Overview
Compare with Eastern International Ltd., New Century Logistics (BVI) Ltd or Jayud Global Logistics Ltd, or pick any stock.
- TickerPSIG on Nasdaq1
- IndustryArrangement of Transportation of Freight & Cargo1
- HeadquartersE91
- Incorporated inCayman Islands2
- Business addressUn. 1002, 10/F, Join-In Hang Sing Ctr.,, #2-16 Kwai Fung Crescent, Kwai Chung, Nt, Hong Kong2
- Filer categoryNon-accelerated filer, Emerging growth company2
See how the biggest companies compare on our leaderboards
Ordinary Shares issued in the private placement and the Ordinary Shares issuable upon exercise of the Warrants.3 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
1.9%Gross margin4
-2.9%Operating margin4
-28.6%Net margin4
-39.0%Revenue growth, 20254
-$5.6MFree cash flow4
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Freight Forwarding Services brought in 50% of the revenue PS International Group Ltd. broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Freight Forwarding Services | $140.0M | $87.2M | $53.2M |
| Import Shipments | $140.0M | $87.1M | $53.1M |
Regions
United States brought in 71% of the revenue PS International Group Ltd. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $122.3M | $61.7M | $37.8M |
| Others | $6.3M | $13.0M | $8.8M |
| United Kingdoms | $3.7M | $6.0M | $3.7M |
| Netherlands | $7.7M | $6.4M | $2.8M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue98¢$52.1M
- Other costs2¢$1.0M
- Income tax0¢$1.7K
Out of $53.2M in revenue.4 The company lost money this year.
Financial statements
No quarterly figures reported.
Every line of the income statement as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| TOTAL REVENUE | $53.2M | $87.2M | $140.0M |
| TOTAL COST OF REVENUE | $52.1M | $83.6M | $127.3M |
| GROSS PROFIT | $1.0M | $3.5M | $12.8M |
| (Provision for) Reversal of compensation and penalty | $1.5M | -$1.2M | |
| General and administrative expenses | -$4.0M | -$8.8M | -$5.5M |
| Total operating expenses | -$2.6M | -$8.8M | -$6.8M |
| INCOME (LOSS) FROM OPERATIONS | -$1.5M | -$5.3M | $6.0M |
| Interest income | $50.6K | $66.1K | $79.2K |
| Interest expense | -$35.1K | -$1.3K | |
| Other income | $38.7K | $37.4K | $143.3K |
| Loss on Private Placement | -$6.1M | ||
| Issuance costs related to Private Placement | -$1.0M | ||
| Change in fair value of warrant liabilities | -$6.7M | ||
| Unrealized gains on marketable equity securities | $2.3K | ||
| Other (loss) gain | $75.0K | -$9.1K | -$208.2K |
| Total other income (expense), net | -$13.7M | $94.4K | $13.0K |
| INCOME (LOSS) BEFORE INCOME TAX | -$15.2M | -$5.2M | $6.0M |
| INCOME TAX (EXPENSE) BENEFIT | -$1.7K | $358.7K | -$1.4M |
| NET INCOME (LOSS) | -$15.2M | -$4.8M | $4.6M |
| LESS: NET INCOME ATTRIBUTABLE TO NON-CONTROLLING INTEREST | $1.6K | $7.7K | $34.8K |
| NET INCOME (LOSS) ATTRIBUTABLE TO ORDINARY SHAREHOLERS OF THE COMPANY | -$15.2M | -$4.8M | $4.6M |
| TOTAL COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ORDINARY SHAREHOLERS OF THE COMPANY | -$15.2M | -$4.8M | $4.6M |
| Basic (in Shares) | 4.0M shares | 2.8M shares | 2.5M shares |
| Diluted (in Shares) | 4.0M shares | 2.8M shares | 2.5M shares |
| Basic (in Dollars per share) | -$3.81 | -$1.73 | $1.83 |
| Diluted (in Dollars per share) | -$3.81 | -$1.73 | $1.83 |
No quarter-by-quarter statement was filed.
No quarterly figures reported.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $8.9M | $8.2M | $10.8M | |
| Restricted cash | $2.2M | $2.2M | ||
| Accounts receivable, net | $9.5M | $12.8M | ||
| Contract assets, net | $465.7K | $1.1M | ||
| Loan receivable, net | $2.0M | |||
| Marketable equity securities | $5.0M | |||
| Prepayments and other current assets, net | $256.5K | $67.8K | ||
| Total current assets | $30.1M | $24.4M | ||
| Property, plant and equipment, net | $4.3M | $127.4K | ||
| Right-of-use assets | $94.6K | $130.1K | ||
| Total non-current assets | $4.4M | $257.5K | ||
| TOTAL ASSETS | $34.5M | $24.7M | ||
| Accounts payable | $10.3M | $11.3M | ||
| Contract liabilities | $25 | $1.5K | ||
| Other payables and accrued liabilities | $502.4K | $445.3K | ||
| Provisions for compensation and penalty | $1.6M | |||
| Tax payables | $17.5K | |||
| Lease liabilities current | $56.3K | $101.9K | ||
| Borrowings | $4.7M | |||
| Warrant liabilities | $22.4M | |||
| Dividend payables | $54.8K | $54.8K | ||
| Total current liabilities | $38.1M | $13.8M | ||
| Lease liabilities non-current | $39.2K | $29.4K | ||
| Total non-current liability | $39.2K | $29.4K | ||
| TOTAL LIABILITIES | $38.2M | $13.9M | ||
| Ordinary shares, par value $0.0008 per share, 62,500,000 shares authorized including 50,000,000 Ordinary Shares and 12,500,000 Undesignated Shares; 3,247,117 and 8,623,102 issued and outstanding as of December 31, 2024 and 2025, respectively* | $6.9K | $2.6K | ||
| Additional paid-in capital | $11.4M | $10.6M | ||
| Retained earnings (Accumulated deficit) | -$15.1M | $133.3K | ||
| Accumulated other comprehensive loss | -$41.4K | -$41.4K | ||
| Total shareholders equity (deficit) | -$3.8M | $10.7M | ||
| Non-controlling interest | $125.2K | $123.5K | ||
| TOTAL EQUITY (DEFICIT) | -$3.6M | $10.8M | $12.9M | $12.3M |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | $34.5M | $24.7M | ||
| Ordinary shares, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Ordinary shares, shares authorized (in Shares) | 62.5M shares | 62.5M shares | ||
| Ordinary shares, shares issued (in Shares) | 8.6M shares | 3.2M shares | ||
| Ordinary shares, shares outstanding (in Shares) | 8.6M shares | 3.2M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $8.9M | $8.2M | $10.8M | |
| Restricted cash | $2.2M | $2.2M | ||
| Accounts receivable, net | $9.5M | $12.8M | ||
| Contract assets, net | $465.7K | $1.1M | ||
| Loan receivable, net | $2.0M | |||
| Marketable equity securities | $5.0M | |||
| Prepayments and other current assets, net | $256.5K | $67.8K | ||
| Total current assets | $30.1M | $24.4M | ||
| Property, plant and equipment, net | $4.3M | $127.4K | ||
| Right-of-use assets | $94.6K | $130.1K | ||
| Total non-current assets | $4.4M | $257.5K | ||
| TOTAL ASSETS | $34.5M | $24.7M | ||
| Accounts payable | $10.3M | $11.3M | ||
| Contract liabilities | $25 | $1.5K | ||
| Other payables and accrued liabilities | $502.4K | $445.3K | ||
| Provisions for compensation and penalty | $1.6M | |||
| Tax payables | $17.5K | |||
| Lease liabilities current | $56.3K | $101.9K | ||
| Borrowings | $4.7M | |||
| Warrant liabilities | $22.4M | |||
| Dividend payables | $54.8K | $54.8K | ||
| Total current liabilities | $38.1M | $13.8M | ||
| Lease liabilities non-current | $39.2K | $29.4K | ||
| Total non-current liability | $39.2K | $29.4K | ||
| TOTAL LIABILITIES | $38.2M | $13.9M | ||
| Ordinary shares, par value $0.0008 per share, 62,500,000 shares authorized including 50,000,000 Ordinary Shares and 12,500,000 Undesignated Shares; 3,247,117 and 8,623,102 issued and outstanding as of December 31, 2024 and 2025, respectively* | $6.9K | $2.6K | ||
| Additional paid-in capital | $11.4M | $10.6M | ||
| Retained earnings (Accumulated deficit) | -$15.1M | $133.3K | ||
| Accumulated other comprehensive loss | -$41.4K | -$41.4K | ||
| Total shareholders equity (deficit) | -$3.8M | $10.7M | ||
| Non-controlling interest | $125.2K | $123.5K | ||
| TOTAL EQUITY (DEFICIT) | -$3.6M | $10.8M | $12.9M | $12.3M |
| TOTAL LIABILITIES AND SHAREHOLDERS EQUITY | $34.5M | $24.7M | ||
| Ordinary shares, par value (in Dollars per share) | $0.00 | $0.00 | ||
| Ordinary shares, shares authorized (in Shares) | 62.5M shares | 62.5M shares | ||
| Ordinary shares, shares issued (in Shares) | 8.6M shares | 3.2M shares | ||
| Ordinary shares, shares outstanding (in Shares) | 8.6M shares | 3.2M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income (loss) | -$15.2M | -$4.8M | $4.6M |
| Depreciation of property, plant and equipment | $52.1K | $57.5K | $164.4K |
| Depreciation of right-of-use assets | $110.9K | $97.8K | $105.3K |
| Unrealized gains of marketable equity securities | -$2.3K | ||
| Loss on Private Placement | $6.1M | ||
| Issuance costs related to Private Placement | $1.0M | ||
| Change in fair value of warrant liabilities | $6.7M | ||
| Provisions for (Reversal of) compensation and penalty | -$1.5M | $1.2M | |
| Share-based compensation expenses | $771.9K | $5.6M | |
| Provision for (Reversal of) expected credit losses, net | -$5.2K | -$85.2K | $56.6K |
| Accounts receivable | $3.4M | $7.4M | -$9.1M |
| Accounts receivable related parties | -$766.7K | -$100.3K | $8.1K |
| Contract assets | $593.7K | -$73.5K | -$26.8K |
| Amounts due from related parties | -$939.4K | $118.3K | $766.1K |
| Other current assets | -$198.6K | $23.8K | $106.9K |
| Tax recoverable | $2.0M | ||
| Accounts payable | -$1.0M | -$6.9M | $6.8M |
| Accounts payable related parties | -$188.3K | -$253.1K | -$54.9K |
| Amounts due to related parties | -$40.7K | -$362.2K | -$88.0K |
| Tax payables | -$17.5K | -$719.7K | $737.2K |
| Provision for compensation | -$115.4K | ||
| Other payables and accrued liabilities | $57.1K | -$1.8M | $85.1K |
| Contract liabilities | -$1.5K | -$2.5K | -$2.5K |
| Lease liabilities | -$111.2K | -$102.3K | -$114.6K |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | -$1.3M | -$1.8M | $7.3M |
| Purchases of property, plant and equipment | -$4.2M | -$1.5K | |
| Decrease in restricted cash with maturity of more than three months when acquired | $718.8K | $2.2M | |
| Purchase of marketable equity securities | -$5.0M | ||
| Loan granted | -$2.0M | ||
| NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITES | -$11.2M | $718.8K | $2.2M |
| Dividends paid | -$4.0M | ||
| Proceeds from Private Placement | $9.6M | ||
| Payments of issuance costs | -$1.0M | -$1.5M | |
| Proceeds from exercise of stock options | $3.5K | $16.9K | |
| Expiry of unpresented check for dividend paid to shareholders in prior years | $26.7K | ||
| Proceeds from bank borrowings | $2.8M | ||
| Proceeds from other borrowings | $2.0M | ||
| Payments of bank loan interest | -$22.0K | -$130.9K | |
| NET CASH (USED IN) PROVIDED BY FINANCING ACTIVITES | $13.3M | -$1.5M | -$4.1M |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | $783.6K | -$2.6M | $5.5M |
| Interest received | $50.6K | $66.1K | $79.2K |
| Interest paid | -$26.4K | -$1.3K | |
| Income tax refunded | $66.6K | $1.4M | |
| Income tax paid | -$85.8K | -$361.0K | |
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | $75.3K | $168.7K | |
| Deemed distribution to AIBs shareholders in reverse recapitalization | $6.4M | ||
| Issuance of ordinary shares of the Company for services provided | $5.0M |
No quarter-by-quarter statement was filed.
Corporate structure
PS International Group Ltd. 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 PS International Group Ltd.
- Chuanbiao Liao Filed SCHEDULE 13G on PS International Group Ltd., latest Apr 15, 2026
- Jing L. Liu Filed SCHEDULE 13G on PS International Group Ltd., latest Apr 9, 2026
- Lijun Lu Filed SCHEDULE 13G on PS International Group Ltd., latest Apr 8, 2026
- Quanyong Hou Filed SCHEDULE 13G on PS International Group Ltd., latest Apr 8, 2026
- Xiaoqing Zhu Filed SCHEDULE 13G on PS International Group Ltd., latest Apr 8, 2026
- Yudian Liu Filed SCHEDULE 13G on PS International Group Ltd., latest Apr 8, 2026
- Yee Kit Chan Filed SCHEDULE 13D/A on PS International Group Ltd., latest Sep 4, 2025 (2 filings since Jul 25, 2024)
- Kin Yin Alfred Kwong Filed SC 13D/A on PS International Group Ltd., latest Aug 30, 2024 (2 filings since Jul 25, 2024)
- PS International Group Ltd. E9
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What PS International Group Ltd. 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
| Item | Latest | A year before | Change |
|---|---|---|---|
| Buildings and improvements | $4.2M4 Dec 31, 2025 | ||
| Property and equipment, before depreciation | $5.3M4 Dec 31, 2025 | $1.0M4 Dec 31, 2024 | +408.4% |
| Accumulated depreciation | $964.3K4 Dec 31, 2025 | $912.2K4 Dec 31, 2024 | +5.7% |
| Property and equipment, net | $4.3M4 Dec 31, 2025 | $127.4K4 Dec 31, 2024 | +3291.8% |
| Operating-lease assets (leased space) | $94.6K4 Dec 31, 2025 | $130.1K4 Dec 31, 2024 | −27.3% |
Investments
Leadership
Who has led PS International Group Ltd., and when. Pick a name to see everywhere that person has worked.
Chief executive
- Chief executive officerChunlin Tong Apr 14, 2026 to now6
Board members and other officers (5)
- Board memberYee Kit Chan Mar 18, 2026 to now7
- Board memberChunlin Tong Apr 14, 2026 to now6
- Board memberKim Fung Keith Ching Apr 15, 2026 to now8
- Board memberHo Pan Darren K. Kwok Apr 20, 2026 to now9
- Board memberSheung Yuk Clara Chiu Apr 20, 2026 to now10
Timeline
- Apr 14, 2026New chief executive Chunlin Tong becomes CEO6
Filings
70 filings to the SEC since October 2021: 3 annual reports, 6 insider forms, 10 large holders, 51 other. The latest 20:
- Aug 19, 2026EFFECT EDGAR
- Aug 19, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 14, 20266-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
- Aug 14, 2026CORRESP EDGAR
- Aug 11, 2026UPLOAD EDGAR
- Aug 4, 2026F-3 REGISTRATION STATEMENT EDGAR
- Jul 22, 20266-K CURRENT REPORT EDGAR
- Apr 30, 202620-F ANNUAL REPORT EDGAR
- Apr 20, 20263 EDGAR
- Apr 20, 20263 EDGAR
- Apr 15, 20263 EDGAR
- Apr 15, 2026SCHEDULE 13G EDGAR
- Apr 14, 20263 EDGAR
- Apr 13, 20263 EDGAR
- Apr 9, 2026SCHEDULE 13G EDGAR
- Apr 8, 2026SCHEDULE 13G EDGAR
- Apr 8, 2026SCHEDULE 13G EDGAR
- Apr 8, 2026SCHEDULE 13G EDGAR
- Apr 8, 2026SCHEDULE 13G EDGAR
- Mar 18, 20263 EDGAR
The 70 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.
- Chuanbiao LiaoSCHEDULE 13G, 1 filing Apr 15, 202611
- Jing L. LiuSCHEDULE 13G, 1 filing Apr 9, 202612
- Lijun LuSCHEDULE 13G, 1 filing Apr 8, 202613
- Quanyong HouSCHEDULE 13G, 1 filing Apr 8, 202614
- Xiaoqing ZhuSCHEDULE 13G, 1 filing Apr 8, 202615
- Yudian LiuSCHEDULE 13G, 1 filing Apr 8, 202616
- Yee Kit ChanSCHEDULE 13D/A, 2 filings Jul 25, 2024 to Sep 4, 202517
- Kin Yin Alfred KwongSC 13D/A, 2 filings Jul 25, 2024 to Aug 30, 202418
SEC filer profile
How PS International Group Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARPS International Group Ltd.1
- CIK0001997201
- Filer statusNon-accelerated filer an emerging growth company; not a shell company3
- Incorporated inCayman Islands3
- Fiscal year endsDecember 311
- Industry code (SIC)4731 Arrangement of Transportation of Freight & Cargo1
- SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
- Business addressUn. 1002, 10/F, Join-In Hang Sing Ctr.,, #2-16 Kwai Fung Crescent, Kwai Chung, Nt, Hong Kong, China1
- Phone852361068281
- Shares outstanding15,376,572 shares as of Apr 30, 20263
- AuditorWWC, P.C., San Mateo, California PCAOB ID 1171; no auditor attestation of internal control over financial reporting3
- On EDGAR sinceJan 4, 20241
- Filings70 in all: 6-K (18), 3 (6), SCHEDULE 13G (6), CORRESP (5), UPLOAD (5), 20-F (3), 425 (3), DRSLTR (3)1
All 24 form types
EFFECT (3), DRS (2), DRS/A (2), SC 13D (2), 144 (1), 424B3 (1), 8-A12B (1), CERT (1), F-1 (1), F-1/A (1), F-3 (1), F-4 (1), F-4/A (1), S-8 (1), SC 13D/A (1), SCHEDULE 13D/A (1)
- Latest filingsAnnual report (20-F) Apr 30, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Ordinary shares, par value $0.0008 per share | PSIG | The Nasdaq Stock Market LLC |
From the cover page of the 20-F filed Apr 30, 2026 (Section 12(b) of the Exchange Act).3
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7SEC EDGARYee Kit Chan, Board member
- 8SEC EDGARKim Fung Keith Ching, Board member
- 9SEC EDGARHo Pan Darren K. Kwok, Board member
- 10SEC EDGARSheung Yuk Clara Chiu, Board member
- 11
- 12
- 13
- 14
- 15
- 16
- 17
- 18