YesAsia Holdings posted solid first-half 2026 results, with group revenue rising 23.2 % year on year to US$301.51 million. Gross profit increased 28.2 % to US$93.98 million, lifting gross margin 1.2 percentage points to 31.2 %. Net profit advanced 30.0 % to US$18.30 million, and net margin improved to 6.1 % from 5.8 %.

B2C platform YesStyle generated revenue of US$215.07 million, up 30.5 %, powered by strong demand in Latin America and Europe. The B2B beauty business AsianBeautyWholesale (ABW) delivered US$82.75 million, up 6.2 %. Within ABW, offline wholesale sales surged 57.1 % to US$34.04 million, while online wholesale declined 13.4 % to US$48.71 million. YesStyle accounted for 71.3 % of group turnover; ABW contributed 27.4 %.

Non-core markets continued to outpace traditional core regions. Revenue from Latin America jumped 178.4 % to US$40.69 million, and Europe rose 22.1 % to US$114.73 million. Core markets (United States, United Kingdom, Australia and Canada) fell 8.6 % to US$92.82 million; U.S. sales declined 22.1 % but showed sequential recovery versus 2H 2025.

Operating profit grew 30.1 % to US$24.29 million. Selling expenses rose 25.4 % to US$35.13 million, mainly on higher marketing spend and customs duties, while administrative expenses increased 28.8 % to US$34.25 million after pay rises, bonuses and one-off termination costs.

Cash flow from operations was an inflow of US$4.03 million (1H 2025 outflow US$1.49 million). Cash and cash equivalents stood at US$13.61 million, supplemented by US$23.61 million in unutilised bank lines, giving total liquidity of US$37.31 million. The gearing ratio fell to 37.7 % from 43.2 % at end-2025, while the group maintained a net cash position of US$9.74 million.

Capital expenditure dropped to US$0.30 million after completion of the Mapletree Smart Robotics Warehouse in 2025. No interim dividend was declared; the company paid a final dividend of US$5.40 million for FY 2025 in July.

Management highlighted continued momentum in beauty product demand, rapid growth in Latin America, and plans to expand offline experiential retail following the May 2026 opening of the first YesStyle concept store in California. The group also emphasised ongoing investment in AI-enabled customer service and supply-chain agility to navigate global logistics and tariff challenges.