Epsium Enterprise Limited Files Annual Report on Form 20-F for Fiscal Year 2025

MACAU, April 29, 2026 /PRNewswire/ -- Epsium Enterprise Limited (Nasdaq: EPSM) (the "Company" or "Epsium"), an importer and wholesaler of premium alcoholic beverages in Macau, today announced that it has filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2025 with the U.S. Securities and Exchange Commission (the "SEC").

The Annual Report, which includes the Company's audited consolidated financial statements prepared in accordance with U.S. GAAP, is available on the SEC's website at www.sec.gov.

Fiscal Year 2025 Overview

For the fiscal year ended December 31, 2025, Epsium reported net revenue of approximately $5.1 million, compared to $12.5 million in the prior year. The decline primarily reflected softer demand in Macau's wholesale market for lower-priced alcoholic beverages following a period of post-pandemic normalization, as well as increased price competition and more cautious consumer spending.

Gross profit was $753,769 for the year, compared to $1.6 million in 2024. Gross margin improved to 14.7% from 12.8% in the prior year, reflecting the initial impact of the Company's ongoing product mix adjustment toward higher-margin premium products distributed through casino and hotel channels.

Total operating expenses were approximately $2.2 million, compared to $1.2 million in 2024. The increase was primarily driven by higher general and administrative expenses associated with operating as a public company following the Company's Nasdaq listing in March 2025, as well as an inventory impairment charge recorded during the year.

Net loss for fiscal year 2025 was approximately $(1.5) million, compared to net income of $284,694 in 2024.

Balance Sheet and Liquidity

As of December 31, 2025, the Company reported cash and cash equivalents of approximately $2.0 million, compared to $0.1 million at the end of 2024. The increase was primarily supported by proceeds from the Company's initial public offering, partially offset by cash used in operating activities and offering-related expenses.

Working capital was approximately $11.3 million as of year-end 2025, compared to $8.1 million in the prior year, reflecting an overall strengthening of the Company's balance sheet.

Business Update

Epsium conducts substantially all of its operations through its Macau subsidiary, Companhia de Comércio Luz Limitada ("Luz"), which is engaged in the import and wholesale distribution of premium alcoholic beverages, including Chinese liquor, cognac, whisky, wine, and champagne.

Chinese liquor remains the Company's largest revenue contributor. At the same time, the Company has been adjusting its product mix and distribution strategy, with increased focus on higher-margin channels such as casinos and hotels. These channels typically involve sales formats such as consignment, promotional programs, and customer reward-based distribution, which management believes may offer relatively stronger margin profiles compared to the broader wholesale market.

The Company has also been working to diversify its product portfolio beyond its historically concentrated categories, as part of its broader effort to adapt to evolving market demand and competitive dynamics.

Initial Public Offering

On March 27, 2025, the Company completed its initial public offering of 1,250,000 Class A ordinary shares at a public offering price of $4.00 per share. The shares began trading on the Nasdaq Capital Market on March 26, 2025 under the ticker symbol "EPSM."

The Company received aggregate gross proceeds of approximately $5.0 million from the offering, before deducting underwriting discounts and offering-related expenses.

Management Commentary

"Fiscal year 2025 marked an important milestone for Epsium as we completed our Nasdaq listing and strengthened our capital base," said Mr. Son I Tam, Chairman, Chief Executive Officer and Founder of Epsium Enterprise Limited. "While our revenue reflected a more challenging market environment in the wholesale segment, we continued to advance our efforts to optimize our product mix and expand our presence in higher-margin channels such as casinos and hotels. We believe these initiatives position the Company to better navigate market conditions and support our long-term development."

About EPSIUM ENTERPRISE LIMITED

Through its Macau operating entity, Companhia de Comércio Luz Limitada ("Luz"), a limited liability company established under the laws of Macau in 2010, EPSIUM is engaged in the import and wholesale distribution of primarily alcoholic beverages in Macau.

Through Luz, the Company offers a broad portfolio of premium beverage products, consisting mainly of alcoholic beverages and, to a lesser extent, tea and fruit juice. Its product offerings include Chinese liquor, French cognac, Scotch whisky, fine wine, Champagne, and other beverage alcohol.

Chinese liquor represents the Company's most significant product category, and the Company is a top wholesaler of high-end Chinese liquor in the Macau market.

For more information, please visit the Company's website at www.epsium-group.com.

Forward-Looking Statements

This press release contains forward-looking statements. These statements are based on the Company's current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Forward-looking statements can be identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "will," "would," "should," "could," "may," or similar expressions. These forward-looking statements include, but are not limited to, statements regarding the Company's business strategy, operations, financial performance, product mix adjustments, channel expansion, and growth initiatives. Actual results may differ materially due to a number of factors, including, but not limited to, changes in market conditions, consumer demand, competitive dynamics, supply chain conditions, regulatory developments, and other risks described in the "Risk Factors" section of the Company's Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission (the "SEC"). The Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, except as required by applicable law. Additional information is available in the Company's filings with the SEC at www.sec.gov.

For more information, please contact:

EPSIUM ENTERPRISE LIMITED

Investor Relations Department

Email: [email protected]

SOURCE Epsium Enterprise Limited