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HONG KONG - Tianci International Inc. (NASDAQ:CIIT), a small-cap logistics company with a market capitalization of $17.4 million, has signed an agreement to purchase 5,000 dry metric tons of chromite ore concentrate through its Hong Kong subsidiary, Roshing International Co., Limited, the company announced Tuesday. According to InvestingPro data, the company has demonstrated strong revenue growth of 51.5% in the last twelve months.
The transaction marks Tianci’s initial venture into the international mineral resources market. According to the company, the high-quality chromite ore concentrate was acquired from an established supplier and contains chromium concentration between 46% and 50%, as verified through inspections conducted in accordance with international standards. While the company maintains strong liquidity with a current ratio of 325.4, InvestingPro analysis indicates challenges with gross profit margins at 6.4%.
Following this purchase, Tianci plans to expand its global shipping network and optimize its supply chain structure to meet market demand for mineral resources. The company aims to integrate mineral trade activities with its existing global shipping operations.
Tianci International, through its subsidiary Roshing, provides global logistics services with a focus on ocean freight forwarding, including container and bulk goods shipping. The company operates primarily in the Asia-Pacific region, serving markets in Japan, South Korea, and Vietnam.
The information in this article is based on a company press release statement.
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