Ticker: 002242 StockAbbreviation: Joyoung
Joyoung Co., Ltd.
Abstract of the Semi-Annual Report 2024
Section I Important Statements
This is an abstract of the Semi-Annual Report 2024. Investors are kindly reminded to read the complete version of Semi-annual Report 2024
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
TheCompanyplans nottodistributecashdividends,nottoissuebonusshares,andnottoincreasecapitalthroughtheconversion ofcapitalreserves.
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 Shenzhen Stock Exchange
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 the National Bureau of Statistics (NBS), China’s Gross Domestic Product (GDP) amounted to 61.7 trillion yuan in the first half of
this year, representing a year-on-year growth of 5.0%; of which, GDP in the second quarter saw a year-on-year growth of 4.7%(www.gov.cn). Since
the beginning of this year, despite some fluctuations in global economy, frequent geopolitical conflicts and international trade frictions, etc., domestic
macroeconomic operation was generally stable as domestic demand was picking up gradually.
Although China is in a critical period of transforming the mode of development, optimizing the economic structure and transforming the growth
engine, high-quality development is still the core of the new era. As the domestic consumer goods industry continues to experience technology
upgrading, structural adjustment and market segmentation, players in the industry proactively adapt to changes in the consumption environment,
demonstrating the strong resilience and development potential of the domestic consumer market.
Duringthereportingperiod,theCentralCommitteeoftheCommunistPartyofChina,theStateCouncilandrelevantministries andcommissions
also successively proposed the policy of “supporting the trade-in of household appliances and other durable consumer goods”, supporting the
construction of a recycling system for used household appliances and furniture, and other renewable resources, assisting local governments in
promoting the trade-in of household appliances and other durable consumer goods, actively expanding domestic demand, and leveraging the
fundamental role of consumption in driving economic growth.
Although the competition in the small household appliance industry, in which the Company operates, continues to intensify, the market
concentration of leading brands is still relatively high. At the same time, new brands are rapidly emerging by virtues of innovative technology and
Internet marketing, promoting rapid iteration and change in the industry. Consumers are willing to pay a reasonable premium for high quality, high
value, cost-effective small household electrical appliances with health and wellness, especially those personalization, intelligence, environmental
protection and environmental friendliness.
Space Technology: Quality Technology Leading to New Life
ThisApril, Joyoung launched the space technology 3.0 series of products including the 0-coating non-stick rice cooker 40N9U Pro, the water
purifier with heating function R5 Pro, and the multi-functional high-speed blender Y8 at its new product launch event in Shanghai celebrating the
30th anniversary of the starting of Joyoung.
Space Technology 3.0: 0-Coating Non-stick Rice Cooker 40N9U Pro
Tomakegreatrice,Joyoungupgradeditsnewdual-coreair-coolingsystemandaddedfar-infraredtopheating,whichcanbetterachieveprecise
temperature control of the rice. It can also adjust rice texture from soft to hard to meet the personalized needs, and currently supports “one-touch”
intelligent customized cooking for 8 types of rice, all in the pursuit of returning to
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