Welcome to our dedicated page for PS International news (Ticker: PSIG), a resource for investors and traders seeking the latest updates and insights on PS International stock.
PS International Group Ltd. (NASDAQ: PSIG) is a global logistics and supply chain service provider specializing in cross-border air freight forwarding services from Asian transportation hubs to the United States and other international destinations. The company, which conducts its operations through subsidiaries headquartered in Hong Kong, focuses on air and ocean export and import freight forwarding services and related ancillary logistics activities.
This news page aggregates company-specific coverage of PS International Group, giving readers a single place to review its disclosed developments. News items typically include announcements of unaudited financial results, where the company provides detailed breakdowns of revenue by service type, destination, and customer type, along with discussions of cost of revenue, gross profit, and cash flows. These reports offer insight into how air freight, ocean freight, and ancillary logistics services contribute to the company’s performance.
Investors and observers can also find regulatory and capital markets updates, such as notices from the Nasdaq Stock Market regarding bid price compliance, information on reverse stock splits approved by shareholders and the board, and disclosures about private placements of ordinary shares and warrants. In addition, the company’s Form 6-K reports cover changes in board composition, executive management appointments and resignations, adoption of corporate governance policies, and share transfers by significant shareholders.
By following PSIG news, readers can monitor how the company manages its listing status, adjusts its capital structure, and reports on its freight forwarding operations and financial condition. This page serves as a convenient entry point for tracking official press releases and SEC-reported events related to PS International Group’s role in the integrated freight and logistics industry.
PS International Group (NASDAQ: PSIG) reported its unaudited financial results for H1 2024. The company experienced significant declines across key metrics compared to H1 2023:
- Revenue decreased 41.3% to $39.4 million
- Gross profit fell 84.2% to $1.2 million
- Net loss of $0.4 million compared to prior year's profit of $4.4 million
The company's core business remains air freight forwarding, accounting for 98.2% of total revenue. Export shipments, particularly to the United States (70.5% of export revenue), continue to be the primary revenue source. Freight forwarders represent 99.5% of the customer base. The business combination with AIB Acquisition was completed on July 18, 2024, marking PSIG's listing on Nasdaq.
PS International Group (NASDAQ: PSIG) received a notification from Nasdaq on October 30, 2024, indicating non-compliance with the minimum bid price requirement. The company's shares traded below $1.00 for 30 consecutive business days. PSIG has until April 28, 2025 to regain compliance by maintaining a closing bid price of $1.00 or higher for at least 10 consecutive business days. The notice has no immediate impact on PSIG's business operations or stock listing, which continues trading under 'PSIG'. If compliance isn't achieved by the deadline, the company may be eligible for additional time if it meets other Nasdaq Capital Market listing requirements.
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