Core Viewpoint - High-Trend International Group has appointed Christopher Nixon Cox as Chairman and Bo Cui as Chief Legal Officer, aiming to enhance governance and drive strategic growth in innovation-driven sectors, particularly in maritime low-carbon initiatives [1][6]. Group 1: Leadership Changes - Christopher Nixon Cox has been appointed as Chairman of High-Trend International Group, effective immediately, bringing extensive expertise in global markets and sustainability [1]. - Mr. Jinyu Chang has resigned as Chairman but will remain a director of the Company [1]. - Bo Cui has been named the new Chief Legal Officer, emphasizing the Company's commitment to governance and compliance [1]. Group 2: Leadership Background - Christopher Nixon Cox has a diverse background, serving as CEO of Lightswitch Capital and Argali Carbon Corporation, and has experience in funding breakthrough therapies and advancing green infrastructure [2]. - Bo Cui has over two decades of experience in cross-border finance and mergers and acquisitions, having executed over $10 billion in strategic deals during his tenure at HNA Group [5]. Group 3: Strategic Focus - The Company aims to leverage Mr. Cox's expertise to advance maritime low-carbon initiatives and strengthen traditional shipping operations in the U.S. [6]. - Bo Cui's dual expertise in law and technology is expected to enhance the Company's legal strategy and risk management efforts as it navigates global markets [6].

Financial Performance - Income from operations increased to $2.3 million in fiscal 2024, recovering from a significant loss of $15.6 million in fiscal 2023 [1] - Total revenue rose to $108.2 million, marking a 13.6% year-over-year increase [8] - Gross profit increased to $8.1 million, compared to a gross loss of $11.9 million in fiscal 2023 [8] - Total costs decreased by $7.1 million (6.6%) to $100.1 million in fiscal 2024, reflecting operational excellence [8] - Cash balance increased by $4.6 million in fiscal 2024, compared to a net decrease of $19.4 million in 2023 [8] Strategic Initiatives - The company is examining the viability of entering the marine decarbonization and digital carbon asset management business [3] - Plans to collaborate with global top enterprises to develop technologies for carbon capture and permanent sequestration [3] - Management emphasizes the importance of building a complete value chain from carbon capture to carbon trading [4] - The company aims to transform ship emission reductions into lasting assets, marking an evolution of the business model [5] Industry Context - The company is positioned as a pioneer in the transformation of the shipping industry, focusing on decarbonization [4] - The restructuring of the shipping industry has provided an opportunity for the company to optimize operational strategies and leverage its customer network [1] - The company connects the decarbonization needs of the maritime industry with the carbon finance market through a technology ecosystem [6]