JS GLOBAL LIFE (01691) issues profit warning: It is expected that the annual profit from continuing operations will decrease by no more than 88.5% year-on-year.

JS GLOBAL LIFE (01691) announces that the group expects the profit from its continuing operations in the fiscal year 2024 to be no less than $8.1 million USD (for the year ended December 31, 2023 (restated): $70.3 million USD), a decrease of no more than 88.5% compared to the previous year. The expected decrease in profit from continuing operations in the fiscal year 2024 is mainly attributable to: the group's active investments in technological innovation, new product development, and the construction and promotion of high-end brands in the Chinese market, leading to increased related expenses. The main business sectors related to these investments are still in the early stages of development, which has a negative impact on the group's performance in the Chinese market in the fiscal year 2024; and the group's continuous increase in sales costs and administrative expenses in the fiscal year 2024 to expand its business in the Asia-Pacific market, including but not limited to strengthening brand image and consumer awareness, promoting core products and new products, improving omni-channel distribution capabilities, increasing sales and administrative personnel, and so on.