JASIC 2020 Financial Report

    JASIC published its 2020 financial report on March 20th, 2021. Facing unprecedented uncertainty posed by the COVID-19 pandemic, the company has remained steady in revenue growth with controllable loss in profit.

    2020 Performance

    JASIC showed a steady growth in the total operating revenue. It reported total operating revenue of USD 158.76 million of 2020, a 5.67% increase, as compared to USD 150.25 million in 2019.

    Total operating revenue

    However, some key indicators of the corporate financial performance were significantly affected by the tough economic environment. Operating income dipped to USD 29.93 million, a 21.72%% decrease compared to the previous year. Meanwhile total profits were USD 29.35 million, down 23.34% compared to 2019. Net profit attributable to shareholders was USD 25.29 million, dropping 21.73% from the previous year. Earnings per share were USD 0.05, a 20.93% decline year over year.

    Operating income
    Total profits
    Net profit attributable to shareholders
    Earnings per share

    Export Sales Performance: Exceeds Expectations

    The company represented the continued growth of operating revenue with relatively stable gross margin in export sales. Facing the economic risks including uncertain macro-economic environment, volatile commodity prices, exchange rate fluctuation and current issues in global shipping, JASIC managed to mitigate the negative effects with proper methods and received exceptional export sales result. The export operating revenue reached USD 72.51 million, a 7.51% year-on-year increase. Besides, JASIC successfully maintained fairly stable gross margin despite of the volatility in raw material prices. The gross margin was 38.14%, down 0.46% compared to last year.
    All of these cannot be achieved without the well-coordinated strategy, and its agile execution based on in-depth and timely analysis of different territories.

    Operating revenue
    Gross margin

    With obstacles affecting JASIC’s financial performance, the company has still remained stable in the operation with exceptional export sales performance. And as the economic uncertainty continues, JASIC has adopted appropriate strategies to control its downsides and quickly adapted to the economic changes. Besides, the company has made some adjustments to provide better services to customers. It will ensure the stable growth of its welding machine business while boosting the sales of welding consumables and accessories.