Jerash Holdings (US), Inc. (NASDAQ:JRSH) Q3 2023 Earnings Call Transcript

Rommel Dionisio: Okay, and just as a follow-up, I think you’ve mentioned that it’s a difficult situation for some of your competitive factories in Jordan. Is that causing any sort of impact on your labor base? Are you able to source more domestic workers within Jordan, or how is that sort of affecting your everyday operations from a labor perspective? Thanks.

Gilbert Lee: Eric, do you want to take this question about sourcing local workers, maybe some opportunities?

Eric Tang: Yes, just now it is mentioned that some small factories already closing down and some of the big factories, because of the order situation, they also reduced the number of workers, so it will become more easy for Jerash to source especially the local workers who it is very easy to shift from one factory to another. For the foreign workers, of course if the factory is shutting down, they need to finish the contract and go back to their country, but they can–I mean, there is more chances, more opportunities for them to come to work in Jordan for Jerash.

Rommel Dionisio: Great, thank you very much.

Eric Tang: Yes, that’s the reason why we want to hold on as much as possible to our existing workers, because they are familiar with our operations and they are very experienced. It is a big cost if you want to go out and find new workers, whether it’s local workers or import workers.

Rommel Dionisio: Okay, thank you.

Sam Choi: Thank you.

Operator: We have reached the end of our question and answer session, and I will now turn the call over to Sam Choi for closing remarks.

Sam Choi: Thank you Operator. We are optimistic about Jerash’s prospects and the progress of our strategic initiatives. We look forward to speaking with you again soon and appreciate your continuing support. Thank you.

Operator: This concludes today’s conference and you may disconnect your lines at this time. Thank you for your participation.