Overview

Triller Group Inc. is a leading one-stop financial supermarket based in Hong Kong, serving over 400,000 individual and corporate customers. The company operates four major business areas:

1. Distribution Business: The largest financial advisor business in the market, engaging in personal financial advisory services including life insurance, savings, and mortgages.

2. Platform Business: A “financial supermarket” offering over 1,800 financial products to retail and corporate customers.

3. Healthcare Business: A 4% stake in and strategic partnership with HCMPS, one of the largest healthcare management organizations in Hong Kong and Macau.

4. Fintech Business: An ensemble of leading fintech assets and businesses in Europe and Hong Kong, providing financial gains and knowledge transfers.

Nasdaq Listing Extension

Triller Group received delisting determination letters from Nasdaq due to non-compliance with filing requirements. After a hearing, Nasdaq granted the company an exception period to continue its listing, subject to certain conditions.

Distribution Business

The Distribution Business is Triller Group’s largest segment, comprising a variety of captive financial services distribution channels. The company’s financial advisors business, “Focus”, is the clear market leader in the insurance brokerage industry in Hong Kong. Triller Group has also established additional distribution channels, such as salaried financial planners and digital platforms, to expand its reach.

Platform Business

The Platform Business operates as a “financial supermarket”, offering a wide range of financial products and services through its “OnePlatform” brand. It serves banks, financial institutions, family offices, brokers, and independent financial advisors.

Fintech Business

Triller Group has built an ensemble of valuable fintech assets, including investments in Tandem Money Limited, CurrencyFair Limited, Oscar Health Inc., and Goxip Inc.

Healthcare Business

Triller Group holds a 4% equity stake in HCMPS, one of the leading healthcare management organizations in Hong Kong and Macau, with a network of over 700 healthcare service providers.

Results of Operations

Triller Group’s total revenue decreased by 58.81% in the three months ended June 30, 2025, compared to the same period in 2024, primarily due to a 60.42% decrease in the Distribution Business revenue. Operating expenses also decreased by 36.36% during this period, mainly due to lower commission expenses and sales and marketing expenses.

The company’s net loss decreased by 27.10% in the three months ended June 30, 2025, compared to the same period in 2024, primarily due to the decrease in operating expenses and an increase in other income.

Liquidity and Capital Resources

Triller Group has a history of operating losses and negative cash flow. As of September 30, 2024, the company had a cash balance of $5.1 million and $13.7 million in restricted cash. The company’s management believes that the currently available cash will not be able to provide sufficient funds to meet the planned obligations for the next 12 months.

The company’s ability to continue as a going concern is dependent on its ability to successfully implement its plans, including growing the revenue base and controlling expenditures. Triller Group is exploring various debt and equity financing options to fund its operations and growth strategy.

Outlook

Triller Group is focused on transforming its healthcare business, HCMPS, into the best medical care institution in Asia by 2025, leveraging technology and data analytics to improve customer experience and market share. The company will also continue to invest in developing and expanding its financial advisor salesforce, broadening its product range, and upgrading its supporting infrastructure to capitalize on the emerging opportunities in the life insurance, wealth management, and healthcare industries.