High-Trend International Group Announces Nearly 98% Revenue Growth for Fiscal Year 2025 and Stronger Balance Sheet

Revenue and Volume Growth - High-Trend International Group reported total revenue of approximately US$214.4 million for the fiscal year ended October 31, 2025, marking an increase of approximately US$106.2 million, or 98.2%, compared to US$108.2 million in the previous fiscal year [2] - Ocean freight revenue rose to approximately US$214.0 million in fiscal 2025 from approximately US$105.4 million in fiscal 2024, representing an increase of approximately US$108.6 million, or 103.1% [3] - Total voyage days increased from 3,496 days in fiscal 2024 to 7,470 days in fiscal 2025, indicating expanded fleet deployment and higher customer demand [3] Stronger Cash Position - The company generated net cash provided by operating activities of approximately US$4.6 million in fiscal 2025, a significant improvement from net cash used in operating activities of approximately US$3.3 million in fiscal 2024 [4] - Cash and cash equivalents increased to approximately US$10.1 million as of October 31, 2025, up from approximately US$6.9 million as of October 31, 2024 [4] Net Loss and Non-Cash Items - High-Trend reported a net loss of approximately US$20.1 million for fiscal 2025, an improvement from a net loss of approximately US$21.2 million for fiscal 2024, primarily driven by non-cash expenses such as share-based compensation of approximately US$21.9 million [5] - Non-cash losses related to convertible notes that impacted the prior year did not recur in fiscal 2025, contributing to the improved underlying operating performance despite reported net losses [6] Management Commentary - The Chairman of High-Trend stated that the fiscal 2025 results demonstrate successful scaling of the core shipping business, nearly doubling revenue year-over-year while strengthening cash position and book value per share [7] - The company plans to focus on high-demand trade lanes and disciplined cost management while optimizing capital structure and equity-based incentives to align long-term shareholder value with operational performance [7] Financial Summary - Total revenue for fiscal 2025 was approximately US$214.4 million, with gross profit of approximately US$6.8 million [9] - Operating expenses included share-based compensation of approximately US$21.9 million and total operating expenses of approximately US$26.7 million [9] - The net loss attributable to the company was approximately US$21.5 million, with a loss per share of US$4.18 [9]