YesAsia Holdings Limited (2209.HK) announced its interim results for the six months ended 30 June 2026, reporting revenue of US$301.51 million, a 23.2% increase year-on-year. Net profit surged 30.0% to US$18.30 million, with net profit margin improving to 6.1%. These results replicate the record high achieved in the first half of 2025, demonstrating the Group's resilience and strategic execution.
The Group's growth was driven by robust demand for K-Beauty products across its two main platforms. YesStyle, the B2C platform, saw revenue rise 30.5% to US$215.07 million, accounting for 71.3% of total revenue. AsianBeautyWholesale (ABW), the B2B platform, recorded revenue of US$82.75 million, up 6.2%. The Group's gross profit grew 28.2% to US$93.98 million, with gross profit margin expanding to 31.2%.
A key factor in this performance was the Group's strategic investments in logistics infrastructure and market diversification. By expanding its footprint across Hong Kong, South Korea, the US, and Europe, and adopting automation technologies like AMRs, YesAsia Holdings built a resilient supply chain that mitigated geopolitical and freight cost pressures. As a result, freight costs as a percentage of revenue dropped to 19.0%, and operating costs increased at a slower pace than revenue.
The Group also strengthened its online-to-offline (O2O) integration to enhance competitiveness. YesStyle opened its first physical concept store in the San Francisco Bay Area, complemented by high-profile activations like a Madrid café pop-up and events at Seoul's Yesful Land, generating millions of impressions. These efforts not only boosted brand loyalty but also catalyzed B2B demand, with ABWOnline's average order size surging 38.6% year-on-year to US$3,590.60.
Geographically, the US, the Group's largest market, absorbed tariff shocks and delivered progressive improvement. Non-core markets showed strong growth, with revenue from Europe and associated countries up 22.1% and Latin America up 178.4%. The Middle East also achieved steady growth of 33.4% despite regional tensions.
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 Group's focus on AI-empowered customer services, agile supply chain, and O2O strategies to drive long-term shareholder value.
These results highlight YesAsia Holdings' ability to navigate global uncertainties through diversification and operational agility. The company's dual-engine model, combining B2C and B2B channels, along with its investments in logistics and marketing, position it well to capitalize on the growing global demand for Asian beauty products.
