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]

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]