The company's financial foundation is weakening, with the current ratio falling to 0.99 and retained earnings declining from $2.3 million to $1.6 million.
| Total Current Assets | 2.86M | 4.76M | 40.75M | 6.61M | 2.86M | 4.96M | 1M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 1.3M | 0 | 78.46K | 0 |
| Total Non-Current Assets | 2.23M | 12.24K | 824.78K | 3.62M | 2.23M | 916.27K | 790.25K |
| Property, Plant & Equipment | 772.98K | 3.94K | 761.45K | 597.81K | 772.98K | 896.21K | 790.25K |
| Fixed Asset Turnover | 0.00x | 283.53x | 4.93x | 9.11x | 4.04x | 7.02x | 1.69x |
| Goodwill | 0 | 0 | 0 | 2.97M | 0 | 0 | 0 |
| Intangible Assets | 30.54K | 8.29K | 63.33K | 38.62K | 30.54K | 20.06K | 0 |
| Long-Term Investments | 173 | 0 | 0 | 0 | 173 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - |
| Total Assets | 5.09M | 4.77M | 41.58M | 10.24M | 5.09M | 5.88M | 1.79M |
| Asset Turnover | 0.00x | 0.23x | 0.09x | 0.53x | 0.61x | 1.07x | 0.74x |
| Asset Growth % | -13.45% | -88.53% | 306.1% | 101.22% | -13.45% | 227.51% | - |
| Total Current Liabilities | 2.89M | 428.28K | 5.59M | 2.67M | 2.89M | 2.59M | 805.37K |
| Accounts Payable | 264.01K | 810.71K | 582.14K | 528.1K | 264.01K | 838.07K | 273.87K |
| Days Payables Outstanding | - | - | - | - | - | - | - |
| Short-Term Debt | 23.81K | 0 | 2.03M | 27.09K | 23.81K | 20.43K | 15.1K |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - |
| Other Current Liabilities | -23.81K | -1.31M | 0 | 31.21K | -23.81K | -20.43K | -15.1K |
| Current Ratio | 0.99x | 11.11x | 7.29x | 2.48x | 0.99x | 1.92x | 1.25x |
| Quick Ratio | 0.99x | 11.11x | 7.29x | 2.48x | 0.99x | 1.92x | 1.25x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 373.07K | 0 | 282.45K | 161.89K | 373.07K | 494.43K | 540.37K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - |
| Total Liabilities | 3.27M | 428.28K | 5.88M | 2.83M | 3.27M | 3.08M | 1.35M |
| Total Debt | 562.38K | 0 | 2.59M | 381.14K | 562.38K | 645.05K | 654.21K |
| Net Debt | -2.09M | -1.87M | -222.02K | -4.21M | -2.09M | -3.17M | 482.88K |
| Debt / Equity | 0.31x | - | 0.07x | 0.05x | 0.31x | 0.23x | 1.46x |
| Debt / EBITDA | 0.96x | - | - | - | - | 0.21x | 1.68x |
| Net Debt / EBITDA | -3.57x | - | - | - | - | -1.03x | 1.24x |
| Interest Coverage | - | - | - | - | - | - | - |
| Total Equity | 1.82M | 4.34M | 35.7M | 7.4M | 1.82M | 2.8M | 449.25K |
| Equity Growth % | -34.86% | -87.84% | 382.14% | 306.42% | -34.86% | 522.58% | - |
| Book Value per Share | 3.09 | 4.86 | 60.51 | 12.55 | 3.09 | 4.74 | 0.76 |
| Total Shareholders' Equity | 1.82M | 4.34M | 35.7M | 7.4M | 1.82M | 2.8M | 449.25K |
| Common Stock | 1.2K | 21.08K | 18.3K | 1.48K | 1.2K | 1.2K | 10 |
| Retained Earnings | 1.56M | -4.81M | -9.61M | -928.31K | 1.56M | 2.34M | 284.64K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 143.7K | 5.84K | 8.1K | 56.75K | 143.7K | 347.18K | 49.88K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity depletion risk
According to recent balance sheet filings, Top KingWin Ltd saw total assets contract from $5.9 million to $5.1 million, a decline that reflects the company's inability to maintain its capital base amidst a broader, systemic failure to generate sustainable revenue within its core SME consulting segment.
The contraction in total assets, coupled with a simultaneous reduction in equity from $2.8 million to $1.8 million, suggests that the firm is actively consuming its net worth to fund ongoing operating losses. This trajectory indicates a business model that is currently unable to stabilize its financial position, warranting extreme caution regarding long-term viability.
As reported in financial statements, the company's current ratio plummeted from 1.92 to 0.99, signaling that WAI's liquid assets are no longer sufficient to cover its short-term obligations, a development that highlights a precarious liquidity position as cash reserves dwindle from $3.8 million to $2.7 million.
The drop in the current ratio below the critical threshold of 1.0 suggests that the company may face imminent difficulty in meeting its immediate financial commitments. Investors should monitor the cash burn rate closely, as the current liquidity buffer appears insufficient to support the firm's existing cost structure for an extended period.
Based on reported figures, retained earnings for Top KingWin Ltd fell from $2.3 million to $1.6 million, illustrating a significant depletion of shareholder value that appears directly linked to the company's inability to achieve profitability in its high-friction, SME-focused advisory and training service model.
The erosion of retained earnings suggests that the company is failing to generate internal capital, forcing a reliance on existing equity to absorb persistent operating deficits. This trend implies that the firm's capital allocation strategy has been ineffective, leaving shareholders exposed to the risks of potential future dilution or capital restructuring.
Data from recent filings indicates that while debt levels remain relatively low at $562.4K, the company's reliance on a shrinking asset base, including limited PPE, suggests that the firm lacks the tangible collateral necessary to secure traditional financing during this period of severe operational distress.
The low debt-to-equity ratio might appear conservative at first glance, but it likely reflects a lack of access to credit markets rather than a strategic choice to avoid leverage. The combination of minimal tangible assets and a collapsing revenue base makes the company's balance sheet appear significantly more fragile than the headline debt figures might otherwise imply.
Quick answers to the most common questions about buying WAI stock.
As of 2025, Top KingWin Ltd (WAI) had total assets of $4.8M including $4.8M in current assets.
Top KingWin Ltd (WAI) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Top KingWin Ltd (WAI) has total shareholders' equity (book value) of $4.3M ($4.86 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Top KingWin Ltd (WAI) reported a current ratio of 11.11x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.