Investing.com
Published Apr 27, 2024 01:44
BETHESDA, MD – HWH International Inc. (NASDAQ:HWH), a lifestyle company, has announced the formation of a new joint venture, HapiTravel Holding Pte. Ltd., as part of its strategy to expand its travel business in Asia. The partnership includes HWH International's subsidiary, Health Wealth Happiness Pte Ltd. (HWHPL), and two individuals with significant industry experience.
The joint venture will see HWHPL owning a 19% stake, while Mr. Chan Heng Fai Ambrose, HWH's Executive Chairman, will hold an 11% share. The majority stake of 70% will be held by Mr. Chen Ziping, a seasoned entrepreneur in the travel sector, particularly within China. This strategic alliance is intended to grow the company’s market presence by exploring new geographic areas and niche segments in the hospitality industry.
HWH International, through its various business units, focuses on creating opportunities for health, wealth, and happiness. Its offerings include the HWH Marketplace, Hapi Cafe, Travel, and Hapi Wealth Builder, aiming to provide pathways for people to achieve these goals.
The formation of this joint venture is a significant step for HWH International in its pursuit of expanding its travel business operations in Asia. By leveraging the expertise of Mr. Chen and the leadership of Mr. Chan, the company aims to tap into new markets and offer differentiated travel experiences.
The announcement is based on a press release statement from HWH International.
As HWH International Inc. (NASDAQ:HWH) embarks on its strategic expansion in Asia with the formation of HapiTravel Holding Pte. Ltd., investors may find the following real-time data and InvestingPro Tips insightful. The company's market capitalization stands at a modest $21.41 million, reflecting its position in the market. Despite recent initiatives, the company's revenue has seen a decline of nearly 31% over the last twelve months as of Q1 2023. However, it's worth noting that there has been a quarterly revenue growth of 9.53% in Q1 2023, indicating some positive momentum in the short term.
Investors should be aware that HWH International has experienced significant volatility in its stock price, with a notable 25.76% return over the last week and an impressive 74.74% return over the last month. Nonetheless, the stock has taken a substantial hit over the last six months, with a total return of -84.19%. This high price volatility is a critical factor for those considering an investment in HWH.
Moreover, the company holds more cash than debt on its balance sheet, an InvestingPro Tip that suggests a degree of financial stability. However, another InvestingPro Tip to consider is that the stock price often moves in the opposite direction of the market, which could indicate its non-correlation with broader market trends.
For investors looking to delve deeper into the financials and future prospects of HWH International, there are additional InvestingPro Tips available. By visiting https://www.investing.com/pro/HWH, investors can access a wealth of information to inform their investment decisions. And for those ready to take the next step, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. InvestingPro currently has more than 10 additional tips that could provide further clarity on whether HWH International is a suitable addition to an investment portfolio.
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Written By: Investing.com
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