Sign in

SORA on Nasdaq

AsiaStrategy

AsiaStrategy is a wholesale-jewelry company in the Cayman Islands, listed on Nasdaq (SORA).1

Price unavailable

Last updated Oct 21, 2026.

Overview

$11.0MRevenue, fiscal 20252
$12.3MNet income, fiscal 20252

Compare with HUI Gold Index, or pick any stock.

  • TickerSORA on Nasdaq1
  • IndustryWholesale-Jewelry, Watches, Precious Stones & Metals1
  • HeadquartersE91
  • Incorporated inCayman Islands3
  • Business address33/F Sunshine Plaza 353 Lockhart Road, Wan Chai, Hong Kong3
  • Filer categoryNon-accelerated filer, Emerging growth company3
  • Legal formCorporation

See how the biggest companies compare on our leaderboards

Ordinary Shares are issued and outstanding. The Ordinary Shares offered in this annual report are those of AsiaStrategy.4 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

3.5%Gross margin2
-14.3%Operating margin2
111.9%Net margin2
-37.7%Revenue growth, 20252
56.4%Return on equity2
0.14×Debt to equity2
-$4.3MFree cash flow2

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue46¢$10.6M
  • Income tax1¢$159.1K
  • Profit53¢$12.3M

Out of $11.0M in revenue.2

Financial statements

Revenue52$11.0M in 2025−23% since 2022
0$5.0M$10.0M$15.0M$20.0M2022: $14.2M$14.2M20222023: $18.8M$18.8M2023+32%2024: $17.6M$17.6M2024−6%2025: $11.0M$11.0M2025−38%
Gross profit52$381.7K in 2025−70% since 2022
0$500.0K$1.0M$1.5M2022: $1.3M$1.3M20222023: $1.4M$1.4M2023+9%2024: $1.4M$1.4M2024+3%2025: $381.7K$381.7K2025−73%
Operating income52-$1.6M in 2025
-$2.0M-$1.0M0$1.0M2022: $193.5K$193.5K20222023: $526.8K$526.8K2023+172%2024: $228.4K$228.4K2024−57%2025: -$1.6M-$1.6M2025
Net income52$12.3M in 2025+16977% since 2022
-$5.0M0$5.0M$10.0M$15.0M2022: $72.0K$72.0K20222023: $196.7K$196.7K2023+173%2024: -$42.2K-$42.2K20242025: $12.3M$12.3M2025

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Revenue$11.0M$17.6M$18.8M
Cost of revenue-$10.6M-$16.2M-$17.4M
Gross profit$381.7K$1.4M$1.4M
Selling and marketing-$149.0K-$58.8K-$163.6K
General and administrative-$1.8M-$1.1M-$681.9K
Total operating expenses-$2.0M-$1.2M-$845.5K
(Loss) income from operations-$1.6M$228.4K$526.8K
Interest expense-$296.2K-$283.0K-$336.8K
Interest income$120.5K$1.7K$488
Unrealized losses on digital assets, net-$796.5K
Unrealized gains on investment in equity securities, net$15.1M
Other (expense) income, net-$142.6K$2.1K$22.4K
Total other income (expense), net$14.0M-$279.2K-$313.9K
Income (loss) before income taxes$12.5M-$50.8K$212.8K
Income tax (expenses) benefits-$159.1K$8.6K-$16.1K
Net income (loss)$12.3M-$42.2K$196.7K
Foreign currency translation adjustments-$10.5K-$3.0K$1.4K
Total comprehensive income (loss)$12.3M-$45.2K$198.1K
Net income (loss) for basic earnings (loss) per share purposes$12.3M-$42.2K$196.7K
Add: interest expense of convertible debts$64.9K
Net income (loss) for diluted earnings (loss) per share purposes$12.4M-$42.2K$196.7K
Weighted average shares outstanding used in calculating basic earnings (loss) per share (in Shares)24.2M shares20.6M shares20.0M shares
Effect of dilutive securities: convertible debts (in Shares)472.4K shares
Weighted average shares outstanding used in calculating diluted earnings (loss) per share (in Shares)24.7M shares20.6M shares20.0M shares
Ordinary shares basic (in Dollars per share)$0.51-$0.00$0.01
Ordinary shares diluted (in Dollars per share)$0.50-$0.00$0.01

Compare AsiaStrategy with another company

Corporate structure

AsiaStrategy 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 AsiaStrategy

  • Sora Vision Ltd Filed SCHEDULE 13D/A on AsiaStrategy, latest Feb 4, 2026 (3 filings since Nov 10, 2025)
  • Kwan Ngai Filed SCHEDULE 13G/A on AsiaStrategy, latest Nov 14, 2025 (2 filings since Aug 12, 2025)
  • AsiaStrategy E9

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What AsiaStrategy 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

ItemLatestA year beforeChange
Property and equipment, net$4.3K2 Dec 31, 2025$1.0K2 Dec 31, 2024+316.9%
Operating-lease assets (leased space)$828.7K2 Dec 31, 2025

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.5M2 Dec 31, 2025$2.6M2 Dec 31, 2024−44.5%
Equity securities at fair value$17.6M2 Dec 31, 2025
Deposits held (banks)$3.0M5 Dec 31, 2024$1.5M5 Dec 31, 2023+107.4%

Inventory

ItemLatestA year beforeChange
Inventory, total$7.1M2 Dec 31, 2025$2.2M2 Dec 31, 2024+228.2%

Leadership

Who has led AsiaStrategy, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Jason Kin Hoi Fang2026–now
  2. Kwan Ngai2026–now

Chief financial officer

  1. Fung Yee Mary Wong2026–now

Chief operating officer

  1. Man Wa Claudia Ho2026–now
Board members and other officers (5)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorMary Fung Yee WONG named Sep 2, 202512
  • DirectorShuo Fung Yee CHEN named Sep 2, 202512
  • DirectorXiaojun Fung Yee WANG named Sep 2, 202512

Former names

  • Top Win International LtdAug 16, 2024 to Aug 22, 20253

Timeline

  1. Mar 18, 2026New chief executive Kwan Ngai becomes CEO7
  2. Mar 18, 2026New chief executive Jason Kin Hoi Fang becomes CEO6

Filings

68 filings to the SEC since October 2021: 2 annual reports, 7 insider forms, 5 large holders, 1 private raises, 53 other. The latest 20:

  1. Oct 6, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  2. Oct 1, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  3. Sep 8, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  4. Aug 17, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  5. Apr 30, 202620-F ANNUAL REPORT EDGAR
  6. Apr 21, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  7. Apr 17, 20263 EDGAR
  8. Apr 16, 20263 EDGAR
  9. Mar 18, 20263 EDGAR
  10. Mar 18, 20263 EDGAR
  11. Mar 18, 20263 EDGAR
  12. Mar 18, 20263 EDGAR
  13. Mar 18, 20263 EDGAR
  14. Mar 5, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  15. Feb 4, 2026SCHEDULE 13D/A EDGAR
  16. Dec 16, 2025SCHEDULE 13D/A EDGAR
  17. Dec 15, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  18. Nov 14, 2025SCHEDULE 13G/A EDGAR
  19. Nov 10, 2025SCHEDULE 13D EDGAR
  20. Nov 10, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR

The 68 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.

Funding

Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.

Money received by year$2.2M 2025–2025
Money received by yearMoney received by year, 2025–2025: $2.2M in all. Private raises (Form D) $2.2M.$0$1M$2M$3M2025 · Private raises (Form D): $2.2M2025
Figures by year
YearPrivate raises (Form D)Total
2025$2.2M$2.2M

Private raises

Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.

  1. Aug 15, 2025Raised $2.2 million in a private offering of debt12 Form D: 2 investors so far Form D

SEC filer profile

How AsiaStrategy is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARAsiaStrategy1
  • CIK0002033515
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inCayman Islands4
  • Industry code (SIC)5094 Wholesale-Jewelry, Watches, Precious Stones & Metals1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business address33/F Sunshine Plaza 353 Lockhart Road, Wan Chai, Hong Kong, Hong Kong1
  • Phone852 2815 79881
  • Shares outstanding24,864,000 shares as of Dec 31, 20254
  • AuditorJ&S Associate PLT, Kuala Lumpur, Malaysia PCAOB ID 6743; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceAug 16, 20241
  • Filings68 in all: 6-K (29), 3 (7), CORRESP (5), UPLOAD (4), F-1/A (3), 20-F (2), 424B4 (2), SCHEDULE 13D/A (2)1
    All 22 form types

    6-K/A (1), 8-A12B (1), CERT (1), D (1), DRS (1), DRS/A (1), DRSLTR (1), EFFECT (1), F-1 (1), FWP (1), NT 20-F (1), SCHEDULE 13D (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)

  • Latest filingsAnnual report (20-F) Apr 30, 2026

Securities registered for trading

ClassSymbolExchange
Ordinary Shares, par value $0.0005 per shareSORANasdaq Stock Market LLC

From the cover page of the 20-F filed Apr 30, 2026 (Section 12(b) of the Exchange Act).4

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14