JS Global Life (01691) issued an announcement that it is expected that the Group will continue to operate for the year ended December 31, 2023...
Zhitong Finance App News, JS Global Life (01691) announced that the Group's profit from continuing operations for the year ended December 31, 2023 is not less than US$70 million (2022 (re-listed): approximately US$111.5 million), a decrease of about 37.2% over the same period last year.
According to the announcement, the expected decline in profit from continuing operations is mainly due to: a sharp increase in one-time professional service costs due to the spin-off and physical distribution of all shares held by the company; an increase in sales and promotion expenses for expanding the Asia-Pacific market, including strengthening the promotion of brand image and consumer awareness through different media channels, enhancing omnichannel distribution capabilities, increasing sales staff, and promoting core products and new products; and the increase in human resources costs in line with the overall expansion of the Asia-Pacific market; and the Group's business in the Chinese market It is affected by adverse factors such as increased competition in the industry, accelerated changes in channels, changes in the domestic and foreign sales revenue structure, and the fact that revenue from dominant categories has not stabilized.