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SINGAPORE - High-Trend International Group (NASDAQ:HTCO), a small-cap ocean technology company with a market capitalization of $36.33 million, reported a 185.2% increase in total revenue to $99.4 million for the six months ended April 30, 2025, compared to $34.9 million in the same period last year, according to a company press release. InvestingPro analysis indicates the stock is currently trading below its Fair Value.
The ocean technology company’s core ocean freight business grew significantly, with revenue rising 198.1% year-on-year to $99.0 million. Voyage days for ocean freight increased by 258.9% to 3,420 days from 953 days in the comparable period.
The company expanded its services to include coal ocean freight routes covering Australia to China, Indonesia to Southeast Asia, and Vietnam, broadening its dry bulk cargo categories.
Despite costs rising by 194.4% to $95.5 million due to business expansion, High-Trend achieved a gross profit of $4.0 million, up 63.1% year-on-year. Cash and cash equivalents reached $13.2 million as of April 30, 2025, a 93.0% increase from October 31, 2024.
The company also launched a green shipping business during the reporting period, generating $0.4 million in revenue from consulting services for ship exhaust gas capture technology.
In March, Christopher Nixon Cox was appointed as Chairman. The company issued 10.7 million Class A ordinary shares to directors, officers, and consultants as equity incentives with a three-year performance-based vesting schedule.
CEO He Shixuan noted that while equity incentive expenses impacted book profits, the company prioritizes long-term value creation as it continues its expansion in ocean freight while developing green shipping initiatives.
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