TWG

-- First Half Revenue of $4.2 million, decrease 5.6% year-over-year -- -- First Half Net Profits of $2.4 million, versus Net Loss of $0.5 million last year -- 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 $4.2 million, representing a decrease of 5.6% from $4.4 million in the same period of 2024. During the period we have rebuilt our wine distribution business. Total cost and operating expenses were $1.8 million in the first half of 2025, a decrease of 64.7% from $5.0 million in the same period of 2024. Cost of sales was $0.8 million in the first half of 2025, a decrease of 61.5% 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 of 8.6% from $0.8 million in the same period of 2024. Administrative expenses were $0.2 million in the first half of 2025, a decrease of 88.6% 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 $2.4 million for the first half of 2025, compared with the Loss before income tax of $0.6 million in the same period of 2024. The increase in profit before income tax was mainly due to the Company efforts in cost management and rebuilding of its wine distribution business. Net Profit (and Loss) Net Profit was $2.4 million, compared with a net loss of $0.5 million in the same period of 2024, which was mainly due to the factors mentioned above. 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 Comp...