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 June 30, 2026, revealing 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 Group's gross profit increased 28.2% to US$93.98 million, with gross profit margin expanding to 31.2%. Operating profit rose 30.1% to US$24.29 million, and net profit margin improved to 6.1%. Basic earnings per share reached US4.39 cents, up from US3.43 cents in the prior year.
This growth was driven by robust demand for Korean Beauty (K-Beauty) products, which continue to gain mainstream traction worldwide. The company's B2C platform, YesStyle, generated revenue of US$215.07 million, up 30.5%, accounting for 71.3% of total revenue. YesStyle's performance was bolstered by a vast influencer ecosystem of over 557,000 unique influencers, contributing nearly 40% of its revenue. To further amplify its online impact, YesStyle opened its first physical concept store in the San Francisco Bay Area, marking a strategic move into offline retail. Additionally, the company staged high-profile activations, including a Madrid café pop-up and brand events at Seoul's Yesful Land, generating millions of impressions and enhancing brand loyalty.
The B2B platform, AsianBeautyWholesale (ABW), recorded revenue of US$82.75 million, up 6.2%, representing 27.4% of total revenue. ABWOnline's average order size surged 38.6% to US$3,590.60, reflecting stronger purchasing appetite and inventory confidence among retailers. This growth was catalyzed by YesStyle's heightened brand exposure, which drove overseas B2B demand. ABW consolidated new partnerships with retailers in the US and Latin America, showcasing the synergy of the Group's B2C-B2B dual-engine model.
Market diversification and logistics agility were key to navigating uncertainties. The US, the Group's largest market, absorbed tariff shocks and delivered progressive improvement, with revenue exceeding second-half 2025 levels even outside the holiday peak season. Non-core markets showed robust growth, with Europe and associated countries up 22.1% and Latin America surging 178.4%. The Middle East saw steady growth of 33.4% despite regional tensions.
Strategic investments in logistics infrastructure across Hong Kong, South Korea, the US, and Europe, coupled with automation technologies like AMRs, built a resilient supply chain. This enabled the Group to absorb freight and fuel price spikes from Middle East conflicts, keeping operating cost increases below revenue growth. Freight costs as a percentage of revenue dropped to 19.0%, demonstrating strong cost control.
Looking ahead, YesAsia Holdings aims to reinforce its competitive moat through AI-empowered customer services, an agile supply chain, and seamless integration of online and physical experiences. The company believes there is ample room for growth in both retail and wholesale spheres globally, positioning itself to drive long-term value for shareholders.
