HWH International Inc. HWH
Company was originally incorporated in Delaware on October 20, 2021 under the name Alset Capital Acquisition Corp. The Company was formed
for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business
combination with one or more businesses (the "Business Combination"). The Company consummated the Business Combination on
January 9, 2024 and changed its name from "Alset Capital Acquisition Corp." to "HWH International Inc." The Company
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $866.9K | $1.3M | $1.2K | — | — |
| Cost of revenue | $407.2K | $651.7K | $334.8K | — | — |
| Gross profit | $459.7K | $601.9K | $495.7K | — | — |
| SG&A | $3.5M | $2.8M | $2.9M | $589.6K | — |
| Total operating expenses | $3.6M | $3.2M | $3.4M | $689.6K | — |
| Interest expense | $52.2K | $72.1K | — | — | — |
| Pre-tax income | -$2.6M | -$2.8M | -$661.3K | $300.5K | — |
| Income tax | $47.5K | — | $415.4K | $186.9K | — |
| Net income | -$2.6M | -$2.7M | -$1.1M | $113.5K | — |
| EPS, basic | -0.40 | -0.76 | — | — | — |
| EPS, diluted | -0.40 | -0.76 | — | — | — |
| Shares, diluted (wtd. avg.) | $6.6M | $3.6M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $2.1M | $4.3M | $1.2M | $1.2M | $50.0K |
| Short-term investments | — | $13.3K | — | — | — |
| Inventory | $1.1K | $1.6K | $2.0K | — | — |
| Total current assets | $3.0M | $5.5M | $1.3M | $1.2M | $135.0K |
| Property, plant and equipment | $19.2K | $33.6K | $129.2K | — | — |
| Goodwill | $116.6K | $0 | — | — | — |
| Total assets | $4.6M | $6.4M | $23.7M | $89.3M | $135.0K |
| Accounts payable | $305.0K | $483.4K | $167.4K | $376.5K | — |
| Total current liabilities | $1.3M | $3.3M | $6.0M | $376.5K | $115.0K |
| Total liabilities | — | — | $3.9M | $3.4M | $115.0K |
| Retained earnings | -$8.9M | -$6.3M | -$3.6M | -$2.0M | -$5.0K |
| Total equity | $2.6M | $2.8M | -$3.6M | -$1.4M | $20.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | -$1.8M | -$1.8M | -$2.6M | -$514.1K | — |
| Depreciation and amortisation | $19.5K | $48.2K | $58.0K | — | — |
| Stock-based compensation | $1.6M | — | — | — | — |
| Capital expenditure | $19.5K | $30.4K | $14.6K | — | — |
| Investing cash flow | -$1.2M | $20.5M | $68.4M | -$87.1M | — |
| Financing cash flow | $934.7K | -$15.6M | -$67.5M | $88.8M | — |
| Buybacks | — | $21.1M | $68.4M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001493152-26-012738.
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