2024-02-02 20:39:00 ET
Summary
- JS Global Lifestyle’s profit fell 37% last year, as it blamed growing competition in its main China market following a spinoff of most of its global business.
- The kitchen appliance maker warned its profit fell 37% last year, following the spinoff and separate listing of its U.S.-based SharkNinja unit that accounted for three-quarters of its revenue.
- JS Global's spinoff of its U.S.-based SharkNinja unit reflects a growing trend among Chinese companies that are separating their global and China businesses.
By Doug Young
Lots has been happening lately in the kitchen of appliance maker JS Global Lifestyle Co Ltd. ([[JGLCF]], 1691.HK). Most recently, the maker of gadgets like coffee makers and blenders warned this week that its profit fell nearly 40% last year....
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JS Global Lifestyle's Profits Evaporate With China Homecoming