Financial Data and Key Metrics Changes - For fiscal year 2025, total revenue reached $190.4 million, an increase of 14% compared to $167 million in fiscal year 2024 [7][8] - Cost of sales increased by 29.9% to $193.4 million, primarily due to higher freight costs and operational expansion [8][9] - The company reported a net loss of $15.3 million, or $0.37 per share, compared to the previous year [9] Business Line Data and Key Metrics Changes - The growth in revenue was largely driven by increased demand for transportation and warehousing services, with a more than four-fold increase in the active customer base to 505 [8] - General and administrative expenses rose by 47.2% to $14.7 million, reflecting investments in support of growing operations [9] Market Data and Key Metrics Changes - The company operates 10 warehouses across the U.S., covering approximately 3.9 million square feet, which positions it well for future opportunities in the cross-border e-commerce market [5][10] - The customer base diversified, with one customer accounting for around 10% of revenue, down from two customers representing 20% and 12% in the previous year [15] Company Strategy and Development Direction - The company is focused on optimizing operations, leveraging technology for efficiency, and broadening cost management to achieve consistent profitability [9][13] - Future growth is anticipated to come from expanding geographic coverage and enhancing the technology platform, particularly the Armlogi Order Management System [11][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in capturing future opportunities despite operational challenges and cost pressures [5] - Gradual improvement in margins is expected as the operational footprint reaches fuller utilization and technology investments take effect [13] Other Important Information - The company maintains high standards, including ISO 9001 compliance and an average inventory accuracy rate of 99.64% [5] - The focus on bulky item handling and a one-stop solution for cross-border e-commerce differentiates the company from larger competitors [16] Q&A Session Summary Question: What are the main drivers of revenue growth for fiscal year 2026? - Revenue growth is expected to be driven by demand for warehousing and logistics services, particularly from cross-border e-commerce merchants and an expanding U.S.-based customer base [11] Question: When does management expect to achieve consistent profitability and positive free cash flow? - Management is implementing measures for operational optimization and cost management, with gradual improvement in margins anticipated [13] Question: How concentrated is revenue among the largest customers? - One customer accounted for around 10% of revenue in fiscal year 2025, reflecting efforts to diversify the customer base [15]

Group 1 - The Korea E-Commerce Fair will take place from September 11 to 13, 2025, in Seoul, featuring three main areas: Korean Electronic Service Platform, Korean K-Life Style, and Product (Source Factory) [1] - The fair serves as a professional business service "think tank" for enterprises, providing comprehensive solutions including platform services, payment systems, logistics, warehousing, packaging design, and precise product selection [3] - The association plays a crucial role in promoting Sino-Korean trade cooperation, having established a long-term partnership with the China Daily Consumer Goods Trade Fair for resource sharing and business matching [3] Group 2 - Yiwu enterprises showcased their strengths at the fair through innovative participation models, with the "Good Merchants, Good Products" exhibition featuring 50 booths and over 100 participating Yiwu companies [5] - A dedicated exhibition hall was created by six leading jewelry manufacturers to present high-quality products and trends, serving as a key platform for Yiwu jewelry brands [6] - The fair is recognized as a significant opportunity for companies to expand into international markets and enhance global brand influence, with the next event scheduled for September 17 to 19, 2026 [6]

Group 1 - The stock price of Hongchuan Wisdom closed at 12.15 yuan on August 25, 2025, down 0.57% from the previous trading day, with a trading volume of 116 million yuan [1] - Hongchuan Wisdom's main business is petrochemical storage services, providing tank leasing, terminal loading and unloading, and storage management services, located in Guangdong Province [1] - The controlling shareholder, Guangdong Hongchuan Group Co., Ltd., recently released a pledge of 13.04 million shares of the company [1] Group 2 - On August 25, the net outflow of main funds was 2.306 million yuan, while the net inflow of main funds over the past five days was 7.3672 million yuan [1]