Company research
AsiaStrategy
CIK 2033515Updated Oct 7, 2026
SecuritySORA · NASDAQ · equity
Historical securities (1)
SORA · NASDAQ · equity · closed Oct 23, 2026Name history
Top Win International Ltd · through Aug 22, 2025
SORA price & chart
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NASDAQ:SORA on TradingView ↗About the company
Top Win is a holding company that does not have any material operations of its own, with its operations conducted in Hong Kong through its Operating Subsidiary, using Hong Kong dollars.
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Recent filings
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Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | Q2 2025 | Q2 2024 | Q2 2023 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|
| ASSETS | ||||||
| AssetsUSD | 14,248,619Source | — | — | 39,723,888Source | 6,627,728Source | 5,568,298Source |
| Property, Plant and Equipment, NetUSD | 5,154Source | — | — | 4,273Source | 1,025Source | 2,228Source |
| Current assets: | ||||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 5,591,343Source | 1,660,198Source | 309,665Source | 1,464,381Source | — | — |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 17,695Source | — | — | 42,945Source | — | 142,460Source |
| Inventory, NetUSD | 3,323,028Source | — | — | 7,126,014Source | 2,171,252Source | 1,997,526Source |
| Assets, CurrentUSD | 13,344,192Source | — | — | 32,147,575Source | 5,827,412Source | 4,598,385Source |
| Prepaid Expense and Other Assets, CurrentUSD | 952,448Source | — | — | 172,380Source | 625,477Source | 539,819Source |
| Operating Lease, Right-of-Use AssetUSD | — | — | — | 828,697Source | — | — |
| LIABILITIES AND EQUITY | ||||||
| LiabilitiesUSD | 5,318,336Source | — | — | 17,923,626Source | 5,254,449Source | 6,159,810Source |
| Stockholders’ equity: | ||||||
| Common Stock, Value, IssuedUSD | 12,432Source | — | — | 12,432Source | 11,100Source | 10,000Source |
| Retained Earnings (Accumulated Deficit)USD | -1,201,527Source | — | — | 11,655,269Source | -638,380Source | -596,161Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -23,266Source | — | — | -10,083Source | 377Source | 3,367Source |
| Stockholders' Equity Attributable to ParentUSD | 8,930,283Source | -810,133Source | -514,455Source | 21,800,262Source | 1,373,279Source | -591,512Source |
| Additional Paid in Capital, Common StockUSD | 10,142,644Source | — | — | 10,142,644Source | 2,000,182Source | 1,282Source |
| Liabilities and EquityUSD | 14,248,619Source | — | — | 39,723,888Source | 6,627,728Source | 5,568,298Source |
| Current liabilities: | ||||||
| Liabilities, CurrentUSD | 2,281,910Source | — | — | 4,936,691Source | 2,028,550Source | 2,747,923Source |
| Accounts Payable, CurrentUSD | 62,037Source | — | — | 3,481,090Source | 61,791Source | 277,500Source |
| Additional Financial Items | ||||||
| Long-term Debt, Current MaturitiesUSD | 2,159,198Source | — | — | 1,173,306Source | 1,952,104Source | 2,360,402Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 3,036,426Source | — | — | 2,986,935Source | 3,225,899Source | 3,411,887Source |
| Long-term Debt | —Source | — | — | — | — | — |
cash flow · annual statements
| Line item | Q2 2025 | Q2 2024 | Q2 2023 | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|---|---|---|
| Cash flows from operating activities: | ||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||
| Changes in operating assets and liabilities: | ||||||
| Increase (Decrease) in Accounts ReceivableUSD | — | — | — | 42,945Source | -148,038Source | -172,065Source |
| Increase (Decrease) in InventoriesUSD | — | — | — | 4,954,762Source | 161,881Source | -1,153,028Source |
| Increase (Decrease) in Accounts PayableUSD | — | — | — | 3,419,299Source | -216,270Source | 33,919Source |
| Deferred Income Tax Expense (Benefit)USD | — | — | — | 159,132Source | -8,615Source | -3,074Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | — | — | — | -4,322,067Source | -462,995Source | 1,359,780Source |
| Cash flows from investing activities: | ||||||
| Net Cash Provided by (Used in) Investing ActivitiesUSD | — | — | — | -14,997,998Source | — | — |
| Payments to Acquire Property, Plant, and EquipmentUSD | — | — | — | 4,798Source | — | — |
| Cash flows from financing activities: | ||||||
| Net Cash Provided by (Used in) Financing ActivitiesUSD | — | — | — | 17,785,476Source | 1,966,312Source | -1,045,672Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | — | — | — | -1,556,302Source | 1,522,789Source | 313,419Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 5,970,428Source | 2,038,221Source | 686,023Source | 1,464,381Source | 3,020,683Source | 1,497,894Source |
| Supplemental disclosure of cash flow information: | ||||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | — | — | — | 231,259Source | 283,024Source | 336,817Source |
| Income Taxes Paid, NetUSD | — | — | — | 38,119Source | 38,806Source | -49,300Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | — | — | — | -21,713Source | 19,472Source | -689Source |
| Additional Financial Items | ||||||
| Deferred Other Tax Expense (Benefit)USD | — | — | — | -127,423Source | — | — |
| DepreciationUSD | — | — | — | 1,552Source | 1,210Source | 1,712Source |
| General and Administrative ExpenseUSD | — | — | — | 1,808,684Source | 1,129,609Source | 681,891Source |
| Income Tax Expense (Benefit)USD | — | — | — | 159,132Source | -8,615Source | 16,123Source |
| InterestExpenseNonoperatingUSD | — | — | — | 296,191Source | 283,024Source | 336,817Source |
| Inventory Write-downUSD | — | — | — | 31,094Source | 26,611Source | 21,243Source |
| Investment Income, InterestUSD | — | — | — | 120,483Source | 1,702Source | 488Source |
| Marketable Securities, Unrealized Gain (Loss)USD | — | — | — | 510,537Source | — | — |
| Net Income (Loss) Attributable to ParentUSD | — | — | — | 12,293,649Source | -42,219Source | 196,727Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | — | — | — | 12,293,649Source | — | — |
| Nonoperating Income (Expense)USD | — | — | — | 14,028,842Source | -279,241Source | -313,910Source |
| Operating ExpensesUSD | — | — | — | 1,957,717Source | 1,188,373Source | 845,470Source |
| Operating Lease, ExpenseUSD | — | — | — | 96,208Source | — | — |
| Other Nonoperating Income (Expense)USD | — | — | — | -142,560Source | — | — |
| Proceeds from Issuance of Common StockUSD | — | — | — | — | 2,000,000Source | — |
| Provision for Loan, Lease, and Other LossesUSD | — | — | — | 90,705Source | — | — |
| Unrealized Gain (Loss) on InvestmentsUSD | — | — | — | 15,143,639Source | — | — |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 |
|---|---|---|---|
| Total RevenueUSD | 10,985,176Source | 17,619,363Source | 18,814,420Source |
| Cost of Goods and Services Sold | —Source | —Source | —Source |
| Operating Income (Loss)USD | -1,576,061Source | 228,407Source | 526,760Source |
| Other Nonoperating Income (Expense)USD | -142,560Source | — | — |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 12,452,781Source | -50,834Source | 212,850Source |
| Income Tax Expense (Benefit)USD | 159,132Source | -8,615Source | 16,123Source |
| Net Income (Loss) Attributable to ParentUSD | 12,293,649Source | -42,219Source | 196,727Source |
| Earnings Per Share, BasicUSD per share | 0.51Source | -0Source | 0.01Source |
| Earnings Per Share, DilutedUSD per share | 0.5Source | -0Source | 0.01Source |
| Weighted Average Number of Shares Outstanding, Basicshares | 24,192,526Source | 20,643,169Source | 20,000,000Source |
| Weighted Average Number of Shares Outstanding, Dilutedshares | 24,664,893Source | 20,643,169Source | 20,000,000Source |
| Interest Expense (non-operating)USD | 296,191Source | 283,024Source | 336,817Source |
| Additional Financial Items | |||
| Current Income Tax Expense (Benefit)USD | — | — | 19,197Source |
| General and Administrative ExpenseUSD | 1,808,684Source | 1,129,609Source | 681,891Source |
| Gross ProfitUSD | 381,656Source | 1,416,780Source | 1,372,230Source |
| Income (Loss) Attributable to Parent, before TaxUSD | 2,109,782Source | — | — |
| Interest Expense, DebtUSD | 64,932Source | — | — |
| Investment Income, InterestUSD | 120,483Source | 1,702Source | 488Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 12,293,649Source | — | — |
| Nonoperating Income (Expense)USD | 14,028,842Source | -279,241Source | -313,910Source |
| Operating ExpensesUSD | 1,957,717Source | 1,188,373Source | 845,470Source |
| Operating Lease, ExpenseUSD | 96,208Source | — | — |
| Other ExpensesUSD | 477,400Source | 270,626Source | 330,033Source |
| Selling and Marketing ExpenseUSD | 149,033Source | 58,764Source | 163,579Source |
Offerings
Registration 333-283448
- Offering price
- market-price
- Ticker
- TOPW
Filing attachments
ea030768301ex99-1.htm · 6-K · 2026-10-06
Exhibit 99.1 AsiaStrategy TABLE OF CONTENTS Page Unaudited Condensed Consolidated Financial Statements Unaudited Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 2025 F-2 Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for t…
Read attachment ↗ea030768301ex99-2.htm · 6-K · 2026-10-06
Exhibit 99.2 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited condensed consolidated financial statements and the related notes included elsewhere in this Form 6-K. For additional information relating to our management’s discussion and analysis of the financial condition and results of operations, please see our Annual…
Read attachment ↗ea030593901ex99-1.htm · 6-K · 2026-10-01
Exhibit 99.1 AsiaStrategy Signs Memorandum of Understanding with Plume Network to Advance Real-World Asset Tokenisation Across Asia Non-binding memorandum contemplates a joint venture pairing Plume’s tokenisation infrastructure with AsiaStrategy’s and Sora Ventures’ distribution across Asia, positioning the Company for what it believes will be a structural shift in how financial assets are issued, held, and traded Hong Kong, Oct. 01, 2026 (GLOBE NEWSWIRE) - AsiaStrategy (Nasdaq: SORA) today …
Read attachment ↗ea030480001ex99-1.htm · 6-K · 2026-09-08
Exhibit 99.1 AsiaStrategy Expands Bitcoin-Backed Pledging Business with New Institutional Credit Facility Transaction with an institutional counterparty in Asia adds recurring revenue from the Company’s pledging business alongside its Bitcoin treasury Hong Kong, Sept. 08, 2026 (GLOBE NEWSWIRE) -- AsiaStrategy (Nasdaq: SORA) today announced that it has entered into a Bitcoin-collateralised credit facility with a leading institutional counterparty in Asia. AsiaStrategy acts as lender under the …
Read attachment ↗ea030235301ex99-1.htm · 6-K · 2026-08-17
Exhibit 99.1 SHARE PURCHASE AGREEMENT (Asia Empire Development Limited) This Share Purchase Agreement (this “ Agreement ”), dated as of August 15, 2026 (“ Effective Date ”), is entered into between AsiaStrategy, a Cayman Islands exempted company and formerly known as “Top Win International Limited” (Nasdaq: SORA) (the “ Seller ”), and Asia Empire Development Limited, a British Virgin Islands (“ BVI ”) business company (the “ Buyer ”). RECITALS WHEREAS, Seller currently owns 100.0% of the is…
Read attachment ↗ea030235301ex99-2.htm · 6-K · 2026-08-17
Exhibit 99.2 SHARE PURCHASE AGREEMENT (Sora Valiant Limited) This Share Purchase Agreement (this “Agreement”), dated as of August 15, 2026 (“Effective Date”), is entered into between AsiaStrategy, a Cayman Islands exempted company and formerly known as “Top Win International Limited” (Nasdaq: SORA) (the “Seller”), and Sora Valiant Limited, a British Virgin Islands (“BVI”) business company (the “Buyer”). RECITALS WHEREAS, Seller currently owns 100.0% of the issued and outstanding ordinary sh…
Read attachment ↗