Sign in

HTCO on Nasdaq

High-Trend International Group

High-Trend International Group is a Deep Sea Foreign Transportation of Freight company, active since 2022.2 It is headquartered in Singapore, Singapore.2 Its shares trade on Nasdaq under the symbol HTCO.2

Price unavailable

Last updated Oct 21, 2026.

Overview

$214.4MRevenue, fiscal 20253
-$21.5MNet income, fiscal 20253

Compare with DIANA SHIPPING INC., SEACOR Marine Holdings Inc. or Euroseas, or pick any stock.

  • TickerHTCO on Nasdaq2
  • IndustryDeep Sea Foreign Transportation of Freight2
  • HeadquartersSingapore, Singapore2
  • Incorporated inCayman Islands4
  • Business address60 Paya Lebar Road, #06-17 Paya Lebar Square, Singapore4
  • Filer categoryNon-accelerated filer, Emerging growth company4
  • Legal formcompany limited by shares2
  • LEI254900UN1T22NVM40M302
  • StatusActive2
  • LEI statusIssued and current2
  • Registered addressC/O Maples Corporate Services Limited, KY1-1104 George Town, Cayman Islands2
  • Registered withGeneral Registry, MC-3878322

See how the biggest companies compare on our leaderboards

2021, SGEX acquired a 90% interest in Topsheen Shipping Group Corporation (“TSGC”), a company incorporated in Samoa in 2012.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

3.2%Gross margin3
-9.3%Operating margin3
-10.0%Net margin3
98.2%Revenue growth, 20253
-272.5%Return on equity3
$4.6MFree cash flow3

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue97¢$207.6M
  • Other costs3¢$6.8M
  • Income tax0¢$9.1K

Out of $214.4M in revenue.3 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Capital spending0¢$5.1K
  • Kept or used elsewhere100¢$4.6M

Out of $4.6M of cash from operations.3

Financial statements

Revenue6783$214.4M in 2025+174% since 2020
0$100.0M$200.0M$300.0M2020: $78.4M$78.4M20202021: $122.0M$122.0M2021+56%2022: $185.3M$185.3M2022+52%2023: $95.3M$95.3M2023−49%2024: $108.2M$108.2M2024+14%2025: $214.4M$214.4M2025+98%
Gross profit6783$6.8M in 2025
-$20.0M-$10.0M0$10.0M$20.0M$30.0M2020: -$3.9M-$3.9M20202021: $13.0M$13.0M20212022: $26.8M$26.8M2022+107%2023: -$11.9M-$11.9M20232024: $8.1M$8.1M20242025: $6.8M$6.8M2025−16%
Operating income6783-$19.9M in 2025+247% since 2020
-$20.0M0$20.0M$40.0M2020: -$5.7M-$5.7M20202021: $10.5M$10.5M20212022: $23.6M$23.6M2022+125%2023: -$15.6M-$15.6M20232024: $2.3M$2.3M20242025: -$19.9M-$19.9M2025
Net income6783-$21.5M in 2025+577% since 2020
-$30.0M-$20.0M-$10.0M0$10.0M$20.0M2020: -$3.2M-$3.2M20202021: $5.3M$5.3M20212022: $12.2M$12.2M2022+130%2023: -$9.3M-$9.3M20232024: -$23.6M-$23.6M2024+153%2025: -$21.5M-$21.5M2025−9%
Fiscal year2019202020212022202320242025
Revenue$78.4M6$122.0M7$185.3M8$95.3M3$108.2M3$214.4M3
Cost of revenue$82.3M6$109.0M7$158.5M8$107.1M3$100.1M3$207.6M3
Gross profit-$3.9M6$13.0M7$26.8M8-$11.9M3$8.1M3$6.8M3
Operating expenses$2.5M7$3.3M8$3.7M3$5.8M3$26.7M3
Operating income-$5.7M6$10.5M7$23.6M8-$15.6M3$2.3M3-$19.9M3
Interest$60.3K6$122.4K7$101.9K7$112.0K7
Income before tax$10.3M7$23.6M8-$15.8M3-$21.2M3-$20.1M3
Income tax$2.4K6$2.1K7$11.2K8$2.5K3$4.1K3$9.1K3
Net income-$3.2M6$5.3M7$12.2M8-$9.3M3-$23.6M3-$21.5M3
Earnings per share-$0.066$0.117$0.248-$4.453-$10.023-$4.183
Earnings per share (diluted)-$0.066$0.117$0.248-$4.453-$10.023-$4.183
Shares (weighted, basic)50.0M shares750.0M shares82.1M shares32.4M shares35.5M shares3
Shares (weighted, diluted)50.0M shares750.0M shares82.1M shares32.4M shares35.5M shares3

Compare High-Trend International Group with another company

Corporate structure

High-Trend International Group sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of High-Trend International Group

  • CVI Investments, Inc. Filed SCHEDULE 13G/A on High-Trend International Group, latest Aug 14, 2026 (2 filings since May 19, 2026)
  • Streeterville Capital LLC Filed SCHEDULE 13G/A on High-Trend International Group, latest Apr 29, 2026 (2 filings since Nov 7, 2025)
  • Jinyu Chang Filed SCHEDULE 13D/A on High-Trend International Group, latest Apr 25, 2025 (4 filings since Jul 18, 2024)
  • Dong Zhang Filed SCHEDULE 13G/A on High-Trend International Group, latest Mar 21, 2025 (2 filings since Nov 7, 2023)
  • Guohua Zhang Filed SC 13D/A on High-Trend International Group, latest Jul 15, 2024 (3 filings since Oct 18, 2023)
  • MMCAP International Inc. SPC Filed SC 13G/A on High-Trend International Group, latest Feb 14, 2023
  • Polar Asset Management Partners Inc. Filed SC 13G/A on High-Trend International Group, latest Feb 13, 2023
  • High-Trend International Group Singapore, Singapore

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What High-Trend International Group reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$170.0K3 Oct 31, 2025$165.0K3 Oct 31, 2024+3.1%
Accumulated depreciation$165.3K3 Oct 31, 2025$164.8K3 Oct 31, 2024+0.3%
Property and equipment, net$4.8K3 Oct 31, 2025$2013 Oct 31, 2024+2271.6%
Operating-lease assets (leased space)$104.1K3 Oct 31, 2025$23.4K3 Oct 31, 2024+344.9%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$10.1M3 Oct 31, 2025$6.9M3 Oct 31, 2024+47.7%

Leadership

Who has led High-Trend International Group, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Shi'Xuan He2026–now

Chief financial officer

  1. Zi Xia2026–now
  • Chief executive officerShi'Xuan He Mar 23, 2026 to now10
  • Chief financial officerZi Xia Apr 29, 2026 to now11
Board members and other officers (8)

Former names

  • Caravelle International GroupMay 13, 2022 to Jan 16, 20254

Timeline

  1. Mar 23, 2026New chief executive Shi'Xuan He becomes CEO10
  2. Feb 28, 2022Founded High-Trend International Group is founded2

Filings

121 filings to the SEC since October 2021: 6 annual reports, 9 insider forms, 15 large holders, 91 other. The latest 20:

  1. Aug 24, 2026144 EDGAR
  2. Aug 14, 2026SCHEDULE 13G/A EDGAR
  3. Jul 22, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  4. May 19, 2026SCHEDULE 13G EDGAR
  5. May 14, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  6. May 14, 2026424B5 PROSPECTUS SUPPLEMENT EDGAR
  7. May 14, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  8. May 11, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  9. May 4, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  10. Apr 29, 2026SCHEDULE 13G/A EDGAR
  11. Apr 29, 20263 EDGAR
  12. Apr 6, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  13. Apr 6, 202620-F/A AMENDMENT NO. 1 TO FORM 20-F EDGAR
  14. Apr 2, 20263 EDGAR
  15. Mar 24, 20263 EDGAR
  16. Mar 23, 20263 EDGAR
  17. Mar 23, 20263 EDGAR
  18. Mar 17, 20263 EDGAR
  19. Mar 16, 20263 EDGAR
  20. Mar 16, 20263 EDGAR

The 121 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How High-Trend International Group is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHigh-Trend International Group1
  • CIK0001928948
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company5
  • Incorporated inCayman Islands5
  • Fiscal year endsOctober 311
  • Industry code (SIC)4412 Deep Sea Foreign Transportation of Freight1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address60 Paya Lebar Road, #06-17 Paya Lebar Square, Singapore, Singapore1
  • Phone(65) 8304 83721
  • Shares outstanding6,632,441 shares as of Oct 31, 20255
  • AuditorWWC, P.C, San Mateo, California PCAOB ID 1171; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceMay 13, 20221
  • Filings121 in all: 6-K (51), 3 (9), UPLOAD (7), 6-K/A (5), CORRESP (5), 20-F (4), 144 (3), SC 13D/A (3)1
    All 30 form types

    SCHEDULE 13G/A (3), 20-F/A (2), DRS/A (2), DRSLTR (2), EFFECT (2), F-3/A (2), F-4/A (2), SC 13D (2), SC 13G/A (2), SCHEDULE 13D/A (2), SCHEDULE 13G (2), 20FR12B (1), 424B3 (1), 424B5 (1), 8-A12B (1), CERT (1), DRS (1), F-3 (1), F-4 (1), NT 20-F (1), S-8 (1), SC 13G (1)

  • Latest filingsAnnual report (20-F) Jan 23, 2026

Securities registered for trading

ClassSymbolExchange
Class A Ordinary Shares, $0.0025 par value per shareHTCONasdaq

From the cover page of the 20-F filed Jan 23, 2026 (Section 12(b) of the Exchange Act).5

Sources

The numbers on this page point here. Each one links to the record it came from.

  1. 1
  2. 2
  3. 3
  4. 4
  5. 5
  6. 6
  7. 7
  8. 8
  9. 9
  10. 10
  11. 11
  12. 12
  13. 13
  14. 14
  15. 15
  16. 16
  17. 17
  18. 18
  19. 19
  20. 20
  21. 21
  22. 22
  23. 23
  24. 24