Top KingWin Ltd.

General Information

Top KingWin offers financial advisory and other services to entrepreneurs and executives involved with small and medium-sized enterprises (SMEs) in China.  (Incorporated in the  Cayman Islands)

We provide a number of important business services in China to young and emerging companies, including (i) corporate business training services, which mainly focus on advanced knowledge and new perspectives on the capital markets, (ii) corporate consulting services, which mainly focus on various aspects of fundraising, and (iii) advisory and transaction services. Our main clients are entrepreneurs and executives in small and medium enterprises (“SMEs”) in China.

During the nine months that ended Sept. 30, 2022, corporate business training constituted approximately 7 percent of our business, while corporate consulting constituted 23 percent, and advisory and transaction services constituted approximately 70% of our business.

Supported by the rapid economic growth and friendly business policies in China, the number of SMEs in China has significantly increased from 2016 to 2021. According to Frost & Sullivan, an independent market research firm, from 2016 to 2021, the number of SMEs in China increased from 13.9 million to 26.8 million with a compound annual growth rate (“CAGR”) of 14.0%. Frost & Sullivan expects the number of SMEs in China will steadily increase at 9.8% CAGR from 2021 to 2026. We believe that the increasing number of SMEs provide a solid foundation for the future development of our business.

With the increase in the number of companies entering the China market, most industries in China are becoming more competitive. Therefore founders, senior management teams and key employees of companies have an increasing awareness for professional business education in order to enhance their professional knowledge, boost their company’s strategic growth and allow the company to stay competitive in today’s economy.

China’s economy is shifting from traditional real estate investment and manufacturing to new economy industries such as internet-driven or technology-driven industries. Currently, the new economy industry has been a vital driving force in the growth of the economy in China. According to Frost & Sullivan, from 2016 to 2021, the market size of new economy industries by revenue in China experienced significant growth with 28.2% CAGR, which was much higher than the synchronized growth rate of 8.9% in China’s nominal GDP, attaining $4.0 trillion (RMB25.2 trillion) by the end of 2021. We believe that the rapid growth of new economy industries benefits the development of our business. Our mission is to provide comprehensive services to address client needs throughout all phases of their development and growth.

**Note: Revenue and net income figures are in U.S. dollars for the 12 months that ended Sept. 30, 2022.

(Top KingWin Ltd. downsized its micro-cap IPO at pricing on April 17, 2023, to 2.75 million shares – down from 3.0 million in the prospectus – and priced the IPO at $4.00 – the low end of its $4.00-to-$5.00 range – to raise $11.0 million. The IPO raised $2.5 million less than the estimated IPO proceeds of $13.5 million, which had assumed pricing at the $4.50 mid-point on 3.0 million shares. Background: Top KingWin Ltd. filed its F-1 on Jan. 18, 2023, in which it disclosed terms for its IPO: 3.0 million shares at a price range of $4.00 to $5.00 to raise $13.5 million. The company submitted its confidential IPO documents to the SEC on Aug. 26, 2022.) 

Employees: 40
Founded: 2018
Contact Information
Address Room 1304, Building No. 25, Tian’an Headquarters Center, No. 555 North Panyu Avenue, Donghuan Street Panyu District, Guangzhou, Guangdong Province, PRC Zip: 511400
Phone Number +86 400 661 3113
Web Address
View Prospectus: Top KingWin Ltd.
Financial Information
Market Cap $66.5mil
Revenues $5.8 mil (last 12 months)
Net Income $0.99 mil (last 12 months)
IPO Profile
Symbol TCJH
Exchange NASDAQ
Shares (millions): 2.8
Price range $4.00 - $4.00
Est. $ Volume $11.0 mil
Manager / Joint Managers Univest Securities
Expected To Trade: 4/18/2023
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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