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MARKETS / NASDAQ / HTCO
NASDAQ · DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT · SMALL CAP

High-Trend International Group HTCO

6 fiscal years on record · USD · FY2025 reported · SEC filings only
$214.4M
▲ 98.2% YoY
$-21.5M
$4.6M
In brief

What this company does

It is headquartered in Singapore and derives the majority of its revenue from providing shipping services to customers in Asia, principally in Singapore, Dubai, Korea, Japan, and India. In the fiscal years 2025 and 2024, it derived 79% and 74% of its revenues, respectively, from customers outside of China. Its operations are conducted through two majority owned subsidiaries, Topsheen Shipping Singapore Pte. Ltd. and Topsheen Bulk Singapore Pte. Ltd. The company charters more than 50 vessels each year, including 40 from Topsheen Ltd, giving it an annual shipping capacity of approximately 3 million deadweight tons. Its regular routes cover over 50 countries and 100 ports in Africa, Asia and the Americas, including a route from East Asia to South America covering the east coast of Central and South America, including most of Brazil's major ports. The company is an exempted company incorporated under the laws of the Cayman Islands on February 28, 2022, as a holding company for the Caravelle Group Co. Ltd. and Pacifico Acquisition Corp. It changed its name to High-Trend International Group in January 2025.

Written from the business description in High-Trend International Group's annual report to the U.S. Securities and Exchange Commission, filed 23 January 2026. Every sentence was checked against that document before publication.

Growth
USD 214.4M
Revenue, FY2025 · full 6-year series below
Revenue $M Net income $M
FY2025 · Revenue 214.4 · Net income -21.5
80M160M202020212022202320242025
Compound annual growth
+5.0%
+22.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +22.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−9 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -9.3% · Net -9.4%
5%10%-5%-10%-15%202020212022202320242025
ROE
FY2025 · ROE -324.2%
500%-100%-200%-300%202020212022202320242025

Each USD of equity lost 324 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 4.6
2M4M202020212022202320242025
Net buybacks $M Dividends $M
FY2023 · Dividends 0.9 · Net buybacks —
8M16M20222023

Total assetsUSD 32.4M
EquityUSD 7.9M
CashUSD 10.1M
Current ratio1.54×

Equity funds 24% of total assets.

The 6-year record
6 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020
Revenue $B0.20.10.10.20.10.1
Operating income $B−0.00.0−0.00.00.0−0.0
EBITDA $B−0.00.0−0.00.00.0·
Income tax $B0.00.00.00.00.00.0
Net income $B−0.0−0.0−0.00.00.0−0.0
Free cash flow $B0.0····0.0
EPS, diluted $−4.18−10.02−4.450.240.11−0.06
Dividend / sh $······
Payout %··−10139··
ROE %−324.2··478.0909.5·
Shares out B·0.500.050.050.05·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures · 1 divergences in 28 reconciliationsAUDITED

Reconciled in 5 of 19 fiscal years. 1 of those reconciliations are divergences — the figures exist but don't fit the formula this check expects; that isn't the same as an error. 67 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures1 divergent
ActivityDeep Sea Foreign Transportation of Freight
Listed onNASDAQ
Incorporated inoutside the United States — SEC code E9
Fiscal year endsOctober 31
SEC categoryemerging growth company
Data on record since2020

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