Epsium Enterprise Limited announced that its current Chief Financial Officer, Ming Yin Au Yeung, stepped down effective April 30 2026, and that Mr. Wong Ching Wan will assume the CFO role on May 1 2026.
Mr. Wong brings more than two decades of experience in financial reporting, internal controls and regulatory compliance. Prior to joining Epsium, he served as CFO and Head of Reporting at Intelligent Living Application Group Inc. and as CFO and Director at Fuqi International, Inc., where he managed SEC compliance and cross‑border financial reporting for U.S. and Hong Kong listed companies.
Epsium’s financial performance has deteriorated sharply since its Nasdaq listing in March 2025. In fiscal year 2025 the company reported net revenue of approximately $5.1 million, a decline from $12.5 million in fiscal year 2024, and a net loss of about $1.5 million versus a net income of $284,694 in 2024. The company’s stock has fallen 83 % over the past year, and it posted a net loss of $0.07 per share for the last twelve months.
The company’s business model is characterized by a weak competitive moat, limited scale, and high advertising and promotion expenses that make it capital‑intensive. Operating as a public company has also increased general and administrative costs, adding pressure to profitability.
Son I Tam, Chairman and CEO, welcomed Mr. Wong, saying, “His experience in SEC reporting and cross‑border financial compliance will support our continued development as a Nasdaq‑listed company and further strengthen our financial reporting and internal control framework.” Mr. Wong added, “I am pleased to join Epsium and look forward to working with the management team to enhance financial discipline and support the Company’s ongoing development.”
The appointment of Mr. Wong is a strategic move to reinforce Epsium’s financial reporting and internal control systems amid ongoing financial headwinds. By bringing in a seasoned compliance professional, the company aims to address past reporting challenges, improve transparency for investors, and position itself for sustainable growth as it navigates the demands of a public‑company status and a highly competitive premium‑alcohol distribution market.
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