Welcome to our dedicated page for TDH Holdings Common Shares news (Ticker: PETZ), a resource for investors and traders seeking the latest updates and insights on TDH Holdings Common Shares stock.
TDH Holdings, Inc. (NASDAQ: PETZ) is a PRC-based company founded in April 2002. Initially engaged in pet food manufacturing and sales, the Company has recently shifted its focus entirely to the restaurant business. TDH operates a restaurant in the United States, reflecting its strategic pivot away from the pet food segment, which was formally discontinued in the first quarter of 2023.
Core Business and Revenue: TDH Holdings now primarily generates its revenue from the restaurant business. For the first half of 2023, the Company reported total revenues of $1.55 million, a 6.96% increase compared to $1.45 million in the same period of the prior year. The revenue growth was mainly driven by the restaurant segment's performance in the United States. As of December 31, 2023, total revenues from continuing operations increased by 2.49% from $3.10 million in fiscal year 2022 to $3.18 million in fiscal year 2023.
Financial Performance: Despite the revenue growth, TDH Holdings faced challenges in managing costs and expenses. For the first half of 2023, the cost of revenues increased by 1.65% to $1.07 million, while the gross profit increased to $0.48 million. Operating expenses, however, saw a significant reduction to $1.38 million, down 46.46% from the previous year. The Company recorded a net income of $0.06 million for the first half of 2023, a notable improvement from a net loss of $0.9 million in the same period of the prior year. As of December 31, 2023, TDH had cash and cash equivalents of $13.66 million.
Strategic Focus and Partnerships: TDH Holdings is keen on expanding its restaurant footprint in the United States. The Company plans to manage and acquire new restaurants to drive growth and maintain its business. The successful execution of these strategies is critical for ensuring sustainable revenue generation and mitigating the risks associated with the industry.
Latest Developments: On September 5, 2023, TDH Holdings announced its Annual General Meeting of shareholders to be held on October 27, 2023, in Beijing. Additionally, the Company reported its financial results for the first half of 2023, highlighting an increase in restaurant revenue and a notable reduction in operating expenses. On April 29, 2024, TDH announced its financial results for the fiscal year ended December 31, 2023, reaffirming its focus on the restaurant business following the discontinuation of its pet food manufacturing segment.
For more information, please visit the Company's website at www.tiandihui.com.
TDH Holdings (NASDAQ: PETZ) reported its first half 2024 financial results, marking a significant business transition. The company discontinued its restaurant operations in Q2 2024 to focus on commercial real estate. Revenues from continuing operations reached $0.10 million, with a gross profit of $0.04 million. Despite an operating loss of $1.08 million, the company reported net income of $1.32 million ($0.13 per share), primarily driven by $2.76 million in investment returns from marketable securities. The company maintained a strong liquidity position with $12.91 million in cash and $12.49 million in short-term investments as of June 30, 2024.
TDH Holdings (NASDAQ: PETZ) has announced its Annual General Meeting (AGM) will take place on October 29, 2024, at 9:30 a.m. Beijing time (October 28, 2024, at 9:30 p.m. EDT). The meeting will be held at Room 1104, 9 East 3rd Ring Middle Road, Chaoyang District, Beijing, China. Shareholders of record as of the close of business on September 19, 2024, will be eligible to vote at the AGM. This announcement provides essential information for PETZ shareholders regarding the upcoming meeting, including the date, time, location, and record date for voting eligibility.
TDH Holdings, Inc., operating a U.S. restaurant, reported a 2.49% revenue increase to $3.18 million in 2023 compared to 2022. Gross profit was $1.03 million, with an operating loss of $6.37 million. Net loss of $23.63 million resulted from a $15.1 million loss due to Tiandihui disposal.
TDH Holdings, Inc. (NASDAQ: PETZ) reported significant growth for the fiscal year 2022, with revenues from continuing operations increasing by 186.63% to $3.10 million from $1.08 million in 2021. This growth was primarily driven by a $3.07 million increase in restaurant revenue, offsetting a 94.59% decline in petfood sales, which dropped to $0.03 million due to rising raw material costs and operational challenges. Gross profit improved to $1.05 million with a gross margin of 33.97%. Notably, net income attributable to common stockholders was $0.80 million compared to a loss of $6.12 million in 2021. Despite a reported operating loss of $3.05 million, the company is focusing on its restaurant segment, having discontinued its petfood manufacturing segment in Q1 2023 due to ongoing challenges.
TDH Holdings, Inc. (NASDAQ: PETZ) reported significant financial results for the six months ended June 30, 2022, with revenues soaring by 980.81% to $1.45 million. The gross profit shifted to $0.4 million from a loss of $0.18 million in the previous year. However, the operating loss widened to $2.29 million compared to $1.17 million in 2021, largely due to increased legal costs and consulting fees. Net loss was $0.9 million, reflecting a marginal improvement in loss per share at $0.14 from $0.37 in 2021.
TDH Holdings, Inc. (NASDAQ: PETZ) will hold its Annual General Meeting (AGM) on October 28, 2022, at 9:00 a.m. Beijing time. Shareholders on record as of September 22, 2022 can participate. The meeting will occur in Beijing, focusing on company plans and shareholder engagement. Founded in 2002, TDH specializes in developing, manufacturing, and selling pet food products across China, Asia, and Europe.
TDH Holdings, Inc. (NASDAQ: PETZ) announced on June 29, 2022, that it has regained compliance with NASDAQ's minimum bid price requirement under Listing Rule 5550(a)(2). This confirmation from NASDAQ signifies the closure of this compliance matter. TDH, based in China, specializes in the development and sales of pet food products across China, Asia, and Europe. The company was founded in April 2002 and operates under various brands in the pet food sector. For further details, visit www.tiandihui.com.
TDH Holdings, Inc. (NASDAQ: PETZ) announced a 1-for-20 reverse stock split effective June 14, 2022. The split aims to help the Company regain compliance with NASDAQ Marketplace Rule 5550(a)(2) and maintain its listing. Post-split, the total shares outstanding will decrease from approximately 126.3 million to about 6.3 million. The authorized shares will also be reduced to 50 million. The Company produces and sells various pet food products in China, Asia, and Europe.
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