Joyoung Co. Ltd. Abstract of the Semi-Annual report 2026

Ticker: 002242 Stock Abbreviation: Joyoung

Joyoung Co. Ltd.Abstract of the Semi-Annual Report 2026

Section I Important Statements

This is an abstract of the Semi-Annual Report 2026. Investors are kindly reminded to read the complete version of Semi-annual Report 2026

on the website which is designated by the China Securities Regulatory Commission to get complete information about operational results financial

statements and future plans of the Company.All directors attended the board meeting that reviewed the Semi-Annual Report.Modified Audit Opinion

□Applicable √ N/A

The preliminary plan for dividend distribution and converting capital reserves into share capital for common shareholders which were considered

and approved by the Board

□Applicable √ N/A

The Company plans not to distribute cash dividends not to issue bonus shares and not to increase capital through the conversion of capital

reserves.The preliminary plan for dividend distribution for preferred shares in the reporting period was approved by the Board

□Applicable √ N/A

Section II Company Profile

1. Company Information

Stock Abbreviation Joyoung Ticker 002242

Stock Exchange Where the Shares of

the Company are Listed Shenzhen Stock Exchange

Contact Us Board Secretary Securities Representative

Name Minxin MIAO

Address No.760 Yinhai Street Qiantang District HangzhouZhejiang Province

Tel. 0571-81639178

E-mail 002242@joyoung.com

2. Management's Discussion and Analysis

In the first half of 2026 China’s economy remained generally stable amid a complex and rapidly changing domestic and international

environment withstanding pressure and operating within a reasonable range while new growth drivers expanded rapidly further demonstrating the

resilience of the Chinese economy. According to data released by the National Bureau of Statistics China’s gross domestic product (GDP) reached

RMB 69.6 trillion in the first half of 2026 representing a year-on-year increase of 4.7%. GDP grew by 5.0% year-on-year in the first quarter and by

1Joyoung Co. Ltd. Abstract of the Semi-Annual report 2026

4.3% year-on-year in the second quarter [Note 1]. Economic growth remained resilient but the recovery in domestic demand continued to face certain

pressure.The consumer market maintained moderate growth overall while consumption patterns continued to diverge. In the first half of 2026 total

retail sales of consumer goods in China reached RMB 24.8722 trillion representing a year-on-year increase of 1.3%. Retail sales of consumer

goods excluding automobiles amounted to RMB 22.9034 trillion representing a year-on-year increase of 2.8%. With respect to consumption data

related to the household appliance industry retail sales of household appliances and audio-visual equipment by enterprises above the designated

size decreased by 7.4% year-on-year in the first half of 2026 and by 8.7% year-on-year in June [Note 2]. Influenced by the relatively high base in the

corresponding period of the previous year changes in the effects of certain consumption stimulus policies and increasingly rational consumer

decision-making the overall household appliance market gradually shifted from broad-based growth towards structural growth. Meanwhile

customers continue to favor household appliances featuring high energy efficiency environmental sustainability smart functions and

health-oriented designs. . The household appliance consumption exhibits the characteristics of pressure on overall demand and ongoing structural

upgrading.In the first half of 2026 the kitchen small household appliance industry entered a stage characterized by intensifying competition in the

existing market and an increasing emphasis on value-based competition. According to AVC retail sales of kitchen small household appliances

across all channels amounted to RMB 30.26 billion in the first half of 2026 representing a year-on-year decrease of 4.8%. Retail volume amounted

to 116.49 million units representing a year-on-year decrease of 14.6% and the market average selling price increased by 11.5% year-on-year to

RMB 260 [Note 3]. The decline in retail volume was significantly greater than the decline in retail sales reflecting a pronounced market trend of lower

sales volume accompanied by higher average selling prices. The industry has continued to shift from scale-driven growth towards value-driven

growth.[Note 1]: Preliminary Accounting Results of Gross Domestic Product for the Second Quarter and the First Half of 2026.-National Bureau of Statistics of China.[Note 2]: Total Retail Sales of Consumer Goods Increased by 1.3% in the First Half of 2026.-National Bureau of Statistics of China.[Note 3]: AVC

Adhering to a Health-Oriented Approach and Promoting the Visibility of Product Value

The Company consistently upholds its brand philosophy of “Joyful and Healthy Living” integrating healthy diets healthy materials and

healthy usage throughout its product development and innovation processes. In response to consumer demand for healthier materials enhanced

nutritional value improved taste quieter operation and convenient cleaning the Company continues to drive technological innovation toward

product experiences that users can directly perceive and appreciate.During the reporting period the Company launched a range of new products across its core categories including soy milk makers rice

cookers blenders and juicers. The K7 Pro Purple Flame Edition self-cleaning soy milk maker integrates washing and drying functions and a

titanium-infused inner chamber further enhancing the user experience in healthy beverage preparation automatic cleaning variable-frequency

quiet operation and smart interaction. The 40N1U Pro rice cooker incorporates upgraded technologies including a titanium-infused zero-coating

inner dual-drive induction heating and an air-cooled moisture-locking film achieving an optimal balance among a coating-free non-stick surface

healthy materials and premium rice taste. The Little Whirlwind PB-UL5B70 blender combines a multi-dimensional blade ultra-fine pulverization

and uniform simmering technologies to deliver finely blended beverages that can be consumed directly without filtering. While fully releasing the

nutritional value and rich flavour of ingredients the product also provides enhanced health and convenience through its titanium-infused

zero-coating design variable-frequency quiet operation and removable base for easy cleaning. The LZ9 juicer features a 150 mm wide feeding

chute a variable-frequency brushless motor smart adjustment low-speed grinding and pulp-juice separation. These features expand usage

scenarios for fresh fruit and vegetable beverages and refined nutritional management. These new products continue to advance the application of

healthier materials enhanced nutrition and taste smart control quiet operation and convenient cleaning across different product categories and

price segments. They further strengthen the Company’s product portfolio spanning flagship benchmark products and mainstream price segments

as well as traditional core categories and specialized health-focused usage scenarios.Through product innovation across different categories and price segments the Company continues to broaden the application of health

technologies and enhance the visibility perceptibility and understandability of product value further improving Joyoung’s professional brand image

and product competitiveness in the healthy small household appliance sector.

2Joyoung Co. Ltd. Abstract of the Semi-Annual report 2026

Advancing Space Technology Expanding Consumer Applications

Joyoung pioneered cooking in space for the first time. The Company has long undertaken research and development responsibilities relating

to China’s Space Kitchen project accumulating extensive technological experience in food heating and cooking drinking water supply and

operational reliability under complex conditions. Since entering China’s space station in 2021 the relevant equipment has provided reliable support

for astronauts’ in-orbit food preparation and water consumption needs achieving over 1800 days of fault-free operation. The Company has

comprehensively explored the application of technological achievements derived from space missions to consumer products. Through Space

Technology the Company continues to strengthen the technological identity of its products enhance the user experience and reinforce brand

differentiation.The Company has applied space-derived technologies to products including the Joyoung Tianjing heating water purifier the titanium-infused

non-stick zero-coating rice cooker and the self-cleaning low-purine soy milk maker. As industry competition shifts from the basic functionality

towards competition centred on quality and user experience the Company will continue to leverage the brand and technological advantages of

Space Technology and promote the extensive application of relevant technologies in healthy cooking water purification and smart small household

appliances.Deepening Omnichannel Operations Enhancing Consumer Reach

As retail channels continue to diversify online content platforms shelf e-commerce on-demand retail and offline experience channels are

becoming increasingly integrated resulting in more diversified consumer purchasing journeys. The Company actively promotes coordinated

development across online and offline channels. While consolidating its traditional e-commerce and offline channels the Company continues to

strengthen its operating capabilities in content commerce its self-operated livestreaming matrix on-demand retail and emerging specialized

channels.Through content platforms including Xiaohongshu Douyin and WeChat Channels the Company strengthens user research content creation

product education and scenario-based product demonstrations. With a focus on new and core products the Company carries out more targeted

content marketing to improve efficiency across the entire customer journey from initial product discovery and product awareness to purchase

conversion and sharing. The Company has continued to develop a livestreaming matrix centred on self-operated channels while promoting closer

coordination between online content platforms product operations and user engagement.During the reporting period based on the user profiles price ranges and consumption scenarios of different channels the Company

continued to optimize its product portfolio and resource allocation. Resources were increasingly directed towards core categories

essential-demand products and high-efficiency channels with the aim of improving channel operating quality and return on investment.

3. Core Competence Analysis

For details please refer to the 2025 Annual Report.

4. Key Accounting Data and Financial Indicators

Whether the Company performed a retroactive adjustment to or restatement of accounting data

□Yes √No

H1 2026 H1 2025 Flux

Operating revenues (RMB Yuan) 3489143150.73 3987012833.93 -12.49%

Net profits attributable to shareholders of the Company (RMB Yuan) 71773157.28 122731037.30 -41.52%

Net profits attributable to shareholders of the Company before

non-recurring gains and losses (RMB Yuan) 74428898.56 187047087.44 -60.21%

3Joyoung Co. Ltd. Abstract of the Semi-Annual report 2026

Net cash flow from operating activities (RMB Yuan) -52922249.86 331836708.69 -115.95%

Basic earnings per share (RMB Yuan /share) 0.10 0.16 -37.50%

Diluted earnings per share (RMB Yuan /share) 0.10 0.16 -37.50%

Weighted average return on net assets 2.11% 3.51% Decreased by 1.40 pct.As of 30 June As of 31 December

2026 2025 Flux

Total assets (RMB Yuan) 6978880327.89 7794224747.51 -10.46%

Net assets attributable to shareholders of the Company (RMB Yuan) 3237334614.75 3433241112.10 -5.71%

5. Number of Shareholders of the Company and Their Shareholdings

Unit: share

Total number of common shareholders at the

end of the Reporting Period 41195

Total number of preferred shareholders with resumed voting

rights at the end of the Reporting Period (if any) 0

Top 10 common shareholders（excluding lending and transfer of shares business）

Nature of Shareholding Total shares Number of Pledged or frozen sharesName of shareholder shareholder percentage held at the restrictedperiod-end shares held Status Number

Shanghai Lihong Enterprise Management Co. Domestic

Ltd. non-state-owned 50.40% 384523746 0 N/A 0corporation

JS Global Capital Management Limited Foreigncorporation 17.03% 129924090 0 N/A 0

Joyoung ESOP Plan (Phase 1) Others 2.01% 15313800 0 N/A 0

Joyoung ESOP Plan (2026) Others 1.40% 10710170 0 N/A 0

Hong Kong Securities Clearing Co. Ltd. Foreigncorporation 0.53% 4029694 0 N/A 0

CPIC-Dividend-Personal Dividend Others 0.40% 3045512 0 N/A 0

Yingxin Wang Domestic NaturalPerson 0.24% 1864800 0 N/A 0

Bank of China - GF CSI Pension Industry

Index Initiated Securities Investment Fund Others 0.24% 1846300 0 N/A 0

Zhenjun Jiang Domestic NaturalPerson 0.22% 1710100 0 N/A 0

Han Wei Domestic NaturalPerson 0.20% 1554900 0 N/A 0

In April 2019 the shareholding structure of BILTING DEVELOPMENTS LIMITED changed.MR. Xuning WANG the actual controller of the Company became the actual controller of

BILTING DEVELOPMENTS LIMITED (See Report No. 2019-027 of the Company on

www.chinainfo.com.cn.). As a result Shanghai Lihong Enterprise Management Co. Ltd. and

BILTING DEVELOPMENTS LIMITED both controlled by Mr. Xuning WANG are defined as

Related or acting-in-concert parties among acting-in-concert parties by the Administrative Measures for the Takeover of Listed Companies.shareholders above

Other than the aforementioned related and acting-in-concert parties the Company is uncertain

about whether there are related or acting-in-concert parties among shareholders above.In July 2024 BILTING DEVELOPMENTS LIMITED changed its name to JS Global Capital

Management Limited which is still a party acting in concert with the controlling shareholder of the

Company Shanghai Lihong Enterprise Management Co. Ltd. The aforementioned change does

4Joyoung Co. Ltd. Abstract of the Semi-Annual report 2026

not involve any equity change of the Company’s controlling shareholder and has no impact on the

Company's operating activities and there has been no change in the Company's controlling

shareholder and de facto controller.Explanation on common shareholders Zhenjun Jiang holds 0 shares of the Company through an ordinary securities account and

participating in securities margin trading (if 1710100 shares through a credit securities account with a total of 1710100 shares of the

any) Company.Shareholders holding more than 5% of shares top 10 shareholders and top 10 shareholders with non-restricted shares outstanding participating in

the lending and transfer of shares business

□ Applicable √ N/A

Top 10 shareholders and top 10 shareholders with non-restricted shares outstanding changed from the previous period due to lending/repatriation

in the lending and transfer of shares business

□ Applicable √ N/A

6. Change in Controlling Shareholders or Actual Controllers

Change in controlling shareholder during the reporting period

□Applicable √ N/A

There was no change in controlling shareholder of the Company during the reporting period.Change in actual controller during the reporting period

□Applicable √ N/A

There was no change in actual controller of the Company during the reporting period.

7. Total Number of Preferred Shareholders and TOP 10 Preferred Shareholders and Their Shareholdings

□Applicable √ N/A

The Company had no preferred shareholders holding shares during the reporting period.

8. Bonds in Existence at the Date of Approval for Filing of the Semi-annual Report

□Applicable √ N/A

Section III. Important Matters

There were no material changes in the Company's operating conditions during the Reporting Period. For details of matters during the

Reporting Period please refer to the Company's Semi-annual Report 2026.

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