Click here to close now.


Microsoft Cloud Authors: Jordan Sanders, Carmen Gonzalez, Pat Romanski, Keith Mayer, Jayaram Krishnaswamy

News Feed Item

Yosen Group, Inc. Reports Second Quarter 2014 Results

YIWU, China, Aug. 15, 2014 /PRNewswire/ -- Yosen Group, Inc. (stock symbol: YOSN) ("Yosen", or "the Company") announced today its financial results for the second quarter ended June 30, 2014.

Net sales, gross profit, gross profit margin and selling, general and administrative expenses ("SG&A") shown for the periods presented all exclude discontinued operations.

Net sales for the second quarter 2014 were reported at $3,053,135, a 7.7% year-over-year increase over $2,834,839 for the second quarter 2013. Net sales for the six months ended June 30, 2014 were $7,316,160, a 22.0% year-over-year increase over $5,997,873 for the six months ended June 30, 2013. The increase was primarily attributable to the new revenue generated from our international trade business in New York.

Gross profit for the three months ended June 30, 2014 was $291,064, an increase of 69.6% compared to $171,641 for the three months ended June 30, 2013. Gross profit for the six months ended June 30, 2014 was $620,322, an increase of 99.4% compared to $311,108 for the six months ended June 30, 2013.

Profit margin for the three and six months ended June 30, 2014 was 9.5% and 8.5% compared to 6.1% and 5.2% for the three months and six months ended June 30, 2013. The international trade business again contributed to the higher profit margin.

SG&A expenses for the three months ended June 30, 2014 were $288,149, a decrease of 47.3% compared to $546,646 for the three months ended June 30, 2013. SG&A expenses for the six months ended June 30, 2014 were $576,361, a decrease of 53.0% compared to $1,227,541 for the six months ended June 30, 2013. The decrease in SG&A expenses was the result of reduction in staff related cost and store management fees.

Net income from continuing operations was $64,826 and $178,601 respectively for the three and six months ended June 30, 2014 compared to net loss of $357,219 and $885,047 for the three and six months ended June 30, 2013.

Net income excluding non-cash stock-based compensation expense (a non-GAAP measure) for the three and six months ended June 30, 2014 was $94,968 and $218,078, compared to net loss of $310,886 and $847,030 for the three and six months ended June 30, 2013.

Net income for the three and six months ended June 30, 2014 was $7,468 and $31,626 compared to net loss $414,219 and $1,053,696 for the three and six months ended June 30, 2013.

Yosen's CEO Mr. Zhenggang Wang commented, "We are very pleased that Yosen continues to be profitable during the second quarter. This time of the year is usually a slow season for 3C products (Computers, Communication, Consumer Electronics), and neither Apple nor Samsung introduced any heavyweight new products at this time. However, thanks to Yosen's strategic repositioning over the last few years and strict cost control measures, the Company was able to maintain its profitability. We anticipate the Company to continue to grow significantly in both sales and profitability, and receive increased subsidies from China Telecom as a result of our proven cooperative model.

"Yosen's U.S. subsidiary, Yosen Trading, has been growing very nicely despite that it is still young. We plan to open our second warehousing facility in New York in the near future. The cross-border e-commerce platform that Yosen has been developing jointly with China Commodity City has already attracted many potential customers and prospective cooperation partners from Zhejiang and Fujian provinces as well as from the U.S. We anticipate this e-commerce platform co-developed with, as well as Yosen's own B2B and B2C cross-border trading platforms, will go live online later this year. We believe these vehicles will become Yosen's major source of profitability in the future."

Earlier this year, Yosen announced that it signed an agreement with a subsidiary of China Commodity City Group Ltd. to cooperate exclusively in cross border trade, e-commerce, warehousing and logistics in four major states in the U.S. (New York, New Jersey, Connecticut, and Pennsylvania). Yosen launched its international trade and wholesale business at the end of last year through its U.S. subsidiary, and has made clear breakthrough within a short period of time. The Company anticipates further progress in the field and will update shareholders accordingly.

About Yosen Group, Inc.

Yosen Group, Inc. ("Yosen Group", or "Yosen") was founded in Yiwu City, Zhejiang Province, in 1997. Yosen is a leading retailer of 3C merchandise (Computers, Communication products and Consumer electronics) in Eastern China. The Company partners with China's three dominant telecommunication operators including China Telecom, China Mobile, and China Unicom, and operates 3C specialty stores within mass merchandisers at prime locations. Yosen distributes the best-selling products of Apple, Samsung, among others. Yosen Group, though its corporate headquarters in China and its wholly-owned U.S. subsidiary, is committed to building cross-border sales channels for bringing the world's best consumer products to China and, simultaneously, introducing China's most competitive products to the overseas markets. Yosen Group is China Commodity City Group's exclusive partner in the Greater New York area. The Company operates under the "Yosen" and "Yong Xin" brand names.

For more information, visit

Safe Harbor Statement

Certain statements in this press release, constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the Company's future performance. The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the periodic reports that are filed with the Securities and Exchange Commission. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

For more information, please contact:

Xiaochun Yang
Tel: +86-571-2888-8036
Email: [email protected] 

SOURCE Yosen Group, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application delivery by allowing increasingly popular Mobile Backend-as-a-Service (mBaaS) platforms to quickly crea...
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true change and transformation possible.
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York and Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound cha...
Internet of @ThingsExpo, taking place June 7-9, 2016 at Javits Center, New York City and Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 18th International @CloudExpo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical to maintaining positive ROI. Raxak Protect is an automated security compliance SaaS platform and ma...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context with p...
There are over 120 breakout sessions in all, with Keynotes, General Sessions, and Power Panels adding to three days of incredibly rich presentations and content. Join @ThingsExpo conference chair Roger Strukhoff (@IoT2040), June 7-9, 2016 in New York City, for three days of intense 'Internet of Things' discussion and focus, including Big Data's indespensable role in IoT, Smart Grids and Industrial Internet of Things, Wearables and Consumer IoT, as well as (new) IoT's use in Vertical Markets.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningful and actionable insights. In his session at @ThingsExpo, Paul Turner, Chief Marketing Officer at...
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, demonstrated examples of com...
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessions, I wanted to share some of my observations on emerging trends. As cyber security serves as a fou...
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion is moderated by me, Dana Gardner, Principal Analyst at Interarbor Solutions.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.