- TROOPS, Inc. reported **revenues of $7.62 million** for the six months ended June 30, 2025, marking a **192.1% increase** from $2.61 million in the same period of 2024.  **[1412095_0001104659-25-100427_tm2525869d1_ex99-1.htm:0]** 
- The company's **net loss decreased to $0.97 million** for the six months ended June 30, 2025, an improvement from a net loss of $1.36 million in the prior year period.  **[1412095_0001104659-25-100427_tm2525869d1_ex99-1.htm:1]** 
- **Consultancy services for insurance products** was the primary revenue driver, contributing **$5.40 million** for the six months ended June 30, 2025.  **[1412095_0001104659-25-100427_tm2525869d1_ex99-1.htm:0]** 
- **Cost of revenues increased by 239.7% to $6.49 million** for the six months ended June 30, 2025, up from $1.91 million for the six months ended June 30, 2024.  **[1412095_0001104659-25-100427_tm2525869d1_ex99-1.htm:0]**

TROOPS, Inc. Announces Unaudited Interim Financial Results for Six Months Ended June 30, 2025

- **TROOPS, Inc.**'s wholly-owned subsidiary, Giant Connection Limited, entered into a Sale and Purchase Agreement on **October 6, 2025**, to acquire a **19.9% stake** in HK Golden, Inc.  **[1412095_0001104659-25-098712_tm2528296d1_6k.htm:0]** **[1412095_0001104659-25-098712_tm2528296d1_ex99-1.htm:0]** **[1412095_0001104659-25-098712_tm2528296d1_ex99-1.htm:2]** 
- The acquisition involves **2,835,750 ordinary shares** of HK Golden, Inc. for an aggregate consideration of **HK$70,000,000**.  **[1412095_0001104659-25-098712_tm2528296d1_6k.htm:0]** **[1412095_0001104659-25-098712_tm2528296d1_ex99-1.htm:0]** **[1412095_0001104659-25-098712_tm2528296d1_ex99-1.htm:2]** **[1412095_0001104659-25-098712_tm2528296d1_ex99-1.htm:3]** 
- HK Golden, Inc. primarily provides **digital marketing services** and operates **HKGolden.com**, an online social forum and networking platform in Hong Kong.  **[1412095_0001104659-25-098712_tm2528296d1_6k.htm:0]** **[1412095_0001104659-25-098712_tm2528296d1_ex99-1.htm:0]** 
- The **Target Completion Date** for this agreement is **November 30, 2025**.  **[1412095_0001104659-25-098712_tm2528296d1_6k.htm:0]** **[1412095_0001104659-25-098712_tm2528296d1_ex99-1.htm:2]**

TROOPS Subsidiary Acquires Stake in HK Golden, Inc.

- On **August 20, 2025**, TROOPS, Inc. received a winding up petition filed by Real Estate and Finance Fund (in Liquidation) with the Grand Court of the Cayman Islands, alleging the Company's **insolvency** due to an inability to pay its debts.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]** 
- This petition arises from a **June 23, 2025**, judgment by the High Court of Hong Kong, which ordered TROOPS, Inc. and its subsidiaries, SGOCO International (HK) Limited and Giant Connection Limited, to be jointly and severally liable for **HKD 163,400,000**.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]** 
- Additionally, the judgment held TROOPS, Inc. and SGOCO International (HK) Limited jointly and severally liable for an further **HKD 241,400,000**.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]** 
- A hearing for the winding up petition is scheduled for **October 9, 2025**.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]** 
- TROOPS, Inc. is exploring legal avenues, including applications for appeal and stay of execution, to protect the interests of its shareholders.  **[1412095_0001104659-25-084341_tm2524623d1_6k.htm:1]**

Troops, Inc. /Cayman Islands/ (TROO)