此外，该集团已通过强化于香港及柏林办事处的市场营销团队以增强B2C分部的市场营销工作;及于香 港扩展B2B销售团队扩展其人才库。 因此，该集团于报告期内的净利率为5.8%(往期：6.8%)。尽管如此，报告期内净利率分别超过2024年下 半年的净利率约4.4%及2024年全年的净利率约5.5%。 喆丽控股(02209)公布，该集团预期于2025年上半年取得综合纯利约1407.5万美元，同比增长26.7%，主 要是由于报告期内收益及毛利增加。 报告期内的未经审核综合收益预计约为2.44亿美元，较往期增加约49.3%，主要是受YesStyle及 AsianBeautyWholesale的美容产品销售增长所推动。该增长主要是由于YesStyle加强营销工作，以推动美 容产品的销售;及AsianBeautyWholesale的扩张，通过线上及线下渠道服务更多的企业对企业(B2B)客 户。 于报告期内的未经审核综合毛利预期约为7326.2万美元(往期：5019.2万美元)，较往期增加约46.0%。 该集团于报告期内的毛利率预期保持相对稳定，约为30.0%，较往期的30.7%小幅下降。这主要归因于 相对于B2C利润率较低的 ...

Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching $150 million for the last fiscal year[2]. - Revenue for the fiscal year ending December 31, 2024, reached $345,782,000, a 71.7% increase from $201,339,000 in 2023[15]. - Net profit for the same period was $19,042,000, representing a 151.5% increase compared to $7,572,000 in 2023[15]. - Revenue increased by approximately 71.7% to about $345,782,000 in 2024, compared to $201,339,000 in 2023[50]. - Net profit soared 1.5 times to approximately $19,042,000, with a net profit margin of 5.5% in 2024, up from 3.8% in 2023[50]. - Revenue from beauty products surged to $318,742,000 in 2024, compared to $162,230,000 in 2023[17]. - Revenue from the U.S. market increased to $116,465,000 in 2024, a 33.0% growth from $87,564,000 in 2023[21]. - Retail revenue from YesStyle and other platforms grew by 67.4% to approximately $265,635,000, while wholesale revenue surged by 100.2% to about $77,670,000[50]. User Engagement and Growth - User data showed a growth of 20% in active users, totaling 1.2 million by the end of the reporting period[2]. - The number of customers on the YesStyle platform grew to 2,258,000 in 2024, up from 1,423,000 in 2023[17]. - YesStyle platform registered approximately 17,400,000 members by December 31, 2024, an increase from 13,335,000 in 2023, with monthly average visits rising to about 15,667,000[54]. - The number of key opinion leaders for YesStyle increased to approximately 403,000 in 2024, up from 333,000 in 2023, enhancing audience engagement[58]. Market Expansion and Strategy - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues of approximately $165 million[2]. - Market expansion efforts have led to a 30% increase in sales in non-core markets, totaling $30 million[2]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% market share by 2025[3]. - The flagship e-commerce platform YesStyle saw a revenue increase of approximately 91.3% in the EU region in 2024, supported by five European languages and effective influencer marketing[35]. - In Latin America, the company recorded outstanding revenue growth of approximately 536.1% in 2024, aided by Spanish language support on the YesStyle platform[36]. Product Development and Innovation - New product launches contributed to a 25% increase in sales in the beauty segment, with total sales reaching $50 million[2]. - The company is investing $5 million in R&D for autonomous logistics technology, aiming to enhance operational efficiency[2]. - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[4]. Corporate Governance and Management - The management team emphasized the importance of maintaining strong corporate governance practices, adhering to the updated guidelines[6]. - The company has implemented several internal controls to safeguard assets and ensure compliance with applicable laws and regulations[7]. - The board of directors is committed to enhancing shareholder value through strategic planning and performance monitoring[8]. - The company has established an audit committee, a remuneration committee, and a nomination committee to oversee specific matters[143]. Financial Health and Investments - Total assets increased to $120,569,000 in 2024 from $74,485,000 in 2023, marking a significant growth[14]. - The company's cash and cash equivalents decreased by approximately $9,640,000 during the reporting year, resulting in a balance of about $15,448,000 as of December 31, 2024[91]. - The company's debt-to-equity ratio increased from approximately 34.8% as of December 31, 2023, to about 43.0% as of December 31, 2024, mainly due to increased lease liabilities for the new warehouse[97]. - The company has no outstanding bank borrowings as of December 31, 2024, and has unused bank financing of approximately $24,288,000[94]. Employee and Operational Metrics - The total employee team includes 155 males (29.8%) and 365 females (70.2%) as of December 31, 2024[148]. - The group has 520 employees as of December 31, 2024, an increase from 454 employees in 2023[104]. - Employee costs increased by approximately $5,775,000 or 34.5% due to an increase in headcount from 357 to 416[83]. Marketing and Customer Engagement - A new marketing strategy is projected to improve customer engagement by 15% over the next year[2]. - Influencer referrals generated revenue increased to approximately $73,287,000 in 2024, up from $40,422,000 in 2023, accounting for about 27.6% of YesStyle's platform revenue[59]. - The company successfully executed three major promotional events in 2024, achieving sales increases ranging from over 300% to over 2,000%[54]. Risk Management and Compliance - The group has implemented appropriate internal controls and risk management measures regarding sanctions, with no transactions with sanctioned countries or individuals during the reporting year[107]. - The company has a standard code of conduct for directors regarding securities trading, ensuring compliance with established guidelines[177]. - The board completed a review of the risk management and internal control system during the reporting year and deemed it efficient and adequate[173].

Financial Performance - YesAsia Holdings Limited reported its annual results for the year ending December 31, 2024, in compliance with the Hong Kong Stock Exchange listing rules[2]. - The company's revenue for the year ended December 31, 2024, was $345,782,000, representing a 71.7% increase compared to $201,339,000 in 2023[17]. - The net profit for the same period was $19,042,000, a significant increase of 151.5% from $7,572,000 in 2023[17]. - The total assets as of December 31, 2024, reached $120,569,000, up from $74,485,000 in 2023[16]. - The company reported a gross profit of $105,386,000 for 2024, which is a 68.1% increase from $62,698,000 in 2023[17]. - The net profit margin improved to 5.5% in 2024, up from 3.8% in 2023, reflecting a 1.7 percentage point increase[17]. - Revenue from non-core markets increased by approximately 117.0% in 2024, with non-core market revenue accounting for about 50.2% of total revenue, up from approximately 39.7% in 2023[37]. - The YesStyle platform's revenue in the EU region increased by approximately 91.3% in 2024, aided by the introduction of five European languages[37]. - In Latin America, the company recorded outstanding revenue growth of approximately 536.1% in 2024, supported by Spanish language services on the YesStyle platform[38]. - The YesStyle mobile app generated revenue of $129,732,000 in 2024, up from $70,018,000 in 2023[20]. Corporate Governance - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[5]. - The company is committed to transparency and compliance with corporate governance standards as outlined in the listing rules[10]. - The upcoming annual general meeting will provide shareholders with an opportunity to engage with the board and discuss future strategies[7]. - The company has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to ensure effective governance[154]. - The independent non-executive directors confirm their independence, and the company believes all independent non-executive directors are independent[140]. - The company has implemented mechanisms to ensure independent opinions and advice are provided to the board[144]. - The company complies with the corporate governance code, except for a deviation regarding the internal audit function[132]. - The board has established an executive committee to manage daily operations and administrative matters[135]. Strategic Initiatives - The company has established a non-compete agreement with its controlling shareholders, ensuring strategic alignment and protection of business interests[11]. - The company plans to propose a final dividend of 7.5 HKD cents per share, a 50% increase from 5.0 HKD cents in 2023[17]. - The company plans to diversify revenue sources, reducing reliance on the U.S. market from approximately 43.5% in 2023 to about 33.7% in 2024[46]. - The company aims to enhance supply chain flexibility and logistics capabilities to mitigate geopolitical and trade tensions[69]. - The company is actively expanding its global wholesale market to enhance the presence of Asian brands in offline retail, recognizing that the offline market is several times larger than online[66]. - The company plans to establish a studio in South Korea in 2025 to engage overseas influencers for content creation[70]. - The management has set ambitious performance targets for the next quarter, aiming for a revenue increase of 15% year-over-year[129]. Market Presence - The core markets identified by the company include the United States, the United Kingdom, Australia, and Canada, highlighting its international focus[8]. - The company operates multiple shopping websites, including YesStyle and AsianBeautyWholesale, indicating a broad online presence[6]. - The number of customers on the YesStyle platform increased to 2,258,000 in 2024, compared to 1,423,000 in 2023, marking a growth of 58.5%[19]. - The average monthly visits to YesStyle increased to approximately 15,667,000 in 2024, compared to 10,935,000 in 2023[56]. - YesStyle successfully launched three major promotional events in 2024, with sales increases ranging from over 300% to over 2,000%[56]. Leadership and Management - The company has a strong leadership team with diverse backgrounds in finance, technology, and operations, enhancing its strategic decision-making capabilities[115][117]. - The company has expanded its leadership team with experienced professionals in various sectors, enhancing its strategic capabilities[127]. - The company aims to leverage its new leadership to drive market expansion and product innovation in the upcoming fiscal year[129]. - The company appointed a new CEO for ABW, effective January 2025, to enhance B2B marketing strategies and logistics operations[67]. - The company has appointed Mr. Woon as Vice President of Information Technology, who has extensive experience in various IT roles since joining in June 2000[121]. Financial Management - The company has no outstanding bank borrowings as of December 31, 2024, with unused bank financing of $24,288,000[96]. - The company anticipates meeting its liquidity needs for the coming year through operating cash flow and available bank financing[97]. - The company reported a financing cost of $1,300,000, up 6.7% from $1,218,000 in the previous year[89]. - The company has implemented appropriate internal controls and risk management measures to avoid transactions with sanctioned countries or individuals, with no such transactions reported during the year[109]. - The company has a risk management strategy that includes risk retention, transfer, avoidance, and diversification[173][174]. Employee and Operational Insights - Employee costs rose by 34.5% to $22,530,000, representing 6.5% of revenue, due to an increase in headcount from 357 to 416[86]. - The company had 520 employees as of December 31, 2024, up from 454 employees in 2023, indicating a focus on attracting and retaining qualified personnel[106]. - The existing AMR warehouse has saved approximately $6,593,000 in labor costs in 2024, up from $3,374,000 in 2023, and has achieved a significant increase in transportation volume, managing 10,000 shipments daily, representing a 1.5 times growth compared to before its establishment[59]. Shareholder Engagement - The company has implemented a shareholder communication policy to ensure timely and comprehensive information dissemination to shareholders and potential investors[181]. - The board proposed a final dividend of HKD 0.075 per share for the year ending December 31, 2024, compared to HKD 0.050 in 2023, totaling approximately USD 3,965,000 based on 409,712,466 shares[190]. - The retained earnings available for distribution as of December 31, 2024, are approximately USD 74,000, a decrease from USD 3,297,000 in 2023[195].

Financial Performance - Revenue for the six months ended June 30, 2024, reached $163.348 million, an increase of 80.2% compared to $90.657 million in the same period of 2023[5] - Gross profit for the same period was $50.192 million, up 78.1% from $28.182 million year-over-year[5] - Net profit for the period surged to $11.107 million, a significant increase of 610.6% compared to $1.563 million in the prior year[5] - The company's revenue for the first half of 2024 reached approximately $163.35 million, an increase of about 80.2% compared to $90.66 million in the same period of 2023[12] - Net profit surged over six times to approximately $11.11 million, compared to $1.56 million in the previous year[12] - Operating profit surged to $14,027 thousand, compared to $2,524 thousand in the prior year, indicating a strong operational performance[71] - Basic earnings per share rose to 2.80 cents, compared to 0.39 cents in the previous year, reflecting improved profitability[71] - The total comprehensive income for the period was $10,922 thousand, compared to $1,526 thousand in the same period last year, highlighting overall financial strength[72] Revenue Sources - Revenue from beauty products reached $149.36 million, a significant increase from $69.83 million in the previous year, contributing approximately 91.4% of total revenue[12] - YesStyle platform's revenue grew approximately 75.1% to about $125.13 million, driven by record sales of beauty products[13] - Revenue generated from influencer referrals exceeded $33.93 million, more than doubling from $15.77 million in the previous year[14] - Revenue from the customer relationship management system increased over 100% to approximately $23,796,000, up from $11,524,000 in the previous period[15] - Revenue from the Balkans region was approximately $2,264,000 during the reporting period, compared to $872,000 in the previous period[67] Customer Metrics - The number of customers on the e-commerce platform increased to 1,304,000, up from 796,000 in the previous year[1] - The average order value increased to $84.0 from $78.9 in the previous year[1] - The return rate for YesStyle decreased to 0.4% from 0.8% in the previous year, indicating improved customer satisfaction[1] - YesStyle's loyalty program membership grew by approximately 18.4% to about 13,753,000 members, compared to 11,617,000 members as of December 31, 2023[15] Cost and Expenses - Cost of sales rose by approximately $50,681,000 or 81.1% to about $113,156,000, with product cost as a percentage of revenue increasing by 1.0 percentage point to 47.3%[23] - Selling expenses rose by approximately $7,496,000 or 67.3% to about $18,642,000, mainly due to increased marketing and promotional expenses[26] - Administrative expenses for the reporting period were approximately $18,234,000, an increase of about $3,671,000 or 25.2% compared to the previous period[28] - Employee costs increased by approximately $2,477,000 or 30.6%, primarily due to performance-related bonuses of about $1,820,000[28] Market Insights - The K-Beauty product market in the U.S. achieved a market share of 20.1%, valued at $477.1 million, surpassing French beauty products at 19.3% market share[17] - The North American K-Beauty market is projected to grow at a compound annual growth rate (CAGR) of 10.02%, reaching $9.9 billion by 2032[17] - The European K-Beauty market is expected to grow at a CAGR of 9.48%, with revenues projected to reach $5.6 billion by 2032[17] Operational Developments - A second autonomous mobile robot warehouse is planned to be operational in Q1 2025 to enhance operational efficiency and meet increasing customer demand[19] - The company has established three overseas warehouses in the U.S., U.K., and Germany to support the growing K-Beauty market[21] - A three-year exclusive distribution agreement with Too Cool For School was initiated, focusing on the U.S. market and leveraging social media platforms for marketing[20] - The company is actively recruiting influencers to enhance its digital marketing strategy and improve customer engagement[20] Financial Position - Total assets as of June 30, 2024, amounted to $87,766 thousand, up from $74,485 thousand at the end of 2023, indicating strong asset growth[73] - The company reported a total equity of $43,934 thousand, up from $35,054 thousand, reflecting a solid capital position[73] - Cash and bank balances decreased to approximately $6,868,000 from $25,181,000, a reduction of about $18,081,000 during the reporting period[34] - The debt-to-equity ratio improved from approximately 34.8% to 23.9% due to the amortization of lease liabilities[36] Shareholder Information - The total number of shares held by the directors and senior management as of June 30, 2024, amounts to 154,606,530 shares, representing approximately 38.68% of the company's issued share capital[44] - Liu Guozhu holds 124,670,980 shares, representing 31.19% of the company, and his spouse holds 29,935,550 shares, representing 7.49%[43] - The company confirmed dividend income of approximately $2,000 from the investment in 嘉泓物流 during the reporting period[38] - The board has decided not to declare any interim dividend for the six months ended June 30, 2024, consistent with the previous period[39] Stock Options and Employee Compensation - The company reported a total of 1,839,757 stock options granted, with 216,048 options exercised during the reporting period[51] - The total amount received from the exercise of stock options under the 2016 stock option plan during the reporting period was approximately $380,000, which was used for general operating funds[52] - The company has a total of 1,261,709 stock options remaining after accounting for exercised options[51] - The total compensation for key management personnel was $1,091,000 for the six months ended June 30, 2024, compared to $717,000 in the previous year[118] Compliance and Governance - The audit committee has reviewed the interim financial information for the six months ended June 30, 2024, although it has not been audited by the company's auditor[62] - The company has complied with the corporate governance code during the reporting period, with one exception regarding the internal audit function[64]

Financial Performance - Revenue for the six months ended June 30, 2024, reached $163,348,000, an increase of 80.2% compared to $90,657,000 in the same period of 2023[7]. - Gross profit for the same period was $50,192,000, up 78.1% from $28,182,000, resulting in a gross margin of 30.7%[7][8]. - The company reported a net profit of $11,107,000, a remarkable increase of 610.6% from $1,563,000 in the same period last year[7]. - Operating profit increased significantly to $14,027,000 from $2,524,000, reflecting a strong operational performance[73]. - The total comprehensive income for the period was $10,925,000, compared to $1,526,000 in the previous year, showing a significant improvement[76]. - Basic earnings per share for the period were 2.80 cents, compared to 0.39 cents in the previous year[73]. - The segment performance showed a total segment profit of $16,875,000 for the first half of 2024, up from $4,475,000 in the previous year, reflecting a growth of 276%[87]. E-commerce and Market Expansion - The company focuses on e-commerce platforms, including www.yesasia.com and www.yesstyle.com[4]. - The company aims to enhance its market presence and expand its product offerings in the e-commerce space[4]. - The number of e-commerce platform customers increased to 1,304,000, a significant rise from 796,000 in the previous year[9]. - Revenue from beauty products surged to $149,361,000, compared to $69,833,000 in the prior year, reflecting strong market demand[9]. - YesStyle platform's revenue skyrocketed approximately 75.1% to about $125,132,000, driven by record sales of beauty products[15]. - The company continues to expand its social media marketing efforts and invest in multilingual website versions to tap into Latin American and Middle Eastern markets[19]. Logistics and Operations - The company is involved in the logistics management sector through its subsidiary 嘉泓物流[4]. - The company plans to establish a second autonomous robotic warehouse in Hong Kong, expected to begin operations in Q1 2025, to enhance delivery efficiency and meet rising customer demand[21]. - Three overseas warehouses have been set up in the US, UK, and Germany to support the growing K-Beauty market and improve logistics capabilities[23]. - The logistics center in Hong Kong will play a crucial role in addressing market demand fluctuations, improving operational efficiency with minimal manpower[21]. Customer Engagement and Marketing - YesStyle mobile app downloads reached 2,264,000, up from 1,683,000, indicating growing user engagement[11]. - The average order value increased to $84.0 from $78.9, suggesting higher spending per transaction[9]. - The cost to acquire each new customer rose to $10.6 from $9.6, reflecting increased marketing investments[9]. - The return rate for YesStyle decreased to 0.4% from 0.8%, indicating improved customer satisfaction and product quality[9]. - The number of unique influencers for YesStyle increased to approximately 365,000, up from 333,000, with TikTok influencers reaching about 87,000, a growth rate of approximately 20.8%[16]. Financial Position and Capital Management - Cash and bank balances decreased by approximately $18,081,000 to about $6,868,000, primarily due to cash used in operating activities[36]. - The company had no bank borrowings as of June 30, 2024, with unutilized bank financing of approximately $4,355,000[36]. - The company's debt-to-equity ratio decreased from approximately 34.8% as of December 31, 2023, to about 23.9% as of June 30, 2024, primarily due to the amortization of lease liabilities[38]. - The company maintains a conservative approach to financial risk management, avoiding high-leverage or speculative derivative investments[37]. - The company has no significant contingent liabilities as of June 30, 2024, consistent with the previous reporting period[38]. Shareholder Information and Stock Options - The company has not declared any interim dividend for the six months ended June 30, 2024, similar to the prior period[41]. - The company has a stock option plan that allows various executives to subscribe for additional shares, with each having options for 100,000 shares[46]. - A total of 309,000 stock options were granted under the post-IPO stock option plan, allowing for the purchase of up to 3,090,000 shares[57]. - The company aims to attract and retain qualified employees through the stock option plans, aligning their interests with those of the shareholders[55]. - The total number of shares that could be issued upon the exercise of all stock options under the 2016 plan as of June 30, 2024, is 15,817,090, representing about 3.96% of the total issued shares[54]. Governance and Compliance - The board of directors includes executive directors and independent non-executive directors, ensuring a diverse governance structure[2]. - The audit committee has been established to oversee financial reporting and internal control systems[64]. - The board of directors will review corporate governance policies annually to ensure compliance with the corporate governance code[66]. - The company is compliant with the Securities and Futures Ordinance regarding the disclosure of interests in shares[48].

Revenue Growth and Performance - YesStyle platform revenue increased by 44.3% to $158.7 million in 2023, driven by a 52.3% growth in sales orders[21] - European Union, Canada, and UK sales orders grew by 136.8%, 117.5%, and 77.2% respectively[22] - AsianBeautyWholesale revenue surged by 234.4% to $38.8 million, with customer numbers, order numbers, and average order value increasing by 90.1%, 143.4%, and 38.6% respectively[23] - Revenue generated from the company's self-operated online platform was $200.156 million, accounting for 99.4% of the total revenue for the year ended December 31, 2023[97] Beauty Product and Brand Partnerships - YesStyle partnered with 78 new K-Beauty brands and ended the year with 448 K-Beauty brand partnerships, up from 430 in 2022[24] - Beauty product revenue accounted for 80.6% of total revenue, up from 54.1% in the previous year[24] - The company reallocated part of the unused net proceeds originally allocated to improve logistics and warehouse efficiency to strengthen marketing efforts to promote beauty products, with a reallocation of HKD 8.9 million[72] Membership and Customer Engagement - YesStyle Elite Club membership grew to 11.6 million by the end of 2023, up from 8.3 million in 2022[30] - The number of YesStyle opinion leaders increased from approximately 279,000 in 2022 to around 333,000 in 2023, with a significant rise in TikTok opinion leaders from 44,000 to 72,000[98] Share Options and Equity - The company's share options plan had 18.4 million shares exercisable as of December 31, 2023, representing 4.63% of total issued shares[29] - The company granted a total of 223,500 share options during the reporting year, with 196,000 options remaining unexercised as of December 31, 2023[58] - The company's share option plan stipulates that 25% of all granted options will vest on the first anniversary of the vesting start date, and 6.25% will vest every three months thereafter[60][76] - PCCW e-Ventures holds 39,704,030 shares of the company, representing approximately 9.99% of the total issued shares as of December 31, 2023[110] Financial and Operational Management - The largest customer accounted for approximately 0.5% of the group's total revenue in the reporting year (2022: 0.4%), while the top five customers accounted for approximately 1.6% of the group's total revenue (2022: 1.3%)[67] - As of December 31, 2023, the company had utilized HKD 92.3 million of the net proceeds, with the remaining unused net proceeds expected to be fully utilized by March 31, 2024[73] - The company did not adopt any share award plans during the reporting year and up to the report date[64] - The company's board of directors has established a remuneration committee to review the remuneration policies and structures for directors and senior management based on the group's operating performance, individual performance, and market practices[75] Legal and Governance - The company has purchased directors' and officers' liability insurance to provide appropriate coverage for potential legal actions arising from corporate activities[66] - The company did not engage in any significant litigation or arbitration during the reporting year, and there are no pending or potential significant claims against the company[70] - The company's financial statements were audited by RSM Hong Kong, which will retire at the upcoming annual general meeting and is eligible and willing to be reappointed[71] - The company's audit committee and board of directors are responsible for governance and oversight[108] - The company's legal advisor is based in Hong Kong, and its share registrar is HSBC[107] Corporate Structure and Operations - The company operates the AsianBeautyWholesale platform, accessible at www.AsianBeautyWholesale.com[108] - The company's registered office and headquarters are located in Hong Kong[107] - The company's fiscal year for the reporting period ended on December 31, 2023[110] - The company's shares are listed on the Main Board of the Stock Exchange, excluding the GEM market[109] - The company's founders include Mr. Liu Guozhu and Ms. Zhu Liqiong, who are also executive directors and controlling shareholders[109] - The company's subsidiaries include YesAsia.com Japan Kabushiki Kaisha, which operates in the offline wholesale sector[110] Shareholder and Dividend Information - The company will hold its Annual General Meeting on June 21, 2024, and will suspend share registration from June 17 to June 21, 2024, to determine shareholders' rights to attend and vote[79] - The board has proposed a final dividend of HK$0.05 per share for the year ended December 31, 2023, payable to shareholders on the register as of July 4, 2024, subject to approval at the Annual General Meeting[80] - The company's IPO date was July 9, 2021, when its shares were first listed and began trading on the Main Board of the Stock Exchange[109]

Financial Performance - Total revenue for the year ended December 31, 2023, was $201.339 million, representing a 56.6% increase from $128.592 million in 2022[19] - Gross profit for the same period was $62.698 million, with a gross margin of 31.1%, down from 33.2% in the previous year[19] - The company reported a net profit of $7.572 million, a turnaround from a loss of $6.782 million in the previous year[19] - Operating profit for 2023 was $9,300 thousand, a turnaround from an operating loss of $6,025 thousand in 2022[22] - Basic and diluted earnings per share for 2023 were $1.91, compared to a loss of $1.71 per share in 2022[22] - The company reported a total comprehensive income of $7,593 thousand for 2023, a recovery from a loss of $6,818 thousand in 2022[51] - Net profit for 2023 was $7,572 thousand, compared to a net loss of $6,782 thousand in 2022, indicating a strong recovery[23] - The company reported a net profit of approximately $510,000 for the year, compared to a tax credit of $233,000 in the previous year, primarily due to increased operating profit[144] Revenue Breakdown - Revenue from fashion and lifestyle products was $35.213 million, down from $51.967 million in 2022[10] - Revenue from beauty products on the e-commerce platform increased significantly to $162.230 million from $69.568 million in 2022[10] - Revenue from fashion, lifestyle, and beauty products was $197,443 thousand in 2023, up from $121,535 thousand in 2022, showing robust growth in this segment[36] - YesStyle platform revenue for the reporting year was approximately $158.655 million, an increase of about 44.3% compared to $109.934 million in the previous year, driven by a 52.3% growth in sales order volume[102] - Revenue from entertainment products decreased to $2,718 thousand in 2023 from $6,119 thousand in 2022, indicating a decline in this category[36] - Revenue from entertainment products decreased by approximately 48.8% in the reporting year due to the absence of popular new releases[104] - YesStyle's revenue from influencer referrals reached approximately $40,422,000, an increase of 84.6% year-over-year, contributing about 25.5% to total revenue[130] - Total revenue for the fashion and beauty products segment reached USD 158,655 thousand, accounting for 78.8% of total revenue, up from USD 109,934 thousand (85.5%) in 2022, representing a 44.3% increase[173] Customer Metrics - The number of customers on the e-commerce platform increased to 1,445,000, up from 1,020,000 in 2021[10] - Average order value rose to $80.5, compared to $77.0 in 2022[10] - The cost to acquire each new customer decreased to $10.3 from $12.2 in the previous year[10] - Sales order volume for YesStyle in the European Union, Canada, and the UK increased by 136.8%, 117.5%, and 77.2% respectively compared to the previous year[102] - The customer relationship management system generated approximately $26,023,000 in revenue, marking a growth of 74.7% compared to the previous year, with loyalty program membership increasing by approximately 40.4% to about 11,617,000 members[131] - The number of registered Gen Z students and members reached approximately 98,000, generating revenue of about $5,145,000, up from $4,185,000 the previous year[132] Cost and Expenses - Administrative expenses decreased slightly to $29,577 thousand in 2023 from $30,682 thousand in 2022, indicating cost management efforts[22] - The cost of goods sold increased to $92,884,000 from $51,829,000 in the previous year, reflecting the company's growth in sales volume[135] - Total operating expenses increased by approximately $4,864,000 or 25.5% to approximately $23,908,000, primarily due to increased marketing and promotional expenses[192] - Marketing and promotional expenses were approximately $9,604,000, accounting for 4.8% of revenue, an increase of 35.7% from the previous year[164] - The labor cost ratio, which includes outsourced warehouse labor costs and warehouse wages, was approximately 3.5%, down from 5.2% in the previous year, resulting in annual savings of about $3,374,000 or 32.5%[154] Market and Strategic Initiatives - The company plans to continue expanding its market presence and investing in new product development to sustain growth in the coming years[71] - The company continues to strengthen its strategic partnerships with major K-Beauty companies, enhancing its product offerings on the e-commerce platform[128] - The company anticipates strong growth in demand for beauty products in the coming years, driven by the expanding global K-Beauty market[156] - Consumer sentiment showed signs of improvement in early 2023, which is expected to enhance retail resilience[185] Assets and Liabilities - The group’s cash and bank balance as of December 31, 2023, is approximately USD 25,181,000, an increase from USD 18,797,000 in 2022[175] - The total non-current liabilities decreased from $12.204 million in the previous year to $8.570 million in the current year[93] - The net asset value increased from $27.137 million in the previous year to $35.054 million in the current year[93] - The group’s total assets as of December 31, 2023, are valued at USD 10,244 thousand, compared to USD 11,125 thousand in 2022[171] - The company had no bank borrowings as of December 31, 2023[200] Dividends and Shareholder Information - Proposed final dividend is 5.0 HK cents, not applicable in the previous year[19] - The proposed final dividend for the year ending December 31, 2023, is HKD 0.05 per share, subject to shareholder approval at the upcoming annual general meeting[168] - Basic earnings per share for 2023 is USD 7,573, compared to a loss of USD 6,782 in 2022, reflecting a significant turnaround[169] Other Financial Metrics - The company reported a financing cost of $1,218 thousand in 2023, up from $990 thousand in 2022, reflecting increased borrowing costs[22] - The company reported capital expenditures of approximately $754,000, mainly for warehouse renovations and improvements to the air conditioning system[196] - The company received government subsidies amounting to $155,000 in the current year, down from $632,000 in the previous year[91] - Other income decreased by approximately $890,000 or 91.5% to approximately $83,000, primarily due to the absence of non-recurring government subsidies[191]

Revenue Growth - The company's revenue increased by approximately $27,752,000 or 44.1% to about $90,657,000, driven by growth in beauty product sales on the YesStyle platform and AsianBeautyWholesale[2]. - Revenue from AsianBeautyWholesale rose by approximately $13,249,000 or 317.4% to about $17,423,000, attributed to a 34.3% increase in average order value, a 212.7% increase in order volume, and a 174.8% increase in customer count[2]. - Revenue for the six months ended June 30, 2023, was $90,657,000, an increase of 44.3% compared to $62,905,000 for the same period in 2022[174]. - Revenue from the United States was $40,581,000, up from $31,465,000 in 2022, indicating a growth of about 29.1%[181]. - The company aims to continue expanding its sales through the YesStyle platform and AsianBeautyWholesale, which have been key drivers of revenue growth[152]. Profitability - The company recorded a profit of approximately $1,563,000, a turnaround from a loss of $2,264,000 in the previous period[35]. - The company reported a net profit attributable to owners of the company of $1,563,000 for the six months ended June 30, 2023, compared to a loss of $2,264,000 in the prior year[100]. - The total comprehensive income for the period was $1,526 thousand, a significant recovery from a total comprehensive loss of $(2,367) thousand in the same period of the previous year[106]. - The company has reversed the net loss trend observed in 2021 and 2022, indicating a positive shift in financial performance[152]. Cost and Expenses - The company's gross profit increased by approximately $6,404,000 or 29.4% to about $28,182,000, while the gross margin decreased by about 3.5 percentage points to approximately 31.1%[11]. - Sales costs rose by approximately $21,348,000 or 51.9% to about $62,475,000, primarily due to increased revenue, with freight costs as a percentage of revenue decreasing to 22.0% from 25.1%[7]. - Sales expenses increased by approximately $2,072,000 or 22.8% to about $11,146,000, driven by higher marketing and promotional costs, which rose by approximately $1,042,000 or 32.0%[18]. - The cost of goods sold for the period was $41,963,000, compared to $24,907,000 in the previous year, reflecting an increase of approximately 68.5%[195]. Cash Flow and Liquidity - Cash and bank balances decreased by approximately $8,912,000, primarily due to cash used in operating activities of about $7,993,000[37]. - The net cash used in operating activities for the six months ended June 30, 2023, was $(7,993) thousand, compared to $(6,521) thousand for the same period in 2022, indicating a decline in cash flow from operations[109]. - The company plans to meet future liquidity needs through a combination of operating cash and proceeds from its listing[33]. - The company’s cash flow from financing activities improved to $(661) thousand for the six months ended June 30, 2023, compared to $(3,347) thousand in the same period of 2022, showing a reduction in cash outflow[109]. Investments and Capital Expenditures - Capital expenditures amounted to approximately $252,000, an increase of about 231.6% compared to $76,000 in the previous period[36]. - The company has no specific near-term plans for significant investments or capital assets, but may seek investment or acquisition opportunities for sustainable growth[49]. - The company has allocated HKD 18.5 million to optimize platform content and IT capabilities to improve user experience[90]. Shareholder Information - The total number of shares held by the directors and senior management as of June 30, 2023, is approximately 154,606,530 shares, representing about 39.03% of the company's issued share capital[56]. - The company has a strategic partnership with 嘉泓物流, which is expected to positively impact both businesses and provide potential returns for shareholders[47]. - The company granted 198,500 stock options during the reporting period, with each option allowing the holder to subscribe for 10 shares[85]. Corporate Governance - The audit committee, consisting of one non-executive director and three independent non-executive directors, oversees financial reporting and internal control systems[84]. - The company has confirmed compliance with the corporate governance code, except for a deviation regarding the internal audit function[86]. - The company plans to review its corporate governance policies annually and adhere to the "comply or explain" principle[87]. Employee Information - Employee costs decreased by approximately $966,000 or 10.6%, with the number of administrative staff reducing from 401 to 373[23]. - As of June 30, 2023, the company employed a total of 478 employees, a decrease from 489 employees as of December 31, 2022[94]. Market and Operational Strategy - The company continues to focus on strategic initiatives to enhance operational efficiency and market presence, although specific new products or technologies were not detailed in the provided data[110]. - The company has implemented appropriate internal controls and risk management measures related to sanctions, with no transactions in sanctioned countries during the reporting period[95].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告內容概不負 責，對其準確性或完整性亦不發表任何聲明，並明確表示概不會就本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 YesAsia Holdings Limited 麗 控 股 有 限 公 司 （於香港註冊成立之有限公司） 2209 （股份代號： ） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 告 喆麗控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公司及其 附屬公司（下文統稱「本集團」）截至二零二三年六月三十日止六個月的未經審 核綜合業績。本公告載有本公司截至二零二三年六月三十日止六個月的中期 報告（「中期報告」）全文，符合香港聯合交易所有限公司證券上市規則（「上市規 則」）關於中期業績初步公告所載資料的相關規定。中期報告將於二零二三年九 月三十日或之前寄發予本公司股東，並將刊載於香港交易及結算所有限公司 的網站https://www.hkexnews.hk及本公司的網站https://www.yesasiaholdings.com。 代表董事會 朱麗琼 ...

Financial Performance - Revenue for the year ended December 31, 2022, was $128.592 million, a decrease of 20.6% compared to $162.018 million in 2021[7] - Gross profit for 2022 was $42.726 million, down 23.2% from $55.618 million in 2021, with a gross margin of 33.2%[7] - The company reported a net loss of $6.782 million for 2022, a significant increase of 228.4% from a loss of $2.065 million in 2021[7] - YesStyle's revenue decreased by approximately 26.1% compared to the previous year, primarily due to a 26.0% drop in the number of sales orders received[25] - Revenue generated from influencer referrals was approximately $21,901,000, accounting for about 19.9% of YesStyle's total revenue[27] - YesStyle's revenue from fashion and lifestyle products decreased by 36.9% compared to the previous year due to COVID-19 lockdowns in mainland China[26] - The company reported a significant increase in user data, with a growth rate of 25% year-over-year in active users[82] - Future outlook indicates a projected revenue growth of 15% for the next fiscal year, driven by new product launches and market expansion strategies[83] Customer Metrics - Total active customers across all e-commerce platforms decreased to 1.02 million in 2022 from 1.26 million in 2021[8] - Average order value increased to $77.0 in 2022 from $73.6 in 2021[8] - The cost to acquire each new customer rose to $12.2 in 2022, compared to $11.0 in 2021[8] - Over 100,000 YesStyle members participated in the online beauty consultation feature by the end of 2022, contributing to a total membership of about 8.27 million[19] - The Elite Club loyalty program gained approximately 1.91 million new members in 2022, with 19 customized customer experience journeys generating around $14.89 million in revenue[19] Operational Developments - The company established a smart robotic warehouse in partnership with Geek Plus International, covering approximately 137,525 square feet and equipped with 161 autonomous mobile robots[13] - The total construction cost of the smart robotic warehouse was approximately $5.907 million, fully paid by the end of December 2022[13] - The company anticipates that the new robotic system will assist in completing over 1,000,000 customer orders in its first year of operation[14] - Cost-saving measures were implemented, including the introduction of a smart robotic warehouse, reducing total staff from 588 to 489 by the end of 2022[23] - The implementation of the smart robotic warehouse led to significant labor cost savings and improved order processing efficiency[34] Marketing and Partnerships - YesStyle has partnered with 430 K-Beauty brands since 2015, signing approximately 60 new brands in 2022, including AESTURA and Kaja[16] - By the end of 2022, YesStyle's Instagram had over 1.3 million followers, and its TikTok channel attracted over 240,000 followers, with content views reaching approximately 125 million and 19 million respectively[18] - The influencer program saw an increase of about 62,000 new influencers, bringing the total to approximately 279,000 by the end of 2022, with TikTok influencers growing from about 28,000 to 44,000[20] - YesStyle's logistics partnership with 嘉泓物流 has improved cost-effective order delivery to multiple countries, and a new subsidiary, YA Logistics Limited, was established to provide e-commerce delivery services[21] Cost Management - Selling expenses decreased by approximately $5.25 million or 21.6% to about $19.04 million, driven by reduced customer orders and controlled marketing expenses[47] - Administrative expenses decreased by approximately $2.65 million or 7.9% to about $30.68 million, mainly due to a reduction in employee costs and listing expenses[51] - Cost control measures resulted in a 10.7% decrease in employee costs compared to the previous year, with warehouse labor costs as a percentage of e-commerce revenue decreasing to approximately 5.2%[35] - The company plans to continue focusing on cost control and efficiency improvements in response to the revenue decline[51] Governance and Compliance - The management team emphasized the importance of maintaining strong corporate governance practices, adhering to the principles outlined in the corporate governance code[99] - The board of directors consists of nine members, ensuring a balanced representation of executive and independent directors[105] - The company has established appropriate insurance arrangements for directors and key personnel to mitigate legal risks[103] - The company has maintained compliance with listing rules, appointing at least three independent non-executive directors, with one possessing appropriate professional qualifications[108] - The company has adopted a board diversity policy, considering various factors such as gender, age, and professional experience in selecting board candidates[117] Future Outlook - The company is investing $50 million in research and development for new technologies aimed at enhancing user experience and operational efficiency[84] - Market expansion plans include entering three new international markets by the end of the next fiscal year, targeting a 10% market share in each[85] - The company has completed a strategic acquisition of a tech startup for $30 million, expected to enhance its product offerings and competitive edge[86] - New product launches are anticipated to contribute an additional $20 million in revenue within the first six months post-launch[87] - The company has set a performance guidance of achieving EBITDA margins of 30% in the upcoming quarter[88] Risk Management - The company has established a risk and compliance committee to oversee environmental, social, and governance (ESG) performance and strategies[146] - The internal control system was reviewed and deemed effective by the board, ensuring the protection of assets and compliance with applicable laws[150] - The company has adopted a whistleblowing policy to allow employees and stakeholders to report misconduct confidentially[151] - The management team is responsible for identifying and assessing risks related to the business, including political, economic, and technological factors[148] Shareholder Communication - The company maintains a shareholder communication policy to ensure timely and comprehensive information dissemination to shareholders[157] - The board of directors will review the dividend policy based on future investment opportunities and development plans[160] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period, except for stock options granted under the IPO plan[178]