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    JASIC Reports Third Quarter 2021 Financial Result

    JASIC announced its 2021 Q3 financial report on October, 26th. This quarter JASIC has reached a 0.21% YoY growth rate in total operating revenue and a 34.76% YoY growth rate in net profit attributable to shareholders. Global supply chain disruption and international shipping crisis are the major headwinds that have affected JASIC’s international business. However, JASIC’s lead in China’s professional welding machine market has offset the negative factors in the current international trade environment.

    Third Quarter 2021 Financial Performance

    JASIC total operating revenue was USD 49.30 million* in the third quarter of 2021, up 0.21% compared to 2020.


    Period
    2019-Q3
    2020-Q3
    2021-Q3
    Total operating revenue
    $33,847,992.78
    $49,196,325.62
    $49,297,742.63



    Operating income reached USD 10.65 million, a 23.56% year-on-year growth. Total profits amounted to USD 10.70 million, increasing 24.06% compared with the same period last year. Net profit attributable to shareholders was USD 9.59 million, rising 34.76% compared with last year. Earnings per share were USD 0.02, a 44.44% increase from 2020.


    Period
    2019-Q3
    2020-Q3
    2021-Q3
    Operating income
    $12,132,163.47
    $8,622,877.01
    $10,654,567.90
    Total profits
    $12,141,307.39
    $8,623,392.81
    $10,698,429.32
    Net profit attributable to shareholders
    $10,315,009.86
    $7,116,640.79
    $9,590,722.32

    Earnings per share

    $0.02
    $0.01
    $0.02



    The gross profit margin was 29.42%, a 1.63 % decline month on month and a 4.37% decline year on year. The net profit margin was 19.41%, a 1.15% month on month and a 4.37% year on year.


    This third quarter has been somewhat challenging for most manufacturing sectors worldwide. In the case of JASIC, the continuous price hike in global commodity, the international shipping crisis, and China’s recent power crunch affecting many of its suppliers have been weighting down JASIC’s 2021Q3 financial performance. The successful launch of the JET20 products in the domestic market is an indispensable hedge against the volatile international market. Despite the current difficulties, JASIC is confident in keeping its lead in the domestic market while boldly seizing new opportunities in the international market with new strategies.


    *CNY to USD exchange rate used is 6.4134