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YesAsia Holdings 2024 Annual Revenue and Net Profit Hit Historical High of US$345.78 Million and US$19.04 Million Respectively

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1 year ago

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Global Footprint and B2C-B2B Synergies Drive Long-term Development

Results Highlights

  • Revenue surged by 71.7% to historical high of US$345.78 million.
  • Net profit hit historical high and grew by 151.5% to US$19.04 million, net profit margin improved by 1.7 percentage points to 5.5%.
  • The Board of Directors has recommended a final dividend of HK7.5 cents per share.
  • The Business-to-Customer (B2C) YesStyle Platforms recorded revenue of US$265.64 million, up 67.4%, contributing 76.8% of the Group’s total revenue, and continued to be the most visited platform for Asian beauty products in major overseas markets.
  • Revenue of the Business-to-Business (B2B) platform AsianBeautyWholesale up by 100.2% to US$77.67 million, contributing 22.5% of the Group’s total revenue.
  • The YesStyle Influencer Program, with approximately 403,000 unique influencers across various social media platforms, contributed 27.6% of revenue to YesStyle Platforms.

HONG KONG SAR – Media OutReach Newswire – 31 March 2025 – YesAsia Holdings Limited (“YesAsia Holdings”, and together with its subsidiaries, the “Group”) (02209.HK), a leading e-commerce platform operator recognized for its expertise in identifying and procuring quality Asian beauty and lifestyle products, announced its annual results for the year ended 31 December 2024 (the “Year”).

The Group’s revenue rose by 71.7% to US$345.78 million, owed mainly to the notable contribution from beauty products via the YesStyle Platforms and AsianBeautyWholesale (“ABW“). Gross profit increased by 68.1% to US$105.39 million, and gross profit margin remained stable at 30.5%. As a result, profit for the Year reached US$19.04 million, a 1.5 times leap, and net profit margin improved by 1.7 percentage points to 5.5%. Basic earnings per share were US4.74 cents (2023: US1.91 cents).

As at 31 December 2024, the Group was in a healthy financial position with bank and cash balance and unutilized bank facilities amounting to US$39.82 million (2023: US$31.83 million), laying for it a solid foundation for future development. To reward shareholders for their long-standing support, the Board of Directors has recommended payment of a final dividend of HK7.5 cents per share (2023: HK5 cents per share).

Enhancing Logistics and Marketing Capabilities to Support Global Expansion

The Group has made market diversification its priority for meeting rising global demand for Asian beauty products, as well as for securing multi-regional revenue streams to help it mitigate geopolitical and trade risks on its performance. The approach has yielded exponential growth in non-core markets, which accounted for 50.2% of the Group’s total revenue during the Year, increasing by 117.0% and outpacing the revenue growth of core English-speaking markets (the US, UK, Australia, and Canada) for the second consecutive year. Key drivers included the robust demand in European hubs like France and Germany, and emerging regions such as Latin America and the Middle East, where appetite for Asian beauty products has been rapidly rising.

To fuel expansion, the Group enhanced its marketing capabilities across 40 European countries, 19 Spanish-speaking Latin American countries, and 25 Arabic-speaking countries. YesStyle Platforms bolstered localization efforts to ensure seamless access for its diverse global consumer base. An Arabic-language website was launched, expanding its multilingual support to eight languages, including French, German, Spanish, Italian, Dutch, English, and Chinese. A dedicated regional office in Berlin, Germany further strengthened on-the-ground marketing, combining European and Arabic language expertise to drive regional engagement. Moreover, the Group optimized its global logistics network across Hong Kong, the US, and Europe, enabling faster, cost-effective delivery worldwide while advancing supply chain agility. A second autonomous mobile robotics (AMR) warehouse in Hong Kong, slated for operation in April 2025, will become the Group’s largest automated facility, set to help improve operational efficiency and flexibility.

Bridging Asian Beauty Demand through Expanded B2C-B2B Networks

The Group’s B2C and B2B segments both delivered robust performance in 2024, with the latter deemed as a key future growth driver. YesStyle Platforms solidified the market-leading position as the most-visited platform for Asian beauty products in major overseas markets, including the US, UK, Australia, Canada, France, Germany, Italy, Netherlands, Spain, Poland, Greece, Belgium, Mexico, Chile, Peru, United Arab Emirates and Kingdom of Saudi Arabia. 1 Three major sales campaigns mounted in 2024 were significant sales boosters, lifting average sales quantity up by between 300% to over 2,000%. In total, nine seasonal campaigns, including the three proven, have been planned for 2025, to reinforce the platforms’ capacity to engage global beauty enthusiasts. The YesStyle Influencer Program generated US$73.29 million in referral revenue and launched a comprehensive account management service. Twenty brands joined this Year to benefit from content creation and ongoing engagement for optimal brand alignment and audience reach.

Building on the success of its B2C business, the Group strategically expanded ABW‘s operation during the Year to capture soaring wholesale demand for Asian beauty products. Enhancement initiatives included establishing dedicated teams serving various clients to facilitate wholesale orders of different requirements, as well as partnerships with high-street retail chains to strengthen the visibility of Asian beauty brands in offline retail spaces. One of the alliances ABW formed this Year was with Kiokii Inc., a leading Canadian beauty chain, marking its formal entry into the offline retail market in North America. ABW not only supplied them with the latest seasonal products but also supported their marketing plans with big data analytics. These efforts brought measurable growth in the early stage of expansion of B2B business, with customer numbers rising 3.6%, orders surging 50.8%, and average order size swelling 32.7% year-on-year, reflective of its strong scalability and potential to become one of the pillars to support the Group’s long-term growth.

Mr. Joshua Lau, Founder, Executive Director and Chief Executive Officer, said: “The global passion for Asian beauty, led by K-beauty, is currently riding a rising tide. As a market leader, YesAsia is accelerating strategic investments to tap that growth momentum. Our second smart warehouse to start operation in April 2025 will redefine speed and scale for us, and our B2B expansion efforts will unlock new partnerships. Innovation gives us the drive, but agility is what defines us. We will address broader market uncertainties by maintaining vigilance and adjusting strategies as needed. Supported by established partnerships with K-beauty brands, a clear global roadmap, and diversified risk-management plans, we are poised to seize opportunities and create value for shareholders and stakeholders over the long term.”

1 Global Online Retailing Industry Independent Market Research by Frost & Sullivan in 2024. Traffic includes both Web and App traffic.

Hashtag: #YesAsia

The issuer is solely responsible for the content of this announcement.

About YesAsia Holdings Limited (02209.HK)

Established in 1997, YesAsia Holdings is a leading e-commerce platform operator recognized for its expertise in identifying and procuring quality Asian beauty, fashion, lifestyle and entertainment products. Headquartered in Hong Kong, the Group deliver products promptly and efficiently to a global audience through its strong ties with over 400 leading Asian beauty brand and supplier partners. The Group operates three major e-commerce platforms: YesStyle, an e-commerce B2C platform for serving the increasingly popular Asian beauty, fashion and lifestyle products, particularly Korean beauty products; AsianBeautyWholesale, a B2B platform for Asian beauty products; and YesAsia, an e-commerce retail platform for entertainment products. YesAsia Holdings is a constituent member of the MSCI Hong Kong Micro Cap Index.

For more information, please visit the Group’s official website:

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Hong Kong Company Formations Surge 40.5% in 2025, Outpacing Regional Competitors

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10 hours ago

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15/05/2026

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Air Corporate data reveals 9 in 10 founders incorporated in Hong Kong do so remotely, driven by a 20% surge in Middle Eastern entrepreneurs seeking cost-effective operational alternatives to Dubai.

HONG KONG SAR – Media OutReach Newswire – 15 May 2026 – Air Corporate registered a 40.5% increase in Hong Kong incorporations in 2025, with the first quarter of 2026 already up 48% year-over-year. This data indicates that Hong Kong is reasserting itself as the leading Asian jurisdiction for company formation, fueled by a new wave of remote founders from the Middle East, North Africa, and Europe.

The prevailing narrative over the past five years suggested that Singapore was eclipsing Hong Kong; however, recent incorporation volumes challenge this. According to city-wide official figures cited by Vivian, Founder of Air Corporate, approximately 195,000 companies were registered in Hong Kong in 2025, compared to around 77,000 in Singapore.

“There was a lot of fuss about Singapore taking over Hong Kong as preferred jurisdiction over the last few years, but for 2025 alone, around 195,000 companies were formed in HK, vs around 77,000 for Singapore,” said Vivian. While city-wide registrations rose roughly 35% in 2025, incorporations at Air Corporate specifically grew by 40.5%. Vivian added, “With a 35% increase in the number of companies registered in 2025, Hong Kong is definitely back in the game as the top jurisdiction to start a company.”

The reality of Hong Kong company formation is increasingly global, lean, and founder-led. Nine in ten founders incorporated in Hong Kong with Air Corporate do not live there.

Key demographic and operational insights from Air Corporate’s client base include:

  • Approximately 90% of founders operate remotely from abroad, while 10% or less are based in Hong Kong.
  • Entrepreneurs aged 35 to 44 represent the largest age cohort at 38%, demonstrating that Hong Kong attracts founders in their prime career years rather than just younger digital nomads.
  • Serial entrepreneurs make up 60% of Air Corporate’s client mix, utilizing Hong Kong as an operational base for multiple companies, while first-time founders account for the remaining 40%.
  • A total of 89% of new companies are launched by solo founders (58%) or small teams of two to five individuals (31%).
  • Mainland China, Hong Kong, Turkey, India, the UAE, Australia, France, and Morocco rank among the top source markets for these founders.

Furthermore, 73% of new Hong Kong incorporations are directly tied to physical goods trade with China. This consists of e-commerce and dropshipping businesses (38%) and the trading of goods (35%). The recovery of in-person trade flows, including events, such as the Canton Fair and various industrial fairs, is pulling foreign founders back into the Greater China orbit and establishing Hong Kong as the natural entry point and financial layer over the world’s largest manufacturing base.

Air Corporate’s data recorded a 20% year-over-year growth in founders originating from the Middle East. This shift highlights a reverse migration where founders previously incorporated in Dubai are now choosing Hong Kong. Based on Vivian’s observations, founders often arrive in Dubai expecting fast incorporation and low costs, but discover that incorporation and maintenance are significantly more expensive than in Hong Kong, and banking remains difficult. Consequently, many founders move to Hong Kong after 12 to 24 months in the UAE, a trend accelerated by the Hong Kong government’s strategic outreach to the region.

For lean, remote-first businesses, speed-to-market is a critical factor. A founder located anywhere in the world can incorporate in Hong Kong and open a working bank account in approximately 7 days using digital banking partners. Currently, 90% of Air Corporate’s clients utilize these digital banking partners.

“Hong Kong and Singapore are the only places in Asia where you can set up your company, get a corporate account, and be in business in less than a week,” concluded Vivian.

Air Corporate is a service provider facilitating company formation and incorporation in Hong Kong for serial entrepreneurs, first-time founders, and remote-first business owners operating globally.

Media Inquiries
To learn more about Hong Kong company formation, visit Air Corporate’s website or contact their team directly.

Hashtag: #AirCorporate

The issuer is solely responsible for the content of this announcement.

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Natural Diamonds Sparkle on The Red Carpet at The 2026 Met Gala Celebrating “Costume Art”

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10 hours ago

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15/05/2026

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Today’s biggest stars express individuality and confidence with natural diamonds

NEW YORK, US – Media OutReach Newswire – 15 May 2026 – The 2026 Met Gala celebrating “Costume Art” took place May 4th at the Metropolitan Museum of Art in New York City, bringing together leading figures from across the globe for an unforgettable evening. These tastemakers showcased the most classic, refined and distinctive diamond jewelry looks of the season. Below, A Diamond is Forever highlights the standout trends from the event.

Desert diamonds

Desert diamonds emerged as a striking throughline on the Met Gala carpet, with a range of hues in distinctive settings taking focus.

Rihanna led the trend in a pair of exceptionally rare old Moghul Golconda fancy brown-yellow diamond earrings by Glenn Spiro, featuring two pear-shaped natural diamonds totaling 51.9 carats. Doja Cat offset her all nude look with a pair of large Leviev Diamonds floral-shaped earrings while Paloma Elsesser made a statement in a 29.5-carat diamond necklace by Bernard James, centered around a 15-carat fancy light yellow pear-shaped natural diamond. Cara Delevingne wore a De Beers London Forces of Nature High Jewelry ring, featuring marquise yellow diamonds set as eyes, while Emma Chamberlain opted for yellow and white diamond earrings by Chopard, underscoring the continued allure of warm diamond hues.

Magnificent Diamond Earrings

A wide variety of captivating silhouettes defined the natural diamond earrings on the Met Gala carpet. Zoë Kravitz delivered a modern twist with oversized diamond flower earrings by Jessica McCormack. Chase Sui Wonders opted for Jean Schlumberger by Tiffany & Co. Sea Fan earrings, bringing an element of sculptural artistry to the look. Gracie Abrams selected gently dangling Chanel earrings, adding understated fluidity, while Connor Storrie selected simple hoop earrings from Tiffany & Co., reinforcing the clean and enduring appeal of natural diamonds.

Standout Diamond Moments

Natural diamonds appeared in personal, unconventional and eye-catching ways, offering moments of surprise and awe. Power couple Beyoncé and Jay-Z embodied this trend with Beyoncé wearing Chopard’s Queen of Kalahari necklace, named after the rare 342-carat diamond that provided 23 stones for Chopard’s Garden of Kalahari collection. Jay-Z contributed to the narrative with a vintage diamond brooch by Briony Raymond worn at the collar as an unexpected placement that underscored the piece’s versatility. Isha Ambani made the styling of diamonds an art form in itself, wearing her own diamond jewelry featuring approximately 150 carats of old mine-cut diamonds, including a three-strand necklace and chandelier earrings, while also incorporating diamonds sewn directly into the bodice of her sari to represent significant moments in her life.

Together, these looks highlighted a shift toward natural diamonds as vessels of personal expression, styled with intention, individuality, and a sense of the unexpected.

Hashtag: #MetGala #RedCarpet #ADiamondisForever #NaturalDiamonds #Diamonds





The issuer is solely responsible for the content of this announcement.

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Turn Your Savings into a Front-Row Experience: HL Bank Singapore Offers Exclusive Passes to AsiaTop Music Festival 2026

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22 hours ago

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14/05/2026

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The premier music festival will play host to 16 K-pop, regional and Malaysian stars including, in performance order: Day 1 – NexT1DE, Aina Abdul, Belle Sisoski, Win Metawin, NMIXX, WINNER, DAESUNG, KUN. Day 2 – Uriah See, Firdhaus, Butterbear, 82MAJOR, STAYC, CRAVITY, TWS, CxM

SINGAPORE – Media OutReach Newswire – 14 May 2026 – Your next major K-pop experience is just a savings goal away as HL Bank Singapore (“HLB Singapore”) bridges the gap between financial wellness and the front row. In an exclusive collaboration designed for the ultimate music enthusiast, the bank is offering fans the chance to secure a pair of sought-after AsiaTop Music Festival 2026 tickets, valued at up to RM1,098 (approx. S$355), simply by growing their wealth.

HL Bank Singapore is giving music fans the chance to redeem exclusive passes to the AsiaTop Music Festival 2026, featuring top Asian acts, through its iSavings Reward Campaign.

This unique initiative stems from the regional synergy between Hong Leong Bank (“HLB”) and Tencent Music Entertainment Group (JOOX and QQ Music). By aligning with Visit Malaysia Year and Visit Selangor Year 2026, HLB is transforming the traditional banking experience into a gateway for premium entertainment. Scheduled for 30 and 31 May 2026 at the iconic Sepang International Circuit, the festival promises a high-octane weekend featuring an elite lineup of Asian superstars, including the largest K-pop showcase in the ASEAN region.

Securing a spot at the heart of the action has been streamlined through the iSavings Reward Campaign, running from 9 May 2026 to 18 May 2026. To participate, fans first decide on their preferred festival experience, selecting either a pair of Standard Passes with a S$5,000 deposit or the high-energy, nearer-to-the-stars Rockzone Passes with a S$8,282 deposit for their chosen day.

Once a tier is selected, customers can register by depositing the qualifying funds into an iSavings account via FAST or Links transfer. To validate their entry, customers must include the specific Comment Code, such as PALLIR1 for Day 1 Rockzone, within the funds transfer description. The qualifying balance must be maintained within the account for a six-month (182 days) earmarked period.

With only 88 pairs of tickets available for this exclusive campaign, the stakes are high. Allocation is limited to 22 pairs per day for each ticket category and will be awarded strictly on a first-come, first-served basis. Fans are encouraged to act quickly to ensure their savings work as hard as they do while securing a premier seat at the musical event of the year.

For full terms & conditions, and further details, please visit: www.hlbank.com.sg/AsiaTop2026

Hashtag: #HLBankSingapore

The issuer is solely responsible for the content of this announcement.

HL Bank Singapore

HL Bank Singapore is the Singapore branch of Hong Leong Bank Berhad, a leading digital-centric Malaysia-based financial services institution with a rooted heritage in the country spanning over 120 years. Operating under a Full Bank Licence in Singapore, HL Bank offers a comprehensive range of financial services to our business, retail and high networth customers through our 4 core business segments – Business & Corporate Banking, Personal Financial Services, Private Wealth Management and Global Markets.

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