Company Overview - Elite Express Holding Inc. (ETS) is a Delaware holding company that operates through its wholly owned subsidiary, JAR Transportation Inc., based in California [5] - ETS specializes in last-mile delivery services, focusing on transporting packages from distribution centers to end customers within defined service areas [5] - The company utilizes logistics software to enhance operational efficiency, route planning, driver oversight, and regulatory compliance [5] Initial Public Offering (IPO) Details - ETS announced the closing of its initial public offering of 3,800,000 shares of Class A common stock at an offering price of $4.00, resulting in gross proceeds of approximately $15.2 million before deductions [1] - The shares began trading on The Nasdaq Capital Market under the ticker symbol "ETS" on August 21, 2025 [2] - Underwriters for the offering include Dominari Securities LLC as the representative and Revere Securities as co-underwriter, with Pacific Century Securities, LLC acting as the advisor to ETS [2] Regulatory Filings - A registration statement on Form S-1 was filed with the U.S. Securities and Exchange Commission (SEC) and became effective on August 20, 2025 [3] - The offering is conducted solely by means of a prospectus that is part of the effective registration statement, with a final prospectus available on the SEC's website [3]

Company Overview - Elite Express Holding Inc. (ETS) is a Delaware holding company that operates through its wholly owned subsidiary, JAR Transportation Inc., based in California [5] - ETS specializes in last-mile delivery services, focusing on transporting packages from distribution centers to end customers within defined service areas [5] - The company utilizes logistics software to enhance operational efficiency, route planning, driver oversight, and regulatory compliance [5] Initial Public Offering (IPO) Details - ETS announced the pricing of its initial public offering of 3,800,000 shares of Class A common stock at a public offering price of $4.00 per share, resulting in gross proceeds of approximately $15.2 million before deducting underwriting discounts and offering expenses [1] - The underwriters have a 45-day option to purchase up to an additional 570,000 shares of Class A common stock at the initial public offering price [1] - The shares are expected to begin trading on the Nasdaq Capital Market under the ticker symbol "ETS" on August 21, 2025, with the offering expected to close on August 22, 2025, subject to customary closing conditions [2] Regulatory and Compliance Information - A registration statement on Form S-1 was filed with the U.S. Securities and Exchange Commission (SEC) and was declared effective on August 20, 2025 [3] - The offering is being made only by means of a prospectus forming part of the effective registration statement, with copies of the final prospectus to be available on the SEC's website [3]

Core Viewpoint - Qudian Inc. reported a significant decline in revenue for its last-mile delivery business due to intense competition, leading to a potential winding down of this segment while focusing on prudent cash management and business transition [3][4][12]. Financial Performance - Total revenues decreased by 53.8% to RMB25.8 million (US$3.6 million) in Q1 2025 from RMB55.8 million in Q1 2024 [4][8]. - Sales income from the last-mile delivery business fell to approximately RMB23.8 million in Q1 2025, down from RMB53.8 million in the same period last year [3]. - Total operating costs and expenses decreased to RMB91.3 million (US$12.6 million) from RMB128.4 million in Q1 2024 [4]. Cost Management - Cost of revenues decreased by 54.8% to RMB26.2 million (US$3.6 million) due to reduced service costs related to the last-mile delivery business [5]. - General and administrative expenses decreased by 15.6% to RMB48.3 million (US$6.7 million) primarily due to lower staff compensations [5]. - Research and development expenses decreased by 17.6% to RMB13.1 million (US$1.8 million) as a result of a decrease in staff headcount [6]. Operational Loss and Income - Loss from operations was RMB65.5 million (US$9.0 million), an improvement from RMB72.5 million in Q1 2024 [6]. - Net income attributable to Qudian's shareholders was RMB150.1 million (US$20.7 million), compared to a net loss of RMB73.6 million in Q1 2024 [8][24]. Cash Flow and Assets - As of March 31, 2025, the company had cash and cash equivalents of RMB4,822.9 million (US$664.6 million) and restricted cash of RMB782.2 million (US$107.8 million) [10]. - Net cash provided by operating activities was RMB254.3 million (US$35.0 million) for Q1 2025, mainly due to realized investment income [11]. Share Repurchase Program - The Board approved a share repurchase program in March 2024, with a total of approximately US$52.0 million spent on repurchasing 21.8 million ADSs by May 26, 2025 [13][14].