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A diversified online retailer, akin to a multi-platform
Shein or Temu.
A massive third-party seller on
Amazon or eBay, but with their own global storefronts.

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Tianci International (symbol: CIIT) primarily sells its products and services to other companies (B2B).

Based on the company's public filings (e.g., SEC Form 10-K), Tianci International Inc. (CIIT) is engaged in the manufacturing, sales, and export of electronic and mechanical parts and components. The company explicitly states that it has a diverse customer base and does not depend on any single customer. Specifically, no individual customer accounts for 10% or more of its revenues.

Therefore, it is not possible to identify specific "major customers" by name with their symbols from publicly available information. The company serves a broad range of manufacturers who require electronic and mechanical parts and components for their production processes, operating both in China and internationally.

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• No major suppliers can be reliably identified from publicly available information for Tianci International (CIIT).

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Shufang Gao, Chief Executive Officer, President and Chairman

Shufang Gao was appointed Chief Executive Officer in January 2023, and also serves as President and Chairman. He previously held the position of Chief Financial Officer for the company. Mr. Gao possesses over 20 years of management experience within the global logistics industry, having worked for a globally renowned shipping conglomerate. His expertise includes shipping operation management and logistics transportation, which has been instrumental in expanding Tianci International's global logistics business and accessing relevant customer and supplier resources. He is a citizen of the People's Republic of China, and his personal holding company, RQS Capital Limited, holds a significant stake in Tianci International's common stock.

Wei Fang, Chief Financial and Accounting Officer and Director

Wei Fang was appointed Chief Financial Officer on January 23, 2024, and also serves as a Director. He is currently a Director at MED EIBY Holding Co., Ltd., a position he has held since 2022. His prior experience includes serving as Chief Executive Officer & Partner at Tiger Technology Corp. Ltd. from 2018 to 2019, and as Chief Executive Officer at Haotian International Securities from 2017 to 2018. Mr. Fang earned his Master's in Business Administration in 2004 from Georgia Southern University and his undergraduate degree in 1994 from Anhui University of Finance & Economics.

Ying Deng, Vice President and Director

Ying Deng holds the titles of Vice President and Director. She was a registered shareholder of Roshing International Co., Limited, Tianci International's operating subsidiary, when it was incorporated in 2011. She also previously owned a 30% stake in RQS Capital, which is Shufang Gao's personal holding company.

Bo Ye, Corporate Secretary

Bo Ye serves as the Corporate Secretary for Tianci International. At one point, he held a 10% ownership in RQS Capital, Shufang Gao's personal holding company.

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The key risks to Tianci International's business are as follows:

1. High Customer and Vendor Concentration: Tianci International faces substantial risk due to its heavy reliance on a limited number of customers and vendors. In fiscal year 2025, the top two customers accounted for 69% of total revenue, and one vendor represented 69% of purchases. More recently, for the quarter ended October 31, 2025, two customers generated 45% and 14% of the revenue, while two vendors were responsible for 48% and 16% of purchases. This concentration exposes the company to significant vulnerability if relationships with these key partners are disrupted or terminated.
2. Declining Gross Margins and Increasing Operating Costs Leading to Net Losses: The company has experienced a notable decline in profitability. Its gross profit decreased by 57% to $450,123 in FY2025, with the overall gross margin dropping from 12.24% to 4.85%. Concurrently, general and administrative expenses surged by 462% to $2,927,260 in FY2025, resulting in a net loss of $(2,640,789) compared to a net income in the prior year. The gross margin for global logistics services specifically fell to 4.17% in the quarter ended October 31, 2025, from 6.12% in the same period of the prior year, despite revenue growth. This trend indicates fundamental challenges in managing costs and maintaining profitability.
3. Exposure to Geopolitical, Macroeconomic, and Regulatory Risks in Hong Kong/China: Tianci International's operations are primarily conducted through its subsidiary Roshing, based in Hong Kong, and its business largely serves customers in international commerce. The company is therefore subject to significant geopolitical, macroeconomic, and regulatory risks, particularly stemming from the Hong Kong/China nexus and potential influence from the People's Republic of China. Adverse economic, political, or regulatory conditions in Hong Kong, as well as changes in the international trade environment, could materially and adversely affect its business, financial condition, results of operations, and prospects.

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Tianci International (symbol: CIIT) operates in several key markets primarily within the Asia-Pacific region. Its main products and services include logistics, specifically ocean freight forwarding, distribution of electronic device hardware components, and software technical services for logistics. The company also provides business consulting services for immigration and non-immigration visa applications, and is exploring blockchain and cryptocurrency-related services for its logistics operations.

Currently, the addressable market sizes for Tianci International's main products or services are unavailable with specific regional breakdowns for their operations (Hong Kong, Vietnam, Japan, and Singapore). No detailed market size data for these specific segments and regions was found in the provided information.

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Tianci International (CIIT), a global logistics service provider primarily focused on ocean freight forwarding, is expected to drive future revenue growth through several strategic initiatives over the next 2-3 years.

Here are 3 expected drivers of future revenue growth:

1. Strategic Shift to Long-Distance Shipping Lines: To counteract the effects of waning demand in the Southeast Asian market, Tianci International plans to pivot its focus towards long-distance shipping lines. This strategic reorientation is anticipated to bolster revenue growth by targeting segments that typically yield higher profit margins.
2. Expansion in the Logistics Services Market: The company intends to allocate a significant portion of the working capital obtained from its recent public offering to broaden its footprint within the overarching logistics services market. This expansion aims to enhance its market presence and potentially increase its share in the global logistics industry.
3. Growth and Development of Software and Consulting Services: Beyond its core freight forwarding operations, Tianci International also engages in developing customized freight shipping and related logistics software, offers software technical consulting and training, and provides business consulting services for immigration and non-immigration visa applications. While these currently represent a smaller segment of its revenue, focused development and growth in these specialized service offerings could contribute to future revenue diversification and overall growth.

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Share Issuance

• Tianci International completed a public offering around April 11, 2025, issuing 1,750,000 shares of common stock at $4.00 per share, generating gross proceeds of $7 million.
• The net proceeds from this public offering amounted to $5,217,937.
• The underwriter for the offering was granted a 45-day option to purchase up to an additional 262,500 shares, which could increase the total gross proceeds to approximately $8.05 million.
• On January 19, 2024, Tianci issued 8,000,000 shares of common stock to RQS Capital as a result of the conversion of Series A Preferred Stock.

Outbound Investments

• On October 14, 2025, Tianci International (CIIT) entered into a Memorandum of Understanding (MOU) with BTC Digital (BTCT) to explore strategic cooperation in blockchain and crypto-related services.
• The MOU includes an intended purchase of cryptocurrency mining machines valued at approximately $5 million, with BTC Digital providing hosting, operations, and maintenance.
• The cooperation also involves jointly exploring stablecoin payment use cases and the tokenization of real-world assets.

Capital Expenditures

• Proceeds from the April 2025 public offering are designated for logistics promotion and marketing, general corporate purposes, working capital, and recruitment of talented personnel.
• The company intends to utilize the majority of its working capital, which totaled $2,906,601 at July 31, 2025, to expand its market presence in logistics services.
• Tianci International plans to reorient its focus towards long-distance shipping lines and is accumulating inventory of bulk chrome and manganese ore to enter the global commodity trade arena.