Company Analysis

Top KingWin Ltd (DPU)

Nasdaq: DPU · Services-Business Services, NEC · Guangzhou, CN · filing with the SEC since 2022
Grade4.6
◀ Past 6.4● Present 3.7▶ Future 4.3
2 est.

The grade of Top KingWin Ltd

Nine metrics read from its own filings, by tense
Headline grade
4.6/10
◀ Past6.425% of the headline
● Present3.735% of the headline
▶ Future4.340% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.4/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
5.3/10

Has it survived what it has been through?

1 warning event since 2022; the latest 2023-05-01.

weight 22% of this tense · 53rd percentile among 105 sector filers · read for itself

From the record

Top KingWin Ltd's filings since 2022 show 1 warning event: a late-report notice (Form NT 10-K or NT 10-Q, the latest 2023-05-01) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
4.3/10

What has it actually done, year after year?

+43.2% a year over 6 filed years; profitable in 2 of 6.

weight 45% of this tense · 43rd percentile among 99 sector filers · read for its customers

From the record

Top KingWin Ltd's 6 filed years say what it did: revenue went from $1 million in fiscal 2020 to $8 million in fiscal 2025, up 43.2% a year; it rose in 3 of 5 years; the deepest fall was 50% from fiscal 2021 to fiscal 2022; net income was positive in 2 of 6 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span43.2%top 10% of its family
  • the share of years revenue rosebottom 25% of its family
  • the share of filed years with a profitbottom 38% of its family
  • the deepest fall from a revenue peak50.4%bottom 17% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
9.9/10

How has it treated the people who own it?

SI estimate 9.9/10, confidence 35 of 100 (one part).

weight 33% of this tense · 99th percentile among 98 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Read from one part only, the share count over the years, which ranks in the top 1% of 98 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
one part: the share count over the years, the one part on file, ranked among 98 in its family.
Confidence
35 of 100
What would change it
A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Top KingWin Ltd's shareholder treatment is put at 9.9 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the top 1% of 98 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

3.7/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
3.0/10

Is it financially healthy right now?

ROE -79%: lost 79¢ per shareholder dollar. Leverage 9%: owes 9¢ per asset dollar.

weight 33% of this tense · 30th percentile among 98 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-12-31, Top KingWin Ltd lost about 79 cents for every dollar of shareholders' money, and gross profitability: its products earned about 2 cents per dollar of everything the company owns. Leverage: it owed about 9 cents per dollar of assets, and net share issuance: its share count grew 325.3% over the year (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 1% of its family
  • return on equitybottom 9% of its family
  • gross profit against assetsbottom 12% of its family
  • the share count against the year beforebottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
3.4/10

How strong is its position in its industry?

bottom 34% of 101 in its family; net margin -298.8%.

weight 45% of this tense · 34th percentile among 101 sector filers · read for its customers

From the record

Top KingWin Ltd's standing among 101 graded names in its industry family: revenue of $8 million in fiscal 2025 ranks in the bottom 9% by size; a net margin of -298.8% ranks in the bottom 3%; revenue growth of 37% a year over the last 3 filed years ranks in the top 10% (its annual reports).

What it rests on

  • revenue against the family$8.0Mbottom 9% of its family
  • net margin-298.8%bottom 3% of its family
  • three-year revenue growth37.0%top 10% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
5.3/10

What are the people in charge doing?

SI estimate 5.3/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 73 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-05-08 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 6 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 73 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-05-08 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 6 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
family median, 73 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Top KingWin Ltd's leadership is put at 5.3 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-05-08 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 6 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 73 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

4.3/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed
3.8/10

How much room does it have to grow?

bottom 38% of 99 in its family for room to expand.

weight 33% of this tense · 38th percentile among 99 sector filers · read for itself

From the record

Top KingWin Ltd's room to grow, from the newest filed statements (fiscal 2025): cash of $13 million against no long-term debt tagged leaves 39.3% of its assets as net cash, top 10% of its family; cash from operations less capital spending is -16.2% of revenue (bottom 17%); a gross margin of 8.7% (bottom 9%) (its annual report).

What it rests on

  • cash less debt against assets39.3%top 10% of its family
  • cash from operations less capital spending against revenue-16.2%bottom 17% of its family
  • gross margin8.7%bottom 9% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
5.0/10

What could actually drive growth from here?

top 50% of 99 in its family for growth drivers.

weight 45% of this tense · 50th percentile among 99 sector filers · read for its customers

From the record

Top KingWin Ltd's growth drivers, from the filed years to fiscal 2025: revenue grew 37% a year over the last three filed years against 43.2% over all 6, slowing (bottom 38% of its family); the newest year grew 114.4% (top 3%); capital spending grew -32.2% a year (bottom 15%) (its annual reports). Top KingWin Ltd reported 6 product lines in fiscal 2025: Revenues From Sales of Devices to Support AI Data Collection and Analysis at $7 million (83%), Revenue From Sales of Robots at $480 thousand (6%), Corporate Business Training Service at $420 thousand (5%), and 3 more; 1 of 5 grew against the year before (its annual report).

What it rests on

  • three-year growth against the whole span-6.2 points a yearbottom 38% of its family
  • the newest year's revenue growth114.4%top 3% of its family
  • three-year growth of capital spending-32.2%bottom 15% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
3.4/10

Did its newest year beat what its own record pointed to?

bottom 34% of 93 in its family for expectations against reality.

weight 22% of this tense · 34th percentile among 93 sector filers · read for its shareholders

From the record

Top KingWin Ltd's newest year against its own record: revenue of $8 million in fiscal 2025 came in 95.6% above the $4 million its prior three years' pace pointed to (top 5% of its family); net income of $24 million against a prior three-year average of $4 million (bottom 4%); a net margin of a loss larger than its revenue against losses larger than its revenue before (bottom 3%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace95.6%top 5% of its family
  • net income against the prior three years' averagefive times below its prior average or morebottom 4% of its family
  • net margin against its prior averagedown more than 100 pointsbottom 3% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton DPU · research, not advice