Chilisin Consolidation Revenue- February.2020

2020-03-05

Chilisin Group reports February 2020 consolidated revenue of US$31.956 million, recording revenue down 23.Chilisin Group reports February 2020 consolidated revenue of US$31.956 million, recording revenue down 23.41% MoM and down 3.54% YoY, with accumulated 2020 revenue of US$73.682 million, down 8.52% YoY.

 

 

Chilisin Group reports February 2020 consolidated revenue of US$31.956 million, recording revenue down 23.41% MoM and down 3.54% YoY, with accumulated 2020 revenue of US$73.682 million, down 8.52% YoY.

Chilisin’s individual revenue of February 2020 was US$12.503 million, down 21.98% MoM but up 13.46% YoY.

MagLayers’ individual revenue of February 2020 was US$5.326 million, down 24.15% MoM and down 4.01% YoY.

Magic’s individual revenue of February 2020 was US$1.685 million, down 57.88% MoM and down 38.55% YoY.

The above-three mentioned inductor companies’ accumulated revenues of January and February dropped 3.7% YOY. The decline was mainly because of the reduced shipping workdays and the order pulling delays as majority of the customers have not yet or only partially resumed their productions due to the impact of the Coronavirus epidemic, especially from the customers that are located in the severe affected areas in China. As the Chinese government has been gradually issuing permits to resume production, the utilization rate of our production bases in the Greater China Area has been rising. Under the premise of taking care of our employee’s health and thorough preparation for virus prevention, we continue to maximize our production output, in order to satisfy the delayed and accumulated demands from the customers once they have resumed their productions.

Ralec’s accumulated revenue of January and February was down 16% YoY. The decline was also due to the impacts of the Coronavirus epidemic that our order pulling numbers have reduced and delayed. The resistor supply continues to be tight since last year due to high demand; Ralec’s Malaysia factory has the advantage of risk diversification compare to other competitors in the Greater China Area that are only able to slowly increase their production output. The order placing momentum for Ralec in February was still strong, but our inventory is still low. In reaction to the supply/demand situation in the resistor market, we have announced resistor price increase to the EMS and distributor customers in the Greater China Area.

Ferroxcube is also under the impacts of the Coronavirus epidemic, the order pulling momentum weakened as the customers’ production resuming status in the Greater China Area was slower than expected. However, the demands from our long engaged European and U.S. customers have been steady. With the advantage of the Poland factory being located outside of the Greater China Area with sufficient supply, the European customers have also transferred their orders to our Ferroxcube in Poland from their Chinese suppliers. To be better prepared for the upcoming changes of the market dynamics, Ferroxcube continues to improve equipment efficiency and lower production cost internally, keep working closely with loyal customers and broaden customer base externally, to further increase revenue and continue growth.


 

Company Spokesman
Karen Yang
Manager
Phone : 886-3-5992646 Ext #236
Email: ir@chilisin.com

 

Company Deputy Spokesman
Kenny Chen
Manager
Phone: 886-3-5992646 Ext#293
Email: ir@chilisin.com