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EPSIUM ENTERPRISE LIMITED (NASDAQ: EPSM) is a holding company that imports and wholesales premium alcoholic beverages. Through its Macau operating entity, Companhia de Comercio Luz Limitada (established in 2010), EPSIUM distributes Chinese liquor, French cognac, Scottish whisky, fine wines, and other spirits across China, France, Chile, Australia, the United States, and Scotland. Its portfolio includes brands such as Moutai, Xijiu, Wuliangye, Rémy Martin, Macallan, Petrus, and Lafite.
Corporate structure
Headquartered in St. Louis, Missouri for its U.S. operations and in Macau for its core business, EPSIUM employs between 11 and 50 staff globally. The company is led by CEO Son I Tam and is listed on the Nasdaq Capital Market. In August 2025, shareholders approved amendments to its corporate charter, creating two classes of ordinary shares (Class A and Class B) to enhance governance flexibility.
Alcoholic beverages by Andrea Tummons
Developments and news
On March 25, 2025, EPSIUM priced an initial public offering of 1,250,000 ordinary shares at US$4.00 per share, expected to close on March 27, 2025. Gross proceeds of US$5.0 million were earmarked as follows:
- 10% for sales, product innovation, and brand building
- 60% for complementary acquisitions or investments
- 20% for general corporate purposes
- 10% for reserves
An Extraordinary General Meeting held on August 22, 2025, approved a third amendment and restatement of the Memorandum and Articles of Association, effective August 27, 2025. On September 8, 2025, EPSIUM filed a Form 6-K reporting the EGM outcomes and share structure changes. A subsequent Form 6-K on September 10, 2025, addressed unusual trading activity, clarifying it did not reflect any changes in business fundamentals.
As of October 2, 2025, EPSM closed at US$15.2777, reflecting a 31.93% increase on volume of 691,485 shares.
Financial and strategic aspects
For the twelve months ended mid-2025, EPSIUM reported:
- Revenue: US$12.52 million (a decrease of 57.12% from US$29.20 million)
- Net income attributable to common shareholders: US$274,857 (a decrease of 92.52%)
- Profit margin: 2.20%
- Return on assets (ttm): 2.38%
- Return on equity (ttm): 3.54%
- Diluted EPS (ttm): US$0.02
- Trailing P/E ratio: 784.00
Balance sheet and cash flow metrics (most recent quarter):
- Total cash: US$193,830
- Total debt/equity: 2.02%
- Levered free cash flow (ttm): –US$1.19 million
The company intends to deploy its IPO proceeds toward expanding sales channels, product innovation, strategic acquisitions, and general corporate needs.
Market position and industry context
Operating in the food and beverage services sector, EPSIUM is a wholesaler of high-end Chinese liquor in Macau and a distributor of global premium brands. Its valuation multiples—trailing P/E of 515.35 and price-to-sales of 11.32—reflect competitive dynamics in a brand-driven market. Consumer preferences, regional regulations, and distribution partnerships continue to shape the industry’s dynamics.
tl;dr
On October 2, 2025, EPSIUM shares increased 31.93% to US$15.2777 amid significant trading volume. Since its March 26 IPO raising US$5.0 million, the company realigned its share structure in August and addressed market speculation via a September 10 Form 6-K. Fiscal 2025 figures indicate a 57% drop in revenue and a 93% decline in net income, with slim profit margins and elevated valuation multiples. IPO funds are allocated for brand expansion, acquisitions, and corporate purposes as EPSIUM pursues growth in the premium beverage sector.
