Tdh Hldgs Stock Price, News & Analysis

TDH Holdings, Inc. (NASDAQ: PETZ) is a PRC-based company that focuses on owning, operating and managing commercial real estate properties. According to multiple company press releases and SEC filings, TDH was founded in April 2002 and has undergone a significant transformation in its business lines over time. While earlier disclosures describe activities in pet food manufacturing and restaurant operations, recent reports state that the company’s continuing operations are centered on commercial real estate property management and leasing.

Business evolution and core operations

TDH’s historical disclosures show a phased shift in its revenue sources. In earlier years, the company developed, manufactured and sold pet food products and also operated a restaurant business in the United States. A press release on full year 2022 results notes that revenues from continuing operations came from both pet food and restaurant activities, with pet food sales declining sharply while restaurant revenue increased.

By the first quarter of 2023, TDH had discontinued its pet food manufacturing segment, as described in its 2023 financial results. The company stated that this decision was driven by rising raw material costs, reduced and less profitable orders, decreased demand for pet food, and the bankruptcy and disposal of its remaining pet food production subsidiary. Subsequent disclosures indicate that revenue in 2023 was substantially generated from the restaurant business.

In June 2024, TDH discontinued its restaurant business segment and began to focus on owning, operating and managing commercial real estate properties. Press releases for the first half and full year 2024 explain that the commercial real estate property management business became the primary source of revenue from continuing operations. The company describes its activities as managing commercial real estate properties and generating revenue from that business line.

Commercial real estate focus

Recent financial results and the company’s “About TDH Holdings, Inc.” sections describe TDH as a PRC-based owner, operator and manager of commercial real estate properties. In its full year 2024 results, TDH states that it now focuses on the management of commercial real estate and that its revenue from continuing operations is primarily from commercial real estate property management. The first half 2025 press release further characterizes TDH as a PRC-based company that is an owner, operator and manager of commercial real estate properties.

In the first half of 2025, the company reported that revenue growth from continuing operations was mainly attributable to increased market demand for commercial real estate and to attracting tenants to its commercial real estate property leasing business. The same disclosure notes that TDH provides personalized leasing solutions that consider the characteristics of enterprises in different industries and of different scales, with the aim of improving tenant satisfaction and loyalty. Cost of revenues from continuing operations is described as consisting primarily of lease and occupancy costs, depreciation and amortization costs, and agency service costs associated with the leasing business.

Geographic and regulatory context

TDH identifies itself in press releases as a PRC-based company. SEC filings on Form 6-K list the registrant’s principal executive office as being c/o Beijing Wenxin Co., Ltd. in Beijing, People’s Republic of China. Earlier press releases regarding the restaurant business refer to operations in the United States, while more recent disclosures emphasize commercial real estate activities and financial reporting tied to properties managed by the company.

The company’s ordinary shares trade on Nasdaq under the ticker symbol PETZ. Past disclosures also reference a one-for-twenty reverse stock split that was implemented to regain compliance with Nasdaq’s minimum bid price requirement, and subsequent filings indicate that TDH continues to file annual reports under cover of Form 20-F and current reports on Form 6-K.

Segment changes and discontinued operations

TDH’s public reports outline several major segment changes:

• Pet food manufacturing discontinued: The company states that it discontinued its pet food manufacturing segment in the first quarter of 2023. Reasons cited include increased raw material costs, reduced and less profitable orders, decreased demand for pet food, operational challenges, and the bankruptcy and disposal of its pet food subsidiary.
• Restaurant business discontinued: In the second quarter of 2024, TDH discontinued its restaurant business segment. The company explains that recurring losses from the restaurant business since 2023 and high costs led it to redirect focus and resources toward the commercial real estate business.
• Commercial real estate as continuing business: Following these discontinuations, TDH reports that its continuing operations are based on commercial real estate property management and leasing. Revenues from continuing operations in 2024 and 2025 are described as coming from this business line.

Financial reporting themes

Across its recent press releases, TDH discusses revenue from continuing operations, cost of revenues, gross profit and margin, operating expenses, and net income or loss. For the commercial real estate business, cost of revenues is described as including lease and occupancy costs, depreciation and amortization, and agency service costs. Operating expenses are broken into selling expenses and general and administrative expenses, with commentary on changes in these categories over time.

The company also reports investment income from short-term investments in equity securities of publicly listed companies, accounted for under ASC 321 and measured at fair value with changes recognized in earnings. Several disclosures highlight that changes in fair value of these investments contributed to total other income and affected net income figures.

Corporate governance and shareholder meetings

TDH files Form 6-K reports related to its annual shareholder meetings. Filings for 2023, 2024 and 2025 describe the scheduling of annual general meetings of shareholders in Beijing and the record dates for voting eligibility. A Form 6-K dated October 30, 2025 provides final voting results for the 2025 annual shareholder meeting, including the election of Class B directors and the ratification of the company’s independent registered public accounting firm.

Company status

Based on the provided SEC filings and press releases, TDH Holdings, Inc. continues to report financial results, hold annual shareholder meetings, and file current reports on Form 6-K under the Exchange Act. There is no indication in the supplied materials of a completed merger, acquisition, bankruptcy filing for the parent company, or a delisting from Nasdaq. The company describes itself as a going concern while also discussing risks and uncertainties related to its operations and liquidity in its financial disclosures.

Investor considerations

For investors researching PETZ stock, the company’s disclosures emphasize its transition from pet food and restaurant operations to commercial real estate property management and leasing. The press releases and financial statements discuss how this shift affects revenue composition, cost structure, and profitability. They also describe the role of investment income from marketable securities, the impact of discontinued operations, and management’s assessment of liquidity and going concern considerations.