JS Global revises product development cap, sets new sourcing cap

JS Global Lifestyle Company Limited is revising the annual cap for its Product Development Agreement for the year ending December 31, 2026, from $8.4 million to $11.41 million. This change follows the "2025 October Amendments of PDA" with SharkNinja Europe, which adjusted service fees and payment terms. The revision reflects accelerated growth in APAC markets, the need for extended product development support, and an estimated increase in costs for designated engineers.

Separately, JS Global has proposed an annual cap of $25.63 million for the Sourcing Services Agreement – Joyoung for the year ending December 31, 2026. This cap is based on historical transaction amounts, forecasted demand for SharkNinja-branded small household products manufactured by Joyoung Group or its OEM suppliers, and expected purchase fees. As of September 30, 2025, the transaction amount under this agreement was $74.6 million, within the existing annual cap of $110.0 million for 2025.

Both the revised Product Development Agreement and the proposed Sourcing Services Agreement annual caps for 2026 are considered continuing connected transactions. They are subject to reporting and announcement requirements but are exempt from circular and independent shareholders' approval requirements under Chapter 14A of the Listing Rules, as their highest applicable percentage ratio falls between 0.1% and 5%.