Chilisin Group Consolidation Revenue- January.2020
2020-02-06Chilisin Group reports January 2020 consolidated revenue of US$41.826 million, recording revenue down 6.97% MoM and down 12.00% YoY, with accumulated 2020 revenue of US$41.826 million, down 12.00% YoY.
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Chilisin Group reports January 2020 consolidated revenue of US$41.826 million, recording revenue down 6.97% MoM and down 12.00% YoY, with accumulated 2020 revenue of US$41.826 million, down 12.00% YoY. Chilisin’s individual revenue of January 2020 was US$16.064 million, down 9.38% MoM and up 0.94% YoY. MagLayer’s individual revenue of January 2020 was US$7.038 million, down 17.07% MoM and down 20.49% YoY. Magic’s individual revenue of January 2020 was US$4.010 million, down 12.74% MoM and down 6.86% YoY. The above-three mentioned inductor companies’ revenues of January dropped 12.00% MoM and 0.68% YOY. The decline was mainly because of the reduced shipping workdays during the extended Lunar New Year holidays due to the impacts of the Coronavirus in the Greater China Area. The delayed shipping from January will be shipped in February instead. To contain and prevent the wild spreading of the Coronavirus, the local governments in China have extended the CNY holidays. In reaction, we continue to maintain partial production level with the skeleton crew that stayed during the holidays, also with a factory in Vietnam which is part of the group’s risk diversify strategy that we have utilized its capacity to increase output and inventory level in order to satisfy the demand of the customers in China once their productions have resumed. Ralec’s individual revenue of January was US$9.108 million, the revenue was down 12.61% MoM and down 20.47% YoY. The decline was also due to the impacts of the Coronavirus and the extended CNY holidays. The order booking momentum continues, with the current shortage of resistor supplies and the impacts from extended holidays, we expect the demand will continue to increase. What separates Ralec from other competitors is that 75% of its capacity is located in Malaysia to diversify production risk. We are actively and gradually increasing the production output in Malaysia and have taken all steps in virus/disease prevention for our factories in the Greater China Area to ensure the factories resume their maximum production output after the extended holidays to satisfy our customer needs. Ferroxcube’s individual revenue of January was US$5.607 million, up 50.29% MoM but down 19.97% YoY. The order booking in the past two months has increased by 29% YoY. With the advantage of a having a production base in Poland, we continue to utilize the capacity and production output in Poland to reduce the impact to our customers due to the extended CNY holidays in China. Ferroxcube is actively reducing its production cost, strengthen competitiveness and broaden customer base. We expect to see our revenue gradually increase. In regard to the Coronavirus epidemic in the Greater China Area, employee health is our first priority and we continue to follow policies and procedures issued by the local governments. We have taken steps and actions on virus/disease prevention, including self-quarantine SOP for returning employees for each of our factories in China. We hope to resume our production with maximum capacity shortly to satisfy customer demands.
*Each monthly figures are based on exchange rate of the reporting month, for reference purpose only.
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