JS Global Lifestyle proposes significant increase in brand license annual cap

JS Global Lifestyle Company Limited (JS Global Lifestyle) has proposed an annual cap of $28 million for its Brand License Agreement for the year ending December 31, 2026. This is a significant increase from historical transaction amounts of $1.9 million for 2023, and $9.9 million for 2024. From January 1 to November 30, 2025, the transaction amount under the agreement was $14.0 million, within the $23.0 million annual cap for 2025.

The proposed cap is based on historical transaction amounts, expected sales growth of SN brands in the Asia Pacific Region in 2026, and the strategic positioning and introduction of these products. Under the Brand License Agreement, JS Global Trading, a subsidiary of JS Global Lifestyle, holds non-exclusive rights to obtain, produce, and source, and exclusive rights to distribute and sell, SN brands in the Asia Pacific Region and Greater China. A license royalty, expected to be approximately 3% of net sales, is paid to the SharkNinja Group.

SharkNinja Europe, a party to the agreement, is a wholly-owned subsidiary of SharkNinja, which is over 40% owned by JS&W. JS&W is owned by JS Global Lifestyle's controlling shareholders, making the Brand License Agreement a continuing connected transaction under Listing Rules Chapter 14A. The transaction is subject to reporting and announcement requirements but exempt from circular and independent shareholders' approval, as the highest applicable percentage ratio is between 0.1% and 5%.