YesAsia Holdings Limited (2209.HK), a leading e-commerce platform for Asian beauty and lifestyle products, announced its interim results for the six months ended 30 June 2026, revealing record half-year revenue of US$301.51 million, a 23.2% increase year-on-year. Net profit surged 30.0% to US$18.30 million, with a net profit margin of 6.1%. Gross profit grew 28.2% to US$93.98 million, expanding the gross profit margin to 31.2%.
The results underscore the company's successful navigation of global uncertainties through market diversification and logistics agility. Despite tariff shocks and geopolitical tensions, the US market, the Group's largest, absorbed impacts and delivered progressive improvement, with revenue exceeding the second half of 2025 even outside the holiday peak season. Non-core markets also contributed significantly: revenue from Europe and associated countries grew 22.1%, Latin America surged 178.4%, and the Middle East achieved steady growth of 33.4% despite regional tensions.
Strategic investments in logistics infrastructure across Hong Kong, South Korea, the US, and Europe, along with automation technologies like autonomous mobile robots (AMRs), built a resilient supply chain. This agility helped mitigate freight and fuel price spikes from Middle East conflicts, keeping operating cost increases well below revenue growth. Freight costs as a percentage of revenue dropped to 19.0%, demonstrating robust cost control.
The Group's dual-engine model, comprising B2C platform YesStyle and B2B platform AsianBeautyWholesale (ABW), continued to drive growth. YesStyle revenue increased 30.5% to US$215.07 million, accounting for 71.3% of total revenue. Social media marketing remained a core strength, with an ecosystem of over 557,000 unique influencers generating US$85.70 million and nearly 40% of YesStyle's revenue. To bridge online and offline experiences, YesStyle opened its first physical concept store in the San Francisco Bay Area, a 1,500 sq. ft. space. The company also staged high-profile activations, including a Madrid café pop-up that generated over 2 million impressions and brand events at Seoul's Yesful Land that accumulated over 3 million impressions, converting engagement into loyalty.
These offline initiatives catalyzed overseas B2B demand. ABW revenue grew 6.2% to US$82.75 million, and ABWOnline's average order size surged 38.6% year-on-year to US$3,590.60, reflecting stronger purchasing appetite and inventory confidence among retailers for K-Beauty products. This synergy highlights the power of the B2C-B2B model.
Mr. Joshua Lau, Founder, Executive Director 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 there is ample room for growth in both 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."
These results indicate that YesAsia Holdings is well-positioned to capitalize on the growing global demand for K-Beauty, leveraging its diversified market presence and innovative O2O approach to sustain growth and deliver shareholder value.
