Joyoung Co., Ltd.

Company Profile

a.Brand Advantage Adhering to the brand concept of "Healthy and Enjoyable", the Company promotes multi-level brand development through original smart technologies that bring products into consumers' daily lives. As a household name over 30 years, Joyoung has established a "thoughtful, warm, and health-conscious" brand image. With decades of specialization in small appliance R&D and manufacturing, we possess extensive supplier/retailer networks, strong R&D capabilities, and excellent industry reputation. Our 2024 launches including the Space Technology 3.0 series and Lifestyle series received widespread consumer acclaim for functionality, aesthetics, and user experience. Joyoung offers a product portfolio covering soymilk makers, high-speed blenders, rice cookers, electronic pressure cookers, electric steamers, smart wellness kettles, air fryers, water purifiers, floor cleaners, high-speed hair dryers, and cookware, maintaining leading market positions in key categories. Founded in 1998 in Boston, USA, Shark entered the Chinese market in early 2018 as the top-selling brand in the U.S. tech-enabled home cleaning category. Its wholly-owned subsidiary, Shark China, handles brand promotion, marketing, localized product development, and market entry operations for the Shark brand in China, focusing on delivering tailored home cleaning solutions for Chinese households. Shark's product lineup features all-in-one washer-dryer floor cleaners with caterpillar tracks, foldable multi-functional vacuum cleaners, and robot vacuums and so on. b.Channel Advantage With over 30 years of expertise in the small home appliance industry, we have adopted a hybrid model combining direct sales and authorized dealerships, supported by nationwide distribution networks and a robust customer base. In order to better contact users, serve consumers and comply with the market development trend, we prioritize retail-driven sales activation by expanding direct sales teams and strengthening terminal retail operations—strategies that foster closer brand-consumer relationships and drive sustainable, high-quality growth. In 2024, amid China’s rapidly evolving retail channels, we strategically balanced shelf-based e-commerce, content-driven platforms, premium department stores, new retail formats, and lower-tier city markets. We aggressively expanded emerging channels, particularly content-centric e-commerce platforms, and established specialized teams for user research, data analytics, content creation, livestreaming, scriptwriting, and video production. Our self-operated livestreaming matrix and “online recommendation-purchase-share” closed-loop ecosystem not only elevated brand NPS (Net Promoter Score) but also attracted new users, customer segments, and brand advocates. Concurrently, the Company intensified retail terminal development and sales associate training programs, mandating standardized scenario-based product demonstrations and livestreaming initiatives across all stores. Leveraging our self-developed digital middle-office platform, we refined an omni-channel O2O (online-to-offline) marketing operations system to identify emerging channel opportunities. While maintaining sales performance rigor, we now emphasize end-to-end user experience and feedback loops across the entire sales chain, holistically enhancing retail execution capabilities. c.Product Advantage The growing consumer aspiration for better living standards has driven increased demand for premium, aesthetically refined, integrated, and intelligent small home appliances that enhance convenience and comfort. To address diverse user needs across scenarios, the Company delivered high-quality products that customers proudly share and recommend, achieving dual growth in product value and brand equity while actively boosting market share. During the reporting period, our SpaceTech 3.0 Series dominated the premium market by setting new industry standards, featuring innovation launches like the 0-Coating Nonstick Rice Cooker 40N9U Pro, Space Water Purifier R5P, and All-in-One Nutrition Blender Y8, Hands-Free Quiet Low-Purine Soy Milk Maker K7 Pro, and Rapid Brew Wellness Kettle. In the cleaning appliance segment, we pioneered an 8.9cm ultra-slim floor cleaner with standardized anti-hair-tangle technology as a core selling point. We are committed to delivering whole-home integrated solutions that bridge healthy cooking and healthy living environments. This strategy transcends mere product category expansion—it embodies our brand DNA of "health-driven innovation," amplifies technological credibility, and fulfills evolving consumer aspirations for premium lifestyle experiences through systematic value creation. d.Operating advantage In 2024, leveraging our self-developed digital middle-office platform, we harnessed big data analytics to refine digitalized operations and adapt to the accelerated integration of online and offline ecosystems. To advance digital transformation amid fragmented information flows, we optimized services for private-domain traffic while attracting public-domain users. We established a seamless new retail O2O experience loop encompassing content-driven product seeding, in-store experiences, online ordering, proximity-based delivery, and doorstep services—laying the groundwork for future value extraction from the digital economy. The internet-driven revolution extends beyond marketing to demand-product-supply chain intelligence. By implementing systems like QMS (Quality Management System), we pioneered smart manufacturing management, digitizing processes to enable lean production and lifecycle quality control. Rigorous process monitoring at every stage ensures product excellence and end-to-end intelligent production. Through multiple integrated digital platforms, we achieved intelligent hardware-software ecosystem convergence. Our SRM (Supplier Relationship Management) system streamlines supplier collaboration with real-time data-driven oversight, while the MES (Manufacturing Execution System) monitors production workflows. Combined with WMS (Warehouse Management System) and interconnected internal platforms for quality control, R&D, and procurement, these tools enhance supply chain agility and production forecasting accuracy, ensuring timely delivery and optimized capacity planning.