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Public company info - YesAsia Holdings Limited , 02209.HK
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YesAsia Holdings Limited, 02209.HK - Company Profile
Chairman CHU Lai King
Share Issued (share) 395,000,000
Par Currency Hong Kong Dollar
Par Value 3.0
Industry E-Commerce & Internet Services
Corporate Profile Business Summary: Established in 1998, The group is an online retailer headquartered in Hong Kong which engages in the procurement and sale of third-party branded and unbranded Asian fashion & lifestyle, beauty and entertainment products to customers around the world. Performance for the year: The group’s revenue for the three years ended 31 December 2020 was approximately US$85.4 million, US$117.6 million and US$173.3 million, respectively, representing a CAGR of approximately 42.5%. For the same year, the group’s profit for the year was approximately US$4.0 million, US$3.4 million and US$11.2 million, respectively, representing a CAGR of approximately 67.3%. the group’s net profit margin was approximately 4.7%, 2.9% and 6.5% for the same years, respectively. the group’s profit for the year decreased from approximately US$4.0 million for the year ended 31 December 2018 to approximately US$3.4 million for the year ended 31 December 2019. Business Review Since the launch of the group’s first E-commerce B2C platform, www.YesAsia.com (formerly known as AsiaCD.com) (‘‘YesAsia’’) in April 1998, the group have been engaging in the E-commerce retail sales of entertainment products. To adapt to changes in the industry and customers’ demand, the group launched www.YesStyle.com (‘‘YesStyle’’) in July 2006, an E-commerce B2C platform catering for the increasing popularity of Asian fashion & lifestyle products, and particularly Korean beauty products in recent years. In August 2017, the group launched www.AsianBeautyWholesale.com (‘‘AsianBeauty Wholesale’’), which focuses on customers’ purchase needs for business purposes. the group have also been engaged in the offline B2B sales of entertainment products, mainly targeting local entertainment retailers in Japan since February 2002. the group have built product and information platforms for Asian culture, fashion and beauty lovers around the world. For the year ended 31 December 2020, the group enjoy a total average MAU of approximately 5.9 million from the group’s E-commerce platforms and approximately 1.4 million E-commerce customers. Through the group’s extensive product offerings, targeted marketing initiatives and superior customer service, the group have established a growing community where consumer feedback and product information can be constantly exchanged between the group’s customers and suppliers. Being an E-commerce gateway and established entertainment product channel, the group maintain a diversified customer base in the US, the UK, France, Australia and Canada, and focus on expanding globally to new geographic markets. For the year ended 31 December 2020, revenue generated from the US, the UK, France, Australia and Canada accounted for 41.9%, 8.5%, 8.3%, 7.0% and 6.3% of the group’s total revenue, respectively, while numbers of customers from these countries accounted for 47.2%, 9.7%, 8.0%, 7.2% and 5.7% of the total number of customers, respectively, for the same year. The group employ a comprehensive digital marketing strategy that combines various media tools to maximize the group’s exposure to the targeted consumers. In addition to social media marketing, performance marketing and retention marketing, the group have also adopted influencer marketing initiatives which capitalize on the broad follower base of influencers and KOLs to enhance the group’s exposure and strengthen customer interactions. the group launched the group’s KOL initiative in January 2018, and subsequently the group’s award-winning YesStyle Influencer Program in February 2019, which assist YesStyle to reach a broader worldwide audience. As at the Latest Practicable Date, more than 150,000 KOLs and influencers from around the world have joined the group’s influencer marketing initiatives, providing us with a broad follower base of millions of users. Revenues generated from the group’s influencer marketing initiatives accounted for 1.2%, 7.9% and 17.4% of the total revenue of YesStyle for the three years ended 31 December 2020, respectively. the group’s YesStyle Influencer Program received the ‘‘Technology Excellence Award’’ in September 2020, granted by Hong Kong Business magazine. For more details on the group’s influencer marketing initiatives, please refer to ‘‘Business — Marketing — Influencer marketing’’ in this document. The group’s business processes, from supplier selection and procurement to sales and marketing, are highly integrated and responsive to customer needs. the group have established the group’s in-house procurement, content creation, IT and fulfillment competencies to provide tailored support that caters to market dynamics efficiently and economically. In particular, the group have built local product teams in South Korea, Japan and Hong Kong to source suppliers and products that resonate well with the group’s customers. the group’s in-house content team creates rich and diverse content through the group’s blog, newsletters and social media accounts, which distills styles and trends and guides the group’s customers along their shopping journey from discovery to purchase. As a technology driven company, the group’s in-house IT team has relentlessly pursued the development of IT technologies and infrastructures to improve the group’s operational efficiency as well as customer experience. Headquartered in Hong Kong, a global logistics hub, The group is able to maintain the efficiency of the group’s warehousing, fulfillment and delivery functions at a high level. According to the F&S Report, outbreak of COVID-19 has reshaped consumers purchase patterns and facilitated a faster growth in E-commerce B2C sales. the group have demonstrated a robust growth riding on such E-commerce popularity. For the year ended 31 December 2020, the number of new customers of the group’s E-commerce platforms were 996,669, which increased by 55.9% as compared to 2019, while the average order size placed to the group’s E-commerce platforms registered an increase of 18.5% as compared to 2019. During the year ended 31 December 2020, the group have applied and received (i) a one-off government subsidy of approximately US$3.1 million, being the wage subsidy under the Employment Support Scheme, an anti-epidemic fund launched by the Hong Kong Government, and (ii) a one-off subsidy grant of approximately US$18,000 provided by the Japanese Government in light of the outbreak of COVID-19. Save for the one-off government subsidies obtained during the year ended 31 December 2020 and the government subsidy of approximately US$4,000 granted by the Japanese government during the first quarter of 2021 for purchasing equipment for work-from-home arrangement of the group’s Japan office, no other COVID-19 related subsidy has been applied for or received during the Track Record Period and up to the Latest Practicable Date. the group’s Directors are of the view that the group do not expect to receive further COVID-19 related government subsidy going forward. Prospects: To achieve the group’s mission, the group intend to pursue the following strategies: . reinforce the group’s marketing strategies to boost the group’s customer base and enhance customer loyalty; . increase the group’s global penetration to build stronger brand awareness; . deepen the group’s positioning as a Korean beauty product gateway; . enhance the group’s customer experience through further investment in IT systems and in-house-produced original content; and . optimize and expand the group’s logistics network and infrastructure.

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