Full Year 2024 JS Global Lifestyle Co Ltd Earnings Call Transcript
Key Points
- JS Global Lifestyle Co Ltd (JGLCF) reported a revenue increase of 11.5% year-over-year, reaching $1.59 billion in 2024.
- The company's gross margin improved to 34%, up by 1.5% from the previous year, driven by high-end product introductions and cost optimizations.
- SNAPEC's revenue contribution increased significantly, accounting for 25.1% of the company's total revenue in 2024, up from 12.6% the previous year.
- The company successfully expanded its market presence in Australia, New Zealand, and South Korea, achieving considerable growth in these regions.
- JS Global Lifestyle Co Ltd (JGLCF) launched several innovative products, including a non-stick zero-coating rice cooker and a portable blender, which have been well-received in various markets.
- The net profit of JS Global Lifestyle Co Ltd (JGLCF) declined significantly in 2024, primarily due to the underperformance of Joyoung and ongoing investments in SNAPEC.
- Joyoung's revenue decreased by about 3% year-over-year, attributed to fierce competition in the domestic market and weak performance in small household appliances.
- The company's accounts payable and bills turnover days decreased from 202 to 168 days, indicating potential cash flow management challenges.
- Despite growth in certain regions, there remains a significant gap between JS Global Lifestyle Co Ltd (JGLCF) and market leaders in terms of market share.
- The company faced challenges in achieving expected results from heavy investments in Joyoung, leading to pressure on profitability.
(spoken in foreign language)
Participants, please change your name into the organization name and your personal name. Please click more and the interpretation button to choose English channel. Thank you.
The journalists and investors. Good morning. I am Mas Chen, JS Global Lifestyle Investor Relations and Corporate Communication. Welcome to the JS Global Life 2021 annual performance conference. So before we officially begin, please allow me to introduce the management team who are here today. They are. Madam Han Run, Executive Director and CFO; Mr. Leon Liu, COO and SVP Finance; Mr. Kenny Kan, CEO of Joyoung; Mr. Max Miao, Board Secretary of Joyoung. And without further ado, please allow me to introduce Executive Director and CFO, Madam Han to make an opening speech.
Good morning. Thank you for attending the 2024 annual performance conference of JS Global Life despite your busy schedule here. On behalf of JS Global Life, I would
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