UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

Form 6-K/A

 

REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of January 2025

 

TOP KINGWIN LTD

(Exact name of registrant as specified in its charter)

  

Room 1304, Building No. 25, Tian’an Headquarters Center, No. 555

North Panyu Avenue, Donghuan Street

Panyu District, Guangzhou, Guangdong Province, PRC
Zip: 511400

(Address of Principal Executive Office)

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F ☒      Form 40-F ☐

 

 

 

 

 

 

EXPLANATORY NOTE

 

This amendment to the Form 6-K (“Form 6-K/A”) is being filed to amend the Form 6-K initially filed by Top KingWin Ltd (the “Company”) with the Securities and Exchange Commission on September 30, 2024 (the “Original Form 6-K”). The Company is furnishing this Form 6-K/A to supplement its six-month unaudited interim consolidated financial statements with pertinent financial footnotes. Except as set forth in the foregoing, the Original Form 6-K is unchanged.

 

Financial Statements and Exhibits.

 

Exhibit No.   Description
99.1   Unaudited Interim Consolidated Financial Statements as of June 30, 2024 and for the Six Months Ended June 30, 2024 and 2023
101.INS*   Inline XBRL Instance Document
101.SCH*   Inline XBRL Taxonomy Extension Schema Document
101.CAL*   Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*   Inline XBRL Taxonomy Extension Label Linkbase Document
101.LAB*   Inline XBRL Taxonomy Extension Presentation Linkbase Document
101.PRE*   Inline XBRL Taxonomy Extension Definition Linkbase Document
104*   Cover Page Interactive Data File formatted as Inline XBRL and contained in Exhibit 101

 

1

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  Top KingWin Ltd
     
Date: January 21, 2025 By: /s/ Ruilin Xu
    Ruilin Xu
    Chief Executive Officer

 

2

Exhibit 99.1

 

The financial statements for the first half year ended June 30, 2024 of Top KingWin Ltd (the “Company”, “we” or “us”) included herein have not been audited by the Company’s independent registered accounting firm.

 

TOP KINGWIN LTD
UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2024
AND DECEMBER 31, 2023
(In USD)

  

   June 30,
2024		   December 31,
2023		 
ASSETS          
CURRENT ASSETS          
Cash  $3,098,787   $4,618,670 
Restricted cash   
-
    30,310 
Accounts receivable, net   297,161    504,472 
Prepayments   51,394    203,126 
Due from related parties   472,180    1,119,099 
Other receivables   234,559    137,691 
Total current assets   4,154,081    6,613,368 
           
NON-CURRENT ASSETS          
Property and equipment, net   170,972    213,891 
Intangible assets, net   71,425    46,365 
Operating lease right-of-use assets   246,923    353,471 
Goodwill   2,973,850    2,973,850 
Other non-current assets   28,541    36,164 
Total non-current assets   3,491,711    3,623,741 
           
TOTAL ASSETS  $7,645,792   $10,237,109 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
           
CURRENT LIABILITIES          
Accounts payable   334,718    497,484 
Accounts payable - related party   9,977    146,903 
Operating lease liabilities - current   197,982    192,159 
Advance from clients   479,327    626,851 
Due to related parties   163,814    213,789 
Taxes payable   10,776    64,120 
Accruals and other payables   952,442    928,965 
Total current liabilities   2,149,036    2,670,271 
           
Operating lease liabilities - non-current   52,797    161,886 
Total non-current liabilities   52,797    161,886 
           
TOTAL LIABILITIES  $2,201,833   $2,832,157 
           
COMMITMENTS AND CONTINGENCIES   
 
    
 
 
           
SHAREHOLDERS’ EQUITY          
Class A ordinary shares, $0.0001 par value, 300,000,000 shares authorized, 10,963,040 and 13,963,040 shares issued and outstanding as of December 31, 2023 and June 30, 2024*  $1,396   $1,096 
Class B ordinary shares, $0.0001 par value, 200,000,000 shares authorized, 3,786,960 shares issued and outstanding as of December 31, 2023 and June 30, 2024   379    379 
Additional paid-in capital   10,016,212    8,275,034 
Statutory reserve   282,545    282,545 
(Accumulated deficits) Retained earnings   (4,589,136)   (928,311)
Accumulated other comprehensive loss   (267,437)   (225,791)
Total shareholders’ equity   5,443,959    7,404,952 
           
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY  $7,645,792   $10,237,109 

 

* Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023

 

 

 

TOP KINGWIN LTD
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF (LOSS) INCOME AND
COMPREHENSIVE (LOSS) INCOME FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023
(In USD)

 

   Six Months Ended 
   June 30, 
   2024   2023 
         
REVENUES   1,351,121    2,814,664 
           
COST OF REVENUES   (981,389)   (746,661)
           
GROSS PROFIT   369,732    2,068,003 
           
OPERATING EXPENSES          
Selling expenses   (611,938)   (1,203,472)
General and administrative expenses   (3,444,910)   (1,877,461)
Total operating expenses   (4,056,848)   (3,080,933)
           
LOSS FROM OPERATIONS   (3,687,116)   (1,012,930)
           
OTHER INCOME (EXPENSE), NET          
Other income   122,261    58,524 
Other expense   (35,129)   (6,638)
Total other income, net   87,132    51,886 
           
NET LOSS BEFORE INCOME TAXES   (3,599,984)   (961,044)
           
Income tax expense   (60,841)   (117,629)
           
NET LOSS  $(3,660,825)  $(1,078,673)
           
Other comprehensive loss          
Foreign currency translation loss   (41,646)   (65,734)
           
TOTAL COMPREHENSIVE LOSS  $(3,702,471)  $(1,144,407)
           
Basic and diluted loss per share*  $(0.21)  $(0.08)
           
Weighted average number of common shares outstanding - basic and diluted*   17,750,000    13,115,278 

 

* Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023

 

2

 

TOP KINGWIN LTD

UNAUDITED INTERIM CONDENSED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2024 AND 2023

(In USD)

 

   Six Months Ended 
   June 30, 
   2024   2023 
Cash flows from operating activities        
Net loss  $(3,660,825)  $(1,078,673)
Adjustments to reconcile net income to cash (used in) operating activities:          
Provision (reverse) for doubtful accounts   (14,357)   114,462 
Depreciation and amortization   48,661    144,947 
Non-cash operating lease expenses   106,548    
-
 
Share-based compensation expenses   1,773,600    
-
 
Foreign exchange gain   (42,850)   
-
 
Deferred tax expenses   
-
    118,159 
Changes in assets and liabilities          
Accounts receivable   238,212    (761,458)
Other receivables   (96,868)   (68,925)
Prepayments   151,732    (366,835)
Accounts receivable - related party   
-
    (379,248)
Due from related parties   (234,387)   
-
 
Other non-current assets   7,623    1,971 
Accounts payable   (162,766)   257,028 
Accruals and other payables   23,477    1,026,012 
Advance from clients   (147,524)   423,795 
Taxes payable   (53,344)   43,880 
Operating lease liabilities   (103,266)   (102,504)
Net cash used in operating activities   (2,166,334)   (627,389)
Cash flows from investing activities          
Purchase of property and equipment   (5,690)   13,284 
Purchase of intangible assets   (29,761)   (4,028,815)
Net cash used in investing activities   (35,451)   (4,015,531)
           
Cash flows from financing activities          
IPO proceeds net of deferred offering cost   
-
    8,047,056 
Due from related parties   881,306    
-
 
Due to related parties   (186,901)   (1,099,907)
Net cash provided by financing activities   694,405    6,947,149 
           
Effect of exchange rates on cash   (42,813)   (65,734)
           
Net increase (decrease) in cash and restricted cash   (1,550,193)   2,238,495 
           
Cash and restricted cash at beginning of period   4,648,980    2,654,185 
           
Cash and restricted cash at end of period  $3,098,787   $4,892,680 
           
Cash at end of period  $3,098,787   $4,892,680 
Restricted cash at end of period   
-
    
-
 
Cash and restricted cash at end of period  $3,098,787   $4,892,680 
Supplemental disclosure information          
Cash paid for interest expenses  $
-
   $
-
 
Cash paid for income tax  $420   $
-
 
Supplemental disclosure of non-cash financing activities:          
Operating lease asset obtained in exchange for operating lease obligation  $
-
   $103,499 

 

3

 

TOP KINGWIN LTD

Notes to the Condensed Interim Consolidated Financial Statements

Unaudited - Expressed in United States Dollars

For the six months ended June 30, 2024 and 2023

 

1.General information and basis of presentation

 

General information

 

Top KingWin Ltd and its consolidated subsidiaries (collectively referred to as the “Group” or the “Company”) primarily provide three main corporate services, including corporate business training, corporate consulting, advisory and transaction services to its clients in the People’s Republic of China (the “PRC”).

 

Top KingWin Ltd (Referred as “KingWin”) is a holding company incorporated in Cayman Island on February 16, 2022 under the laws of the Cayman Islands. The Company has no substantial operations other than holding all of the outstanding share capital of Sky Kingwin Ltd (Referred as “KingWin BVI”) established under the laws of the British Virgin Islands on March 15, 2022. KingWin BVI is also a holding company holding all of the outstanding equity of SKY KINGWIN (HK) LIMITED (Referred as “KingWin HK”) which was incorporated in Hong Kong on April 19, 2022. KingWin HK is a holding company holding all of the outstanding equity of Guangdong Tiancheng Jinhui Enterprise Development Co., Ltd. (Referred as “Tiancheng Jinhui”) which was established on October 25, 2018 under the law of the PRC.

 

Basis of Presentation

 

The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”).

 

The accompanying unaudited interim condensed consolidated balance sheet as of June 30, 2024, the unaudited interim condensed consolidated statements of (loss) income and comprehensive (loss) income and cash flows for the six months ended June 30, 2024 and 2023, and the related footnote disclosures are unaudited. These unaudited interim condensed consolidated financial statements of the Company are prepared in accordance with U.S. GAAP for interim financial statements using accounting policies that are consistent with those used in the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2023. These unaudited interim condensed consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited interim condensed consolidated financial statements contain all normal recurring adjustments necessary to present fairly the consolidated financial position, operating results and cash flows of the Company for each of the periods presented. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2023.

 

2.Revenue recognition

 

The Company’s revenues are recognized when persuasive evidence of an arrangement exists, service has occurred, and all performance obligations have been performed pursuant to the terms of the agreement, the sales price is fixed or determinable and collectability is reasonably assured. The Company revenue agreements generally do not include a right of return in relation to the delivered products or services. Depending on the terms of the agreement and the laws that apply to the agreement, service obligations may be delivered over time or at a point in time. Control of the services is transferred over time if the Company’s performance:

 

  - provides all of the benefits received and consumed simultaneously by the client;
     
  - creates and enhances an asset that the client controls as the Company performs; or
     
  - does not create an asset with an alternative use to the Company and the Company has an enforceable right to payment for performance complete to date.

 

4

 

If control of services transfers over time, revenue is recognized over the period of the agreement by reference to progress toward complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the client obtains control of the services.

 

The Company currently generates its revenue from the following table presents revenues by service categories for the six months ended June 30, 2024 and 2023, respectively:

 

   For the Six Months Ended June 30, 
   2024   2023 
Service Category  $   % of
revenues		   $   % of
revenues		 
Advisory and transaction services   146,515    10.8%   1,256,894    44.7%
Corporate business training services   454,357    33.6%   1,483,471    52.7%
Corporate consulting services   654,398    48.4%   74,299    2.6%
Others   95,851    7.1%   
-
    
-
%
Total revenues   1,351,121    100%   2,814,664    100%

 

Timing of revenue recognition

 

   For the six months ended
June 30,		 
   2024   2023 
Point in Time   1,351,121    2,814,664 
Over Time   
-
    
-
 
Total Revenue   1,351,121    2,814,664 

 

The major customers which individually contributed more than 10% of total revenue of the Group for the six months ended June 30, 2024 and 2023 are listed as below:

 

   For the six months ended
June 30,		 
   2024   2023 
Customer A   
-
    19%
Customer B   
-
    12%
Customer C   
-
    11%

 

3.Expenses by nature

 

   For the six months ended
June 30,		 
   2024   2023 
Cost of revenue (Note 3 (i))   981,389    746,661 
Payroll and employee benefits (Note 3 (ii))   2,923,687    1,270,038 
Depreciation and amortization (Note 3 (iii))   48,661    144,947 
Professional services fee   702,628    811,843 
Provision (reverse) for credit loss   (14,357)   114,462 
Office and other expenses   396,229    739,643 
Total cost of revenue, administrative expenses and selling expenses   5,038,237    3,827,594 

 

 

   For the Six Months Ended
June 30,		 
i) Service Category  2024   2023 
Advisory and transaction services   
-
    
-
 
Corporate business training services   257,121    674,499 
Corporate consulting services   724,268    72,162 
Others   
-
    
-
 

 

5

 

   For the Six Months Ended
June 30, 2024 and 2023		 
ii) Payroll and employee benefits:  2024   2023 
Payroll and employee benefits incurred and classified as selling and administration expenses:        
Salaries, allowances, bonus, benefits and in kind   1,150,087    1,270,038 
Contributions to defined contribution retirement plan   
-
    
-
 
Share based payments   1,773,600    
-
 
           
Payroll and employee benefits incurred and classified as cost of revenue   230,241    285,087 

 

   For the Six Months Ended
June 30, 2024 and 2023		 
iii) Depreciation and amortization：  2024   2023 
Property and equipment   43,960    13,129 
Intangible assets   4,701    26,656 
Right of use assets   106,548    105,162 

 

4.Loss per share

 

(a) Basic loss per ordinary share

 

The calculation of basic loss per ordinary share is based on the loss attributable to ordinary equity shareholders of the Company divided by the weighted average number of ordinary shares outstanding.

 

(b) Diluted loss per ordinary share

 

Diluted loss per ordinary share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all potential dilutive ordinary shares.

 

There was no difference between basic and diluted loss per ordinary share during the six months ended June 30, 2024 and 2023.

 

The following table sets forth the basic and diluted net loss per share computation and provides a reconciliation of the numerator and denominator for the six months ended June 30, 2024 and 2023 presented:

 

   As of June 30, 
   2024   2023 
Numerator:        
Net loss attributable to Top KingWin’s shareholders   (3,660,825)   (1,078,673)
Denominator:   ​    ​ 
Weighted average number of ordinary shares outstanding-basic and diluted*   17,750,000    13,115,278 
Denominator for basic and diluted net loss per share calculation   17,750,000    13,115,278 
Basic and diluted net loss per share attributable to ordinary shareholders of Top KingWin’s shareholders   (0.21)   (0.08)

 

5.Property, equipment and intangible assets

 

During the six months ended June 30, 2024, the Group incurred capital expenditure on property, equipment and intangible assets with a cost of $ 35,451 (six months ended June 30, 2023: $ 4,015,531).

 

For the six-month ended June 30, 2024 and 2023, no impairment losses were recognized with respect to property, equipment, and intangible assets.

 

6

 

6.Business combination and goodwill

 

In December 2023, Sky KingWin Ltd (referred to as “Buyer”) entered into an agreement with Future Scope Advisors LTD, Visionary Strategies LTD, Mr. Zhiliang Hu and Ms. Li Qian . This agreement allowed the Buyer to acquire 100% equity interest in Industrial Insights Consulting LTD. The Seller, consisting of Future Scope Advisors LTD (referred to as “Seller 1”), Visionary Strategies LTD (referred to as “Seller 2”), Zhiliang Hu (referred to as “Seller 3”), and Li Qian (referred to as “Seller 4”), collectively owned shares in Industry Insights Consulting LTD. Therefore, through the agreement with Industry Insights Consulting LTD, Sky KingWin Ltd obtained complete ownership of Industrial Insights Consulting LTD. The total cash transfer consideration of the transaction was $4,000,000.

 

The acquisition of the 100 % equity interest in Industrial Insights Consulting LTD. was completed on December 20 2023 and was accounted for as a business combination using the purchase method of accounting. The purchase price allocation of the transaction was determined by the Company with the assistance of an independent appraisal firm based on the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date. The most significant variables in the valuation are discount rate, terminal value, the number of years on which to base the cash flow projections, as well as the assumptions and estimates used to determine the cash inflows and outflows.

 

The purchase price allocation to assets acquired and liabilities assumed as of the date of acquisition was as follows:

 

   Amounts 
Cash acquired  $28,320 
Accounts receivable, net   97,271 
Prepayments   10,095 
Other receivables, net   1,128,868 
Property and equipment, net   4,906 
Intangible assets, net   7,796 
Accounts payable   (120,591)
Advance from clients   (1,822)
Accrued expenses and other payables   (128,693)
Goodwill   2,973,850 
Total consideration  $4,000,000 

 

The impairment loss of goodwill for the six months ended June 30, 2024 was nil.

 

7.Share-based payments

 

The Corporation’s 2024 Equity Incentive Plan was formally adopted on February 22, 2024, with the objectives of fostering long-term corporate success, attracting and retaining high-caliber personnel, and aligning the interests of employees with those of the shareholders. The Plan encompasses a variety of equity grant options. In April 2024, under this scheme, a total of 3,000,000 Class A Ordinary Shares were granted to 11 employees and vested immediately and the exercise price was $0.5911 per share on May 1, 2024. The expense recognized for share-based compensation for the six-month period concluding on June 30, 2024, amounted to USD 1,773,300. Detailed information regarding the issuance and vesting of common shares is provided below:

 

8.Equities Roll forward Schedule

 

   Class A
ordinary shares		   Class B
ordinary shares		   Additional paid-in   Statutory   (Accumulated deficits)   Accumulated other  comprehensive   Total shareholders’ 
   Shares*   Amount   Shares*   Amount   capital   reserve   earnings   income (loss)   equity 
                                     
Balance, December 31, 2023  $10,963,040   $1,096    3,786,960   $379   $8,275,034   $282,545   $(928,311)  $(225,791)  $7,404,952 
                                              
Net loss                                 (3,660,825)        (3,660,825)
Share-based payments   3,000,000    300              1,741,178                   1,741,478 
Foreign currency translation adjustment                                      (41,646)   (41,646)
Balance, December 31, 2024  $13,963,040   $1,396    3,786,960   $379   $10,016,212   $282,545   $(4,589,136)  $(267,437)  $5,443,959 

 

7

 

9.Material related party transactions

 

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. The related parties that had transactions or balances with the Company for the six months ended June 30, 2023 and 2024 consisted of:

 

Name of Related Parties   Relationship with the Company
Guangzhou Tiancheng Capital Management Group Co., Ltd. (“Tiancheng Capital”)   The former shareholder of Tiancheng Jinhui from June 18, 2020 to June 30, 2022. And as of December 31, 2023, Mr. Ruilin Xu still holds 48.62% equity interest in Guangzhou Tiancheng Capital Management Group Co., Ltd. (“Tiancheng Capital”). The Company provided advisory and transaction services for Tiancheng Capital.
Mr. Ruilin Xu   The Company’s Chief Executive Officer and director, paid certain professional fees or salaries on behalf of the company.
Mr. Siqi Cao   The Company’s director, paid certain professional fees on behalf of the Company.
Shenzhen CIC Consulting Co., Ltd.   Mr. Zhiliang Hu holds 30% equity interest in Shenzhen Zhongtou Business Consulting Co., Ltd.
Shenzhen Zhongtou Shunshi Investment Management Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Shunshi Investment Management Co.,Ltd.
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.,Ltd.   Both Mr. Zhiliang Hu and Ms. Xiaohuang Hong each hold a 50% equity interest in Shenzhen Zhongtou Big Data Technology Co., Ltd. Additionally, Ms. Xiaohuang Hong holds a 50% equity interest in Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co., Ltd.
Shenzhen Zhongtou Industrial Planning & Consulting Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Industrial Planning & Consulting Co.
 Shenzhen Zhongtou Big Data Technology Co.,Ltd.   Both Mr. Zhiliang Hu and Ms. Xiaohuang Hong each hold a 50% equity interest in Shenzhen Zhongtou Big Data Technology Co., Ltd.
Ms. Li Qian   Ms. Li Qian is the spouse of Mr. Zhiliang Hu.
Shenzhen Zhongtou Industrial Treasure Network Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Industrial Treasure Network Co.
Mr. Zhiliang Hu   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Shunshi Investment Management Co., Ltd.
Infinity worldwide holding.,Ltd.   Infinity worldwide holding., Ltd is the shareholders of the company and holds 2.847% interest rights.
Shaanxi Tiancheng Jinhui Investment Co., Ltd. (Formally known as “Shaanxi Tiancheng Enterprise Management Consulting Co., Ltd.”)   Shaanxi Tiancheng Jinhui Investment Co., Ltd. is one of the Company’s suppliers, and Tiancheng Capital holds 52% equity interest in the party until December 8, 2021.
Guangzhou Tianyi Technology Co., Ltd. (Formally known as “Tiancheng New Retail Investment Holding (Guangdong) Co., Ltd.”)   Guangzhou Tianyi Technology Co., Ltd. is one of the Company’s suppliers, and Tiancheng Capital holds 51% equity interest in the party since March 3, 2020.
Shenzhen Investment Consulting Co., Ltd.   As of September 13, 2024, Mr. Zhiliang Hu hold 30% equity interest in Shenzhen Investment Consulting Co., Ltd.
Mr. Guangyuan Wei   As of November 5, 2024, Mr. Guangyuan Wei is the CEO and Chairman of Chongqing Tiancheng Jinhui Enterprise Management Consulting Co., Ltd.
Mr. Hongqing Zhang   Mr. Hongqing Zhang is the supervisors of Guangdong Tiancheng Jinhui Enterprise Development Group Co., Ltd.

 

Key management personnel compensation

 

   As of
June 30,		   As of
June 30,		 
   2024   2023 
Short-term employment benefits (excluding discretionary bonus)   134,885    134,652 
Discretionary bonus   3,004    10,474 
Share based payments   1,773,600    
-
 

 

Except for the above, there is no other transactions between with the company and its related parties for the six months ended June 30, 2024 and 2023.

 

8

 

Balances with related parties

 

   June 30,   December 31, 
   2024   2023 
Accounts payable-related party        
Guangzhou Tiancheng Capital Management Group Co., Ltd.  $9,977   $146,903 
   $9,977   $146,903 
           
Due from related parties          
Shenzhen CIC Consulting Co., Ltd.  $
-
   $502,314 
Shenzhen Zhongtou Shunshi Investment Management Co.   131,252    357,967 
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.   16,788    29,958 
Shenzhen Zhongtou Industrial Planning & Consulting Co.   45,809    101,692 
Shenzhen Zhongtou Big Data Technology Co.   16,334    25,606 
Mr. Guangyuan Wei   1,238    
-
 
Ms. Li Qian   
-
    12,253 
Mr. Zhiliang Hu   
-
    2,336 
Shenzhen Investment Consulting Co., Ltd.   218,953    
-
 
Shenzhen Zhongtou Industrial Treasure Network Co.   40,538    86,973 
Mr. Hongqing Zhang   1,268    
-
 
   $472,180   $1,119,099 
           
Due to related parties          
Mr. Ruilin Xu (the Company’s Chief Executive Officer)  $29,035   $29,719 
Infinity worldwide holding ltd   120,674    120,674 
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.   
-
    2,817 
Shenzhen Zhongtou Industrial Planning & Consulting Co.   
-
    10,578 
Shenzhen Zhongtou Industrial Treasure Network Co.   
-
    25,775 
Ms. Li Qian   
-
    24,226 
Mr. Zhiliang Hu   14,105    
-
 
   $163,814   $213,789 

 

10.Subsequent Event 

 

On September 5, 2024, the Company entered into a securities purchase agreement with 25 investors (the “Purchasers”), pursuant to which the Company agreed to sell up to $38,000,000 of Class A ordinary shares, par value $0.0001 each (the “Class A Ordinary Shares”), at a per share purchase price of $0.23 (the “Offering”). Upon satisfying all closing conditions, the Offering was consummated on September 10, 2024. The Company issued a total of 165,217,391 restricted Class A Ordinary Shares to the Purchasers. Upon closing of the Offering and as of the date of this report, there are 179,180,431 Class A Ordinary Shares issued and outstanding and 3,786,960 Class B ordinary shares, par value $0.0001 each, issued and outstanding.

 

The Company plans to use the proceeds from this Offering to launch its AI powered IT solution business. The Company, through its subsidiary in China, plan to purchase servers and chips, leveraging its supply chain advantages, customize such hardware by installing AI-powered system and software solutions, and ultimately offer such integrated solutions to clients in the intelligent manufacturing, urban construction, and healthcare industries.

 

On November 25, 2024, the Company entered into a securities purchase agreement with a selling shareholder (the “Selling Shareholder”). Following the fulfillment of all closing conditions, the Company issued a convertible note to the Selling Shareholder on November 26, 2024, in the original principal amount of $2,500,000 (the “Convertible Note”). The Convertible Note carries an annual interest rate of 11.75%, subject to periodic adjustments in accordance with its terms. The entire principal and any accrued interest on the Convertible Note will be due and payable twelve months after its issuance. The Selling Shareholder, however, has the option to extend the maturity for an additional twenty-four months, subject to mutual agreement. The Convertible Note includes an original issue discount of 10%. The Company is prohibited from prepaying any portion of the outstanding principal, accrued interest, or any unpaid late charges, if applicable. At any time after issuance, the Convertible Note may be converted into validly issued, fully paid, and non-assessable Class A Ordinary Shares in accordance with its terms and conditions. In the event of a Default, as defined in the Convertible Note, the Selling Shareholder may require the Company to redeem all or part of the Convertible Note by providing written notice.

 

On December 30, 2024, Sky KingWin Ltd (“Sky KingWin”), a wholly-owned subsidiary of the Company, entered into certain share purchase agreement (the “Asset Disposition SPA”) with Industry Insights Consulting LTD (the “Target”), a wholly-owned subsidiary of Sky KingWin, and Bosera Asset Management Co., Ltd., a New York company. The Purchaser agreed to purchase the Target in exchange for cash consideration of USD 480,000 (the “Purchase Price”), the payment of which was due by January 15, 2025.

 

On January 14, 2025, Sky KingWin and Bosera Asset Management Co., Ltd entered into a supplemental agreement to the Asset Disposition SPA (the “Supplemental Agreement”) and stipulated that the payment date for the Purchase Price is extended until March 31, 2025 (the “Extended Payment Date”). If the Purchase Price is not fully paid by the Extended Payment Date, a penalty of 1% will be applied to the remaining unpaid balance for each day the Purchase Price is delayed. All other terms of the SPA remain unchanged.

 

9

 

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v3.24.4
Document And Entity Information
 6 Months Ended
Jun. 30, 2024
Document Information Line Items  
Entity Central Index Key 0001938865
Document Type 6-K/A
Entity Registrant Name TOP KINGWIN LTD
Amendment Description This amendment to the Form 6-K (“Form 6-K/A”) is being filed to amend the Form 6-K initially filed by Top KingWin Ltd (the “Company”) with the Securities and Exchange Commission on September 30, 2024 (the “Original Form 6-K”). The Company is furnishing this Form 6-K/A to supplement its six-month unaudited interim consolidated financial statements with pertinent financial footnotes. Except as set forth in the foregoing, the Original Form 6-K is unchanged.
Amendment Flag true
Document Period End Date Jun. 30, 2024
Document Fiscal Year Focus 2024
Document Fiscal Period Focus Q2
Current Fiscal Year End Date --12-31
v3.24.4
Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2024
Dec. 31, 2023
CURRENT ASSETS    
Cash $ 3,098,787 $ 4,618,670
Restricted cash 30,310
Accounts receivable, net 297,161 504,472
Prepayments 51,394 203,126
Other receivables 234,559 137,691
Total current assets 4,154,081 6,613,368
NON-CURRENT ASSETS    
Property and equipment, net 170,972 213,891
Intangible assets, net 71,425 46,365
Operating lease right-of-use assets 246,923 353,471
Goodwill 2,973,850 2,973,850
Other non-current assets 28,541 36,164
Total non-current assets 3,491,711 3,623,741
TOTAL ASSETS 7,645,792 10,237,109
CURRENT LIABILITIES    
Accounts payable 334,718 497,484
Accounts payable - related party 9,977 146,903
Operating lease liabilities - current 197,982 192,159
Advance from clients 479,327 626,851
Taxes payable 10,776 64,120
Accruals and other payables 952,442 928,965
Total current liabilities 2,149,036 2,670,271
Operating lease liabilities - non-current 52,797 161,886
Total non-current liabilities 52,797 161,886
TOTAL LIABILITIES 2,201,833 2,832,157
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY    
Additional paid-in capital 10,016,212 8,275,034
Statutory reserve 282,545 282,545
(Accumulated deficits) Retained earnings (4,589,136) (928,311)
Accumulated other comprehensive loss (267,437) (225,791)
Total shareholders’ equity 5,443,959 7,404,952
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 7,645,792 10,237,109
Related Party    
CURRENT ASSETS    
Due from related parties 472,180 1,119,099
CURRENT LIABILITIES    
Due to related parties 163,814 213,789
Class A Ordinary Shares    
SHAREHOLDERS’ EQUITY    
Ordinary shares, value [1] 1,396 1,096
Class B Ordinary Shares    
SHAREHOLDERS’ EQUITY    
Ordinary shares, value $ 379 $ 379
[1] Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023
v3.24.4
Unaudited Interim Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares
Jun. 30, 2024
Dec. 31, 2023
Class A Ordinary Shares    
Ordinary shares, par value (in Dollars per share) [1] $ 0.0001 $ 0.0001
Ordinary shares, shares authorized [1] 300,000,000 300,000,000
Ordinary shares, shares issued [1] 10,963,040 13,963,040
Ordinary shares, shares outstanding [1] 10,963,040 13,963,040
Class B Ordinary Shares    
Ordinary shares, par value (in Dollars per share) $ 0.0001 $ 0.0001
Ordinary shares, shares authorized 200,000,000 200,000,000
Ordinary shares, shares issued 3,786,960 3,786,960
Ordinary shares, shares outstanding 3,786,960 3,786,960
[1] Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023
v3.24.4
Unaudited Interim Condensed Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Income Statement [Abstract]    
REVENUES $ 1,351,121 $ 2,814,664
COST OF REVENUES (981,389) (746,661)
GROSS PROFIT 369,732 2,068,003
OPERATING EXPENSES    
Selling expenses (611,938) (1,203,472)
General and administrative expenses (3,444,910) (1,877,461)
Total operating expenses (4,056,848) (3,080,933)
LOSS FROM OPERATIONS (3,687,116) (1,012,930)
OTHER INCOME (EXPENSE), NET    
Other income 122,261 58,524
Other expense (35,129) (6,638)
Total other income, net 87,132 51,886
NET LOSS BEFORE INCOME TAXES (3,599,984) (961,044)
Income tax expense (60,841) (117,629)
NET LOSS (3,660,825) (1,078,673)
Other comprehensive loss    
Foreign currency translation loss (41,646) (65,734)
TOTAL COMPREHENSIVE LOSS $ (3,702,471) $ (1,144,407)
Basic loss per share (in Dollars per share) [1] $ (0.21) $ (0.08)
Diluted loss per share (in Dollars per share) [1] $ (0.21) $ (0.08)
Weighted average number of common shares outstanding - basic (in Shares) [1] 17,750,000 13,115,278
Weighted average number of common shares outstanding - diluted (in Shares) [1] 17,750,000 13,115,278
[1] Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023
v3.24.4
Unaudited Interim Condensed Statements of Cash Flows - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities    
Net loss $ (3,660,825) $ (1,078,673)
Adjustments to reconcile net income to cash (used in) operating activities:    
Provision (reverse) for doubtful accounts (14,357) 114,462
Depreciation and amortization 48,661 144,947
Non-cash operating lease expenses 106,548
Share-based compensation expenses 1,773,600
Foreign exchange gain (42,850)
Deferred tax expenses 118,159
Changes in assets and liabilities    
Accounts receivable 238,212 (761,458)
Other receivables (96,868) (68,925)
Prepayments 151,732 (366,835)
Accounts receivable - related party (379,248)
Due from related parties (234,387)
Other non-current assets 7,623 1,971
Accounts payable (162,766) 257,028
Accruals and other payables 23,477 1,026,012
Advance from clients (147,524) 423,795
Taxes payable (53,344) 43,880
Operating lease liabilities (103,266) (102,504)
Net cash used in operating activities (2,166,334) (627,389)
Cash flows from investing activities    
Purchase of property and equipment (5,690) 13,284
Purchase of intangible assets (29,761) (4,028,815)
Net cash used in investing activities (35,451) (4,015,531)
Cash flows from financing activities    
IPO proceeds net of deferred offering cost 8,047,056
Due from related parties 881,306
Due to related parties (186,901) (1,099,907)
Net cash provided by financing activities 694,405 6,947,149
Effect of exchange rates on cash (42,813) (65,734)
Net increase (decrease) in cash and restricted cash (1,550,193) 2,238,495
Cash and restricted cash at beginning of period 4,648,980 2,654,185
Cash and restricted cash at end of period 3,098,787 4,892,680
Cash at end of period 3,098,787 4,892,680
Restricted cash at end of period
Cash and restricted cash at end of period 3,098,787 4,892,680
Supplemental disclosure information    
Cash paid for interest expenses
Cash paid for income tax 420
Supplemental disclosure of non-cash financing activities:    
Operating lease asset obtained in exchange for operating lease obligation $ 103,499
v3.24.4
General Information and Basis of Presentation
 6 Months Ended
Jun. 30, 2024
General Information and Basis of Presentation [Abstract]  
General information and basis of presentation
1.General information and basis of presentation

 

General information

 

Top KingWin Ltd and its consolidated subsidiaries (collectively referred to as the “Group” or the “Company”) primarily provide three main corporate services, including corporate business training, corporate consulting, advisory and transaction services to its clients in the People’s Republic of China (the “PRC”).

 

Top KingWin Ltd (Referred as “KingWin”) is a holding company incorporated in Cayman Island on February 16, 2022 under the laws of the Cayman Islands. The Company has no substantial operations other than holding all of the outstanding share capital of Sky Kingwin Ltd (Referred as “KingWin BVI”) established under the laws of the British Virgin Islands on March 15, 2022. KingWin BVI is also a holding company holding all of the outstanding equity of SKY KINGWIN (HK) LIMITED (Referred as “KingWin HK”) which was incorporated in Hong Kong on April 19, 2022. KingWin HK is a holding company holding all of the outstanding equity of Guangdong Tiancheng Jinhui Enterprise Development Co., Ltd. (Referred as “Tiancheng Jinhui”) which was established on October 25, 2018 under the law of the PRC.

 

Basis of Presentation

 

The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”).

 

The accompanying unaudited interim condensed consolidated balance sheet as of June 30, 2024, the unaudited interim condensed consolidated statements of (loss) income and comprehensive (loss) income and cash flows for the six months ended June 30, 2024 and 2023, and the related footnote disclosures are unaudited. These unaudited interim condensed consolidated financial statements of the Company are prepared in accordance with U.S. GAAP for interim financial statements using accounting policies that are consistent with those used in the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2023. These unaudited interim condensed consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited interim condensed consolidated financial statements contain all normal recurring adjustments necessary to present fairly the consolidated financial position, operating results and cash flows of the Company for each of the periods presented. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2023.
v3.24.4
Revenue Recognition
 6 Months Ended
Jun. 30, 2024
Revenue Recognition [Abstract]  
Revenue recognition
2.Revenue recognition

 

The Company’s revenues are recognized when persuasive evidence of an arrangement exists, service has occurred, and all performance obligations have been performed pursuant to the terms of the agreement, the sales price is fixed or determinable and collectability is reasonably assured. The Company revenue agreements generally do not include a right of return in relation to the delivered products or services. Depending on the terms of the agreement and the laws that apply to the agreement, service obligations may be delivered over time or at a point in time. Control of the services is transferred over time if the Company’s performance:

 

  - provides all of the benefits received and consumed simultaneously by the client;
     
  - creates and enhances an asset that the client controls as the Company performs; or
     
  - does not create an asset with an alternative use to the Company and the Company has an enforceable right to payment for performance complete to date.

 

If control of services transfers over time, revenue is recognized over the period of the agreement by reference to progress toward complete satisfaction of that performance obligation. Otherwise, revenue is recognized at a point in time when the client obtains control of the services.

 

The Company currently generates its revenue from the following table presents revenues by service categories for the six months ended June 30, 2024 and 2023, respectively:

 

   For the Six Months Ended June 30, 
   2024   2023 
Service Category  $   % of
revenues		   $   % of
revenues		 
Advisory and transaction services   146,515    10.8%   1,256,894    44.7%
Corporate business training services   454,357    33.6%   1,483,471    52.7%
Corporate consulting services   654,398    48.4%   74,299    2.6%
Others   95,851    7.1%   
-
    
-
%
Total revenues   1,351,121    100%   2,814,664    100%

 

Timing of revenue recognition

 

   For the six months ended
June 30,		 
   2024   2023 
Point in Time   1,351,121    2,814,664 
Over Time   
-
    
-
 
Total Revenue   1,351,121    2,814,664 

 

The major customers which individually contributed more than 10% of total revenue of the Group for the six months ended June 30, 2024 and 2023 are listed as below:

 

   For the six months ended
June 30,		 
   2024   2023 
Customer A   
-
    19%
Customer B   
-
    12%
Customer C   
-
    11%
v3.24.4
Expenses by Nature
 6 Months Ended
Jun. 30, 2024
Expenses by Nature [Abstract]  
Expenses by nature
3.Expenses by nature

 

   For the six months ended
June 30,		 
   2024   2023 
Cost of revenue (Note 3 (i))   981,389    746,661 
Payroll and employee benefits (Note 3 (ii))   2,923,687    1,270,038 
Depreciation and amortization (Note 3 (iii))   48,661    144,947 
Professional services fee   702,628    811,843 
Provision (reverse) for credit loss   (14,357)   114,462 
Office and other expenses   396,229    739,643 
Total cost of revenue, administrative expenses and selling expenses   5,038,237    3,827,594 

 

 

   For the Six Months Ended
June 30,		 
i) Service Category  2024   2023 
Advisory and transaction services   
-
    
-
 
Corporate business training services   257,121    674,499 
Corporate consulting services   724,268    72,162 
Others   
-
    
-
 

 

   For the Six Months Ended
June 30, 2024 and 2023		 
ii) Payroll and employee benefits:  2024   2023 
Payroll and employee benefits incurred and classified as selling and administration expenses:        
Salaries, allowances, bonus, benefits and in kind   1,150,087    1,270,038 
Contributions to defined contribution retirement plan   
-
    
-
 
Share based payments   1,773,600    
-
 
           
Payroll and employee benefits incurred and classified as cost of revenue   230,241    285,087 

 

   For the Six Months Ended
June 30, 2024 and 2023		 
iii) Depreciation and amortization：  2024   2023 
Property and equipment   43,960    13,129 
Intangible assets   4,701    26,656 
Right of use assets   106,548    105,162 
v3.24.4
Loss per share
 6 Months Ended
Jun. 30, 2024
Loss Per Share [Abstract]  
Loss per share
4.Loss per share

 

(a) Basic loss per ordinary share

 

The calculation of basic loss per ordinary share is based on the loss attributable to ordinary equity shareholders of the Company divided by the weighted average number of ordinary shares outstanding.

 

(b) Diluted loss per ordinary share

 

Diluted loss per ordinary share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all potential dilutive ordinary shares.

 

There was no difference between basic and diluted loss per ordinary share during the six months ended June 30, 2024 and 2023.

 

The following table sets forth the basic and diluted net loss per share computation and provides a reconciliation of the numerator and denominator for the six months ended June 30, 2024 and 2023 presented:

 

   As of June 30, 
   2024   2023 
Numerator:        
Net loss attributable to Top KingWin’s shareholders   (3,660,825)   (1,078,673)
Denominator:   ​    ​ 
Weighted average number of ordinary shares outstanding-basic and diluted*   17,750,000    13,115,278 
Denominator for basic and diluted net loss per share calculation   17,750,000    13,115,278 
Basic and diluted net loss per share attributable to ordinary shareholders of Top KingWin’s shareholders   (0.21)   (0.08)
v3.24.4
Property, Equipment and Intangible Assets
 6 Months Ended
Jun. 30, 2024
Property, Equipment and Intangible Assets [Abstract]  
Property, equipment and intangible assets
5.Property, equipment and intangible assets

 

During the six months ended June 30, 2024, the Group incurred capital expenditure on property, equipment and intangible assets with a cost of $ 35,451 (six months ended June 30, 2023: $ 4,015,531).

 

For the six-month ended June 30, 2024 and 2023, no impairment losses were recognized with respect to property, equipment, and intangible assets.
v3.24.4
Business Combination and Goodwill
 6 Months Ended
Jun. 30, 2024
Business Combination and Goodwill [Abstract]  
Business combination and goodwill
6.Business combination and goodwill

 

In December 2023, Sky KingWin Ltd (referred to as “Buyer”) entered into an agreement with Future Scope Advisors LTD, Visionary Strategies LTD, Mr. Zhiliang Hu and Ms. Li Qian . This agreement allowed the Buyer to acquire 100% equity interest in Industrial Insights Consulting LTD. The Seller, consisting of Future Scope Advisors LTD (referred to as “Seller 1”), Visionary Strategies LTD (referred to as “Seller 2”), Zhiliang Hu (referred to as “Seller 3”), and Li Qian (referred to as “Seller 4”), collectively owned shares in Industry Insights Consulting LTD. Therefore, through the agreement with Industry Insights Consulting LTD, Sky KingWin Ltd obtained complete ownership of Industrial Insights Consulting LTD. The total cash transfer consideration of the transaction was $4,000,000.

 

The acquisition of the 100 % equity interest in Industrial Insights Consulting LTD. was completed on December 20 2023 and was accounted for as a business combination using the purchase method of accounting. The purchase price allocation of the transaction was determined by the Company with the assistance of an independent appraisal firm based on the estimated fair value of the assets acquired and liabilities assumed as of the acquisition date. The most significant variables in the valuation are discount rate, terminal value, the number of years on which to base the cash flow projections, as well as the assumptions and estimates used to determine the cash inflows and outflows.

 

The purchase price allocation to assets acquired and liabilities assumed as of the date of acquisition was as follows:

 

   Amounts 
Cash acquired  $28,320 
Accounts receivable, net   97,271 
Prepayments   10,095 
Other receivables, net   1,128,868 
Property and equipment, net   4,906 
Intangible assets, net   7,796 
Accounts payable   (120,591)
Advance from clients   (1,822)
Accrued expenses and other payables   (128,693)
Goodwill   2,973,850 
Total consideration  $4,000,000 

 

The impairment loss of goodwill for the six months ended June 30, 2024 was nil.
v3.24.4
Share-based payments
 6 Months Ended
Jun. 30, 2024
Share-based payments [Abstract]  
Share-based payments
7.Share-based payments

 

The Corporation’s 2024 Equity Incentive Plan was formally adopted on February 22, 2024, with the objectives of fostering long-term corporate success, attracting and retaining high-caliber personnel, and aligning the interests of employees with those of the shareholders. The Plan encompasses a variety of equity grant options. In April 2024, under this scheme, a total of 3,000,000 Class A Ordinary Shares were granted to 11 employees and vested immediately and the exercise price was $0.5911 per share on May 1, 2024. The expense recognized for share-based compensation for the six-month period concluding on June 30, 2024, amounted to USD 1,773,300. Detailed information regarding the issuance and vesting of common shares is provided below:
v3.24.4
Equities Roll Forward Schedule
 6 Months Ended
Jun. 30, 2024
Equities Roll Forward Schedule [Abstract]  
Equities Roll forward Schedule
8.Equities Roll forward Schedule

 

   Class A
ordinary shares		   Class B
ordinary shares		   Additional paid-in   Statutory   (Accumulated deficits)   Accumulated other  comprehensive   Total shareholders’ 
   Shares*   Amount   Shares*   Amount   capital   reserve   earnings   income (loss)   equity 
                                     
Balance, December 31, 2023  $10,963,040   $1,096    3,786,960   $379   $8,275,034   $282,545   $(928,311)  $(225,791)  $7,404,952 
                                              
Net loss                                 (3,660,825)        (3,660,825)
Share-based payments   3,000,000    300              1,741,178                   1,741,478 
Foreign currency translation adjustment                                      (41,646)   (41,646)
Balance, December 31, 2024  $13,963,040   $1,396    3,786,960   $379   $10,016,212   $282,545   $(4,589,136)  $(267,437)  $5,443,959 
v3.24.4
Material Related Party Transactions
 6 Months Ended
Jun. 30, 2024
Material Related Party Transactions [Abstract]  
Material related party transactions
9.Material related party transactions

 

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. The related parties that had transactions or balances with the Company for the six months ended June 30, 2023 and 2024 consisted of:

 

Name of Related Parties   Relationship with the Company
Guangzhou Tiancheng Capital Management Group Co., Ltd. (“Tiancheng Capital”)   The former shareholder of Tiancheng Jinhui from June 18, 2020 to June 30, 2022. And as of December 31, 2023, Mr. Ruilin Xu still holds 48.62% equity interest in Guangzhou Tiancheng Capital Management Group Co., Ltd. (“Tiancheng Capital”). The Company provided advisory and transaction services for Tiancheng Capital.
Mr. Ruilin Xu   The Company’s Chief Executive Officer and director, paid certain professional fees or salaries on behalf of the company.
Mr. Siqi Cao   The Company’s director, paid certain professional fees on behalf of the Company.
Shenzhen CIC Consulting Co., Ltd.   Mr. Zhiliang Hu holds 30% equity interest in Shenzhen Zhongtou Business Consulting Co., Ltd.
Shenzhen Zhongtou Shunshi Investment Management Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Shunshi Investment Management Co.,Ltd.
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.,Ltd.   Both Mr. Zhiliang Hu and Ms. Xiaohuang Hong each hold a 50% equity interest in Shenzhen Zhongtou Big Data Technology Co., Ltd. Additionally, Ms. Xiaohuang Hong holds a 50% equity interest in Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co., Ltd.
Shenzhen Zhongtou Industrial Planning & Consulting Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Industrial Planning & Consulting Co.
 Shenzhen Zhongtou Big Data Technology Co.,Ltd.   Both Mr. Zhiliang Hu and Ms. Xiaohuang Hong each hold a 50% equity interest in Shenzhen Zhongtou Big Data Technology Co., Ltd.
Ms. Li Qian   Ms. Li Qian is the spouse of Mr. Zhiliang Hu.
Shenzhen Zhongtou Industrial Treasure Network Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Industrial Treasure Network Co.
Mr. Zhiliang Hu   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Shunshi Investment Management Co., Ltd.
Infinity worldwide holding.,Ltd.   Infinity worldwide holding., Ltd is the shareholders of the company and holds 2.847% interest rights.
Shaanxi Tiancheng Jinhui Investment Co., Ltd. (Formally known as “Shaanxi Tiancheng Enterprise Management Consulting Co., Ltd.”)   Shaanxi Tiancheng Jinhui Investment Co., Ltd. is one of the Company’s suppliers, and Tiancheng Capital holds 52% equity interest in the party until December 8, 2021.
Guangzhou Tianyi Technology Co., Ltd. (Formally known as “Tiancheng New Retail Investment Holding (Guangdong) Co., Ltd.”)   Guangzhou Tianyi Technology Co., Ltd. is one of the Company’s suppliers, and Tiancheng Capital holds 51% equity interest in the party since March 3, 2020.
Shenzhen Investment Consulting Co., Ltd.   As of September 13, 2024, Mr. Zhiliang Hu hold 30% equity interest in Shenzhen Investment Consulting Co., Ltd.
Mr. Guangyuan Wei   As of November 5, 2024, Mr. Guangyuan Wei is the CEO and Chairman of Chongqing Tiancheng Jinhui Enterprise Management Consulting Co., Ltd.
Mr. Hongqing Zhang   Mr. Hongqing Zhang is the supervisors of Guangdong Tiancheng Jinhui Enterprise Development Group Co., Ltd.

 

Key management personnel compensation

 

   As of
June 30,		   As of
June 30,		 
   2024   2023 
Short-term employment benefits (excluding discretionary bonus)   134,885    134,652 
Discretionary bonus   3,004    10,474 
Share based payments   1,773,600    
-
 

 

Except for the above, there is no other transactions between with the company and its related parties for the six months ended June 30, 2024 and 2023.

 

Balances with related parties

 

   June 30,   December 31, 
   2024   2023 
Accounts payable-related party        
Guangzhou Tiancheng Capital Management Group Co., Ltd.  $9,977   $146,903 
   $9,977   $146,903 
           
Due from related parties          
Shenzhen CIC Consulting Co., Ltd.  $
-
   $502,314 
Shenzhen Zhongtou Shunshi Investment Management Co.   131,252    357,967 
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.   16,788    29,958 
Shenzhen Zhongtou Industrial Planning & Consulting Co.   45,809    101,692 
Shenzhen Zhongtou Big Data Technology Co.   16,334    25,606 
Mr. Guangyuan Wei   1,238    
-
 
Ms. Li Qian   
-
    12,253 
Mr. Zhiliang Hu   
-
    2,336 
Shenzhen Investment Consulting Co., Ltd.   218,953    
-
 
Shenzhen Zhongtou Industrial Treasure Network Co.   40,538    86,973 
Mr. Hongqing Zhang   1,268    
-
 
   $472,180   $1,119,099 
           
Due to related parties          
Mr. Ruilin Xu (the Company’s Chief Executive Officer)  $29,035   $29,719 
Infinity worldwide holding ltd   120,674    120,674 
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.   
-
    2,817 
Shenzhen Zhongtou Industrial Planning & Consulting Co.   
-
    10,578 
Shenzhen Zhongtou Industrial Treasure Network Co.   
-
    25,775 
Ms. Li Qian   
-
    24,226 
Mr. Zhiliang Hu   14,105    
-
 
   $163,814   $213,789 
v3.24.4
Subsequent Event
 6 Months Ended
Jun. 30, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENT
10.Subsequent Event 

 

On September 5, 2024, the Company entered into a securities purchase agreement with 25 investors (the “Purchasers”), pursuant to which the Company agreed to sell up to $38,000,000 of Class A ordinary shares, par value $0.0001 each (the “Class A Ordinary Shares”), at a per share purchase price of $0.23 (the “Offering”). Upon satisfying all closing conditions, the Offering was consummated on September 10, 2024. The Company issued a total of 165,217,391 restricted Class A Ordinary Shares to the Purchasers. Upon closing of the Offering and as of the date of this report, there are 179,180,431 Class A Ordinary Shares issued and outstanding and 3,786,960 Class B ordinary shares, par value $0.0001 each, issued and outstanding.

 

The Company plans to use the proceeds from this Offering to launch its AI powered IT solution business. The Company, through its subsidiary in China, plan to purchase servers and chips, leveraging its supply chain advantages, customize such hardware by installing AI-powered system and software solutions, and ultimately offer such integrated solutions to clients in the intelligent manufacturing, urban construction, and healthcare industries.

 

On November 25, 2024, the Company entered into a securities purchase agreement with a selling shareholder (the “Selling Shareholder”). Following the fulfillment of all closing conditions, the Company issued a convertible note to the Selling Shareholder on November 26, 2024, in the original principal amount of $2,500,000 (the “Convertible Note”). The Convertible Note carries an annual interest rate of 11.75%, subject to periodic adjustments in accordance with its terms. The entire principal and any accrued interest on the Convertible Note will be due and payable twelve months after its issuance. The Selling Shareholder, however, has the option to extend the maturity for an additional twenty-four months, subject to mutual agreement. The Convertible Note includes an original issue discount of 10%. The Company is prohibited from prepaying any portion of the outstanding principal, accrued interest, or any unpaid late charges, if applicable. At any time after issuance, the Convertible Note may be converted into validly issued, fully paid, and non-assessable Class A Ordinary Shares in accordance with its terms and conditions. In the event of a Default, as defined in the Convertible Note, the Selling Shareholder may require the Company to redeem all or part of the Convertible Note by providing written notice.

 

On December 30, 2024, Sky KingWin Ltd (“Sky KingWin”), a wholly-owned subsidiary of the Company, entered into certain share purchase agreement (the “Asset Disposition SPA”) with Industry Insights Consulting LTD (the “Target”), a wholly-owned subsidiary of Sky KingWin, and Bosera Asset Management Co., Ltd., a New York company. The Purchaser agreed to purchase the Target in exchange for cash consideration of USD 480,000 (the “Purchase Price”), the payment of which was due by January 15, 2025.

 

On January 14, 2025, Sky KingWin and Bosera Asset Management Co., Ltd entered into a supplemental agreement to the Asset Disposition SPA (the “Supplemental Agreement”) and stipulated that the payment date for the Purchase Price is extended until March 31, 2025 (the “Extended Payment Date”). If the Purchase Price is not fully paid by the Extended Payment Date, a penalty of 1% will be applied to the remaining unpaid balance for each day the Purchase Price is delayed. All other terms of the SPA remain unchanged.
v3.24.4
Accounting Policies, by Policy (Policies)
 6 Months Ended
Jun. 30, 2024
General Information and Basis of Presentation [Abstract]  
General information

General information

Top KingWin Ltd and its consolidated subsidiaries (collectively referred to as the “Group” or the “Company”) primarily provide three main corporate services, including corporate business training, corporate consulting, advisory and transaction services to its clients in the People’s Republic of China (the “PRC”).

Top KingWin Ltd (Referred as “KingWin”) is a holding company incorporated in Cayman Island on February 16, 2022 under the laws of the Cayman Islands. The Company has no substantial operations other than holding all of the outstanding share capital of Sky Kingwin Ltd (Referred as “KingWin BVI”) established under the laws of the British Virgin Islands on March 15, 2022. KingWin BVI is also a holding company holding all of the outstanding equity of SKY KINGWIN (HK) LIMITED (Referred as “KingWin HK”) which was incorporated in Hong Kong on April 19, 2022. KingWin HK is a holding company holding all of the outstanding equity of Guangdong Tiancheng Jinhui Enterprise Development Co., Ltd. (Referred as “Tiancheng Jinhui”) which was established on October 25, 2018 under the law of the PRC.
Basis of Presentation

Basis of Presentation

The consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”).

The accompanying unaudited interim condensed consolidated balance sheet as of June 30, 2024, the unaudited interim condensed consolidated statements of (loss) income and comprehensive (loss) income and cash flows for the six months ended June 30, 2024 and 2023, and the related footnote disclosures are unaudited. These unaudited interim condensed consolidated financial statements of the Company are prepared in accordance with U.S. GAAP for interim financial statements using accounting policies that are consistent with those used in the preparation of the Company’s audited consolidated financial statements for the year ended December 31, 2023. These unaudited interim condensed consolidated financial statements do not include all of the information and footnotes required by U.S. GAAP for annual financial statements. In the opinion of the Company’s management, the accompanying unaudited interim condensed consolidated financial statements contain all normal recurring adjustments necessary to present fairly the consolidated financial position, operating results and cash flows of the Company for each of the periods presented. These unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements for the year ended December 31, 2023.
v3.24.4
Revenue Recognition (Tables)
 6 Months Ended
Jun. 30, 2024
Revenue Recognition [Abstract]  
Schedule of Revenues by Services The Company currently generates its revenue from the following table presents revenues by service categories for the six months ended June 30, 2024 and 2023, respectively:
   For the Six Months Ended June 30, 
   2024   2023 
Service Category  $   % of
revenues		   $   % of
revenues		 
Advisory and transaction services   146,515    10.8%   1,256,894    44.7%
Corporate business training services   454,357    33.6%   1,483,471    52.7%
Corporate consulting services   654,398    48.4%   74,299    2.6%
Others   95,851    7.1%   
-
    
-
%
Total revenues   1,351,121    100%   2,814,664    100%
Schedule of Timing of Revenue Recognition Timing of revenue recognition
   For the six months ended
June 30,		 
   2024   2023 
Point in Time   1,351,121    2,814,664 
Over Time   
-
    
-
 
Total Revenue   1,351,121    2,814,664 
Schedule of Major Customers The major customers which individually contributed more than 10% of total revenue of the Group for the six months ended June 30, 2024 and 2023 are listed as below:
   For the six months ended
June 30,		 
   2024   2023 
Customer A   
-
    19%
Customer B   
-
    12%
Customer C   
-
    11%
v3.24.4
Expenses by Nature (Tables)
 6 Months Ended
Jun. 30, 2024
Expenses by Nature [Abstract]  
Schedule of Expenses by Nature
   For the six months ended
June 30,		 
   2024   2023 
Cost of revenue (Note 3 (i))   981,389    746,661 
Payroll and employee benefits (Note 3 (ii))   2,923,687    1,270,038 
Depreciation and amortization (Note 3 (iii))   48,661    144,947 
Professional services fee   702,628    811,843 
Provision (reverse) for credit loss   (14,357)   114,462 
Office and other expenses   396,229    739,643 
Total cost of revenue, administrative expenses and selling expenses   5,038,237    3,827,594 
Schedule of Service Category
   For the Six Months Ended
June 30,		 
i) Service Category  2024   2023 
Advisory and transaction services   
-
    
-
 
Corporate business training services   257,121    674,499 
Corporate consulting services   724,268    72,162 
Others   
-
    
-
 

 
Schedule of Payroll and Employee Benefits
   For the Six Months Ended
June 30, 2024 and 2023		 
ii) Payroll and employee benefits:  2024   2023 
Payroll and employee benefits incurred and classified as selling and administration expenses:        
Salaries, allowances, bonus, benefits and in kind   1,150,087    1,270,038 
Contributions to defined contribution retirement plan   
-
    
-
 
Share based payments   1,773,600    
-
 
           
Payroll and employee benefits incurred and classified as cost of revenue   230,241    285,087 
Schedule of Depreciation and Amortization
   For the Six Months Ended
June 30, 2024 and 2023		 
iii) Depreciation and amortization：  2024   2023 
Property and equipment   43,960    13,129 
Intangible assets   4,701    26,656 
Right of use assets   106,548    105,162 
v3.24.4
Loss per share (Tables)
 6 Months Ended
Jun. 30, 2024
Loss Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss Per Share The following table sets forth the basic and diluted net loss per share computation and provides a reconciliation of the numerator and denominator for the six months ended June 30, 2024 and 2023 presented:
   As of June 30, 
   2024   2023 
Numerator:        
Net loss attributable to Top KingWin’s shareholders   (3,660,825)   (1,078,673)
Denominator:   ​    ​ 
Weighted average number of ordinary shares outstanding-basic and diluted*   17,750,000    13,115,278 
Denominator for basic and diluted net loss per share calculation   17,750,000    13,115,278 
Basic and diluted net loss per share attributable to ordinary shareholders of Top KingWin’s shareholders   (0.21)   (0.08)
v3.24.4
Business Combination and Goodwill (Tables)
 6 Months Ended
Jun. 30, 2024
Business Combination and Goodwill [Abstract]  
Schedule of Purchase Price Allocation to Assets Acquired and Liabilities The purchase price allocation to assets acquired and liabilities assumed as of the date of acquisition was as follows:
   Amounts 
Cash acquired  $28,320 
Accounts receivable, net   97,271 
Prepayments   10,095 
Other receivables, net   1,128,868 
Property and equipment, net   4,906 
Intangible assets, net   7,796 
Accounts payable   (120,591)
Advance from clients   (1,822)
Accrued expenses and other payables   (128,693)
Goodwill   2,973,850 
Total consideration  $4,000,000 
v3.24.4
Equities Roll Forward Schedule (Tables)
 6 Months Ended
Jun. 30, 2024
Equities Roll Forward Schedule [Abstract]  
Schedule of Equities Roll Forward Schedule
   Class A
ordinary shares		   Class B
ordinary shares		   Additional paid-in   Statutory   (Accumulated deficits)   Accumulated other  comprehensive   Total shareholders’ 
   Shares*   Amount   Shares*   Amount   capital   reserve   earnings   income (loss)   equity 
                                     
Balance, December 31, 2023  $10,963,040   $1,096    3,786,960   $379   $8,275,034   $282,545   $(928,311)  $(225,791)  $7,404,952 
                                              
Net loss                                 (3,660,825)        (3,660,825)
Share-based payments   3,000,000    300              1,741,178                   1,741,478 
Foreign currency translation adjustment                                      (41,646)   (41,646)
Balance, December 31, 2024  $13,963,040   $1,396    3,786,960   $379   $10,016,212   $282,545   $(4,589,136)  $(267,437)  $5,443,959 
v3.24.4
Material Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2024
Material Related Party Transactions [Abstract]  
Schedule of Related Party Transactions or Balances with the Company The related parties that had transactions or balances with the Company for the six months ended June 30, 2023 and 2024 consisted of:
Name of Related Parties   Relationship with the Company
Guangzhou Tiancheng Capital Management Group Co., Ltd. (“Tiancheng Capital”)   The former shareholder of Tiancheng Jinhui from June 18, 2020 to June 30, 2022. And as of December 31, 2023, Mr. Ruilin Xu still holds 48.62% equity interest in Guangzhou Tiancheng Capital Management Group Co., Ltd. (“Tiancheng Capital”). The Company provided advisory and transaction services for Tiancheng Capital.
Mr. Ruilin Xu   The Company’s Chief Executive Officer and director, paid certain professional fees or salaries on behalf of the company.
Mr. Siqi Cao   The Company’s director, paid certain professional fees on behalf of the Company.
Shenzhen CIC Consulting Co., Ltd.   Mr. Zhiliang Hu holds 30% equity interest in Shenzhen Zhongtou Business Consulting Co., Ltd.
Shenzhen Zhongtou Shunshi Investment Management Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Shunshi Investment Management Co.,Ltd.
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.,Ltd.   Both Mr. Zhiliang Hu and Ms. Xiaohuang Hong each hold a 50% equity interest in Shenzhen Zhongtou Big Data Technology Co., Ltd. Additionally, Ms. Xiaohuang Hong holds a 50% equity interest in Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co., Ltd.
Shenzhen Zhongtou Industrial Planning & Consulting Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Industrial Planning & Consulting Co.
 Shenzhen Zhongtou Big Data Technology Co.,Ltd.   Both Mr. Zhiliang Hu and Ms. Xiaohuang Hong each hold a 50% equity interest in Shenzhen Zhongtou Big Data Technology Co., Ltd.
Ms. Li Qian   Ms. Li Qian is the spouse of Mr. Zhiliang Hu.
Shenzhen Zhongtou Industrial Treasure Network Co.,Ltd.   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Industrial Treasure Network Co.
Mr. Zhiliang Hu   Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Shunshi Investment Management Co., Ltd.
Infinity worldwide holding.,Ltd.   Infinity worldwide holding., Ltd is the shareholders of the company and holds 2.847% interest rights.
Shaanxi Tiancheng Jinhui Investment Co., Ltd. (Formally known as “Shaanxi Tiancheng Enterprise Management Consulting Co., Ltd.”)   Shaanxi Tiancheng Jinhui Investment Co., Ltd. is one of the Company’s suppliers, and Tiancheng Capital holds 52% equity interest in the party until December 8, 2021.
Guangzhou Tianyi Technology Co., Ltd. (Formally known as “Tiancheng New Retail Investment Holding (Guangdong) Co., Ltd.”)   Guangzhou Tianyi Technology Co., Ltd. is one of the Company’s suppliers, and Tiancheng Capital holds 51% equity interest in the party since March 3, 2020.
Shenzhen Investment Consulting Co., Ltd.   As of September 13, 2024, Mr. Zhiliang Hu hold 30% equity interest in Shenzhen Investment Consulting Co., Ltd.
Mr. Guangyuan Wei   As of November 5, 2024, Mr. Guangyuan Wei is the CEO and Chairman of Chongqing Tiancheng Jinhui Enterprise Management Consulting Co., Ltd.
Mr. Hongqing Zhang   Mr. Hongqing Zhang is the supervisors of Guangdong Tiancheng Jinhui Enterprise Development Group Co., Ltd.
Schedule of Key Management Personnel Compensation Key management personnel compensation
   As of
June 30,		   As of
June 30,		 
   2024   2023 
Short-term employment benefits (excluding discretionary bonus)   134,885    134,652 
Discretionary bonus   3,004    10,474 
Share based payments   1,773,600    
-
 
Schedule of Balances with Related Party Balances with related parties
   June 30,   December 31, 
   2024   2023 
Accounts payable-related party        
Guangzhou Tiancheng Capital Management Group Co., Ltd.  $9,977   $146,903 
   $9,977   $146,903 
           
Due from related parties          
Shenzhen CIC Consulting Co., Ltd.  $
-
   $502,314 
Shenzhen Zhongtou Shunshi Investment Management Co.   131,252    357,967 
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.   16,788    29,958 
Shenzhen Zhongtou Industrial Planning & Consulting Co.   45,809    101,692 
Shenzhen Zhongtou Big Data Technology Co.   16,334    25,606 
Mr. Guangyuan Wei   1,238    
-
 
Ms. Li Qian   
-
    12,253 
Mr. Zhiliang Hu   
-
    2,336 
Shenzhen Investment Consulting Co., Ltd.   218,953    
-
 
Shenzhen Zhongtou Industrial Treasure Network Co.   40,538    86,973 
Mr. Hongqing Zhang   1,268    
-
 
   $472,180   $1,119,099 
           
Due to related parties          
Mr. Ruilin Xu (the Company’s Chief Executive Officer)  $29,035   $29,719 
Infinity worldwide holding ltd   120,674    120,674 
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.   
-
    2,817 
Shenzhen Zhongtou Industrial Planning & Consulting Co.   
-
    10,578 
Shenzhen Zhongtou Industrial Treasure Network Co.   
-
    25,775 
Ms. Li Qian   
-
    24,226 
Mr. Zhiliang Hu   14,105    
-
 
   $163,814   $213,789 
v3.24.4
Revenue Recognition - Schedule of Revenues by Services (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Schedule of Revenues by Services [Line Items]    
Total revenues $ 1,351,121 $ 2,814,664
Advisory and transaction services [Member]    
Schedule of Revenues by Services [Line Items]    
Revenues by service 146,515 1,256,894
Corporate business training services [Member]    
Schedule of Revenues by Services [Line Items]    
Revenues by service 454,357 1,483,471
Corporate consulting services [Member]    
Schedule of Revenues by Services [Line Items]    
Revenues by service 654,398 74,299
Others [Member]    
Schedule of Revenues by Services [Line Items]    
Revenues by service $ 95,851
Customer Concentration Risk [Member] | Revenue Benchmark [Member]    
Schedule of Revenues by Services [Line Items]    
Percentage of revenues 100.00% 100.00%
Percentage of Total revenues 100.00% 100.00%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Advisory and transaction services [Member]    
Schedule of Revenues by Services [Line Items]    
Percentage of revenues 10.80% 44.70%
Percentage of Total revenues 10.80% 44.70%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Corporate business training services [Member]    
Schedule of Revenues by Services [Line Items]    
Percentage of revenues 33.60% 52.70%
Percentage of Total revenues 33.60% 52.70%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Corporate consulting services [Member]    
Schedule of Revenues by Services [Line Items]    
Percentage of revenues 48.40% 2.60%
Percentage of Total revenues 48.40% 2.60%
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Others [Member]    
Schedule of Revenues by Services [Line Items]    
Percentage of revenues 7.10%
Percentage of Total revenues 7.10%
v3.24.4
Revenue Recognition - Schedule of Timing of Revenue Recognition (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Schedule of Timing of Revenue Recognition [Line Items]    
Total Revenue $ 1,351,121 $ 2,814,664
Point in Time [Member]    
Schedule of Timing of Revenue Recognition [Line Items]    
Total Revenue 1,351,121 2,814,664
Over Time [Member]    
Schedule of Timing of Revenue Recognition [Line Items]    
Total Revenue
v3.24.4
Revenue Recognition - Schedule of Major Customers (Details) - Customer Concentration Risk [Member] - Revenue [Member]
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Customer A [Member]    
Schedule of Major Customers [Line Items]    
Concentration risk, Percentage 19.00%
Customer B [Member]    
Schedule of Major Customers [Line Items]    
Concentration risk, Percentage 12.00%
Customer C [Member]    
Schedule of Major Customers [Line Items]    
Concentration risk, Percentage 11.00%
v3.24.4
Expenses by Nature - Schedule of Expenses by Nature (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Expenses by Nature [Abstract]    
Cost of revenue (Note 3 (i)) $ 981,389 $ 746,661
Payroll and employee benefits (Note 3 (ii)) 2,923,687 1,270,038
Depreciation and amortization (Note 3 (iii)) 48,661 144,947
Professional services fee 702,628 811,843
Provision (reverse) for credit loss (14,357) 114,462
Office and other expenses 396,229 739,643
Total cost of revenue, administrative expenses and selling expenses $ 5,038,237 $ 3,827,594
v3.24.4
Expenses by Nature - Schedule of Service Category (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Advisory and Transaction Services [Member]    
Schedule of Service Category [Line Items]    
Total revenues
Corporate Business Training Services [Member]    
Schedule of Service Category [Line Items]    
Total revenues 257,121 674,499
Corporate Consulting Services [Member]    
Schedule of Service Category [Line Items]    
Total revenues 724,268 72,162
Others [Member]    
Schedule of Service Category [Line Items]    
Total revenues
v3.24.4
Expenses by Nature - Schedule of Payroll and Employee Benefits (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Schedule of Payroll and Employee Benefits [Abstract]    
Salaries, allowances, bonus, benefits and in kind $ 1,150,087 $ 1,270,038
Contributions to defined contribution retirement plan
Share based payments 1,773,600
Payroll and employee benefits incurred and classified as cost of revenue $ 230,241 $ 285,087
v3.24.4
Expenses by Nature - Schedule of Depreciation and Amortization (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Schedule of Depreciation and Amortization [Abstract]    
Property and equipment $ 43,960 $ 13,129
Intangible assets 4,701 26,656
Right of use assets $ 106,548 $ 105,162
v3.24.4
Loss per share - Schedule of Basic and Diluted Net Loss Per Share (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Numerator:    
Net loss attributable to Top KingWin’s shareholders (in Dollars) $ (3,660,825) $ (1,078,673)
Denominator:    
Weighted average number of ordinary shares outstanding basic [1] 17,750,000 13,115,278
Weighted average number of ordinary shares outstanding diluted [1] 17,750,000 13,115,278
Denominator for basic net loss per share calculation 17,750,000 13,115,278
Denominator for diluted net loss per share calculation 17,750,000 13,115,278
Basic net loss per share attributable to ordinary shareholders of Top KingWin’s shareholders (in Dollars per share) [1] $ (0.21) $ (0.08)
Diluted net loss per share attributable to ordinary shareholders of Top KingWin’s shareholders (in Dollars per share) [1] $ (0.21) $ (0.08)
[1] Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023
v3.24.4
Property, Equipment and Intangible Assets (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Property, Equipment and Intangible Assets [Abstract]    
Property, equipment and intangible assets $ (35,451) $ (4,015,531)
v3.24.4
Business Combination and Goodwill (Details)
 6 Months Ended
Jun. 30, 2024
USD ($)
Business combination and goodwill [Line Items]  
Total cash transfer consideration $ 4,000,000
Impairment loss of goodwill
Sky KingWin Ltd [Member]  
Business combination and goodwill [Line Items]  
Acquire equity interest 100.00%
Insights Consulting LTD [Member]  
Business combination and goodwill [Line Items]  
Acquire equity interest 100.00%
v3.24.4
Business Combination and Goodwill - Schedule of Purchase Price Allocation to Assets Acquired and Liabilities (Details) - Business Combination [Member]
Jun. 30, 2024
USD ($)
Schedule of Purchase Price Allocation to Assets Acquired and Liabilities [Line Items  
Cash acquired $ 28,320
Accounts receivable, net 97,271
Prepayments 10,095
Other receivables, net 1,128,868
Property and equipment, net 4,906
Intangible assets, net 7,796
Accounts payable (120,591)
Advance from clients (1,822)
Accrued expenses and other payables (128,693)
Goodwill 2,973,850
Total consideration $ 4,000,000
v3.24.4
Share-based payments (Details) - Equity Incentive Plan [Member] - USD ($)
 1 Months Ended 6 Months Ended
May 01, 2024
Apr. 30, 2024
Jun. 30, 2024
Share-based payments [Line Items]      
Exercise price $ 0.5911    
Share-based compensation     $ 1,773,300
Common Class A [Member]      
Share-based payments [Line Items]      
Granted shares   3,000,000  
v3.24.4
Equities Roll Forward Schedule - Schedule of Equities Roll Forward Schedule (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance $ 7,404,952  
Net loss (3,660,825) $ (1,078,673)
Share-based payments 1,741,478  
Foreign currency translation adjustment (41,646)  
Balance $ 5,443,959  
Class A [Member]    
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance (in Shares) [1] 13,963,040  
Balance (in Shares) [1] 10,963,040  
Class B [Member]    
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance (in Shares) 3,786,960  
Balance (in Shares) 3,786,960  
Ordinary Shares [Member] | Class A [Member]    
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance (in Shares) 10,963,040  
Balance $ 1,096  
Share-based payments (in Shares) 3,000,000  
Share-based payments $ 300  
Balance (in Shares) 13,963,040  
Balance $ 1,396  
Ordinary Shares [Member] | Class B [Member]    
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance (in Shares) 3,786,960  
Balance $ 379  
Balance (in Shares) 3,786,960  
Balance $ 379  
Additional paid-in capital [Member]    
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance 8,275,034  
Share-based payments 1,741,178  
Balance 10,016,212  
Statutory Reserves [Member]    
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance 282,545  
Balance 282,545  
(Accumulated deficits) earnings [Member]    
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance (928,311)  
Net loss (3,660,825)  
Balance (4,589,136)  
Accumulated other comprehensive income (loss) [Member]    
Schedule of Equities Roll Forward Schedule [Line Items]    
Balance (225,791)  
Foreign currency translation adjustment (41,646)  
Balance $ (267,437)  
[1] Giving retroactive effect to the nominal issuance of shares effected on January 10, 2023
v3.24.4
Material Related Party Transactions - Schedule of Related Party Transactions or Balances with the Company (Details)
 6 Months Ended
Jun. 30, 2024
Guangzhou Tiancheng Capital Management Group Co., Ltd. (“Tiancheng Capital”) [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company The former shareholder of Tiancheng Jinhui from June 18, 2020 to June 30, 2022. And as of December 31, 2023, Mr. Ruilin Xu still holds 48.62% equity interest in Guangzhou Tiancheng Capital Management Group Co., Ltd. (“Tiancheng Capital”). The Company provided advisory and transaction services for Tiancheng Capital.
Mr. Ruilin Xu [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company The Company’s Chief Executive Officer and director, paid certain professional fees or salaries on behalf of the company.
Mr. Siqi Cao [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company The Company’s director, paid certain professional fees on behalf of the Company.
Shenzhen CIC Consulting Co., Ltd.[Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Mr. Zhiliang Hu holds 30% equity interest in Shenzhen Zhongtou Business Consulting Co., Ltd.
Shenzhen Zhongtou Shunshi Investment Management Co.,Ltd. [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Shunshi Investment Management Co.,Ltd.
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.,Ltd.[Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Both Mr. Zhiliang Hu and Ms. Xiaohuang Hong each hold a 50% equity interest in Shenzhen Zhongtou Big Data Technology Co., Ltd. Additionally, Ms. Xiaohuang Hong holds a 50% equity interest in Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co., Ltd.
Shenzhen Zhongtou Industrial Planning & Consulting Co.,Ltd.[Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Industrial Planning & Consulting Co.
Shenzhen Zhongtou Big Data Technology Co.,Ltd.[Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Both Mr. Zhiliang Hu and Ms. Xiaohuang Hong each hold a 50% equity interest in Shenzhen Zhongtou Big Data Technology Co., Ltd.
Ms. Li Qian [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Ms. Li Qian is the spouse of Mr. Zhiliang Hu.
Shenzhen Zhongtou Industrial Treasure Network Co.,Ltd.[Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Industrial Treasure Network Co.
Mr. Zhiliang Hu [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Mr. Zhiliang Hu holds 50% equity interest in Shenzhen Zhongtou Shunshi Investment Management Co., Ltd.
Infinity worldwide holding.,Ltd. [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Infinity worldwide holding., Ltd is the shareholders of the company and holds 2.847% interest rights.
Shaanxi Tiancheng Jinhui Investment Co., Ltd. (Formally known as “Shaanxi Tiancheng Enterprise Management Consulting Co., Ltd.”) [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Shaanxi Tiancheng Jinhui Investment Co., Ltd. is one of the Company’s suppliers, and Tiancheng Capital holds 52% equity interest in the party until December 8, 2021.
Guangzhou Tianyi Technology Co., Ltd. (Formally known as “Tiancheng New Retail Investment Holding (Guangdong) Co., Ltd.”) [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Guangzhou Tianyi Technology Co., Ltd. is one of the Company’s suppliers, and Tiancheng Capital holds 51% equity interest in the party since March 3, 2020.
Shenzhen Investment Consulting Co., Ltd. [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company As of September 13, 2024, Mr. Zhiliang Hu hold 30% equity interest in Shenzhen Investment Consulting Co., Ltd.
Mr. Guangyuan Wei [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company As of November 5, 2024, Mr. Guangyuan Wei is the CEO and Chairman of Chongqing Tiancheng Jinhui Enterprise Management Consulting Co., Ltd.
Mr. Hongqing Zhang [Member]  
Related Party Transaction [Line Items]  
Relationship with the Company Mr. Hongqing Zhang is the supervisors of Guangdong Tiancheng Jinhui Enterprise Development Group Co., Ltd.
v3.24.4
Material Related Party Transactions - Schedule of Key Management Personnel Compensation (Details) - USD ($)
 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Schedule of Key Management Personnel Compensation [Abstract]    
Short-term employment benefits (excluding discretionary bonus) $ 134,885 $ 134,652
Discretionary bonus 3,004 10,474
Share based payments $ 1,773,600
v3.24.4
Material Related Party Transactions - Schedule of Balances with Related Party (Details) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
Accounts payable-related party    
Accounts payable-related party $ 9,977 $ 146,903
Guangzhou Tiancheng Capital Management Group Co., Ltd. [Member]    
Accounts payable-related party    
Accounts payable-related party 9,977 146,903
Shenzhen CIC Consulting Co., Ltd.[Member]    
Due from related parties    
Due from related parties 502,314
Shenzhen Zhongtou Shunshi Investment Management Co.[Member]    
Due from related parties    
Due from related parties 131,252 357,967
Shenzhen Qianhai Jingwei Wisdom Investment Consultant Co.[Member]    
Due from related parties    
Due from related parties 16,788 29,958
Due to related parties    
Due to related parties 2,817
Shenzhen Zhongtou Industrial Planning & Consulting Co.[Member]    
Due from related parties    
Due from related parties 45,809 101,692
Due to related parties    
Due to related parties 10,578
Shenzhen Zhongtou Big Data Technology Co.[Member]    
Due from related parties    
Due from related parties 16,334 25,606
Mr. Guangyuan Wei [Member]    
Due from related parties    
Due from related parties 1,238
Ms. Li Qian [Member]    
Due from related parties    
Due from related parties 12,253
Due to related parties    
Due to related parties 24,226
Mr. Zhiliang Hu [Member]    
Due from related parties    
Due from related parties 2,336
Due to related parties    
Due to related parties 14,105
Shenzhen Investment Consulting Co., Ltd. [Member]    
Due from related parties    
Due from related parties 218,953
Shenzhen Zhongtou Industrial Treasure Network Co.[Member]    
Due from related parties    
Due from related parties 40,538 86,973
Due to related parties    
Due to related parties 25,775
Mr. Hongqing Zhang [Member]    
Due from related parties    
Due from related parties 1,268
Related Party [Member]    
Due from related parties    
Due from related parties 472,180 1,119,099
Due to related parties    
Due to related parties 163,814 213,789
Mr. Ruilin Xu (the Company’s Chief Executive Officer) [Member]    
Due to related parties    
Due to related parties 29,035 29,719
Infinity worldwide holding ltd [Member]    
Due to related parties    
Due to related parties $ 120,674 $ 120,674
v3.24.4
Subsequent Event (Details) - Forecast [Member] - USD ($)
Sep. 05, 2025
Jan. 14, 2025
Dec. 30, 2024
Nov. 26, 2024
Nov. 25, 2024
Subsequent Event [Line Items]          
Annual interest rate         11.75%
Discount rate         10.00%
Cash consideration (in Dollars)     $ 480,000    
Penalty percentage   1.00%      
Top KingWin Ltd [Member]          
Subsequent Event [Line Items]          
Sale of stock value (in Dollars) $ 38,000,000        
Convertible Notes [Member]          
Subsequent Event [Line Items]          
Principal amount (in Dollars)       $ 2,500,000  
Class A Ordinary Shares [Member]          
Subsequent Event [Line Items]          
Ordinary shares, par value (in Dollars per share) $ 0.0001        
Purchase price per share (in Dollars per share) $ 0.23        
Restricted shares issued 165,217,391        
Ordinary share issued 179,180,431        
Ordinary share outstanding 179,180,431        
Class B Ordinary Shares [Member]          
Subsequent Event [Line Items]          
Ordinary shares, par value (in Dollars per share) $ 0.0001        
Ordinary share issued 3,786,960        
Ordinary share outstanding 3,786,960        
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