JS Global Lifestyle Company Limited (JS Global) will raise the 2026 annual transaction ceiling under its Sourcing Services Agreement with the Joyoung Group to US$30.00 million, up 17% from the prior limit of US$25.63 million.
The move responds to stronger-than-expected demand and favorable changes in global trade and tariff conditions that have accelerated order flow since the start of 2026. From 1 January to 31 May 2026, related-party purchases reached US$20.00 million, already 78% of the former cap.
Historical spend illustrates the relationship’s scale and recent moderation: • FY 2024 actual: US$191.60 million • FY 2025 actual: US$88.70 million • FY 2026 YTD (to 31 May): US$20.00 million
Under the agreement, Joyoung either manufactures or outsources production of SharkNinja-branded cooking, food-prep and floor-care appliances, selling them to SharkNinja (Hong Kong). Pricing remains on an arm’s-length basis via a cost-plus markup mechanism aligned with historical service rates and prevailing cost structures. All commercial terms are unchanged aside from the revised cap.
Regulatory context Because SharkNinja HK is indirectly more than 40% owned by controlling shareholders of JS Global, the sourcing arrangement constitutes a continuing connected transaction under Chapter 14A of Hong Kong’s Listing Rules. The highest applicable percentage ratio is above 0.1% but below 5%, triggering disclosure and reporting requirements while exempting the deal from circular and independent shareholder approval.
Governance safeguards Executive directors Mr. Wang Xuning and Ms. Han Run—both connected to SharkNinja shareholding—abstained from the board vote. Independent non-executive directors affirmed that the revised cap and underlying transactions are fair, conducted in the ordinary course of business, and in shareholders’ interests. JS Global detailed multi-layer internal controls, including audit-committee oversight, periodic market-price benchmarking, and annual third-party review by auditors and independent directors.
JS Global remains focused on leveraging Joyoung’s manufacturing reach during SharkNinja’s post spin-off transition while continuing to diversify its OEM base.