Joyoung Co., Ltd.Abstract of the Semi-Annual report 2021
Ticker: 002242 StockAbbreviation: Joyoung
Joyoung Co., Ltd.
Abstract of the Semi-Annual Report 2021
Section I Important Statements
This is an abstract of the Semi-Annual Report 2021. Investors are kindly reminded to read the complete version of Semi-annual Report 2021
on the website, which is designated by the China Securities Regulatory Commission to get complete information about operational results, financial
statements, and future plans of the Company.
All directors attended the board meeting that reviewed the Semi-Annual Report.
Modified Audit Opinion
□Applicable √ N/A
The preliminary plan for dividend distribution and converting capital reserves into share capital for common shareholders which were
considered and approved by the Board
□Applicable √ N/A
The preliminary plan for dividend distribution for preferred shares in the reporting period was approved by the Board
□Applicable √ N/A
Section II Company Profile
1. Company Information
StockAbbreviation Joyoung Ticker 002242
Stock Exchange Where the
Shares of the Company are Shenzhen Stock Exchange
Listed
Contact Us Board Secretary Securities Representative
Name Xuning WANG (acting) Minxin MIAO
Address No.760 Yinhai Street, Qiantang New District, No.760 Yinhai Street, Qiantang New District,
Hangzhou, Zhejiang Province Hangzhou, Zhejiang Province
Tel. 0571-81639093 0571-81639178
E-mail 002242@joyoung.com 002242@joyoung.com
2. Management's Discussion and Analysis
In the first half of this year, the gross domestic product (GDP) was 53.22 trillion yuan, up 12.7% year-on-year at comparable prices, with a
two-year average growth of 5.3%. Under the strong leadership of the Party Central Committee and the government, the epidemic prevention and
control, economic and social development have been coordinated, the domestic economy has continued to recover steadily, and new results have
been achieved in high-quality development. However, the current global epidemic continues to evolve, the external environment is more complex
and severe, the domestic economic recovery is still unstable and uneven, coupled with the rapid rise in international commodity prices this year, the
business efficiency of enterprises was under greater pressure and impact.
Joyoung Co., Ltd.Abstract of the Semi-Annual report 2021
Pioneer in R&D and Smart Products, with Focus on Mainstream Categories
In the first half of the year, the company continued to focus on small household appliances and innovation in mainstream products and
inelastic categories by being customer-centric and demand-oriented, and striving to maintain the stable development of gross margin of domestic
sales.
The Joyoung brand is positioned in quality small appliances sector, focusing on the launch of the HarmonyOS IoT Hand-wash-free High
Performance Blender Y521, Smart Charcoal Steel Rice Cooker F921, Crystal Diamond Rub-resistant Non-stick Wok, Rexiaojin RO Cold and Hot
Water Purifier, etc.; The Shark brand is positioned in household cleaning sector, launched Vacmop V5, Steam Scrubber T21, etc., dedicated to
meet people's pursuit of a better and quality life.
As a leading brand in the industry, the Company has been able to capture new market demands and react quickly through continuous
technology and product innovation, efficient digital user communication and product implementation, and fast and accurate marketing strategies.
Brand Communication-Channel Integration
The Company strives to achieve a comprehensive digital transformation, realizing cross-border operations in different fields such as social
e-commerce, online live streaming, and new retail, so as to seamlessly connect brands, products, and users. As Z generation gradually became the
mainstream consumer group in the new era, the Company's brand positioning and communication methods have become youthful, reaching the
target group with proactive and precise full-chain communication to improve the conversion rate along the chain.
In the first half of the year, the Company continued to actively layout and expand new channels online and offline, coordinated the
development of traditional e-commerce and content e-commerce, O2O new retail and lower tier markets, grasped the opportunity in live streaming
that is on the rise, focused on developing emerging platforms such as Tiktok and Kuaishou, built one of the fastest powerful se
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