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Joyoung posts first negative operating cash flow since listing, with performance declining for six consecutive years
Joyoung released its 2026 interim report, showing negative operating cash flow for the first time since listing. First-half revenue was 3.489 billion yuan, down 12.49 percent year on year. Net profit attributable to the parent company was 71.7732 million yuan, down 41.52 percent. Net cash flow from operating activities swung from 332 million yuan in the same period of 2025 to negative 52.9222 million yuan, a decline of more than 115 percent. Since 2021, the company's performance has declined for the sixth consecutive year, and its share price has fallen more than 80 percent from its 2021 peak. Industry data show that in the first half of 2026, omni-channel retail sales of small kitchen appliances reached 30.26 billion yuan, down 4.8 percent year on year, with retail volume of 116 million units, down 14.6 percent. The average market price was 260 yuan, up 11.5 percent year on year, showing a pattern of shrinking volume and rising prices. Joyoung faces challenges including stock competition in the industry, cut-throat competition, a single product structure, and lagging transformation. Its revenue and profit declines are significantly larger than those of competitors such as Supor.