Summary by Futu AI
JS Global Life Co., Ltd. ("JS Global Life") announced the financial report for the third quarter and the previous three quarters ending September 30, 2024 of its subsidiary Joyoung Co., Ltd. ("Joyoung"). The report shows that Joyoung's revenue in the third quarter decreased by 27.12% compared to the same period last year, and decreased by 8.84% for the previous three quarters. Meanwhile, the net profit attributable to Joyoung's shareholders saw a significant decline, turning from a profit of 116,354,565.00 RMB in the third quarter of the previous year to a loss of 77,328,704.46 RMB, a decrease of 166.46%. The net profit for the previous three quarters also decreased by 73.02%. In addition, Joyoung's weighted average return on net assets also decreased. The report mentioned non-recurring gains and losses including equity disposal gains, government subsidies, and other items. On October 30, 2024, this announcement was made by the Chairman of the Board, Wang Xuning, from JS Global Life, who also listed the board of directors' members.
