WAI
WAI
Top KingWin LtdIncome Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2022 | $320.6K ▼ | $896.62K ▼ | $-663.7K ▼ | -207.02% ▼ | $-0.16 ▼ | $-851.33K ▼ |
| Q3-2022 | $1.08M ▼ | $1.14M ▲ | $-495.33K ▼ | -46.08% ▼ | $-0.12 ▼ | $-358.49K ▼ |
| Q4-2021 | $3M | $981.61K | $1.1M | 36.64% | $0.29 | $1.44M |
What's going well?
The company has no debt burden and is still spending on sales and marketing, which could help if revenue rebounds. No major one-time charges distort the results.
What's concerning?
Revenue fell off a cliff, margins collapsed, and losses are growing fast. Overhead is far too high for current sales, and there's no sign of a turnaround yet.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $13.09M ▲ | $33.32M ▼ | $2.99M ▼ | $30.33M ▼ |
| Q2-2025 | $2.22M ▼ | $42.28M ▲ | $5.4M ▼ | $36.88M ▲ |
| Q4-2024 | $2.81M ▼ | $41.58M ▲ | $5.88M ▲ | $35.7M ▲ |
| Q2-2024 | $3.1M ▼ | $7.65M ▼ | $2.2M ▼ | $5.44M ▼ |
| Q4-2023 | $4.59M | $10.24M | $2.83M | $7.4M |
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2022 | $-663.7K ▼ | $-171.28K ▼ | $5.63K ▲ | $34.99K ▼ | $99.38K ▼ | $-16.74K ▼ |
| Q4-2021 | $1.1M | $1.55M | $-92.12K | $52.03K | $1.55M | $1.46M |
What's strong about this company's cash flow?
The company has a large cash cushion of $2.65 million and almost no capital spending or debt. Even with the recent cash burn, it can operate for years without raising money.
What are the cash flow concerns?
Operating cash flow and free cash flow both turned negative after a very strong prior year. The improvement in cash balance this quarter is not from business operations, but from other sources like currency effects.
5-Year Trend Analysis
A comprehensive look at Top KingWin Ltd's financial evolution and strategic trajectory over the past five years.
WAI’s key strengths include a very strong liquidity position with no debt, giving it time to execute its strategy; a focused niche targeting Chinese SME entrepreneurs and executives; an existing client base from its training and consulting business; and early traction in AI and robotics through concrete products and a meaningful sales contract. The balance sheet support and clear strategic direction provide a platform for potential transformation.
Major risks center on the company’s severe operating and net losses, ongoing cash burn, and large negative retained earnings, all of which signal that the current economics are unsustainable without improvement. The AI and robotics pivot is high‑risk, as WAI competes against far larger and more experienced players while lacking a long history of technological success. Regulatory and listing‑compliance uncertainties in its home market, along with dependence on external funding, further elevate overall risk.
The outlook is highly dependent on execution of the AI and robotics strategy. If WAI can scale revenue from its new products, leverage its SME relationships, and bring operating costs more in line with income, its strong cash position could fund a credible turnaround and reposition it as a niche tech player. If not, sustained losses and reliance on new capital could weigh heavily on its future flexibility. At this stage, the company appears to be at an early and uncertain but potentially transformative inflection point.
About Top KingWin Ltd
https://www.tcjh.comTop KingWin Ltd provides corporate business training, corporate consulting, and advisory and transaction services in the People's Republic of China. It serves entrepreneurs and executives in small and medium enterprises. The company was founded in 2018 and is headquartered in Guangzhou, China. Top KingWin Ltd operates as a subsidiary of Xu Ruilin Capital CO., Ltd.
Income Statement
| Period | Revenue | Operating Expense | Net Income | Net Profit Margin | Earnings Per Share | EBITDA |
|---|---|---|---|---|---|---|
| Q4-2022 | $320.6K ▼ | $896.62K ▼ | $-663.7K ▼ | -207.02% ▼ | $-0.16 ▼ | $-851.33K ▼ |
| Q3-2022 | $1.08M ▼ | $1.14M ▲ | $-495.33K ▼ | -46.08% ▼ | $-0.12 ▼ | $-358.49K ▼ |
| Q4-2021 | $3M | $981.61K | $1.1M | 36.64% | $0.29 | $1.44M |
What's going well?
The company has no debt burden and is still spending on sales and marketing, which could help if revenue rebounds. No major one-time charges distort the results.
What's concerning?
Revenue fell off a cliff, margins collapsed, and losses are growing fast. Overhead is far too high for current sales, and there's no sign of a turnaround yet.
Balance Statement
| Period | Cash & Short-term | Total Assets | Total Liabilities | Total Equity |
|---|---|---|---|---|
| Q4-2025 | $13.09M ▲ | $33.32M ▼ | $2.99M ▼ | $30.33M ▼ |
| Q2-2025 | $2.22M ▼ | $42.28M ▲ | $5.4M ▼ | $36.88M ▲ |
| Q4-2024 | $2.81M ▼ | $41.58M ▲ | $5.88M ▲ | $35.7M ▲ |
| Q2-2024 | $3.1M ▼ | $7.65M ▼ | $2.2M ▼ | $5.44M ▼ |
| Q4-2023 | $4.59M | $10.24M | $2.83M | $7.4M |
Cash Flow Statement
| Period | Net Income | Cash From Operations | Cash From Investing | Cash From Financing | Net Change | Free Cash Flow |
|---|---|---|---|---|---|---|
| Q4-2022 | $-663.7K ▼ | $-171.28K ▼ | $5.63K ▲ | $34.99K ▼ | $99.38K ▼ | $-16.74K ▼ |
| Q4-2021 | $1.1M | $1.55M | $-92.12K | $52.03K | $1.55M | $1.46M |
What's strong about this company's cash flow?
The company has a large cash cushion of $2.65 million and almost no capital spending or debt. Even with the recent cash burn, it can operate for years without raising money.
What are the cash flow concerns?
Operating cash flow and free cash flow both turned negative after a very strong prior year. The improvement in cash balance this quarter is not from business operations, but from other sources like currency effects.
5-Year Trend Analysis
A comprehensive look at Top KingWin Ltd's financial evolution and strategic trajectory over the past five years.
WAI’s key strengths include a very strong liquidity position with no debt, giving it time to execute its strategy; a focused niche targeting Chinese SME entrepreneurs and executives; an existing client base from its training and consulting business; and early traction in AI and robotics through concrete products and a meaningful sales contract. The balance sheet support and clear strategic direction provide a platform for potential transformation.
Major risks center on the company’s severe operating and net losses, ongoing cash burn, and large negative retained earnings, all of which signal that the current economics are unsustainable without improvement. The AI and robotics pivot is high‑risk, as WAI competes against far larger and more experienced players while lacking a long history of technological success. Regulatory and listing‑compliance uncertainties in its home market, along with dependence on external funding, further elevate overall risk.
The outlook is highly dependent on execution of the AI and robotics strategy. If WAI can scale revenue from its new products, leverage its SME relationships, and bring operating costs more in line with income, its strong cash position could fund a credible turnaround and reposition it as a niche tech player. If not, sustained losses and reliance on new capital could weigh heavily on its future flexibility. At this stage, the company appears to be at an early and uncertain but potentially transformative inflection point.
CEO
Ruilin Xu
Compensation Summary
(Year )
Split Record
| Date | Type | Ratio |
|---|---|---|
| 2025-09-08 | Reverse | 1:25 |
| 2025-05-05 | Reverse | 1:25 |
Ratings Snapshot
Rating : C-