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.
On February 23, 2022, TDH Holdings, Inc. (NASDAQ: PETZ) received a notification from Nasdaq stating that its common stock no longer meets the minimum bid price requirement of $1.00 per share, effective for the last 30 consecutive business days. The Company has until August 22, 2022, to meet this requirement by closing at or above $1.00 for 10 consecutive days. If compliance is not achieved, TDH may pursue additional time or consider options like a reverse stock split. The Company cautions that there is no guarantee it will regain compliance.
TDH Holdings, Inc. (NASDAQ: PETZ) reported a significant decline in financial performance for the first half of 2021. Revenues fell by 52.46% to $0.13 million, impacted by uncompetitive pricing and the suspension of overseas E-commerce activities. The company faced a gross loss of $0.18 million and an operating loss of $1.17 million, marking a 20.23% increase in operating losses compared to the previous year. Net loss attributable to common stockholders was $0.94 million, leading to a loss per share of $0.02.
TDH Holdings, Inc. (NASDAQ: PETZ) announced it successfully closed a registered direct offering, raising approximately $9.9 million through the sale of 15,000,000 common shares at $0.64 per share. In addition, it issued warrants at $0.01 per warrant for an aggregate of 30,000,000 common shares, exercisable at $1.47 per share. The net proceeds will be utilized for strategic acquisitions, although no specific agreements are currently in place. Boustead Securities, LLC acted as the exclusive placement agent for the offering.
TDH Holdings, Inc. (NASDAQ: PETZ) has postponed its Annual General Meeting (AGM) to December 28, 2021, at 9:00 a.m. Beijing time. Shareholders eligible to vote are those recorded by September 15, 2021. The meeting will take place in Beijing, and previously submitted proxies will remain valid. Shareholders who have not yet voted are encouraged to participate before the AGM. The voting window will close at 11:59 p.m. EST on December 26, 2021.
TDH Holdings, Inc. (NASDAQ: PETZ) announced the closing of a registered direct offering, raising approximately $9.1 million from the sale of 10 million common shares priced at $0.89 each, along with warrants. These warrants allow the purchase of 20 million common shares at $2.06 each. The company aims to use the net proceeds for strategic acquisitions and investments, although no specific commitments are in place currently. This offering was conducted under the company's effective shelf registration statement.
TDH Holdings, Inc. (NASDAQ: PETZ) announced a registered direct placement of $9.1 million in common shares and warrants at $0.89 per share. The offering includes 10 million common shares and warrants for an aggregate of 20 million shares, exercisable at $2.16 per share. Funds will be allocated for strategic acquisitions, although no specific deals are lined up. Closing is expected on or about September 30, 2021. This offering follows the Company's effective shelf registration with the SEC.
TDH Holdings, Inc. (NASDAQ: PETZ) has announced its Annual General Meeting (AGM) scheduled for October 28, 2021, at 9:00 a.m. Beijing time. Shareholders of record by September 15, 2021 will be eligible to vote. The meeting will take place at Room 3303, Beijing. Founded in April 2002, TDH specializes in developing, manufacturing, and distributing pet food products across China, Asia, and Europe. The company cautions that statements regarding the meeting are forward-looking and subject to risks and uncertainties.
TDH Holdings, Inc. (NASDAQ: PETZ) reported a dramatic drop in annual revenues for 2020, totaling $0.82 million, down 93.55% from $12.65 million in 2019. The gross loss improved to $0.04 million from $1.52 million, primarily due to halted unprofitable orders. Operating loss reduced by 72.32% to $1.93 million. Despite these losses, net loss attributable to common stockholders fell to $0.87 million, or a loss of $0.02 per share, from $8.63 million, or $0.41 per share, in 2019. The company cited uncompetitive pricing, operational suspensions, and COVID-19 disruptions as key challenges.
TDH Holdings, Inc. (NASDAQ: PETZ) reported financial results for the first half of 2020, revealing a sharp decline in revenue, down 96.5% to $0.28 million, compared to $8.04 million in 2019. The gross loss was $0.07 million, with a gross margin of -25%. However, the net loss attributable to shareholders decreased to $0.6 million, compared to $1.67 million in the previous year, leading to a reduced loss per share of $0.01. The company faced challenges due to COVID-19, temporarily closing facilities, impacting sales across domestic and overseas markets.
TDH Holdings, Inc. (NASDAQ: PETZ) reported significant financial challenges for the year ended December 31, 2019. Revenues plummeted by 46.6% to $12.65 million from $23.67 million in 2018, primarily due to decreased sales orders and the suspension of overseas e-commerce operations. The gross loss improved to $1.52 million from $4.05 million. Though total operating expenses fell, the company posted a net loss of $8.63 million or $0.41 per share, down from a loss of $14.22 million in 2018. The outlook remains uncertain due to operational disruptions from COVID-19.
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