Moon Inc.
1723🇭🇰Equity
Moon Inc. (formerly HK Asia Holdings) is a Hong Kong-listed investment holding company that sells prepaid telecommunications products (SIM cards and top-up vouchers). Following its acquisition by UTXO Management and Sora Ventures in early 2025, the company adopted a Bitcoin treasury strategy and has been accumulating BTC through open market purchases funded by equity placements and convertible note proceeds.
BTC Holdings
42 BTC
180d
Stock PriceUpdated 23h ago
0.89 HKD▼ 7.29%
180d
Total financing
52.38M HKD
Insufficient history
mNAV
17.99x▼ 7.18%
180d
Leverage
70.5%
180d
BTC Risk
11.80%1.4x
Sats/Share
9
180d
Mkt capFD
434.99M HKD
SharesFD
488.75M
Fiat reserve
35.33M HKD
Total reserve
59.50M HKD
Dilution
2.2%
BTC mix
0%
Analytics
BTC Coverage
FinancialsUnverified
IFRSSemi-AnnualAs of 2025-09-30
Balance Sheet
Total AssetsHK$447.1M▲226.7%
Total LiabilitiesHK$19.4M▼38.5%
Stockholders' EquityHK$427.7M▲306.4%
Cash & EquivalentsHK$35.3M▼43.3%
Total DebtHK$7.7M▲119.9%
Digital Assets—
Income Statement
RevenueHK$106.1M▲7.7%
Operating IncomeHK$-5.7M▼2945.0%
Net IncomeHK$-196.2M▼28539.1%
Interest ExpenseHK$80K▼61.9%
Cash Flow
Operating Cash FlowHK$300K▼21.1%
Instruments
| Instrument | Term | Coupon | Principal | Outstanding | Conv. price | BTC Rating |
|---|---|---|---|---|---|---|
| 1723-GM25 | Oct '25 – Oct '28 | 0% | 52.38M HKD | 52.38M HKD | 5.00 HKD | 1.4x |
| Total | 52.38M HKD | |||||
Recent Changes
Tue, Dec 2, 2025
BTC Holdings
42.6→42-0.6 BTC(-1.4%)
BTC Holdings Tracker
Mon, Dec 1, 2025
BTC Holdings
35.6→42.6+7 BTC(+19.7%)
Total holdings post Dec 1 2025 purchase (35.60 prior + 7 further); supersedes 42 BTC tracker rounding for 2025-12-02
Discloseable Transaction — Further Purchase of Cryptocurrency (Bitcoin)