BitVentures Ltd
BVC · Investment Advice · EDGAR filings ↗
Grade
D44Former China/HK wealth manager that lost de facto control of its PRC entities, saw revenue collapse to zero, and is mid-pivot to unproven new ventures.
Strengths
- Extreme liquidity optics (current/quick ratio 62.6, 100th pct) and ~6 quarters of cash
- Low absolute cash burn for its size
Risks
- Revenue fell 100% (2nd pct) after exiting all licensed businesses; ROE -55%, ROA -54%
- Severe governance red flags: former chairman detained, PRC subsidiaries/VIEs seized, material weakness, China/HK delisting risk
Notable findings
- Cash burnNegative free cash flow (-6.5M)
- Material weakness● 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 oper
- Revenue declineRevenue -100.0% YoY
Key metrics
Return on equity
-55.2%
Return on assets
-54.3%
Revenue growth (QoQ)
-100.0%
Current ratio
62.6×
Free cash flow
-$6M
EBITDA
-$3M
Tangible book value
$10M
Cash & investments
$10M
Cash runway
6q
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-11 | Chen Jie (Janet) | Grant | 1.1K | — |
| 2026-05-11 | Gallo Joel Adalberto | Grant | 1.1K | — |
All non-derivative Form 4 activity (SEC), newest first.
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 20-F | 2025-10-17 | 2025-06-30 | 0001437749-25-031287 ↗ |
| 20-F | 2025-05-13 | 2024-06-30 | 0001410578-25-001209 ↗ |
| 20-F | 2023-10-18 | 2023-06-30 | 0001104659-23-109753 ↗ |
| 20-F | 2022-10-12 | 2022-06-30 | 0001104659-22-107887 ↗ |
| 20-F | 2021-10-12 | 2021-06-30 | 0001104659-21-125058 ↗ |