JS Global Lifestyle Company (1691) H1 2026 earnings summary

Executive summary

• Revenue for H1 2026 was US$741.2 million, down 4.3%–5.3% year-over-year, with gross profit of US$229.3 million and gross margin of 30.9%.

• Net profit reached US$13.0 million, reversing a US$53.7 million loss in H1 2025; adjusted net profit rose 9.6% to US$14.8 million.

• Profitability improved despite weaker demand in China, business transformation in South Korea, and intensified competition.

• Adjusted EBITDA was US$19.6 million, down 13.3% year-over-year; EBITDA was US$17.8 million, compared to a US$44.6 million loss last year.

• No interim dividend was declared to preserve resources for strategic investments.

Financial highlights

• Gross margin decreased to 30.9% from 32.1% year-over-year; gross profit from third-party revenue was US$229 million.

• Joyoung segment revenue dropped 4.7% to US$466.9 million; SharkNinja APAC grew 6.2% to US$244.4 million.

• Cooking appliances led with 44.7% of sales, up 13.3% year-over-year; food prep and cleaning appliances declined.

• Administrative expenses fell 37.8% to US$83.0 million, mainly due to lower stock-based compensation.

• Finance costs increased 66.7% to US$2.5 million due to higher interest on bank loans.

Outlook and guidance

• Focus remains on product innovation, channel optimization, and operational efficiency.

• Continued expansion in APAC, especially Australia, New Zealand, Japan, South Korea, India, and Southeast Asia.

• Management expects improved profitability and sustainable growth in H2 2026.

• No interim dividend was declared to support strategic investments and long-term development.