Chilisin Group Reports 1st Quarter of 2020
2020-04-21Chilisin Group reports 2020 Q1 financial results with consolidated revenue of US$120.10 million, 25.19% Gross Margin Rate and EPS after tax of 0.0342 USD.
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Chilisin’s Board of Directors has approved 2020 Q1 financial results. The total consolidated revenue was US$120.10 million, down 2.07% YoY. The gross margin was US$30.25 million, down 15.34% YoY. The gross margin rate was 25.19%, down 3.95% YoY. The earning after tax was US$8.72 million, down 19.22% YoY. EPS after tax was US$0.0342. For 2020 Q1, due the continuing impacts of the COVID-19 pandemic, the global supply chain and market demands have been affected and changed. The Chilisin group has been utilizing its global factories to adjust output on various gloabl locations, in react to the ever-changing pandemic situation and to satisfy customer needs. The delayed demands from the Greater China Area customers have picked up on March, as a result, the group’s 2020 Q1 consolidated revenue was only slightly down 2.07% YoY. Looking ahead to 2020 Q2, the market demand has increased rapidly for stay home economy, remote learning and working, cloud computing and high-speed data streaming. Hence, will result in strong shipping demands from NB, servers and networking product customers. Looking forward, the results of the Chilisin group’s solid execution of operations and forward planning strategies are still worth expecting; as the new markets for 5G, IOT and Wifi6 will continue to develop and grow in the near future.
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