JM Group is a Hong Kong-based product sourcing and wholesale intermediary. The company sources consumer goods from manufacturers in mainland China and Southeast Asia, then resells them to retailers, distributors, and brand owners — primarily in the U.S. and Hong Kong. JM Group does not manufacture anything itself; it acts as a middleman that identifies products, refines designs, manages quality control, and delivers finished goods. Its eight product categories include sports and outdoor recreation, clothing and accessories, seasonal décor, toys and games, home goods, personal care, school and office supplies, and pet products — with sports and outdoors (31% of FY25 revenue), clothing and accessories (26%), seasonal décor (16%), and toys and games (13%) making up roughly 86% of revenue. JM Group's business model is simple: buy from manufacturers at wholesale cost, resell at a markup. It bundles value-added services like product design, prototyping, and packaging into customer relationships rather than charging separately. The company also makes upfront payments for raw materials on behalf of manufacturers to secure production. The business is asset-light, operating from a single leased office in Kowloon with only 20 employees. Customer concentration is extreme — the top two customers, Five Below subsidiary 1616 Holdings (~67% of revenue) and Hong Kong textile sourcing firm Harvest Giant (~24%), together represent roughly 90% of sales. JM Group's stated growth priorities include expanding into commodity consumables, diversifying its customer base, building proprietary brands, and broadening its supplier base into Vietnam, Cambodia, and Indonesia.