HK Asia Holdings
Prepaid telecom products and digital asset treasury.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor investor | €0.0 | round | |
| N/A | €0.0 | round | |
* | N/A | $1.2m | Post IPO Equity |
| Total Funding | 000k | ||
| HKD | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % growth | - | 3 % | (32 %) | 35 % | 12 % | 23 % | (25 %) |
| EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % EBITDA margin | 18 % | 18 % | 13 % | 16 % | 5 % | 10 % | 5 % |
| Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| % profit margin | 8 % | 13 % | 8 % | 11 % | 2 % | 6 % | 1 % |
| EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Founded in 1995, HK Asia Holdings began its journey as a key player in Hong Kong's telecommunications sector, specializing in the wholesale and retail of pre-paid SIM cards and top-up vouchers. The company built a solid business catering to a diverse customer base, including a large number of Filipino and Indonesian residents, providing essential connectivity services. The company went public with its listing on the Hong Kong Stock Exchange on September 27, 2018. For years, the company operated steadily in this niche. However, in a dramatic shift in early 2025, the company underwent a complete transformation. This pivot began with a mandatory cash offer to acquire company shares, signaling a major change in ownership and strategy. Subsequently, the entire board and executive team were replaced. Enter John Riggins, appointed as the new CEO, who brought with him a deep conviction in cryptocurrency. Under this new leadership, the company, soon to be rebranded as Moon Inc., made history by becoming the first public company in Greater China to adopt a Bitcoin treasury strategy. This move involved an initial purchase of Bitcoin for its corporate treasury, a decision that caused its stock price to surge. The new strategy is not just about holding digital assets; it includes plans to integrate Bitcoin-related products and services into its existing retail network.