YesAsia Holdings (02209) announces a profit increase, expecting a net profit of not less than 22 million US dollars in 2025, representing a year-on-year increase of approximately 15.8%.

YesAsia Holdings (02209) announced that the group is expected to achieve unaudited comprehensive income of approximately USD 500 million in 2025 (reporting year), an increase of about USD 153 million or 44.1% compared to the previous year (USD 347 million, note). This is mainly attributed to the continued market diversification of YesStyle and an increase in the number of new customers for AsianBeautyWholesale in both online and offline channels. The group has also increased its marketing efforts, including online marketing, influencer marketing, Key Opinion Leader (KOL) programs, and promotional activities. As a result, marketing expenses for the reporting year increased to approximately USD 27.1 million (from USD 18.8 million in the previous year). To support the surge in fulfillment demand, the group has begun operating warehouses in Fengshu and South Korea. Therefore, the group incurred approximately USD 5.6 million in depreciation of right-of-use assets for leasing these warehouses during the reporting year. During the reporting year, the group granted 2.822 million share options (compared to 389,000 share options in the previous year) resulting in share option expenses of approximately USD 4.1 million (compared to USD 2 million in the previous year), with each option carrying the right to subscribe for 10 ordinary shares of the company. Additionally, the group incurred a fair value loss of approximately USD 900,000 (compared to nil in the previous year) on a life insurance policy purchased and pledged to a bank to obtain bank financing for the group, recognized in profit or loss. Due to the higher profits generated by the group's entity in South Korea, and the non-deductible nature of the share option expenses and the fair value loss on the insurance policy mentioned above, the estimated income tax expense for the reporting year is approximately USD 6.4 million, higher than the approximately USD 4.5 million in the previous year. Therefore, the unaudited comprehensive net profit for the reporting year is expected to be no less than USD 22 million (compared to USD 19 million in the previous year), an increase of approximately USD 3 million or 15.8%.