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].