Alset Inc.

Listed Company

AEICIK 0001750106NasdaqNon-AcceleratedSmaller ReportingReal EstateTexasFY ends Dec 31

Period

FY 2025

Revenue

$4.47M

Net Income

$-47.41M

Total Assets

$136.59M

Equity

$121.08M

Shares Out

38.90M

Op. Cash Flow

$-5.93M

Business

Alset Inc. is a diversified holding company that develops residential communities and manages businesses across real estate, technology, biohealth and consumer sectors. It offers property development and single-family rental homes, digital transformation services (e-commerce, collaboration, social networking, AI and metaverse solutions), biohealth and consumer health products, and select food & beverage and café operations. The company reports four operating segments: real estate, digital transformation technology, biohealth and other business activities. It operates through subsidiaries across the United States, Singapore, Hong Kong, Australia, South Korea and China using direct sales, e-commerce, retail, franchise, property management and B2B distribution channels.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total Revenue	4	21	22	4	20
Cost of Sales	3	13	15	4	11
General and Administrative	15	11	10	8	23
Impairments and Credit Loss Expense	1	2	855,852	—	—
Total Operating Expenses	20	25	25	12	35
Loss from Operations	−15	−4	−3	−7	−15
Interest Expense	−54,549	−112,075	−3,979	—	—
Gain on Disposal of a Subsidiary	362,056	—	—	—	—
Foreign Exchange Transaction (Loss) Gain	−2	3	−697,286	−547,845	1
Loss on Equity Method Investment	−2	−3	−24	−685,533	−51,999
Impairment of Equity Method Investment	−30	—	—	—	—
Other Income, Net	3	224,060	2	1	93,823
Total Other (Expense) Income, Net	−34	102,046	−58	−39	−103
Net Loss Before Income Taxes	−49	−4	−61	−46	−118
Income Tax Expense	−432,086	−150,786	−92,350	—	−534,014
Net Loss	−49	−4	−61	−46	−119
Net Loss Attributable to Non-Controlling Interest	−2	−199,932	−2	−6	−16
Net Loss Attributable to Common Stockholders	−47	−4	−59	−40	−119
Foreign Currency Translation Adjustment	2	−4	−301,579	508,277	—
Total Comprehensive Loss	−48	−9	−62	−46	−106
Less Comprehensive Loss Attributable to Non-controlling Interests	−2	−839,197	−2	—	—
Total Comprehensive Loss Attributable to Common Shareholders	−46	−8	−59	−40	—
Net Loss Per Share - Basic	−2.22	−0.43	−6.52	−6.22	−73.85
Net Loss Per Share - Diluted	−2.22	−0.43	−6.52	−6.22	—
Weighted Average Common Shares Outstanding - Basic	21	9	9	7	1
Weighted Average Common Shares Outstanding - Diluted	21	9	9	7	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and Cash Equivalents	25	27	27	18	—
Restricted Cash	107,982	939,939	967,566	694,520	5
Account Receivables, Net	57,002	75,646	77,517	46,522	39,622
Other Receivables, Net	2	6	3	446,798	334,788
Note Receivables - Related Parties, Net	1	2	2	—	—
Prepaid Expense	182,276	207,483	253,689	188,070	1
Inventory	6,215	4,913	5,561	35,020	47,290
Investment in Securities at Cost	—	17,462	—	—	—
Investment in Equity Method Securities	—	4	8	53	—
Deposits	75,108	210,495	133,063	—	275,204
Total Current Assets	45	60	55	95	143
Real Estate - Rental Properties, Net	30	31	32	31	25
Property and Equipment, Net	477,912	594,623	—	—	—
Operating Lease Right-Of-Use Assets, Net	494,957	1	1	2	659,620
Deposits	212,119	272,281	337,606	536,947	39,653
Investment in Securities at Cost	18,227	—	—	—	—
Investment in Equity Method Securities	55	—	—	—	—
Other Receivables - Long Term, Net	—	4	—	—	—
Total Assets	137	97	126	153	184
Accounts Payable and Accrued Expenses	5	4	4	3	11
Deferred Revenue	—	—	—	—	—
Operating Lease Liabilities	578,916	531,885	673,049	45,556	283,989
Total Current Liabilities	6	5	8	3	14
Operating Lease Liabilities	332,035	993,284	826,214	2	383,354
Notes Payable	658,799	93,241	126,182	—	—
Total Liabilities	7	7	9	5	14
Commitments and Contingencies (Note 14)	—	—	—	—	—
Preferred Stock, $0.001 par value; 25,000,000 shares authorized, none issued and outstanding	—	—	—	—	—
Common Stock, $0.001 par value; 250,000,000 shares authorized; 39,401,786 and 9,235,119 shares issued on December 31, 2025 and 2024, respectively; 38,895,830 and 9,235,119 shares outstanding on December 31, 2025 and 2024, respectively	39,402	9,235	9,235	7,423	87,368
Additional Paid in Capital	421	334	332	323	296
Treasury Stock at Cost (505,956 and 0 shares on December 31, 2025 and 2024, respectively)	−1	—	—	—	—
Accumulated Deficit	−299	−252	−248	−189	−148
Accumulated Other Comprehensive Income (Loss)	168,802	−849,862	4	4	341,646
Total Alset Inc. Stockholders Equity	121	81	88	138	148
Non-controlling Interests	9	9	9	11	22
Total Stockholders Equity	130	90	97	149	170
Total Liabilities and Stockholders Equity	137	97	126	153	184

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	1	1	1	963,077	166,451
Non-Cash Lease Expenses	691,912	1	1	747,975	—
Bad Debt write off	18,522	—	—	—	—
Stock Based Compensation	2	—	—	—	134,192
Unrealized Loss (Gain) on Securities Investment	58,393	−297,353	−7	8	2
Unrealized Loss on Securities Investment - Related Party	2	1	10	—	—
Realized Loss (Gain) on Securities Investment	769,707	−461,247	—	—	—
Realized Loss on Securities Investment-Related Party	2	—	—	—	—
Real Estate	—	10	13	−8	5
Real Estate Reimbursement Receivable	8	−2	−7	—	—
Account Receivables	8,849	1,871	217,178	−221,869	849,413
Other Receivable - Related Parties	—	−330,733	−109,999	−91,925	—
Prepaid Expense	32,694	100,570	45,232	400,154	399,442
Deposits	215,042	−12,107	3,108	−295,585	−16,361
Trading Securities	−11	−2	−752,406	−8	−14
Inventory	412	336	32,149	13,164	34,991
Accounts Payable and Accrued Expenses	2	−260,146	314,309	−10	10
Deferred Revenue	—	−2,100	−18,714	−707,145	−2
Operating Lease Liabilities	−732,922	−1	−1	−638,006	−293,525
Net Cash (Used in) Provided by Operating Activities	−6	5	7	−32	−17
Purchase of Fixed Assets	−175,464	−102,749	−29,105	−599,650	−227,821
Purchase of Equity Interest of a Subsidiary	−40,000	−814,158	−756,078	−8	−19
Advance to Related Party	—	−550,000	—	—	—
Proceed from Sales of Investment in Securities at Fair Value - Related Party	4	—	—	—	—
Collection of Advance to Related Parties	—	467,107	—	—	—
Issuing Loan Receivable	—	−1	—	−377,864	−12
Issuing Loan Receivable - Related Party	−2	−2	−3	—	—
Collection of Loan Receivable - Related Party	607,281	151,096	—	—	—
Cash Withdrawn from Trust Account for Redemptions	—	21	—	—	—
Cash Withdrawn from Trust Account Available to the Company	—	243,897	—	—	—
Net Cash Provided by Investing Activities	2	17	−2	−15	−56
Proceeds from Common Stock Issuance	3	—	3	6	105
Buyback Treasury Stock	−1	—	—	—	—
Proceeds from Note Payable	72,211	130,048	—	—	—
Repayment to Notes Payable	−582,121	−446,260	−31,499	−279,152	−610,767
Repayment of Class A Common Stock	—	−21	—	—	—
Net Cash Provided by (Used in) Financing Activities	1	−21	3	6	103
Net (Decrease) Increase in Cash and Cash Equivalents and Restricted Cash	−3	1	9	−41	31
Effects of Foreign Exchange Rates on Cash and Cash Equivalents	−314,323	−910,837	830,064	−1	−2
Cash Paid for Interest	11,616	40,489	3,979	1,853	20,154
Cash Paid for Taxes	47,472	—	—	—	446,757
Initial Recognition of ROU / Lease Liability	132,044	637,171	911,308	2	256,928
Promissory Notes Received in Exchange for Sale of HWH Common Stock to Investors	—	16	—	—	—
Issuance of HWH Common Stock to EF Hutton for Deferred Underwriting Compensation	—	2	—	—	—
Conversion of Ketomei Note Payable to Common Stock	—	310,796	—	—	—
Gain from SHRG Warrants and Convertible Notes	87,131	287,812	—	—	—
Gain on Disposal of Hapi Travel	—	257,733	—	—	—
Acquisition of NEAPI for Issued Shares	83	—	—	—	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro