中概股收盘涨幅居前的个股为：罗马绿色金融涨44.36%，一建筑集团涨43.73%，Tianci International涨 41.77%，TNL Mediagene涨35.19%，思享无限涨31.25%。(格隆汇) | 代码 | 名称 | 最新价 | 涨跌幅 √ | 涨跌额 | 成交额 | | --- | --- | --- | --- | --- | --- | | ROMA | 罗马绿色金融 | 3.970 | 44.36% | +1.220 | 296.98万 | | ONEG | 一建筑集团 | 4.700 | 43.73% | +1.430 | 411.94万 | | CIIT | Tianci International | 0.6153 | 41.77% | +0.1813 | 265.52万 | | TNMG | TNL Mediagene | 4.380 | 35.19% | +1.140 | 84.82万 | | ਟੀ | 思享无限 | 1.470 | 31.25% | +0.350 | 35.19万 | ...

Revenue and Profitability - Revenue from logistics operations increased by 16.5% to $3,215,881 for the quarter ended October 31, 2025, compared to the same period in 2024[2] - The cost of revenue for logistics operations rose by 18.9%, leading to a decrease in gross profit margin from 6.12% to 4.17%[2] - The company recorded a net loss of $268,874 for the quarter, representing a 192% increase in net loss compared to the previous year[4] - Initial mineral sales generated $505,465 in revenue with a gross profit margin of 32.51%[3] - Total operating revenues for the quarter reached $3,818,227, a 28% increase quarter-to-quarter[8] Expenses and Cash Flow - Cash balance decreased by $727,403 to $1,677,949, primarily due to $582,912 spent on expanding mineral ore inventory[5] - General and administrative expenses surged by 134% to $608,648, up from $260,393 in the same quarter of 2024[8] Strategic Focus - The company aims to shift focus towards long-distance shipping lines to improve profit margins[3] - The company plans to utilize optimized bulk vessel and container shipping for its new mineral trade operations[7] Working Capital - Working capital as of October 31, 2025, was $2,636,809[5]

Core Insights - Tianci International, Inc. reported a 16.5% increase in logistics revenue for the quarter ended October 31, 2025, compared to the same period in 2024, accounting for 84% of total revenue [3] - The company faced a 18.9% rise in the cost of revenue, leading to a decrease in gross profit margin from 6.12% to 4.17% [3] - A net loss of $268,874 was recorded for the quarter, representing a 192% increase in losses compared to the previous year [5][10] Financial Results - Revenue from logistics operations increased by 16.5% year-over-year, while total revenue saw a quarter-to-quarter increase of 28% [3][10] - The cost of revenue rose by 18.9%, influenced by tariff concerns and increased shipping prices in Southeast Asia [3] - Gross profit margin for logistics operations decreased to 4.17% from 6.12% in the previous year [3] Strategic Initiatives - To counter declining demand in Southeast Asia, the company plans to focus on long-distance shipping lines, which typically offer higher profit margins [4] - Tianci has begun accumulating inventory of bulk chrome and manganese ore, generating $505,465 in revenue with a gross profit margin of 32.51% from initial mineral sales [4] - The company aims to leverage its resource control and supply chain integration capabilities to reduce reliance on local shipping demand [4] Operational Performance - General and administrative expenses surged by 134%, increasing from $260,393 to $608,648 year-over-year [5][10] - Cash balance decreased by $727,403, primarily due to investments in mineral ore inventory [6] - Working capital stood at $2,636,809 as of October 31, 2025 [6]

Revenue Growth - Total revenue for the three months ended October 31, 2025, increased by 28% to $3,818,227 from $2,980,940 in the same period of 2024, driven by the launch of the global mineral trading business [131]. - Revenue from the global logistics services rose by 16% to $3,215,881, representing 84% of total revenue, while mineral trading contributed $505,465, accounting for approximately 13% of total revenue [132]. Cost and Expenses - Cost of revenues increased by 25% to $3,433,976, primarily due to the new mineral trading business, with logistics service costs rising by 19% to $3,081,657 [136]. - General and administrative expenses surged by 134% to $608,648, attributed to increased audit, accounting, and Nasdaq listing expenses [139]. - Selling and marketing expenses decreased by 48% to $44,410, reflecting efforts to reduce reliance on brokers for business development [140]. Profitability and Loss - Gross profit for the three months ended October 31, 2025, increased by 68% to $384,251, with an overall gross profit margin of 10.06%, up from 7.66% in the prior year [131][138]. - The net loss attributable to the company for the three months ended October 31, 2025, was $268,098, a 188% increase compared to a net loss of $93,056 in the same period of 2024 [131]. - The company incurred a net loss of $268,874 for the three months ended October 31, 2025, compared to a net loss of $91,948 for the same period in 2024 [142]. Business Operations - The company has expanded into the global trade of bulk chrome and manganese ore, aiming to create synergies with its logistics business [126]. - The logistics business is primarily conducted in Hong Kong and the Asia-Pacific region, with plans to enhance service offerings to African countries [124]. - The company does not own transportation assets, adopting an asset-light strategy to drive growth in logistics revenue since 2023 [124]. - The company started providing shipping and freight forwarding services in 2023 and entered the global mineral trading business during the recent quarter [145]. Cash Flow and Working Capital - Working capital as of October 31, 2025, was $2,636,809, primarily consisting of cash amounting to $1,677,949 from a public offering [143]. - The company used $727,403 in operating activities for the three months ended October 31, 2025, primarily due to a net loss and increases in inventory and accounts receivable [148]. - There were no investing activities reported for the three months ended October 31, 2025 or 2024 [150]. - Net cash used in financing activities was nil for the three months ended October 31, 2025, compared to $74,125 in 2024, related to public offering fees [151]. - A net cash change of $(727,403) was reported for the three months ended October 31, 2025, compared to $(89,336) in 2024 [147]. Future Outlook - The company may require significant capital expenditure for market share development in its new business ventures [145]. - The company believes its liquidity and working capital will be sufficient for the next twelve months, but may need additional cash resources for future investments or acquisitions [144]. - The company had no accounting estimates subject to a high degree of uncertainty that were critical to its results for the three months ended October 31, 2025 [153].

Core Insights - Tianci International, Inc. reported its financial results for the fiscal year ending July 31, 2025, highlighting significant developments in its operations [1] Financial Performance - The company raised net proceeds of $5,217,937 from a public offering of 1,750,000 shares of common stock [1]

Fiscal Year 2025 Financial Results Overview [Highlights of Fiscal Year 2025](index=1&type=section&id=Fiscal%20Year%202025%20Highlights) Tianci International reported 8% logistics revenue growth but a $2.69 million net loss due to higher costs and Nasdaq listing expenses, prompting a strategic shift - Revenue from logistics operations increased by **8% in FY2025**[3](index=3&type=chunk) - Cost of revenue increased by **17%** from FY2024 to FY2025, leading to a decrease in gross profit margin from **12.24% to 4.85%**[3](index=3&type=chunk) - Operating expenses increased from **$886,876 in fiscal year 2024 to $3,158,038 in fiscal year 2025**, primarily due to transactions related to the Company's listing on Nasdaq[7](index=7&type=chunk) - The Company incurred a net loss of **$2,686,357 in fiscal 2025**, after recording net income of $110,320 in fiscal 2024[7](index=7&type=chunk) - The Company intends to reorient its focus towards long-distance shipping lines, which generally produce higher profit margins, and is accumulating inventory for global commodity trade[4](index=4&type=chunk) - Completed a public offering of **1,750,000 common shares** for net proceeds of **$5,217,937**, resulting in working capital of **$2,906,601** at July 31, 2025[5](index=5&type=chunk)[7](index=7&type=chunk) - The Company's common stock was listed for trading on the Nasdaq Capital Market[7](index=7&type=chunk) [About Tianci International, Inc.](index=1&type=section&id=About%20Tianci%20International%2C%20Inc.) Tianci International, through its subsidiary Roshing, provides global logistics services specializing in ocean freight forwarding, operating under an asset-light model across Asia-Pacific - Tianci International Inc., through its subsidiary Roshing, provides global logistics services specializing in ocean freight forwarding, including container and bulk goods shipping[6](index=6&type=chunk) - Operates under an asset-light model, with logistics solutions tailored for customers across the Asia-Pacific, including Japan, South Korea, and Vietnam[6](index=6&type=chunk) - Generates revenue from the sale of electronic parts and business consulting services in addition to logistics[6](index=6&type=chunk) - Company's mission is to provide customers with efficient, reliable, and safe shipping services that create value[6](index=6&type=chunk) Financial Statements [Consolidated Balance Sheets](index=3&type=section&id=Consolidated%20Balance%20Sheets) As of July 31, 2025, total assets significantly increased to $3.15 million, driven by cash and lease assets, while stockholders' equity rose to $2.99 million from public offerings despite an accumulated deficit | Item | July 31, 2025 | July 31, 2024 | Change (YoY) | | :-------------------------------- | :-------------- | :-------------- | :------------- | | **ASSETS** | | | | | Total current assets | $3,003,252 | $910,305 | +230% | | Total non-current assets | $142,719 | $1,656 | +8511% | | **TOTAL ASSETS** | **$3,145,971** | **$911,961** | **+245%** | | **LIABILITIES** | | | | | Total current liabilities | $97,651 | $121,951 | -20% | | Total liabilities | $159,054 | $121,951 | +30% | | **STOCKHOLDERS' EQUITY** | | | | | Total stockholders' equity | $2,986,917 | $790,010 | +278% | - Cash increased significantly from **$413,129 in 2024 to $2,405,352 in 2025**[12](index=12&type=chunk) - Additional paid-in capital surged from **$962,416 in 2024 to $5,845,505 in 2025**, reflecting capital raised from public offerings[12](index=12&type=chunk) - Accumulated deficit increased from **$(222,071) in 2024 to $(2,862,860) in 2025**[12](index=12&type=chunk) [Consolidated Statements of Operations](index=4&type=section&id=Consolidated%20Statements%20of%20Operations) For FY2025, Tianci International reported an 8% revenue increase to $9.28 million, but a 16.8% rise in cost of revenues and a 256% surge in operating expenses led to a $2.69 million net loss, reversing the prior year's net income | Item | 2025 | 2024 | Change (YoY) | | :------------------------------------- | :----------- | :----------- | :------------- | | Total Operating Revenues | $9,282,997 | $8,617,265 | +8% | | Total Cost of Revenues | $8,832,874 | $7,562,086 | +16.8% | | Gross profit | $450,123 | $1,055,179 | -57.4% | | Total operating expenses | $3,158,038 | $886,876 | +256% | | Income (loss) from operations | $(2,707,915) | $168,303 | N/A (loss from income) | | Net income (loss) | $(2,686,357) | $110,320 | N/A (loss from income) | | Net income (loss) attributable to TIANCI INTERNATIONAL, INC. | $(2,640,789) | $54,450 | N/A (loss from income) | | Basic and diluted Income (loss) per common share | $(0.17) | $0.01 | N/A (loss from income) | - Global logistics services revenue increased from **$8,320,402 in 2024 to $9,006,407 in 2025**[14](index=14&type=chunk) - General and administrative expenses significantly increased from **$520,884 in 2024 to $2,927,260 in 2025**, contributing to the net loss[14](index=14&type=chunk) [Consolidated Statements of Cash Flows](index=6&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) In fiscal year 2025, Tianci International experienced a significant net cash outflow of $(3.23) million from operating activities, offset by a substantial $5.22 million inflow from financing activities, primarily public offerings, resulting in a net cash increase of $1.99 million and an ending cash balance of $2.41 million | Item | 2025 | 2024 | Change (YoY) | | :------------------------------------- | :----------- | :----------- | :------------- | | Net cash (used in) provided by operating activities | $(3,225,714) | $112,740 | N/A (outflow from inflow) | | Net cash provided by financing activities | $5,217,937 | $44,047 | +11744% | | Net increase in cash | $1,992,223 | $156,787 | +1171% | | Cash, ending | $2,405,352 | $413,129 | +482% | - Net loss of **$(2,686,357)** was a primary factor for the negative operating cash flow[17](index=17&type=chunk) - Proceeds received from public or private offerings totaled **$5,439,333 in 2025**, significantly boosting financing cash flow[17](index=17&type=chunk) Additional Information [Forward-Looking Statements](index=2&type=section&id=Forward-Looking%20Statements) This report contains forward-looking statements subject to known and unknown risks and uncertainties, where actual results may differ materially from expectations, and the Company disclaims any obligation to update them unless legally required - Forward-looking statements involve known and unknown risks and uncertainties, based on current expectations and projections[8](index=8&type=chunk) - Actual results may differ materially from anticipated results[8](index=8&type=chunk) - The Company undertakes no obligation to update or revise publicly any forward-looking statements, except as may be required by law[8](index=8&type=chunk) - Investors are encouraged to review other factors that may affect future results discussed in the Company's filings with the U.S. Securities and Exchange Commission[8](index=8&type=chunk) [Investor and Media Inquiries](index=2&type=section&id=Investor%20and%20Media%20Inquiries) For investor and media inquiries, contact Tianci International, Inc. Investor Relations via email, and refer to the audited financial statements filed with the SEC on Form 10-K for further details - For investor and media inquiries, contact Tianci International, Inc. Investor Relations via email: ir@rqscapital.com[9](index=9&type=chunk) - Financial information should be read in conjunction with audited financial statements and notes filed on Form 10-K for the period ended July 31, 2025, available on www.sec.gov and www.tianci-ciit.com[9](index=9&type=chunk)

PART I [Item 1. Business Overview](index=4&type=section&id=Item%201.%20Business) Tianci International, Inc. primarily offers global logistics services through Roshing, focusing on ocean freight and mineral trade, with minor other revenues and global expansion plans - Tianci International, Inc. completed a reverse acquisition of RQS United Group Limited on March 6, 2023, transforming into a company primarily engaged in global logistics services through its subsidiary Roshing[13](index=13&type=chunk)[15](index=15&type=chunk)[274](index=274&type=chunk) - Roshing provides global logistics services, including ocean freight forwarding (container and bulk goods shipping) and related solutions, utilizing an asset-light strategy by chartering cargo space from suppliers[16](index=16&type=chunk)[17](index=17&type=chunk)[18](index=18&type=chunk) - The company is launching a global mineral trade business, accumulating high-grade industrial metals inventory, and intends to integrate ore distribution with existing shipping operations for end-to-end supply chain solutions[18](index=18&type=chunk)[223](index=223&type=chunk) - Roshing's business is primarily conducted in Hong Kong and the Asia-Pacific region (Japan, South Korea, Vietnam), with strategic plans to expand services to other continents like South America and Africa[18](index=18&type=chunk)[221](index=221&type=chunk)[51](index=51&type=chunk) - Other revenue streams, including the sale of electronic parts, software technical services, and business consulting services, represent a small portion of total revenue[19](index=19&type=chunk)[51](index=51&type=chunk)[222](index=222&type=chunk) Employee Count by Function (As of July 31) | Function | 2025 | 2024 | 2023 | | :------------------------- | :--- | :--- | :--- | | Senior Management | 7 | 7 | 3 | | Human Resources and Admin | 1 | 1 | 1 | | Finance | 1 | 1 | 1 | | Sales and Marketing | 4 | 2 | 2 | | Procurement | 0 | 0 | 1 | | Technical | 0 | 0 | 2 | | **TOTAL** | **13** | **11** | **10** | [Item 1A. Risk Factors](index=14&type=section&id=Item%201A.%20Risk%20Factors) The company faces significant risks in global logistics from geopolitical instability, intense competition, and volatile market conditions, alongside operational and compliance challenges - Geopolitical conditions, trade barriers, and international hostilities significantly impact the maritime transportation industry, potentially reducing global trade and increasing costs, thereby adversely affecting the company's logistics business[60](index=60&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) - The global logistics services industry is highly competitive, with larger firms possessing more resources, and failure to adapt to changing customer requirements or volatile market conditions could negatively impact margins and operating results[64](index=64&type=chunk)[67](index=67&type=chunk) - Roshing faces risks associated with shipment contents, potential product damage, transportation incidents, and contractual obligations with shipping suppliers, which could lead to financial costs, legal liability, and reputational damage[71](index=71&type=chunk)[75](index=75&type=chunk) - The company has a limited operating history, significant customer concentration (two customers accounted for **68.9% of revenue in FY2025**), and relies on a small number of employees, posing challenges to business growth and stability[95](index=95&type=chunk)[96](index=96&type=chunk) - Material weaknesses in internal control over financial reporting were identified, including inadequate segregation of duties and a lack of formal policies for reviewing significant accounting transactions, which could impair financial reporting and public disclosure[105](index=105&type=chunk)[109](index=109&type=chunk)[378](index=378&type=chunk)[383](index=383&type=chunk) - Operating primarily in Hong Kong exposes the company to risks from potential PRC government intervention, restrictions on fund transfers, changes in international trade policies, and the impact of the Hong Kong National Security Law, which could materially affect operations and stock value[124](index=124&type=chunk)[127](index=127&type=chunk)[132](index=132&type=chunk)[133](index=133&type=chunk) - The company has incurred IRS penalties for failure to file certain foreign-owned U.S. corporation information, highlighting risks of non-compliance with tax obligations and potential adverse effects from changes in tax laws[165](index=165&type=chunk)[166](index=166&type=chunk)[170](index=170&type=chunk) [Item 1B. Unresolved Staff Comments](index=38&type=section&id=Item%201B.%20Unresolved%20Staff%20Comments) This section states that there are no unresolved staff comments applicable to the company - The company has no unresolved staff comments[193](index=193&type=chunk) [Item 1C. Cybersecurity](index=38&type=section&id=Item%201C.%20Cybersecurity) Tianci International, Inc. has implemented a cybersecurity risk management program, overseen by its Board, with no material risks identified as of the filing date - The company has a cybersecurity risk management program integrated into its enterprise risk management, including risk assessment, a security team, external service providers, employee training, and an incident response plan[194](index=194&type=chunk)[195](index=195&type=chunk)[196](index=196&type=chunk)[197](index=197&type=chunk) - The Board of Directors and its Audit Committee oversee cybersecurity risks, with the Corporate Controller reporting to the CEO/CFO and the Board on the program's effectiveness and any identified flaws[199](index=199&type=chunk)[200](index=200&type=chunk)[201](index=201&type=chunk) - As of the filing date, no material risks from known cybersecurity threats have been identified that have affected operations, business strategy, results, or financial condition[198](index=198&type=chunk) [Item 2. Properties](index=39&type=section&id=Item%202.%20Properties) The company's principal executive office is located in Hong Kong under a rental agreement expiring in June 2027, deemed adequate for foreseeable operations - The principal executive office is located in Hong Kong, covering approximately **1,200 square feet**, under a rental service agreement expiring in June 2027[202](index=202&type=chunk) - Management believes the current leased property is sufficient for its operations in the foreseeable future[203](index=203&type=chunk) [Item 3. Legal Proceedings](index=39&type=section&id=Item%203.%20Legal%20Proceedings) Neither Tianci International nor its subsidiaries are currently party to any material pending legal proceedings - Neither Tianci International nor any of its subsidiaries are party to material pending legal proceedings[204](index=204&type=chunk) [Item 4. Mine Safety Disclosures](index=39&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) This section states that mine safety disclosures are not applicable to the company - Mine safety disclosures are not applicable to the company[205](index=205&type=chunk) PART II [Item 5. Market For Registrant's Common Equity, Related Stockholder Matters And Issuer Purchases Of Equity Securities](index=40&type=section&id=Item%205.%20Market%20For%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%20And%20Issuer%20Purchases%20Of%20Equity%20Securities) The company's common stock is thinly traded on Nasdaq, with **16,531,803 shares outstanding** as of October 3, 2025, and no anticipated cash dividends, while an Equity Incentive Plan authorizes **7,000,000 common shares** for future issuance - The Company's common stock is quoted on the Nasdaq Capital Market under the symbol "CIIT" and is thinly traded, which may make it difficult for investors to sell shares[207](index=207&type=chunk)[208](index=208&type=chunk) - As of October 3, 2025, there were **16,531,803 shares of common stock outstanding** and **127 stockholders of record**[7](index=7&type=chunk)[209](index=209&type=chunk) - The company does not anticipate paying any cash dividends in the foreseeable future, intending to retain and use future earnings for business development and expansion[184](index=184&type=chunk)[210](index=210&type=chunk) Securities Authorized for Issuance Under Equity Compensation Plans (As of July 31, 2025) | | Number of securities to be issued upon exercise of outstanding options, warrants and rights | Weighted average exercise price of outstanding options, warrants and rights | Number of securities remaining available for future issuance under equity compensation plans | | :--------------------- | :-------------------------------------------------------------------------- | :------------------------------------------------------------------------ | :----------------------------------------------------------------------------------------- | | Approved by security holders | 0 | N.A. | 7,000,000 | | Not approved by security holders | 0 | N.A. | 0 | | **Total** | **0** | **N.A.** | **7,000,000** | - The company did not make any sale of unregistered securities or repurchase any shares of its common stock during the 4th quarter of fiscal year 2025[213](index=213&type=chunk)[214](index=214&type=chunk) [Item 6. Climate – Related Disclosure](index=41&type=section&id=Item%206.%20Climate%20%E2%80%93%20Related%20Disclosure) This section states that climate-related disclosures are not applicable to the company

Revenue and Profitability - Revenue from logistics operations decreased by $19,882, representing a decline due to weakened demand for international shipping services, while overall revenue increased by $7,869 to $1,948,215 in Q3 2025 compared to Q3 2024 [3][8]. - Gross profit fell significantly from $277,707 in Q3 2024 to $57,983 in Q3 2025, attributed to increased shipping costs in serviced regions [4][12]. - The net loss for Q3 2025 increased to $959,409 from $38,797 in Q3 2024, largely driven by elevated general and administrative expenses [8][12]. - For the nine months ended April 30, 2025, the net loss was $1,162,328 compared to a net income of $55,805 for the same period in 2024 [14]. Expenses and Costs - General and administrative expenses surged from $134,473 in Q3 2024 to $960,583 in Q3 2025, primarily due to costs associated with the public offering [5][12]. - Net cash used in operating activities was $2,000,182, a significant decrease from the net cash provided of $121,476 in the prior year [14]. - The company incurred deferred offering costs of $219,125, slightly lower than $245,000 in the previous year [14]. Financing and Capital - The company completed a public offering of 1,750,000 common shares, raising net proceeds of $5,217,937, resulting in working capital of $4,509,290 as of April 30, 2025 [6][8]. - Cash increased to $3,630,884 as of April 30, 2025, compared to $413,129 as of July 31, 2024 [11]. - The total stockholders' equity attributable to Tianci International, Inc. rose to $4,470,701 as of April 30, 2025, from $741,831 as of July 31, 2024 [11]. - Cash flows from financing activities resulted in a net cash increase of $5,217,937, compared to $268,213 in the previous year [14]. - The company raised $5,439,333 from public or private offerings during the nine months ended April 30, 2025, compared to $513,213 in the prior year [14]. Accounts and Cash Management - The ending cash balance as of April 30, 2025, was $3,630,884, up from $646,031 at the same time in 2024 [14]. - Accounts receivable increased by $166,752, compared to an increase of $82,021 in the prior year [14]. - Income taxes payable decreased by $51,920, contrasting with an increase of $22,023 in the previous year [14]. - The company reported a non-cash activity of $714,481 for deferred offering costs net against proceeds from public offerings [14]. - The company had a significant adjustment of $158,412 for warrants issuance to a consultant during the period [14]. Strategic Focus - The company plans to focus on long-distance shipping lines to improve profit margins as it grows [4]. - The company anticipates using a significant portion of its working capital to expand its market presence in logistics services [6].

Revenue Performance - Total revenue for the three months ended April 30, 2025, was $1,948,215, a slight increase of 0.4% compared to $1,940,346 for the same period in 2024[126] - For the nine months ended April 30, 2025, total revenue increased by 13.8% to $7,008,358 from $6,161,122 in 2024, driven by an expanding customer base[127] - Logistics service revenue accounted for 98% of total revenue for the three months ended April 30, 2025, and 96% for the nine months ended April 30, 2025, indicating a continued focus on logistics[128] Cost and Profitability - Cost of revenues for the three months ended April 30, 2025, increased by 11.5% to $1,890,232 from $1,695,639 in 2024[131] - For the nine months ended April 30, 2025, total cost of revenues rose by 24.3% to $6,641,966 from $5,343,534 in 2024, reflecting rising costs from logistics vendors[131] - The gross profit for the three months ended April 30, 2025, was $57,983, a decrease of 76% compared to $244,707 in 2024[124] - Gross profit decreased from $244,707 to $57,983 for the three months ended April 30, 2025, and from $817,588 to $366,392 for the nine months ended April 30, 2025[132] - Overall gross profit margin was 2.98% and 5.23% for the three and nine months ended April 30, 2025, down from 12.61% and 13.27% during the same periods in 2024[132] Losses and Expenses - Net loss attributable to the company for the three months ended April 30, 2025, was $947,987, a significant increase from a loss of $49,974 in 2024, representing a 1,797% change[124] - General and administrative expenses surged by 614% to $960,583 for the three months ended April 30, 2025, compared to $134,473 in 2024[124] - Operating expenses increased by $826,110 for the three months and $1,002,288 for the nine months ended April 30, 2025, compared to the same periods in the previous year[133] - Net losses amounted to $959,409 and $1,162,328 for the three and nine months ended April 30, 2025, compared to a net loss of $38,797 and a net income of $55,805 for the same periods in 2024[135] Cash Flow and Capital - As of April 30, 2025, the company had working capital of $4,509,290, primarily consisting of cash of $3,630,884 from the initial public offering[136] - Net cash used in operating activities was $2,000,182 for the nine months ended April 30, 2025, primarily due to the net loss and increases in accounts receivable and prepaid expenses[141] - Net cash provided by financing activities was $5,217,937 for the nine months ended April 30, 2025, mainly from the initial public offering[143] Strategic Initiatives - The company completed a $7 million initial public offering on April 11, 2025, and became listed on Nasdaq[119] - The acquisition of RQS United Group Limited on March 3, 2023, is expected to enhance the company's logistics capabilities and market presence[113] - The company plans to diversify its service region to include long-distance shipping lines, which typically yield higher profit margins[132] - The company may seek additional cash resources in the future for investments, acquisitions, or capital expenditures[137] - The company had no investing activities during the three and nine month periods ended April 30, 2025 and 2024[142]

Revenue Performance - Revenues for the three months ended January 31, 2025, decreased by 28% to $2,079,203 from $2,894,128 for the same period in 2024[121] - For the six months ended January 31, 2025, revenues increased by 20% to $5,060,143 compared to $4,220,776 for the same period in 2024[122] - Global logistics service revenue represented 99% of total revenue for the three months ended January 31, 2025, indicating a strong focus on logistics[124] Cost and Profitability - Cost of revenues decreased by 22% for the three months ended January 31, 2025, but increased by 30% for the six months ended January 31, 2025[126] - Gross profit for the three months ended January 31, 2025, was $79,978, a decrease of 76% from $339,104 in the same period in 2024[121] - The overall gross profit margin for the three months ended January 31, 2025, was 3.9%, down from 11.7% in the same period in 2024[130] Strategic Initiatives - The company plans to adopt a customer-friendly pricing strategy to quickly build market share while diversifying service regions[130] - The acquisition of RQS United Group Limited was completed on March 3, 2023, enhancing the company's logistics capabilities[111] - The logistics business has seen significant growth since 2023, driven by the expertise of the CEO in shipping operation management[115] - The company has started providing shipping and freight forwarding services in 2023, indicating a potential for market expansion[136] Financial Position and Expenses - Operating expenses increased for the six months ended January 31, 2025, to $431,604 from $255,426 in the same period last year, primarily due to rising payroll expenses[131] - The company reported a net loss of $202,919 for the six months ended January 31, 2025, compared to a net loss of $94,602 for the same period in 2024[133] - As of January 31, 2025, the company had working capital of $585,435, with cash amounting to $180,554 and current liabilities of $189,669[134] - Net cash used in operating activities for the six months ended January 31, 2025, was $158,450, primarily due to a net loss of $202,919[139] - The company had no investing activities during the three and six months ended January 31, 2025 and 2024[141] - Net cash used in financing activities for the six months ended January 31, 2025, was $74,125, related to professional fees for a public offering[142] - The company anticipates that its liquidity and working capital will be sufficient to sustain operations for the next twelve months, but may require additional cash resources for future investments[135] Taxation - The company incurred an income tax expense of $6,891 for the six months ended January 31, 2025, compared to an income tax benefit of $(7,141) in the same period last year[132] Risk Factors - The company is exposed to risks from economic conditions in Hong Kong and the international trade environment, which could impact operations[118][119]