New Risk • Apr 21
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 90% per year over the past 5 years. Shareholders have been substantially diluted in the past year (239% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (US$14.0m market cap). Reported Earnings • Feb 04
Full year 2025 earnings released: US$1.27 loss per share (vs US$0.21 loss in FY 2024) Full year 2025 results: US$1.27 loss per share (further deteriorated from US$0.21 loss in FY 2024). Revenue: US$5.10m (down 51% from FY 2024). Net loss: US$7.37m (loss widened US$6.93m from FY 2024). New Risk • Jan 19
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended March 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 84% per year over the past 5 years. Shareholders have been substantially diluted in the past year (347% increase in shares outstanding). Minor Risks Latest financial reports are more than 6 months old (reported March 2025 fiscal period end). Share price has been volatile over the past 3 months (12% average weekly change). Market cap is less than US$100m (US$19.6m market cap). Annonce • Dec 04
Linkage Global Inc announced that it has received $1 million in funding On December 3, 2025, Linkage Global Inc closed the transaction. New Risk • Oct 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 84% per year over the past 5 years. Shareholders have been substantially diluted in the past year (321% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$18.4m market cap). New Risk • Aug 12
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 84% per year over the past 5 years. Shareholders have been substantially diluted in the past year (253% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$20.0m market cap). Annonce • Apr 15
Linkage Global Inc Announces CEO Changes, Effective Date Is April 15, 2025 On April 14, 2025, Mr. Zhihua Wu (“Mr. Wu”) notified Linkage Global Inc. (the “Company”) of his resignation as the chief executive officer (the “CEO”) of the Company, effective on April 14, 2025. Mr. Wu has advised that his resignation was due to personal reasons and not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. Mr. Wu will remain as the chairman and a member of the board of directors (the “Board”) of the Company. To fill in the vacancy created by the resignation of Mr. Wu as the CEO of the Company, on April 15, 2025, the Board appointed Ms. Yang (Angela) Wang (“Ms. Wang”) to serve as the new CEO of the Company, effective on April 15, 2025. Ms. Wang has demonstrated financial expertise, project management skills, and effective leadership in various organizations and industries throughout her career. Since March 2025, she has been serving as a vice president at Vessel Global Capital, where she was responsible for evaluating prospective IPO readiness consulting cases and managing IPO and de-SPAC transactions. Since March 2024, she has been serving as a board secretary at Hudson Acquisition I Corp, where she was responsible for SEC compliance issues and board communications. Since January 2021, she has been serving as an adjunct lecturer at Baruch College. From May 2023 to March 2024, she served as an executive assistant at New York Standard Capital, where she was responsible for assisting the chief executive officer in developing Fintech financing models and account management. From October 2018 to January 2021, she served as a chief operation officer at DC Power Share, where she was responsible for administration and business development in the Tri-State area. From January 2020 to May 2021, she was a licensed agent at New York Life, where she was responsible for marketing life and health insurance to small business owners. From September 2012 to September 2018, she was a founder and chief executive officer at LYCW.INC, where she was responsible for establishing partnership with realtors, property management offices, and group renters. Ms. Wang obtained her bachelor’s degree in Chinese literature and linguistics from Peking University in June 2011 and master’s degree in social work from Columbia University in May 2015. Annonce • Apr 03
Linkage Global Announces 10 for 1 Share Consolidation to Regain Compliance with Nasdaq Marketplace Rule 5550(a)(2) Linkage Global Inc. announced that the Company’s board of directors approved on March 21, 2025 that the authorised, issued, and outstanding shares of the Company be consolidated on a 10 for 1 ratio with the marketplace effective date of April 7, 2025. The objective of the share consolidation is to enable the Company to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its listing on Nasdaq. Annonce • Feb 15
Linkage Global Inc, Annual General Meeting, Mar 10, 2025 Linkage Global Inc, Annual General Meeting, Mar 10, 2025, at 09:00 China Standard Time. Location: 25th floor, building a, sea lion intelligent center, no. 11 keji east road, high tech zone, fujian province, peoples republic of china, fuzhou city China New Risk • Feb 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (22% average weekly change). Revenue has declined by 19% over the past year. Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Market cap is less than US$10m (US$7.70m market cap). Reported Earnings • Dec 01
First half 2024 earnings released: US$0.067 loss per share (vs US$0.028 profit in 1H 2023) First half 2024 results: US$0.067 loss per share (down from US$0.028 profit in 1H 2023). Revenue: US$4.80m (down 47% from 1H 2023). Net loss: US$1.41m (down 353% from profit in 1H 2023). Recent Insider Transactions Derivative • Nov 15
Chairman of the Board & CEO notifies of intention to sell stock Zhihua Wu intends to sell 10m shares in the next 90 days after lodging an Intent To Sell Form on the 14th of November. If the sale is conducted around the recent share price of US$0.26, it would amount to US$2.6m. Since December 2023, Zhihua has owned 10.20m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Annonce • Nov 07
Linkage Global Inc Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency Linkage Global Inc. (the “Company” or “Linkage”) announced that, on October 31, 2024, the Company received a letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that based upon the closing bid price of the Class A ordinary shares of the Company for the last 30 consecutive business days, the Company no longer meets the continued listing requirement of Nasdaq under Nasdaq Listing Rules 5550(a)(2) to maintain a minimum bid price of $1 per share. The notification has no immediate effect on the listing or trading of the Company’s Class A ordinary shares on Nasdaq. Nasdaq has provided the Company with an 180 calendar days compliance period, or until April 29, 2025, in which to regain compliance with Nasdaq continued listing requirement. In the event that the Company does not regain compliance in the compliance period, the Company may be eligible for an additional 180 calendar days, should the Company meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, with the exception of the bid price requirement, and is able to provide written notice of its intention to cure the deficiency during the second compliance period, by effecting a reverse stock split, if necessary. However, if it appears that the Company will not be able to cure the deficiency, or if the Company is otherwise not eligible, Nasdaq will provide notice that the Company’s securities will be subject to delisting. The Company is currently evaluating options to regain compliance and intends to timely regain compliance with Nasdaq’s continued listing requirement. Although the Company will use all reasonable efforts to achieve compliance with Rule 5550(a)(2), there can be no assurance that the Company will be able to regain compliance with that rule or will otherwise be in compliance with other Nasdaq continued listing requirement. Annonce • Oct 14
Linkage Global Inc Appoints Hanson Ji as Chief Financial Officer Linkage Global Inc. appointed Mr. Hanson Ji as Chief Financial Officer, effective October 07, 2024. Mr. Hanson Ji has nearly 10 years of experience in the domains of auditing and capital market. From 2019 to 2022, he worked at Zhongrui Capital (Hong Kong) Ltd., serving as a senior project manager, responsible for financial consulting for IPO projects, and led and participated in the successful listing of several companies on the Hong Kong Stock Exchange. In 2018, Mr. Ji served as an internal control manager of Xingyin Information Technology (Shanghai) also known as, responsible for internal control audits. Prior to joining Zhongrui Capital and Xiaohongshu App, Mr. Ji worked at Ernst & Young Hua Ming LLP Shanghai Branch, serving as a senior auditor of TCE/ECU assurance department, where he participated and led audits for Hong Kong-listed companies and foreign-invested enterprises in China. Mr. Ji is a Chinese Certified Public Accountant. He obtained his Bachelor of Commerce in Accounting and Finance from Monash University in Australia in 2013. Board Change • Oct 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. COO & Director Ryo Fuyunishiki is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. New Risk • Sep 22
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$8.99m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (25% average weekly change). Revenue has declined by 62% over the past year. Market cap is less than US$10m (US$8.99m market cap). Reported Earnings • Sep 15
First half 2024 earnings released: US$0.043 loss per share (vs US$0.028 profit in 1H 2023) First half 2024 results: US$0.043 loss per share (down from US$0.028 profit in 1H 2023). Revenue: US$4.80m (down 47% from 1H 2023). Net loss: US$898.1k (down 262% from profit in 1H 2023). Annonce • Sep 12
Linkage Global Inc, Annual General Meeting, Oct 11, 2024 Linkage Global Inc, Annual General Meeting, Oct 11, 2024, at 10:00 China Standard Time. Location: 25th floor, building a, sea lion intelligent center, no. 11 keji east road, high tech zone, fujian province, fuzhou city China Recent Insider Transactions Derivative • Aug 19
Chairman of the Board & CEO notifies of intention to sell stock Zhihua Wu intends to sell 303k shares in the next 90 days after lodging an Intent To Sell Form on the 16th of August. If the sale is conducted around the recent share price of US$1.99, it would amount to US$602k. Since September 2023, Zhihua has owned 10.20m shares directly. There have been no trades via on-market transactions or options from company insiders in the last 12 months. Board Change • Apr 29
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. COO & Director Ryo Fuyunishiki is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Apr 18
Linkage Global Regains Compliance with Nasdaq Filing Requirement Linkage Global Inc. (the ‘Company’ or ‘Linkage’) announced that it has received a letter from The Nasdaq Stock Market LLC (‘Nasdaq’), confirming that the Company has regained compliance with Nasdaq's filing requirement set forth in Listing Rule 5250(c)(1). As previously reported, the company received a deficiency notice from Nasdaq on February 16, 2024, due to the delay in filing its Annual Report on Form 20-F for the fiscal year ended September 30, 2023. On April 12, 2024, the Company filed its Form 20-F and has now regained compliance with this Nasdaq's filing requirement. Annonce • Jan 30
Linkage Global Inc announced delayed 20-F filing On 01/29/2024, Linkage Global Inc announced that they will be unable to file their next 20-F by the deadline required by the SEC. Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.42, the stock trades at a trailing P/E ratio of 29.3x. Average trailing P/E is 25x in the Multiline Retail industry in the US. Board Change • Jan 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. COO & Director Ryo Fuyunishiki is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annonce • Dec 20
Linkage Global Inc has completed an IPO in the amount of $6 million. Linkage Global Inc has completed an IPO in the amount of $6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 1,500,000
Price\Range: $4
Discount Per Security: $0.28