Top Win International Limited

SORA · NASDAQ · Consumer Cyclical / Luxury Goods

2.20USD-0.23 (-9.47%)

Price History

Full chart

Market Stats

Previous Close2.43

Open2.30

Day Range2.20 – 2.30

52-Week Range1.25 – 6.99

Volume729

Market Cap49.73M

P/E (TTM)4.00

Forward P/E0.00

EPS0.50

Dividend Yield0.00%

50-Day Avg2.16

200-Day Avg2.35

About

AsiaStrategy, together with its subsidiaries, engages in trading, distribution, and retail of luxury watches in Hong Kong. The company sells its products under the Omega, Cartier, Rolex, Longines, Audermars Piguet, Patek Philippe, Blancpain, Casio, Breguet, and Hublot brand names. It serves business-to-business (B2B) customers including distributors, independent watch dealers, and retail sellers. The company was formerly known as Top Win International Limited and changed its name to AsiaStrategy in August 2025. The company was founded in 2001 and is based in Wan Chai, Hong Kong. AsiaStrategy is a subsidiary of Pride River Limited.

Company Details

SectorConsumer Cyclical
IndustryLuxury Goods
CEOMr. Kwan Ngai
Employees7
HeadquartersSunshine Plaza, Wan Chai, Hong Kong, USA
Websitehttps://asiastrategy.io

Leadership

Mr. Kwan NgaiCo-CEO & Director · b. 1986
Ms. Fung Yee WongCFO & Director · b. 1961
Ms. Man Wa HoChief Operating Officer · b. 1990
Mr. Kin Hoi FangCo-CEO & Chairman of the Board · b. 1993
Mr. Tong LiuChief Investment Officer · b. 1990

Financials

Income Statement

Currency: USD	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Revenue	14.23M	18.81M	17.62M	1.41M
Growth (%)	-	+32.26%	-6.35%	-92.00%
Cost of Revenue	12.96M	17.44M	16.20M	1.37M
Gross Profit	1.26M	1.37M	1.42M	36.41K
Gross Margin	8.88%	7.29%	8.04%	2.58%
Operating Expense	1.07M	845.47K	1.19M	238.58K
Operating Income	193.51K	526.76K	228.41K	-202.16K
Operating Margin	1.36%	2.80%	1.30%	-14.35%
EBITDA	248.86K	551.38K	233.40K	-189.62K
EBITDA Margin	1.75%	2.93%	1.32%	-13.46%
Net Income	71.99K	196.73K	-42.22K	1.58M
Net Income Margin	0.51%	1.05%	-0.24%	111.91%
Interest Expense	170.53K	336.82K	283.02K	37.99K
Interest Expense % of Total Revenue	1.20%	1.79%	1.61%	2.70%

Balance Sheet

Currency: USD	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Total Assets	5.99M	5.57M	6.63M	5.10M
Total Liabilities	6.78M	6.16M	5.25M	2.30M
Total Equity	-789.65K	-591.51K	1.37M	2.80M
Cash	806.63K	1.12M	2.64M	188.14K
Total Debt	5.86M	5.77M	5.18M	1.82M
Net Debt	5.05M	4.65M	2.54M	1.63M

Cash Flow

Currency: USD	2022-12-31	2023-12-31	2024-12-31	2025-12-31
Operating Cash Flow	-2.16M	1.36M	-463.00K	-554.39K
Investing Cash Flow	-	-	-	-1.92M
Financing Cash Flow	1.98M	-1.05M	1.97M	2.28M
Capital Expenditure	0	3.71	4.19	618
Free Cash Flow	-2.16M	1.36M	-463.00K	-555.01K
Dividends Paid	446.97K	0	0	-
FCF to OCF	100.00%	100.00%	100.00%	100.11%
Dividend Paid to FCF	-20.71%	0.00%	0.00%	-

Earnings

Report Date	Nov 25, 2024	May 12, 2025	Dec 15, 2025
EPS Estimate	0.00	0.00	0.00
EPS Actual	-0.01	0.01	-0.02
Surprise	-	-	-
Timing	-	-	-

Key Statistics & Ratios

Market Cap49.73M

Enterprise Value50.77M

Trailing P/E4.00

Forward P/E0.00

Price / Sales4.53

Price / Book2.55

EPS0.50

Book Value0.877

Revenue (TTM)10.99M

Gross Profit (TTM)381.66K

EBITDA-1.57M

Profit Margin111.91%

Operating Margin-15.97%

Return on Equity106.10%

Return on Assets-4.25%

Shares Outstanding24.86M

Shares Float4.86M

Dividend Yield0.00%

Dividend Rate0.00

Payout Ratio0.00%

Ownership Breakdown

Institutions: 0.14%
Insiders: 58.12%
Retail / Other: 41.74%

Top Institutional Holders

Geode Capital Management, LLC
15.11K0.06%
Wedbush Morgan Securities Inc
13.06K0.05%
EFG International AG
1.50K0.01%
Tower Research Capital LLC
1.40K0.01%
UBS Group AG
1.25K0.01%
BlackRock Inc
9790.00%
Morgan Stanley - Brokerage Accounts
00.00%

Top Fund Holders

Fidelity Nasdaq Composite Index
15.11K0.06%