Top Wealth Group Holding Limited Announces First Half 2025 Unaudited Financial Results
Top Wealth Group (NASDAQ: TWG), a premium sturgeon caviar supplier, reported its unaudited financial results for H1 2025. The company recorded revenue of $4.2 million, down 5.6% year-over-year, but significantly improved its bottom line with a net profit of $2.4 million compared to a net loss of $0.5 million in H1 2024.
The company demonstrated strong cost management, reducing total costs and operating expenses by 64.7% to $1.8 million. Administrative expenses notably decreased by 88.6% to $0.2 million. Despite reporting a profit, TWG's cash position remains tight with only $13,621 in cash and cash equivalents as of June 30, 2025, though management believes they have sufficient liquidity for the next twelve months through various financing options.
Top Wealth Group (NASDAQ: TWG), fornitore premium di caviale di storione, ha pubblicato i risultati finanziari non verificati per la prima metà del 2025. L'azienda ha registrato ricavi di 4,2 milioni di dollari, in calo del 5,6% rispetto all'anno precedente, ma ha notevolmente migliorato la redditività con un utile netto di 2,4 milioni di dollari rispetto a una perdita netta di 0,5 milioni di dollari nella prima metà del 2024.
L'azienda ha dimostrato una forte gestione dei costi, riducendo i costi totali e le spese operative del 64,7% a 1,8 milioni di dollari. Le spese amministrative sono scese notevolmente dell'88,6% a 0,2 milioni di dollari. Nonostante il profitto segnalato, la posizione di cassa di TWG resta ristretta, con solo 13.621 dollari in contanti ed equivalenti al 30 giugno 2025, sebbene la direzione ritenga di avere liquidità sufficiente per i prossimi dodici mesi attraverso varie opzioni di finanziamento.
Top Wealth Group (NASDAQ: TWG), proveedor premium de caviar de esturión, informó sus resultados financieros no auditados para la primera mitad de 2025. La compañía registró unos ingresos de 4,2 millones de dólares, con una caída year-over-year del 5,6%, pero mejoró significativamente su resultado neto con un beneficio neto de 2,4 millones de dólares en comparación con una pérdida neta de 0,5 millones en la primera mitad de 2024.
La empresa mostró una fuerte gestión de costos, reduciendo los costos totales y los gastos operativos en un 64,7% a 1,8 millones de dólares. Los gastos administrativos descendieron notablemente en un 88,6% a 0,2 millones. A pesar de reportar beneficio, la posición de efectivo de TWG se mantiene ajustada con solo 13.621 dólares en efectivo y equivalentes al 30 de junio de 2025, aunque la dirección cree que tienen liquidez suficiente para los próximos doce meses mediante diversas opciones de financiamiento.
Top Wealth Group (나스닥: TWG), 프리미엄 송어 캐비아 공급업체, 2025년 상반기 비감사 재무실적을 발표했습니다. 회사는 4.2백만 달러의 매출을 기록했으며 전년 동기 대비 5.6% 감소했지만, 2024년 상반기의 -0.5백만 달러의 순손실에서 2.4백만 달러의 순이익으로 bottom line을 크게 개선했습니다.
회사은 비용 관리에 강한 능력을 보여 총 비용 및 영업비를 64.7% 감소한 180만 달러로 줄였습니다. 관리비는 특히 88.6% 감소한 20만 달러로 떨어졌습니다. 이익을 보고했음에도 TWG의 현금 위치는 2025년 6월 30일 기준 현금 및 현금등가물 13,621달러에 불과하며 다만 경영진은 다양한 금융 옵션을 통해 향후 12개월 내에 충분한 유동성을 확보할 수 있다고 믿습니다.
Top Wealth Group (NASDAQ: TWG), un fournisseur premium de caviar d’esturgeon, a publié ses résultats financiers non audités pour le premier semestre 2025. La société a enregistré des revenus de 4,2 millions de dollars, en baisse de 5,6 % d’une année sur l’autre, mais a nettement amélioré son résultat net avec un bénéfice net de 2,4 millions de dollars comparé à une perte nette de 0,5 millions au S1 2024.
L’entreprise a démontré une gestion rigoureuse des coûts, réduisant les coûts totaux et les frais opérationnels de 64,7 % à 1,8 million de dollars. Les frais administratifs ont nettement diminué de 88,6 % à 0,2 million de dollars. Malgré ce bénéfice, la position de trésorerie de TWG reste serrée avec seulement 13 621 dollars en liquidités et équivalents au 30 juin 2025, bien que la direction estime disposer de liquidités suffisantes pour les douze mois à venir grâce à diverses options de financement.
Top Wealth Group (NASDAQ: TWG), ein Premium-Anbieter von Stör-Kaviar, berichtete über seine ungeprüften Finanzergebnisse für das erste Halbjahr 2025. Das Unternehmen verzeichnete einen Umsatz von 4,2 Millionen USD, ein Rückgang von 5,6 % gegenüber dem Vorjahr, doch hat es seine Ergebnislage deutlich verbessert und erzielte einen Nettogewinn von 2,4 Millionen USD im Vergleich zu einem Nettoverlust von 0,5 Millionen USD in H1 2024.
Das Unternehmen zeigte ein starkes Kostenmanagement und reduzierte die Gesamt kosten und Betriebsausgaben um 64,7 % auf 1,8 Millionen USD. Die Verwaltungskosten sanken deutlich um 88,6 % auf 0,2 Millionen USD. Trotz Gewinn hält TWG eine knappe Liquidität mit nur 13.621 USD in Barmitteln und Äquivalenten zum 30. Juni 2025, obwohl das Management glaubt, dass sie in den nächsten zwölf Monaten durch verschiedene Finanzierungsoptionen ausreichende Liquidität haben werden.
Top Wealth Group (ناسداك: TWG)، مورد كافيار سمك الحظائر الفاخرة، أبلغت عن نتائجها المالية غير المدققة للنصف الأول من 2025. سجلت الشركة إيرادات قدرها 4.2 مليون دولار، بانخفاض قدره 5.6% على أساس سنوي، لكن تحسن بشكل كبير صافي الربح بواقع 2.4 مليون دولار مقارنة بخسارة صافية قدرها 0.5 مليون دولار في النصف الأول من 2024.
أظهرت الشركة إحكاماً في إدارة التكاليف، حيث خفضت إجمالي التكاليف والنفقات التشغيلية بنسبة 64.7% إلى أن تبلغ 1.8 مليون دولار. كما أن مصروفاتها الإدارية انخفضت بشكل ملحوظ بنسبة 88.6% إلى 0.2 مليون دولار. رغم تسجيلها ربحاً، فإن مركز TWG النقدي لا يزال محكماً مع وجود 13,621 دولار أمريكي نقداً ونقداً مكافئاً فقط كما في 30 يونيو 2025، رغم أن الإدارة تعتقد أن لديها سيولة كافية للاثني عشر شهراً المقبلة من خلال خيارات تمويل مختلفة.
Top Wealth Group (NASDAQ: TWG)，一家优质鲟鱼鱼子酱供应商，公布了2025年上半年的未经审计财务业绩。公司实现商业收入420万美元，同比下降5.6%，但净利润显著改善至240万美元，而2024年上半年为净亏损50万美元。
公司展示了出色的成本管理，将总成本和经营费用降至180万美元，降幅64.7%。管理费用显著下降至20万美元，降幅88.6%。尽管实现盈利，TWG的现金状况仍然紧张，截止2025年6月30日仅有13,621美元现金及现金等价物，但管理层相信通过各种融资选项，在未来12个月内具备充足的流动性。
- None.
- Revenue declined 5.6% year-over-year to $4.2M
- Extremely low cash position of only $13,621
- Negative operating cash flow of $28,759
- Loss of sales team in 2024 leading to reduced administrative capacity
Insights
TWG reports impressive profit turnaround despite revenue drop, driven by major cost reductions and business restructuring.
Top Wealth Group's financial results reveal a remarkable transformation in profitability despite slightly lower revenue. While sales decreased
The most notable efficiency gains came from administrative expenses, which fell
However, concerning liquidity indicators exist. Despite the strong profit, TWG reported negative operating cash flow of
Management acknowledges these challenges, citing active management of outstanding receivables and careful operational planning. They also mention potential equity financing if necessary. While the profit turnaround is impressive, the severe liquidity constraints and negative operating cash flow despite profitability warrant close monitoring.
-- First Half Revenue of
-- First Half Net Profits of
HONG KONG, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Top Wealth Group Holding Limited (NASDAQ: TWG) (“Top Wealth” or the “Company”), a company that specializes in supplying premium-class sturgeon caviar, today announced its unaudited financial results for the six months ended June 30, 2025.
First Half 2025 Financial Results
Sales
Sales for the first half 2025 were
Total cost and operating expenses were
- Cost of sales was
$0.8 million in the first half of 2025, a decrease of61.5% from$2.1 million in the same period of 2024. - The decrease in the cost of sales was mainly attributable to the Company’s effective cost management and a streamlined procurement process.
- Selling expenses were
$0.7 million in the first half of 2025, a decrease of8.6% from$0.8 million in the same period of 2024. - Administrative expenses were
$0.2 million in the first half of 2025, a decrease of88.6% from$2.1 million in the same period of 2024. The significant decrease was mainly due to the leaving of the Company’s sales team in 2024.
Profit (and Loss) Before Income Tax
Profit before income tax was
Net Profit (and Loss)
Net Profit was
Earnings (and Loss) per Share
The Company computes earnings (loss) per share (“EPS”) in accordance with ASC 260, “Earnings per Share” (“ASC 260”). Each of the Company’s B Share has voting rights equal to thirty A Shares of the Company. Except for voting rights, A Shares and B Shares rank pari passu with one another and have the same rights, preferences, privileges, and restrictions.
Cash and Cash Equivalents
For the first half of 2025, the Company reported a net profit of
Management is actively managing its outstanding accounts receivable, and carefully planning its operations. The Company may also seek equity financing from outside investors when necessary.
Management believes that the above-mentioned policies and measures will provide sufficient liquidity for the Company to meet its future liquidity and capital requirements for at least the next twelve months.
About Top Wealth Group Holding Limited
Top Wealth Group Holding Limited is a holding company incorporated in the Cayman Islands, and all of its operations are carried out by its operating subsidiary in Hong Kong, Top Wealth Group (International) Limited. The Company specializes in supplying premium-class sturgeon caviar, and its caviar and caviar products are endorsed with the Convention on International Trade in Endangered Species of Wild Fauna and Flora (“CITES”) permits. The Company supplies caviar to its customers under its customer’s brand labels (i.e. private labeling), and the Company also sells the caviar product under the Company’s caviar brand, “Imperial Cristal Caviar”, which has achieved good market recognition since its launch in the market.
Exchange Rate
The Company’s principal place of operations is Hong Kong. The financial position and results of its operation are determined using Hong Kong Dollars (“HK$”), the local currency, as the functional currency. The Company’s consolidated financial statements are reported using U.S. Dollar (“US$” or “$”). The consolidated statements of income and the consolidated statements of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in currencies other than the reporting currency are translated into the reporting currency at the rates of exchange prevailing at the balance sheet date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. As the cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets.
The exchange rates in effect as of June 30, 2025 and June 30, 2024 were US
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in verbal statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of the press release, and the Company undertakes no duty to update such information, except as required under applicable law.
For more information, please contact:
Top Wealth Group Holding Limited
Investor Relations
Email: ir@topwealth.cc
| Top Wealth Group Holding Limited Unaudited interim condensed consolidated balance sheets (Amounts expressed in US dollars (“$”) except for numbers of shares and par value) | ||||||||
| June 30, 2025 | December 31, 2024 | |||||||
| Assets | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 13,621 | $ | 42,380 | ||||
| Accounts receivable | 5,401,899 | 1,563,289 | ||||||
| Prepayments | 940,469 | 1,567,448 | ||||||
| Deposits paid | 605,981 | 605,981 | ||||||
| Total current assets | 6,961,970 | 3,779,098 | ||||||
| Non-current assets | ||||||||
| Property, plant and equipment, net | 72,658 | 72,658 | ||||||
| Prepayment of long term assets | 15,086,533 | 15,888,928 | ||||||
| Deferred tax assets | 44,248 | 44,248 | ||||||
| Total non-current assets | 15,203,439 | 16,005,834 | ||||||
| Total assets | $ | 22,165,409 | $ | 19,784,932 | ||||
| Current liabilities | ||||||||
| Accrued expenses and other payables | 69,959 | 212,593 | ||||||
| Amount due to a related party | 314,259 | 140,564 | ||||||
| Current income tax payable | 760,075 | 811,357 | ||||||
| Total current liabilities | 1,144,293 | 1,164,514 | ||||||
| Commitments and contingencies | ||||||||
| Shareholders’ equity | ||||||||
| Class A ordinary shares, Class B ordinary shares, (Note) | 5,600 | 5,600 | ||||||
| Additional paid-in capital | 16,325,412 | 16,325,412 | ||||||
| Retained earnings | 4,690,104 | 2,289,406 | ||||||
| Total shareholders’ equity | 21,021,116 | 18,620,418 | ||||||
| Total liabilities and equity | $ | 22,165,409 | $ | 19,784,932 | ||||
(Note: All number of shares were retrospectively applied after a 1 for 90 shares consolidation on July 21, 2025, as if the share consolidation was in effect through the earliest period presented)
| Top Wealth Group Holding Limited Unaudited interim condensed consolidated statements of operation and other comprehensive income (Amounts expressed in US dollars (“$”) except for numbers of shares and par value) | ||||||||
| For the six months ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Sales | $ | 4,153,227 | $ | 4,398,690 | ||||
| Cost of sales | (800,000 | ) | (2,076,190 | ) | ||||
| Gross profit | 3,353,227 | 2,322,500 | ||||||
| Other income | - | 88 | ||||||
| Selling expenses | (712,930 | ) | (779,767 | ) | ||||
| Administrative expense | (239,600 | ) | (2,103,855 | ) | ||||
| Proft (loss) before income tax | 2,400,698 | (561,034 | ||||||
| Income tax credit | (92,571 | ) | ||||||
| Proft (loss) and total comprehensive income (loss) for the year | $ | 2,400,698 | $ | (468,463 | ) | |||
| Earnings (loss) per share: | ||||||||
| Ordinary shares, - basic and diluted | $ | 3.86 | $ | (1.51 | ) | |||
| Weighted average shares outstanding used in calculating basic and diluted (loss) earnings per share | ||||||||
| Ordinary shares, - basic and diluted (Note) | 622,250 | 309,229 | ||||||
(Note: All number of shares were retrospectively applied after a 1 for 90 shares consolidation on July 21, 2025, as if the share consolidation was in effect through the earliest period presented)
| Top Wealth Group Holding Limited Unaudited interim condensed consolidated statements of changes in equity (Amounts expressed in US dollars (“$”) except for numbers of shares and par value) | ||||||||||||||||||||
| Common stock outstanding | Amount | Additional paid-in capital | Retained earnings | Total | ||||||||||||||||
| (Note) | ||||||||||||||||||||
| Balance as of January 1, 2024 | 300,000 | $ | 2,700 | $ | 641,015 | $ | 4,308,921 | $ | 4,952,636 | |||||||||||
| Issuance of common stock | 22,222 | 200 | 7,186,915 | – | 7,187,115 | |||||||||||||||
| Loss and total comprehensive loss for the period | – | – | – | (468,463 | ) | (468,463 | ) | |||||||||||||
| Balance as of June 30, 2024 | 322,222 | $ | 2,900 | $ | 7,827,930 | $ | 3,840,458 | $ | 11,671,288 | |||||||||||
| Balance as of January 1, 2025 | 622,222 | $ | 5,600 | $ | 16,325,412 | $ | 2,289,406 | $ | 18,620,418 | |||||||||||
| Profit and total comprehensive income for the period | – | – | – | 2,400,698 | 2,400,698 | |||||||||||||||
| Balance as of June 30, 2025 | 622,222 | $ | 5,600 | $ | 16,325,412 | $ | 4,690,104 | $ | 21,021,116 | |||||||||||
(Note: All number of shares were retrospectively applied after a 1 for 90 shares consolidation on July 21, 2025, as if the share consolidation was in effect through the earliest period presented)
| Top Wealth Group Holding Limited Unaudited interim condensed consolidated statements of cash flows (Amounts expressed in US dollars (“$”) except for numbers of shares and par value) | ||||||||
| For the six months ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| Cash flows from operating activities | ||||||||
| Net (loss) profit | $ | 2,400,698 | $ | (468,463 | ) | |||
| Adjustments for:- | ||||||||
| Depreciation of property, plant and equipment | - | 61,880 | ||||||
| Deferred tax credit | - | (92,571 | ) | |||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable | (3,838,610 | ) | 3,226,416 | |||||
| Inventories | (1,515,865 | ) | ||||||
| Prepayments | 1,429,374 | (7,197,889 | ) | |||||
| Other receivables | - | (717,304 | ) | |||||
| Accrued expenses and other payables | (142,634 | ) | (204,261 | ) | ||||
| Amounts due with related parties | 173,695 | – | ||||||
| Current income tax payable | (51,282 | ) | – | |||||
| Net cash used in operating activities | (28,759 | ) | (6,908,057 | ) | ||||
| Cash flows from financing activities | ||||||||
| Repayment of borrowings | - | (408,424 | ) | |||||
| Proceeds from issuance of shares | - | 7,187,115 | ||||||
| Net cash provided by financing activities | - | 6,778,691 | ||||||
| Net decrease in cash and cash equivalents | (28,759 | ) | (129,366 | ) | ||||
| Cash and cash equivalents at beginning of period | 42,380 | 134,350 | ||||||
| Cash and cash equivalents at end of period | $ | 13,621 | $ | 180,573 | ||||
FAQ
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