Revenue Growth - Revenue increased by 47.8% year-over-year, driven by strong demand in North America and China, despite supply chain challenges [14]. - Total revenue for the reporting period was $2,239.4 million, an increase of 47.8% year-over-year [24]. - North America recorded total revenue of approximately $1,261.0 million, a strong year-over-year growth of 74.0% from $724.8 million in 2020 [31]. - China reported total revenue of approximately $626.9 million, a slight increase of 2.3% from $612.9 million in 2020, primarily due to new product launches [31]. - Europe achieved total revenue of approximately $279.9 million, a significant year-over-year growth of 94.6% from $143.8 million in 2020 [31]. - Other markets generated total revenue of approximately $71.6 million, reflecting a remarkable growth of 115.7% from $33.2 million in 2020 [31]. Profitability - Adjusted net profit grew by 80.1% year-over-year, reflecting effective cost management and inventory control [14]. - Net profit for the period increased by 104.0% to approximately $217.7 million, with profit attributable to shareholders rising by 136.4% to about $193.4 million [24]. - The adjusted net profit for the six months ended June 30, 2021, was $241.8 million, a 79.9% increase from $134.3 million in 2020 [52]. - EBITDA for the same period was $336.2 million, up 34.4% from $250.2 million in 2020 [54]. - The group reported a total comprehensive income of $227,383 thousand for the period, compared to $95,838 thousand in 2020, representing an increase of approximately 137.5% [109]. Market Share and Product Innovation - Market share in the U.S. for cleaning appliances rose from 27.2% to 30.8%, and for cooking appliances from 18.3% to 26.3% [15]. - The company launched innovative products such as the Shark vacuum mop and Shark smart vacuum mop, contributing to revenue growth [15]. - The company maintains a leading position in the global small appliance market with trusted brands like Shark, Ninja, and Joyoung [13]. - The company is committed to increasing market share in the world's largest small appliance markets, particularly in China and the U.S. [13]. - The company launched several new products in 2021, including Ninja CREAMi and Ninja Cold Press Juicer Pro, contributing to revenue growth [16]. Cost Management and Expenses - Total cost of sales was approximately $1,331.0 million, an increase of 56.1% from $852.9 million in 2020, driven by higher sales volume and other factors [34]. - Total sales and distribution expenses increased by approximately 55.1% to about $378.3 million, driven by sales growth and the launch of new product categories [43]. - Administrative expenses rose by approximately 20.8% to about $266.2 million, reflecting significant investment in employee resources for new product development and international expansion [45]. - Financing costs decreased by approximately 76.8% to about $13.7 million, mainly due to refinancing of credit facilities that reduced future interest expenses [48]. Strategic Initiatives - The company emphasizes three core competencies: revolutionary product innovation, diverse brand marketing, and a global omnichannel sales network [13]. - The company continues to invest heavily in marketing and advertising, utilizing digital ads and influencer marketing to enhance consumer engagement [16]. - The company has adopted an omnichannel distribution strategy, benefiting from strong relationships with retailers and gaining more product display opportunities [17]. - The company is actively exploring new product categories and channels in China, focusing on online and offline integration to meet diverse consumer needs [19]. Financial Position and Assets - Gross profit was $908.4 million, up 37.3% year-over-year, with a gross margin of 40.6%, down from 43.7% the previous year [24]. - Total assets less current liabilities amounted to $2,891,112 thousand as of June 30, 2021, down from $3,036,249 thousand at the end of 2020 [112]. - Cash and cash equivalents as of June 30, 2021, were $609,433 thousand, compared to $570,810 thousand at the end of 2020, showing an increase of about 6.8% [111]. - The total debt as of June 30, 2021, was approximately $902.6 million, a decrease of about 3.9% from $939.4 million on December 31, 2020 [57]. Employee and Governance - The company has a total of approximately 5,198 employees as of June 30, 2021, compared to 4,926 employees as of December 31, 2020, representing an increase of about 5.5% [101]. - Employee costs for the reporting period amounted to $187.7 million, up from $157.3 million in 2020, indicating a year-over-year increase of approximately 19.3% [101]. - The company has adopted the standard code of conduct applicable to all directors and relevant employees [82]. - The company has complied with all applicable codes of the corporate governance code during the reporting period, with the exception of the separation of roles between the Chairman and CEO [81]. Risks and Challenges - The ongoing global health crisis has created uncertainty, but the company is adapting to new consumer habits and market conditions [14]. - The company anticipates that rising shipping costs and shortages of containers will continue to impact gross margins in the second half of 2021 [70]. - The company plans to monitor exchange rate fluctuations closely to manage foreign exchange risks [62]. - The company is committed to transferring production outside of China to mitigate risks associated with the ongoing US-China trade tensions [71].

Financial Performance - In 2020, JS Global Lifestyle Company achieved total revenue of approximately $4.196 billion, representing a year-on-year growth of about 39.1%[9]. - The SharkNinja segment generated revenue of approximately $2.733 billion, with a year-on-year increase of about 57.4%, driven by strong sales across all categories[10]. - The Joyoung segment reported revenue of approximately $1.463 billion, reflecting a year-on-year growth of about 14.3%[10]. - The group's gross profit for the year ended December 31, 2020, was approximately $1.743 billion, representing a year-on-year growth of 54.7%, with a gross margin of 41.5%[11]. - Adjusted net profit rose by 79.2% year-on-year to approximately $419.2 million for the year ended December 31, 2020[11]. - Total revenue for the year ended December 31, 2020, was $4,195.8 million, an increase of 39.1% year-over-year[26]. - Gross profit reached $1,742.8 million, up 54.7% year-over-year, with a gross margin of 41.5%, an increase of 4.1 percentage points from 37.4% in 2019[26]. - EBITDA for 2020 reached approximately $701.0 million, a substantial rise from $290.0 million in 2019[56]. - The company's net profit for the year ended December 31, 2020, increased by approximately 372.2% to about $402.3 million, up from about $85.2 million in 2019[52]. Market Expansion - The company successfully expanded into the German and French markets in 2020, enhancing its product portfolio centered around lightweight cordless vacuum cleaners[10]. - Revenue from the European market grew by approximately 103.6% compared to 2019, with Shark brand holding a 36.9% market share in the UK vacuum cleaner category[12]. - The company plans to expand into new categories such as personal care and air purifiers, while continuing to develop new products in existing categories[12]. - The company successfully entered the German and French markets in 2020, focusing on international expansion and collaboration with major retailers[67]. - The company has expanded its business into the two largest small appliance markets globally, namely China and the United States[80]. Product Development and Innovation - The company has been focusing on user-centric and demand-driven strategies, launching innovative products to attract younger demographics[10]. - New product launches in 2020 included the self-cleaning PowerFin technology vacuum cleaners and various Ninja Foodi products, contributing to strong growth in the Ninja Foodi series[12]. - The company aims to maintain rapid growth trends in the industry through continuous R&D and innovation of existing and new product categories[14]. - The company plans to continue leveraging its strong sales performance to drive future growth and expansion strategies[54]. - The company is diversifying its supply chain by sourcing products from Vietnam and Thailand to mitigate the impact of increased tariffs on goods imported from China, potentially saving significant costs despite higher prices[69]. Corporate Governance and Leadership - The company has appointed several non-executive directors with extensive experience in investment and management, including Mr. Xu Zhijian and Mr. Stassi Anastas Anastassov, who have over 20 years of relevant experience[74][75]. - The company’s CEO, Mr. Wang Xuning, also serves as the Chairman, indicating a unified leadership structure[78]. - The board consists of nine directors, including three executive directors, three non-executive directors, and three independent non-executive directors[148]. - The independent non-executive directors account for more than one-third of the board, ensuring adequate professional expertise[150]. - The company emphasizes the importance of strategic planning and financial oversight through its audit and compensation committees[77]. Social Responsibility and Community Engagement - The company has committed to using 98% recyclable materials in product packaging, with a goal to eliminate all plastic packaging[13]. - The SharkNinja division donated market value of approximately RMB 5 million in emergency supplies during the COVID-19 pandemic[13]. - The company has established a "Zhejiang Jiuyang Public Welfare Foundation" focusing on education and health-related social issues[13]. - The company’s charitable donations for the year ended December 31, 2020, amounted to approximately $2.25 million[86]. Financial Management and Risk - The company is exposed to various financial risks, including interest rate risk and performance risk related to financial covenants in financing agreements[141]. - The company has established a robust internal control and risk management system to ensure compliance with applicable laws and regulations[145]. - The company recorded substantial goodwill and intangible assets following the acquisition of SharkNinja, which may affect net profit if impairment losses are recognized[141]. - The company has implemented comprehensive risk management policies across various operational aspects, including quality control and financial reporting[171]. Employee and Talent Management - The employee cost for the year ended December 31, 2020, was $356.0 million, an increase from $293.9 million in 2019[129]. - The company has approximately 4,926 employees as of December 31, 2020, compared to 4,434 employees as of December 31, 2019[129]. - The company aims to attract and retain talent through its restricted share unit plan, which was revised on December 14, 2020[130]. Shareholder Engagement and Financial Disclosures - The company emphasizes the importance of effective communication with shareholders to enhance understanding of business performance and strategy[184]. - The company encourages shareholders to attend annual general meetings to express opinions and ask questions[184]. - The company’s financial statements were prepared in accordance with International Financial Reporting Standards[185]. - The company’s financial disclosures include significant accounting judgments and estimates related to revenue recognition[193].

Financial Performance - In 2019, the company achieved total revenue of $3.016 billion, representing a year-on-year growth of 12.5%[12] - The SharkNinja segment generated revenue of $1.736 billion, up 17.5% year-on-year, driven by strong sales in North America and rapid growth in Europe[13] - The Joyoung segment reported revenue of $1.28 billion, an increase of 8.6% year-on-year, supported by innovative products targeting younger consumers[13] - The group's gross profit for the year ended December 31, 2019, was approximately $1.127 billion, representing a year-on-year growth of 12.8%, with a gross margin of 37.4%[14] - Adjusted profit attributable to shareholders increased by 127.8% year-on-year to approximately $136.2 million for the year ended December 31, 2019[14] - The total revenue for the year ended December 31, 2019, was $3,016.1 million, representing a year-on-year increase of 12.5%[26] - Gross profit for the same period was $1,126.5 million, with a gross margin of 37.4%, slightly up from 37.3% in 2018[26] - Adjusted EBITDA for the year ended December 31, 2019, was $367.4 million, an increase from $312.1 million in 2018, representing a growth of approximately 17.7%[56] - Net profit decreased by approximately 24.0% from $112.1 million in 2018 to $85.2 million in 2019[53] Market Expansion and Product Development - The company continues to explore new retail marketing channels and leverage synergies between SharkNinja and Joyoung to drive growth[13] - The company plans to launch new products in 2020, including a floor cleaning product that integrates vacuuming and mopping technology, a new series of cookware, and a new series of cordless vacuum cleaners[15] - Revenue from the European market grew by approximately 67.8% in 2019 compared to 2018, indicating significant international market expansion[15] - The company is focusing on product innovation and diversification to capture market share and lead consumer upgrades[25] - The company is investing in new cordless vacuum cleaners and robotic vacuums set to launch in 2020, indicating a focus on innovation and market expansion[37] - The introduction of new products targeting younger consumers and leveraging online sales channels contributed to revenue growth in the Chinese market[34] Financial Position and Assets - Total assets reached $3.775 billion, with non-current assets at $1.999 billion and current assets at $1.775 billion[11] - The company's total equity amounted to $1.533 billion, with equity attributable to owners of the parent at $1.288 billion[11] - Cash and cash equivalents as of December 31, 2019, were approximately $421.3 million, up from $180.9 million in 2018, indicating a significant increase due to global offering proceeds[57] - Total borrowings as of December 31, 2019, were approximately $1,075.3 million, a decrease of about 9.3% from $1,185.3 million in 2018[57] - The debt-to-equity ratio as of December 31, 2019, was 74.2%, a decrease of 195.5 percentage points from 269.7% in 2018, primarily due to the completion of the global offering and the termination of put options[61] Corporate Governance and Structure - The company has a robust governance structure with various committees, including the remuneration and audit committees[77] - The board consists of eight members, including three executive directors and three independent non-executive directors, bringing diverse business experience and expertise[135] - The company has complied with corporate governance codes, ensuring high standards of ethics, transparency, and accountability[132] - The independent non-executive directors confirmed that the related party transactions were conducted in the ordinary course of business and on normal commercial terms[123] Social Responsibility and Community Engagement - The company has established a charitable foundation to focus on kitchen-related public welfare, emphasizing youth development and public health initiatives[16] - The company has a strong commitment to social responsibility, contributing approximately 5 million RMB in emergency supplies during the COVID-19 pandemic[16] - The company made charitable donations of approximately $1.52 million during the fiscal year ending December 31, 2019[86] Risks and Challenges - The company anticipates a negative impact on its 2020 operating performance due to COVID-19, particularly in the first quarter, with sales in China expected to be below forecasts[65] - The company faces significant risks including intense global market competition and rapid technological advancements[127] - The company faces risks and uncertainties related to the COVID-19 outbreak, which could impact its business operations[128] Strategic Initiatives - The company aims to enhance its brand awareness and consumer engagement while seeking strategic partnerships and acquisitions to drive long-term growth[66] - The company is focusing on international expansion, particularly in the UK, Japan, Germany, and France, by building local sales teams and collaborating with major retailers[66] - The company is exploring new retail models and digital transformation opportunities to adapt to changing consumer habits and preferences[67] Shareholder Information - The company declared a special dividend of HKD 0.5717 per share, equivalent to approximately 7.34 US cents[26] - The board will consider various factors, including financial performance and capital expenditure requirements, when determining dividend payments[81] - The company holds a total of 1,603,578,331 shares, representing approximately 47.06% of the equity[97]