YesAsia Holdings (2209) H2 2025 earnings summary

Executive summary

• Achieved record revenue of US$501.54 million, up 45.0% year-over-year, and net profit of US$23.14 million, up 21.5% year-over-year.

• Beauty products accounted for 97% of YesStyle and ABW revenue, driven by global K-Beauty demand.

• Non-core markets contributed 63.6% of total revenue, growing 83.9% year-over-year, with Europe and Associated Countries set to become the largest regional market.

• B2B segment (ABW) revenue surged 91.7% to US$148.90 million, with offline business debuting at US$49.94 million.

• Significant investments in logistics, marketing, and technology, including a second AMR warehouse and AI-driven initiatives.

Financial highlights

• Gross profit rose 40.9% to US$148.50 million; gross margin slightly decreased to 29.6%.

• Net profit margin declined to 4.6% from 5.5% year-over-year.

• Basic EPS increased 18.6% to 5.62 US cents; diluted EPS up 19.6% to 5.50 US cents.

• Final dividend per share increased by 33.33% to HK10.0 cents.

• Operating profit reached US$31.9 million, up 28.2% year-over-year.

Outlook and guidance

• K-Beauty expected to remain a key growth driver, especially in non-core markets such as Europe, Latin America, and the Middle East.

• Continued investment in B2B expansion, logistics, and AI to support growth and operational efficiency.

• Focus on multilingual platforms, influencer marketing, and community-building initiatives.