Core Viewpoint - Dongyuan Global (Tiancheng Zhiliang) officially listed on NASDAQ under the stock code ELOG on August 28, 2025, becoming the sixth Zhejiang enterprise to go public in the US this year [1] Group 1: Company Overview - Dongyuan Global Co., Ltd. was established in the Cayman Islands and operates through its wholly-owned subsidiary, Hangzhou Tiancheng Zhiliang Logistics Supply Chain Management Co., Ltd., which conducts business in domestic and cross-border logistics services [3] - The company has eight operational entities in China, including five wholly-owned subsidiaries and three branch offices, covering major cities in mainland China, Hong Kong, Southeast Asia, and Central Asia [3] Group 2: Listing Process - The company initiated its listing plan in November 2022 and completed its exit from the New Third Board in February 2023 [3] - In March 2024, the company submitted a confidential prospectus to the SEC and filed for overseas listing with the China Securities Regulatory Commission (CSRC) [3] - The CSRC approved the listing in September 2024, and the SEC and NASDAQ granted permission for stock trading in August 2025 [3] Group 3: Financial Details - The listing adopted a "red-chip structure," with the company issuing 1,600,000 shares at a price of $4 per share, raising a total of $6,400,000 (approximately 45,760,000 RMB) [5] - The raised funds will be used for developing engineering project logistics in Southeast Asia, investing in equipment, developing logistics management systems, employee training, potential acquisitions, and general corporate purposes [5] - For the fiscal year ending March 31, 2024, the company reported revenue of $40,443,629, and for the fiscal year ending March 31, 2025, revenue was $40,041,691, with net profits of $1,083,700 and $1,780,026 respectively, indicating a 64.25% year-on-year profit growth for 2025 [5]

Core Viewpoint - The company, Huan Shi International Logistics Holdings Limited, is launching an IPO in the Hong Kong capital market, highlighting its position as a leading private cross-border logistics provider in China, despite facing significant industry cyclicality and global trade risks [2][12]. Company Overview - Established in 2003, Huan Shi Logistics is a national 5A-level logistics enterprise offering a wide range of services including international sea and air freight, customs clearance, and end-to-end logistics solutions [3]. - The company operates a global logistics network with over 6,000 cross-border routes, covering approximately 200 countries and regions, and ranks first among private cross-border logistics service providers in China [3][4]. Financial Performance - The company has experienced significant revenue fluctuations due to the cyclical nature of the logistics industry. Revenue figures for 2022, 2023, and 2024 were $2.06 billion, $776.29 million, and $1.25 billion, respectively, with corresponding profits of $204.7 million, -$38.43 million, and $51.59 million [7][8]. - In 2023, the company’s revenue decreased by 62.3% year-on-year due to a low point in the cross-border logistics service industry, but it rebounded in 2024 with a significant increase in revenue driven by higher pricing [8][9]. Market Position and Investment - Huan Shi Logistics has attracted investments from major players such as Alibaba's Cainiao and COSCO Shipping, indicating strong market confidence in its business model [6]. - The company’s chairman and CEO, Lin Jie, holds a 31.54% stake, while Cainiao is the second-largest shareholder with a 29.34% stake [6]. Future Outlook - The company is expected to face ongoing challenges from global trade tensions and macroeconomic uncertainties, which may impact its profit performance in the near term [11]. - The ability of Huan Shi Logistics to optimize operations and manage risks will be crucial for its long-term value in a volatile market environment [12].

Core Viewpoint - Huan Shi International Logistics Holdings Limited has submitted its listing application to the Hong Kong Stock Exchange, marking its entry into the capital market and signaling new growth opportunities for the logistics giant [1][6]. Company Overview - Established in 2003, the company provides comprehensive international logistics services, including international sea, air, and land transportation, chemical logistics, project logistics, cross-border e-commerce logistics, and warehousing services [1]. - The company has expanded its global presence with branches in various countries, including Thailand, Indonesia, India, Pakistan, UAE, Australia, the USA, Poland, Turkey, the UK, and Niger, supported by its international headquarters in Singapore [1]. Financial Performance - The company reported revenues of $2.06 billion in 2022, $776 million in 2023, and $1.25 billion in 2024, indicating a rebound in 2024 after a decline in 2023 [2][3]. - The gross profit margin improved from 7.7% in 2022 to 12.4% in 2024, reflecting enhanced operational efficiency [2][3]. - The company experienced a net profit of $2.05 million in 2022, a loss of $38.43 million in 2023, and a net profit of $5.16 million in 2024, demonstrating a strong recovery [3]. Capital Structure - As of December 31, 2024, the company held cash and cash equivalents of $115 million, providing a solid financial foundation for future growth [4]. - The company's shareholding is relatively dispersed, with the largest shareholder, Executive Director Lin Jie, holding 31.54% of the shares, while strategic investor Cainiao holds 29.34% [4]. Future Outlook - The upcoming IPO is expected to create new development opportunities for the company, allowing it to strengthen its leading position in the international logistics sector and enhance service quality for clients [6].