JS Global Lifestyle Company (1691) H1 2026 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2026 was US$741.2 million, down 4.3% year-over-year, with gross profit of US$229.3 million and a gross margin of 30.9%.

• Net profit reached US$13.0 million, a turnaround from a net loss of US$53.7 million in the prior period; profit attributable to owners was US$9.4 million; adjusted net profit rose 9.6% to US$14.8 million.

• 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 and long-term development.

Segment performance

• Joyoung segment revenue from third-party customers was US$466.9 million, down 4.7% year-over-year, mainly due to weaker sales in blenders, rice cookers, and boilers, partially offset by growth in soymilk makers and cookware.

• SharkNinja APAC segment revenue from third-party customers grew 6.2% to US$244.4 million, led by strong performance in Australia/New Zealand (ANZ) and new market entries, but offset by a 69.4% revenue drop in Korea due to a business model transition.

• ANZ revenue rose 33.5% to US$128.6 million, driven by air fryers, coffee machines, and cordless vacuums; Japan revenue declined 4.2% to US$63.1 million, mainly due to currency depreciation; other APAC markets surged 165.5% to US$44.6 million, with India contributing US$11.6 million after launching operations.

Financial highlights

• Gross profit margin declined by 1.2 percentage points to 30.9%; Joyoung segment margin fell to 26.2%, while SharkNinja APAC margin improved to 43.7% due to premium product launches and cost optimization.

• Selling and distribution expenses remained stable at US$164.3 million; administrative expenses dropped 37.8% to US$83.0 million, mainly from lower stock-based compensation.

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

• Cash and cash equivalents stood at US$437.5 million, with total borrowings of US$79.1 million and a gearing ratio of 14.8%.

• Inventory rose 12.7% to US$158.7 million; trade receivables fell 24.1% to US$339.7 million; trade payables decreased 11.9% to US$489.2 million.