Core Viewpoint - TDH Holdings, Inc. reported significant financial improvements for the fiscal year 2024, primarily driven by a strategic shift towards commercial real estate management after discontinuing its restaurant and pet food segments [1][4][24]. Financial Performance - Revenues from continuing operations increased by approximately 74,665% from $0 million in fiscal year 2023 to $0.56 million in fiscal year 2024, attributed to the focus on commercial real estate property management [2][4][10]. - Gross profit from continuing operations was $0.24 million in fiscal year 2024, compared to a gross loss of $0 million in fiscal year 2023, resulting in a gross margin of 42.29% [8][10]. - Operating loss decreased to $1.83 million in fiscal year 2024 from $6.19 million in fiscal year 2023, with the operating loss margin improving significantly [3][15]. Revenue Breakdown - The commercial real estate business generated $0.566 million in revenue, fully replacing the discontinued pet food and restaurant segments [6][10]. - The company expects continued growth in revenue from the commercial real estate management business in the near future [4][10]. Cost Structure - Cost of revenues from continuing operations increased by $0.32 million or approximately 33,230% in fiscal year 2024, primarily due to the new focus on commercial real estate [7]. - Operating expenses decreased by $4.11 million, or 66.52%, from $6.19 million in fiscal year 2023 to $2.07 million in fiscal year 2024, reflecting cost control measures [11][13]. Net Income and Earnings - Net income attributable to common stockholders was $2.68 million, or earnings per share of $0.26, for fiscal year 2024, compared to a net loss of $23.63 million, or loss per share of $2.29, for fiscal year 2023 [16][30]. - The increase in net income was driven by higher revenues from the commercial real estate segment, decreased operating expenses, and increased investment income [16][30]. Financial Condition - As of December 31, 2024, the company had cash and cash equivalents of $15.70 million, an increase from $13.13 million in the previous year [17][22]. - Working capital improved to approximately $24.60 million as of December 31, 2024, compared to $23.83 million in 2023 [17][23]. Strategic Developments - The company discontinued its restaurant business segment in the second quarter of 2024 to focus on commercial real estate management, which is expected to provide stable revenue from rental income and property appreciation [24][20]. - The pivot to commercial real estate management is seen as beneficial for shareholders due to the high costs associated with the restaurant segment [24].