
Acquisition and Expansion - The company acquired RQS United Group Limited on March 3, 2023, enhancing its logistics capabilities[282]. Revenue and Profitability - For the year ended July 31, 2024, total revenues surged to $8,617,265, a 1,805% increase from $452,409 in 2023, primarily driven by global logistics services[292][293]. - Global logistics service revenue accounted for 97% of total revenue in 2024, amounting to $8,320,402[293]. - Gross profit for the year ended July 31, 2024, was $1,055,179, compared to a gross loss of $4,085 in 2023, resulting in a gross margin of 12.24%[297]. - Net income for the year ended July 31, 2024, was $110,320, a turnaround from a net loss of $356,089 in 2023, with $54,450 attributable to the shareholders[300]. Costs and Expenses - The cost of revenues increased to $7,562,086 in 2024, reflecting the growth in global logistics services, with 98% attributed to this segment[295][296]. - Operating expenses rose significantly to $886,876 in 2024 from $339,909 in 2023, mainly due to increased commissions and professional fees[298]. Cash Flow and Working Capital - As of July 31, 2024, the company had working capital of $788,354, with cash amounting to $413,129[301]. - Net cash provided by operating activities was $112,740 for the year ended July 31, 2024, primarily due to net income[306]. - Net cash used in financing activities for the year ended July 31, 2023, was $89,476, primarily due to repayment of a working capital advance of $341,885[310]. - Cash inflows included $31,490 in working capital advances from related parties and a capital contribution of $65,650[310]. - Operating expenses paid directly by shareholders amounted to $84,503, with additional rent payments of $16,580 made by related parties[310]. Accounting and Management Insights - The company did not identify any accounting estimates subject to a high degree of uncertainty for the year ended July 31, 2024[312]. - Management believes that recently issued accounting standards will not have a material effect on the company's consolidated balance sheets[313]. Future Outlook - The company anticipates the need for additional capital expenditures to capture more market share in the logistics sector[303].