속보 • May 08
Phoenix Asia Holdings to Acquire ACEA Pharma for US$1 Billion in All-Stock Deal Phoenix Asia Holdings has agreed to acquire 100% of ACEA Pharma, Inc. in an all-stock deal valued at US$1b.
The acquisition will be paid for through the issuance of 100 million new ordinary shares, subject to regulatory and stock exchange approvals, with closing targeted by the end of the second quarter of 2026.
Phoenix Asia has issued a US$20m convertible promissory note to its controlling shareholder, Phoenix Prosperity Investment Limited, to provide near-term funding as it pivots from construction-related activities to pharmaceuticals.
For you as an investor, the key shift is that Phoenix Asia is moving away from its previous construction-related focus and into the pharmaceutical sector by buying ACEA Pharma, a clinical-stage company working on oncology, autoimmune diseases and COVID-19. Because the deal is all-stock, existing shareholders face potential dilution from the 100 million new shares. The US$20m convertible note could add further equity over time if it is converted.
The transaction is not yet complete and still depends on regulatory and stock exchange approvals, with the parties aiming to close by late Q2 2026. Until then, Phoenix Asia’s profile reflects a transition story: a listed vehicle intending to build a footprint and potential revenue streams in pharmaceuticals, with ACEA Pharma expected to retain its own name within the combined structure. Investors may want to track future disclosures on deal conditions, integration plans and any updates on ACEA Pharma’s clinical programs. 공시 • May 05
Phoenix Asia Holdings Limited announced that it has received $20 million in funding from Phoenix Prosperity Investment Limited Phoenix Asia Holdings Limited announced that it has issued convertible promissory notes in the principal amount of $20,000,000 for gross proceeds of $20,000,000 on May 4, 2026. The transaction includes participation from returning investor, Phoenix Prosperity Investment Limited. The note matures on the third anniversary of the date of issuance, does not accrue interest, and is convertible into ordinary shares of the company at a conversion price of $10 per share. This note shall constitute senior indebtedness of the borrower. Reported Earnings • Apr 04
First half 2026 earnings released: EPS: US$0.009 (vs US$0.039 in 1H 2025) First half 2026 results: EPS: US$0.009 (down from US$0.039 in 1H 2025). Revenue: US$3.51m (down 7.3% from 1H 2025). Net income: US$198.3k (down 69% from 1H 2025). Profit margin: 5.6% (down from 17% in 1H 2025). The decrease in margin was primarily driven by lower revenue. New Risk • Apr 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.4% Last year net profit margin: 19% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (137% average daily change). High level of non-cash earnings (175% accrual ratio). Minor Risk Profit margins are more than 30% lower than last year (8.4% net profit margin). New Risk • Mar 01
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (145% average daily change). Minor Risk Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Board Change • Dec 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Director Tommy Yip is the most experienced director on the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. 공시 • Nov 03
Phoenix Asia Holdings Limited Announces Board Appointments Phoenix Asia Holdings Limited announced the increase in the size of its Board of Directors by two (2), bringing the total number of directors to seven (7) and the appointment of Yafei Xie as non-independent director and Yaqiao Xie as independent director to its Board of Directors. Ms. Yafei Xie, age 37, has over 10 years of experience in the capital market. Ms. Yaqiao Xie, age 36, has over 10 years of experience in business administration. About Yafei XieMs: Yafei Xie, age 37, has over 10 years of experience in the capital market. Since January 2025, Ms. Yafei Xie has been a register officer and executive partner of Glory Profit Capital Limited. Since 2021, Ms. Yafei Xie has been a part-time lecturer at HKU Institute for China Business. From February 2018 to December 2024, Ms. Yafei Xie was a registered officer and director of Royal Morgan Fund Management Co. Ltd. From May 2014 to December 2017, Ms. Yafei Xie was a supervisor of capital acquisition department of Zhuhai Huafa Group Co. Ltd. Ms. Yafei Xie obtained a bachelor of business administration from The London School of Economics and Political Science in 2012 and a master of management finance and accounting from the University of Leicester in 2013. About Yaqiao XieMs: Yaqiao Xie, age 36, has over 10 years of experience in business administration. From January 2020 to October 2025, Ms. Yaqiao Xie was the chief executive officer of Guangdong Xintou Co. Ltd. From October 2018 to May 2019, Ms. Yaqiao Xie was a general manager of Beijing Zhongke Residence Company. From August 2016 to December 2019, Ms. Yaqiao Xie was an administrative manager of Imperial Pacific International Holdings Limited. From January 2015 to July 2016, Ms. Yaqiao Xie was a consultant of Chun Yu Industrial Co. Ltd. Ms. Yaqiao graduated from the Hubei Water Conservancy and Hydropower Polytechnic College in 2010. 공시 • Sep 04
Phoenix Asia Holdings Limited Appoints Yu Gao to Its Board of Directors Phoenix Asia Holdings Limited announces a significant update in its board of directors (the “Board of Directors”). Phoenix Asia announced the increase in the size of its Board of Directors by one (1), bringing the total number of directors to five (5) and the appointment of Yu Gao to its Board of Directors as the fifth director. Ms. Gao, age 44, has over 15 years of experience in business administration. Her expertise will be pivotal to Phoenix Asia’s future business development. Ms. Yu, Gao, age 44, has over 15 years of experience in business administration. Since February 2023, Ms. Gao has been an executive director of Master Success International Investment Limited. From November 2017 to January 2024, Ms. Gao was a vice president and director of Beijing Ruibailing Technology Company Limited. From May 2007 to April 2015, Ms. Gao was a deputy general manager of Guangdong Century Qingshan Nickel Industry Company Limited. Ms. Gao obtained a bachelor in journalism from the Communication University of China in 2008. 공시 • Jul 31
Phoenix Asia Holdings Limited announced delayed 20-F filing On 07/30/2025, Phoenix Asia Holdings Limited announced that they will be unable to file their next 20-F by the deadline required by the SEC. Valuation Update With 7 Day Price Move • May 26
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to US$3.50, the stock trades at a trailing P/E ratio of 61.9x. Average trailing P/E is 28x in the Construction industry in the US. 
