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Vol. II · No. 255Saturday, 12 September 2026
TTitan Protect
The Screen · Financials · Capital Markets

Metalpha Technology Holding Ltd

MATH · USD · Market cap $47M · 25 employees

Metalpha Technology Holding Limited, together with its subsidiaries, provides wealth management services in Hong Kong.

FAIL · Does not pass the screen
1.08 USD

At the last full screen
2026-06-14

Screened 2026-06-14 · the tape above runs as of 22:12 UTC · 11 Sep · two dates, stated on purpose · verdict and workings shown in full · never trimmed

The Label · The Season, Not the Day

This name holds its markup label.

Metalpha Technology Holding Ltd holds its Markup at $1.08. The statistical read favours the sellers, held for 13 days.

As held on the ledger · 2026-06-14
PhaseMarkup
Quantitative stateThe statistical read favours the sellers, held for 13 days
Price at the screen$1.08
Valuation6.00 trailing · N/A forward price to earnings
Values screenFAIL · score 30.0
Beta-0.69
The Workings

Five Screens, Shown in Full

Does not pass. Excluded industry: Capital Markets

TestFigureLimitWhat it meansStatus
Business activity Excluded Core business clean Excluded industry: Capital Markets Fail
Debt load Excluded Below 33% Interest-bearing debt is of its assets, above the one-third ceiling the screen allows. Fail
Interest-bearing cash Excluded Below 33% Interest-bearing cash and securities are of assets, above the one-third limit. Fail
Receivables Excluded Below 49% Money owed to the company is of assets, above the 49% limit. Fail
Revenue purity Excluded Below 5% of revenue comes from non-compliant sources, over the 5% line. Fail

Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.

The Business, in Plain Words
The fundamentals · plain-English read
Trailing P/E6.0xvery cheap relative to earnings
EPS, trailing0.18
Revenue growth-39.0%revenue is shrinking
Profit margin18.9%healthy profit margins
Return on equity23.1%an exceptional return on shareholder capital
Debt to equity0.34minimal debt: a conservative balance sheet
Beta-0.69barely tracks the market's swings
52-week range0.84 - 4.10
MoatNONE
Market cap$47M
Employees25

The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; its business and earnings are exposed to Hong Kong and to currency swings.

Plain-English interpretation of our own screen data. Analysis, not advice.

The Dated Journal · Newest First, Never Edited

Every Entry, As Written

2026-09-04 Markdown · changed $1.08 +0.0% Entry 5

The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 75%. Our forward projection puts the odds of a 10% gain over the next month near 29%.

2026-08-05 Distribution · changed $1.08 +0.0% Entry 4

The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 75%. Our forward projection puts the odds of a 10% gain over the next month near 29%.

2026-07-18 Markdown $1.08 +0.0% Entry 3

The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 75%. Our forward projection puts the odds of a 10% gain over the next month near 29%.

2026-07-03 Markdown $1.08 +0.0% Entry 2

The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.

2026-07-02 Markdown $1.08 Entry 1

The framework reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

What Holding Actually Paid · Price Plus Dividends
If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $1.00 +3.1% · $1,031 +3.1%
2 months $1.11 -7.1% · $929 -7.1%
3 months $1.24 -16.9% · $831 -16.9%
6 months $2.75 -62.5% · $375 -62.5%
1 year $4.09 -74.8% · $252 -74.8%
2 years $1.40 -26.6% · $734 -26.6%
3 years $1.02 +1.1% · $1,011 +1.1%
5 years $1.64 -37.2% · $629 -37.2%

Historical returns from market close data. Past performance does not guarantee future results.

The Ledger's Promise

This entry now belongs to the ledger. Whatever MATH does next, these words stay.

Metalpha Technology Holding Ltd · MATH · Markup · $1.08
Recorded 2026-06-14 · before the outcome · scored mechanically

All of today's entries → See the running score →
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Screening is research, not a fatwa and not financial advice. Figures are drawn from public accounts at the screen date shown. Always manage your risk.

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