Moon Inc. (1723.HK), formerly HK Asia Holdings Limited, operates as an investment holding company primarily engaged in the wholesale and retail sale of prepaid telecommunications products in Hong Kong; it offers subscriber identity module (SIM) cards and top-up vouchers that enable users to make local and international phone calls as well as access mobile data services; the company distributes these products through self-operated retail stores, wholesalers, and retailers within its sales network, targeting domestic helpers, local users traveling abroad, and tourists. Founded in 1995 and headquartered at Chun Wo Commercial Centre in Sheung Wan, Hong Kong, Moon Inc. maintains a workforce of approximately 47 employees and focuses its operations within the Hong Kong market while exploring expansions into cryptocurrency and Web 3.0 technology-related businesses. In early 2025, UTXO Management, in partnership with Sora Ventures, Top Legend SPC, and Allied Top Investments, acquired a majority stake of around 70% in the company, leading to its rebranding from HK Asia Holdings Limited to Moon Inc. to reflect a strategic pivot toward Bitcoin investments, Web3 initiatives, and financial technology ventures; this acquisition, modeled after successes like Japan's Metaplanet, positions the firm to diversify its portfolio in the blockchain industry. More recently, on December 1, 2025, Moon Inc. announced further open-market acquisitions of Bitcoin funded by cash reserves, marking ongoing Bitcoin treasury accumulation alongside previous purchases to enhance long-term shareholder value and align with global financial trends in digital assets. The company also pursues related moves, such as a subsidiary's subscription for a stake in Asia Strategy Partners LLC and interests in entities like DV8, underscoring its commitment to cryptocurrency integration across treasury and product lines.