Ticker: 002242 StockAbbreviation: Joyoung
Joyoung Co., Ltd.
Abstract of the Semi-Annual Report 2023
Section I Important Statements
This is an abstract of the Semi-Annual Report 2023. Investors are kindly reminded to read the complete version of Semi-annual Report 2023
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 capitalreserves 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 Shenzhen Stock Exchange
of the Company are Listed
Contact Us Board Secretary Securities Representative
Name Minxin MIAO
Address No.760 Yinhai Street, Qiantang New District,
Hangzhou, Zhejiang Province
Tel. 0571-81639178
E-mail 002242@joyoung.com
2. Management's Discussion and Analysis
According to National Bureau of Statistics, China’s Gross Domestic Product (GDP) amounted to 59.3trillion yuan in the first half ofthisyear, a
year-on-year increase of 5.5% atconstant prices; of which, GDP in the second quarter sawa year-on-year increase of 6.3%.At present, the national
economy continues to recover, the overall rebound is improving, high-quality development is advancing solidly. It is in a critical period of economic
recovery and industrial upgrading, structural problems and cyclical contradictions are intertwined and overlapping, the domestic and international
environment is complex and volatile, the world's unprecedented changes are accelerating. Fluctuations in international commodity prices and
exchange rates are still large, which exerts greater pressure and impacts on the operating efficiency of enterprises.
The Party Central Committee, the State Council and relevant ministries and commissions have emphasized the need to actively expand
domesticdemandwhileconsumptionplaysafundamentalroleineconomicgrowth.Thehouseholdelectricalapplianceindustryhasgraduallybecome
an important engine of industrial steady growth, promote consumption, promote intelligent home appliances, integrated home appliances, functional
furniture and other products, to enhance home intelligence and environmental protection, to meet the needs of the people's aspirations for a better
life.
Space Technology: Quality Technology Leading to New Life
In the first half of the year, the Company mainly popularized the Space Series 2.0 products, focusing on the distribution of medium- and high-
end product lines, leading the industry in a new development direction, and launched newproducts such as the 0-coating non-stick rice cooker N1S,
quick &easy air fryer V1 Fast and less noisy blender with BLDC B1.
TheinnerlinerofN1Sismadeoffood-gradestainlesssteel,whichisareal0-coatinginnerliner, avoidingthehiddendanger ofcoatingshedding,
addressing customers’ worries about the health hazards of coating shedding. N1S is equipped with Joyoung's original air-cooled space technology,
which precisely controls the temperature of each section of the core to brings a better texture of the rice. By relying on the air-cooled cooling, the
water vapor forms a layer of uniform thickness of water film on the inner liner wall, which separates the rice and inner liner to achieve the effect of
non-stick; coupled with the application of the "dot-matrix micro-pit", N1S makes the structure of the water film more stable, and further enhances the
effect of non-stick. This originally-developed rice cooker helped the Company realize breakthrough in revenue on rice cooker category.
Joyoung applied spacekitchen "three-dimensional hot air heating technology" to air fryers, thus userscould bake crispy food with juicy texture
without turning over the food during the whole cooking process. The V1 Fast Air Fryer is also equipped with Joyoung's unique 6-layers sealed water
system, whichforms a 240 degrees high temperature 85% saturatedsteam environment insidethe air fryer, and userscould choosetender or crispy
texture with one click, bringing users the wonderful experience of cooking a pot of juicychicken wings in 8 minutes.
The Company insist
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