JM Group Ltd (NYSE: JMG)

JM Group is a Hong Kong headquartered sourcing solutions provider. The company sources and wholesales a wide array of products across eight major categories including sports and outdoor recreation toys and games seasonal décor and party supplies home and tools school office and art supplies clothing shoes and accessories personal care products and pet products. In addition to sourcing JM Group offers value added services such as market and industry research trend analysis product and packaging design and quality control to support customers throughout the product creation development production and delivery cycle. The firm operates primarily from its headquarters in Hong Kong and serves customers in North America Asia and other regions. The firm was founded with the goal of providing consumers with better lifestyle choices through access to innovative and affordable products sourced from global manufacturers.

Revenue is generated principally from the sale of sourced products to retailers distributors and brand owners. The company does not treat its value added services as separate revenue streams but relies on them to strengthen customer relationships and enhance product offerings. Sales are made directly to customers and through a third party United States sales agent who markets the goods to US retailers on behalf of JM Group. The majority of sales come from the United States followed by Hong Kong Mexico and Australia. Revenue streams are diversified across the eight product categories with the largest contributions coming from sports and outdoor recreation toys and games seasonal décor and party supplies and clothing shoes and accessories.

The company operates through the following segments. Each segment is managed separately to allow focused attention on product development and customer service.

• Sports and outdoor recreation products include items such as water gun umbrella pool volleyball athletic equipment and accessories.

• Toys and games consist of moji tub high bounce putty tub acoustic guitar giant water wiggle neon flexible tract set basic helicopter prepack high mist car building block set fighting robot squeeze balloon dog cowbell desktop bell desktop gong triangle megaphone claw machine dino loop track set standing football table.

• Seasonal décor and party supplies cover Easter Halloween and Christmas decorations such as basket bucket plastic grass tinsel garland tinsel and disco wreath Christmas trees knit stocking coir mat skull candy candle holder mascot mask banner poly and holiday characters ornaments led hanging globe plastic skeleton figures.

• Home and tools comprise trapezoid PVC bin coiled lanyard ceramic pot table desk basket mirror hanging shelf wood crate chalkboard tray cabinet and similar household items.

• School office and art supplies feature desktop draw board bucket bundle of chalk portable easel set color pencils clipboard 2 in 1 drawing board wheat plastic pen journals filler paper bucket bundle chalk set color pencils portable double magnetic art easel and lava pen.

• Clothing shoes and accessories consist of tote bags suitcases and various fabric items.

• Personal care products include cosmetic brushes baby and adult diapers adult incontinence and postpartum underwear water bottle shampoo and conditioner.

• Pet products consist of pet wagons and strollers pet pools pet houses and other essential supplies for pet care.

JM Group competes with other sourcing and wholesaling firms that have design and development capabilities and work with manufacturers in mainland China and Southeast Asia. The company differentiates itself through well established relationships with its customers deep technical expertise in product design and an integrated collaboration process that links idea creation design production and delivery. A strong quality assurance system that includes internal inspections third party testing and strict supplier standards further supports its competitive position. These strengths enable JM Group to offer customized products reliable delivery and favorable pricing in a crowded market. The company also benefits from a flexible supply chain that enables rapid response to changing consumer preferences and seasonal demand patterns.

The company serves retailers distributors and brand owners located primarily in the United States Hong Kong Mexico and Australia. For the fiscal years ended September 30 2024 and 2025 the top five customers accounted for 97 1 percent and 97 4 percent of total revenue respectively. Specific named customers include 1616 Holdings Inc a distributor that is a wholly owned subsidiary of the US based discount retailer Five Below and Harvest Giant Inc Limited a textile manufacturing sourcing and procurement company based in Hong Kong. Sales to these two customers represented approximately 66 9 percent and 23 8 percent of revenue for the year ended September 30 2025. This geographic mix reduces reliance on any single market and supports steady growth across different regions.