YesAsia Holdings Limited (2209.HK), a leading e-commerce platform operator specializing in Asian beauty and lifestyle products, announced its interim results for the six months ended 30 June 2026. The company reported revenue of US$301.51 million, a 23.2% increase year-over-year, with net profit surging 30.0% to US$18.30 million. The strong performance underscores the Group's ability to capture global demand for Korean Beauty (K-Beauty) products while navigating geopolitical and supply chain challenges through strategic investments in logistics and market diversification.
Gross profit grew by 28.2% to US$93.98 million, with gross profit margin expanding by 1.2 percentage points to 31.2%. Operating profit increased by 30.1% to US$24.29 million, and net profit margin improved to 6.1%. Basic earnings per share were US4.39 cents, up from US3.43 cents in the same period last year. The results replicate the record-high performance achieved in the first half of 2025, demonstrating sustained momentum.
The Group's business-to-consumer (B2C) platform, YesStyle, generated revenue of US$215.07 million, up 30.5%, and accounted for 71.3% of total revenue. The business-to-business (B2B) platform, AsianBeautyWholesale (ABW), contributed US$82.75 million, up 6.2%, representing 27.4% of total revenue. The growth was driven by strong demand in key markets, with the US, the Group's largest market, showing progressive improvement despite tariff pressures. Revenue from Europe and associated countries grew by 22.1%, while Latin America surged by 178.4%. The Middle East also saw steady growth of 33.4%, despite regional tensions.
Strategic investments in logistics infrastructure across Hong Kong, South Korea, the US, and Europe, including the adoption of automation technologies such as Autonomous Mobile Robots (AMRs), have built a resilient supply chain. These investments helped mitigate freight and fuel cost spikes, keeping freight costs as a percentage of revenue at 19.0%, below revenue growth. The Group's operational agility and cost control were key to maintaining profitability.
To further enhance its competitive edge, YesAsia Holdings has been integrating online-to-offline (O2O) experiences. YesStyle opened its first physical concept store in the San Francisco Bay Area, a 1,500 sq. ft. space, and staged high-profile activations such as a Madrid café pop-up and events at Seoul's Yesful Land, generating millions of impressions. These initiatives aim to convert online engagement into lasting customer loyalty.
The O2O strategy also catalyzed B2B demand, with ABW's average order size surging 38.6% year-on-year to US$3,590.60, reflecting stronger retailer confidence in K-Beauty products. The Group's influencer ecosystem, comprising over 557,000 unique influencers, contributed US$85.70 million, nearly 40% of YesStyle's revenue.
Mr. Joshua Lau, Founder and CEO, commented: "K-Beauty remains on an upward trajectory as it becomes a mainstream player in the global beauty business. Looking ahead, we believe that there is ample room for growth for YesAsia Holdings in both the retail and wholesale spheres worldwide. Amid geopolitical and supply chain uncertainties, we are continuously reinforcing our competitive moat and market leadership through AI-empowered customer services, a highly agile supply chain, and a strategy that seamlessly converts online traffic into immersive physical experiences."
The Group's focus on market diversification and logistics agility positions it well to sustain growth and deliver long-term value to shareholders. As K-Beauty continues to gain global popularity, YesAsia Holdings is poised to capitalize on emerging opportunities while mitigating risks through its dual-engine model and innovative customer engagement strategies.
