Yesasia Holdings Limited · HKEX:2209
Yesasia — FY2024 Earnings Presentation
45 slides from Yesasia's earnings presentation, March 2025
Slide 1: YesAsia Holdings Limited 2024 Annual Results
YesAsia Holdings Limited 喆麗控股有限公司 Stock code: 02209.HK 2024 Annual Results
Slide 2: Disclaimer
DISCLAIMER THESE MATERIALS HAVE BEEN PREPARED BY YESASIA HOLDINGS LIMITED (THE "COMPANY") SOLELY FOR USE AT THIS PRESENTATION AND ARE NOT FOR PUBLIC DISSEMINATION. THESE SLIDES AND ANY OTHER MATERIALS USED IN THIS PRESENTATION ARE STRICTLY CONFIDENTIAL AND MUST BE TREATED AS SUCH BY THE ATTENDEES TO
Slide 3: Agenda
AGENDA 1 Executive Summary 2 2024 Annual Highlights 3 Financial Performance 4 Industry Potential & Business Strategies 5 Appendix
Slide 4: Executive Summary
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Slide 5: Leap Ahead in Global Market
LEAP AHEAD IN GLOBAL MARKET Record High Results Global Expansion B2B Development • Revenue (+71.7%) • Non-Core Market has become the main • ABW Revenue (+100.2%) 2024: US$345.8 million revenue source (+117.0%), outpacing the 2024: US$77.7 million 2023: US$201.3 million revenue growth of core-English
Slide 6: 2024 Annual Highlights
2024 Annual Highlights & |
Slide 7: Robust Growth in Annual Results
ROBUST GROWTH IN ANNUAL RESULTS Revenue Net Profit Non-Core Market Revenue +71.7% +151.5% +117.0% US$345.78 million US$19.04 million US$ 173.41 million Revenue Generated by B2C Platform Sales B2B Platform Sales Influencer Program +67.4% +100.2% +81.3% US$265.64 million US$77.67 million US$73.29 mill
Slide 8: Financial Performance
Financial Performance
Slide 9: Profit and Loss Highlights
PROFIT AND LOSS HIGHLIGHTS US$’000 1H 2024 2H 2024 2024 2023 Change Revenue 163,348 182,434 345,782 201,339 +71.7% Gross profit 50,192 55,194 105,386 62,698 +68.1% Gross profit margin 30.7% 30.3% 30.5% 31.1% -0.6pp Profit for the period / year 11,107 7,935 19,042 7,572 +151.5% Net profit margin 6.8%
Slide 10: Revenue Analysis: Consolidated
REVENUE ANALYSIS: CONSOLIDATED Revenue Revenue by Regions US$’000 % as of total revenue 2023 | 2024 345,782 US 43.5% | 33.7% 201,339 2H: 182,434 UK/ EU/ EEA/ Switzerland 128,592 34.6% | 38.5% 1H: 163,348 Latin America 1.1% | 3.7% Oceania 4.8% | 3.7% Rest of the world Middle East 2022 2023 2024 11.8%
Slide 11: Revenue Analysis: YesStyle Platforms
REVENUE ANALYSIS: YesStyle PLATFORMS Contributing 76.8% of Total Revenue Revenue by Regions US$’000 % as of total revenue 2023 | 2024 265,635 US 41.1% | 30.1% 158,655 2H: 140,503 UK/ EU/ EEA/ Switzerland 109,934 38.7% | 44.2% 1H: 125,132 Latin America 1.3% | 4.7% Oceania 5.1% | 4.0% Rest of the worl
Slide 12: Revenue Analysis: AsianBeautyWholesale
REVENUE ANALYSIS: AsianBeautyWholesale Contributing 22.5% of Total Revenue Revenue by Regions US$’000 % as of total revenue 2023 | 2024 77,670 US 54.5% | 45.8% 2H: 40,719 38,788 UK/ EU/ EEA/ Switzerland 20.2% | 19.9% Latin America 1H: 36,951 0.1% | 0.3% Oceania 11,601 3.6% | 2.6% Middle East Rest of
Slide 13: Profits Analysis
PROFITS ANALYSIS Gross Profit and Gross Profit Margin Net Profit and Net Profit Margin US$’000 US$’000 5.5% 3.8% 33.2% 31.1% 30.5% 19,042 7,572 2022 2023 2024 105,386 (6,782) 62,698 Basic Earnings per Share (EPS) 42,762 US$ Cents 2022 2023 2024 US$’000 2022 2023 2024 4.74 YesStyle Platforms 38,044 5
Slide 14: Cost Analysis
COST ANALYSIS Cost of Sales as a Percentage of Revenue % as of total revenue 2023 | 2024 Freight Charges - Trend and Percentage of Revenue (US$’000) 22.1% 21.1% Freight charges 72,953 Product cost 44,487 46.2% | 47.9% 22.1% | 21.1% 2023 2024 Revenue Trend by Business Unit and Growth Rate (US$’000) 7
Slide 15: Expenses Analysis
EXPENSES ANALYSIS Expenses as a Percentage of Revenue Selling Expenses % as of total revenue 14.7% 2023 | 2024 11.5% 11.9% 12.2% Marketing and promotion fees Outsourced fulfilment fee -* | 0.1% 0.6% 0.4% 4.8% | 5.4% Web content translation fee -* | 0.1% Finance costs Adminstrative expenses Selling e
Slide 16: Cash Conversion Cycle Analysis
CASH CONVERSION CYCLE ANALYSIS 2024 2023 Inventory Turnover Days1 84 64 Payables Turnover Days2 12 13 Receivables Turnover Days3 2 3 Gearing Ratio4 43.0% 34.8% Return on Assets 15.8% 10.2% Return on Equity 35.9% 21.6% Despite increase in inventory level and revenue, inventories are kept in good qual
Slide 17: Financial Position
FINANCIAL POSITION US$’000 As at 31 December 2024 As at 31 December 2023 Current Assets Inventories 55,097 20,849 Trade and other receivables 9,971 5,857 Prepayments and deposits 5,969 3,018 Bank and cash balances* 15,529 25,181 Current Liabilities Trade and other payables and accruals 22,665 12,606
Slide 18: Industry Potential & Business Strategies
Industry Potential & Business Strategies
Slide 19: Robust Global Demand for K-Beauty Products
ROBUST GLOBAL DEMAND FOR K-BEAUTY PRODUCTS Market Value Maintains Positive Momentum Gaining Popularity Across the Globe K-Beauty products market size K-Beauty products shipment Overseas shipment of 2024 reached US$25.98 billion US$10.2 billion representing a YoY growth of 20% US$15.20 billion E-comm
Slide 20: Market Diversification Efforts Yield Fruitful Results
MARKET DIVERSIFICATION EFFORTS YIELD FRUITFUL RESULTS The Group’s B2C and B2B channels are reaching millions of customers across 50+ countries and regions. Core English-speaking Markets Non-core Markets 49.8% of total revenue 50.2% of total revenue rising from 39.7% in 2023 Sales revenue Sales reven
Slide 21: Dual Logistics Hubs to Meet Booming Demand
DUAL LOGISTICS HUBS TO MEET BOOMING DEMAND The deployment of the autonomous mobile robotics (“AMR”) system successfully achieved and demonstrated 1.5 times increase in number of shipments.1 Hong Kong’s largest AMR warehouse since October 2022 in Tsing Yi Additional logistics hub and 2nd AMR fulfillm
Slide 22: Overseas Warehouses Ensure Supply Chain Flexibility
OVERSEAS WAREHOUSES ENSURE SUPPLY CHAIN FLEXIBILITY The global logistics network enables agile supply chain adjustments, such as bulk shipping from South Korea to US hubs for local fulfillment. Warehouse in United States Warehouses in Europe California, United States Sheffield, United Kingdom Hahn,
Slide 23: B2C Platform Continues Momentum
B2C PLATFORM CONTINUES MOMENTUM Key Performance Seamless Access for Global Consumer Base Revenue (US$’000) Continued to be the most visited platform for 265,635 Asian beauty products in major overseas markets2 158,655 109,934 2022 2023 2024 US, Canada, Australia, UK, France, Germany, Italy, Netherla
Slide 24: B2C Platform Continues Momentum: Mobile App and Campaigns
B2C PLATFORM CONTINUES MOMENTUM YesStyle Mobile App Seasonal Campaigns to Engage Global Beauty Enthusiasts • 3 mega sales campaigns launched in 2024 were significant sales boosters, lifting average Approx. 73.3 million sales quantity up by between 300% to over 2,000% Revenue generated +81.3% YoY 16.
Slide 25: Leveraging Social Media to Boost B2C Business
LEVERAGING SOCIAL MEDIA TO BOOST B2C BUSINESS The ongoing global boom in the K-beauty market is fueled by digitally savvy, young consumers who favor online marketplaces, social media platforms, and unique experiences. Effective Social Media Marketing Strategies Capture the Rise of Short-Form Videos
Slide 26: Leveraging Social Media: Influencer Program Performance
LEVERAGING SOCIAL MEDIA TO BOOST B2C BUSINESS Worldwide influencers can join the YesStyle Influencer Program and earn commissions on successful sales. The Program helps save promotion costs and drive sales performance. Key Performance Latest Movement Revenue generated by influencers: trend and Total
Slide 27: Leveraging Social Media: YesStyle Influencer Program
LEVERAGING SOCIAL MEDIA TO BOOST B2C BUSINESS YesStyle Influencer Program Tier 1 (KOL Initiative) • 1,520 KOLs across 31 countries worldwide • Collectively reach 380 million subscribers on YouTube • 598 million followers in total on TikTok and Instagram • Achieved 8,100 video mentions YesStyle in 20
Slide 28: Brand Influencer Account Management and Product Seeding
LEVERAGING SOCIAL MEDIA TO BOOST B2C BUSINESS Brand Influencer Account Management Influencer Product Seeding Program The Program aims to • Enables brands to leverage global influencer marketing • Eliminate manual work and shipping costs associated with product seeding Key achievements (February 2024
Slide 29: Elevating K-Beauty Brands for Shared Growth
ELEVATING K-BEAUTY BRANDS FOR SHARED GROWTH The authorized distributor of 466 K-Beauty brands for global B2C and B2B channels, serving as the go-to e-commerce gateway for leading Asian brand partners seeking to reach audience worldwide. 29
Slide 30: Elevating K-Beauty Brands: Cosmoprof and Key Product Program
ELEVATING K-BEAUTY BRANDS FOR SHARED GROWTH Cosmoprof Worldwide Bologna: The World’s Largest Beauty Fair YesStyle Key Product Program Participated in the 56th edition of Cosmoprof Worldwide Bologna, bringing 15 top-tier K-Beauty brands to this prestigious global event • Exposure on YesStyle Social M
Slide 31: AI-Powered Customer Journey
AI-POWERED CUSTOMER JOURNEY The CRM system enhances sales performance by collecting and analyzing customer data, leveraging AI for real-time segmentation to deliver tailored experiences with high-quality Asian beauty products. High Relevance of CRM Journeys Key Performance Revenue generated by CRM s
Slide 32: B2B Platform as Future Growth Driver
B2B PLATFORM AS FUTURE GROWTH DRIVER Key Performance Business Updates Revenue (US$’000) Capture soaring wholesale demand 77,670 • A corporate sales team has established to facilitate wholesale orders, which are multiple times 38,788 bigger than retail orders 11,601 • Mr. Howon SONG, an experienced K
Slide 33: Appendix
Appendix
Slide 34: Consolidated Statement of Profit or Loss
CONSOLIDATED STATEMENT OF PROFIT OR LOSS (US$’000) 2023 2024 REVENUE 201,339 345,782 Cost of sales (138,641) (240,396) Gross profit 62,698 105,386 Other income and other gains and losses 83 1,296 Selling expenses (23,908) 42,121 Administrative expenses (29,577) 39,761 Reversal of impartment losses f
Slide 35: Consolidated Statement of Profit or Loss (EPS)
CONSOLIDATED STATEMENT OF PROFIT OR LOSS (US cents per share) 2023 2024 Earnings per share Basic 1.91 4.74 Diluted 1.91 4.60 35
Slide 36: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (US$’000) 2023 2024 Non-current assets Property, plant and equipment 4,320 3,143 Right-of-use assets 10,595 21,669 Financial assets at fair value through profit or loss (“FVTPL”) 1,732 1,397 Prepayments and deposits 1,623 4,857 Total non-current assets 18
Slide 37: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (US$’000) 2023 2024 Current liabilities Trade and other payables and accruals 12,606 22,665 Contract liabilities 12,735 16,262 Provisions 371 392 Lease liabilities 4,715 8,146 Current tax liabilities 434 3,517 Total current liabilities 30,861 50,982 Net c
Slide 38: Consolidated Statement of Financial Position
CONSOLIDATED STATEMENT OF FINANCIAL POSITION (US$’000) 2023 2024 Capital and reserves Share capital 20,640 24,182 Reserves 14,415 28,822 Equity attributable to owners of the Company 35,055 53,004 Non-controlling interest (1) (14) Total equity 35,054 52,990 38
Slide 39: Shareholding Structure
SHAREHOLDING STRUCTURE Number of issued shares: 410,639,092 shares (As of 28 March 2025) PCCW Mr. Lui Pak Shing, Stonepath Group, Other Public Mr. Lau Kwok Chu1 Ms. Chu Lai King2 e-Ventures Limited Michael Inc. Shareholders 30.34% 7.27% 9.67% 7.64% 6.33% 38.75% 1. Mr. Lau Kowk Chu (劉國柱), Founder, Ex
Slide 40: Visionary Leadership Team
VISIONARY LEADERSHIP TEAM LAU Kwok Chu, Joshua (劉國柱) CHU Lai King, Priscilla (朱麗琼) CHU Kin Hang (朱健恒) NG Sai Cheong, Curtis (伍世昌) Founder, CEO and Founder, Chair of the Board and Executive Director and Chief Financial Officer and Executive Director VP of Operations VP of Content Company Secretary •
Slide 41: Visionary Leadership Team
VISIONARY LEADERSHIP TEAM KIM In Sook FUNG Man Yee (馮敏儀) WAN Siu Chung (溫兆聰) Erik HOHMANN VP of Consumer Business and VP of Business Development and GM of VP of Information Technology VP of Marketing Co-Head of the YesStyle South Korean Office business unit • Joined the Group in June 2000 as • Joine
Slide 42: Visionary Leadership Team
VISIONARY LEADERSHIP TEAM TSANG Sau Lin (曾秀蓮) LAM Wai Kong, Arthur (林偉江) SONG Howon VP of Human Resources and Administration VP of Strategy and Planning CEO of AsianBeautyWholesale • Joined the Group in October 2019, serving as Director until • Joined the Group in 2025 • Joined the Group in 2025 Apr
Slide 43: Corporate Milestones
CORPORATE MILESTONES Completed corporate Setup offline reorganization, which branch in Berlin saw incorporation of for YesStyle YesAsia Holdings Limited in Hong Kong Setup corporate YesStyle App team for ABW in March 2005, and it downloads reached 3 Joshua Lau and became the million The Group is lis
Slide 44: Q&A
Q&A
Slide 45: Thank You
THANK YOU CONTACT US Investor Enquiries: SPRG_YesAsia@sprg.com.hk Website: https://www.yesasiaholdings.com YesAsia Holdings Limited 喆麗控股有限公司 Stock code: 02209.HK