JS Global Lifestyle (01691) reported a turnaround to a net profit of USD 13.00 million for the six months ended 30 June 2026, reversing a USD 53.74 million loss a year earlier.

Financial Highlights • Revenue fell 4.3% year on year to USD 741.19 million, as softer demand in Chinese Mainland offset growth in Asia-Pacific. • Gross profit declined 7.7% to USD 229.35 million; gross margin eased 1.2 percentage points to 30.9%. • Profit attributable to shareholders reached USD 9.42 million versus a USD 59.24 million loss in 2025. • EBITDA returned to positive USD 17.79 million (1H 2025: USD 44.62 million loss); adjusted EBITDA slipped 13.3% to USD 19.61 million. • Operating cash flow dropped to USD 10.23 million (1H 2025: USD 61.40 million); cash and cash equivalents stood at USD 437.49 million at period-end. • Gearing ratio edged up to 14.8% (FY 2025: 13.8%) on USD 79.12 million of interest-bearing debt.

Segment Performance • Joyoung: Revenue down 4.7% to USD 466.90 million, hurt by weaker blender, rice-cooker and boiler sales; segment gross margin fell to 26.2% from 29.5%. • SharkNinja APAC: Revenue up 6.2% to USD 244.38 million; excluding a Korean channel transition, growth would have been 31.5%. Gross margin improved to 43.7% (1H 2025: 42.2%).

Geographic Trends • Chinese Mainland sales dipped 5.4% to USD 457.37 million. • Australia & New Zealand rose 33.5% to USD 128.61 million, driven by air-fryers and coffee machines. • Japan slipped 4.2% to USD 63.11 million, mainly currency related; constant-FX growth was 2.6%. • Korea plunged 69.4% to USD 17.58 million following the shift to a direct-operated model. • Emerging markets revenue surged 165.5% to USD 44.57 million, bolstered by the April launch in India.

Product Mix • Cooking appliances became the largest category, up 13.3% to USD 317.66 million, accounting for 44.7% of group sales. • Food-preparation appliances fell 14.2% to USD 204.84 million. • Cleaning appliances declined 18.9% to USD 106.25 million amid intensified competition in Japan and Korea transition impacts.

Balance Sheet & Liquidity Cash reserves totaled USD 437.49 million; net debt stood at USD 79.12 million. Inventory increased 12.7% to USD 158.75 million, with turnover at 57 days (FY 2025: 52 days). Trade receivables dropped 24.1% to USD 339.70 million, improving liquidity.

Dividend The board did not declare an interim dividend, citing the need to preserve capital for product innovation and market expansion.

Strategic Priorities Management will prioritise: 1. Consumer-led product innovation, especially in health-focused and smart appliances. 2. Deeper penetration in core markets (ANZ, Japan, Korea) and disciplined expansion in emerging Asia, including India and Southeast Asia. 3. Continued cost optimisation and supply-chain efficiencies to support margin resilience.

Post-Balance-Sheet Event On 30 July 2026, the group renewed a product-development agreement with SharkNinja Europe Ltd., setting caps of USD 11.41 million for FY 2026 and USD 14.00 million for FY 2027. The arrangement is classified as a continuing connected transaction under Hong Kong listing rules.

No other material events were reported after the period end.