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Aureus Greenway Holdings Inc. (AGH-4.60%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations, which include the management and operation of two public golf country clubs in Florida. These clubs encompass over 289 acres and offer various amenities including golf courses, clubhouses, and pro shops.
Revenue for the year totaled $3,298,361, a decrease from $3,554,712 in the previous year. This decrease was primarily attributed to a reduction in one-time green fees and associated sales of food, beverage, and merchandise.
Operating costs increased to $3,480,393 from $3,301,554, driven by higher golf operating costs and salaries. The company reported a net loss of $183,700, compared to a net income of $386,128 in the prior year.
The company completed its initial public offering (IPO) on February 13, 2025, raising approximately $10.6 million in net proceeds.
Aureus Greenway's business strategy focuses on attracting and retaining customers, enhancing facilities, and expanding through acquisitions.
The company faces risks including severe weather impacts, economic downturns, and competition from other leisure activities. It also relies on a small number of suppliers for operations.
Aureus Greenway's financial position includes $457,142 in cash and cash equivalents, with total assets of $5,211,893 and liabilities of $4,142,429 as of December 31, 2024.
The company is subject to various regulations, including those related to labor, environmental protection, and food and beverage sales.
Aureus Greenway's management team includes CEO ChiPing Cheung and CFO Sam Wai Sing Lui, with a board of directors overseeing corporate governance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Aureus Greenway Holdings Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.