American customers paid short orders, and Juyang’s revenue increased year-on-year in February (provided by Zhou Liping, chairman of Juyang, and Juyang)

[Reporter Huang Haochen/Taipei Report] Under the pressure of urgent and short-term orders, Juyang (1477), a garment foundry, announced that its revenue in February was 2.653 billion yuan, an increase of about 11.15% month-on-month and 3.8% year-on-year. 5.041 billion yuan, an annual decrease of 6.9%. Juyang said that in February, it was injected by the factor of additional short orders from American customers. However, it seems that the inventory situation in the US market is still serious. It is expected that the prosperity will be clearer in the second quarter of this year.

Juyang said that the revenue in February was better than that of the same period last year, mainly due to the additional short orders from American customers. Short orders happen to be the orders that Juyang is good at accepting. It is expected to be processed until the second quarter; orders from Japanese customers are better than expected, and due to the unblocking of the epidemic, sales are in good condition. In addition, Japanese customers are gradually reducing their dependence on China's supply chain, and orders are mainly based on long-term planning.

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Looking forward, Juyang emphasized that the market situation is still too uncertain, and the main focus is on the destocking situation in the United States. However, the annual production capacity is expected to maintain single-digit growth this year. If the speed of destocking in the United States advances, there is a chance to grow to double digits step forward.

In terms of production expansion, Juyang completed 20 production lines in the first phase of the Indonesian plant last year, and the remaining 60 lines will be completed and deployed this year depending on the status of orders received. The Bangladesh plant is also expected to start production in 2024.

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