JS Global Lifestyle Company Limited (JS Global) has renewed its key sourcing arrangement with affiliated manufacturer Joyoung, securing production continuity for “Shark” and “Ninja” small-home appliances beyond mid-2026.
Under the newly signed 2026 Sourcing Services Agreement – Joyoung, SharkNinja (Hong Kong) Company Limited (wholly owned by New York-listed SharkNinja Inc.) will continue to purchase cooking, food-preparation and floor-care products from Joyoung Group or its OEM partners. The contract runs from 31 July 2026 to 31 December 2027.
Transaction scale and caps • Historical procurement from Joyoung by SharkNinja reached US$191.60 million in 2024 and US$88.70 million in 2025, with US$20.00 million recorded in the first five months of 2026. • For the five-month period from 31 July to 31 December 2026, JS Global has proposed an annual cap of US$18.61 million, determined with reference to industry demand for smart appliances, foreign-trade conditions, existing orders and expected production costs. • Annual caps for 2027 will be proposed separately and submitted for shareholder approval in due course.
Connected-transaction classification SharkNinja HK qualifies as a connected person under Hong Kong Listing Rule 14A because JS Global’s chairman, Mr Wang Xuning, together with associated entities, holds more than 30% of SharkNinja. Aggregated with the current sourcing agreement that expires on 30 July 2026, the renewed deal pushes the highest applicable percentage ratio above 5%, triggering requirements for public disclosure, a circular and independent shareholders’ approval at an extraordinary general meeting (EGM).
Governance and approval process • An Independent Board Committee comprising all independent non-executive directors will evaluate the terms and the proposed cap. • Gram Capital has been appointed as independent financial adviser to report to the committee and non-connected shareholders. • Mr Wang and his associates will abstain from voting on the relevant resolutions at the forthcoming EGM.
Strategic rationale Management highlights Joyoung’s established technical capability, production experience and supply-chain integration in SN-branded product categories. Continuation of the sourcing framework is expected to maintain capacity utilisation, improve operational efficiency and stabilise JS Global’s revenue and margin profile.
Controls and compliance JS Global has put in place multi-layer internal controls—including oversight by the audit committee, regular benchmarking of pricing against third-party terms and annual independent reviews—to ensure the transactions remain on normal commercial terms and in shareholders’ best interests.