AsiaStrategy (SORA)
Nasdaq Market Closed
AsiaStrategy is a luxury watch trading business that operates across wholesale, distribution, and retail channels. The company focuses on internationally recognised watch brands and participates in the secondary and supply-chain side of the luxury timepiece market, buying inventory from established sourcing locations and reselling it to commercial customers. Its procurement network spans major watch-trading hubs including Europe, Singapore, Japan, and Hong Kong, giving the group access to markets where premium watches are actively bought, sold, and redistributed.
The company’s business model depends on product sourcing, authentication, inventory selection, and relationships with downstream buyers such as watch retailers and other distributors. Rather than manufacturing watches, AsiaStrategy acts as an intermediary within the luxury goods ecosystem, helping move branded timepieces from supply markets to retail-facing channels. This places the company in a market shaped by brand desirability, scarcity of particular models, consumer demand for collectible watches, and pricing trends in global luxury resale.
For investors, AsiaStrategy represents exposure to a niche segment of discretionary consumer spending. Luxury watches can attract demand from collectors, affluent consumers, and buyers who treat certain models as portable stores of value, although the market can be cyclical and sensitive to changes in wealth effects, tourism, interest rates, and broader consumer confidence. The company’s performance is likely tied to its ability to source desirable inventory at competitive prices, maintain trusted supplier and customer relationships, and manage working capital in a business where high-value stock can represent a significant commitment of cash.
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Income Statement
| Line Item | 2025 Q4 |
|---|---|
| Revenue | 10.99M |
| Cost of revenue | 10.6M |
| Gross profit | 381.66K |
| Operating income | -1.58M |
| EBITDA | -1.57M |
| Net income | 12.29M |
| Income taxes | 159.13K |
| Interest expense | -296.19K |
| Other operating expenses | 0 |
| Total operating expenses | 1.96M |
| Basic EPS | 0.51 |
| Diluted EPS | 0.5 |
Balance Sheet
| Line Item | 2025 Q4 |
|---|---|
| Total assets | 39.72M |
| Total liabilities | 17.92M |
| Total equity | 21.8M |
| Cash & equivalents | 1.46M |
| Current assets | 32.15M |
| Current liabilities | 4.94M |
| Accounts payable | 3.74M |
| Receivables | 5.49M |
| Inventories | 7.13M |
| Long-term debt | 12.99M |
Cash Flow
| Line Item | 2025 Q4 |
|---|---|
| Operating cash flow | -4.32M |
| Investing cash flow | -15M |
| Financing cash flow | 17.79M |
| Change in cash | -1.56M |
| Net income | 12.29M |
| Kind | Filing | Date | Link |
|---|---|---|---|
| edgar index | 20-F — AsiaStrategy | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | 3 — AsiaStrategy | View Filing | |
| edgar index | 3 — AsiaStrategy | View Filing | |
| edgar index | 3 — AsiaStrategy | View Filing | |
| edgar index | 3 — AsiaStrategy | View Filing | |
| edgar index | 3 — AsiaStrategy | View Filing | |
| edgar index | 3 — AsiaStrategy | View Filing | |
| edgar index | 3 — AsiaStrategy | View Filing | |
| form 3 | Form 3 — Fang Jason Kin Hoi | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | SCHEDULE 13D/A — AsiaStrategy | View Filing | |
| edgar index | SCHEDULE 13D/A — AsiaStrategy | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | SCHEDULE 13G/A — AsiaStrategy | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | SCHEDULE 13D — AsiaStrategy | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | 6-K/A — AsiaStrategy | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | D — AsiaStrategy | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — AsiaStrategy | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | SCHEDULE 13G — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 20-F — Top Win International Ltd | View Filing | |
| edgar index | NT 20-F — Top Win International Ltd | View Filing | |
| edgar index | 6-K — Top Win International Ltd | View Filing | |
| edgar index | 424B4 — Top Win International Ltd | View Filing | |
| edgar index | 424B4 — Top Win International Ltd | View Filing | |
| edgar index | CERT — Top Win International Ltd | View Filing | |
| edgar index | 8-A12B — Top Win International Ltd | View Filing | |
| edgar index | EFFECT — Top Win International Ltd | View Filing | |
| edgar index | CORRESP — Top Win International Ltd | View Filing | |
| edgar index | CORRESP — Top Win International Ltd | View Filing | |
| edgar index | F-1/A — Top Win International Ltd | View Filing | |
| edgar index | FWP — Top Win International Ltd | View Filing | |
| edgar index | F-1/A — Top Win International Ltd | View Filing | |
| edgar index | CORRESP — Top Win International Ltd | View Filing | |
| edgar index | UPLOAD — Top Win International Ltd | View Filing | |
| edgar index | F-1/A — Top Win International Ltd | View Filing | |
| edgar index | CORRESP — Top Win International Ltd | View Filing | |
| edgar index | UPLOAD — Top Win International Ltd | View Filing | |
| edgar index | F-1 — Top Win International Ltd | View Filing | |
| edgar index | CORRESP — Top Win International Ltd | View Filing | |
| edgar index | UPLOAD — Top Win International Ltd | View Filing | |
| edgar index | DRS/A — Top Win International Ltd | View Filing | |
| edgar index | DRSLTR — Top Win International Ltd | View Filing | |
| edgar index | UPLOAD — Top Win International Ltd | View Filing | |
| edgar index | DRS — Top Win International Ltd | View Filing |
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