YesAsia Holdings Limited (2209.HK) announced its interim results for the six months ended 30 June 2026, reporting a 23.2% year-on-year increase in revenue to US$301.51 million, and a 30.0% surge in net profit to US$18.30 million, replicating its record high performance from the previous year. The company's gross profit grew by 28.2% to US$93.98 million, with gross profit margin expanding to 31.2%, while operating profit rose by 30.1% to US$24.29 million. These results reflect the group's ability to capitalize on the robust global demand for Korean Beauty (K-Beauty) products, despite geopolitical and supply chain challenges.
The company's business-to-consumer (B2C) platform, YesStyle, generated revenue of US$215.07 million, up 30.5%, accounting for 71.3% of total revenue. To enhance its online-to-offline (O2O) integration, YesStyle opened its first physical concept store in the San Francisco Bay Area, a strategic move to bridge online and offline customer experiences. Meanwhile, the business-to-business (B2B) platform, AsianBeautyWholesale (ABW), contributed US$82.75 million, a 6.2% increase, representing 27.4% of total revenue. ABW's average order size surged 38.6% to US$3,590.60, indicating stronger purchasing appetite from retailers.
Market diversification proved pivotal in mitigating risks. The US, the group's largest market, absorbed tariff shocks and delivered progressive improvement, with revenue exceeding the second half of 2025 even outside the typical holiday season. Non-core markets, particularly Europe and Latin America, exhibited robust growth, with revenue from Europe and associated countries increasing by 22.1% and Latin America by 178.4%. In the Middle East, despite regional tensions, the group achieved steady revenue growth of 33.4%.
Strategic investments in logistics infrastructure across Hong Kong, South Korea, the US, and Europe, combined with automation technologies like AMRs, have built a resilient supply chain. This agility enabled the group to absorb freight and fuel price spikes, keeping freight costs as a percentage of revenue at 19.0% and operating cost increases well below revenue growth.
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 group's offline activations, such as a Madrid café pop-up and Seoul's Yesful Land events, generated millions of impressions, converting engagement into loyalty and catalyzing overseas B2B demand.
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 that there is ample room for growth for YesAsia Holdings in both the 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, thereby driving long-term value for our shareholders in a fast-evolving market landscape."
These results underscore YesAsia Holdings' effective dual-engine model, which leverages both B2C and B2B channels to capture the growing global appetite for K-Beauty. The company's forward-looking investments in logistics and market diversification have positioned it to navigate uncertainties while maintaining profitability. As K-Beauty continues to gain mainstream acceptance, YesAsia Holdings is well-poised to sustain its growth trajectory and deliver value to its shareholders.
