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, replicating its record-high half-year performance. Revenue grew 23.2% year-on-year to US$301.51 million, while net profit surged 30.0% to US$18.30 million, underscoring the company's resilience amid global uncertainties.
The results reflect strong global demand for Korean Beauty (K-Beauty) products, a trend that continues to gain momentum. Gross profit increased 28.2% to US$93.98 million, with gross profit margin expanding by 1.2 percentage points to 31.2%. Operating profit rose 30.1% to US$24.29 million. Net profit margin improved to 6.1%, despite a one-off expense of approximately US$1.24 million in termination benefits from organizational streamlining. Basic earnings per share reached US4.39 cents, up from US3.43 cents in the prior year period.
The company's dual-engine model, comprising B2C platform YesStyle and B2B platform AsianBeautyWholesale (ABW), delivered robust growth. YesStyle revenue climbed 30.5% to US$215.07 million, accounting for 71.3% of total revenue, while ABW revenue grew 6.2% to US$82.75 million, representing 27.4% of total revenue. The B2C segment was bolstered by offline expansion, including the opening of YesStyle's first physical concept store in the San Francisco Bay Area, part of an online-to-offline (O2O) integration strategy to enhance customer engagement.
Geopolitical tensions and supply chain disruptions have been persistent challenges for global retailers. YesAsia Holdings mitigated these risks through market diversification and logistics agility. The US, its largest market, absorbed tariff shocks and delivered progressive improvement, with revenue in the first half exceeding the second half of 2025 even outside peak holiday season. Non-core markets showed exceptional strength: Europe and associated countries grew 22.1%, Latin America surged 178.4%, and the Middle East achieved 33.4% growth despite regional tensions.
Strategic investments in logistics infrastructure across Hong Kong, South Korea, the US, and Europe, coupled with automation technologies like autonomous mobile robots (AMRs), built a resilient supply chain. This enabled the company to absorb freight and fuel price spikes from Middle East conflicts, keeping freight costs as a percentage of revenue down to 19.0%. Operating cost increases remained well below revenue growth, demonstrating robust cost control.
Social media marketing remains a core strength, with an ecosystem of over 557,000 unique influencers generating US$85.70 million, contributing nearly 40% of YesStyle's revenue. The company amplified this online impact through high-profile activations, including a Madrid café pop-up that generated over 2 million impressions and brand events at Seoul's Yesful Land with over 3 million impressions. These initiatives successfully converted customer engagement into sustained loyalty.
The enhanced brand exposure also catalyzed B2B purchasing demand. ABW consolidated partnerships with retailers in the US and Latin America, and ABWOnline's average order size surged 38.6% year-on-year to US$3,590.60, indicating stronger retailer confidence in K-Beauty products. This underscores the powerful synergy of the B2C-B2B model.
Mr. Joshua Lau, Founder, Executive Director and CEO of YesAsia Holdings, 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." He emphasized the company's focus on AI-empowered customer services, an agile supply chain, and strategies to convert online traffic into immersive physical experiences, driving long-term shareholder value.
These results are significant for investors and the beauty industry, indicating robust demand for Asian beauty products and the effectiveness of O2O strategies in a challenging macroeconomic environment. YesAsia Holdings continues to strengthen its competitive position through innovation and market expansion, setting a strong foundation for sustained growth.
