TDH Holdings Inc
tiandihui.comWhat Do They Do?
Leases commercial space to business tenants and provides them with property management services.
20-F for FY2025, filed Apr 20, 2026
How Do They Make Money?
Commercial tenants pay rent and property-management fees over the lease term; some lease payments are collected before the rental period begins.
20-F for FY2025, filed Apr 20, 2026Lease revenue represents the fixed rental fees charged to subtenants for the right to use the leased properties. This revenue is recognized…View ↗
Property management fee revenue represents fees charged to subtenants for property management services, including tenant coordination…View ↗
Contract liabilities are presented as deferred lease revenue on the consolidated balance sheets, which represents advance lease payments…View ↗
$1.3M
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20-F for FY2025, filed Apr 20, 2026
$1.3M ↗
Who Are Their Customers?
The company rents commercial space directly to tenants and attracts them through word-of-mouth referrals, staff marketing and online advertising.
20-F for FY2025, filed Apr 20, 2026The Company recognizes lease revenue under ASC 842, Leases, and all the lease contracts are operating leases. The Company has elected to…View ↗
We obtain new customers and tenants by word-of-mouth referrals and have found that satisfied tenants are loyal tenants. In addition, we…View ↗
In addition to our own marketing department, we use numerous platforms to advertise and promote our business, including radio, media and…View ↗
Do Revenues Turn Into Profits?
Yes. Its net income in FY2025 was larger than its revenue, but spent more cash than it brought in: free cash flow was −$2M.
20-F for FY2025, filed Apr 20, 2026
−$1.8MView ↗
20-F for FY2025, filed Apr 20, 2026
$1.8MView ↗
20-F for FY2025, filed Apr 20, 2026
−$2MView ↗
How Are They Changing?
Growing. Revenue grew 16% in 4 years, from $1.1M in FY2021 to $1.3M in FY2025, about 4% a year.
From restaurants to property leasing
The older report said the company would focus on its restaurant segment after discontinuing petfood manufacturing. The latest describes commercial real estate leasing and property management.
20-F for FY2022, filed Apr 25, 2023 20-F for FY2025, filed Apr 20, 2026
Who Do They Compete With?
Competes with Dobe Group and Shanghai Golden Union Business Management
20-F for FY2025, filed Apr 20, 2026The commercial retail real estate management industry in China is dynamic and competitive. We face significant competition in our market…View ↗
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