Overview
Compare with OLB GROUP, INC., SOCIETY PASS INCORPORATED. or Ryde Group Ltd, or pick any stock.
- TickerDPU on Nasdaq1
- IndustryServices-Business Services, NEC1
- HeadquartersE91
- Incorporated inCayman Islands4
- Business address32F, Block B, Zhongzhou Holding Financial Center, Shenzhen, 5114004
- Filer categoryNon-accelerated filer, Emerging growth company4
- Legal formCorporation
See how the biggest companies compare on our leaderboards
Hi Tech Inc.. Top KingWin Hi Tech Inc. was incorporated in the State of Colorado, U.S.A. On September 22, 2025, Top KingWin Hi Tech Inc.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Revenues From Sales Of Devices To Support AIData Collection And Analysis brought in 83% of the revenue Nexpu Ltd. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Revenues From Sales Of Devices To Support AIData Collection And Analysis | $1.6M | $6.7M |
| Revenue From Sales Of Robots | $480.0K | |
| Corporate Business Training Service | $1.1M | $419.8K |
| Service, Other | $247.1K | $215.4K |
| Corporate Consulting Service | $484.6K | $123.8K |
| Advisoryand Transaction Service | $405.3K | $123.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue91¢$7.3M
- Other costs9¢$700.4K
Out of $8.0M in revenue.3 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| REVENUES | $8.0M | $3.8M | $5.4M |
| COST OF REVENUES | -$7.3M | -$2.4M | -$1.9M |
| GROSS PROFIT | $700.4K | $1.3M | $3.6M |
| Selling expenses | -$599.7K | -$853.5K | -$2.5M |
| General and administrative expenses | -$24.3M | -$7.6M | -$3.6M |
| Total operating expenses | -$24.9M | -$8.5M | -$6.1M |
| (LOSS) INCOME FROM OPERATIONS | -$24.2M | -$7.1M | -$2.5M |
| Other income | $1.6M | $92.3K | $68.9K |
| Other expense | -$1.4M | -$1.1M | -$18.8K |
| Total other income, net | $222.9K | -$962.1K | $50.1K |
| NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | -$24.0M | -$8.1M | -$2.4M |
| Income tax expenses | -$54.5K | -$115.1K | |
| NET LOSS FROM CONTINUING OPRATIONS ATTRIBUTABLE TO THE COMPANYS SHAREHOLDERS | -$24.0M | -$8.1M | -$2.6M |
| Net income from discontinued operations | -$532.7K | $4.6K | |
| Income tax expenses from discontinued operations | $63 | ||
| NET (LOSS) INCOME FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO THE COMPANYS SHAREHOLDERS | -$532.7K | $4.6K | |
| NET LOSS | -$24.0M | -$8.7M | -$2.5M |
| Foreign currency translation loss | $32.7K | -$48.7K | -$86.9K |
| TOTAL COMPREHENSIVE LOSS | -$24.0M | -$8.7M | -$2.6M |
| Basic (loss) earnings per share (in Dollars per share) | -$26.92 | -$41.37 | -$114.16 |
| Diluted (loss) earnings per share (in Dollars per share) | -$26.92 | -$41.37 | -$114.16 |
| Weighted average number of common shares outstanding - basic (in Shares) | 892.3K shares | 209.8K shares | 22.3K shares |
| Weighted average number of common shares outstanding - diluted (in Shares) | 892.3K shares | 209.8K shares | 22.3K shares |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $13.1M | $2.8M | ||
| Accounts receivable, net | $766.3K | $465.9K | ||
| Prepayments | $19.2M | $36.8M | ||
| Other receivables | $142.2K | $586.2K | ||
| Total current assets | $33.2M | $40.8M | ||
| Property and equipment, net | $27.6K | $137.6K | ||
| Intangible assets, net | $58.0K | $63.3K | ||
| Operating lease right-of-use assets | $564.8K | |||
| Other non-current assets | $59.0K | |||
| Total non-current assets | $85.5K | $824.8K | ||
| TOTAL ASSETS | $33.3M | $41.6M | ||
| Accounts payable | $802.9K | $564.5K | ||
| Operating lease liabilities - current | $284.1K | |||
| Advance from clients | $432.4K | $489.5K | $626.9K | $187.6K |
| Taxes payable | $11.3K | $14.7K | ||
| Bonds Payable-short term | $2.0M | |||
| Accruals and other payables | $1.5M | $2.0M | ||
| Total current liabilities | $3.0M | $5.6M | ||
| Operating lease liabilities - non-current | $282.5K | |||
| Total non-current liabilities | $282.5K | |||
| TOTAL LIABILITIES | $3.0M | $5.9M | ||
| Additional paid-in capital | $63.8M | $45.3M | ||
| Statutory reserve | $282.5K | $282.5K | ||
| Accumulated deficits | -$33.6M | -$9.6M | ||
| Accumulated other comprehensive loss | -$241.7K | -$274.4K | ||
| Total shareholders equity | $30.3M | $35.7M | $7.4M | $1.9M |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | $33.3M | $41.6M |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash | $13.1M | $2.8M | ||
| Accounts receivable, net | $766.3K | $465.9K | ||
| Prepayments | $19.2M | $36.8M | ||
| Other receivables | $142.2K | $586.2K | ||
| Total current assets | $33.2M | $40.8M | ||
| Property and equipment, net | $27.6K | $137.6K | ||
| Intangible assets, net | $58.0K | $63.3K | ||
| Operating lease right-of-use assets | $564.8K | |||
| Other non-current assets | $59.0K | |||
| Total non-current assets | $85.5K | $824.8K | ||
| TOTAL ASSETS | $33.3M | $41.6M | ||
| Accounts payable | $802.9K | $564.5K | ||
| Operating lease liabilities - current | $284.1K | |||
| Advance from clients | $432.4K | $489.5K | $626.9K | $187.6K |
| Taxes payable | $11.3K | $14.7K | ||
| Bonds Payable-short term | $2.0M | |||
| Accruals and other payables | $1.5M | $2.0M | ||
| Total current liabilities | $3.0M | $5.6M | ||
| Operating lease liabilities - non-current | $282.5K | |||
| Total non-current liabilities | $282.5K | |||
| TOTAL LIABILITIES | $3.0M | $5.9M | ||
| Additional paid-in capital | $63.8M | $45.3M | ||
| Statutory reserve | $282.5K | $282.5K | ||
| Accumulated deficits | -$33.6M | -$9.6M | ||
| Accumulated other comprehensive loss | -$241.7K | -$274.4K | ||
| Total shareholders equity | $30.3M | $35.7M | $7.4M | $1.9M |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | $33.3M | $41.6M |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$24.0M | -$8.7M | -$2.5M |
| Net loss from discontinued operations | -$532.7K | $4.6K | |
| Net loss from continuing operations | -$24.0M | -$8.1M | -$2.6M |
| Provision for doubtful accounts | $18.6M | $56.0K | $72.6K |
| Depreciation and amortization | $84.2K | $89.4K | $77.5K |
| Finance expenses | $1.1M | $74.2K | |
| Non-cash operating lease expenses | $573.6K | -$211.3K | -$188.8K |
| Loss from the disposal of property and equipment | $31.5K | -$453 | $913 |
| Gain on early termination of operating lease contract | -$20.2K | ||
| Foreign exchange loss (gain) | -$1.6M | $917.7K | -$30.1K |
| Deferred tax expenses (benefit) | $115.1K | ||
| Share-based compensation expenses | $3.4M | $1.8M | |
| Loss from impairment of Goodwill | $3.0M | ||
| Investment income | $546.1K | ||
| Accounts receivable | -$113.1K | -$90.7K | -$346.3K |
| Other receivables | $394.7K | -$445.3K | $46.0K |
| Prepayments | -$36.6M | -$172.4K | |
| Accounts receivable - related party | -$52.9K | ||
| Due from related parties | $20.8K | ||
| Other non-current assets | $59.0K | -$22.9K | $3.1K |
| Accounts payable | $238.5K | $181.1K | $125.2K |
| Accruals and other payables | $43.0K | $193.9K | $404.7K |
| Deferred revenue | -$57.1K | -$209.4K | $445.8K |
| Accounts payable - related party | -$9.9K | -$58.2K | $147.3K |
| Due to related parties | -$2.7K | ||
| Taxes payable | -$3.3K | -$50.7K | $28.6K |
| Operating lease liabilities | -$575.4K | $212.5K | $193.8K |
| Net cash used in operating activities, continuing operations | -$1.3M | -$39.4M | -$1.6M |
| Net cash (used in) provided by operating activities, discontinued operations | $61.0K | $3.2K | |
| Net cash used in operating activities | -$1.3M | -$39.4M | -$1.6M |
| Purchase of property and equipment | -$10.1K | -$12.4K | -$76.4K |
| Purchase of intangible assets | -$41.6K | -$14.9K | |
| Acquisition of subsidiaries | -$4.0M | ||
| Proceeds from disposal of subsidiaries | $480.0K | $389.1K | |
| Net cash provided by (used in) investing activities from continuing operations | $469.9K | $335.1K | -$4.1M |
| Net cash (used in) provided by investing activities | $469.9K | $335.1K | -$4.1M |
| IPO proceeds net of deferred offering cost | $8.2M | ||
| Repayment to related parties | $273.4K | $69.5K | -$388.9K |
| Proceeds from issuance of convertible notes | $797.5K | $2.0M | |
| Cash paid for stock issuance costs | -$600.0K | ||
| Proceeds from capital contribution | $11.5M | $35.3M | |
| Net cash provided by financing activities from continuing operations | $12.0M | $37.3M | $7.8M |
| Net cash provided by financing activities | $12.0M | $37.3M | $7.8M |
| Effect of exchange rates on cash | -$873.2K | -$61.3K | -$68.8K |
| Net increase (decrease) in cash and restricted cash | $10.3M | -$1.8M | $2.0M |
| Cash paid for income tax | $422 | ||
| Operating lease asset obtained in exchange for operating lease obligation | $338.3K | $370.1K |
No quarter-by-quarter statement was filed.
Corporate structure
Nexpu Ltd. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Nexpu Ltd.
- Ruilin Xu Filed SCHEDULE 13D on Nexpu Ltd., latest Oct 9, 2026 (2 filings since Feb 1, 2024)
- ATW Partners Opportunities Management, LLC Filed SCHEDULE 13G/A on Nexpu Ltd., latest Nov 13, 2025 (2 filings since Dec 26, 2024)
- Astra Capital Ltd Filed SC 13G on Nexpu Ltd., latest Feb 1, 2024
- Fern Win Talent Holding Co., Ltd Filed SC 13G on Nexpu Ltd., latest Feb 1, 2024
- Huang Fei Holding Co., Ltd Filed SC 13G on Nexpu Ltd., latest Feb 1, 2024
- TIANCHENGYIHAO Holding Ltd Filed SC 13G on Nexpu Ltd., latest Feb 1, 2024
- Nexpu Ltd. E9
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Nexpu Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Accumulated depreciation | $121.8K3 Dec 31, 2025 | $302.0K3 Dec 31, 2024 | −59.7% |
| Property and equipment, net | $27.6K3 Dec 31, 2025 | $137.6K3 Dec 31, 2024 | −80.0% |
| Operating-lease assets (leased space) | $564.8K3 Dec 31, 2024 | $353.5K7 Dec 31, 2023 | +59.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $13.1M3 Dec 31, 2025 | $2.8M3 Dec 31, 2024 | +365.0% |
| Deposits held (banks) | $30.3K3 Dec 31, 2025 | $30.3K7 Dec 31, 2024 | 0% |
Intangibles and goodwill
Leadership
Who has led Nexpu Ltd., and when. Pick a name to see everywhere that person has worked.
Chief executive
Board members and other officers (5)
- Executive DirectorDongliang Mao Jun 18, 2026 to now10
- Board memberDongliang Mao May 15, 2026 to now11
- Board memberYibing Li May 15, 2026 to now12
- Board memberZhanlin Liao May 15, 2026 to now13
- Board memberRuilin Xu Jun 18, 2026 to now9
Named in SEC Form D filings
People the company listed in its private-offering notices.
Former names
- Top KingWin LtdAug 26, 2022 to Sep 3, 20264
Timeline
- Jun 18, 2026New chief executive Ruilin Xu becomes CEO9
Filings
106 filings to the SEC since October 2021: 4 annual reports, 11 insider forms, 8 large holders, 1 private raises, 82 other. The latest 20:
- Oct 9, 2026SCHEDULE 13D EDGAR
- Sep 3, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 19, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 4, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jul 24, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jul 17, 2026S-8 REGISTRATION STATEMENT EDGAR
- Jun 25, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20264 EDGAR
- Jun 18, 20263 EDGAR
- May 22, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- May 18, 20263 EDGAR
- May 15, 20263 EDGAR
- May 15, 20263 EDGAR
- May 15, 20263 EDGAR
- May 15, 20263 EDGAR
- Apr 24, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
The 106 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Ruilin XuSCHEDULE 13D, 2 filings Feb 1, 2024 to Oct 9, 202615
- ATW Partners Opportunities Management, LLCSCHEDULE 13G/A, 2 filings Dec 26, 2024 to Nov 13, 202516
- Astra Capital LtdSC 13G, 1 filing Feb 1, 202417
- Fern Win Talent Holding Co., LtdSC 13G, 1 filing Feb 1, 202418
- Huang Fei Holding Co., LtdSC 13G, 1 filing Feb 1, 202419
- TIANCHENGYIHAO Holding LtdSC 13G, 1 filing Feb 1, 202420
Money raised
Private offerings the company reported to the SEC on Form D.
- Nov 25, 2024Raised $2.5 million in a private offering of debt Form D: 1 investor so far Form D
SEC filer profile
How Nexpu Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARNexpu Ltd.1
- CIK0001938865
- Filer statusNon-accelerated filer an emerging growth company; not a shell company5
- Incorporated inCayman Islands5
- Fiscal year endsDecember 311
- Industry code (SIC)7389 Services-Business Services, NEC1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address32F, Block B, Zhongzhou Holding Financial Center, Shenzhen, Guangdong 511400, China1
- Phone86182194456691
- Shares outstanding2,298,365 Common Class A shares; 58,861 Common Class B shares as of Dec 31, 20255
- AuditorTang Qian & Associates, PLLC, Flower Mound, United States PCAOB ID 7080; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceAug 26, 20221
- Filings106 in all: 6-K (38), CORRESP (9), UPLOAD (7), 3 (6), 4 (5), SC 13G (5), 20-F (4), S-8 (4)1
All 29 form types
F-3/A (3), 424B5 (2), DRS/A (2), DRSLTR (2), EFFECT (2), F-1/A (2), 144 (1), 424B4 (1), 424B8 (1), 6-K/A (1), 8-A12B (1), CERT (1), D (1), DRS (1), F-1 (1), F-3 (1), FWP (1), NT 20-F (1), SCHEDULE 13D (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (20-F) Apr 8, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A Ordinary Shares, par value $0.0625 | Nasdaq |
From the cover page of the 20-F filed Apr 8, 2026 (Section 12(b) of the Exchange Act).5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARNexpu Ltd. filings on SEC EDGAR
- 2Yahoo FinanceDPU quote
- 3SEC EDGARNexpu Ltd. 10-K for fiscal 2025
- 4SEC EDGARNexpu Ltd. filings on SEC EDGAR
- 5
- 6SEC EDGARNexpu Ltd. 10-K for fiscal 2020
- 7SEC EDGARNexpu Ltd. 10-K for fiscal 2022
- 8SEC EDGARNexpu Ltd. 10-K for fiscal 2021
- 9SEC EDGARRuilin Xu, Chief executive officer
- 10SEC EDGARDongliang Mao, Executive Director
- 11SEC EDGARDongliang Mao, Board member
- 12SEC EDGARYibing Li, Board member
- 13SEC EDGARZhanlin Liao, Board member
- 14SEC EDGARNexpu Ltd. Form D naming Jie Yang
- 15SEC EDGARRuilin Xu SCHEDULE 13D on Nexpu Ltd.
- 16
- 17
- 18
- 19
- 20