JS Global Lifestyle Company Limited (HK:1691) has released an update.
JS Global Lifestyle Company Limited has issued a profit warning, anticipating a decrease in profit from continuing operations by up to 38.7% compared to the previous year, with profits expected to be around US$28.3 million. The decline is primarily due to increased sales and marketing expenses in the Asia Pacific, higher administrative costs, and challenges in the China market, including heightened competition and delayed product launches. Additionally, adjusted profits are expected to drop by approximately 73.3%, mainly because certain sourcing service incomes are set to be discontinued in 2025.
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