High-Trend International wrote a post · Jan 23 17:36

HTCO Haina Tiancheng International Group announces nearly 98% revenue growth and a stronger balance sheet for fiscal year 2025

New York, January 23, 2026 / PR Newswire / - $High-Trend International (HTCO.US)$ Haitian International Group (Nasdaq stock code: HTCO) ("HTCO" or "the Company"), a global marine technology company, today announced its financial results for the fiscal year ended October 31, 2025.

– Total revenue for the fiscal year 2025 surged 98% year-over-year to approximately USD 214.4 million

– Maritime revenue surged 103% year-over-year, with total voyage days more than doubling

– Operating cash flow turned positive, reaching approximately USD 4.6 million

– As of October 31, 2025, cash and cash equivalents increased to approximately USD 10.1 million

Revenue and volume growth

For the fiscal year ended October 31, 2025, Haitian International Group's total revenue increased to approximately USD 214.4 million, compared to approximately USD 108.2 million for the fiscal year ended October 31, 2024, an increase of approximately USD 106.2 million, representing a growth of 98.2%. This growth was primarily driven by significant expansion in the company’s coal transportation business across routes including Australia-Asia, Indonesia-Southeast Asia, and Vietnam, which substantially increased voyage days and dry bulk shipping volumes.

Maritime revenue increased from approximately USD 105.4 million in the fiscal year 2024 to about USD 214 million in the fiscal year 2025, an increase of approximately USD 108.6 million, representing a growth of 103.1%. Total voyage days increased from 3,496 days in the fiscal year 2024 to 7,470 days in the fiscal year 2025, reflecting the expansion of the company’s fleet deployment and growth in customer demand.

Cash position strengthened

The company generated approximately $4.6 million in net cash from operating activities in the fiscal year 2025, compared to approximately $3.3 million in net cash used in operating activities in the fiscal year 2024, reflecting a significant year-over-year improvement in operating cash flow. As a result, cash and cash equivalents increased to approximately $10.1 million as of October 31, 2025, from approximately $6.9 million as of October 31, 2024.

Net loss primarily driven by non-cash items

Hainat Tiancheng International Group reported a net loss of approximately $20.1 million for the fiscal year 2025, an improvement from a net loss of approximately $21.2 million for the fiscal year 2024. The net loss for the fiscal year 2025 was primarily driven by non-cash expenses, most notably share-based compensation of approximately $21.9 million, compared to approximately $1.2 million for the fiscal year 2024. This move was aimed at issuing shares and options to directors, management, and advisors as an alternative to cash compensation to support future growth.

In contrast, the non-cash losses that significantly impacted the previous fiscal year related to the company's convertible notes did not recur in the fiscal year 2025. In the fiscal year 2024, the company recorded a non-cash loss of approximately $23.2 million due to changes in the fair value of convertible notes, along with an additional non-cash loss of approximately $0.3 million due to the settlement of convertible notes, which were major contributors to the net loss of the previous fiscal year. Excluding these prior-year non-cash fair value and settlement losses, despite the reported net loss being predominantly driven by non-cash items, the company’s underlying operational performance in 2025 reflected substantial revenue growth and improved cash-generating capabilities.

Management Commentary

Christopher Nixon Cox, Chairman of Hainat Tiancheng International Group, stated: 'Our fiscal year 2025 results clearly demonstrate that Hainat Tiancheng International Group has successfully expanded the scale of its core shipping business, doubling our revenue within nearly a year while strengthening our cash position and book value per share. Despite reporting a net loss for 2025, it was primarily driven by non-cash share-based compensation as we chose to incentivize management and partners through equity rather than cash. From a cash perspective, our operations generated positive cash flow, and our balance sheet has been significantly strengthened.'

He continued: 'Looking ahead, we will continue to focus on high-demand trade routes and maintain strict cost control, while optimizing our capital structure and equity-based incentives to achieve alignment between long-term shareholder value and operational performance.'

About Hainaten International Group

Hainat Tiancheng International Group is a global maritime technology company with core businesses encompassing international shipping and marine carbon neutrality.

Forward-Looking Statements

This announcement contains forward-looking statements as defined under 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 and can be identified by terms such as 'believe,' 'expect,' 'anticipate,' 'future,' 'will,' 'intend,' 'plan,' 'estimate,' and similar expressions. These forward-looking statements involve various risks and uncertainties that could cause actual results to differ materially from those indicated in these statements, including but not limited to the 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 October 31, 2025). All information in this press release is current as of the release date, and the company assumes no obligation to update any forward-looking statements unless required by applicable law.'

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