Revenue Increased on a Constant Currency Basis as a Result of Successful Management Through Dynamic Operating Environment

Successfully Grew Market Share in Every Major Category in Which SharkNinja Operates in the U.S.

HONG KONG, Aug. 29, 2022 /PRNewswire/ -- JS Global Lifestyle Company Limited (Stock code: 1691.HK) ("JS Global" or the "Company"), a world-leading producer of small household appliances that operates three major brands: Shark, Ninja and Joyoung, today reported its interim financial results for the six months ended June 30, 2022.

"I am pleased to report that we maintained our level of revenue while navigating challenging macroeconomic conditions and after seeing tremendous growth in 2021 and 2020," said Wang Xuning, Chairman and Chief Executive Officer of JS Global. "Despite global headwinds, we were able to grow market share in every major category in which SharkNinja operates in the U.S. The successful launch of new categories in the second half of 2021 also contributed meaningfully to our revenue during the first half of 2022. Innovation is at the core of who we are at JS Global. I am thrilled at what is to come as we remain focused on our long-term objectives while adhering closely to our proven strategy."

2022 Interim Financial Results and Commentary

• Revenue was US$2,232.2 million for the six months ended June 30, 2022, flat compared to the same period in the prior year. On a constant currency basis, revenue increased by 0.8%.
  
  - SharkNinja's revenue was US$1,593.2 million for the six months ended June 30, 2022, flat compared to the same period in the prior year. On a constant currency basis, revenue increased by 1.2%.
  
  - Joyoung's revenue was US$639.0 million for the six months ended June 30, 2022, a slight decrease of 0.6% versus the same period in the prior year. On a constant currency basis, revenue decreased by 0.3%.
• Profit was US$180.9 million for the six months ended June 30, 2022, a decrease of US$36.7 million, or 16.9% versus the same period in the prior year.
• EBITDA was US$302.2 million for the six months ended June 30, 2022, a decrease of US$34.0 million, or 10.1% versus the same period in the prior year.
• Adjusted EBITDA was US$318.4 million for the six months ended June 30, 2022, a decrease of US$32.1 million, or 9.2% versus the same period in the prior year.
• Adjusted net profit attributed to owners of the parent was US$188.9 million for the six months ended June 30, 2022, a decrease of US$26.1 million, or 12.1% versus the same period in the prior year.
• Basic EPS attributable to ordinary equity holders to the parent was US$0.048 for the six months ended June 30, 2022, a decrease of US$0.009, or 15.9 versus the same period in the prior year.
• Diluted EPS attributable to ordinary equity holders to the parent was US$0.048 for the six months ended June 30, 2022, a decrease of US$0.009, or 15.8% versus the same period in the prior year.

Recent Business Highlights

• JS Global's revenue has grown by 80.6% compared to the first half of 2019 led by the continued success and expansion of the Shark and Ninja brands, as well as gross profit growth of 86.6% compared to the first half of 2019.
• Shark brand remains the #1 vacuum brand in the U.S., while Ninja brand continues to be the #1 brand in small kitchen appliances in the U.S.. Our market share within cleaning appliances grew from 30.8% to 34.4%^[1], cooking appliances from 25.2% to 25.4%^[2], and food preparation appliances from 32.5% to 35.2%^[3] in the U.S..

Balance Sheet and Cash Flow Highlights

• As of June 30, 2022, cash and cash equivalents were US$550.9 million, outstanding debt (total borrowings) was US$975.2 million, and gearing ratio (calculated as the total debt (including interest- bearing bank borrowings and lease liabilities) divided by total equity) was 54.5%.
• Capital expenditures were US$69.4 million for the six months ended June 30, 2022 compared to US$53.9 million in the same period in the prior year.
• JS Global had 3,408,381,000 fully diluted shares outstanding as of June 30, 2022.

Conference Call and Webcast Information

• The video presentation and accompanying slide presentation have been posted to the Events section of JS Global's Investor Relations website at https://www.jsgl.com/en/investor/register.html.
• Interim results announcement: https://www.jsgl.com/en/investor/notice.html
• August 29, 2022 at 9:40 p.m. ET / August 30, 2022, at 9:40 a.m. HKT: JS Global management will host a live Q&A audio webcast which will be posted to the Events section of JS Global's Investor Relations website at https://www.jsgl.com/en/investor/register.html. Those who would like to ask a question during the live call can dial-in using the information below.
• The video presentation and the live Q&A will be in both English and Mandarin and will also be archived and available for replay.
• You can watch the video presentation via webcast on August 29, 2022 at 9:00 p.m. ET / August 30, 2022, at 9:00 a.m. HKT at https://www.jsgl.com/en/investor/register.html; please refresh the page on August 29, 2022 at 9:40 p.m. ET / August 30, 2022, at 9:40 a.m. HKT before entering the Q&A session. You can ask questions in the "question area" of the page or by dialing in using the information below.

Those interested in asking a question during the live Q&A audio webcast can dial in:

• United States dial-in: 1 866 213 0992/1 866 226 1406
• Mainland China dial-in: 4008 428 338/4006 786 766
• Hong Kong dial-in: +852 2112 1888
• Singapore dial-in: 800 492 2081
• United Kingdom dial-in: 0800 032 2849
• English Passcode: 8323130#
• Mandarin Passcode: 8027130#

After joining the conference call, participants can press *1 to raise hand to ask a question. Both English and Mandarin questions will be accepted.

About JS Global

JS Global Lifestyle Company Limited (Stock code: 1691.HK) is a world leading producer of small household appliances. It ranks fourth globally in the small household appliance industry and third among small household appliance-focused companies.^[4] 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.

About SharkNinja

SharkNinja is an innovation leader in the housewares industry and creator of the familiar household brands Shark and Ninja. SharkNinja provides the latest in easy-to-use innovative technology with a growing line of solutions that consist of Shark cleaning and home care products and Ninja kitchen appliances. Products are sold at major retailers and through distributors around the world. Ninja and Shark are registered trademarks of SharkNinja Operating LLC. SharkNinja is a subsidiary of JS Global Lifestyle Company Limited (Stock code: 1691.HK) a leader in small household appliance innovation.

About Joyoung

Joyoung (Stock code: 002242.SZ) is SharkNinja's sister brand and has become a well-known small household electrical appliance enterprise and one of the market share leaders in China. Joyoung invented the first soymilk maker in China and closely connect the concept to plant-based solutions. With 28 years of experience and over 10,000 patented technologies, Joyoung specializes in the research and development, design, manufacturing, and sale of its innovative product categories including small household appliances, primarily focusing on kitchen. Joyoung is a subsidiary of JS Global Lifestyle Company Limited (Stock code: 1691.HK) a leader in small household appliance innovation.

Media

Edmond Lococo, Managing Director, ICR Inc.

JSGlobalPR@icrinc.com

Company Contacts

Venus Zhao, Head of Investor Relations, Public Relations and Compliance, JS Global Lifestyle

Venus.Zhao@jsgl.com

Adam Quigley, VP of Finance at SharkNinja

AQuigley@sharkninja.com

Investor Relations

ir@jsgl.com

SOURCE JS Global Lifestyle Company Limited