TDH Holdings Inc (PETZ) stock gained 8.33% in the normal trading session on Monday, April 26, 2021, to close at $2.47 per share but it lost 8.91% in the after-hours on Monday.
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PETZ shares have surged142.16% over the last 12 months, and they have moved down by 8.86% in the past week. Over the past three months, the stock has gained 17.62%, while over the past six months, it has added 59.35%.
Let’s see what’s happening with PETZ.
Financial results
On April 26, 2021, TDH Holdings, Inc reported its financial results for the twelve months ended December 31, 2020.
FY 2020 financial Highlights
- Total revenues were $0.82 million in 2020 from $12.65 million in 2019.
- The cost of revenues was $0.86 million for the year 2020 compared to $14.17 million for 2019.
- For the year 2020, the gross loss was $0.04 million compared to the gross profit of $1.52 million for 2019.
- General and administrative expenses were $1.77 million for FY 2020 compared to $3.70 million for 2019.
- Selling expenses were $0.12 million for 2020 compared to $0.92 million for 2019.
- TDH Holdings suffered an operating loss of $1.93 million for 2020 compared to an operating loss of $6.96 million for 2019.
- Net loss was $0.87 million or loss per share of $0.02 for the year 2020, compared to a net loss of $8.63 million or loss per share of $0.41 for 2019.
- As of December 31, 2020, the Company had cash, cash equivalents, and restricted cash of $6.75 million, compared to $6.50 million on December 31, 2019.
About the company
TDH Holdings Inc was founded in April 2002, and it is a developer, manufacturer, and distributor of a variety of pet food products under multiple brands that are sold in China, Asia, and Europe.
Recent developments
- In 2017, Tiandihui Company was successfully listed in the United States.
- In 2016 it formally established a cooperative relationship with China Agricultural University.
- In 2015 The fourth factory of Tiandihu, Pude Factory was formally established.
- In 2014 The third factory of Tiandihui-Haiqing Factory was formally established
Conclusion
The financial results announcement was the reason behind its loss on Monday and we can expect it to decline further because there is a huge decrease in revenue compared to the previous financial year.