Acquisition and Expansion - The company acquired RQS United Group Limited on March 3, 2023, enhancing its logistics capabilities[282]. Revenue and Profitability - For the year ended July 31, 2024, total revenues surged to 8,617,265,a1,805452,409 in 2023, primarily driven by global logistics services[292][293]. - Global logistics service revenue accounted for 97% of total revenue in 2024, amounting to 8,320,402[293].−GrossprofitfortheyearendedJuly31,2024,was1,055,179, compared to a gross loss of 4,085in2023,resultinginagrossmarginof12.24110,320, a turnaround from a net loss of 356,089in2023,with54,450 attributable to the shareholders[300]. Costs and Expenses - The cost of revenues increased to 7,562,086in2024,reflectingthegrowthingloballogisticsservices,with98886,876 in 2024 from 339,909in2023,mainlyduetoincreasedcommissionsandprofessionalfees[298].CashFlowandWorkingCapital−AsofJuly31,2024,thecompanyhadworkingcapitalof788,354, with cash amounting to 413,129[301].−Netcashprovidedbyoperatingactivitieswas112,740 for the year ended July 31, 2024, primarily due to net income[306]. - Net cash used in financing activities for the year ended July 31, 2023, was 89,476,primarilyduetorepaymentofaworkingcapitaladvanceof341,885[310]. - Cash inflows included 31,490inworkingcapitaladvancesfromrelatedpartiesandacapitalcontributionof65,650[310]. - Operating expenses paid directly by shareholders amounted to 84,503,withadditionalrentpaymentsof16,580 made by related parties[310]. Accounting and Management Insights - The company did not identify any accounting estimates subject to a high degree of uncertainty for the year ended July 31, 2024[312]. - Management believes that recently issued accounting standards will not have a material effect on the company's consolidated balance sheets[313]. Future Outlook - The company anticipates the need for additional capital expenditures to capture more market share in the logistics sector[303].
