YesAsia Holdings Limited (2209) AI Stock Analysis

YesAsia Holdings Limited

(HKEX:2209)

Select Model

Rating:71Outperform

Price Target:HKD 3.00▲(1.69% Upside)

Action:upgraded

Date:10/28/26

The score is supported primarily by strong financial recovery and attractive valuation, while weak technical momentum and inconsistent historical cash generation are key risks.

Positive Factors

Profitability turnaroundThe shift from losses in 2021–2022 to sustained profitability in 2023–2025 shows that the operating model has materially improved. Continued positive EBIT, EBITDA and net income provide a stronger base for reinvestment and resilience over the next several quarters.

Negative Factors

Cash-flow volatilityUneven cash conversion weakens the reliability of reported earnings and can make internally funded growth less predictable. The 2025 recovery is encouraging, but another period of weak operating cash flow or negative free cash flow could restrict investment flexibility and financial resilience.

YesAsia Holdings Limited (2209) vs. iShares MSCI Hong Kong ETF (EWH)

Market Cap: HKD 1.21B
Dividend Yield: 3.39%
Average Volume (3M): 561.67K
Price to Earnings (P/E): 5.8
Beta (1Y): 0.68
Revenue Growth: 31.51%
EPS Growth: 22.05%
Country: Hong Kong
Employees: 610
Sector: Consumer Cyclical
Sector Strength: 61
Industry: Specialty Retail

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 transac...

YesAsia Holdings Limited Financial Statement Overview

Summary

Strong revenue growth and a return to profitability, improved leverage, and recovering operating cash flow support the score. However, historical losses and inconsistent free cash flow limit it.

Income Statement

82Very Positive

Balance Sheet

78Positive

Cash Flow

75Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	558.40M	501.54M	345.78M	201.34M	128.59M	162.02M
Gross Profit	162.93M	148.50M	105.39M	62.70M	42.73M	55.62M
EBITDA	52.86M	43.13M	31.90M	15.49M	1.27M	4.65M
Net Income	27.38M	23.21M	19.05M	7.57M	-6.78M	-2.06M
Balance Sheet
Total Assets	192.37M	163.74M	120.57M	74.48M	63.72M	69.89M
Cash, Cash Equivalents and Short-Term Investments	20.71M	22.74M	15.53M	25.18M	18.80M	36.47M
Total Debt	35.09M	34.62M	22.80M	12.18M	15.46M	12.76M
Total Liabilities	99.29M	83.69M	67.58M	39.43M	36.59M	33.60M
Stockholders Equity	93.21M	80.13M	53.00M	35.05M	27.14M	36.29M
Cash Flow
Free Cash Flow	19.89M	6.10M	-1.27M	8.21M	-9.51M	-1.33M
Operating Cash Flow	18.24M	12.76M	1.95M	8.99M	-5.08M	252.00K
Investing Cash Flow	1.26M	-10.61M	-3.10M	1.38M	993.00K	-10.04M
Financing Cash Flow	-18.03M	-1.55M	-7.51M	-1.95M	-8.19M	10.81M

YesAsia Holdings Limited Technical Analysis

Technical Analysis SentimentNegative

Last Price2.95

Price Trends

50DMA3.30Negative

100DMA3.15Negative

200DMA3.15Negative

Market Momentum

MACD-0.12Positive

RSI40.09Neutral

STOCH42.25Neutral

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 2.95 is below the 20-day moving average (MA) of 3.08, below the 50-day MA of 3.30, and below the 200-day MA of 3.15, indicating a bearish trend. The MACD of -0.12 indicates Positive momentum. The RSI at 40.09 is Neutral, neither overbought nor oversold. The STOCH value of 42.25 is Neutral, 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

Overall Rating

UnderperformOutperform

Sector (61)

Financial Indicators

HK:2209 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
HK:2209	71Outperform	HKD 1.21B	5.76	31.59%	3.39%	31.51%	22.05%
HK:9618	68Neutral	HKD 273.63B	16.54	6.63%	3.86%	7.53%	-57.52%
Sector *	61Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
HK:9988	59Neutral	HKD 1.93T	22.16	7.04%	1.03%	8.06%	-48.95%
HK:9896	50Neutral	HKD 24.06B	17.47	14.11%	6.47%	30.79%	-44.14%
HK:1939	49Neutral	HKD 317.37M	-14.38	-8.54%	―	73.16%	-10.80%
HK:0493	37Underperform	HKD 758.47M	-0.08	21.77%	―	-28.44%	42.64%

* Consumer Cyclical Sector Average

Performance Comparison

HK:2209 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
HK:2209	YesAsia Holdings Limited	2.95	-1.52	-34.08%
HK:0493	GOME Retail Holdings	0.01	-0.01	-44.44%
HK:9618	JD.com, Inc. Class A	101.60	-17.48	-14.68%
HK:9896	MINISO Group Holding Ltd.	20.16	-20.20	-50.05%
HK:9988	Alibaba Group Holding Ltd.	99.45	-58.15	-36.90%
HK:1939	Tokyo Chuo Auction Holdings Ltd.	0.62	-7.76	-92.60%

YesAsia Holdings Limited Corporate Events

YesAsia Grants 1.45 Million Share Options to Employees Under Post-IPO Scheme

Oct 26, 2026

YesAsia Holdings Limited has granted 1,450,000 share options under its Post-IPO Share Option Scheme to seven employee participants, including one senior manager, at an exercise price of HK$3.06 per share. None of the grantees is a director, chief exe...

YesAsia lifts quarterly orders and profit on higher-margin mix and cost gains

Oct 23, 2026

YesAsia Holdings reported a strong third-quarter 2026 business update, with total order amounts rising 24.9% year-on-year to US$157.5 million, driven by a 27.9% increase on its YesStyle platforms and a 19.0% gain in its ABW online and offline wholesa...

YesAsia Holdings to Publish Unaudited Interim Results for First Half of 2026

Aug 28, 2026

YesAsia Holdings Limited has released its unaudited consolidated interim results for the six months ended 30 June 2026, fulfilling Hong Kong listing requirements for preliminary interim disclosures. The full interim report, containing detailed financ...

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.

Date of analysis: Oct 28, 2026

YesAsia Holdings Limited AI Stock Analysis