Financial Performance - Revenue from continuing operations for the six months ended June 30, 2023, was $573.6 million, a decrease of 18.5% year-over-year[2]. - Gross profit from continuing operations was $213.4 million, down 14.7% compared to the previous year[2]. - Profit from continuing operations was $46.2 million, reflecting a 30.2% decrease year-over-year[2]. - EBITDA from continuing operations decreased by 19.9% to approximately $73.1 million[2]. - Adjusted EBITDA from continuing operations was approximately $78.9 million, a decrease of 18.7% year-over-year[2]. - Total profit from both continuing and discontinued operations was $139.5 million, down 22.9% year-over-year[2]. - The adjusted profit attributable to equity holders of the parent from continuing operations decreased by 24.7% to approximately $40.5 million[2]. - The group reported a net profit for the six months ended June 30, 2023, of $139.5 million, compared to $180.9 million in 2022, reflecting a decline of about 23%[92]. - Adjusted net profit for the six months ended June 30, 2023, was approximately $52.0 million, down from $72.0 million for the same period in 2022[89]. Revenue Breakdown - Total revenue for the six months ended June 30, 2023, was $573,618 thousand, a decrease of 18.4% compared to $703,435 thousand for the same period in 2022[21]. - Sales to external customers for 九陽 were $490,866 thousand, down from $639,005 thousand in the previous year, representing a decline of 23.1%[21]. - Sales to external customers for SharkNinja 亚太 were $48,608 thousand, compared to $28,086 thousand in the prior year, showing an increase of 73.2%[21]. - The Joyoung segment generated revenue of $490.9 million, a decline of approximately 23.2% year-over-year, accounting for about 85.6% of total revenue[58]. - SharkNinja Asia Pacific segment revenue from external customers was $48.6 million, an increase of approximately 73.0% year-over-year, representing about 8.5% of total revenue[58]. - Revenue from the China region was approximately $482.3 million, a decrease of 22.6% year-over-year due to weak overall demand and intense competition[63]. Assets and Liabilities - Non-current assets as of June 30, 2023, totaled $309.2 million, significantly down from $2,053.7 million as of December 31, 2022[9]. - Cash and cash equivalents were $244.7 million, down from $504.1 million at the end of 2022[9]. - As of June 30, 2023, total current liabilities amounted to $2,457,295 thousand, an increase of 54% compared to $1,595,028 thousand as of December 31, 2022[10]. - Current assets net value reached $1,826,376 thousand, up from $987,101 thousand, indicating a significant growth[10]. - Total non-current liabilities decreased to $10,122 thousand from $976,138 thousand, reflecting a substantial reduction[10]. - The total equity as of June 30, 2023, was $2,125,470 thousand, compared to $2,064,649 thousand at the end of 2022, showing a slight increase[12]. Expenses and Costs - Sales and distribution expenses from continuing operations decreased by approximately 10.5% year-on-year to about $106.5 million for the six months ended June 30, 2023, compared to $119.0 million for the same period in 2022[79]. - Administrative expenses from continuing operations decreased by approximately 5.3% year-on-year to about $63.5 million for the six months ended June 30, 2023, compared to $67.0 million for the same period in 2022[81]. - Financing costs from continuing operations increased by approximately 121.8% year-on-year to about $14.1 million for the six months ended June 30, 2023, compared to $6.4 million for the same period in 2022, primarily due to an increase in average interest rates[85]. - Employee costs amounted to $221.0 million in the reporting period, up from $200.2 million in 2022[112]. Market and Strategic Focus - SharkNinja operates two reportable segments: Joyoung, focusing on kitchen appliances, and SharkNinja Asia Pacific, which offers a range of floor care products and kitchen appliances[18]. - The company focuses on three core competencies: developing innovative products with design appeal, implementing diverse brand marketing, and establishing a global omnichannel sales network[45]. - The company is focusing on digital marketing strategies, particularly targeting Gen Z consumers through platforms like Douyin and Xiaohongshu, to enhance retail performance[49]. - SharkNinja's growth strategy focuses on expanding in the top 25 cities in the Asia-Pacific region, including entering new countries like Australia, New Zealand, Singapore, and Malaysia[107]. Corporate Governance and Shareholder Actions - The company remains committed to maintaining good corporate governance practices and has complied with all applicable code provisions during the reporting period[115]. - The board proposed an interim dividend of HKD 0.0392 per share for the six months ended June 30, 2023, compared to no dividend for the same period in 2022[124]. - The company repurchased a total of 20,040,500 shares at a total cost of HKD 160,362,425, with the highest and lowest purchase prices being HKD 8.34 and HKD 7.76 respectively[119].
JS环球生活(01691) - 2023 - 中期业绩