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Record-high annual revenue: RMB284.4 billion, up 10.1% year-over-year Record-high annual net profit attributable to owners of the company: RMB10.2 billion, up 23.5% year-over-year Delivered total shareholder return of RMB10.7 billion SHENZHEN, China, March 31, 2025 /PRNewswire/ -- S.F. Holding Co., Ltd. ('SF Holding' or 'SF' or 'the Company', 002352.SZ; 06936.HK), the largest integrated logistics service provider in Asia, has announced 2024 financial results, demonstrating strong growth in both revenue and profitability. The Company has an efficient and reliable logistics network infrastructure rooted in China, radiating Asia, and connecting the world. Focusing on its logistics ecosystem, SF Holding has continued to enhance its portfolio of product and service capabilities to provide customers with domestic and international one-stop integrated logistics services. Commenting on the Company's 2024 results, Mr. Alex Ho, SF Holding's Executive Director and Chief Financial Officer, said: "2024 stands as a defining milestone for SF Holding – crowned by high customer satisfaction, record total revenue and profitability, as well as our successful listing on the Hong Kong Stock Exchange in November 2024. Through disciplined capital allocation and operational excellence, we generated robust operating cash flows, translating into sustainable free cash flow growth." 2024 Operational Highlights In 2024, the Company achieved strong growth by focusing on its key strategy, "Unite for Shared Goals, Pioneer with Steadfast Drive." As part of this strategy, SF Holding strengthened organizational vitality by upgrading incentive systems and granting greater business authority to frontline employees. Additionally, the Company enhanced the role of headquarters in supporting business regions, aligning interests across all levels to foster entrepreneurship throughout the organization. Domestically, the Company achieved business growth by further penetrating customers' upstream and downstream supply chain scenarios across multiple industries. Logistics revenue in the high-tech, automotive, and industrial manufacturing sectors all grew by over 20% year-over-year. As a result, the main express logistics business achieved revenue of RMB205.8 billion, representing a year-over-year increase of 7.7%. Internationally, Asia is the Company's top priority. SF Holding provides customized integrated end-to-end logistics solutions, delivering both cost-efficiency and premium services to customers, and achieved 0-to-1-to-N breakthroughs in international supply chain projects across countries, industries, and business scenarios. Over 45% of Fortune China 500 companies utilize SF Holding's international logistics services. In its 2024 international operations, the Company won bids for over 100 overseas supply chain projects. As a result of these initiatives, the supply chain and international business achieved RMB70.5 billion in revenue, representing a 17.5% year-over-year increase, effectively securing the Company's second growing curve. Alongside business expansion, the Company has achieved sustained profitability growth through continuous improvements in backbone logistics network efficiency and operational model reforms, which combined have driven cost reductions and efficiency enhancements. Reaffirming Shareholder Commitment Since 2024, SF Holding has returned a total of RMB10.7 billion to shareholders through cash dividends and share repurchase programs, demonstrating its strong confidence in sustainable cash flow generation and commitment to creating long-term shareholder value. Notably, on March 28, the Company proposed a final cash dividend distribution of RMB2.2 billion. Together with interim dividends, SF Holding's total shareholder returns from dividends for 2024 amounted to RMB4.1 billion, representing an annual dividend payout ratio of 40% - an increase of 5 percentage points year-over-year. Additionally, prior to its November 2024 listing on the Hong Kong Stock Exchange, SF Holding distributed a special one-off cash dividend of RMB4.8 billion. This brought the Company's 2024 dividend payout ratio to a record-high 87%. To demonstrate its commitment to shareholder value, SF Holding has allocated RMB4.8 billion in various share repurchase programs since 2022, including RMB1.8 billion worth of shares that were repurchased since 2024. 2024 Key Financial Results For the fiscal year ended December 31, 2024, SF Holding reported total revenue of RMB284.4 billion, representing a 10.1% year-over-year increase. The profit attributable to owners of the Company in 2024 was RMB10.2 billion, representing a year-over-year increase of 23.5%, and the net profit margin increased to 3.6%. In 2024, net cash generated from operating activities of the Company was RMB32.2 billion, representing an increase of 21.1% compared with the same period in 2023, mainly due to the combined effect of the Company's profit growth and optimized operating cash flow management. Free cash flow surged 70% to RMB22.3 billion, demonstrating significant improvement in cash generation. In 2024, the Company recorded a parcel volume of 13.3 billion, representing an 11.3% year-over-year increase, or 15.3% year-over-year increase, excluding volumes from Fengwang Express (Fengwang), the Company's franchise model business disposed in June 2023. SF Holding's flagship product time-definite express recorded 5.8% revenue growth to RMB122.2 billion. Annual parcel volume for this segment increased 12% year-over-year. The Company's economy express continued to capitalize on its competitive edge to serve e-commerce customers in the year. The segment's parcel volume (excluding volumes from Fengwang) increased 18% year-over-year, while its revenue increased by 11.8%. Revenue for the freight segment increased by 13.8% to RMB37.6 billion with significantly improved profitability. The structural cost-saving initiatives enabled competitive pricing strategies, driving over 20% annual growth in shipment volume. SF Holding's intra-city segment achieved 22.4% revenue growth with net profit surging by 162%. Business Outlook Building on its leadership in Asia, SF Holding is rapidly applying its proven expertise to further develop its market presence. By deepening its "The One in Asia" strategy, the Company remains committed to seamlessly connecting Asia and the world with its international logistics and supply chain capabilities. Looking ahead, as the demand for integrated end-to-end logistics solutions continues to rise, SF Holding aims to become the go-to logistics partner of our business and retail customers in Asia. SF Holding plans to leverage its well-recognized brand, cost advantages, and integrated logistics service capabilities, driving sustainable and healthy growth of business to foster shared success and create enduring value together. About SF Holding Founded in 1993, S.F. Holding Co., Ltd. (002352.SZ; 06936.HK) is the largest integrated logistics service provider in Asia and the fourth largest globally. Listed on the Shenzhen Stock Exchange and the Hong Kong Stock Exchange, SF Holding is the constituent stock in the CSI 300 Index and MSCI Emerging Market Index. Demonstrating a commitment to being fast, reliable, and customer-centric, the Company possesses digital technology to promote the development of intelligent and green supply chains. For further information, please visit https://ir.sf-express.com/en/.
Record Aggregate TTV Growing 186% Year-Over-Year Enterprise Solutions Revenue Grew 62% Year-Over-Year NEW YORK, March 31, 2025 /PRNewswire/ -- Yanolja Co., Ltd., ("Yanolja") a global travel technology company, today announced its full-year 2024 results under Korean International Financial Reporting Standards (K-IFRS). Sujin Lee, Chairman and CEO of Yanolja, shared, "We concluded the year with record-breaking financial performance across both our Enterprise Solutions and Consumer Platform, engaging with more travel enterprises and travelers than ever before. Particularly, our Enterprise Solutions reported an impressive 62% year-over-year increase in revenue, highlighting the substantial scale and growth potential of this segment globally." He continued, "I am incredibly proud of Yanolja and our teams for their relentless dedication and innovative spirit in driving our customers' success. As we advance our mission to revolutionize the travel industry, our recent strategic partnerships with Google Cloud and Amazon Web Services in addition to our collaboration with OpenAI mark a significant step forward as these collaborations will drive the development of a next-generation, AI-powered data enablement platform, further solidifying Yanolja's position as a global travel technology leader." Full Year 2024 Highlights Aggregate TTV[1] reached Won 27.0 trillion (USD 18.3 billion)[2], up 186% compared to 2023. Consolidated operating revenue reached Won 924.5 billion (USD 625.6 million), up 22% compared to 2023. Enterprise Solutions revenue[3] was Won 292.6 billion (USD 198.0 million), up 62% compared to 2023 Consumer Platform revenue[3] was Won 671.2 billion (USD 454.2 million), up 6% compared to 2023. Consolidated Adjusted EBITDA[4] was Won 114.7 billion (USD 77.6 million), up 68% compared to 2023, and Adjusted EBITDA Margin[4] was 12.4%. Enterprise Solutions Adjusted EBITDA was Won 67.7 billion (USD 45.8 million), up 295% compared to 2023, and Adjusted EBITDA Margin was 23.1%. Consumer Platform Adjusted EBITDA was Won 88.4 billion (USD 59.8 million), up 4% compared to 2023, and Adjusted EBITDA Margin was 13.2%. Jeff Kim, CEO of Yanolja Cloud, added, "Our Enterprise Solutions have reached significant size and scale, now serving over 1.3 million travel businesses and more than 21,000 sales channels globally. We established our position as a leading global travel technology with our unique data and AI technologies and are accelerating the shift toward fully automated, personalized and AI-powered end-to-end travel services. As we continue to advance our capabilities and expand our global footprint, we remain focused on driving sustainable growth and profitability." Following the completed integration of the company's consumer channels at the end of 2024 under NOL Universe, Bo-chan Bae, CEO of NOL Universe remarked, "NOL Universe dreams of a complete ecosystem that connects all moments of daily life beyond travel, accommodation, and entertainment. To do this, we will revolutionize the way we consume leisure, providing a more intuitive and immersive experience for our travelers." 2024 Business Highlights Aggregate TTV grew by 186% year-over-year, driven by strong performance across both our Enterprise Solutions and Consumer Platform. [5] Aggregate TTV serves as a key metric reflecting the scale and growth of transactions across Yanolja's businesses. Leveraging proprietary transaction data, Yanolja analyzes global travel trends and delivers AI-powered, tailored services through its advanced data platform. This growth highlights the platform's reliability and technological sophistication. The strong[5] aggregate TTV performance reinforces Yanolja's continued global expansion and strengthens its position as a leading and trusted provider of innovative, data-driven solutions in the travel industry. Enterprise Solutions revenue increased 62% year-over-year, driven by strong performance across our businesses, supported by global expansion, enhanced product offerings, increased customer wallet share, and strategic inorganic initiatives. Adjusted EBITDA margin reached 23.1%, representing a 14-percentage-point improvement from 2023, reflecting the growing operating leverage of our solutions business. Notably, the proportion of AI Data Solution revenue within Enterprise Solutions increased from 14% in Q1 2024 to 25% in Q4 2024. Consumer Platform revenue increased 6% year-over-year, supported by stable growth in both inbound and outbound travel compared to the prior year, despite macroeconomic uncertainty, domestic political and economic challenges, and unfavorable FX headwinds in the second half of 2024. In addition, we completed the integration of our consumer channels — Yanolja Platform and InterparkTriple Corp. — forming NOL Universe, a unified platform that offers users a comprehensive range of travel and leisure services, enhanced personalization, and a more rewarding customer experience. 1 Aggregate TTV (Total Transaction Value) consists of two components: Direct TTV, which includes transactions where we earn a fee, and Indirect TTV, which reflects the transaction value associated with our Subscription and Data Solutions — indicative of the data we have access to, even if we don't directly handle the transactions. TTV includes intercompany transactions; as a result, individual components may not sum precisely to the total. 2 Figures stated in USD are based on December 31, 2024, FX rate where $1 USD = 1,477.86 KRW. 3 Revenue excludes intercompany transactions, holdings and others, portions may not add up to total. 4 Yanolja reports Adjusted EBITDA, a non-K-IFRS financial measure. As it is not defined under K-IFRS, comparisons with similarly titled metrics reported by other companies may not be meaningful. Segment figures may not sum to the consolidated total due to holding company and other corporate-level adjustments. Adjusted EBITDA for a given period is defined as profit or loss for the period adjusted for (i) income tax expense; (ii) depreciation and amortization; (iii) equity settled share based payment; (iv) impairment loss on intangible assets; (v) commission incurred outside ordinary course of business and other expenses; (vi) finance income and expenses, net; (vii) gains or losses on investments in associates, net; and (viii) profit (loss) from discontinued operations, net of tax. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by operating revenue. 5 Year-over-year fluctuations are presented in constant currency, as Yanolja reports its results in Korean Won. U.S. dollar comparisons are provided for convenience and may be subject to calculation adjustments. Non-IFRS Financial Measures To supplement Yanolja's consolidated results prepared in accordance with Korean International Financial Reporting Standards (K-IFRS), this press release includes certain unaudited non-IFRS financial measures, such as total transaction value, revenue, adjusted EBITDA and adjusted EBITDA margin, for the corresponding period. These measures should be considered as supplementary information and not as substitutes for financial results prepared under K-IFRS. It is important to note that K-IFRS may differ from International Financial Reporting Standards (IFRS), and as a result, these non-IFRS financial measures may not be directly comparable to similar metrics reported by companies following IFRS. Additionally, these non-IFRS financial measures may exclude certain non-cash items and the impact of investment-related transactions to better reflect the performance of the company's core operations. Non-IFRS adjustments may also include relevant adjustments for the company's major associates based on publicly available financials or management estimates. Yanolja's management believes these non-IFRS measures provide valuable insights into the company's operational performance by excluding items that may obscure underlying trends. However, investors are advised to consider the limitations of these measures when evaluating the company's overall financial performance. About Yanolja Co., Ltd. Yanolja Co., Ltd. is a leading AI-powered data enablement platform redefining the global travel ecosystem to deliver personalized travel experiences and uncover operational efficiencies for travel enterprises. Built on the vision that hyper-connects people to their unique travel dreams and fully automates travel enterprise operations, Yanolja has developed advanced AI data technologies and transformed the entire travel industry. Operating in more than 200 countries, Yanolja provides integrated transaction solutions, including a leading consumer platform in Korea, as well as subscription and AI data solutions, to provide connectivity, efficiency, and personalization that redefines the future of the travel industry for both travelers and travel enterprises. For Press Information: Christina Kim, Corporate PR ManagerChristina.kim@yanolja.com+1 206-245-7392 For Investor Relations: Alexander Hagens, Corporate IR ManagerAlexander.hagens@yanolja.com+1 832-661-7125
HONG KONG, March 31, 2025 /PRNewswire/ -- China Renaissance Holdings Limited ("China Renaissance" or the "Group", stock code: 1911.HK) today announced its annual results for the year ended December 31, 2024 (the "Reporting Period"). Despite a challenging macroeconomic environment and a prolonged capital market downturn, the Group remained steadfast in its strategic direction, leveraging core business strengths. Through asset optimization, business transformation, and a focus on technology, China Renaissance achieved a significant rebound in operating performance. Total revenue and net investment gains were RMB 840 million for the year ended December 31, 2024, a year-on-year increase of 5.2%. Loss for the year attributable to owners of the Company narrowed to RMB 180 million, a decrease of 62.1% compared to the previous year. Meanwhile, the Group successfully repaid all external debt and maintained ample cash reserves, providing a solid financial foundation to support its future diversification strategy. In October 2024, Ms. Hui Yin Ching was appointed Chairperson of the Board, leading China Renaissance's new management team on its "Renaissance 2.0" journey. Following the leadership reshuffle, the core team remained stable, the company's governance framework was further strengthened, and the organizational structure was optimized. This resulted in significantly improved strategic execution efficiency. Since the fourth quarter of 2024, the Group's revenue and operating profit have increased substantially compared to the first three quarters, with fourth-quarter total revenue accounting for 46% of the full-year revenue. Investment Banking Achieves Counter-Cyclical Growth, Maintaining Market Leadership in Emerging Sectors In 2024, China Renaissance's investment banking business recorded segment revenue and net investment gains of RMB 220 million, representing a year-on-year increase of 16.8%. The core growth drivers were the expansion of private placement advisory fees and breakthroughs in equity underwriting. China Renaissance has maintained a leading position in private equity financing, with a strong presence in the broader technology sector. The Group has actively expanded into emerging fields such as embodied intelligence, low-altitude economy, advanced manufacturing, and hard technology, securing a dominant position in the AGI sector. During the reporting period, the Group successfully completed projects including Zhipu, ROBOTERA, Shengshu Technology, Fourier, and Galaxea. Amid a sluggish IPO market in Hong Kong SAR and the U.S., China Renaissance Investment Banking proactively diversified its capital market product offerings, helping clients complete listings or financing deals despite the challenging environment. Revenue from the Hong Kong SAR and U.S. equity businesses more than doubled year-on-year. During the reporting period, the Group acted as a joint sponsor for the Hong Kong IPO of RoboSense, a flagship project showcasing the synergy between China Renaissance and investment banks. The Group's M&A business also advanced in parallel with its investment banking operations, completing several landmark industry acquisition deals. Investment Management Seizes Exit Opportunities and Drives New Fundraising Initiatives During the reporting period, China Renaissance's investment management business achieved a significant breakthrough, recording an operating profit of RMB 126 million and contributing 38% of the Group's total revenue. In 2024, China Renaissance New Economy Fund was also recognized as an A-Class Fund Manager by the Insurance Asset Management Association of China. By seizing market exit opportunities, China Renaissance actively advanced project exits and post-investment management, with total fund exit proceeds reaching RMB 3.2 billion. As exits continued, the fund's Distributions to Paid-in Capital (DPI) further improved. As of now, six out of ten flagship funds, along with several project funds, have achieved a DPI of over 100%. In 2023 and 2024, portfolio companies including Fenbi, Smarter Micro, RoboSense, and Autostreets successfully went public, demonstrating the high quality of China Renaissance's investment portfolio, which focuses on smart industries and innovative economy sectors. The Group also actively explored non-IPO exit strategies, further expanding its investment footprint. On the fundraising front, China Renaissance maintained strong relationships with Limited Partners (LPs) and steadily advanced new fund fundraising initiatives. China Renaissance Securities Achieves Significant Efficiency Gains with Strong Retail Growth During the reporting period, China Renaissance Securities maintained steady operations, recording segment revenue and net investment gains of RMB 250 million, accounting for 30% of the Group's total revenue and net investment gains. The Huaxing Duoduojin App, the Group's flagship retail platform, saw 390 thousand registered users, marking a 95% increase from the end of 2023. The number of new clients grew rapidly, rising by 208% year-on-year, while total client assets increased by 146% compared to the end of 2023. Despite a tightening market environment, China Renaissance Securities continued to strengthen its industry position by driving several leading hard technology projects, providing consistent financing services to "Specialized, Refined, Differentiated, and Innovative" (SRDI) enterprises. During the reporting period, China Renaissance Securities successfully completed projects including Wanchen Group's private placement, Golden Phoenix's NEEQ listing, and private equity financing for Calterah Semiconductor and Kunlunxin. Hui Yin Ching, Chairperson of the Board of China Renaissance, commented: "2024 marked the first year of China Renaissance's deep strategic realignment. By focusing on three key pillars- technology enablement, business matrix restructuring, and organizational efficiency enhancement- we have established a foundation for sustainable growth in financial health, client quality, and innovation reserves. Currently, our investment banking business maintains a leading edge in the innovation economy, while our investment management business continues to break through with its profitable model. The synergistic effect of China Renaissance Securities' diversified business matrix has further strengthened our differentiated competitive advantage. Looking ahead, we will continue to focus on the 'Technology + Industry' strategy, deepening our presence in the AGI and embodied intelligence sectors, while expanding our M&A and cross-border business. While consolidating our existing businesses, we will actively explore the Web 3.0 and cryptocurrency asset sectors to lead the development of innovative technologies. At the same time, we will continue to enhance post-investment management and risk control, improving asset operation efficiency. With a solid financial structure, innovative business models, and professional service capabilities, the Group is committed to seizing market opportunities and creating long-term value for our shareholders." For more annual results-related information, please refer to:[https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0331/2025033100522_c.pdf] DisclaimerThis document is prepared by China Renaissance Holdings Limited (together with any of its subsidiaries, affiliated companies, associates, directors, management personnel, agents, advisors, or employees, collectively referred to as "China Renaissance"). The purpose of this document is solely for reference by the recipient, and the Recipient should act based on its own investment review and assessment. Under no jurisdiction shall this document constitute or be construed as an offer to sell securities or an invitation to make an offer to purchase securities. China Renaissance makes no representations or warranties, nor provides any guarantees, regarding the content of this document. China Renaissance does not act on behalf of the Recipient. The distribution of this document in certain jurisdictions may be restricted or prohibited by applicable laws or regulations. Recipients are obligated to comply with all restrictions or prohibitions in such jurisdictions. China Renaissance assumes no liability for any risks arising from the use, misuse, reliance, distribution, or possession of this document, which shall be borne solely by the Recipient. Without the prior written consent of China Renaissance, this document or any part thereof shall not be disclosed or used for any other purpose. Recipients with inquiries should seek professional advice from their independent advisors.
Shareholders have rejected Align Partners' proposal for a cumulative voting system, reaffirming board independence Key agenda items, including the appointment of outside directors and the retirement of 650,000 treasury stocks to enhance shareholder returns, were approved SEOUL, South Korea, March 31, 2025 /PRNewswire/ -- Coway Co., Ltd., the "Best Life Solution Company," has announced that it has today held its 36th Annual General Meeting (AGM) at its Yugu office in Gongju City, Chungcheongnam Province, South Korea. Coway Holds 36th Annual General Meeting During the AGM, shareholders approved key agenda items that included the ratifying of financial statements, consolidated financial statements and statements of the appropriation of retained earnings; the appointment of outside directors; the appointment of audit committee members; the approval of limitations on directors' remuneration; and capital reduction for the purpose of treasury shares' cancellation. Shareholders also rejected Align Partners Capital Management Inc.'s ("Align Partners") proposal to introduce a cumulative voting system. A Coway official stated, "Our shareholders have reaffirmed that the current board operation ensures sufficient operational independence and transparency, making it suitable for ongoing sustainable growth and shareholder value enhancement." As part of its mid-to-long-term shareholder return policy, Coway approved the retirement of approximately 650,000 treasury shares. The company also announced plans to continue repurchasing and canceling treasury shares to significantly increase the total shareholder return rate from 20% to 40%, alongside other measures designed to further enhance shareholder value. This year's AGM also saw Coway appoint Jungho Kim, Professor at the Graduate School of International Studies of Korea University, and Taehong Kim, CEO of Growth Hill Asset Management Co., Ltd., as new outside directors, while Gilyeon Lee was reappointed to the same role. Taehong Kim and Gilyeon Lee have also been appointed as audit committee members, while Align Partners' nominee for outside director and audit committee member voluntarily resigned, resulting in the agenda item's dismissal. Jangwon Seo, CEO of Coway, said, "Increased investment in R&D to the end of developing innovative products and technologies has resulted in strong sales growth for our Icon water purifier series and BEREX mattress and massage chair range across both domestic and global markets, reinforcing our status as stable performers within the market. Moving forward, we will work to further strengthen our core businesses, enhance shareholder returns and advance governance in order to increase corporate value and shareholder trust." About Coway Co., Ltd. Established in Korea in 1989, Coway, the "Best Life Solution Company," is a leading environmental home appliances company making people's lives healthy and comfortable with innovative home appliances such as water purifiers, air purifiers, bidets, and mattresses. The company's most recent venture, the BEREX brand, aims to improve sleep and wellness through cutting-edge mattresses and massage chairs. Since being founded, Coway has become a leader in the environmental home appliances industry, with intensive research, engineering, development, and customer service. The company has proven dedication to innovation with award-winning products, home health expertise, unrivaled market share, customer satisfaction, and brand recognition. Coway continues to innovate by diversifying product lines and accelerating overseas business in Malaysia, USA, Thailand, China, Indonesia, Vietnam, Japan, and Europe, based on the business success in Korea. For more information, please visit http://www.coway.com/ or http://newsroom.coway.com.
Global Footprint and B2C-B2B Synergies Drive Long-term Development Results Highlights Revenue surged by 71.7% to historical high of US$345.78 million. Net profit hit historical high and grew by 151.5% to US$19.04 million, net profit margin improved by 1.7 percentage points to 5.5%. The Board of Directors has recommended a final dividend of HK7.5 cents per share. The Business-to-Customer (B2C) YesStyle Platforms recorded revenue of US$265.64 million, up 67.4%, contributing 76.8% of the Group's total revenue, and continued to be the most visited platform for Asian beauty products in major overseas markets. Revenue of the Business-to-Business (B2B) platform AsianBeautyWholesale up by 100.2% to US$77.67 million, contributing 22.5% of the Group's total revenue. The YesStyle Influencer Program, with approximately 403,000 unique influencers across various social media platforms, contributed 27.6% of revenue to YesStyle Platforms. HONG KONG SAR - Media OutReach Newswire - 31 March 2025 - YesAsia Holdings Limited ("YesAsia Holdings", and together with its subsidiaries, the "Group") (02209.HK), a leading e-commerce platform operator recognized for its expertise in identifying and procuring quality Asian beauty and lifestyle products, announced its annual results for the year ended 31 December 2024 (the "Year"). The Group's revenue rose by 71.7% to US$345.78 million, owed mainly to the notable contribution from beauty products via the YesStyle Platforms and AsianBeautyWholesale ("ABW"). Gross profit increased by 68.1% to US$105.39 million, and gross profit margin remained stable at 30.5%. As a result, profit for the Year reached US$19.04 million, a 1.5 times leap, and net profit margin improved by 1.7 percentage points to 5.5%. Basic earnings per share were US4.74 cents (2023: US1.91 cents). As at 31 December 2024, the Group was in a healthy financial position with bank and cash balance and unutilized bank facilities amounting to US$39.82 million (2023: US$31.83 million), laying for it a solid foundation for future development. To reward shareholders for their long-standing support, the Board of Directors has recommended payment of a final dividend of HK7.5 cents per share (2023: HK5 cents per share). Enhancing Logistics and Marketing Capabilities to Support Global Expansion The Group has made market diversification its priority for meeting rising global demand for Asian beauty products, as well as for securing multi-regional revenue streams to help it mitigate geopolitical and trade risks on its performance. The approach has yielded exponential growth in non-core markets, which accounted for 50.2% of the Group's total revenue during the Year, increasing by 117.0% and outpacing the revenue growth of core English-speaking markets (the US, UK, Australia, and Canada) for the second consecutive year. Key drivers included the robust demand in European hubs like France and Germany, and emerging regions such as Latin America and the Middle East, where appetite for Asian beauty products has been rapidly rising. To fuel expansion, the Group enhanced its marketing capabilities across 40 European countries, 19 Spanish-speaking Latin American countries, and 25 Arabic-speaking countries. YesStyle Platforms bolstered localization efforts to ensure seamless access for its diverse global consumer base. An Arabic-language website was launched, expanding its multilingual support to eight languages, including French, German, Spanish, Italian, Dutch, English, and Chinese. A dedicated regional office in Berlin, Germany further strengthened on-the-ground marketing, combining European and Arabic language expertise to drive regional engagement. Moreover, the Group optimized its global logistics network across Hong Kong, the US, and Europe, enabling faster, cost-effective delivery worldwide while advancing supply chain agility. A second autonomous mobile robotics (AMR) warehouse in Hong Kong, slated for operation in April 2025, will become the Group's largest automated facility, set to help improve operational efficiency and flexibility. Bridging Asian Beauty Demand through Expanded B2C-B2B Networks The Group's B2C and B2B segments both delivered robust performance in 2024, with the latter deemed as a key future growth driver. YesStyle Platforms solidified the market-leading position as the most-visited platform for Asian beauty products in major overseas markets, including the US, UK, Australia, Canada, France, Germany, Italy, Netherlands, Spain, Poland, Greece, Belgium, Mexico, Chile, Peru, United Arab Emirates and Kingdom of Saudi Arabia. 1 Three major sales campaigns mounted in 2024 were significant sales boosters, lifting average sales quantity up by between 300% to over 2,000%. In total, nine seasonal campaigns, including the three proven, have been planned for 2025, to reinforce the platforms' capacity to engage global beauty enthusiasts. The YesStyle Influencer Program generated US$73.29 million in referral revenue and launched a comprehensive account management service. Twenty brands joined this Year to benefit from content creation and ongoing engagement for optimal brand alignment and audience reach. Building on the success of its B2C business, the Group strategically expanded ABW's operation during the Year to capture soaring wholesale demand for Asian beauty products. Enhancement initiatives included establishing dedicated teams serving various clients to facilitate wholesale orders of different requirements, as well as partnerships with high-street retail chains to strengthen the visibility of Asian beauty brands in offline retail spaces. One of the alliances ABW formed this Year was with Kiokii Inc., a leading Canadian beauty chain, marking its formal entry into the offline retail market in North America. ABW not only supplied them with the latest seasonal products but also supported their marketing plans with big data analytics. These efforts brought measurable growth in the early stage of expansion of B2B business, with customer numbers rising 3.6%, orders surging 50.8%, and average order size swelling 32.7% year-on-year, reflective of its strong scalability and potential to become one of the pillars to support the Group's long-term growth. Mr. Joshua Lau, Founder, Executive Director and Chief Executive Officer, said: "The global passion for Asian beauty, led by K-beauty, is currently riding a rising tide. As a market leader, YesAsia is accelerating strategic investments to tap that growth momentum. Our second smart warehouse to start operation in April 2025 will redefine speed and scale for us, and our B2B expansion efforts will unlock new partnerships. Innovation gives us the drive, but agility is what defines us. We will address broader market uncertainties by maintaining vigilance and adjusting strategies as needed. Supported by established partnerships with K-beauty brands, a clear global roadmap, and diversified risk-management plans, we are poised to seize opportunities and create value for shareholders and stakeholders over the long term." 1 Global Online Retailing Industry Independent Market Research by Frost & Sullivan in 2024. Traffic includes both Web and App traffic. Hashtag: #YesAsiaThe issuer is solely responsible for the content of this announcement.About YesAsia Holdings Limited (02209.HK)Established in 1997, YesAsia Holdings is a leading e-commerce platform operator recognized for its expertise in identifying and procuring quality Asian beauty, fashion, lifestyle and entertainment products. Headquartered in Hong Kong, the Group deliver products promptly and efficiently to a global audience through its strong ties with over 400 leading Asian beauty brand and supplier partners. The Group operates three major e-commerce platforms: YesStyle, an e-commerce B2C platform for serving the increasingly popular Asian beauty, fashion and lifestyle products, particularly Korean beauty products; AsianBeautyWholesale, a B2B platform for Asian beauty products; and YesAsia, an e-commerce retail platform for entertainment products. YesAsia Holdings is a constituent member of the MSCI Hong Kong Micro Cap Index. For more information, please visit the Group's official website: https://www.yesasiaholdings.com/
XI'AN, China, March 31, 2025 /PRNewswire/ -- Entrepreneur Universe Bright Group ("EUBG" or the "Company"), a Nevada corporation, today announced its audited financial results for the fiscal year ended December 31, 2024. The Company reported total revenue of $5.27 million, representing a 15.5% decrease from $6.24 million in 2023. In August 2024, the Company declared a special cash dividend of $0.0013 per share, amounting to approximately $2.2 million, which was distributed to shareholders in September 2024. This move reflects the Company's commitment to delivering shareholder value while maintaining a solid financial position. Financial Highlights Total Revenue: $5.27 million in fiscal year 2024, a decrease of 15.5% from $6.24 million in 2023, primarily due to reduced revenue in a client who is engaged in live streaming business. However, increased revenue of $471,979 from other consultancy services partially offset the decline. Net Income: $1.49 million in 2024, representing a decrease of approximately 34.8% compared to $2.28 million in 2023, yet the Company remained profitable. Cash Dividend: In September 2024, the Company paid a one-time special cash dividend of approximately $2.2 million, reflecting its financial stability and ongoing commitment to shareholder returns. Business and Market UpdateEUBG operates primarily through its wholly-owned subsidiary in China, Xi'an Yun Chuang Space Information Technology Co., Ltd. ("PRC Subsidiary"), and focuses on providing digital marketing consulting services. The Company assists startups and small businesses in enhancing brand visibility and improving sales performance through e-commerce platforms. Despite a decline in live-streaming business revenue, the Company mitigated associated risks by expanding other consultancy services. Strategic OutlookEUBG plans to further expand its digital marketing consultancy services, including brand positioning, omni-channel sales strategy development, and e-commerce traffic optimization. Risks and ChallengesThe Company acknowledges multiple operational risks, including fluctuations in the Chinese renminbi, rising labor costs, and other factors that may impose pressure on the Company's operations. Management CommentaryMr. Guolin Tao, CEO of EUBG, stated: "Despite the challenging market environment in 2024, we maintained profitability by optimizing our business structure and controlling costs. Moving forward, we will continue to diversify our service offerings, and proactively address changes in the regulatory landscape." About Entrepreneur Universe Bright GroupEntrepreneur Universe Bright Group is a Nevada holding company that conducts its operations through its wholly-owned subsidiaries in Hong Kong SAR and the mainland of the People's Republic of China. The Company primarily engages in consulting, sourcing, and marketing services in China with support from its Hong Kong subsidiary. EUBG is committed to providing business consulting services across multiple markets in China. For more information, please visit: www.eubggroup.com. Safe Harbor StatementThis press release contains projections and "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995 related to the Company's business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are not historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate," or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from those discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; future business development; financial condition and results of operations; product and service demand and acceptance; competition and pricing pressures; changes in technology; government regulations; fluctuations in economic and business conditions in China; and assumptions underlying or related to any of the foregoing and other risks contained in the Company's filings with the SEC. Investors are cautioned not to place undue reliance on any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances.
Earnings
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