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TWG

Top Wealth Group Holding Limited Ordinary Shares

TWG

Top Wealth Group Holding Limited Ordinary Shares • NASDAQ
$5.64 ▲ 7.84% (+0.41)
Market Cap $229.40 M
52w High $28.08
52w Low $4.25
Dividend Yield 0%
P/E -1.05
Volume 36.12K
Outstanding Shares 40.67M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2024 $348.89K ▼ $138.296K ▼ $-1.551M ▼ -444.568% ▼ $-0.32 ▲ $-1.458M ▼
Q2-2024 $4.399M ▼ $2.884M ▲ $-468.464K ▼ -10.65% ▼ $-1.52 ▼ $-499.242K ▼
Q4-2023 $9.977M ▲ $1.39M ▲ $978.798K ▼ 9.811% ▼ $0.036 ▼ $1.342M ▼
Q2-2023 $6.966M ▲ $952.518K ▼ $1.459M ▲ 20.948% ▲ $0.054 ▼ $1.937M ▲
Q4-2022 $4.82M $1.015M $966.824K 20.057% $0.26 $1.292M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2024 $42.38K ▲ $19.785M ▲ $1.165M ▼ $18.62M ▲
Q2-2024 $4.984K ▼ $13.422M ▲ $1.751M ▼ $11.671M ▲
Q4-2023 $134.35K ▼ $7.349M ▲ $2.396M ▲ $4.953M ▲
Q2-2023 $180.573K ▼ $5.947M ▲ $1.976M ▲ $3.971M ▲
Q4-2022 $217.384K $3.432M $920.317K $2.512M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2024 $-199.18K ▼ $997.459K ▲ $-2.04M ▼ $1.048M ▲ $4.817K ▲ $997.46K ▲
Q2-2024 $-59.912K ▼ $-883.483K ▼ $0 $866.938K ▲ $638.369 ▲ $-883.48K ▼
Q4-2023 $978.798K ▼ $-232.132K ▲ $0 $185.908K ▼ $-23.112K ▼ $-232.132K ▲
Q2-2023 $1.459M ▲ $-631.484K ▼ $0 ▲ $594.674K ▲ $-18.405K ▲ $-631.484K ▼
Q4-2022 $966.824K $-97.832K $-29.732K $-64.102K $-95.833K $-127.564K

Five-Year Company Overview

Income Statement

Income Statement TWG’s income statement looks more like that of a very small, early‑stage or shell company than a mature food distributor. Reported revenue over the past few years has been close to zero, and core profit measures are essentially flat, suggesting that the operating business is still tiny and not yet scaled. Earnings per share have swung sharply from year to year, but that appears driven more by accounting and share-structure effects than by any real change in an underlying, sizable business. Overall, the historical income profile tells a story of a company with minimal commercial activity so far and a future that depends much more on planned strategic moves than on its existing operations.

Balance Sheet

Balance Sheet The balance sheet is extremely small, with only a modest base of assets and no meaningful debt reported. That means the company is not burdened by leverage, which lowers financial risk, but it also highlights how limited its current resource base is. Equity appears to fund nearly everything, which is typical of a micro‑scale or SPAC‑style vehicle that has not yet built out a large operating footprint. Any ambitious growth—especially beyond caviar—will likely require additional capital, partners, or injected assets, rather than relying on what is already on the balance sheet.

Cash Flow

Cash Flow Cash flow data show essentially no meaningful inflows or outflows from operations, investing, or capital spending. This reinforces the view that TWG has not yet been running a substantial, cash‑generating business. There is no visible pattern of reinvestment or expansion in the historical numbers, and no track record yet of turning revenue into sustainable free cash flow. Future cash dynamics will likely be driven almost entirely by the new business direction and any asset injection, rather than by the legacy caviar operations alone.

Competitive Edge

Competitive Edge In its current form, TWG occupies a narrow luxury niche: branded caviar with an emphasis on quality, provenance, and exclusivity. Its key advantage is an exclusive long‑term supply agreement with a major sturgeon farm in China, backed by proper international trade certifications. This gives TWG reliable access to product and creates a barrier for would‑be competitors using the same source. The company further differentiates through premium branding, aged caviar offerings, multi‑country sourcing, and private‑label services. However, its very small scale and limited financial history mean that, in practical terms, its bargaining power and brand strength are still emerging, and its competitive position could change significantly if the animal‑health pivot becomes the core business.

Innovation and R&D

Innovation and R&D TWG does not appear to compete on cutting‑edge technology or heavy R&D spending in its caviar activities. Its “innovation” is more about traditional craftsmanship, rigorous supply‑chain control, and regulatory compliance than about new processing techniques. The truly transformative element is strategic rather than technical: a plan to pivot into pet and livestock pharmaceutical, food, and supplement products in partnership with a large Chinese pharma group. That move, if completed, would effectively inject a new, more R&D‑driven business into TWG and change its innovation profile overnight. Until the transaction structure, integration plan, and product roadmap are clearer, the scale and reliability of this innovation shift remain uncertain.

Summary

TWG today looks less like a conventional, scaled food distributor and more like a micro‑cap platform in the middle of a major transition. Historically, it has had minimal revenue, a tiny balance sheet, no real cash‑flow track record, and a niche position in luxury caviar built on exclusive sourcing and careful branding. The real story now is forward‑looking: a proposed move into animal health and pet‑related pharmaceuticals and nutrition via an asset injection from a larger group. If that goes ahead, it would effectively redefine TWG’s size, risk profile, and competitive landscape. Until then, the company’s fundamentals are very small, its future heavily dependent on successful deal execution and integration, and its prospects characterized by both meaningful opportunity and high uncertainty.

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