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YesAsia Holdings Limited
(2209)
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Rating:66Neutral
Price Target:
HK$2.50
▼(-55.36% Downside)
Action:Reiterated
Date:06/03/26
The score is driven primarily by solid financial performance from a post-2022 profitability turnaround, tempered by uneven cash flow conversion, and a very weak technical setup (downtrend with bearish momentum). Valuation is a notable positive, with a low P/E and a moderate dividend yield providing support.
Positive Factors
Revenue acceleration & turnaround
YesAsia's sharply accelerating revenue and sustained profitability in 2023–2025 reflect a successful operational turnaround. This indicates scalable demand and improved unit economics, supporting reinvestment, margin expansion potential, and a stronger foundation for durable cash generation over several quarters.
Negative Factors
Volatile cash generation
Free cash flow and operating cash flow volatility—including a negative FCF year and OCF weak versus net income in 2024—raise quality-of-earnings concerns. Inconsistent cash conversion complicates debt reduction, capex planning, and reliable shareholder distributions across the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue acceleration & turnaround
YesAsia's sharply accelerating revenue and sustained profitability in 2023–2025 reflect a successful operational turnaround. This indicates scalable demand and improved unit economics, supporting reinvestment, margin expansion potential, and a stronger foundation for durable cash generation over several quarters.
Read all positive factors
YesAsia Holdings Limited (2209) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$1.00B
Dividend Yield1.89%
Average Volume (3M)645.90K
Price to Earnings (P/E)5.4
Beta (1Y)-0.10
Revenue Growth44.93%
EPS Growth18.38%
CountryHK
Employees520
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)0.06
Shares Outstanding418,373,780
10 Day Avg. Volume633,900
30 Day Avg. Volume645,900
Financial Highlights & Ratios
PEG Ratio0.48
Price to Book (P/B)2.65
Price to Sales (P/S)0.42
P/FCF Ratio34.78
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.07
Revenue Forecast (FY)HK$672.00M
YesAsia Holdings Limited Business Overview & Revenue Model
Company Description
YesAsia Holdings Limited operates as a global e-commerce platform, specializing in the sourcing, marketing, and distribution of a diverse range of Asian fashion, lifestyle, beauty, and entertainment merchandise. The company facilitates online tran...
How the Company Makes Money
null...
YesAsia Holdings Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
72
Positive
Cash Flow
58
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 501.54M | 345.78M | 201.34M | 128.59M | 162.02M |
| Gross Profit | 148.50M | 105.39M | 62.70M | 42.73M | 55.62M |
| EBITDA | 34.38M | 26.39M | 15.49M | 1.27M | 4.65M |
| Net Income | 23.21M | 19.05M | 7.57M | -6.78M | -2.06M |
Balance Sheet | |||||
| Total Assets | 163.74M | 120.57M | 74.48M | 63.72M | 69.89M |
| Cash, Cash Equivalents and Short-Term Investments | 22.74M | 15.53M | 25.18M | 18.80M | 36.47M |
| Total Debt | 34.62M | 22.80M | 12.18M | 15.46M | 12.76M |
| Total Liabilities | 83.69M | 67.58M | 39.43M | 36.59M | 33.60M |
| Stockholders Equity | 80.13M | 53.00M | 35.05M | 27.14M | 36.29M |
Cash Flow | |||||
| Free Cash Flow | 6.10M | -1.27M | 8.21M | -9.51M | -1.33M |
| Operating Cash Flow | 12.76M | 1.95M | 8.99M | -5.08M | 252.00K |
| Investing Cash Flow | -10.61M | -3.10M | 1.38M | 993.00K | -10.04M |
| Financing Cash Flow | -1.55M | -7.51M | -1.95M | -8.19M | 10.81M |
YesAsia Holdings Limited Technical Analysis
Negative
5.60
Price Trends
2.90
Negative
3.05
Negative
3.95
Negative
Market Momentum
-0.09
Positive
29.57
Positive
7.72
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2209, the sentiment is Negative. The current price of 5.6 is above the 20-day moving average (MA) of 2.78, above the 50-day MA of 2.90, and above the 200-day MA of 3.95, indicating a bearish trend. The MACD of -0.09 indicates Positive momentum. The RSI at 29.57 is Positive, neither overbought nor oversold. The STOCH value of 7.72 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:2209.
YesAsia Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | HK$26.96B | 7.54 | 18.80% | 3.18% | 30.69% | -13.06% | |
66 Neutral | HK$1.00B | 5.44 | 41.54% | 1.89% | 44.93% | 18.38% | |
63 Neutral | HK$1.72T | 13.64 | 10.00% | 1.34% | 4.59% | -16.23% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | HK$263.22B | 16.89 | 6.15% | 3.48% | 12.29% | -67.34% | |
50 Neutral | HK$225.23M | -12.32 | -8.05% | ― | 85.29% | 39.63% | |
41 Neutral | HK$724.18M | -0.07 | ― | ― | 13.45% | 48.65% |
* Consumer Cyclical Sector Average
HK:2209
YesAsia Holdings Limited
2.40
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-52.60%
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YesAsia Holdings Limited Corporate Events
YesAsia Streamlines Workforce as Beauty Pivot Drives Revenue Dominance
Jun 26, 2026
YesAsia Holdings has deepened its strategic pivot toward beauty products, with beauty-related revenue doubling over 2023 and 2024 and posting double-digit growth in 2025, ultimately reaching about 96% of total sales, while fashion, lifestyle and e...
YesAsia Holdings Wins Strong Shareholder Backing at 2026 AGM
Jun 18, 2026
YesAsia Holdings shareholders approved all resolutions at the 18 June 2026 annual general meeting, with voting conducted by poll and overseen by Computershare Hong Kong Investor Services as scrutineer. The meeting confirmed that all 418,416,768 is...
YesAsia shareholders approve overhaul of post-IPO share option scheme
Jun 18, 2026
YesAsia Holdings Limited reported that all resolutions put to shareholders at its extraordinary general meeting on 18 June 2026 were approved by poll, with strong majorities in favour and no voting restrictions or required abstentions under Hong K...
YesAsia calls June EGM to amend post-IPO share option scheme
May 28, 2026
YesAsia Holdings Limited has called an extraordinary general meeting for 18 June 2026 in Hong Kong to seek shareholder approval for amendments to its post-IPO share option scheme. The proposed changes, originally adopted in March 2021, are detaile...
YesAsia Sets 2026 AGM to Approve Dividend, Auditor and New Share Issue Mandate
Apr 27, 2026
YesAsia Holdings Limited has called its annual general meeting for 18 June 2026 in Hong Kong, where shareholders will review and adopt the audited financial statements and directors’ and auditors’ reports for the year ended 31 December...
YesAsia clarifies on-demand nature of key bank facilities
Apr 27, 2026
YesAsia Holdings Limited has issued a supplemental announcement clarifying terms of its banking facilities previously disclosed under the Hong Kong listing rules. The company explains that the facilities have no fixed term and are subject to perio...
YesAsia posts 29% jump in Q1 2026 beauty and lifestyle orders
Apr 24, 2026
YesAsia Holdings reported a strong start to 2026, with unaudited first‑quarter order amounts for beauty and fashion lifestyle products rising 29% year on year to US$141.7 million across its online and offline channels. Orders on the YesStyl...
YesAsia Grants Long-Term Share Options to Employees Under Post-IPO Scheme
Apr 24, 2026
YesAsia Holdings has granted share options over a maximum of 1,300,000 ordinary shares to 14 employees under its post‑IPO share option scheme adopted in 2021. The options, which carry an exercise price of HK$3.22 per share, were granted on 2...
YesAsia moves to modernize articles and tighten, broaden post‑IPO option scheme
Apr 24, 2026
YesAsia Holdings Limited plans to adopt new Articles of Association to allow hybrid and electronic shareholder meetings with electronic voting, align its constitution with recent changes to Hong Kong company law, and support a more paperless and u...
YesAsia Secures HK$40 Million Bank Facilities Tied to Founder Control
Apr 24, 2026
YesAsia Holdings’ wholly owned unit YesStyle.com has secured new banking facilities from a licensed Hong Kong bank, comprising trade finance and a revolving loan with a combined limit of up to HK$40 million. The facilities are uncommitted, s...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.