared to USD 22.04 million one year ago.
|
Period |
2019-Q1 |
2020-Q1 |
2021-Q1 |
|
Total operating revenue |
$31,496,276.82 |
$22,043,825.75 |
$47,303,236.27 |
Other key indicators of JASIC’s financial performance have also been considerably improved. Operating income rose to USD 10.31 million, a 73.09% growth year-over-year. Meanwhile, total profits were USD 10.35 million, up 97.32% compared with the first quarter of 2020. Net profit attributable to shareholders was USD 8.83 million, increasing 97.44% from the previous year. Earnings per share were USD 0.02, doubled the last year.
|
Period |
2019-Q1 |
2020-Q1 |
2021-Q1 |
|
Operating income |
$5,523,924.75 |
$5,958,676.12 |
$10,313,857.45 |
|
Total profits |
$5,529,515.43 |
$5,243,567.06 |
$10,346,623.80 |
|
Net profit attributable to shareholders |
$4,609,531.00 |
$4,472,157.20 |
$8,829,693.06 |
|
Earnings per share |
$0.01 |
$0.01 |
$0.02 |
Although JASIC has achieved better-than-expected results in the first quarter of 2021, its exposure to the major risks in the current global economy cannot be overlooked.
Current major risks are as follows:
a. Negative impact of COVID-19 pandemic on overseas sales
b. Volatile commodity prices have impacted the purchase price and lead time of raw material, leading to product manufacture and delivery difficulties.
c. Exchange gains and financial investment gains have been affected by fluctuating exchange rates and interest rates.
Confronting these challenges, JASIC has taken proper measures to mitigate risks and maintain steady progress in achieving its strategic business objectives.