10:56 AM EDT, 07/17/2025 (MT Newswires) -- Top Wealth Group ( TWG ) said Thursday it has entered into a memorandum of understanding with Jilin Xiuzheng Agriculture and Animal Husbandry Technology for a proposed injection of animal-related pharmaceutical products, food and supplements business.

The company said Jilin Xiuzheng proposed to inject the business in exchange for new shares comprising majority control and voting power of Top Wealth ( TWG ).

Jilin Xiuzheng's management team will manage the injected business, while Top Wealth's ( TWG ) existing management team will continue to manage its existing caviar business, the company said.

Top Wealth ( TWG ) said that during the MOU's effective period, it will conduct due diligence and valuation on the subject business and will aim to sign an agreement related to the asset injection.

In another statement Thursday, Top Wealth ( TWG ) said it will implement a 1-for-90 share consolidation of the class A and B ordinary shares, starting with the opening bell on Monday.

The company said its class A ordinary shares will trade on a post-share consolidation basis on the Nasdaq Capital Market under the same ticker, "TWG."

Top Wealth ( TWG ) said the share consolidation aims to enable it to regain compliance with Nasdaq's minimum bid price rule for continued listing on the exchange.

Shares of Top Wealth ( TWG ) fell more than 6% in recent trading Thursday.

Price: 0.13, Change: -0.01, Percent Change: -6.40