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 June 30, 2026, revealing record-high performance that underscores the continued global surge in K-Beauty demand. Revenue increased 23.2% year-on-year to US$301.51 million, while net profit surged 30.0% to US$18.30 million, with net profit margin improving to 6.1%.
The company's robust growth was driven by its B2C platform YesStyle, which recorded revenue of US$215.07 million, up 30.5%, accounting for 71.3% of total revenue. The B2B platform AsianBeautyWholesale (ABW) contributed US$82.75 million, up 6.2%. Gross profit rose 28.2% to US$93.98 million, with gross margin expanding to 31.2%. Operating profit grew 30.1% to US$24.29 million, despite a one-time expense of US$1.24 million in termination benefits from organizational streamlining.
This performance highlights the resilience of YesAsia's business model amid geopolitical and supply chain challenges. The company's strategic investments in localized logistics infrastructure across Hong Kong, South Korea, the US, and Europe, along with automation technologies like autonomous mobile robots (AMRs), have enabled it to mitigate freight cost spikes and maintain cost control. Freight costs as a percentage of revenue dropped to 19.0%, demonstrating operational agility.
Market diversification has been pivotal. The US, the largest market, absorbed tariff shocks and delivered progressive improvement, with revenue exceeding the second half of 2025 even outside peak season. Non-core markets showed strong growth: Europe and associated countries grew 22.1%, Latin America surged 178.4%, and the Middle East achieved 33.4% growth despite regional tensions.
A key strategic focus has been online-to-offline (O2O) integration to enhance customer engagement and loyalty. YesStyle opened its first physical concept store in the San Francisco Bay Area, a 1,500 sq. ft. space that bridges digital and physical shopping. 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 with over 3 million impressions. These initiatives amplify the impact of its social media marketing, which leverages an ecosystem of over 557,000 influencers, generating US$85.70 million and nearly 40% of YesStyle's revenue.
The O2O strategy has also catalyzed B2B demand. 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, particularly in the US and Latin America. This synergy between B2C and B2B channels underscores the effectiveness of the dual-engine model.
Joshua Lau, Founder 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. 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."
The company's focus on AI-empowered customer services is a forward-looking move to enhance operational efficiency and customer experience. As the beauty industry becomes increasingly digital, YesAsia's integration of technology and physical presence positions it to capitalize on the growing global appetite for Asian beauty products. For more information, visit the Group's official website: https://www.yesasiaholdings.com/.
