JS Global reports net loss despite strong APAC growth in H1 2025

JS Global Lifestyle Company Limited reported total revenue of $774.1 million for the first half of 2025, a 4.2% increase year-on-year. However, the group experienced a net loss of approximately $53.7 million, a significant decrease from the $29.6 million profit in the prior period. Gross profit increased by 1.1% to $248.5 million, though the gross profit margin decreased by 1.0 percentage point to 32.1%, primarily due to price reductions in the Joyoung segment and higher freight costs in SharkNinja APAC.

The SharkNinja APAC segment demonstrated strong growth, with revenue from third-party customers surging by 86.9% year-on-year to $230.1 million. This growth was driven by innovative product launches in cleaning and kitchen appliances, and expansion into new product categories and emerging markets, particularly Australia and South Korea. In contrast, the Joyoung segment's revenue from third-party customers remained stable at $490.1 million, a 0.6% increase, with growth in soymilk makers and boilers offsetting softer demand for rice cookers.

Other key financial highlights include a 12.2% increase in selling and distribution expenses to $164.5 million, mainly due to marketing investments in SharkNinja APAC. Administrative expenses also rose by 14.3% to $133.4 million, impacted by stock-based compensation and support for Asia Pacific operations. The group's gearing ratio increased to 10.3%, and total borrowings rose to $48.8 million as of June 30, 2025.