Welcome to our dedicated page for Top KingWin SEC filings (Ticker: WAI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
This page compiles U.S. SEC filings for Top KingWin Ltd (WAI), a Cayman Islands exempted company operating in the financial services and capital markets space. As a foreign private issuer, Top KingWin reports to the SEC primarily through Form 6-K current reports, which cover corporate events, financing transactions, governance actions, and financial reporting.
In these filings, investors can review capital-raising and securities transactions, including details of convertible promissory note offerings to institutional investors, private placements of notes, and registered direct offerings of class A ordinary shares. The filings describe interest rates, original issue discounts, conversion rights into ordinary shares, and the use of proceeds for working capital and general corporate purposes. They also include documents such as purchase agreements, legal opinions, and termination agreements when offerings are unwound.
Top KingWin’s SEC submissions also document share structure and Nasdaq-related actions. Form 6-Ks describe shareholder approvals and implementation of 1-for-25 reverse share splits of class A and class B ordinary shares, handling of fractional shares by rounding up, and amendments to the company’s memorandum and articles of association. Other filings report Nasdaq bid price deficiency notices, delisting determinations, the company’s intent to request hearings, and subsequent Nasdaq notifications confirming that the company regained compliance and is subject to a one-year Mandatory Panel Monitor period.
Financial reporting is reflected in interim financial statements furnished on Form 6-K, which are incorporated by reference into registration statements such as Form S-8 and Form F-3. Exhibits include unaudited interim consolidated financial statements and associated Inline XBRL documents.
On Stock Titan, these filings are updated from EDGAR and paired with AI-powered summaries that explain the significance of each document. Users can quickly understand key points in Top KingWin’s 6-Ks, including financing terms, share consolidations, Nasdaq communications, and financial disclosures, without reading every page of the underlying filings.
Top KingWin Ltd agreed to sell its wholly owned indirect subsidiary Guangdong Tiancheng Jinhui Enterprise Development Group Co., Ltd. to Junze Management Co., Limited for cash consideration of USD 218,100 under a Share Transfer Agreement dated May 21, 2026.
Before this deal, Top KingWin owned the Target through its ownership of Sky KingWin Ltd. and Sky KingWin (HK) Limited. After closing, the Purchaser will be the sole shareholder of the Target and will assume all of its assets and liabilities, as well as those of its subsidiaries, once closing conditions including payment of the purchase price are met.
Top KingWin Ltd Chief Financial Officer Yang Jie has filed an initial ownership report on Form 3, showing direct holdings of 17,601 Class A Ordinary Shares. This filing records her status as an insider and the size of her existing position, without reporting any recent share purchases or sales.
Top KingWin Ltd director Li Yanna has filed an initial ownership report showing a personal stake in the company. The Form 3 discloses direct ownership of 14,080 Class A Ordinary Shares of Top KingWin Ltd. This filing records existing holdings rather than reporting a new purchase or sale.
Top KingWin Ltd director Mao Dongliang filed an initial Form 3 reporting his beneficial ownership of the company’s Class A Ordinary Shares.
The filing shows indirect ownership of 154 shares through Mao Dongliang Holding Co., Ltd and direct ownership of 8,801 shares, with no reported buy or sell transactions.
Top KingWin Ltd director Liao Zhanlin filed an initial ownership report, listing 17,601 Class A Ordinary Shares held directly. This Form 3 filing establishes his current equity position in the company and does not show any recent share purchases or sales.
Top KingWin Ltd director Li Yibing has filed an initial Form 3 to report existing ownership in the company. The filing shows direct ownership of 17,601 Class A Ordinary Shares. This is a disclosure of current holdings and does not indicate a new purchase or sale.
Top KingWin Ltd reports that it has entered a new business focused on AI-enabled desktop robotics alongside its existing corporate training and consulting services in China. Since late 2024, it has launched sales of devices and robots, currently acting mainly as a distributor of third-party products.
The company’s AI robotics portfolio includes one commercialized desktop robot, the TK-D2C, for small office and retail use, and a next-generation TK-D3 platform that is still under testing and certification. Planned SaaS and software-platform services are not yet operational and remain subject to development and commercialization risk.
Top KingWin notes that the AI robotics business is at an early stage, with customers currently including one distributor and products sourced from a single Hong Kong provider. Extensive risk factors highlight its evolving business model, dependence on key vendors and skilled personnel, uncertain R&D outcomes, and legal, technical and regulatory risks related to AI, open-source software and cybersecurity.
Top KingWin Ltd, a China-based equity investment services and IT solutions provider, filed its annual report detailing rapid 2025 revenue growth and significant risk factors. Revenue rose to $8,038,370 in 2025 from $3,750,352 in 2024, an increase of 114% driven mainly by a 358% surge in sales of IT solution products such as data devices and AI robots, while corporate training and consulting revenue fell 64%.
The report highlights that this shift has made revenue highly concentrated in IT solutions, raising concerns about sustainability and business concentration risk. The company remains an early-stage business with a limited operating history and faces intense competition, regulatory uncertainty in China, foreign exchange risk, data and cybersecurity exposure, and evolving legal frameworks for AI and generative technologies.
Top KingWin also discloses a contract to sell 10,000 TK‑D2C AI robots for $4.8 million, partially delivered in 2025, and notes reliance on PRC subsidiaries for dividends and cash flows, as well as typical risks tied to being an emerging growth company listed on the Nasdaq Capital Market.
Top KingWin Ltd reports a change in its independent auditor. Effective December 28, 2025, Tang Qian & Associates, PLLC resigned as the company’s independent registered public accounting firm, and the board and audit committee approved the appointment of Li CPA LLC as auditor for the year ended December 31, 2025.
The company notes that Tang Qian & Associates’ report on the financial statements for the year ended December 31, 2024 contained no adverse or disclaimer of opinion and was not qualified or modified for uncertainty, scope, or accounting principles. The company also states there were no disagreements or reportable events with Tang Qian & Associates, and includes a letter from the former auditor confirming agreement with the disclosure as it relates to their firm.
Top KingWin Ltd has regained compliance with Nasdaq’s minimum bid price requirement under Listing Rule 5550(a)(2), according to a notification dated October 7, 2025. This means the company currently meets Nasdaq’s standard for the minimum trading price of its shares.
At the same time, Nasdaq has placed Top KingWin under a one-year Mandatory Panel Monitor under Listing Rule 5815(d)(4)(B). If the company again falls out of bid price compliance during this period, it will not receive any additional cure or compliance period and will instead receive a delist determination letter. Top KingWin would then be able to request a new hearing with a Nasdaq Hearings Panel, but its securities could ultimately be delisted from Nasdaq depending on the outcome.