AIRWA INC.

The Company

Business overview

The Company operates through multiple subsidiary platforms to deliver AI-enabled services, technology licensing, advertising services, and international trading. It has completed several acquisitions to build out these businesses and diversify revenue streams.

Core business segments and offerings

AI Services (Rafael AI)

• Provides end-to-end data-to-AI solutions to convert raw data into intelligent applications.
• Five interconnected AI modules create a closed-loop process covering data generation, model refinement, and operational feedback.
• Industry focus: healthcare, industrial manufacturing, and autonomous driving.
• Revenue: $6.6 million in the final quarter ended April 30, 2026.
• Main clients are technology companies in the software and IT services space.

Technology Licensing (YYEM)

• Owns patents and proprietary technology licensed to partners worldwide to enable localized matchmaking experiences.
• Main regional licensees covered: Hong Kong (IP for Japan/South Korea), UK (UK/Europe), and USA (Sub-Saharan Africa).
• Revenue from royalties: $7.3 million for the fiscal year ended April 30, 2026.
• License agreements with the three main licensees were terminated in 2025; replacements are being sought.

Advertising (YYEM)

• Offers digital marketing and performance advertising across platforms including Google, TikTok, and Meta.
• Services include strategy, platform setup, creative production, campaign monitoring, analytics, optimization, and reporting.
• Revenue: $12.0 million for the fiscal year ended April 30, 2026.
• Clients are primarily Singapore-based and operate across Southeast Asia, the United States, fintech, online entertainment, and casual gaming sectors.

International Trading (Best Life)

• Cross-border consumer-goods distribution and e-commerce.
• Capabilities include direct brand sourcing, import expertise, bonded warehousing, platform operations, offline retail access, and private-label development.
• Product focus includes Japanese and other international brands sold across China and overseas markets.
• Relationships with major platforms and retailers such as Alibaba Health Hong Kong, AlipayHK, Tmall, Taobao, and Cainiao.
• Expansion activity includes the UK, US, Canada, and New Zealand.
• Acquisition: 97% of Best Life acquired for $50 million with contingent earn-outs; completed July 30, 2026.

Material corporate moves and acquisitions

• November 21, 2024: Acquired Yuanyu Enterprise Management Co., Limited (YYEM) for $56 million in cash and stock; YYEM became the Company’s sole operating subsidiary. Sale of Slinger Bag Americas Inc. to a Florida LLC formed by former management.
• January 30, 2026: Acquired the holding company of Rafael AI Sdn. Bhd. (Malaysia) for $140 million in USDT; Rafael AI became a wholly owned subsidiary.
• July 30, 2026: Acquired 97% of Best Life Trade Co., Limited for $50 million plus potential earn-outs.
• Reverse stock splits: 1-for-40 (May 15, 2026) and 1-for-20 (August 15, 2026); trading began split-adjusted on May 18 and August 17, 2026, respectively.

Employees and locations

• Employees: 49 full-time employees as of the report.
• Headquarters: 28/F, The Galaxy, 313 Castle Peak Road, Kwai Chung, New Territories, Hong Kong (lease through June 14, 2027).
• Rafael AI: B-3-12, IOI Boulevard, Bandar Puchong Jaya, Puchong, Selangor, Malaysia.
• Best Life: Registered office at 8/F, Block C, Fou Wah Industrial Building, 10-16 Pun Shan Street, Tsuen Wan, Kowloon, Hong Kong; warehouse at B28, 3/F, Block B, Cambridge Plaza, 188 San Wan Road, Sheung Shui, New Territories, Hong Kong.

Financial snapshot

Revenue by segment for the fiscal year ended April 30, 2026:

• AI Services: $6.6 million (final quarter revenue).
• Advertising: $12.0 million.
• Technology Licensing (royalties): $7.3 million.

Notable licensing and customers

• YYEM previously had three main regional licensees:
  • Hong Kong licensee for IP in Japan and South Korea and other locations.
  • UK licensee for rights in the UK and Europe.
  • USA licensee for rights in Sub-Saharan Africa.
• All three license agreements were terminated in 2025; replacements are being sought.

Summary

The Company is a diversified, tech-enabled multinational group focused on AI services (Rafael AI), IP licensing and advertising (YYEM), and international trading (Best Life). It has grown through targeted acquisitions and operates across Hong Kong, Malaysia, and Greater China markets with a compact global workforce. Revenue streams disclosed include AI services, advertising, and licensing royalties.