{"url_path":"/sec/twg/10-k/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"20-F","doc_date":"2026-05-15","source_url":"https://www.sec.gov/Archives/edgar/data/1978057/0001213900-26-057962-index.html","accession_number":"0001213900-26-057962","cik":"0001978057","ticker":"TWG","issuer_name":"Top Wealth Group Holding Ltd","edgar_url":"https://www.sec.gov/Archives/edgar/data/1978057/0001213900-26-057962-index.html","primary_entity_key":"0001978057","primary_entity_name":"Top Wealth Group Holding Ltd"},"word_count":890,"has_tables":true,"body_markdown":"** **\n\n**UNITED STATES\nSECURITIES AND EXCHANGE COMMISSION\nWashington, D.C. 20549**\n\n \n\n**FORM 20-F**\n\n \n\n**(Mark One)**\n\n☐ **REGISTRATION STATEMENT PURSUANT\nTO SECTION 12(B) OR 12(G) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**OR**\n\n \n\n☒ **ANNUAL REPORT PURSUANT TO SECTION 13\nOR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For the fiscal year ended December 31, 2025**\n\n \n\n**OR**\n\n \n\n☐ **TRANSITION REPORT PURSUANT TO\nSECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**OR**\n\n \n\n☐ **SHELL COMPANY REPORT PURSUANT\nTO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**For the transition period from            to            **\n\n \n\n**Commission file number: 001-42014**\n\n \n\n**TOP WEALTH GROUP HOLDING LIMITED**\n\n(Exact name of Registrant as specified in its\ncharter)\n\n \n\n**Cayman Islands**\n\n(Jurisdiction of incorporation or organization)\n\n \n\n**Units 714 & 715, Hong Kong\nPlaza**\n\n**188 Connaught Road West\nHong Kong**\n\n(Address of principal executive offices)\n\n \n\n**Telephone: +852 36158567**\n\n**Email:ir@topwealth.cc**\n\n**Units 714 & 715, Hong Kong\nPlaza**\n\n**Connaught Road West\nHong Kong**\n\n(Name, Telephone, E-mail and/or Facsimile number\nand Address of Company Contact Person)\n\n \n\nSecurities registered or to be registered pursuant\nto Section 12(b) of the Act:\n\n \n\n**Title of each class**   **Trading Symbol(s)**   **Name of each exchange on which registered**\n\nClass A Ordinary Shares, par value $0.009 per share   TWG   The Nasdaq Stock Market LLC (Nasdaq Capital Market)\n\n \n\nSecurities registered or to be registered pursuant\nto Section 12(g) of the Act: **None**\n\n \n\nSecurities for which there is a reporting obligation\npursuant to Section 15(d) of the Act: **None**\n\n \n\n \n\nIndicate the number of outstanding shares of each\nof the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 1,427,901 shares\nof Class A ordinary shares issued and outstanding and 166,667 Class B ordinary shares issued and outstanding as of December 31, 2025.\n\n \n\nIndicate by check mark if the registrant is a\nwell-known seasoned issuer, as defined in Rule 405 of the Securities Act.\n\n \n\n☐ Yes ☒ No\n\n \n\nIf this report is an annual or transition report,\nindicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities\nExchange Act of 1934.\n\n \n\n☐ Yes ☒ No\n\n \n\nIndicate by check mark whether the registrant:\n(1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the\npreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been\nsubject to such filing requirements for the past 90 days.\n\n \n\n☒ Yes ☐ No\n\n \n\nIndicate by check mark whether the registrant\nhas submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted\npursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such\nshorter period that the registrant was required to submit and post such files).\n\n \n\n☒ Yes ☐ No\n\n \n\nIndicate by check mark whether the registrant\nis a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company. See definition of “large\naccelerated filer,” “accelerated filer,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer ☐   Accelerated filer ☐   Non-accelerated filer ☒\n\n        Emerging growth company ☒\n\n \n\nIf an emerging growth company that prepares its\nfinancial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition\nperiod for complying with any new or revised financial accounting standards† provided pursuant to Section 13(a) of the Exchange\nAct. ☐\n\n \n\nIndicate by check mark whether the registrant\nhas filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial\nreporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or\nissued its audit report. ☐\n\n \n\nIndicate by check mark which basis of accounting\nthe registrant has used to prepare the financial statements included in this filing:\n\n \n\nU.S. GAAP ☒   International Financial Reporting Standards as issued   Other ☐\n\n    by the International Accounting Standards Board ☐    \n\n \n\nIf “Other” has been checked in response\nto the previous question, indicate by check mark which financial statement item the registrant has elected to follow.\n\n \n\n☐ Item 17 ☐ Item 18\n\n \n\nIf securities are registered pursuant to Section\n12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction\nof an error to previously issued financial statements. ☐\n\n \n\nIndicate by check mark whether any of those error\ncorrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s\nexecutive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐\n\n \n\nIf this is an annual report, indicate by check\nmark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).\n\n \n\n☐ Yes ☒ No\n\n \n\n(APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY\nPROCEEDINGS DURING THE PAST FIVE YEARS)\n\n \n\nIndicate by check mark whether the registrant\nhas filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Securities Exchange Act of 1934\nsubsequent to the distribution of securities under a plan confirmed by a court.\n\n \n\n☐ Yes ☐ No\n\n \n\n \n\n \n\n \n\n**Table of Contents**\n\n \n\n \n \n \n \n**Page**\n\n[**PART\nI**](#a_001)"}