MeritValue

AiXin Life International, Inc.

AIXNdata completeness 100%17 fiscal years on file
The thesis, from the filings

AiXin Life International, Inc. earns about -4% on equity, with a roughly flat share count. The cash-flow models don't apply cleanly here — the ledger says why below.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.

i. The business — what you’d actually own
FigureFY 2021FY 2022FY 2023FY 2024FY 2025
Revenue$3.07M1$2.71M2$4.09M3$3.82M4$1.49M4
Net income−$267,2365−$6.37M6−$2.09M7−$2.77M8−$2.04M8
Operating cash flow−$57,8049−$1.62M10−$1.39M11−$1.63M12−$2.03M12
Capital expenditure$1,34113$156,72314$295,48715$241,66116$13,04516
Free cash flow (derived)−$59,1459−$1.78M10−$1.69M11−$1.87M12−$2.05M12
Total debt————$85,79917
Cash & equivalents$8.56M18$510,12819$443,75820$62,31021$20,75121
Diluted shares25.0M25.0M25.0M25.0M25.0M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
−$2.63
your share of equity
Profit it earned you last year
−$0.82
Free cash flow it threw off
−$0.82
Debt you’d be carrying
$0.03

10 shares is a claim on −$2.63 of net worth that earned you −$0.82 and generated −$0.82 of cash last year, against $0.03 of debt.

iii. Is this a good business?
Moat signal · return on equity
-4% avg · 5y
FY21 -4%FY22 —FY23 —FY24 —FY25 —

It earned an average -4% on equity over 5 years. Compare that to what it costs to fund the business.

seeing a moat in the numbers →
Management signal · capital allocation
−0% shares · 5y

Share count is roughly flat over 5 years — little dilution, little buyback. Total debt has held roughly steady.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth — engine v0.1.0
DCF · Growth Exit 10Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
DCF · Growth Exit 5Y
not applicable
3y-median FCF non-positive — growth-exit DCF not applicable (see EPV)
Earnings Power Value
not applicable
normalized (5y-median) earnings non-positive — EPV undefined
Graham Number
not applicable
diluted EPS missing or non-positive — Graham Number undefined

Different models answer different questions — which to trust when →

Sources — the receipts
  1. 10-K · period ending 2021-12-31 · accession 0001493152-23-014773 (RevenueFromContractWithCustomerExcludingAssessedTax)
  2. 10-K · period ending 2022-12-31 · accession 0001493152-24-013947 (RevenueFromContractWithCustomerExcludingAssessedTax)
  3. 10-K · period ending 2023-12-31 · accession 0001641172-25-008967 (RevenueFromContractWithCustomerExcludingAssessedTax)
  4. 10-K · period ending 2024-12-31 · accession 0001493152-26-023606 (RevenueFromContractWithCustomerExcludingAssessedTax)
  5. 10-K · period ending 2021-12-31 · accession 0001493152-23-014773 (NetIncomeLoss)
  6. 10-K · period ending 2022-12-31 · accession 0001493152-24-013947 (NetIncomeLoss)
  7. 10-K · period ending 2023-12-31 · accession 0001641172-25-008967 (NetIncomeLoss)
  8. 10-K · period ending 2024-12-31 · accession 0001493152-26-023606 (NetIncomeLoss)
  9. 10-K · period ending 2021-12-31 · accession 0001493152-23-014773 (NetCashProvidedByUsedInOperatingActivities)
  10. 10-K · period ending 2022-12-31 · accession 0001493152-24-013947 (NetCashProvidedByUsedInOperatingActivities)
  11. 10-K · period ending 2023-12-31 · accession 0001641172-25-008967 (NetCashProvidedByUsedInOperatingActivities)
  12. 10-K · period ending 2024-12-31 · accession 0001493152-26-023606 (NetCashProvidedByUsedInOperatingActivities)
  13. 10-K · period ending 2021-12-31 · accession 0001493152-23-014773 (PaymentsToAcquirePropertyPlantAndEquipment)
  14. 10-K · period ending 2022-12-31 · accession 0001493152-24-013947 (PaymentsToAcquirePropertyPlantAndEquipment)
  15. 10-K · period ending 2023-12-31 · accession 0001641172-25-008967 (PaymentsToAcquirePropertyPlantAndEquipment)
  16. 10-K · period ending 2024-12-31 · accession 0001493152-26-023606 (PaymentsToAcquirePropertyPlantAndEquipment)
  17. 10-K · period ending 2025-12-31 · accession 0001493152-26-023606 (ShortTermBorrowings)
  18. 10-K · period ending 2021-12-31 · accession 0001493152-23-014773 (CashAndCashEquivalentsAtCarryingValue)
  19. 10-K · period ending 2022-12-31 · accession 0001493152-24-013947 (CashAndCashEquivalentsAtCarryingValue)
  20. 10-K · period ending 2023-12-31 · accession 0001641172-25-008967 (CashAndCashEquivalentsAtCarryingValue)
  21. 10-K · period ending 2024-12-31 · accession 0001493152-26-023606 (CashAndCashEquivalentsAtCarryingValue)