Business Overview
Tianci International is a holding company with one operating subsidiary, Roshing International Co., Limited, which provides global logistics services including ocean freight forwarding and related logistics solutions. Since fiscal year 2026, Roshing has diversified its revenue streams by initiating a mineral ore trading business line, with 33.3% of nine-month revenue derived from non-logistics business lines including electronic device hardware components, logistics software development, technical consulting, and chrome ore sales.
Segment Performance
Global logistics services revenue increased 19.1% to $2.3 million in Q3 2026 versus $1.9 million in Q3 2025, and grew 19.1% to $8.0 million for nine months 2026 versus $6.7 million in nine months 2025. The new mineral ore sales business contributed $1.4 million in Q3 2026. Other revenue (electronic components, software, consulting) totaled $620,606 in Q3 2026 and $755,000 for nine months 2026. Gross profit improved to $697,489 in Q3 2026 versus $57,983 in Q3 2025. However, the company reported a nine-month net loss of $594,453 versus $1.2 million loss in prior year, with reduced operating expenses contributing to the improvement.
Key Risk Factors
The company faces significant operational cash flow challenges, with net cash used in operating activities of $1.7 million for the nine months ended April 30, 2026, driven by increases in accounts receivable and prepayments. Foreign currency exposure exists as the company conducts business primarily in Hong Kong while reporting in U.S. dollars. The company's ability to sustain operations depends on continued access to financing, as evidenced by a $5.4 million public offering during the period. Additionally, the company operates in the competitive global logistics and commodity trading sectors with exposure to fluctuating mineral prices and freight rates.
