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