PR88807

HONG KONG, April 1, 2021 /PRNewswire=KYODO JBN/ --

JS Global Lifestyle Company Limited ("JS Global" or "the Company"; Hong Kong:

1691), a leading producer of small household appliances, released its financial

results for 2020. Despite the adverse impact of the COVID-19 epidemic, the

Company booked strong performances in 2020, driven by the positive results from

its international expansion and new product launches.

In 2020, JS Global reported a total revenue of nearly $US4.2 billion, up 39.1%

year-on-year, and it recorded a gross profit of approximately $US1.74 billion,

up 54.7% year-on-year. The Company last year booked a gross profit margin of

41.5%, a substantial increase of 4.1 percentage points from 37.4% in 2019.

Meanwhile, the Company's net profit in 2020 expanded by 372.2% year-on-year to

approximately $US402.3 million, and its net profit attributable to owners of

the parent increased by about 718.1% year-on-year to about $US344.4 million.

The profit surge was primarily driven by the steady growth of revenue generated

in both domestic and overseas markets, as well as the Company's successful

launch of a series of new products last year.

Along with its subsidiaries, JS Global operates through two business segments.

Its SharkNinja segment focuses on the Shark and Ninja brands featuring home

environment appliances and kitchen appliances which are sold in North America,

Europe and Japan, among others. The Joyoung segment offers small household

appliances, focusing on kitchen and cleaning appliances, primarily in China.

Strong international expansion

In 2020, with respect to growth through its sales network, JS Global focused on

expanding internationally, boosting further growth in the U.K. and Japan. It

also successfully tapped into the German and French markets and started working

with major retailers in these countries to have the products placed through

local sales teams.

JS Global's revenue generated from sales in North America amounted to $US2.21

billion in 2020, an increase from about $US1.46 billion in 2019. The growth in

North America was mainly driven by the successful launch of a series of new

products, such as Ninja Foodi™ series of cooking appliances and Shark cleaning

appliances. The Company capitalized on the trend of changing shopping habits of

consumers during the pandemic and increased its investment in the e-commerce

channel which saw significant growth.

As consumers' buying preferences transitioned from offline to online channels,

the proportion of sales on retailers' online platforms and those dedicated

solely to the online channel increased. This reinforced JS Global's

omni-channel approach to distribution, ensuring that it was able to support

consumer demand, which remained strong due to increased usage of cooking and

cleaning products driven by the 'stay at home economy' born out of the pandemic.

In addition, the Company's Europe business last year booked a revenue of about

US$451.3 million, up from $US221.7 million in 2019. The strong revenue growth

in Europe was primarily driven by the continuously increasing market share of

cordless and corded vacuums in the U.K. The Company has successfully secured

additional product placements at key retailers in the U.K., and it has launched

the Ninja Foodi™ series of products in the European market, which also

contributed to the growth.

Business thriving in China

The revenue generated by the sales in China reached nearly $US1.44 billion in

2020, up from $US1.27 billion in 2019. The sales growth was mainly driven by

the launch of a series of popular new products in response to the demand of

consumers for health and cooking at home during the epidemic and the Company's

exploration of emerging sales and communication channels such as new retail and

online live streaming.

In 2020, the Joyoung segment, which mainly operates in China, achieved stable

revenue growth by leveraging the Company's strength in digital marketing, live

stream shopping as well as optimizing operation efficiency.

Going forward

JS Global is committed to driving sustainable long-term growth and

strengthening the market position as a global leader in small household

appliances through sales network and product expansion. The Company plans to

further drive synergies between its Joyoung segment and SharkNinja segment on

both the cost side and the sales side.

Additionally, JS Global plans to expand into new product categories, including

the personal care category and air purifiers. It will also continue to develop

the portfolio within existing categories including additional cookware

products, new products within the Ninja Foodi™ series and a new series of

cordless vacuums.

About JS Global

JS Global Lifestyle Company Limited (Hong Kong: 1691) is a world leading

producer of small household appliances. It ranks fifth globally in the small

household appliance industry and third among small household appliance-focused

companies. It primarily operates three major brands: Shark, Ninja and Joyoung.

The Company's success is centered around its deep understanding of consumer

needs, and is built on its strong product innovation and design capability

powered by a global research and development platform, marketing strengths

driving high brand engagement, and an omni-channel distribution coverage with

high penetration.

Source: JS Global Lifestyle Company Limited