PS International Stock Price, News & Analysis

PS International Group Ltd. (NASDAQ: PSIG) is a global logistics and supply chain service provider in the industrials sector, operating in the integrated freight and logistics industry. According to company disclosures, PS International Group specializes in cross-border air freight forwarding services, connecting businesses from Asian transportation hubs to the United States and other international destinations. The company conducts its operating activities primarily through subsidiaries headquartered in Hong Kong, including Profit Sail Int’l Express (H.K.) Limited and Business Great Global Supply Chain Limited, which derive revenue from air and ocean freight forwarding services and supply chain ancillary services.

PS International Group traces its origins to 1993, when it began providing logistics services that have since expanded to cover over 140 countries, based on the company’s description in its public communications. The group is described as a long-established logistics provider with a focus on making cross-border trade easier through integrated supply chain solutions. Its ordinary shares trade on the Nasdaq Capital Market under the symbol PSIG, and the company is incorporated as an exempted company with limited liability under the laws of the Cayman Islands, as reflected in its SEC filings.

Core business and services

The company’s primary business is the provision of air and ocean export and import freight forwarding services. As detailed in its financial disclosures for the six months ended June 30, 2023 and 2024, PS International Group generates revenue mainly from arranging freight forwarding services and related logistics activities. Its services include arranging consignments upon receipt of booking instructions from customers, cargo pick up, obtaining cargo space, preparation of freight documentation, arranging customs clearance, and cargo handling at origin and destination. These activities are complemented by ancillary logistics services that support freight forwarding operations.

Ancillary logistics services described by the company encompass cargo pickup, cargo handling at ports, local transportation, and warehousing-related services. The warehousing-related offerings include repackaging, labeling, palletization, preparation of shipping documentation, arrangement of customs clearance, and warehousing. The company’s disclosures indicate that air freight forwarding is the principal contributor to revenue, with air freight services accounting for the vast majority of freight forwarding revenue in the periods presented.

Customer base and shipment focus

According to the company’s reported breakdown of revenue by customer type, PS International Group focuses on providing freight forwarding services primarily to freight forwarders, with a smaller portion of revenue derived from direct customers. The company also reports that its revenue from freight forwarding services is mainly derived from export shipments, with export air and ocean freight accounting for nearly all freight forwarding revenue in the periods disclosed.

Within export freight forwarding, the company has reported that a substantial portion of export revenue is associated with shipments destined for the United States, with additional export destinations including Canada, France, the United Kingdom, the Netherlands, Singapore, and other countries such as Luxembourg, Spain, Mexico, and Belgium. This export orientation reflects the company’s stated role in connecting Asian transportation hubs to the US and other global markets.

Cost structure and operations

PS International Group’s cost of revenue, as outlined in its financial statements for the six months ended June 30, 2023 and 2024, is mainly composed of air and ocean freight charges and logistics and warehousing fees. Air and ocean freight charges represent the costs of cargo space charged by airlines, shipping liners, or other freight forwarders. Air freight charges form the major component of cost of revenue in the reported periods.

Logistics and warehousing fees primarily represent costs and service fees incurred for warehousing services such as x-ray screening, storage, palletizing, and consolidation performed in the company’s warehouse, as well as costs of local trucking and transportation services. The company notes that logistics and warehousing fees represent a significant portion of cost of revenue and that changes in these costs are influenced by transportation and pre-loading preparation for aircraft.

Depreciation of property, plant and equipment related to the warehouse, including x-ray screening equipment and forklifts, is also included in cost of revenue. The company explains that its gross profit and gross margin are mainly affected by the spread between the freight charge per kilogram payable by customers and the freight charges payable to suppliers that it is able to secure.

Geographic footprint and corporate structure

PS International Group is headquartered in Hong Kong, with principal executive offices located in the New Territories area of Hong Kong, as disclosed in multiple Form 6-K filings. The company conducts its logistics and freight forwarding business via Hong Kong-based operational subsidiaries. Its corporate domicile is the Cayman Islands, where it is incorporated as an exempted company with limited liability, a structure commonly used by foreign private issuers listed in the United States.

The company describes itself as a global logistics and supply chain solution provider, with services covering more than 140 countries. It emphasizes cross-border air freight forwarding from Asian transportation hubs to the United States and other regions, and has indicated plans, in its public communications, to expand its network and enhance cross-border capacities in the United States, the Middle East, and Southeast Asia through local cooperations and strategic partnerships. It has also stated that it continues to invest in its smart logistics system, with the aim of being a technology-driven logistics service provider in the global e-commerce market.

Capital markets and corporate governance

PS International Group’s ordinary shares are listed on the Nasdaq Capital Market under the ticker symbol PSIG. In a Nasdaq notification disclosed in November 2024, the company reported receiving a notice regarding non-compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2), after its closing bid price remained below US$1.00 per share for 30 consecutive business days. The notice provided a period for the company to regain compliance, and the company stated that the notice had no immediate effect on its business operations or the listing of its ordinary shares, which continued to trade on Nasdaq under the symbol PSIG.

In subsequent Form 6-K filings, PS International Group reported that its shareholders and board approved a reverse stock split (share consolidation) at a ratio of one new share for every eight issued and outstanding ordinary shares, with trading on a split-adjusted basis on the Nasdaq Capital Market expected to begin on a specified effective date. The company indicated that the reverse stock split would increase the par value per share of its ordinary shares but would not change the total number of authorized ordinary shares, and that shareholders’ percentage ownership and proportional voting power would remain unchanged except for adjustments resulting from fractional shares.

The company has also reported corporate governance developments, including the appointment of new independent directors to its board and the adoption of updated corporate governance policies and committee charters. These documents include an Audit Committee Charter, Compensation Committee Charter, Nominating and Corporate Governance Committee Charter, Insider Trading Policy, and Code of Business Conduct and Ethics, reflecting the company’s governance framework as a foreign private issuer with securities registered under the Securities Exchange Act of 1934.

Financing activities and private offerings

PS International Group has disclosed capital-raising activities through private placements. In November 2025, the company reported entering into a securities purchase agreement with certain purchasers for a private placement of units consisting of ordinary shares (or pre-funded warrants in lieu thereof) and warrants to purchase additional ordinary shares. The company stated that the securities were offered in a transaction exempt from the registration requirements of the U.S. Securities Act of 1933 and that it agreed to file a registration statement with the U.S. Securities and Exchange Commission to register the resale of the securities.

The company further reported the closing of this private offering, issuing ordinary shares and warrants for aggregate gross proceeds of approximately US$9.6 million before fees and expenses, and noted that it had engaged a placement agent to act on a reasonable best efforts basis. In connection with the offering, the company and certain officers, directors, and significant shareholders entered into lock-up agreements that generally restrict the sale or transfer of the company’s securities for a specified period following the closing.

Financial reporting and performance context

As a foreign private issuer, PS International Group files Form 20-F annual reports and Form 6-K current reports with the SEC. In its press release and unaudited financial information for the six months ended June 30, 2023 and 2024, the company provided detailed breakdowns of revenue by service type, destination, and customer type, as well as cost of revenue by service type and nature. These disclosures highlight the company’s reliance on air freight forwarding services, export shipments, and freight forwarder customers.

The company’s financial discussion explains how operating cash flows are primarily driven by receipts from freight forwarding services and payments for freight charges, ancillary service fees, salaries, employee benefits, and general and administrative expenses. It also outlines how investing cash flows are associated with activities such as purchase and disposal of property, plant and equipment and equity securities, and how financing cash flows relate to bank loans, dividends, and other financing arrangements. These details provide investors with insight into the operational and financial characteristics of an integrated freight and logistics business focused on air and ocean freight forwarding.

Management and ownership developments

PS International Group’s Form 6-K filings describe changes in its board of directors and executive management. The company has reported the appointment of new independent directors, the reconstitution of board committees, and changes in key executive positions such as the Chief Executive Officer, Chief Financial Officer, and Chief Operating Officer. It has also disclosed a definitive share purchase agreement under which certain selling shareholders agreed to transfer a substantial number of ordinary shares to a purchaser incorporated in the British Virgin Islands, with the company noting that it was not a party to the agreement and did not receive proceeds from the transaction.

These governance and ownership disclosures, together with the company’s operational and financial information, form part of the public record available to investors researching PS International Group Ltd. (PSIG) stock, its logistics business model, and its role in the integrated freight and logistics sector.