Jerash Holdings (US) Inc

NASDAQ:JRSHUnited States

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Six Months Ended September 30, ---------------------------- 2024 2023 -------------- ----------- CASH FLOWS FROM OPERATING ACTIVITIES Net (loss) income $ (702,148) $ 864,059 Adjustments to reconcile net (loss) income to net cash provided by operating activities: Depreciation and amortization 1,209,053 1,224,322 Stock-based compensation expenses 943,023 484,250 Credit Loss (recovery) 16,768 (66,980) Amortization of operating lease right-of-use assets 300,559 416,090 Changes in operating assets: Accounts receivable (392,484) (2,894,162) Bills receivable - 87,573 Inventories 7,034,774 13,942,970 Prepaid expenses and other current assets (470,777) 814,878 Advance to suppliers (2,942,296) (1,910,244) Changes in operating liabilities: Accounts payable (1,945,505) (1,530,458) Accrued expenses (520,948) (251,048) Other payables 133,937 (265,119) Deferred revenue 1,112,963 (696,006) Operating lease liabilities (238,237) (336,984) Income tax payable (1,112,062) (1,704,261) ---------- ---------- Net cash provided by operating activities 2,426,620 8,178,880 ---------- ---------- CASH FLOWS FROM INVESTING ACTIVITIES Purchases of property, plant, and equipment (348,238) (635,878) Payments for construction of properties (270,599) (2,575,669) Payment for long-term deposits (317,386) (247,610) ---------- ---------- Net cash used in investing activities (936,223) (3,459,157) ---------- ---------- CASH FLOWS FROM FINANCING ACTIVITIES Dividend payments (1,229,484) (1,229,484) Investment of noncontrolling interest - 31,365 Repayment from short-term loan (5,566,040) (3,118,339) Proceeds from short-term loan 9,136,277 3,118,339 ---------- ---------- Net cash provided by (used in) financing activities 2,340,753 (1,198,119) ---------- ---------- EFFECT OF EXCHANGE RATE CHANGES ON CASH AND RESTRICTED CASH 16,018 (123,491) ---------- ---------- NET INCREASE IN CASH AND RESTRICTED CASH 3,847,168 3,398,113 CASH, AND RESTRICTED CASH, BEGINNING OF THE PERIOD 14,036,867 19,411,603 ---------- ---------- CASH, AND RESTRICTED CASH, END OF THE PERIOD $ 17,884,035 $22,809,716 ========== ========== CASH, AND RESTRICTED CASH, END OF THE PERIOD $ 17,884,035 $22,809,716 LESS: NON-CURRENT RESTRICTED CASH 1,545,457 1,608,074 ---------- ---------- CASH, END OF THE PERIOD $ 16,338,578 $21,201,642 ========== ========== Supplemental disclosure information: Cash paid for interest $ 983,352 $ 748,185 ========== ========== Income tax paid $ 1,329,150 $ 2,371,705 ========== ========== Non-cash investing and financing activities Equipment obtained by utilizing long-term deposit $ 262,017 $ 358,620 ========== ========== Operating lease right of use assets obtained in exchange for operating lease obligations $ 67,512 $ 177,068 ========== ==========

FAIRFIELD, NJ / ACCESSWIRE / November 8, 2024 / Jerash Holdings (US), Inc. (Nasdaq:JRSH) (the "Company" or "Jerash"), which manufactures and exports custom, ready-made, sportswear and outerwear for leading global brands, announced today that its board of directors approved the payment of a regular quarterly dividend of $0.05 per share on the Company's common stock. The dividend is payable on or about November 29, 2024 to the stockholders of record as of November 22, 2024.