New Risk • May 21
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 76% 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 (78% average weekly change). Earnings have declined by 67% per year over the past 5 years. Shareholders have been substantially diluted in the past year (76% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$48.2m market cap). Duyuru • May 15
High-Trend International Group has completed a Follow-on Equity Offering in the amount of $15.00005 million. High-Trend International Group has completed a Follow-on Equity Offering in the amount of $15.00005 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,307,700
Price\Range: $6.5
Discount Per Security: $0.455
Transaction Features: Registered Direct Offering Duyuru • May 14
High-Trend International Group has filed a Follow-on Equity Offering in the amount of $15.00005 million. High-Trend International Group has filed a Follow-on Equity Offering in the amount of $15.00005 million.
Security Name: Class A Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,307,700
Price\Range: $6.5
Transaction Features: Registered Direct Offering Duyuru • Jan 28
High-Trend International Group Appoints Chew Men Leong as Director, Effective as of January 26, 2026 High-Trend International Group announced the appointment of Mr. Chew Men Leong, former Chief of Navy of the Republic of Singapore Navy and a veteran leader in infrastructure and global business, as a director of the Company, effective as of January 26, 2026. This appointment marks a pivotal step in HTCO's strategy to deepen its global maritime footprint, strengthen its capital position and enhance its presence in the Singapore market. Maritime command experience: As the former Chief of Navy of the Republic of Singapore Navy, Mr. Chew played a central role in the development and implementation of Singapore's next-generation navy strategy. Capital markets and M&A track record: During his tenure as a senior executive at ST Engineering, a global technology and defense group majority-owned by Temasek Holdings, he led the company's largest-ever cross-border acquisition – the USD 2.68 billion all-cash purchase of U.S. transportation technology leader TransCore – and played a decisive role in the global go-to-market strategy and post-acquisition integration.Large-scale business leadership: As the founding President of ST Engineering's Urban Solutions business, he led a global portfolio spanning more than 150 cities, achieving annual revenue exceeding 1.6 billion SGD and an order book of over 6 billion SGD.Public sector and infrastructure governance: Mr. Chew previously served as Chief Executive of the Land Transport Authority (LTA) and the Public Utilities Board (PUB) of Singapore, overseeing the nation's critical land transport and water infrastructure. Mr. Chew holds a first-class honours degree in Electrical and Electronic Engineering from Imperial College London and a Master of Science in Management (Sloan Programme) from Stanford University. He has also completed the Advanced Management Programme at the Wharton School of Business. He has served on the boards and councils of leading organizations including Jurong Port, the Maritime and Port Authority of Singapore (MPA) and the Urban Redevelopment Authority (URA). Reported Earnings • Jan 25
Full year 2025 earnings released: US$3.92 loss per share (vs US$10.02 loss in FY 2024) Full year 2025 results: US$3.92 loss per share (improved from US$10.02 loss in FY 2024). Revenue: US$214.4m (up 98% from FY 2024). Net loss: US$21.5m (loss narrowed 9.0% from FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 35 percentage points per year, which is a significant difference in performance. Duyuru • Jan 13
High-Trend International Group Appoints Shahryar Oveissi as the Chief Capital Markets Officer, Effective from January 9, 2026 High-Trend International Group announced the appointment of Mr. Shahryar Oveissi, effective January 9, 2026 as the Chief Capital Markets Officer (CCMO). Mr. Oveissi has over two decades of experience in international project finance, private equity, venture capital, sustainability, and emerging-market development across Africa, Asia, the Middle East, and the United States. Since December 2025, Mr. Oveissi has served as Special Presidential Envoy to President Joseph Boakai of the Republic of Liberia, where he was appointed to lead fundraising initiatives for the Omega Market Project, a planned landmark market development aimed at empowering market women and strengthening local economic participation. Since July 2025, he has served as a General Partner at 108 BioCapital, an early-stage venture capital firm focused on life sciences and biotechnology investments. Since October 2024, he has also been a Partner of The Latitude Hotels Group, an African lifestyle hospitality platform operating in urban markets across the continent. From January 2023 to June 2025, he also served as Co-Founder and Managing Partner of Argali Climate Fund. Since June 2023, Mr. Oveissi has been a Co-Founder of BioSource Feeds, a sustainable agriculture company. Since July 2022, Mr. Oveissi has been the Co-Founder and Chief Carbon Officer of Argali Carbon Corporation, a U.S.-based corporation that focuses on developing carbon offset and climate-mitigation projects. Mr. Oveissi is also the Co-Founder and Managing Partner of OC Global Partners, LLC, an international consulting firm. Mr. Oveissi served as Head of the Diabetes Platform at Diomics Corporation from October 2020 to July 2022, and as an Operating Partner at Rose Capital from December 2019 to August 2020. Mr. Oveissi received his Bachelor of Science degree from the NYU Stern School of Business. Duyuru • Aug 29
High-Trend International Group (NasdaqCM:HTCO) announces an Equity Buyback for $5 million worth of its shares. High-Trend International Group (NasdaqCM:HTCO) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its its Class A ordinary shares, each with a par value of $0.0025. The repurchased shares will be funded using the Company’s existing cash and future operating cash flows. All shares repurchased will be returned to treasury and cancelled. The program will valid till August 23, 2027. Reported Earnings • Aug 13
First half 2025 earnings released: US$2.69 loss per share (vs US$0.36 loss in 1H 2024) First half 2025 results: US$2.69 loss per share (further deteriorated from US$0.36 loss in 1H 2024). Revenue: US$99.4m (up 185% from 1H 2024). Net loss: US$13.3m (loss widened US$12.5m from 1H 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 45 percentage points per year, which is a significant difference in performance. Duyuru • Jun 12
High-Trend International Group Announces Executive and Board Changes, Effective May 13, 2025 Effective March 13, 2025, Mr. Jinyu Chang resigned as the chairman of the Board of Directors of High-Trend International Group. He will continue to serve as a director of the Company. Also effective March 13, 2025, Mr. Christopher Nixon Cox was elected to serve as a director and the chairman of the Board of the Company. The Company also named Mr. Bo Cui as its new Chief Legal Officer. Duyuru • Jun 11
Christopher Renn Resigns as the Chairman of the Compensation Committee of the Board of High-Trend International Group, Effective June 3, 2025 Effective June 3, 2025, Mr. Christopher Renn resigned as the chairman of the Compensation Committee of the Board of High-Trend International Group. The resignation of Mr. Renn was not a result of any disagreement with the Company on any matter related to the operations, policies, or practices of the Company. Duyuru • Jun 10
High-Trend International Group Appoints Brian B. Su as Independent Director and Chairman of the Compensation Committee High-Trend International Group announced the appointment of Mr. Brian B. Su as an Independent Director and Chairman of the Company's Compensation Committee, effective immediately. Mr. Su is a distinguished international business advisor and compliance expert with over 30 years of experience in cross-border investment, regulatory strategy, and market expansion. He is the Founder and President of Artisan Business Group Inc., a U.S.-based consultancy headquartered in Springfield, Illinois. The firm has built a strong track record advising U.S. and global companies on market entry strategies, commercial risk assessment, and international business development, particularly across North America, Asia, and Latin America. Mr. Su previously served in the Illinois state government for over a decade, including his role as a Compliance Specialist at the Illinois Department of Transportation. During his tenure, he was responsible for overseeing contract compliance, federal and state regulatory enforcement, and fraud prevention in large-scale public infrastructure projects. His expertise in legal oversight and public-sector compliance has been instrumental in helping organizations manage risk, ensure transparency, and meet evolving regulatory demands. Since founding Artisan Business Group in 2011, Mr. Su has advised hundreds of businesses and government entities in industries such as logistics, energy, real estate, artificial intelligence, and maritime transport. His work often involves leading international delegations, facilitating investment missions, supporting bilateral negotiations, and evaluating geopolitical and legal risks across complex global markets. Mr. Su holds a Master of Public Administration (MPA) from the University of Illinois at Springfield and a Bachelor of Arts degree in English Language and Literature from Guizhou University in China. As a naturalized U.S. citizen and longtime resident of Illinois, he brings a unique blend of cross-cultural insight and public-private leadership to the boardroom. New Risk • May 15
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: US$47.8m This is considered a minor 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 (34% average weekly change). Earnings have declined by 72% per year over the past 5 years. Shareholders have been substantially diluted in the past year (127% increase in shares outstanding). Minor Risk Market cap is less than US$100m (US$47.8m market cap). Duyuru • Mar 13
High-Trend International Group Announces Board and Executive Changes High-Trend International Group announced the appointment of Christopher Nixon Cox, as Chairman of the Company, effective immediately. Mr. Cox, a venture capitalist and advocate for socially impactful investing, will leverage his extensive expertise in global markets and sustainability to drive the Company's strategic growth in innovation-driven sectors. Mr. Jinyu Chang resigned as Chairman while remaining a director of the Company. The Company also named Mr. Bo Cui as its new Chief Legal Officer, underscoring its commitment to strengthening governance and global compliance amid rapid expansion. Mr. Christopher Nixon Cox has served as a member of the board of directors of Alto Neuroscience Inc. (ANRO on NYSE) since April 2022. Since December 2021, Mr. Cox has served as Chief Executive Officer of Lightswitch Capital, a private equity firm dedicated to funding breakthrough therapies for severe diseases and advancing green infrastructure in emerging markets. In addition, Mr. Cox has served as Chief Executive Officer of Argali Carbon Corporation, a carbon offset developer, since November 2022 and of BioSource Feed Corporation, a pioneer in sustainable agriculture, since October 2023. From December 2018 until March 2020, Mr. Cox served as Vice Chairman of Brightsphere Inc., a publicly traded asset manager. Mr. Cox has also served as the Managing Partner and co-founder of OC Global Partners LLC, a financial services company, since October 2006. Previously, Mr. Cox served as a corporate associate at the law firm of Weil, Gotshal & Manges LLP from 2004 to 2006. Mr. Cox received a J.D. degree from the New York University School of Law, a certificate in Finance from New York University Stern School and a B.A. degree in Politics from Princeton University. As the grandson of President Richard Nixon, Mr. Cox upholds his family's legacy of public service and international diplomacy. He serves on the Board of the Richard Nixon Foundation and founded the Sunswyck Foundation to strengthen U.S.-China relations. Mr. Cui joins HTCO with over two decades of experience in cross-border finance, mergers and acquisitions, and large-scale infrastructure investments. During his tenure as Director of Investments at HNA Group, a global aviation, travel, and financial services conglomerate, he led a team of 10 across Hong Kong and New York to execute over $10 billion in strategic deals. A licensed attorney in New York and USPTO-registered patent practitioner, Mr. Cui holds a Juris Doctor degree from Georgetown University Law Center and a B.S. degree in Mathematics and Computer Science from the University of Illinois. Duyuru • Mar 12
High-Trend International Group announced that it has received $4.452999 million in funding from Speed Wealthy Ltd. High-Trend International Group announced a private placement that it has issued ,699,618 Class A ordinary shares of the Company at an issue price of $2.62 per share for the gross proceeds of up to $4,452,999.16 on March 10, 2025. This private placement transaction was approved unanimously by the board of directors of the Company. New Risk • Mar 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 123% 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 (23% average weekly change). Earnings have declined by 72% per year over the past 5 years. Shareholders have been substantially diluted in the past year (123% increase in shares outstanding). Reported Earnings • Feb 28
Full year 2024 earnings released: US$0.40 loss per share (vs US$0.18 loss in FY 2023) Full year 2024 results: US$0.40 loss per share (further deteriorated from US$0.18 loss in FY 2023). Revenue: US$108.2m (up 14% from FY 2023). Net loss: US$23.6m (loss widened 153% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Duyuru • Jan 17
Caravelle International Group Appoints Shixuan He as Chief Executive Officer Caravelle International Group announced appointment of Shixuan He as the Company's Chief Executive Officer. The strategic appointment is aimed at driving the company's transition towards sustainable maritime practices and enhancing its management systems. Mr. He, with his 15 years of management experience, has accumulated rich industry insights and exceptional leadership skills. His career has spanned large-scale diversified holding groups, rapidly growing intelligent and connected innovation enterprises, and the new energy and low-carbon field, demonstrating his adaptability and strategic vision in various business environments and achieving outstanding results in expanding business cooperation with multiple international well-known enterprises. In 2014, after joining High-Trend Technology Co. Ltd. as CEO, Mr. He led the development of the smart streetlight project and introduced the innovative concept of "one road, one network, one platform" for urban infrastructure IoT. In 2015, he collaborated with General Electric (GE) to build China's first large-scale smart streetlight IoT platform project, with a total investment of 200 million RMB. Building on the success of this project, he signed a global strategic cooperation agreement with GE at the 6th China-US Energy Efficiency Forum, witnessed by the National Development and Reform Commission of China and the U.S. Department of Energy. This agreement facilitated the global promotion of both parties' R&D achievements. In 2019, the cooperation results of this project were successfully replicated in the Brazilian market, achieving significant project outcomes. In 2020, Mr. He focused on new energy and low-carbon emission reduction projects, pioneering multiple projects in the field of green biomass energy and carbon asset development. Mr. He's strategic vision and extensive experience will inject strong momentum into sustainable development strategy. These appointments come at a significant time as the company is focused on enhancing its management systems and committing to ocean carbon neutrality. The new leadership will guide company in leveraging cutting-edge technology and finance integration to achieve sustainable development and create substantial opportunities for long-term growth and shareholder value. Mr. He obtained his bachelor's degree in Automation from Dalian University of Technology in 1997. Duyuru • Jan 15
Caravelle International Group Appoints Xuanhua Xi as Independent Director and Chairman of the Audit Committee Caravelle International Group announced appointment of Xuanhua Xi as an independent director and Chairman of the Audit Committee. The strategic appointment are aimed at driving the company's transition towards sustainable maritime practices and enhancing its management systems. Ms. Xi possesses extensive experience in the field of professional financial services, particularly excelling in financial innovation. She has held senior management positions in several well-known financial institutions, accumulating profound professional knowledge and practical experience. Ms.Xi has been serving as the Chief Risk officer of DigiFT Technology Group, a Singapore-based on-chain capital market operation and service provider, since December 2024. She served as the Deputy Chief Executive Officer of Neutral Financial Holding Company Limited, a Hong Kong-based licensed financial service provider, from July 2024 to December 2024. Previously, she served as the Deputy Chief Executive Officer of BOCOM International Holdings Co. Ltd., a Hong Kong-based and listed financial service provider, from July 2017 to December 2023. She was also the General Manager of BOCOM International (Shanghai) Equity Investment Management Co. Ltd., an investment management company, from November 2020 to January 2022. From March 2015 to July 2017, she served as the General Manager of BOCOM International Securities Ltd., a company providing securities brokerage services. Ms. Xi's exceptional leadership in financial innovation and global perspective will further enhance competitiveness in the capital markets. These appointments come at a significant time as the company is focused on enhancing its management systems and committing to ocean carbon neutrality. The new leadership will guide company in leveraging cutting-edge technology and finance integration to achieve sustainable development and create substantial opportunities for long-term growth and shareholder value. Duyuru • Jan 04
Caravelle International Group Approves Removal of Guohua Zhang as a Director At the Annual Meeting of Caravelle International Group held on January 3, 2025, the shareholders voted to approve the proposed removal of Mr. Guohua Zhang as a director of the Company. Duyuru • Nov 26
Caravelle International Group, Annual General Meeting, Jan 03, 2025 Caravelle International Group, Annual General Meeting, Jan 03, 2025. Duyuru • Nov 19
Caravelle International Group Regains Compliance with Nasdaq Minimum Bid Price Requirement Caravelle International Group announced that it received a notification letter from the Listing Qualifications Department of the Nasdaq Stock Market (‘Nasdaq’), informing the Company that it has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules. The Company had previously announced on July 31, 2024, that it was notified by Nasdaq on July 26, 2024 that it was not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), as the closing bid price of the Company's ordinary shares had been below $1.00 per share for more than 30 consecutive business days. Pursuant to Rule 5810(c)(3)(A) of the Nasdaq Listing Rules, the Company has a compliance period of 180 calendar days, or until January 22, 2025, to regain compliance with Nasdaq's minimum bid price requirement. On November l4, 2024, Nasdaq provided confirmation to the Company that for the last 19 consecutive business days, from October 18, 2024 to November 13, 2024, the closing bid price of the Company's ordinary shares had been $1.00 per share or greater, that the Company has hence regained compliance with Listing Rule 5550(a)(2) and that the matter is now closed. Duyuru • Oct 30
Caravelle International Group Announces Board Appointments Caravelle International Group announced the appointment of Jinyu Chang as Chairman of the Board of Directors and Xin He as an independent director and Chair of the Audit Committee. These strategic appointments come at a pivotal moment as the Company is focused on enhancing its internal management systems and advancing its commitment to ocean carbon neutrality. Mr. Chang is a Co-Founder of High Trend International, an investment holding company with a significant footprint in smart city and smart lighting initiatives. Through various joint ventures, High Trend International has become one of the largest concession holders in Latin America, operating and developing approximately 1,000,000 lighting points. The company's projects encompass small cell 5G tower rentals, IoT devices, Wi-Fi zones, and cameras, with project financings exceeding USD 300. With over 20 years of experience in smart city development, Mr. Chang is poised to provide invaluable insights into the maritime industry's transition towards sustainability. Mr. He has served as the CFO for Wanda America Entertainment Inc. since May 2012. He has overseen the development of the iconic 101-story "Vista Tower" in Chicago and the $2.6 billion acquisition of AMC Entertainment Inc.Mr. He's expertise extends to multiple executive roles at Professional Diversity Network Inc. since 2019. His background in public companies and cross-border mergers and acquisitions makes him an asset to company. The appointments of Mr. Chang and Mr. He reflect Caravelle International Group's dedication to strengthening its internal management systems and promoting sustainable business practices. New Risk • Sep 16
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risks No financial data reported. Share price has been highly volatile over the past 3 months (20% average weekly change). Minor Risks Shareholders have been diluted in the past year (5.7% increase in shares outstanding). Market cap is less than US$100m (US$17.3m market cap). Reported Earnings • Sep 11
Full year 2023 earnings released: US$0.18 loss per share (vs US$0.24 profit in FY 2022) Full year 2023 results: US$0.18 loss per share (down from US$0.24 profit in FY 2022). Revenue: US$95.3m (down 49% from FY 2022). Net loss: US$9.33m (down 176% from profit in FY 2022). Duyuru • Aug 07
Caravelle International Group Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency On July 26, 2024, Caravelle International Group (the "Company") received a deficiency letter (the "Nasdaq Bid Price Deficiency Letter") from Nasdaq notifying the Company that, for the last 33 consecutive business days, the closingbid price for the Company's ordinary shares has been below the minimum $1.00 per share required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2). The Nasdaq Bid Price Deficiency Letter has no immediate effect on the listing of the Company's common stock, and its common stock will continue to trade on The Nasdaq Capital Market under the symbol "CACO" at this time. Under Rule 5810(c)(3)(A), the Company will be provided a compliance period of 180 calendar days, until January 22, 2025, to regain compliance. If at any time during this 180-day period the closing bid price of the Company's securities is at least $1.00 for a minimum of ten consecutive business days, the Company's compliance with Rule 5550(a)(2) will be regained. In the event the Company does not regain compliance in the first compliance period, it may be eligible to apply for an additional 180 calendar days to regain compliance. To qualify, the Company will be required to 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. The Company will also need to provide written notice of its intention to cure the deficiency during the second compliance period. However, if it appears to the NASDAQ staff that the Company will neither be able nor otherwise eligible to cure the deficiency, it may be subject to delisting by NASDAQ. The Company intends to actively monitor the closing bid price for its ordinary shares and will consider available options to resolve the deficiency and regain compliance with Rule 5550(a)(2). Duyuru • Jul 17
High-Trend International agreed to acquire an unknown minority stake in Caravelle International Group (NasdaqCM:CACO) from Galion-Group Co., Ltd for SGD 3 million High-Trend International agreed to acquire a 35.85% stake in Caravelle International Group (NasdaqCM:CACO) from Galion-Group Co., Ltd for SGD 3 million on July 11, 2024. High-Trend will acquire 20 million shares. New Risk • Jul 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.9% This is considered a minor 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 (23% average weekly change). Revenue has declined by 15% over the past year. Minor Risks Profit margins are more than 30% lower than last year (1.7% net profit margin). Shareholders have been diluted in the past year (6.9% increase in shares outstanding). Market cap is less than US$100m (US$29.6m market cap). Board Change • May 29
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. Independent Director Edward Wang is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Mar 30
Caravelle International Announces Receipt of Nasdaq Deficiency Notice Caravelle International Group announced that it received a notice from The Nasdaq Stock Market LLC (Nasdaq) indicating that, as a result of not having timely filed its Annual Report on Form 20-F for the fiscal year ended October 31, 2023, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission. The Notice has no immediate impact on the listing of the Company's securities, which will continue to trade on Nasdaq, subject to the Company's compliance with the other continued listing requirements of Nasdaq. Under the Nasdaq Listing Rules, the Company has 60 calendar days from the date of the Notice to submit a plan of compliance to Nasdaq. If Nasdaq accepts the plan, they can grant the Company an exception of up to 180 calendar days from the original due date of the Form 20-F, or until Sept. 10, 2024, to regain compliance. However, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If the Company fails to timely regain compliance with the Nasdaq Listing Rules, the securities of the Company will be subject to delisting from Nasdaq. The Company intends to file the Annual Report as soon as practicable. The company is fully committed to satisfying all of NASDAQ's listing requirements. The company has implemented a comprehensive plan to enhance its internal reporting processes and is working closely with its auditors and legal advisors to ensure the timely and accurate submission of all necessary documents. Duyuru • Mar 01
Caravelle International Group announced delayed 20-F filing On 02/29/2024, Caravelle International Group announced that they will be unable to file their next 20-F by the deadline required by the SEC. New Risk • Feb 03
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: Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Market cap is less than US$100m (US$26.1m market cap). Duyuru • Nov 18
Caravelle International Group Announces Receipt of Nasdaq Notification and Outlines Compliance Plan Caravelle International Group announced that it has received a notification from the Nasdaq Stock Market LLC ("Nasdaq") regarding its compliance status. The notice, received on November 14, 2023, indicates that Caravelle International Group has not filed its interim financial statements for the six-month period ended April 30, 2023, and as a result, is currently non compliant with Nasdaq's Listing Rules for continued listing. According to the notification from Nasdaq, Caravelle International Group has been given a period of 60 calendar days, until January 16, 2024, to submit a detailed plan to regain compliance. If Nasdaq accepts the Company's plan, Caravelle International Group may be granted an extension of up to 180 calendar days from the original filing due date, or until April 29, 2024, to achieve compliance. Mr. Guohua Zhag, Chief Executive Officer of Caravelle International Group, stated, "We are taking this matter very seriously and are working diligently to address the issues that have led to the delay. We are confident in our ability to formulate and execute a robust plan to regain compliance within the stipulated timeframe". Recent Insider Transactions Derivative • Nov 10
CEO, Interim CFO & Director notifies of intention to sell stock Guohua Zhang intends to sell 528k shares in the next 90 days after lodging an Intent To Sell Form on the 10th of November. If the sale is conducted around the recent share price of US$0.65, it would amount to US$340k. As of today, Guohua currently holds no shares directly (This sale likely refers to shares that have not yet been received). There have been no trades via on-market transactions or options from company insiders in the last 12 months. Reported Earnings • Aug 30
Full year 2022 earnings released: EPS: US$0.24 (vs US$106 in FY 2021) Full year 2022 results: EPS: US$0.24. Revenue: US$185.3m (up 52% from FY 2021). Net income: US$12.2m (up 130% from FY 2021). Profit margin: 6.6% (up from 4.4% in FY 2021). The increase in margin was driven by higher revenue. Duyuru • Jul 23
The Nasdaq Stock Market LLC Grants Extension to Caravelle International to Regain Compliance with Filing Requirements On July 21, 2023, Caravelle International Group announced that it has received a letter from The Nasdaq Stock Market LLC (‘Nasdaq’), granting the company an extension to regain compliance with Nasdaq's filing requirements set in Listing Rule 5250(c)(1). As previously reported, the Company received a deficiency notice from Nasdaq on May 10, 2023, due to the delay in filing its Annual Report on Form 20-F for the fiscal year ended October 31, 2022. The delay in filing has been attributed to the complexities involved in transitioning from a privately held company to a public company, subject to the reporting and compliance obligations under the Securities Exchange Act of 1934. The Company has been working diligently with its independent registered public accounting firm to rectify this situation and has been granted an extension until August 28, 2023, to file its Form 20-F and regain compliance. If the Company files the Form 20-F on or before the extended deadline, it will be considered in compliance with Nasdaq's filing requirements. While there can be no assurance, based on current discussions with its auditor, the Company believes it will file the Annual Report before the August 28, 2023, deadline. However, if the Company fails to file the Form 20-F by the extension date, the Company may be subject to delisting. The Company wishes to assure its investors that regaining compliance with Nasdaq's filing requirements remains a top priority. The management is committed to taking all necessary steps towards the timely filing of the Form 20-F and appreciates the continued patience and support of its shareholders during this period. Duyuru • Jun 14
Caravelle International Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency Caravelle International Group announced that it received a notification letter dated June 7, 2023 (the "Notice") from The Nasdaq Stock Market LLC ("Nasdaq"), indicating that the Company was not in compliance with Nasdaq Listing Rule 5550(a)(2) due to the closing bid price for the Company's ordinary shares being below $1.00 per share for the last 30 consecutive business days. In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days, or until December 4, 2023, to regain compliance. To regain compliance, the closing bid price for the Company's ordinary shares must meet or exceed $1.00 per share for a minimum of ten (10) consecutive business days during the compliance period ending December 4, 2023. Should the Company not regain compliance during the initial compliance period, it may be eligible for additional time. To qualify for this, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the bid price requirement. In addition, the Company will need to provide written notice of its intention to cure the deficiency during the second compliance period, potentially effecting a reverse stock split if necessary. If the Company meets these requirements, Nasdaq will inform the Company it has been granted an additional 180 calendar days to regain compliance with Nasdaq's current listing requirements. The Notice does not have an immediate effect on the listing of the Company's ordinary shares, and the Company's ordinary shares will continue to trade on The Nasdaq Capital Market under the symbol "CACO". However, there can be no assurance that the Company will be able to regain compliance with the minimum bid price requirement or maintain compliance with other Nasdaq listing standards. Duyuru • May 18
Caravelle International Group Announces Receipt of Nasdaq Deficiency Notice Caravelle International Group announced that it received a notice from The Nasdaq Stock Market LLC (Nasdaq) indicating that, as a result of not having timely filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2022, the Company is not in compliance with Nasdaq Listing Rule 5250(c)(1), which requires timely filing of all required periodic financial reports with the Securities and Exchange Commission. The Notice has no immediate impact on the listing of the Company's securities, which will continue to trade on Nasdaq, subject to the Company's compliance with the other continued listing requirements of Nasdaq. Under the Nasdaq Listing Rules, the Company has 60 calendar days from the date of the Notice to submit a plan of compliance to Nasdaq. If Nasdaq accepts the plan, they can grant the Company an exception of up to 180 calendar days from the original due date of the Form 20-F, or until October 30, 2023, to regain compliance. However, there can be no assurance that Nasdaq will accept the Company's plan to regain compliance or that the Company will be able to regain compliance within any extension period granted by Nasdaq. If the Company fails to timely regain compliance with the Nasdaq Listing Rules, the securities of the Company will be subject to delisting from Nasdaq. The Company intends to file the Annual Report as soon as practicable. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to US$1.17, the stock trades at a trailing P/E ratio of 3.9x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 88% over the past year. Valuation Update With 7 Day Price Move • Mar 22
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to US$1.10, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 2x in the Shipping industry in the US. Total loss to shareholders of 89% over the past year. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to US$1.24, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 3x in the Shipping industry in the US. Total loss to shareholders of 88% over the past year. Valuation Update With 7 Day Price Move • Feb 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$1.72, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 3x in the Shipping industry in the US. Total loss to shareholders of 83% over the past year.