YesAsia Holdings Limited (2209.HK) announced its interim results for the six months ended 30 June 2026, reporting record revenue of US$301.51 million, a 23.2% year-on-year increase. The company's net profit surged 30.0% to US$18.30 million, with net profit margin improving to 6.1%. These results underscore the company's ability to capitalize on global demand for Korean Beauty (K-Beauty) products while navigating geopolitical and supply chain uncertainties.
The company's 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. This performance was achieved despite a one-off expense of approximately US$1.24 million in termination benefits from organizational streamlining. Basic earnings per share were US4.39 cents, up from US3.43 cents in the same period last year.
YesAsia's B2C platform, YesStyle, recorded revenue of US$215.07 million, up 30.5%, accounting for 71.3% of total revenue. The company expanded its offline presence with the opening of its first physical concept store in the San Francisco Bay Area, a strategic move to bridge online and offline customer experiences. Meanwhile, the B2B platform AsianBeautyWholesale (ABW) generated US$82.75 million, up 6.2%, representing 27.4% of total revenue. Notably, ABW's average order size surged 38.6% year-on-year to US$3,590.60, reflecting stronger purchasing appetite among retailers.
Geopolitical tensions and freight cost spikes were mitigated through market diversification and logistics investments. The US, the company's largest market, absorbed tariff shocks and delivered progressive improvement. Non-core markets showed robust growth, with Europe and associated countries up 22.1% and Latin America up 178.4%. The Middle East saw steady growth of 33.4% despite regional tensions.
The company's supply chain agility, enhanced by automation technologies and strategic logistics infrastructure in Hong Kong, South Korea, the US, and Europe, kept freight costs as a percentage of revenue at 19.0%, well below revenue growth. This cost control was pivotal in maintaining profitability.
Social media marketing remained a core strength, with an ecosystem of over 557,000 influencers generating US$85.70 million and contributing nearly 40% of YesStyle's revenue. Offline activations, such as a Madrid café pop-up and events at Seoul's Yesful Land, generated millions of impressions, converting engagement into loyalty.
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. We are continuously reinforcing our competitive moat through AI-empowered customer services, a highly agile supply chain, and seamless online-to-offline experiences."
These results demonstrate YesAsia's resilience and strategic execution in a dynamic market. For more information, visit the company's official website: https://www.yesasiaholdings.com/.
