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SORA

AsiaStrategy
CIK 0002033515 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
89.2
composite ยท 4 signals ยท TRIGGERED

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-01 ยท FY 2025-12-31 ยท TRIGGERED100.0

Earnings quality

Beneish M-Score 0.43 exceeds the -1.78 manipulation threshold
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-30) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": 0.433,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1,
    "GMI": 2.314,
    "AQI": 1.581,
    "SGI": 0.623,
    "DEPI": 2.032,
    "SGAI": 1,
    "LVGI": 0.252,
    "TATA": 0.418
  },
  "defaulted_to_neutral": [
    "DSRI",
    "SGAI"
  ],
  "sloan_accruals": 0.7169,
  "inputs": {
    "revenue_t": 10985176,
    "revenue_t1": 17619363,
    "total_assets_t": 39723888,
    "net_income_t": 12293649,
    "cfo_t": -4322067
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/2033515/000121390026050019/0001213900-26-050019-index.htm",
    "form": "20-F",
    "filed": "2026-04-30"
  }
}
P-05 ยท FY 2025-12-31 ยท ELEVATED86.3

Tax arbitrage

ETR 1.3% vs 21% statutory โ€” gap persistent across 2 of 2 years
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-30) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2025-12-31": 0.0128,
    "2023-12-31": 0.0757
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2025-12-31": 0.1972,
    "2023-12-31": 0.1343
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/2033515/000121390026050019/0001213900-26-050019-index.htm",
    "form": "20-F",
    "filed": "2026-04-30"
  }
}
P-12 ยท FY 2025-12-31 ยท ELEVATED35.9

Restatement predictor

F-Score 1.08 โ€” misstatement risk 1.1x the base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-30) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 1.078,
  "probability": 0.00399,
  "components": {
    "rsst": 0.7169,
    "drec": 0.0019,
    "dinv": 0.2138,
    "soft": 0.963,
    "dcs": -0.379,
    "droa": 0.3158,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/2033515/000121390026050019/0001213900-26-050019-index.htm",
    "form": "20-F",
    "filed": "2026-04-30"
  }
}
P-13 ยท FY 2025-12-31 ยท ELEVATED70.0

Zombie / distress

Interest coverage -24.27x below 1.0
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-30) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": -24.272,
    "2024-12-31": null,
    "2023-12-31": null,
    "2022-12-31": null
  },
  "consecutive_years_below_1": 1,
  "altman_z_double_prime": 6.461,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": -1576061,
    "interest_expense_t": 64932
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/2033515/000121390026050019/0001213900-26-050019-index.htm",
    "form": "20-F",
    "filed": "2026-04-30"
  }
}