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HONG KONG, Apr 13, 2026 - (ACN Newswire via SeaPRwire.com) - JS Global Lifestyle Company Limited (Stock Code: 1691.HK) ("JS Global" or the "Company") has announced its annual results for 2025 – a period in which it has demonstrated a strong recovery in core operations. Although reported profit was affected by non-recurring items, adjusted net profit surged 338.0% year-on-year to US$31.0 million, significantly exceeding market expectations and marking a clear inflection point in the Company's profit recovery.In 2025, the Company's total revenue reached US$1.66 billion, representing a year-on-year increase of 4.1%. Gross profit margin improved by 0.2 percentage points to 32.2%, reflecting ongoing optimization of product mix and operational efficiency. Revenue from third parties grew 14.8% year-on-year to US$1.565 billion, with both business segments delivering strong performance: the Joyoung segment saw third-party revenue stabilize and recover, with profit improvement accelerating; the SharkNinja APAC segment recorded third-party revenue of US$533 million, up 55.6% year-on-year, and continued serving as the Company's core growth engine. Within this segment, revenue in Australia and New Zealand grew 73.2% year-on-year to US$255 million, driven notably by new product categories such as ice-cream makers, frozen drink makers and coffee machines. Revenue in Japan increased 41.2% year-on-year to US$158 million, supported by the strong sales performance of key products, including lightweight cordless vacuum cleaners and smart blenders. Both regions benefited from the Company's ongoing new product launches and enhanced brand recognition, with the expansion strategy continuing to deliver favorable results.The Company has stated that, excluding the impact of one-off or non-operating items, operating profit has already improved substantially. With further optimization of selling and administrative expense ratios, the Company's earnings resilience is expected to be bolstered further in 2026.Several financial institutions have issued research notes highlighting JS Global’s currently positive trajectory, the consequence of "Joyoung profit recovery + SharkNinja APAC scale expansion". Huatai Securities maintains a "Buy" rating with a target price of HK$2.38, while Guotai Haitong Securities has assigned an "Overweight" rating, expressing confidence in the Company's medium-term profit resilience. The Company's management has affirmed its commitment to continue driving product innovation and global market expansion, and delivering sustainable growth value to shareholders. Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

香港, 2026年4月13日 - (亞太商訊 via SeaPRwire.com) - JS環球生活有限公司（「JS環球生活」或「公司」）（股份編號：1691.HK）發佈2025年全年業績，核心經營層面呈現強勁修復勢頭。儘管報表利潤受非經常性項目擾動，但經調整凈利潤同比飆升338.0%至3,100萬美元，顯著超越市場預期，標誌著公司盈利修復拐點已至。2025年，公司實現營業總收入16.60億美元，同比增長4.1%；毛利率提升0.2個百分點至32.2%，產品結構與經營效率持續優化。公司第三方收入同比增長14.8%至15.65億美元，兩大業務板塊表現亮眼：九陽分部第三方收入企穩回升，盈利改善邏輯加速兌現；SharkNinja亞太分部第三方收入同比高增55.6%至5.33億美元，繼續擔當公司增長核心引擎，其中澳新市場收入同比增長73.2%至2.55億美元，冰淇淋機、冷飲機及咖啡機等新品類增長尤為突出，日本市場收入同比增長41.2%至1.58億美元，輕量化無繩吸塵器、智能攪拌機等優勢產品表現強勁，兩大區域均受益於公司持續的新品投放與品牌認知提升，擴張策略持續兌現。公司表示，剔除一次性或非經營性項目影響，公司經營利潤已實現實質性改善。隨著管理和銷售費用率優化，公司盈利彈性有望在2026年進一步釋放。多家機構發佈點評指出，JS環球生活當前正處於「九陽利潤修復+SharkNinja亞太規模擴張」的良性通道。華泰證券維持「買入」評級，目標價2.38港元；國泰海通給予「增持」評級，看好公司中期利潤彈性。公司管理層表示，將持續推進產品創新與全球市場拓展，致力於為股東創造可持續增長價值。 Copyright 2026 亞太商訊 via SeaPRwire.com. All rights reserved. www.acnnewswire.com

HONG KONG, Apr 13, 2026 - (ACN Newswire via SeaPRwire.com) - This article serves as a foundational study for the Noah Medical deep-dive series, aiming to help investors establish a core framework for assessing value in the medical robotics industry.As the medical robotics sector continues to gain momentum, market discussion tends to center on technical specifications and commercialization progress. Yet from a long-term investment perspective, these dimensions alone cannot explain the divergence in value among companies. What truly determines a medical robotics company's long-term worth is not the technology itself—but the level of clinical problem it solves.The global medical robotics market is projected to grow from roughly USD 70–80 billion in 2023 to over USD 200 billion by around 2030, representing a compound annual growth rate above 15%. More notable, however, is the structural shift underway: the industry's core growth driver is moving rapidly from the "surgical execution end" toward the "diagnostic gateway"—that is, earlier disease detection and more accurate early-stage diagnosis and intervention. Competition around device performance is giving way to competition around solving clinical problems themselves.I. A Three-Tier Value Framework: Problem Level Determines Long-Term UpsideAt its core, medical innovation addresses clinical problems that can be organized into three progressive tiers:- Tier 1: Can it be done at all? — Procedures that were previously infeasible or unreliable, representing breakthroughs in clinical capability.- Tier 2: Can it be done faster? — Corresponding to efficiency gains.- Tier 3: Can it be done more affordably? — Corresponding to cost optimization.Most medical robotics innovation today remains concentrated in the latter two tiers—essentially extending existing clinical capabilities. The truly scarce and defensible direction is Tier 1: using technology to make previously unachievable medical procedures safe and accurate, thereby creating breakthrough clinical value.This logic has been validated repeatedly. The da Vinci Surgical System, with a global installed base exceeding 8,000 units and over 2 million annual procedures, owes its sustained high gross margins and steady growth to one thing: its irreplaceable ability to enable complex minimally invasive surgeries that could not otherwise be performed. The same principle applies to TAVR and electrophysiology ablation—each opened new markets by establishing entirely new clinical capabilities.Companies that solve "can it be done at all" typically enjoy higher technological barriers, stronger pricing power, longer product lifecycles, and more pronounced valuation premiums.II. An Overlooked Capability Gap: From Detection to DiagnosisThis framework is particularly clear in lung cancer care. Lung cancer remains one of the most prevalent and lethal malignancies worldwide, with over 2.2 million new cases and nearly 1.8 million deaths annually—accounting for more than 18% of all cancer-related mortality.In recent years, the widespread adoption of low-dose CT screening (LDCT) has dramatically improved our ability to detect problems, with pulmonary nodule detection rates reaching 20–30% among high-risk populations. Diagnostic capability, however, has not kept pace—and has instead become a new systemic bottleneck.Consider the challenge of peripheral lung nodules: over 65% of pulmonary nodules are located in the lung periphery, where conventional bronchoscopes face clear limitations in reaching deep-seated lesions. Compounding this, dynamic discrepancies between preoperative CT imaging and the patient's actual respiratory state introduce widespread localization errors in clinical practice.This is not an efficiency problem. It is a capability that has yet to be established. How to reliably access targets within complex pulmonary anatomy, and how to achieve precise localization in a dynamically shifting environment—these capabilities directly determine diagnostic accuracy and safety. They represent a textbook "capability-gap opportunity."For investors, such opportunities share distinct hallmarks: well-defined demand, clear pain points, and high technological barriers. Once a breakthrough is achieved, it typically produces durable competitive moats and extended growth cycles.III. Noah Medical: A Strategic Entry Through the Capability GapAs the industry migrates from "efficiency optimization" to "capability creation," Noah Medical has chosen to enter precisely through the capability gap described above—targeting the core challenge of the confirmatory diagnosis stage in early lung cancer detection, and using technology to enhance lesion access and localization, completing a critical missing link in the diagnostic chain.The technological foundation of this approach lies in the deep integration of real-time image-based localization, AI, and robotic control systems. The Galaxy system dynamically corrects discrepancies between imaging and the patient's anatomy during the procedure, delivering higher-precision lesion localization in complex environments. This is the single most critical technical challenge in diagnosing peripheral lung nodules today.Core Clinical DataSince receiving FDA clearance in 2023, the Galaxy system has been used in over 10,000 clinical procedures across an installed base of more than 50 systems. Robotic navigational bronchoscopy diagnostic yield exceeds 90–93%, with a lesion localization success rate of approximately 96% and a low complication rate, demonstrating a strong safety profile. In the robotic bronchoscopy segment for pulmonary applications, Galaxy holds roughly 5% market share and remains in a phase of rapid growth.From a market standpoint, the global natural orifice surgical robotics market is expected to surpass USD 80 billion, with the lung cancer biopsy sub-segment alone representing approximately USD 6 billion. China's surgical robotics market is projected to sustain a 30–36% compound annual growth rate over the coming years, with select early-stage innovative sub-segments growing even faster. More critically, the shift toward non-invasive approaches is continuously expanding the addressable patient population—patients previously excluded due to procedural risk or diagnostic difficulty are steadily entering the diagnosable and treatable pool.The core value of Noah Medical's chosen path lies in combining assured demand with room for expansion: on one hand, lung cancer diagnosis and treatment represents a large and steadily growing base of inelastic clinical need; on the other, the precision access and localization capabilities built on the natural orifice approach carry platform potential for replication across other specialties.Noah Medical is not positioned in a single-product niche. It sits along a capability pathway with the potential for progressive, multi-specialty expansion.ConclusionThe investment logic of medical robotics ultimately comes down to a judgment about problem hierarchy. Amid similar levels of technological excitement and market narrative, the companies that choose to tackle clinical problems not yet effectively solved—and that create new medical capabilities through technology—are the ones most likely to deliver true long-term structural value.Noah Medical is a representative company worthy of sustained attention within this framework. Subsequent articles in this series will further examine its technology pathway, clinical evidence, and commercialization trajectory.— This is the first article in the Noah Medical deep-dive research series Copyright 2026 ACN Newswire via SeaPRwire.com. All rights reserved. www.acnnewswire.com

香港, 2026年4月13日 - (亞太商訊 via SeaPRwire.com) - 本文系 Noah Medical 系列深度報告的鋪墊性研究，旨在幫助投資者建立醫療機器人行業的核心價值判斷框架在醫療機器人賽道持續升溫的當下，市場的討論往往聚焦於技術參數與商業化進展。然而，從長期投資視角來看，這些維度並不足以解釋企業之間的價值分化。真正決定一家醫療機器人公司長期價值的，是其所解決的臨床問題的層級--而非技術本身。全球醫療機器人市場規模預計從2023年約700至800億美元，增長至2030年前後的2000億美元以上，年複合增速超過15%。更值得關注的是結構性變化：行業的核心增量正加速從「手術執行端」轉移至「診療入口端」，即更早發現疾病、更準確完成早期診斷與介入。圍繞設備性能的競爭，正在讓位於圍繞「解決臨床問題本身」的競爭。一、三層價值邏輯：問題層級決定長期空間拆解醫療創新的本質，臨床問題可分為三個遞進層級：第一層：能不能做--原本難以實現或穩定性不足的醫療行為，對應臨床能力的突破；第二層：做得快不快--對應效率提升；第三層：做得便不便宜--對應成本優化。當前大多數醫療機器人公司的創新仍集中於後兩個層級，本質是對既有醫療能力的延伸。真正稀缺且具備長期壁壘的方向，是切入第一層--通過技術手段，使原本難以完成的醫療行為能夠被安全、準確地實現，從而創造突破性的臨床價值。這一邏輯已被行業反覆驗證。達芬奇手術系統全球裝機量超過8000台、年手術量超過200萬例，其長期高毛利率與穩定增長，核心源於其在複雜微創手術中無可替代的「能力替代性」。TAVR、電生理消融等技術同理--均是通過建立新的臨床能力開闢新的市場空間。解決「能不能做」的公司，通常具備更高的技術門檻、更強的定價能力、更長的產品生命週期，以及更顯著的估值溢價。二、被忽視的臨床能力缺口：從「發現」到「確診」這一框架，在肺癌診療領域尤為清晰。肺癌是全球發病率與死亡率最高的惡性腫瘤之一，每年新增病例超過220萬，死亡人數接近180萬，佔全部癌症死亡的18%以上。近年來，低劑量CT篩查（LDCT）的普及顯著提升了「發現問題」的能力--高風險人群中肺結節檢出率可達20%至30%。然而，確診能力並未同步提升，反而成為新的系統性瓶頸。在肺外周結節場景中，超過65%的肺結節位於肺外周區域，傳統支氣管鏡觸達深部病灶的成功率存在明顯局限。同時，術前CT影像與患者實際呼吸狀態之間的動態差異，導致定位誤差在臨床實踐中普遍存在。這不是效率問題，而是能力尚未建立的問題。如何在複雜肺部結構中實現穩定觸達、如何在動態環境中完成精準定位--這些核心能力直接決定診斷準確性與安全性，構成典型的「能力缺口型機會」。對投資者而言，這類機會具有明顯特徵：需求確定、痛點清晰、技術門檻高，一旦突破，往往形成持久壁壘與更長的增長週期。三、Noah Medical：切入能力缺口的戰略選擇在行業從「效率優化」向「能力創造」遷移的過程中，Noah Medical選擇從上述能力缺口切入，聚焦於肺癌早診過程中確診環節的核心問題，通過技術手段提升病灶觸達與定位能力，補齊診斷鏈條的關鍵一環。這一路徑的技術基礎，在於影像實時定位、AI與機器人控制系統的深度融合。Galaxy系統能夠在手術過程中動態修正影像與人體之間的偏差，實現複雜環境下更高精度的病灶定位--這正是當前肺外周結節診斷中最關鍵的技術難點。核心臨床數據Galaxy系統自2023年獲FDA批准以來，已累計完成超過10,000例臨床手術，裝機量超過50台；機器人導航支氣管鏡診斷率可達90%至93%以上，病灶定位成功率約96%，併發症發生率低，安全性表現良好。在同類肺部機器人支氣管鏡領域，市場份額約5%，仍處於高速增長階段。從市場空間來看，全球自然腔道手術機器人市場規模預計超過800億美元，其中肺癌活檢細分市場約60億美元。中國手術機器人市場預計未來數年保持30%至36%的複合增長率，而部分早期創新細分賽道增速更高。更關鍵的是，無創化技術路徑正在持續擴大潛在診療人群--原本因創傷風險或診療難度被排除在外的患者，正逐步進入可診斷與可治療範圍。Noah Medical所選擇路徑的核心價值，在於兼具「確定性需求」與「擴展性空間」：一方面，肺癌診療對應龐大且持續增長的剛性臨床需求；另一方面，基於自然腔道路徑所建立的精準觸達與定位能力，具備向其他科室複製拓展的平台潛力。Noah Medical所處的，並非單點產品賽道，而是一條有望逐步延伸的能力路徑。結語醫療機器人行業的投資邏輯，本質是一場「問題層級」的判斷。在同樣的技術熱度與市場敘事之下，那些選擇切入尚未被有效解決的臨床問題、並通過技術創造新增醫療能力的企業，往往才是真正具備長期結構性價值的投資標的。Noah Medical正是在這一框架下值得持續關注的代表性公司。後續系列文章，將進一步拆解其技術路徑、臨床數據與商業化進展。- 本文為 Noah Medical 系列深度研究第一篇 Copyright 2026 亞太商訊 via SeaPRwire.com. All rights reserved. www.acnnewswire.com