Joyoung Co., Ltd. Interim Report of the First Quarter 2026
Ticker: 002242 Stock Abbreviation: Joyoung
Joyoung Co., Ltd.
Interim Report of the First Quarter 2026
The Company and all members of the Board of Directors have guaranteed that the information disclosed is true,
accurate and complete, and contains no false record, misleading statements or material omissions.
Important notes:
Board of Directors, all the directors and senior management staff of Joyoung Co., Ltd. (hereinafter referred to as the “Company”) have
guaranteed that this Report contains no false record, misleading statement or material omission and shall be jointly and severally liable for the
factuality, accuracy and completeness of the information given in this Report.
CEO of the Company, CFO of the Company, and Chief Accountant of Accounting Institution, declared that the quarterly financial statements
should be true, accurate and complete.
In case of any discrepancy, the Chinese version of the report shall prevail.
Whether the first quarterly report was audited
□ Yes √ No
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
I. Key Accounting Data and Financial Indicators
Whether the Company performed a retroactive adjustment to or restatement of accounting data
□Yes No
From 1 January 2026 to 31 From 1 January 2025 to 31
YoY Change(%)
March 2026 March 2025
Operating revenue (RMB) 1,811,739,072.65 1,999,944,950.10 -9.41%
Net Profit attributable to shareholders
of the Company (RMB)
Net profit attributable to shareholders of
the Company before non-recurring 81,085,913.91 106,503,121.32 -23.87%
gains and losses (RMB)
Net cash flows from operating activities
-124,513,989.16 245,581,933.84 -150.70%
(RMB)
Basic earnings per share (RMB / share) 0.11 0.14 -21.43%
Diluted earnings per share (RMB /
share)
Weighted average return on net
assets(%)
Total assets (RMB) 7,430,458,838.64 7,794,224,747.51 -4.67%
Net assets attributable to shareholders
of the Company (RMB)
√ Applicable □Not applicable
Unit: RMB
From 1 January
Item 2026 to 31 March Note
Profit or loss from disposal of non-current assets (including the write off of the provision for
-114,722.66
impairment of assets)
Government grants included in the current profit or loss (except for government grants that
are closely related to the Company's normal business operations, comply with national
policies, are enjoyed in accordance with determined standards, and have a continuous
impact on the company's profit and loss)
Gains or losses from changes in fair value arising from the holding of financial assets and Mainly due to changes
financial liabilities by non-financial enterprises, and gains and losses arising from the in the fair value of the
-3,659,310.48
disposal of financial assets and financial liabilities, excluding the effective hedging trust and fund products
business related to the Company’s normal business operations during this period.
Other non-operating income or expenses except the above items -850,954.80
Less: Impact of income taxes 606,836.70
Total 1,762,271.09 --
Other details of profit and loss items that meet the definition of non-recurring profit or loss
□ Applicable √ Not applicable
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
Not Applicable to the Company.
Explain the reasons if the Company classifies any non-recurring gain/loss item mentioned in the
Information Disclosure for Companies Offering Their Securities to the Public—Non-Recurring Gains and Losses> as a recurring gain/loss item
□ Applicable √ Not applicable
Not Applicable to the Company.
√ Applicable □Not applicable
Unit: RMB
Item 31 March 2026 31 December 2025 Flux(%) Notes
Mainly due to the payments for goods during the
Accounts Payable 988,938,429.29 1,509,032,583.11 -34.47%
current period.
Mainly due to the payment of year-end bonuses
Payroll payable 21,107,881.52 112,707,094.22 -81.27%
during the current period.
Non-current Liabilities Due within Mainly due to the payment of lease-related
One Year expenses during the current period.
Mainly due to foreign exchange fluctuations during
Other Comprehensive Income -32,575,550.05 729,415.64 -4565.98%
the current period.
From 1 January 2026 From 1 January 2025 to 31
Item YoY(%) Note
to 31 March 2026 March 2025
Mainly due to a decrease in tax payments during
Taxes and Surcharges 5,891,530.78 10,382,642.14 -43.26%
the current period.
Mainly due to foreign exchange fluctuations during
Finance Costs -14,642,796.10 -24,115,842.37 39.28%
the current period.
Mainly due to an increase in the additional VAT
Other Income 22,671,220.89 9,727,620.64 133.06%
deduction during the current period.
Mainly due to dividends received from funds during
Investment Income 5,055,465.66 496,580.43 918.06%
the current period.
Mainly due to a smaller decline in bad debt
Credit Impairment Losses 3,686,385.25 6,072,108.08 -39.29% provisions for accounts receivable during the
current period.
Mainly due to the provision for inventory
Asset Impairment Losses -2,135,669.27 2,424,846.25 -188.07%
impairment recognized during the current period.
Mainly due to a decrease in export tax rebates
Tax Refunds Received 21,786,906.28 45,831,270.20 -52.46%
received during the current period.
Cash Received relating to Other Mainly due to a decrease in the recovery of bill
Operating Activities margin deposits during the current period.
Mainly due to lower revenue in the current period
Net Cash Flows from Operating
-124,513,989.16 245,581,933.84 -150.70% leading to decreased cash receipts from sales and
Activities
a reduction in the recovery of bill margin deposits.
Cash Received relating to Other Mainly due to an increase in redemptions of wealth
Investing Activities management products during the current period.
Cash Received from Returns on Mainly due to dividends received from funds during
Investments the current period.
Cash Paid relating to Other Mainly due to an increase in the purchase of wealth
Investing Activities management products during the current period.
Cash Paid relating to Other Mainly due to the purchase of minority interests in
Financing Activities the prior period.
Effect of Exchange Rate
Mainly due to foreign exchange losses during the
Changes on Cash and Cash -32,618,403.43 3,819,423.47 -954.01%
current period.
Equivalents
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
II. Shareholder Information
of the top ten shareholders at the period-end
Unit: share
Total number of common shareholders at the end Total number of preferred shareholders with resumed
of the Reporting Period voting rights at the end of the Reporting Period (if any)
Top 10 shareholders（excluding lending and transfer of shares business）
Total shares Number of Pledged or frozen shares
Nature of Shareholding
Name of shareholder held at the restricted
shareholder percentage Status Number
period-end shares held
Shanghai Lihong
Domestic non-state-
Enterprise Management 50.40% 384,523,746 0 N/A 0
owned corporation
Co., Ltd.
JS Global Capital
Foreign corporation 17.03% 129,924,090 0 N/A 0
Management Limited
Joyoung ESOP Plan
Others 2.01% 15,313,800 0 N/A 0
(Phase 1)
Central Huijin Asset State-owned
Management Ltd. corporation
Hong Kong Securities
Foreign corporation 0.70% 5,307,412 0 N/A 0
Clearing Co., Ltd.
CPIC-Dividend-Personal
Others 0.40% 3,045,512 0 N/A 0
Dividend
Yingxin Wang Domestic Natural
Person
Industrial and
Commercial Bank of
China Limited –
Dacheng CSI 360 Others 0.23% 1,758,917 0 N/A 0
Internet Plus Big Data
Investment Fund
Zhenjun Jiang Domestic Natural
Person
Han Wei Domestic Natural
Person
Top 10 non-restricted shareholders
(excluding lending and transfer of shares business, excluding executive restricted shares)
Number of non-restricted Type of shares
Name of shareholder
shares held Type of shares Number
Shanghai Lihong Enterprise Management Co., Ltd. 384,523,746 RMB common stock 384,523,746
JS Global Capital Management Limited 129,924,090 RMB common stock 129,924,090
Joyoung ESOP Plan (Phase 1) 15,313,800 RMB common stock 15,313,800
Central Huijin Asset Management Ltd. 11,201,233 RMB common stock 11,201,233
Hong Kong Securities Clearing Co., Ltd. 5,307,412 RMB common stock 5,307,412
CPIC-Dividend-Personal Dividend 3,045,512 RMB common stock 3,045,512
Yingxin Wang 1,864,800 RMB common stock 1,864,800
Industrial and Commercial Bank of China Limited – Dacheng CSI
Zhenjun Jiang 1,710,100 RMB common stock 1,710,100
Han Wei 1,554,900 RMB common stock 1,554,900
In April 2019, the shareholding structure of BILTING
Related or acting-in-concert parties among shareholders above DEVELOPMENTS LIMITED changed. MR. Xuning WANG, the actual
controller of the Company, became the actual controller of BILTING
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
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 acting-in-concert parties
by the Administrative Measures for the Takeover of Listed Companies.
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 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.
Zhenjun Jiang holds 0 shares of the Company through an ordinary
Explanation on top 10 shareholders participating in securities margin
securities account and 1,710,100 shares through a credit securities
trading (if any)
account, with a total of 1,710,100 shares of the 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 √ Not applicable
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 √ Not applicable
□ Applicable √ Not applicable
III. Other Significant Events
□ Applicable √ Not applicable
IV. Quarterly Financial Statements
Prepared by: Joyoung Co., Ltd.
Unit: RMB
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
Item 31 March 2026 1 January 2026
Current assets:
Cash at bank and on hand 3,048,360,262.97 3,802,344,068.96
Deposit reservation for balance 0.00 0.00
Lending funds 0.00 0.00
Trading financial assets 626,098,615.25 0.00
Derivative financial assets 0.00 0.00
Notes receivable 363,476,234.69 474,242,692.64
Accounts receivable 753,740,771.72 844,530,212.00
Receivables financing 380,633,249.19 366,229,143.46
Prepaid expense 42,838,912.94 39,155,130.21
Premium receivable 0.00 0.00
Reinsurance accounts receivable 0.00 0.00
Provision of cession receivable 0.00 0.00
Other receivables 16,437,928.20 14,962,889.22
Including: Interest receivable 0.00 0.00
Dividend receivable 0.00 0.00
Redemptory monetary capital for sale 0.00 0.00
Inventories 545,638,348.15 536,531,279.01
Including: Data Resource 0.00 0.00
Contract assets 0.00 0.00
Holding assets for sale 0.00 0.00
Current portion of non-current assets 0.00 0.00
Other current assets 79,154,828.47 104,591,571.53
Total current assets 5,856,379,151.58 6,182,586,987.03
Non-current assets:
Issuance of loans and advances 0.00 0.00
Debt Investments 0.00 0.00
Other debt investments 0.00 0.00
Long-term receivables 11,863,000.00 11,863,000.00
Long-term equity investments 126,204,119.69 125,823,796.35
Investments in other equity instruments 278,946,595.38 282,857,131.24
Other non-current financial assets 210,736,614.88 216,690,768.42
Investment properties 105,091,692.56 107,968,662.27
Fixed assets 539,828,082.09 553,197,700.08
Construction in progress 1,302,140.69 1,077,254.78
Productive biological asset 0.00 0.00
Oil and gas assets 0.00 0.00
Right-of-use assets 15,846,020.23 21,809,903.49
Intangible assets 111,938,817.73 113,471,329.64
Including: Data Resource 0.00 0.00
Development expenditures 0.00 0.00
Including: Data Resource 0.00 0.00
Goodwill 0.00 0.00
Long-term prepaid expenses 1,566,895.40 1,654,874.93
Deferred tax assets 170,755,708.41 175,223,339.28
Other non-current assets 0.00 0.00
Total non-current assets 1,574,079,687.06 1,611,637,760.48
TOTAL ASSETS 7,430,458,838.64 7,794,224,747.51
Current liabilities:
Short-term borrowings 0.00 0.00
Loans from the central bank 0.00 0.00
Loans from other banks 0.00 0.00
Trading financial liabilities 0.00 0.00
Derivative financial liability 0.00 0.00
Notes payable 2,238,411,693.24 2,004,702,049.92
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
Item 31 March 2026 1 January 2026
Accounts payable 988,938,429.29 1,509,032,583.11
Unearned revenue 0.00 0.00
Contract liabilities 216,113,454.11 227,229,133.62
Financial assets sold for repurchase 0.00 0.00
Deposits from customers and interbank 0.00 0.00
Receivings from vicariously traded securities 0.00 0.00
Receivings from vicariously sold securities 0.00 0.00
Payroll payable 21,107,881.52 112,707,094.22
Tax payable 18,219,574.77 25,623,201.76
Other payables 223,961,854.32 220,521,260.97
Including: Interest payable 0.00 0.00
Dividend payable 0.00 0.00
Handling fees and commissions payable 0.00 0.00
Dividend payable for reinsurance 0.00 0.00
Holding liabilities for sale 0.00 0.00
Current portion of non-current liabilities 13,024,406.42 19,396,898.18
Other current liabilities 31,973,618.38 45,623,089.36
Total current liabilities 3,751,750,912.05 4,164,835,311.14
Non-current liabilities
Reserve fund for insurance contracts 0.00 0.00
Long-term borrowings 0.00 0.00
Bonds payable 0.00 0.00
Including: Preferred stock 0.00 0.00
Perpetual bonds 0.00 0.00
Lease liabilities 2,414,221.53 3,085,096.72
Long-term payables 0.00 0.00
Long-term payroll payable 0.00 0.00
Accrued liabilities 3,419,421.82 3,292,941.91
Deferred income 4,948,914.18 6,762,106.67
Deferred tax liabilities 12,047,704.88 12,121,387.95
Other non-current liabilities 0.00 0.00
Total non-current liabilities 22,830,262.41 25,261,533.25
Total liabilities 3,774,581,174.46 4,190,096,844.39
Shareholders’ equity
Share capital 763,017,000.00 763,017,000.00
Other equity instruments 0.00 0.00
Including: preferred stock 0.00 0.00
Perpetual bond 0.00 0.00
Capital surplus 577,166,604.99 576,383,424.77
Less: Treasury stock 0.00 0.00
Other comprehensive income -32,575,550.05 729,415.64
Special reserve 0.00 0.00
Surplus reserve 397,820,873.71 397,820,873.71
General risk reserve 0.00 0.00
Undistributed profits 1,778,138,582.98 1,695,290,397.98
Total equity attributable to shareholders of the Company 3,483,567,511.63 3,433,241,112.10
Minority interests 172,310,152.55 170,886,791.02
Total shareholders’ equity 3,655,877,664.18 3,604,127,903.12
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 7,430,458,838.64 7,794,224,747.51
Legal representative: Ningning Yang Principal in charge of accounting: Jiangang Kan Head of accounting department: Wen Guo
Unit: RMB
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
For the three months For the three months
Item
ended 31 March 2026 ended 31 March 2025
Total revenue 1,811,739,072.65 1,999,944,950.10
Including: Operating revenue 1,811,739,072.65 1,999,944,950.10
Interest income 0.00 0.00
Earned Premium 0.00 0.00
Handling fees and commission income 0.00 0.00
Total operating cost 1,747,208,004.04 1,898,015,747.70
Including: Cost of sales 1,366,337,768.65 1,473,441,186.62
Interest expense 0.00 0.00
Handling fees and commission expenses 0.00 0.00
Surrender value 0.00 0.00
Net payments for insurance claims 0.00 0.00
Net provision for insurance liability 0.00 0.00
Bond insurance expense 0.00 0.00
Amortized Reinsurance Expenditures 0.00 0.00
Taxes and surcharges 5,891,530.78 10,382,642.14
Selling and distribution expenses 240,063,806.45 262,541,273.56
General and administrative expenses 80,707,379.60 87,665,909.91
Research and development expenses 68,850,314.66 88,100,577.84
Financial income -14,642,796.10 -24,115,842.37
Including: Interest expenses 171,599.30 269,248.04
Interest income 19,409,837.64 21,551,638.45
Add: Other income 22,671,220.89 9,727,620.64
Investment income/(loss) 5,055,465.66 496,580.43
Including: Investment income from associates and joint ventures 380,323.34 323,027.43
Profits or losses arising from derecognition of financial
assets measured at amortized costs
Foreign exchange gains/(losses) 0.00 0.00
Net exposure to hedging gains/(losses) 0.00 0.00
Gains/(Losses) on changes in fair value -5,167,119.80 -6,266,325.65
Credit impairment losses 3,686,385.25 6,072,108.08
Asset impairment losses -2,135,669.27 2,424,846.25
Gain on disposal of assets 0.00 199,100.16
Operating profit 88,641,351.34 114,583,132.31
Add: Non-operating income 788,647.38 662,808.61
Less: Non-operating expenses 1,754,324.84 2,267,459.89
Total profit 87,675,673.88 112,978,481.03
Less: Income tax expenses 3,404,127.35 11,997,076.50
Net Profit 84,271,546.53 100,981,404.53
(1) Classified by continuity of operations
Net profit from continuing operations 84,271,546.53 100,981,404.53
Net profit from discontinued operations 0.00 0.00
(2) Classified by ownership of the equity
Attributable to shareholders of the Company 82,848,185.00 101,488,347.36
Minority interests 1,423,361.53 -506,942.83
Other comprehensive income, net of tax -33,304,965.69 -2,316,273.70
Other comprehensive income attributable to equity owners of the Company, -30,485,365.73 -2,316,273.70
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
For the three months For the three months
Item
ended 31 March 2026 ended 31 March 2025
net of tax
(1) Other comprehensive income items which will not be reclassified
-3,910,535.86 -479,822.65
subsequently to profit or loss
under the equity method
(2) Other comprehensive income items which will be reclassified
-26,574,829.87 -1,836,451.05
subsequently to profit or loss
the equity method
Other comprehensive income attributable to minority shareholders, net of tax -2,819,599.96 0.00
Total comprehensive income 50,966,580.84 98,665,130.83
Attributable to equity owners of the Company 52,362,819.27 99,172,073.66
Attributable to minority interests -1,396,238.43 -506,942.83
Earnings per share:
(1) Basic earnings per share 0.11 0.14
(2) Diluted earnings per share 0.11 0.14
In the case of a business combination under the same control in the current period, the net income realized by the party being consolidated
before the combination was: RMB 0.00, and the net income realized by the party being consolidated in the previous period was: RMB 0.00.
Legal representative: Ningning Yang Principal in charge of accounting: Jiangang Kan Head of accounting department: Wen Guo
Unit: RMB
For the three months ended For the three months ended
Item
Cash received from sales of goods or rendering of services 2,175,275,672.82 2,359,895,738.59
Net increase in customer deposits and deposits from banks and
other financial institutions
Net decrease in deposits with the Central Bank 0.00 0.00
Net decrease in deposits with other financial institutions 0.00 0.00
Cash received from premiums of original insurance contracts 0.00 0.00
Net cash received from reinsurance operations 0.00 0.00
Net increase in policyholders' savings and investment funds 0.00 0.00
Cash received from interest, fee and commission 0.00 0.00
Net increase in borrowed funds 0.00 0.00
Net increase in funds for repurchase operations 0.00 0.00
Net cash received from agency purchases and sales of securities 0.00 0.00
Refund of taxes and surcharges 21,786,906.28 45,831,270.20
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
For the three months ended For the three months ended
Item
Cash received relating to other operating activities 290,184,717.58 423,609,123.09
Sub-total of cash inflows 2,487,247,296.68 2,829,336,131.88
Cash paid for goods and services 1,837,256,008.27 1,640,925,569.37
Net increase in loans and advances to customers 0.00 0.00
Deposits from banks and other financial institutions 0.00 0.00
Cash payment of benefits from the original insurance contract 0.00 0.00
Net increase in funds removed 0.00 0.00
Cash paid for interest, fee and commission 0.00 0.00
Cash paid as policy dividends 0.00 0.00
Cash paid to and on behalf of employees 253,324,936.55 225,579,185.12
Payments of taxes and surcharges 32,595,921.17 43,934,221.63
Cash paid relating to other operating activities 488,584,419.85 673,315,221.92
Sub-total of cash outflows 2,611,761,285.84 2,583,754,198.04
Net cash flows from operating activities -124,513,989.16 245,581,933.84
Cash received from disposal of investments 800,000.00 227,600.00
Cash received from returns on investments 3,576,527.07 173,553.00
Net cash received from disposal of fixed assets, intangible assets
and other long-term assets
Net cash received from disposal of subsidiaries and other business
units
Cash received relating to other investing activities 784,812,098.34 181,293,656.31
Sub-total of cash inflows 789,188,625.41 182,159,187.19
Cash paid to acquire fixed assets, intangible assets and other
long-term assets
Cash paid to acquire investments 0.00 0.00
Net increase in pledged loans 0.00 0.00
Net cash paid to acquire subsidiaries and other business units 0.00 0.00
Cash paid relating to other investing activities 1,670,626,844.01 35,062,892.99
Sub-total of cash outflows 1,671,338,133.09 38,069,806.35
Net cash flows from investing activities -882,149,507.68 144,089,380.84
Cash received from capital contributions 0.00 0.00
Including: Cash received from capital contributions by minority
shareholders of subsidiaries
Cash received from borrowings 0.00 0.00
Cash received relating to other financing activities 0.00 0.00
Sub-total of cash inflows 0.00 0.00
Cash repayments of borrowings 0.00 0.00
Cash payments for interest expenses and distribution of dividends
or profits
Including: Cash payments for dividends or profit to minority
shareholders of subsidiaries
Cash payments relating to other financing activities 8,022,183.57 33,492,246.11
Sub-total of cash outflows 8,022,183.57 33,492,246.11
Net cash flows from financing activities -8,022,183.57 -33,492,246.11
-32,618,403.43 3,819,423.47
and cash equivalents
Add: Cash and cash equivalents at the beginning of the period 3,379,483,355.79 2,309,238,593.71
Joyoung Co., Ltd. Interim Report of the First Quarter 2026
accounting standards from 2026 onwards
□ Applicable √ Not applicable
Whether the first quarterly report was audited
□ Yes √ No
The first quarterly report was not audited.
Joyoung Co., Ltd. Board of Directors
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