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JS环球生活(01691) - 2024 - 中期业绩
01691JS GLOBAL LIFE(01691)2024-08-29 14:40

Financial Performance - Revenue from continuing operations for the six months ended June 30, 2024, was 743.0million,anincreaseof29.5743.0 million, an increase of 29.5% year-over-year[2]. - Gross profit from continuing operations for the same period was 245.8 million, reflecting a year-over-year increase of 15.2%[2]. - Profit from continuing operations decreased to 29.6million,adeclineof35.929.6 million, a decline of 35.9% compared to the previous year[2]. - EBITDA for the reporting period decreased by 43.0% to approximately 41.7 million[2]. - Adjusted EBITDA fell by 64.4% to approximately 28.1million[2].−Basicearningspersharefortheperiodwas28.1 million[2]. - Basic earnings per share for the period was 0.6 cents, down from 3.7centsinthepreviousyear[7].−Totalcomprehensiveincomefortheperiodwas3.7 cents in the previous year[7]. - Total comprehensive income for the period was 29.6 million, compared to 139.5millionintheprioryear[9].−TheoperatingprofitbeforetaxforthesixmonthsendedJune30,2024,was139.5 million in the prior year[9]. - The operating profit before tax for the six months ended June 30, 2024, was 36,784 thousand, compared to 53,306thousandforthesameperiodin2023,indicatingadecreaseof30.953,306 thousand for the same period in 2023, indicating a decrease of 30.9%[24]. - Total tax expenses for continuing operations amounted to 7,221 thousand, slightly up from 7,149thousandinthepreviousyear[31].−Netprofitfromcontinuingoperationsdecreasedbyapproximately35.97,149 thousand in the previous year[31]. - Net profit from continuing operations decreased by approximately 35.9% from about 46.2 million in the six months ended June 30, 2023, to approximately 29.6millioninthesameperiodof2024[90].−AdjustednetprofitforthesixmonthsendedJune30,2024,was29.6 million in the same period of 2024[90]. - Adjusted net profit for the six months ended June 30, 2024, was 29.6 million, a decrease from 46.2millioninthesameperiodof2023,representingadeclineof36.546.2 million in the same period of 2023, representing a decline of 36.5%[92]. Assets and Liabilities - Non-current assets as of June 30, 2024, totaled 423.5 million, an increase from 381.4millionasofDecember31,2023[13].−Currentassetsamountedto381.4 million as of December 31, 2023[13]. - Current assets amounted to 976.7 million, a decrease from 1,021.9millionattheendofthepreviousyear[13].−Currentliabilitiestotalled1,021.9 million at the end of the previous year[13]. - Current liabilities totalled 667,619, a decrease of 3.1% from 694,758[15].−Non−currentliabilitiesincreasedto694,758[15]. - Non-current liabilities increased to 15,003, up 44.8% from 10,368[16].−Totalequityreached10,368[16]. - Total equity reached 717,582, reflecting a growth of 2.0% compared to 698,165[17].−Netassetsamountedto698,165[17]. - Net assets amounted to 732,585, an increase of 3.9% from 708,533[15].−Thecompanyreportedadecreaseinaccountspayableandnotespayableto708,533[15]. - The company reported a decrease in accounts payable and notes payable to 485,029, down from 472,410[15].−Theleaseliabilitiesrosesignificantlyto472,410[15]. - The lease liabilities rose significantly to 9,514, compared to 3,177previously[16].−TotalaccountsreceivableandnotesreceivableasofJune30,2024,amountedto3,177 previously[16]. - Total accounts receivable and notes receivable as of June 30, 2024, amounted to 353,375,000, down from 395,804,000asofDecember31,2023[43].−TotalaccountspayableandnotespayableasofJune30,2024,increasedto395,804,000 as of December 31, 2023[43]. - Total accounts payable and notes payable as of June 30, 2024, increased to 485,029,000 from 472,410,000asofDecember31,2023[44].−Thecompany′sdebt−to−equityratioasofJune30,2024,was2.1472,410,000 as of December 31, 2023[44]. - The company's debt-to-equity ratio as of June 30, 2024, was 2.1%, an increase of 1.3 percentage points from 0.8% as of December 31, 2023, mainly due to an increase in lease liabilities during the reporting period[100]. Market Performance - Revenue from the China market was 478,423 thousand, slightly down from 482,308thousand,indicatingadecreaseof0.2482,308 thousand, indicating a decrease of 0.2%[27]. - SharkNinja's revenue in the Asia-Pacific region (excluding mainland China) reached 123.1 million in the first half of 2024, a 153.3% increase from 48.6millioninthesameperiodlastyear,drivenbystrongsalesofSharkvacuumcleanersandNinjakitchenappliances[51].−InJapan,Shark′scordlessuprightvacuumcleanercategorysawretailsalespointsgrowby37.448.6 million in the same period last year, driven by strong sales of Shark vacuum cleaners and Ninja kitchen appliances[51]. - In Japan, Shark's cordless upright vacuum cleaner category saw retail sales points grow by 37.4% year-on-year in the first half of 2024, while the overall category only grew by 8.5%, increasing Shark's value share to 16.9%, up 360 basis points from the previous year[52]. - The Joyoung division maintained its leadership in the Chinese small appliance industry, focusing on health and innovation, with successful products like the third-generation non-stick rice cooker and silent blender gaining traction in more households[48]. - Joyoung's new non-stick rice cooker features dual-core cooling systems and advanced heating technologies, achieving a national II-level non-stick standard and enhancing the cooking experience for various rice types[48]. - The new R5 Pro water purifier incorporates a comprehensive antibacterial system, ensuring safe drinking water and providing hot water in approximately six seconds, with a six-year long-lasting filter[49]. - The business in Australia and New Zealand achieved a net income growth of 333.0% year-on-year in the first half of 2024[54]. - Shark cordless vacuum cleaners experienced a growth rate of 650% in Australia, driven by the successful launch of Detect Pro and accelerated development of Stratos[54]. - The Ninja brand in Australia saw a 400% increase in the blender category and a 350% increase in the heating category[54]. Strategic Initiatives - The company focuses on three core competitive strengths: developing innovative products with design appeal, implementing diverse branding and marketing activities, and establishing a comprehensive sales network[46]. - The company aims to enhance global household quality of life through revolutionary innovation and design-driven smart home products[46]. - The company is accelerating its presence in the Asia-Pacific market while continuing to deepen its core business with trusted leading brands[46]. - Joyoung is actively expanding its retail channels, focusing on e-commerce platforms like Xiaohongshu and Douyin, and enhancing its digital marketing capabilities to improve brand recommendation value and attract new users[50]. - The company is strengthening its direct sales teams and self-operated stores to better connect with consumers and adapt to market trends, aiming for sustainable high-quality development[50]. - The company is committed to enhancing its product offerings and market presence through continuous technological innovation and strategic partnerships[47]. - The company aims to achieve sustainable growth through strategies such as developing innovative small appliance products and expanding sales networks and product categories[106]. - The company is actively seeking potential strategic partnerships and acquisitions to enhance its market presence[106]. - The company plans to evaluate and develop targeted market strategies for untapped regions in the Asia-Pacific, including the Philippines and Indonesia[110]. Operational Efficiency - Capital expenditures for the six months ended June 30, 2024, totaled 22,336 thousand, significantly higher than 2,370thousandinthesameperiodof2023[24].−Thecompanyreportedanetcashinflowof2,370 thousand in the same period of 2023[24]. - The company reported a net cash inflow of 16,491,000 from operating activities for the six months ended June 30, 2023[37]. - The company has no significant contingent liabilities as of June 30, 2024, indicating a stable financial position[105]. - The company has no borrowings as of June 30, 2024, reflecting a strong liquidity position[102]. - The company will continue to focus on the small home appliance sector, emphasizing user demand and product innovation[107]. - The company is providing procurement services to SharkNinja's non-Asia Pacific business, generating a revenue of 25.0millionforthesixmonthsendedJune30,2024[93].−Thecompanyisengagedinproductdevelopmentandtransitionalservices,generatingarevenueof25.0 million for the six months ended June 30, 2024[93]. - The company is engaged in product development and transitional services, generating a revenue of 2.5 million for the six months ended June 30, 2024[93]. Governance and Compliance - The company has established four board committees, including the Strategy Committee and Audit Committee, in compliance with corporate governance regulations[113]. - Maximilian Walter Conze was appointed as an independent non-executive director on May 22, 2024[119]. - The company has adhered to all applicable corporate governance codes during the reporting period, with a noted exception regarding the roles of the Chairman and CEO[116]. - The company did not conduct any significant investments during the reporting period[120]. - No major acquisitions or sales of subsidiaries, joint ventures, or associates were undertaken during the reporting period[120]. - The board does not recommend any interim dividend for the six months ending June 30, 2024, compared to HKD 0.0392 per share for the same period ending June 30, 2023[121].