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Solowin Holdings
(NASDAQ:AXG)
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Rating:41Neutral
Price Target:
$0.03
â–¼(-98.79% Downside)
Action:Reiterated
Date:10/29/26
The score is held down primarily by weak financial quality—multi-year negative operating/free cash flow, ongoing losses, and a sharply reduced equity base—combined with very bearish technical signals. Recent revenue growth and moderate leverage provide only limited support, while valuation remains constrained by negative earnings and no indicated dividend yield.
Positive Factors
Revenue Growth
The sharp 2026 revenue increase indicates strong top-line momentum and suggests expanding activity in the company’s markets. If management can convert this growth into better operating leverage, the larger revenue base could support reinvestment, scale benefits, and stronger competitive positioning over the next several quarters.
Negative Factors
Persistent Unprofitability
Deep losses despite substantial revenue growth indicate that expansion has not yet translated into durable earnings power. Continued negative EBIT and net income can limit internally funded investment, weaken resilience, and require management to prioritize cost control or additional financing before growth becomes economically attractive.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
The sharp 2026 revenue increase indicates strong top-line momentum and suggests expanding activity in the company’s markets. If management can convert this growth into better operating leverage, the larger revenue base could support reinvestment, scale benefits, and stronger competitive positioning over the next several quarters.
Read all positive factors
Solowin Holdings (AXG) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.05M
Dividend Yield3.18%
Average Volume (3M)15.75M
Price to Earnings (P/E)―
Beta (1Y)0.02
Revenue Growth893.69%
EPS Growth69.66%
CountryUS
Employees80
SectorGeneral
Sector StrengthN/A
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)N/A
Shares Outstanding181,529,460
10 Day Avg. Volume5,890,958
30 Day Avg. Volume15,754,534
Financial Highlights & Ratios
PEG Ratio3.25
Price to Book (P/B)136.92
Price to Sales (P/S)122.33
P/FCF Ratio-193.74
Enterprise Value/Market Cap29.80
Enterprise Value/Revenue50.10
Enterprise Value/Gross Profit269.82
Enterprise Value/Ebitda-110.12
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Solowin Holdings Business Overview & Revenue Model
Company Description
Solowin Holdings (AXG), established in 2021 and headquartered in Tsim Sha Tsui, Hong Kong, operates as an investment holding firm. Its primary focus is on delivering a broad spectrum of financial solutions across Hong Kong. The company's offerings...
Solowin Holdings Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
56
Neutral
Cash Flow
22
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.59M | 361.73K | 548.40K | 568.08K | 418.27K |
| Gross Profit | 766.01K | 275.50K | 538.82K | 562.59K | 237.40K |
| EBITDA | -1.69M | -1.08M | -558.63K | 174.39K | -93.91K |
| Net Income | -1.69M | -1.10M | -582.27K | 172.09K | -125.76K |
Balance Sheet | |||||
| Total Assets | 6.47M | 12.31M | 15.40M | 10.23M | 9.46M |
| Cash, Cash Equivalents and Short-Term Investments | 2.43M | 3.84M | 2.14M | 1.93M | 977.00K |
| Total Debt | 980.33K | 1.08M | 1.07M | 251.00K | 98.00K |
| Total Liabilities | 3.26M | 7.58M | 6.48M | 6.89M | 7.46M |
| Stockholders Equity | 3.21M | 4.73M | 8.92M | 3.34M | 2.00M |
Cash Flow | |||||
| Free Cash Flow | -2.27M | -146.92K | -734.62K | -57.53K | -739.29K |
| Operating Cash Flow | -2.25M | -135.63K | -716.60K | -56.51K | -737.11K |
| Investing Cash Flow | 570.47K | 36.83K | -175.86K | 28.70K | 14.64K |
| Financing Cash Flow | 2.98M | 304.88K | 858.84K | -43.50K | 187.55K |
Solowin Holdings Technical Analysis
Negative
2.24
Price Trends
1.15
Negative
2.15
Negative
2.92
Negative
Market Momentum
-0.30
Negative
11.84
Positive
3.66
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AXG, the sentiment is Negative. The current price of 2.24 is above the 20-day moving average (MA) of 0.08, above the 50-day MA of 1.15, and below the 200-day MA of 2.92, indicating a bearish trend. The MACD of -0.30 indicates Negative momentum. The RSI at 11.84 is Positive, neither overbought nor oversold. The STOCH value of 3.66 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AXG.
Solowin Holdings Risk Analysis
Solowin Holdings disclosed 81 risk factors in its most recent earnings report. Solowin Holdings reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
If we fail to implement and maintain an effective system of internal controls to remediate our material weakness over financial reporting, we may be unable to accurately report our results of operations, meet our reporting obligations or prevent fraud. Q1, 2026
2.
Tokenized real-world assets issued, distributed or serviced through our platforms may be treated as securities, security-based swaps, collective investment products or other regulated instruments, which could subject us to significant regulatory, liability and operational risks. Q1, 2026
3.
The market for tokenized real-world assets remains nascent, and limited adoption, liquidity, interoperability or legal enforceability could materially limit the growth of our FERION platform. Q1, 2026
Solowin Holdings Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $739.16M | 6.52 | 13.05% | 1.19% | 41.46% | -8.31% | |
74 Outperform | $178.78M | 20.27 | 6.29% | 3.18% | 7.70% | 110.71% | |
67 Neutral | $1.13B | 10.95 | 10.71% | 1.65% | 20.97% | 16.24% | |
61 Neutral | $78.96M | -68.50 | -1.26% | 16.00% | 21.62% | -111.45% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | $1.23B | 39.66 | -14.08% | 2.16% | -20.87% | -66.62% | |
41 Neutral | $6.05M | -2.00 | -0.91% | 3.18% | 893.69% | 69.66% |
* General Sector Average
AXG
Solowin Holdings
0.03
-3.68
-99.25%
OPY
Oppenheimer Holdings
106.88
39.55
58.73%
SIEB
Siebert Financial
1.87
-1.03
-35.52%
WHG
Westwood Holdings Group
18.85
3.14
20.01%
TIGR
Up Fintech Holding
4.11
-6.71
-62.01%
PWP
Perella Weinberg Partners
12.94
-5.50
-29.81%
Solowin Holdings Corporate Events
Solowin Holdings Sets Up $50 Million ATM Program and Closes September Note Financing
Oct 22, 2026
On October 22, 2026, Solowin Holdings entered into an at-the-market sales agreement with Chaince Securities that allows the Hong Kong-based issuer to sell up to $50 million of its Class A ordinary shares over time under an effective U.S. shelf reg...
Solowin Holdings Shareholders Approve Major Capital Restructuring and Voting Power Changes
Oct 19, 2026
Solowin Holdings reported that it held an extraordinary general meeting of shareholders on October 13, 2026, in Hong Kong, where holders of its dual-class ordinary shares approved a 1-for-200 consolidation of both Class A and Class B shares, effec...
Solowin Holdings Calls October Extraordinary Meeting to Overhaul Share Structure and Voting Rights
Oct 2, 2026
Solowin Holdings has called an extraordinary general meeting of shareholders for October 13, 2026 in Hong Kong to vote on a series of significant corporate actions, including a 1-for-200 consolidation of both Class A and Class B ordinary shares ef...
Solowin Holdings Secures $2 Million Through Third Pre-Paid Share Purchase Financing
Sep 21, 2026
On September 21, 2026, Solowin Holdings issued its third pre-paid purchase instrument (PPP #3) to Streeterville Capital, LLC under a February 9, 2026 securities purchase agreement, raising $2 million in unsecured funding at an 8% annual interest r...
Solowin Holdings Marks 10 Years, Secures Bahrain Stablecoin License and Sharia Certification
Aug 21, 2026
On August 21, 2026, Solowin Holdings (AXG) marked its tenth anniversary, highlighting its evolution from a traditional finance player in Hong Kong in 2016 into a fully compliant fintech platform that unites blockchain-based stablecoins, tokenized ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.