YesAsia Holdings Limited (HK:2209) has released an update.
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YesAsia Holdings Limited has reported a remarkable net profit increase of 610.2%, with the unaudited consolidated net profit expected to reach at least US$11.1 million for the six-month period ending June 2024. This surge is primarily due to an 80.2% increase in revenue, driven by enhanced marketing and expansion efforts in their beauty product sales on YesStyle Platforms and through AsianBeautyWholesale. Despite a slight dip in gross profit margin by 0.4 percentage points, the company anticipates a substantial improvement in net profit margin thanks to revenue diversification and cost reductions.
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