40% of revenue comes from the United States! This cross-border e-commerce platform will be listed in Hong Kong!

Recently, according to the Hong Kong Stock Exchange, Hong Kong e-commerce platform company YesAsia has submitted an application for listing on the main board of the Hong Kong Stock Exchange.

Image: YesAsia IPO document

YesAsia is an e-commerce platform company founded in 1998 and located in Hong Kong. It started relatively late and is one of the "silently making money" platforms in the e-commerce industry. Its main business is to promote Asian fashion and lifestyle culture and sell corresponding products.

According to the prospectus, YesAsia has been a pioneer in the e-commerce retail industry, focusing on the sales of entertainment products. In order to adapt to industry changes and customer needs, the company launched the e-commerce B2C platform www.YesStyle.com (YesStyle) in July 2006 to cater to the popularization trend of Asian fashion and lifestyle products (especially Korean beauty products) in recent years.

From 2017 to 2019, the company achieved revenues of US$59.055 million, US$85.364 million, and RMB118 million, respectively. As of the first nine months of 2020, the company has achieved revenues of US$121 million, exceeding last year's full-year revenue. At the same time, during the corresponding periods, the company's net profits were US$2.232 million, US$3.992 million, US$3.369 million, and US$7.026 million, respectively, a very rapid growth.

According to the Frost & Sullivan Report, in 2019, the Company ranked sixth, third, first and first among global cross-border e-commerce Korean beauty retailers in the four major markets (i.e. the United States, the United Kingdom, Australia and Canada) based on retail sales revenue.

For the nine months ended September 30, 2020, revenue from the United States, the United Kingdom, Australia and Canada accounted for 41.1%, 8.6%, 7.0% and 6.9% of total revenue, respectively, and the number of customers from these countries accounted for 46.0%, 9.8%, 7.4% and 6.6% of the total number of customers during the same period, respectively.