Joy Spreader Experiences Higher-than-expected Growth of its International E-commerce Business, Achieving Sales of Over HK$1 Billion in 1H 2022

BEIJING, Sept. 2, 2022 /PRNewswire/ -- On August 31, 2022, Joy Spreader Group Inc. ("Joy Spreader" or the "Company", Stock Code: 06988.HK), a leader in new media performance-based marketing, announced its interim results for 2022. The results show that Joy Spreader achieved revenue of HK$1.367 billion, an increase of 118.91% YoY. Notably, the international e-commerce business maintained strong momentum with sales reaching HK$1.021 billion in the first half of 2022, exceeding the expected full-year sales target of HK$1 billion for 2022 that was announced by the company at the press conference when delivering the annual financial results for 2021.

Driven by the continuous evolution of mobile technologies, improvements in the manufacturing of consumer electronics and an increase in personal income, the consumer electronics sector has continued to grow steadily over the past few years. According to data from Statista, the global consumer electronics sector is expected to reach US$1.11 trillion in 2023, with the Southeast Asian e-commerce market anticipated to expand by some US$100 billion, opening up more opportunities for e-commerce platforms. Furthermore, research firm E-Conamy predicts that five Southeast Asian countries, including Indonesia, Malaysia, Thailand and Vietnam, will rank among the world's top ten fastest-growing consumer electronics e-commerce markets in 2022.

Joy Spreader has launched e-commerce services in several Southeast Asian countries and plans to enter other world markets, including Europe, South America and the Middle East. The Group also plans to further expand its sales network and international e-commerce portfolio while improving its supply chain system in addition to extending the entire industry chain from products to sales, with the aim of creating an independent, direct-to-consumer (DTC) and consumer electronics-focused e-commerce platform that can compete in global markets.

Given the huge potential and promising prospects for the global consumer electronics market with an estimated size in excess of US$1 trillion, Joy Spreader's international e-commerce business is well-positioned for substantial growth. Thanks to the Group's first-mover advantage in tandem with its strong competence in technology and supply chain integration, the international e-commerce service is expected to maintain strong growth.

SOURCE Joy Spreader Group Inc.