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SINGAPORE, Aug. 8, 2025 /PRNewswire/ -- High-Trend International Group ("the Company") (NASDAQ: HTCO), a global ocean technology company, has released its financial results for the six months ended April 30, 2025, showcasing its recent business expansion.

Key Financial Indicators

-听Total revenue for the 2025 reporting period increased to $99.4 million compared to $34.9 million in the same period of 2024, representing a year-on-year increase of 185.2%.
-听Ocean freight revenue for the 2025 reporting period increased to $99.0 million from $33.2million in the same period of 2024, a year-on-year increase of 198.1%.
- As of April 30, 2025, cash and cash equivalents reached $13.2 million, up 93.0% from the year ended October 31, 2024.
- Net cash flow from operating activities in the first half of 2025 reached $6.5 million, providing a solid foundation for further business expansion.
-听Gross profit for the first half of 2025 increased by 63.1% year-on-year to $4.0 million, with the core business maintaining profitability.

Surging Ocean Freight Business Drives Leapfrog Revenue Growth

The Company's core ocean freight business delivered a strong performance during the reporting period, with total revenue reaching $99.4 million, a 185.2% increase from $34.9 million in the same period of 2024. The Group's Ocean freight added coal ocean freight services, with routes covering key regions such as Australia to China, Indonesia to Southeast Asia, and Vietnam, significantly expanding its dry bulk cargo categories. Concurrently, the global surge in coal import and export demand further boosted business volume, driving ocean freight revenue from $33.2 million in the same period of 2024 to $99.0 million, a year-on-year increase of 198.1%. Voyage days for ocean freight revenue increased from 953 days in the same period of 2024 to 3,420 days, an increase of 258.9%, confirming the rapid expansion of the business.

Profitability and Cash Flow

Despite revenue costs rising by 194.4% year-on-year to $95.5 million due to business expansion, the Company still achieved a gross profit of $4.0 million, up 63.1% year-on-year.

As of April 30, 2025, the Company's cash and cash equivalents amounted to $13.2 million, an increase of 93.0% from the year ended October 31, 2024; net cash flow from operating activities of $6.5 million provides strong financial support for ongoing business expansion.

Initial Success in Green Shipping Business

While focusing on its core ocean freight business, the Company successfully launched its green shipping business during the 2025 interim reporting period. In the first half of 2025, the Company generated $0.4 million in revenue from consulting services for ship exhaust gas capture technology, laying a solid foundation for the Company to advance marine decarbonization solution.听

Key Executives and Consultants' Equity Incentives: Sustained Shareholder Value

During the first half of 2025, the Group issued 10,754,224 Class A ordinary shares to certain directors, officers, and consultants as a substitute for cash compensation and to incentivize future business development. The total fair value of these shares (based on the share price on the grant date) was $24.3 million, of which $14.2 million was recognized directly as a non-cash expense. All shares issued under this program are subject to a three-year performance-based vesting schedule, ensuring that recipients remain focused on delivering sustained value creation for shareholders.

New Chairman Christopher Nixon Cox Brings Strategic Empowerment

On March 13, 2025, Mr. Christopher Nixon Cox became the Company's Chairman, bringing strong impetus to its growth. With his international resources and network as a President Richard Nixon Foundation Director, he will boost traditional shipping operations. His expertise in green low-carbon and financial sectors, aligned with the Company's transformation goals, will also accelerate new business plan, including ship exhaust capture tech commercialization, carbon asset management,听crypto听reserves, and asset tokenization.

Mr. He Shixuan, CEO of the Company, commented, "During this reporting period, the Company has delivered results that fully reflect the scale and quality of its business. The ocean freight revenue has grown to nearly $100 million, with a year-on-year increase of 198.1%, which demonstrates the improvement of our operational efficiency and the effectiveness of our strategic deployment in coal transportation and key routes. Notably, amid rapid business expansion, the core business remains profitable, and cash flow continues to improve, laying a solid foundation for our green shipping transformation."

In the short term, the expense pressure from equity incentives has indeed impacted book profits, but we value its long-term value more. The core team, with its compensation tied to the Company's equity, is accelerating the commercialization of ship exhaust gas capture technology and the implementation of shipping carbon asset management solutions.听听In particular, the addition of Chairman Cox has provided the Company with a unique resource and expertise that will support at the intersection of low-carbon shipping and financial innovation.

Forward Looking Statements

This announcement contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including, without limitation, those with respect to the objectives, plans and strategies of the Company set forth herein and those preceded by or that include the words听"believe," "expect," "anticipate," "future," "will," "intend," "plan," "estimate"听or similar expressions, are听"forward-looking statements". Such statements include, but are not limited to risks detailed in the Company's filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended听October 31, 2024. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. All information provided in this press release is as of the date of the publication, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

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SOURCE High-Trend International Group