Alset

Revenue is lumpy and project‑driven. 2025 revenue fell to 4.47 million from 21.12 million in 2024 as lot sales ended. Q1 2026 revenue was 0.98 million and loss from operations was 2.65 million.

The portfolio of securities and equity‑method holdings adds earnings volatility, including a 30.08 million impairment in 2025 and sizable quarterly swings from unrealized gains/losses. Exposure to multiple countries introduces FX noise via intercompany loans. Overall cash generation lacks stability.