YesAsia Holdings Limited (2209) AI Stock Analysis

• Market Cap: €2.33B
• Dividend Yield: 1.32%
• Average Volume (3M): 935.85K
• Price to Earnings (P/E): 15.3
• Beta (1Y): -0.36
• Revenue Growth: 71.18%
• EPS Growth: 147.26%
• Country: HK
• Employees: 520
• Sector: Consumer Cyclical
• Sector Strength: 69
• Industry: Specialty Retail
• EPS (TTM): 0.37
• Shares Outstanding: 412,103,800
• 10 Day Avg. Volume: 938,205
• 30 Day Avg. Volume: 935,846
• PEG Ratio: 3.61
• Price to Book (P/B): 6.31
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -252.10
• Enterprise Value/Market Cap: 0.14
• Enterprise Value/Revenue: 0.28
• Enterprise Value/Gross Profit: 3.12
• Enterprise Value/Ebitda: 3.64
• 1Y Price Target: €5.96
• Price Target Upside: 5.38% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 0

• Rating: 75 Outperform
• Price Target: HK$7.00 ▲(23.67%Upside)

YesAsia Holdings Limited is currently exhibiting strong technical momentum, which is the most significant factor in its stock score. Financial performance is positive but marred by cash flow concerns. Valuation is reasonable, though not particularly compelling. The absence of earnings call and corporate events data has streamlined the analysis to focus on the main financial and technical indicators.

YesAsia Holdings Limited Business Overview & Revenue Model

Company Description

YesAsia Holdings Limited (2209) is a leading online retailer specializing in Asian entertainment products. The company operates through its flagship websites, YesAsia.com and YesStyle.com, offering a wide range of products including music, movies, toys, fashion, and beauty items. YesAsia is renowned for its extensive selection of Asian pop culture products, catering to a global customer base with a focus on delivering authentic and hard-to-find items from Asia.

How the Company Makes Money

YesAsia Holdings Limited generates revenue through direct sales of Asian entertainment products and fashion items via its e-commerce platforms, YesAsia.com and YesStyle.com. The company leverages its strong relationships with Asian suppliers and distributors to offer exclusive and diverse products. A significant portion of its revenue comes from international orders, reflecting its extensive global reach. Additionally, YesAsia may participate in affiliate marketing programs and partnerships with other e-commerce platforms to broaden its market presence, although specific details on such collaborations are not publicly disclosed. The company's ability to offer a wide selection of niche products and maintain a loyal customer base is crucial to its earnings.

YesAsia Holdings Limited Financial Statement Overview

Summary

YesAsia Holdings Limited has shown strong revenue growth and profitability improvements. However, challenges in cash flow management and historical income fluctuations present potential risks that need addressing.

Income Statement

YesAsia Holdings Limited demonstrated strong revenue growth of 71.68% from 2023 to 2024 and 56.65% from 2022 to 2023, indicating robust expansion. The company maintained a solid gross profit margin of 30.48% in 2024. Net profit margin improved significantly to 5.51% in 2024 from 3.76% in 2023, showcasing enhanced profitability. EBIT and EBITDA margins were also strong at 7.17% and 7.64% respectively, marking improved operational efficiency. However, historical fluctuations in income, with some years of negative net income, indicate potential volatility.

Balance Sheet

The company's debt-to-equity ratio stood at 0.43 in 2024, indicating moderate leverage. Return on equity improved to 35.94% in 2024, reflecting effective utilization of equity to generate profits. The equity ratio was 43.96% in 2024, suggesting a balanced capital structure. While the company has shown improvement, historical fluctuations and a moderate level of liabilities relative to equity suggest some financial risk.

Cash Flow

Operating cash flow declined sharply in 2024 compared to 2023, indicating potential challenges in cash generation. Free cash flow turned negative in 2024, raising concerns about cash management. The operating cash flow to net income ratio was 0.10, and the free cash flow to net income ratio was negative, both of which indicate cash flow inefficiencies. Historical volatility in cash flow metrics suggests the need for improved cash management strategies.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	345.78M	201.34M	128.59M	162.02M	173.32M
Gross Profit	105.39M	62.70M	42.73M	55.62M	61.87M
EBITDA	26.39M	15.49M	1.27M	4.65M	18.09M
Net Income	19.05M	7.57M	-6.78M	-2.06M	11.22M
Balance Sheet
Total Assets	120.57M	74.48M	63.72M	69.89M	63.38M
Cash, Cash Equivalents and Short-Term Investments	15.53M	25.18M	18.80M	36.47M	28.48M
Total Debt	22.80M	12.18M	15.46M	12.76M	14.47M
Total Liabilities	67.58M	39.43M	36.59M	33.60M	40.92M
Stockholders Equity	53.00M	35.05M	27.14M	36.29M	22.45M
Cash Flow
Free Cash Flow	-1.27M	8.21M	-9.51M	-1.33M	17.79M
Operating Cash Flow	1.95M	8.99M	-5.08M	252.00K	20.14M
Investing Cash Flow	-3.10M	1.38M	993.00K	-10.04M	-2.29M
Financing Cash Flow	-7.51M	-1.95M	-8.19M	10.81M	-6.49M

YesAsia Holdings Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 5.66
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2209, the sentiment is Neutral. The current price of 5.66 is below the 20-day moving average (MA) of 5.72, above the 50-day MA of 5.08, and above the 200-day MA of 4.31, indicating a neutral trend. The MACD of 0.25 indicates Positive momentum. The RSI at 52.45 is Neutral, neither overbought nor oversold. The STOCH value of 21.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:2209.

YesAsia Holdings Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2209	75 Outperform	€2.33B	15.31	42.49%	1.32%	71.18%	147.26%
2420	74 Outperform	HK$1.67B	10.10	27.91%	3.58%	8.89%	―
0178	72 Outperform	HK$1.83B	23.79	6.39%	5.08%	1.20%	-49.31%
2101	68 Neutral	HK$612.96M	27.83	1.57%	―	-36.89%	-78.29%
Sector *	57 Neutral	HK$25.53B	4.08	-2.03%	6.11%	-0.31%	-67.64%
9991	45 Neutral	HK$1.43B	―	-4.60%	―	5.61%	29.83%

YesAsia Holdings Limited Corporate Events

YesAsia Holdings Limited Unanimously Passes AGM Resolutions

YesAsia Holdings Limited announced that all proposed resolutions at its Annual General Meeting on June 20, 2025, were passed unanimously. Key resolutions included the adoption of financial statements, declaration of a final dividend, reappointment of auditors, re-election of directors, and granting of mandates for share issuance and repurchase. This successful AGM reflects strong shareholder support and positions the company for continued stability and growth, with implications for enhanced shareholder value and strategic flexibility in managing its share capital.

YesAsia Holdings Grants Share Options to Non-Executive Director

YesAsia Holdings Limited has announced the grant of share options to a non-executive director under its Post-IPO Share Option Scheme. This move, effective from May 2, 2025, allows the grantee to subscribe to a significant number of shares, potentially impacting the company’s market positioning by aligning the interests of its directors with those of shareholders. The options have a structured vesting schedule, ensuring long-term engagement and commitment from the grantee, which may enhance the company’s governance and operational stability.

YesAsia Holdings Announces Changes to Nomination and Audit Committees

YesAsia Holdings Limited, a company incorporated in Hong Kong, has announced changes in the composition of its Nomination and Audit Committees, effective from April 25, 2025. These changes include the appointment of Ms. Chu Lai King to the Nomination Committee and the cessation of Mr. Chu Kin Hang and Mr. Hui Yat Yan Henry from the Nomination and Audit Committees, respectively. The adjustments are made in anticipation of amendments to the Corporate Governance Code and are aimed at enhancing the company’s governance practices. The Board expresses gratitude to the outgoing members for their contributions and welcomes Ms. Chu Lai King in her new role.

YesAsia Holdings Limited Announces Board Composition and Committee Appointments

YesAsia Holdings Limited has announced the composition of its board of directors, which includes executive, non-executive, and independent non-executive directors. The board has also established three committees: the Audit Committee, the Nomination Committee, and the Remuneration Committee, with specific directors appointed as members and chairpersons of these committees. This announcement is significant as it outlines the governance structure of the company, which is crucial for its strategic decision-making and operational oversight. The clear delineation of roles and responsibilities among the board members and committees is likely to enhance the company’s corporate governance and may impact its industry positioning by ensuring effective management and accountability.

YesAsia Holdings Limited Grants Share Options to Employees

YesAsia Holdings Limited has announced the grant of 432,000 share options under its Post-IPO Share Option Scheme to 84 selected employees, including senior managers, with no directors or chief executives included. This move is part of the company’s strategy to incentivize and retain talent, potentially enhancing operational efficiency and aligning employee interests with shareholder value.