AsiaStrategy(SORA)Earnings, Financials & Key Ratios
SORA•NASDAQ
$2.78
$57M mkt cap·Price updated May 6, 2026
SectorConsumer CyclicalIndustryFootwear & AccessoriesSub-IndustryFashion and luxury accessories brands
AboutAsiaStrategy, 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 brands. It serves business-to-business (B2B) customers including distributors, independent watch dealers, and retail sellers. AsiaStrategy 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.Show more
- Revenue$18M-6.4%
- EBITDA$230K-56.6%
- Net Income-$42K-121.5%
- EPS (Diluted)-0.00-125.3%
- Gross Margin8.04%+10.2%
- EBITDA Margin1.3%-53.6%
- Operating Margin1.3%-53.7%
- Net Margin-0.24%-122.9%
- ROE-10.8%
- ROIC4.3%-54.7%
- Debt/Equity3.77
- Interest Coverage0.81-48.4%
SORA Key Insights
AsiaStrategy (SORA) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓High quality earnings: Operating CF exceeds net income
- ✓Share count reduced 17.0% through buybacks
- ✓Efficient asset utilization: 2.7x turnover
✗Weaknesses
- ✗High debt to equity ratio of 3.8x
- ✗Negative free cash flow
- ✗Thin 5Y average net margin of 0.4%
- ✗Trading more than 30% below 52-week high
- ✗Expensive at 41.8x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
SORA Price & Volume
AsiaStrategy (SORA) stock price & volume — 10-year historical chart
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SORA Growth Metrics
AsiaStrategy (SORA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
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EPS CAGR
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Return on Capital
10 Years10.62%
5 Years10.62%
3 Years10.62%
Last Year6.16%
SORA Peer Comparison
AsiaStrategy (SORA) competitors in Fashion and luxury accessories brands — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CAN | 355.58M | 0.55 | -1.23 | 96.69% | -39.68% | -48.08% | 0.13 | |
 CLPS | 25.89M | 0.93 | -3.56 | 15.17% | -1.27% | -6.06% | 0.59 | |
 HUYA | 493.27M | 3.28 | -106.48 | -13.09% | -2.51% | -2.41% | 0.01 | |
 IQ | 1.19B | 1.23 | 10.89 | -8.31% | -1.44% | -2.92% | 1.06 | |
 DOYU | 146.82M | 4.87 | -3.44 | -22.78% | -4.81% | -6.48% | 0.00 | |
 QFIN | 3.9B | 13.75 | 2.24 | 5.38% | 28.76% | 0.07 | ||
 LXEH | 1.39M | 1.19 | -0.39 | -35.45% | -179.26% | -83.46% | 0.90 | |
 ACMR | 3.67B | 55.38 | 40.42 | 15.24% | 10.44% | 6.11% | 0.16 |
Compare SORA vs Peers
AsiaStrategy (SORA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
SORA Income Statement
AsiaStrategy (SORA) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|
| Sales/Revenue | 14.23M | 18.81M | 17.62M |
| Revenue Growth % | - | 32.26% | -6.35% |
| Cost of Goods Sold | 12.96M | 17.44M | 16.2M |
| COGS % of Revenue | 91.12% | 92.71% | 91.96% |
| Gross Profit | 1.26M▲ 0% | 1.37M▲ 8.7% | 1.42M▲ 3.2% |
| Gross Margin % | 8.88% | 7.29% | 8.04% |
| Gross Profit Growth % | - | 8.68% | 3.25% |
| Operating Expenses | 1.07M | 845.47K | 1.19M |
| OpEx % of Revenue | 7.52% | 4.49% | 6.74% |
| Selling, General & Admin | 1.07M | 845.47K | 1.19M |
| SG&A % of Revenue | 7.52% | 4.49% | 6.74% |
| Research & Development | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 |
| Operating Income | 193.51K▲ 0% | 526.76K▲ 172.2% | 228.41K▼ 56.6% |
| Operating Margin % | 1.36% | 2.8% | 1.3% |
| Operating Income Growth % | - | 172.21% | -56.64% |
| EBITDA | 195.78K | 528.47K | 229.62K |
| EBITDA Margin % | 1.38% | 2.81% | 1.3% |
| EBITDA Growth % | - | 169.93% | -56.55% |
| D&A (Non-Cash Add-back) | 2.27K | 1.71K | 1.21K |
| EBIT | 246.6K | 549.67K | 232.19K |
| Net Interest Income | -170.21K | -336.33K | -281.32K |
| Interest Income | 322 | 488 | 1.7K |
| Interest Expense | 170.53K | 336.82K | 283.02K |
| Other Income/Expense | -117.45K | -313.91K | -279.24K |
| Pretax Income | 76.06K▲ 0% | 212.85K▲ 179.8% | -50.83K▼ 123.9% |
| Pretax Margin % | 0.53% | 1.13% | -0.29% |
| Income Tax | 4.07K | 16.12K | -8.62K |
| Effective Tax Rate % | 5.36% | 7.57% | 16.95% |
| Net Income | 71.99K▲ 0% | 196.73K▲ 173.3% | -42.22K▼ 121.5% |
| Net Margin % | 0.51% | 1.05% | -0.24% |
| Net Income Growth % | - | 173.27% | -121.46% |
| Net Income (Continuing) | 71.99K | 196.73K | -42.22K |
| Discontinued Operations | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
| EPS (Diluted) | 0.00▲ 0% | 0.01▲ 172.4% | -0.00▼ 125.3% |
| EPS Growth % | - | - | - |
| EPS (Basic) | 0.00 | 0.01 | -0.00 |
| Diluted Shares Outstanding | 24.86M | 24.86M | 20.64M |
| Basic Shares Outstanding | 24.86M | 24.86M | 20.64M |
| Dividend Payout Ratio | 620.87% | - | - |
SORA Balance Sheet
AsiaStrategy (SORA) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|
| Total Current Assets | 5.04M | 4.6M | 5.83M |
| Cash & Short-Term Investments | 806.63K | 1.12M | 2.64M |
| Cash Only | 806.63K | 1.12M | 2.64M |
| Short-Term Investments | 0 | 0 | 0 |
| Accounts Receivable | 363.29K | 563.14K | 28.89K |
| Days Sales Outstanding | 9.32 | 10.93 | 0.6 |
| Inventory | 3.16M | 2M | 2.17M |
| Days Inventory Outstanding | 88.9 | 41.8 | 48.91 |
| Other Current Assets | 378.56K | 378.48K | 380.98K |
| Total Non-Current Assets | 953.45K | 969.91K | 800.32K |
| Property, Plant & Equipment | 3.95K | 2.23K | 1.02K |
| Fixed Asset Turnover | 3602.22x | 8444.53x | 17189.62x |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 802.19K | 817.47K | 0 |
| Other Non-Current Assets | 0 | 0 | 639.59K |
| Total Assets | 5.99M▲ 0% | 5.57M▼ 7.1% | 6.63M▲ 19.0% |
| Asset Turnover | 2.37x | 3.38x | 2.66x |
| Asset Growth % | - | -7.08% | 19.03% |
| Total Current Liabilities | 3.2M | 2.75M | 2.03M |
| Accounts Payable | 243.8K | 277.5K | 61.79K |
| Days Payables Outstanding | 6.86 | 5.81 | 1.39 |
| Short-Term Debt | 2.28M | 2.36M | 1.95M |
| Deferred Revenue (Current) | 107.96K | 14.52K | 0 |
| Other Current Liabilities | 0 | 0 | 0 |
| Current Ratio | 1.57x | 1.67x | 2.87x |
| Quick Ratio | 0.59x | 0.95x | 1.80x |
| Cash Conversion Cycle | 91.35 | 46.92 | 48.12 |
| Total Non-Current Liabilities | 3.58M | 3.41M | 3.23M |
| Long-Term Debt | 3.58M | 3.41M | 3.23M |
| Capital Lease Obligations | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 |
| Total Liabilities | 6.78M | 6.16M | 5.25M |
| Total Debt | 5.86M | 5.77M | 5.18M |
| Net Debt | 5.05M | 4.65M | 2.54M |
| Debt / Equity | - | - | 3.77x |
| Debt / EBITDA | 29.91x | 10.92x | 22.55x |
| Net Debt / EBITDA | 25.79x | 8.80x | 11.05x |
| Interest Coverage | 1.13x | 1.56x | 0.81x |
| Total Equity | -789.65K▲ 0% | -591.51K▲ 25.1% | 1.37M▲ 332.2% |
| Equity Growth % | - | 25.09% | 332.16% |
| Book Value per Share | -0.03 | -0.02 | 0.07 |
| Total Shareholders' Equity | -789.65K | -591.51K | 1.37M |
| Common Stock | 10K | 10K | 11.1K |
| Retained Earnings | -792.89K | -596.16K | -638.38K |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 1.95K | 3.37K | 377 |
| Minority Interest | 0 | 0 | 0 |
SORA Cash Flow Statement
AsiaStrategy (SORA) cash flow — operating, investing & free cash flow history
| Line item | Dec'22 | Dec'23 | Dec'24 |
|---|---|---|---|
| Cash from Operations | -2.16M | 1.36M | -463K |
| Operating CF Margin % | -15.17% | 7.23% | -2.63% |
| Operating CF Growth % | - | 163% | -134.05% |
| Net Income | 71.99K | 196.73K | -42.22K |
| Depreciation & Amortization | 2.27K | 1.71K | 1.21K |
| Stock-Based Compensation | 0 | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 |
| Other Non-Cash Items | -319.43K | -10.71K | -264.85K |
| Working Capital Changes | -1.91M | 1.17M | -157.14K |
| Change in Receivables | -246.74K | 172.06K | 148.04K |
| Change in Inventory | -1.43M | 1.15M | -161.88K |
| Change in Payables | 0 | 0 | 0 |
| Cash from Investing | 0 | 0 | 0 |
| Capital Expenditures | 0 | 0 | 0 |
| CapEx % of Revenue | - | 0% | 0% |
| Acquisitions | 0 | 0 | 0 |
| Investments | - | - | - |
| Other Investing | 0 | 0 | 0 |
| Cash from Financing | 1.98M | -1.05M | 1.97M |
| Debt Issued (Net) | 1.91M | -76.81K | -623.55K |
| Equity Issued (Net) | 0 | 0 | 174.34K |
| Dividends Paid | -446.97K | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 |
| Other Financing | 523.85K | -968.86K | 2.42M |
| Net Change in Cash | -175.89K▲ 0% | 313.42K▲ 278.2% | 1.52M▲ 385.9% |
| Free Cash Flow | -2.16M▲ 0% | 1.36M▲ 163.0% | -463K▼ 134.0% |
| FCF Margin % | -15.17% | 7.23% | -2.63% |
| FCF Growth % | - | 163% | -134.05% |
| FCF per Share | -0.09 | 0.05 | -0.02 |
| FCF Conversion (FCF/Net Income) | -29.98x | 6.91x | 10.97x |
| Interest Paid | 170.53K | 336.82K | 283.02K |
| Taxes Paid | 112.44K | 0 | 38.81K |
SORA Key Ratios
AsiaStrategy (SORA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Return on Equity (ROE) | - | - | -10.8% |
| Return on Invested Capital (ROIC) | 3.41% | 9.5% | 4.3% |
| Gross Margin | 8.88% | 7.29% | 8.04% |
| Net Margin | 0.51% | 1.05% | -0.24% |
| Debt / Equity | - | - | 3.77x |
| Interest Coverage | 1.13x | 1.56x | 0.81x |
| FCF Conversion | -29.98x | 6.91x | 10.97x |
| Revenue Growth | - | 32.26% | -6.35% |
SORA Frequently Asked Questions
AsiaStrategy (SORA) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
AsiaStrategy (SORA) reported $17.6M in revenue for fiscal year 2024. This represents a 24% increase from $14.2M in 2022.
AsiaStrategy (SORA) saw revenue decline by 6.4% over the past year.
AsiaStrategy (SORA) reported a net loss of $0.0M for fiscal year 2024.
Dividend & Returns
AsiaStrategy (SORA) has a return on equity (ROE) of -10.8%. Negative ROE indicates the company is unprofitable.
AsiaStrategy (SORA) had negative free cash flow of $0.5M in fiscal year 2024, likely due to heavy capital investments.
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