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JS环球生活(01691) - 2024 - 年度业绩
01691JS GLOBAL LIFE(01691)2025-03-27 14:18

Financial Performance - Revenue from continuing operations was 1,593.6million,anincreaseof11.51,593.6 million, an increase of 11.5% year-over-year[4]. - Gross profit from continuing operations was 510.2 million, up 4.8% year-over-year[4]. - Profit from continuing operations decreased to 8.8million,adeclineof87.58.8 million, a decline of 87.5% year-over-year[4]. - EBITDA from continuing operations decreased by 86.5% to approximately 15.7 million[4]. - Adjusted net profit from continuing operations decreased by 76.5% to approximately 7.1million[4].−Totalcomprehensiveincomefortheyearwasalossof7.1 million[4]. - Total comprehensive income for the year was a loss of 3.3 million compared to a gain of 120.9millioninthepreviousyear[7].−Basicearningspershareforcontinuingoperationswas120.9 million in the previous year[7]. - Basic earnings per share for continuing operations was 0.015, down from 0.2[6].−Thecompanyreportedasignificantincreaseinsalesanddistributionexpenses,risingto0.2[6]. - The company reported a significant increase in sales and distribution expenses, rising to 331.5 million from 256.3million[5].−Thecompanyexperiencedaforeignexchangelossof256.3 million[5]. - The company experienced a foreign exchange loss of 9.9 million from overseas operations[7]. - Total revenue for the year was 1,593.6million,comparedto1,593.6 million, compared to 1,428.7 million in the previous year[5]. Assets and Liabilities - Total non-current assets decreased from 381,382thousandin2023to381,382 thousand in 2023 to 369,353 thousand in 2024, a decline of approximately 3%[8]. - Current assets increased from 1,021,909thousandin2023to1,021,909 thousand in 2023 to 1,127,457 thousand in 2024, representing an increase of about 10.3%[8]. - Current liabilities rose from 694,758thousandin2023to694,758 thousand in 2023 to 772,265 thousand in 2024, an increase of approximately 11.1%[9]. - Net current assets improved from 327,151thousandin2023to327,151 thousand in 2023 to 355,192 thousand in 2024, reflecting an increase of about 8.6%[9]. - Total assets less current liabilities increased from 708,533thousandin2023to708,533 thousand in 2023 to 724,545 thousand in 2024, a growth of approximately 2.3%[9]. - Non-current liabilities surged from 10,368thousandin2023to10,368 thousand in 2023 to 32,372 thousand in 2024, marking an increase of about 212%[9]. - Total equity decreased slightly from 698,165thousandin2023to698,165 thousand in 2023 to 692,173 thousand in 2024, a decline of approximately 0.9%[9]. - Cash and cash equivalents rose from 319,801thousandin2023to319,801 thousand in 2023 to 359,580 thousand in 2024, an increase of about 12.4%[8]. Segment Performance - SharkNinja's total revenue for the year ending December 31, 2024, reached 1,593,585thousand,anincreasefrom1,593,585 thousand, an increase from 1,428,706 thousand in 2023, representing a growth of approximately 11.5%[20]. - The segment revenue for SharkNinja was 1,554,764thousand,with1,554,764 thousand, with 1,212,469 thousand from product sales and 342,295thousandfromtheAsia−Pacificsegment[18].−Theadjustedpre−taxprofitforSharkNinjawas342,295 thousand from the Asia-Pacific segment[18]. - The adjusted pre-tax profit for SharkNinja was 7,655 thousand, reflecting a decrease compared to the previous year's profit of 84,824thousand[19].−RevenuefrommainlandChinawas84,824 thousand[19]. - Revenue from mainland China was 1,003,969 thousand, showing a slight decline from 1,037,566thousandin2023[20].−TheAsia−Pacificsegmentreportedarevenueof1,037,566 thousand in 2023[20]. - The Asia-Pacific segment reported a revenue of 381,116 thousand, with a significant increase in procurement services contributing 38,821thousand[18].TaxationandCompliance−Thetotaltaxexpenseforcontinuingoperationswasacreditof38,821 thousand[18]. Taxation and Compliance - The total tax expense for continuing operations was a credit of (1,097) thousand in 2024, compared to an expense of 14,559thousandin2023[29].−Thegroupissubjecttoacorporateincometaxrateof2514,559 thousand in 2023[29]. - The group is subject to a corporate income tax rate of 25% in China for taxable income, with three entities qualifying for preferential tax rates until December 31, 2024[31]. - In Hong Kong, the estimated taxable profits are subject to a tax rate of 16.5%, with one subsidiary qualifying for a two-tiered tax system in 2023, where the first HKD 2,000,000 is taxed at 8.25%[32]. - The group's effective tax rate for continuing operations is calculated at 17.2% based on actual rates applied[34]. - The group has recognized deferred tax assets and liabilities related to Pillar Two income tax regulations, effective in certain jurisdictions including South Korea and Australia[35]. Discontinued Operations - The company terminated operations of SharkNinja Group in July 2023, distributing all shares to shareholders[11]. - The company completed the distribution of all its shares in SharkNinja Group to shareholders on July 31, 2023, resulting in SharkNinja no longer being a subsidiary[37]. - As of July 31, 2023, the total assets of the discontinued operations amounted to 3,594,750,000, while total liabilities were 2,092,152,000,leadingtoanetassetvalueof2,092,152,000, leading to a net asset value of 1,502,598,000[39]. - The basic and diluted earnings per share from discontinued operations were both 0.023fortheperiod[41].OperationalHighlights−ThecompanysuccessfullylaunchedinnovativesmallappliancesundertheSharkNinjabrand,focusingontheAsia−PacificmarketexcludingmainlandChina[71].−TheJoyoungdivisionmaintainedaleadingpositioninseveralinnovativeproductcategoriesinthemainlandChinamarketduringthereportingperiod[72].−Thecompanyaimstoexpanditsmarketpresencebyintroducingnewproductsandenhancingitsmarketingactivities[71].−Thecompanyisfocusingonexpandingitsretailchannels,includinge−commerceandcontent−drivenplatforms,toenhanceuserengagementandbrandloyalty[75].−Thecompanyaimstostrengthenitsdirectsalesteamandenhanceretailexperiencestobetterconnectwithconsumersandadapttomarkettrendsin2024[75].EmployeeandGovernance−AsofDecember31,2024,thegrouphasapproximately2,558employees,withemployeecostsconfirmedat0.023 for the period[41]. Operational Highlights - The company successfully launched innovative small appliances under the SharkNinja brand, focusing on the Asia-Pacific market excluding mainland China[71]. - The Joyoung division maintained a leading position in several innovative product categories in the mainland China market during the reporting period[72]. - The company aims to expand its market presence by introducing new products and enhancing its marketing activities[71]. - The company is focusing on expanding its retail channels, including e-commerce and content-driven platforms, to enhance user engagement and brand loyalty[75]. - The company aims to strengthen its direct sales team and enhance retail experiences to better connect with consumers and adapt to market trends in 2024[75]. Employee and Governance - As of December 31, 2024, the group has approximately 2,558 employees, with employee costs confirmed at 241.5 million[155]. - The company provides training for all employees covering corporate culture, R&D, strategy, and business skills[156]. - The company has established four board committees, including the Strategy Committee and Audit Committee, in compliance with corporate governance regulations[159]. - The company has adhered to all applicable corporate governance code provisions, with the exception of the separation of roles between the Chairman and CEO[161]. Future Outlook - The company plans to launch more impactful market products in the Philippines, Thailand, and Indonesia in the first half of 2025[84]. - The company aims to enhance brand awareness and influence through localized products tailored to consumer needs in different regions[146]. - The company is actively seeking potential strategic partnerships and quality acquisition opportunities[146]. - The company anticipates no significant risk from Pillar Two income tax as most jurisdictions have an effective tax rate above 15%[36].