Top Wealth Group Holding Ltd. has reported a significant decrease in its revenue for the fiscal year ending December 31, 2024. The company's revenue declined by $12.2 million, or 72%, from $16.9 million in 2023 to $4.7 million in 2024. This drop in revenue is primarily attributed to the resignation of the sales team, who were dissatisfied with the remuneration package following the company's IPO. The revenue from caviar fell from $12.5 million in 2023 to $4.7 million in 2024, marking a decrease of $7.7 million or 62%. Additionally, revenue from wine, which contributed $4.5 million in 2023, was completely absent in 2024. The company is currently focused on its ability to enter into supply agreements with new potential suppliers, maintain relationships with existing suppliers at competitive prices, raise additional funds for operations, and enhance operational efficiency. These factors are considered crucial for the company's future performance.
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