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） （股份代號：2209） 截至二零二二年十二月三十一日止年度 年度業績公告 喆麗控股有限公司（「本公司」、「我們」或「吾等」）董事（「董事」及各為一名「董事」） 會（「董事會」）欣然宣佈本公司及其附屬公司（統稱「本集團」）截至二零二二年十二 月三十一日止年度（「報告年度」）經審核綜合年度業績（「年度業績」）（連同截至二 零二一年十二月三十一日止年度（「上年度」）之經審核綜合比較數字）。 財務摘要 截至十二月三十一日止年度 二零二二年 二零二一年 千美元 千美元 變動 收益 128,592 162,018 (20.6%) 毛利 42,726 55,618 (23.2%) 毛利率(1) 33.2% 34.3% (1.1個百分點) 年內虧損 (6,782) (2,065)(2) (228.4%) ...

Financial Performance - The company's unaudited consolidated revenue for the six months ended June 30, 2022, was approximately $62.9 million, a decrease of about $25.5 million or 28.8% compared to $88.4 million for the same period in 2021[23]. - The company reported a loss of $2.3 million for the period, compared to a profit of $0.5 million in the previous year[15]. - The group achieved a reduction in sales costs to about $41.1 million, down 28.6% from $57.6 million in the prior period[43]. - The group reported a gross profit of $20.6 million from entertainment products, with a gross profit margin of 35.4% for the six months ended June 30, 2022, compared to $30.1 million and 35.6% in 2021, representing a decrease of 31.5%[46]. - The company reported a total comprehensive loss of $(2,367,000) for the six months ended June 30, 2022, compared to a total comprehensive income of $465,000 for the same period in 2021[136]. Revenue Breakdown - Revenue from fashion and lifestyle products was $26.8 million, down from $42.0 million, a decrease of approximately 36.2%[16]. - Revenue from beauty products decreased to $31.5 million from $42.6 million, a decline of about 26%[16]. - Revenue from merchandise sales recognized at a point in time was $55,566 thousand, down from $80,689 thousand year-on-year, representing a decline of approximately 31%[155]. - Revenue from the United States decreased to $31,465,000, down 18% from $38,443,000 in the previous year[161]. - Revenue from European countries totaled $11,693,000, a decline of 56% from $26,839,000 in the prior year[161]. Customer Metrics - The total number of active customers across all e-commerce platforms decreased to 0.6 million from 1.0 million year-over-year[16]. - The average order value dropped to $63.4 from $74.4, reflecting a decline of approximately 14%[16]. - The number of downloads for the YesStyle mobile app decreased to 488,000 from 816,000, a drop of approximately 40%[18]. - YesStyle Elite Club membership grew to approximately 7.2 million, a historical high, reflecting a 42.3% increase[29]. Cost and Expenses - The cost to acquire each new customer increased to $12.0 from $10.7, representing a rise of about 12.1%[16]. - Sales expenses decreased to approximately $9.1 million for the six months ended June 30, 2022, down about 31.9% from $13.3 million in the same period of 2021[49]. - Administrative expenses were approximately $15.1 million for the six months ended June 30, 2022, a decrease of about 9.0% compared to $16.6 million for the same period in 2021[55]. - Marketing and promotional expenses decreased by approximately $1.5 million or 30.8% to about $3.3 million for the six months ended June 30, 2022[49]. Assets and Liabilities - Total non-current assets increased to $27,268,000 as of June 30, 2022, compared to $17,682,000 as of December 31, 2021, representing a growth of 54.5%[132]. - Current assets decreased to $46,793,000 as of June 30, 2022, down from $52,205,000 as of December 31, 2021, a decline of 10.7%[132]. - Total liabilities increased to $42,174,000 as of June 30, 2022, from $33,200,000 as of December 31, 2021, marking a rise of 27.0%[132]. - The company's total equity decreased to $31,887,000 as of June 30, 2022, down from $36,287,000 as of December 31, 2021, reflecting a decline of 12.1%[132]. Cash Flow and Financing - Net cash used in operating activities was $(6,521,000) for the six months ended June 30, 2022, compared to $(3,988,000) for the same period in 2021, indicating a worsening cash flow situation[139]. - The company has no outstanding bank borrowings as of June 30, 2022, and expects to meet its liquidity needs through operating cash and proceeds from global offerings[65]. - The company utilized $66.7 million of the net proceeds from its global offering, with $48.2 million remaining as of June 30, 2022[124]. Shareholder Information - The company did not declare an interim dividend for the six months ended June 30, 2022, compared to a dividend of 5.0 HK cents per share for the same period in 2021[76]. - As of June 30, 2022, Mr. Liu holds 123,047,980 shares, representing approximately 31.08% of the company's issued share capital[83]. - Ms. Zhu directly holds 29,235,550 shares and has options to subscribe for 600,000 shares, contributing to a combined ownership of 152,883,530 shares, or about 38.61% of the issued share capital[84]. Stock Options and Employee Incentives - The 2005 Share Option Plan allows options to be exercised for up to 10 years from the grant date, with all unexercised options remaining valid after the scheme's expiration[92]. - The company aims to provide employees with investment opportunities in the company through the stock option plan[95]. - The total number of shares that can be issued upon the exercise of all options granted under the post-IPO share option plan is 39,539,079 shares, which represents a 10% cap of the shares issued on the date trading commenced on the stock exchange[106]. Government Support and Subsidies - The group received a one-time government subsidy of approximately $0.4 million under the 2022 Employment Support Scheme during the reporting period[48]. - Government subsidy income increased significantly to $421 thousand from $5 thousand year-on-year, reflecting a substantial growth[156].

Financial Performance - Total revenue for the year ended December 31, 2021, was $162.0 million, a decrease of 6.5% from $173.3 million in 2020[10] - Gross profit was $55.6 million with a gross margin of 34.3%, down from $61.9 million and a gross margin of 35.7% in the previous year, representing a decline of 10.1% and a decrease of 1.4 percentage points respectively[10] - Revenue from fashion and lifestyle products was $82.4 million, a slight decrease from $84.2 million in 2020[12] - Revenue from beauty products was $73.1 million, down from $79.0 million in the previous year[12] - The group reported a net loss of approximately $2.1 million for the year, compared to a net profit of approximately $11.2 million in the same period last year, primarily due to a decrease in gross profit of about $6.3 million and an increase in employee costs of approximately $2.7 million[77] - Revenue decreased from approximately $173.3 million in 2020 to about $162.0 million in 2021, a decline of approximately $11.3 million or 6.5%[56] - The cost of sales for the year ended December 31, 2021, was approximately $106.4 million, a decrease of about $5.0 million or 4.5% from $111.4 million in 2020[60] - Total administrative expenses increased to approximately $33.3 million in 2021 from $29.7 million in 2020, an increase of about $3.6 million or 12.2%[70] - Sales expenses for the year ended December 31, 2021, were approximately $24.3 million, an increase of about $2.8 million or 12.7% from $21.6 million in 2020[67] - Other income and losses decreased from approximately $3.2 million in 2020 to about $0.5 million in 2021, a decline of approximately $2.6 million or 83.9%[66] Customer Metrics - Active customers across all e-commerce platforms totaled 1.26 million, down from 1.39 million in 2020[12] - Average order value increased to $73.6, compared to $72.8 in 2020[12] - Customer acquisition cost rose to $11.0 per new customer, up from $7.1 in the previous year[12] - The number of YesStyle Elite Club members reached 6.4 million by the end of 2021, with 2.3 million new members registered that year[25] - YesStyle mobile app downloads totaled 1.497 million, a decrease from 1.706 million in 2020[14] - YesStyle's app contributed 35.9% to annual revenue in 2021, up from approximately 31.7% in 2020, with total app downloads reaching about 6.2 million[28] Market Trends - The online fashion retail market in YesStyle's six key countries is projected to grow at approximately 21.1% annually from 2021 to 2025, reaching about $803.9 billion in total consumer spending[20] - YesStyle's K-Beauty business generated approximately $73.1 million in annual revenue in 2021, up from a low base in 2015, with the online K-Beauty retail market in six key countries reaching $5 billion in 2020[24] - The online K-Beauty retail market is expected to grow at an annual rate of approximately 22.9% from 2021 to 2025[23] Strategic Initiatives - In response to COVID-19 challenges, the company signed a memorandum of understanding with Kerry Logistics to provide logistics services at better rates, significantly reducing shipping costs[29] - The company plans to implement an AI robotic warehouse by Q3 2022 to reduce labor costs and improve delivery capacity, leasing a warehouse of approximately 137,525 square feet[30] - YesStyle launched a student program in December 2021 to attract students and Gen Z consumers, offering exclusive discounts and commissions to student organizations[28] - The company is exploring new business opportunities in the recovering Hong Kong music product market, leveraging the success of the MIRROR concert Blu-ray[55] - The company aims to focus on cost savings and efficiency improvements in response to ongoing economic uncertainties and rising logistics costs[53] Investments and Financial Position - The group’s cash and bank balance increased to approximately $36.5 million, up by about $8.0 million from $28.5 million in the previous year[82] - Capital expenditures for the year amounted to approximately $1.6 million, a decrease of about $0.7 million from $2.3 million in the previous year[81] - The group had no bank borrowings as of December 31, 2021, compared to $493,000 in borrowings the previous year[83] - The debt-to-equity ratio improved from approximately 64.5% to 35.2% due to an increase in total equity from the issuance of shares[90] - The group made a significant investment of approximately $1.4 million in 1,100,000 shares of Jia Hung Logistics, representing about 0.40% of its issued share capital[92] Governance and Management - The company has adhered to the corporate governance code since its listing, with the exception of a deviation from a specific code provision[141] - The chairman and CEO roles are held by different individuals to ensure effective division of responsibilities and balance of power[150] - The company has implemented appropriate directors' and officers' liability insurance for potential legal claims against directors and key personnel[144] - The executive committee, composed of all executive directors, is responsible for managing the company's daily operations and administrative matters[143] - The company has a diverse management team with extensive experience in various sectors, enhancing its operational capabilities[135] - The company has maintained a board diversity policy since its listing, with 2 out of 9 board members being female as of the reporting year[190] Committees and Meetings - The company has established an audit committee, a remuneration committee, and a nomination committee to oversee specific matters[157] - The Audit Committee, formed on August 17, 2020, consists of four members, including one non-executive director and three independent non-executive directors, and has held two meetings since the listing date[178][179] - The Remuneration Committee, also established on August 17, 2020, comprises four members and has conducted three meetings since the listing date, reviewing the existing remuneration policies and evaluating the performance of directors[183][188] - The Nomination Committee is responsible for reviewing the board's structure and composition, and it evaluates the independence of independent non-executive directors[189] - The board is required to meet at least quarterly, and additional meetings can be held as necessary[157] Employee Metrics - Employee costs increased to approximately $19.2 million in 2021, representing 57.7% of total administrative expenses, up from $16.5 million or 55.5% in 2020[74] - As of December 31, 2021, the company employed 588 staff, an increase from 577 in 2020[100] - The company focuses on competitive compensation packages, including basic salary, bonuses, and performance-based benefits[100] - Employee training and talent development programs are in place to enhance efficiency and retention[100] Compliance and Risk Management - The company has implemented appropriate internal controls and risk management measures related to sanctions, with no transactions in sanctioned countries[104] - The company has not planned any new activities in sanctioned countries or with sanctioned individuals[104] - The company has maintained a conservative approach to financial risk management, avoiding high leverage or speculative derivatives[89]

Revenue Growth - Revenue for the six months ended June 30, 2021, increased by 28.3% to approximately $88.4 million compared to $68.9 million for the same period in 2020[10]. - E-commerce revenue continued to grow by approximately 36.0% during the same period[9]. - YesStyle's revenue increased by approximately 36.3% to about $81.1 million for the six months ended June 30, 2021, compared to approximately $59.5 million in the same period of 2020, primarily due to an increase in customer numbers[21]. - Revenue from fashion and lifestyle products reached $42.0 million, while beauty products generated $42.6 million[13]. - Revenue from AsianBeautyWholesale increased by approximately 46.7% to about $3.5 million for the six months ended June 30, 2021, compared to approximately $2.4 million in the same period of 2020[22]. - YesAsia platform's revenue increased by approximately 20.2% to about $3.0 million for the six months ended June 30, 2021, driven by the sales of new entertainment products[25]. - Revenue from the United States was $38,443 thousand, a 49.7% increase from $25,659 thousand in 2020[157]. Customer Metrics - Active customers on all e-commerce platforms increased to approximately 1.0 million, up from 0.7 million in the previous year[13]. - The number of influencers on the YesStyle platform increased by approximately 71,000, contributing to a 109.1% year-over-year growth in revenue from influencers[9]. - The number of influencers reached approximately 161,000 by June 30, 2021, an increase of about 71,000 or 78.9% from the beginning of the reporting period[21]. - The average order value increased to $74.4 from $72.2 in the previous year[13]. - The average order value increased to approximately $74.4 for the reporting period[31]. Profitability and Expenses - Gross profit margin improved by 1.4 percentage points to 34.9%[10]. - Gross profit increased by approximately 33.4% to about $30.8 million for the six months ended June 30, 2021, compared to approximately $23.1 million in the same period of 2020[37]. - Net profit decreased by 77.7% from approximately $2,306,000 in 2020 to approximately $515,000 in 2021, primarily due to increased marketing expenses and one-off listing costs[50]. - Selling expenses rose by approximately 56.8% to $13,315,000 in 2021 from $8,492,000 in 2020, driven by increased marketing and promotional costs[43]. - Administrative expenses increased by approximately 38.1% to $16,600,000 in 2021 from $12,100,000 in 2020, mainly due to one-off listing expenses and increased employee costs[45]. - The company reported a pre-tax consolidated profit of $993 thousand for the six months ended June 30, 2021, down from $2,990 thousand in the same period of 2020, reflecting a decrease of 66.8%[154]. Cash Flow and Financial Position - Cash and cash equivalents decreased to approximately $22,800,000 as of June 30, 2021, down from $28,500,000 at the end of 2020, primarily due to net cash outflows from operating activities[58]. - Net cash used in operating activities for the six months ended June 30, 2021, was $(3,988,000), a significant decline from $6,361,000 in the same period of 2020[131]. - The company raised $1,419,000 from issuing shares during the six months ended June 30, 2021, compared to $462,000 in the same period of 2020, indicating a significant increase of approximately 206.5%[131]. - The company's equity increased to approximately $24.93 million as of June 30, 2021, compared to $22.45 million at the end of 2020[125]. - The company’s total equity as of June 30, 2021, was $24,926,000, compared to $15,773,000 as of June 30, 2020, reflecting an increase of approximately 58.0%[128]. Dividends and Shareholder Information - The company approved an interim dividend of HKD 0.05 per share, totaling approximately $2.6 million, to be paid to shareholders listed on the register as of September 27, 2021[72]. - The company declared an interim dividend of HKD 0.05 per share for the six months ended June 30, 2021, compared to no dividend in the same period of 2020[166]. - PCCW e-Ventures Limited holds a beneficial interest of 39,704,030 shares, representing approximately 10.03% of the company's issued share capital[81]. - Pacven Walden Management II, L.P. has a controlled interest in 32,458,590 shares, accounting for 8.20% of the total issued shares[82]. - Stonepath Group, Inc. directly holds 26,000,000 shares, which is 6.57% of the company's issued share capital[82]. Corporate Governance and Compliance - The audit committee, consisting of one non-executive director and three independent non-executive directors, is responsible for reviewing and supervising the financial reporting process and internal control systems[108]. - The company has complied with the corporate governance code since the date of listing and will review its corporate governance policies annually[111]. - The company has adopted the standard code of conduct for securities transactions by directors as per the listing rules, which has been confirmed by all directors since the listing date[112]. Capital Expenditures and Investments - Capital expenditure for logistics and IT enhancements amounted to approximately $1.1 million during the reporting period[19]. - The company has no significant investments during the reporting period[66]. - The company had no major acquisitions or disposals of subsidiaries or associated companies during the six months ended June 30, 2021[67]. Employee and Staffing - The company employed 637 staff as of June 30, 2021, an increase from 505 staff as of June 30, 2020[75]. - Employee benefit expenses of $12,133,000, an increase of 27.7% from $9,481,000 in the same period last year[165]. Risk Management and Liabilities - The company has implemented appropriate internal controls and risk management measures related to sanctions, with no transactions conducted with sanctioned countries or individuals during the reporting period[113]. - The contingent liabilities related to guarantees issued to payment platform companies and suppliers amounted to approximately $26,000 as of June 30, 2021, down from $80,000 for the six months ended June 30, 2020[63].