Tianci International Q2 Revenue Up 87%, G&A Rises to $3.79M, Net Loss $417K
Tianci International’s Q2 revenue rose 87% on a 22% logistics increase and $1.32 million from initial ore sales, yet net loss widened to $417,124 as G&A spiked to $3.79 million. Logistics gross margin fell to 3.5%, prompting a shift to long-haul shipping and ore trading.
1. Q2 Financial Results
For the quarter ended January 31, 2026, Tianci International reported an 87% increase in total revenue driven by a 22% rise in logistics revenue and $1.32 million from its inaugural mineral ore sales. Net loss expanded to $417,124 as general and administrative expenses surged to $3.79 million, a 90% year-over-year jump.
2. Logistics and Margins
Logistics operations accounted for 65% of total revenue and saw a 22% revenue increase, but cost of revenue climbed 26%, causing the segment’s gross margin to slip from 3.6% to 3.5% quarter-over-quarter and from 5.0% to 2.5% year-to-date.
3. Mineral Ore Segment
During the six months ended January 31, 2026, Tianci generated $1.82 million from bulk chrome and manganese ore sales with a 12.0% gross margin. The entry leverages the company’s supply chain integration and vessel optimization to diversify revenue beyond local shipping demand.
4. Liquidity and Strategy
Cash balance declined by $1.68 million to $723,101, and working capital dipped to $2.51 million due to higher accounts receivable. Management plans to refocus on long-haul shipping lanes and expand bulk commodity trading to enhance margins and reduce dependency on regional freight demand.