AsiaStrategy

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What Do They Do?

Sells luxury watches from international brands to independent watch dealers, distributors and retail buyers.

How Do They Make Money?

Customers pay a fixed price for watches, usually in advance or upon delivery; some settle after delivery.

FY2025 revenue

Who Are Their Customers?

Customers are mainly distributors, independent watch dealers and retail sellers, with retail buyers also served through a Hong Kong showroom. The company sells directly to its business customers.

Customers above 10% of revenue, FY2025

of revenue from two customers (27%, 10%)

FY2023: 40% from three customers

Do Revenues Turn Into Profits?

Yes. Its net income in FY2025 was larger than its revenue, but spent more cash than it brought in: free cash flow was −$4.3M.

Operating income, FY2025

−14% of revenue

▼ Now a loss vs FY2024 ($228.4K, 1%)

Net income, FY2025

112% of revenue

▲ Now profitable vs FY2024 (−$42.2K, 0%)

Free cash flow, FY2025

−39% of revenue

How Are They Changing?

Shrinking. Revenue fell 23% in 3 years, from $14.2M in FY2022 to $11M in FY2025, about 8% a year.

Financial Snapshot

Last updated: 10/27/2026

Size

Revenue: N/A
Net Income: N/A

Growth FY2025

Revenue Growth
EPS Growth

Profitability

Gross Margin: N/A
Operating Margin: N/A
Net Income Margin: N/A

Cash flow

Free Cash Flow: N/A

Balance sheet Q4 FY2025

Cash
Debt to Equity

Valuation Today

Market Cap: $57.19M
P/E: N/A

Company Facts

Industry: Jewelry, Watches, Precious Stones & Metals
Incorporated
Headquarters

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