Core Insights - Eastern International Ltd. has commenced Offshore Project logistics services for Guangdong Goldwind, marking a significant milestone in its expansion within the renewable energy sector [1][2] - The company is also managing two other major offshore wind power projects in Jiangsu Province, with cumulative revenues of RMB 22.87 million and RMB 22.32 million as of October 31, 2025 [2] - Eastern International's operational strength and expertise in logistics for renewable energy projects are highlighted by its ability to execute multiple large-scale projects concurrently [3][4] Company Overview - Eastern International Ltd. is a provider of domestic and cross-border professional logistic services, with a focus on project logistics [5] - The company operates through its wholly-owned subsidiaries, including Suzhou TC-Link Logistics Co., Ltd., which has a comprehensive logistics network across key cities in China and Southeast Asia [5] - The company has obtained the ISO 9001 certification for high-quality service, reinforcing its commitment to quality and safety in logistics operations [5] Project Details - The Yangjiang Project involves the transportation of wind turbine components, specifically blades measuring 266/16200, from Guangdong Goldwind's bases to the designated port [1] - The two ongoing projects in Jiangsu Province involve the transportation and installation of ultra-long wind blades measuring up to 110 meters, with a combined installation capacity exceeding 1.6 gigawatts [2] - Both Jiangsu projects are expected to be completed by the end of 2025, showcasing the company's technical expertise in managing complex logistics [2][3] Strategic Positioning - The company is well-positioned to capitalize on the growing renewable energy investments in China and Southeast Asia, leveraging its extensive project management expertise and established client relationships [4] - Eastern International aims to expand its service offerings beyond transportation to include value-added engineering solutions, enhancing customer loyalty and long-term revenue visibility [4]

Core Viewpoint - Eastern International Ltd. has completed the acquisition of 100% equity interest in Guizhou Minji Construction Engineering Co., Ltd., enhancing its capabilities in power engineering and construction services [1][2][3] Group 1: Acquisition Details - The acquisition was finalized on October 27, 2025, making Guizhou Minji an indirectly wholly-owned subsidiary of Eastern International [1] - Guizhou Minji holds essential industry qualifications for power engineering projects, including "Grade II Power Engineering Construction General Contracting Qualification" and others [2] Group 2: Strategic Implications - This acquisition allows Eastern International to independently undertake significant power generation and transmission projects, including those with capacities of 200 MW and up to 220 KV [2] - The company can now engage in over 90% of steel structure projects in various fields, enhancing its service offerings in municipal, industrial, and civil engineering [2] Group 3: Market Position and Future Outlook - The acquisition is viewed as a strategic move to create new business opportunities and revenue streams, potentially leading to higher profit margins [3] - Eastern International aims to expand its services beyond logistics to include foundational construction and equipment installation in the new energy sector, thereby increasing its market competitiveness [3] - The company is expected to become a more diversified and specialized provider of engineering project solutions, particularly in new energy and steel structure engineering [3]

Group 1 - Eastern International Limited, the offshore holding company of Suzhou Tiancheng Intelligent Logistics, completed an IPO at a price of $4.00 per share, raising a total of $6.4 million before underwriting discounts and expenses by offering 1.6 million shares [1] - The company began trading on the Nasdaq Capital Market on August 28 under the ticker symbol "ELOG" [1] - Maxim Group LLC acted as the exclusive bookrunner for the offering, and the company granted underwriters a 45-day option to purchase up to 240,000 additional shares, representing 15% of the shares sold in the offering [1] Group 2 - Eastern International is a Cayman Islands-registered holding company, with its subsidiary Suzhou Tiancheng Logistics operating four wholly-owned subsidiaries, five warehousing logistics centers, and three branch offices in China [2] - The company's logistics network covers mainland China, Hong Kong, Southeast Asia, and Central Asia, providing domestic and cross-border logistics services, including project logistics and general logistics solutions [2] - The IPO size is relatively small by U.S. market standards, indicating that the company is in an early development stage or has a smaller business scale [2]

Core Viewpoint - Eastern International Ltd. has successfully completed its initial public offering (IPO) by selling 1,600,000 ordinary shares at a price of $4.00 per share, raising gross proceeds of $6.4 million before expenses [1][3]. Company Overview - Eastern International Ltd. is a holding company incorporated in the Cayman Islands, providing domestic and cross-border professional logistic services through its wholly owned subsidiary, Suzhou TC-Link Logistics Co., Ltd. [6] - Suzhou TC-Link was established in 2006 and has obtained the ISO 9001 certificate for high-quality service, operating a network that covers key cities in mainland China, Hong Kong, Southeast Asia, and Central Asia [6]. IPO Details - The shares began trading on the Nasdaq Capital Market under the symbol "ELOG" on August 28, 2025 [2]. - The company has granted Maxim Group LLC a 45-day option to purchase an additional 240,000 shares at the offering price, representing 15% of the shares sold in the offering [2]. - Maxim Group LLC acted as the sole book-running manager for the offering, with FisherBroyles, LLP and Hunter Taubman Fischer & Li LLC serving as legal counsel [3]. Financial Information - The total gross proceeds from the offering amounted to $6.4 million, prior to deducting underwriting discounts and other related expenses [3]. - The offering was conducted under the company's Registration Statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission on August 27, 2025 [4].

Core Viewpoint - Dongyuan Global (Tiancheng Zhiliang) officially listed on NASDAQ under the stock code ELOG on August 28, 2025, becoming the sixth Zhejiang enterprise to go public in the US this year [1] Group 1: Company Overview - Dongyuan Global Co., Ltd. was established in the Cayman Islands and operates through its wholly-owned subsidiary, Hangzhou Tiancheng Zhiliang Logistics Supply Chain Management Co., Ltd., which conducts business in domestic and cross-border logistics services [3] - The company has eight operational entities in China, including five wholly-owned subsidiaries and three branch offices, covering major cities in mainland China, Hong Kong, Southeast Asia, and Central Asia [3] Group 2: Listing Process - The company initiated its listing plan in November 2022 and completed its exit from the New Third Board in February 2023 [3] - In March 2024, the company submitted a confidential prospectus to the SEC and filed for overseas listing with the China Securities Regulatory Commission (CSRC) [3] - The CSRC approved the listing in September 2024, and the SEC and NASDAQ granted permission for stock trading in August 2025 [3] Group 3: Financial Details - The listing adopted a "red-chip structure," with the company issuing 1,600,000 shares at a price of $4 per share, raising a total of $6,400,000 (approximately 45,760,000 RMB) [5] - The raised funds will be used for developing engineering project logistics in Southeast Asia, investing in equipment, developing logistics management systems, employee training, potential acquisitions, and general corporate purposes [5] - For the fiscal year ending March 31, 2024, the company reported revenue of $40,443,629, and for the fiscal year ending March 31, 2025, revenue was $40,041,691, with net profits of $1,083,700 and $1,780,026 respectively, indicating a 64.25% year-on-year profit growth for 2025 [5]

Group 1 - Eastern International Ltd, the controlling shareholder of Suzhou Tiancheng Intelligent Logistics Co., Ltd, successfully listed on NASDAQ under the ticker ELOG on August 28, 2025 [4] - The company had previously filed a confidential registration statement with the SEC on March 22, 2024, and publicly disclosed its prospectus on September 3, 2024 [4] - Suzhou Tiancheng Intelligent Logistics, established in January 2006, provides domestic and cross-border logistics services and has obtained ISO9001 certification [5] Group 2 - On its first trading day, ELOG closed at $2.96 per share, down 26%, with a market capitalization of approximately $35.57 million [7] - The stock experienced a trading volume of 774,200 shares, with a price range of $2.80 to $3.60 during the day [8] - The average price for the day was $3.19, indicating significant volatility with a 20% price fluctuation [9]

Core Viewpoint - Eastern International Ltd. (ELOG) is preparing for an IPO on NASDAQ, focusing on practical funding allocation rather than high-concept narratives, aiming to transform project logistics into a stable cash-generating business [1][4][21]. Company Overview - Company Name: Eastern International Ltd. (ELOG) [5] - Proposed Exchange: NASDAQ [5] - Number of Shares Offered: 1,600,000 [5] - Price Range: $4.00 - $5.00 [5] - Total Shares Outstanding Post-Issue: Approximately 12,017,000 [5] - Use of Proceeds: 20% for Southeast Asia project logistics, 20% for equipment and capital expenditures, 10% for system development and training, 10% for potential acquisitions, and 40% for working capital [5][4]. Financial Performance - Revenue for FY2024: $40.44 million; FY2025: $40.04 million [5][10]. - Net Profit for FY2024: $1.08 million; FY2025: $1.78 million [5][10]. - Gross Margin: FY2024 at 12.4%; FY2025 projected at 15.0% [5][10]. - Transportation Revenue for FY2025: $35.25 million; Warehousing Revenue: $4.79 million [5][10]. - Customer Concentration: Top three customers contribute approximately 43% of revenue [5][10]. Operational Insights - The company operates with 20 owned vehicles and collaborates with over 2,000 social vehicles [5][7]. - Warehousing facilities cover over 25,000 square meters across multiple cities [5][7]. - Project logistics is a core service, focusing on complex transportation needs for large and specialized equipment [8][39]. Market Position and Strategy - The logistics industry in China is highly competitive, with ELOG facing challenges from various service providers [27][28]. - The company aims to leverage its experience and network to maintain a competitive edge in project logistics [8][21]. - ELOG's strategy includes expanding its market share in Southeast Asia and enhancing operational efficiency through technology upgrades [63]. Governance and Ownership - The company will operate as a controlled company under NASDAQ rules, with the chairman holding approximately 64.8% of voting power [14][5]. - The governance structure allows for certain exemptions from independence requirements, which may impact minority shareholders [14].

Core Viewpoint - The article discusses the challenges and opportunities faced by Eastern International Ltd (ELOG) as it seeks to go public on NASDAQ amid a competitive landscape in the logistics industry, particularly in cross-border logistics and project logistics sectors [1][12]. Business Growth and Profitability Issues - ELOG has experienced significant revenue growth, with projected revenues of $24.16 million and $40.44 million for the fiscal years 2023 and 2024, respectively, representing a year-on-year growth rate of 67.4% [4]. - However, in the first half of fiscal year 2025, revenue growth slowed significantly to only 5.5%, with core transportation services growing by just 2.5% [4]. - The increase in revenue was primarily driven by general logistics services, while project logistics revenue declined [5]. - Despite a rise in gross margin from 11.1% to 14.2%, net profit growth was limited to 3.8% due to various factors including foreign exchange gains and interest expenses [5]. Market Dynamics in Project Logistics - The project logistics market in China is rapidly growing, with a market size of 36.49 billion RMB in 2023, reflecting a 4.1% year-on-year increase [7]. - The demand for project logistics services is driven by the construction and energy sectors, which require extensive transportation and coordination of materials [7][8]. - The market is highly fragmented, leading to intense competition, with major players like SF Express and JD already established in the sector [8][9]. Customer Concentration and Financial Risks - ELOG's revenue is highly concentrated, with two major clients accounting for 38% of total revenue in fiscal year 2024, increasing the risk of revenue volatility [10]. - The company's accounts receivable are high, with receivables amounting to $14 million, representing 66% of total assets, which poses liquidity challenges [10][11]. IPO and Liquidity Challenges - ELOG plans to raise $7.2 million through its IPO, which is significantly lower than the average fundraising amounts of its peers [13]. - The high proportion of accounts receivable in current assets (85%) indicates a need for better receivables management and potential strategic partnerships to alleviate liquidity pressures [14]. - The company is encouraged to explore new markets in Africa and Latin America to diversify its revenue streams and reduce dependency on existing markets [15].