6-K
Eastern International Ltd. (ELOG)
UNITEDSTATES
SECURITIESAND EXCHANGE COMMISSION
WASHINGTON,D.C. 20549
FORM6-K
REPORTOF FOREIGN PRIVATE ISSUER
PURSUANTTO RULE 13a-16 OR 15d-16 OF THE
SECURITIESEXCHANGE ACT OF 1934
For the month of December 2025
Commission File Number 001-42817
easterninternational Ltd.
(Translation of registrant’s name into English)
Suite901-903, 9th Floor, Building #2, Qianwan Zhigu
ChuanhuaSmart Center Science and Technology City Block
XiaoshanEconomic and Technological Development Zone
XiaoshanDistrict, Hangzhou, Zhejiang Province, China 311231
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F ☒ Form 40-F ☐
INFORMATIONCONTAINED IN THIS FORM 6-K REPORT
FinancialResults For the Six Months Ended September 30, 2025
Eastern International Ltd. (the “Company”, “us”, “our”, or “we”) announced its unaudited financial results for the six months ended September 30, 2025.
Revenues
Our revenues for the six months ended September 30, 2025 were approximately $27.2 million, representing an increase of 27.8% from approximately $21.3 million for the same period of 2024. This increase was primarily contributed by the growth in transportation services, while partially offset by the decrease in warehouse subleasing services.
| For the Six Months Ended<br> <br>September 30, | |||||||
|---|---|---|---|---|---|---|---|
| 2025 | 2024 | %Change | |||||
| Revenues from | |||||||
| transportation services | $ | 25,432,644 | $ | 19,006,582 | 33.8 | % | |
| warehouse subleasing services | 1,760,104 | 2,265,548 | (22.3 | )% | |||
| Total Revenues | $ | 27,192,748 | $ | 21,272,130 | 27.8 | % | |
| ● | Transportation<br> services - our revenues from transportation services increased by approximately $6.4 million<br> or 33.8%, which was primarily contributed by the growth in revenues from project logistics.<br> We have completed 2,487 orders for project logistics during the six months ended September<br> 30, 2025, comparing to 1,333 orders for the same period of 2024, as our major customers<br> increased their orders for project logistics. | ||||||
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| ● | Warehouse<br> subleasing services – our revenues from warehouse subleasing services decreased by<br> approximately $0.5 million or 22.3%, primarily because a tenant did not renew the lease when<br> it expired. | ||||||
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Costof revenues
Our cost of revenues for the six months ended September 30, 2025 was approximately $24.2 million, representing a 32.5% increase from approximately $18.2 million for the same period of 2024. The increase primarily stemmed from higher costs for project logistics, attributable to the completion of more project logistics orders, as discussed above.
Grossprofit
Our gross profit for the six months ended September 30, 2025 was $3,018,094, representing a slight decrease of 0.3% from $3,026,330 for the same period of 2024, which is due to the growth in our revenues was offset by the drop in our profit margin. In order to retain our major customers under the increasingly competitive environment, we offered more favorable pricing for their project logistics orders as compared to the same period of 2024, while our average costs for fullfilling these orders remained stable. As a result, the profit margin of our project logistics declined, thereby lowering the overall profit margin of the Company.
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Sellingexpenses
Our selling expenses were $463,357 for the six months ended September 30, 2025, which increased by 31.9% from $351,266 for the same period of 2024. The increase was primarily attributable to the increase in salaries for the sales team and their travelling expenses. The change was generally in line with the increase in our revenues.
Generaland administrative expenses
Our general and administrative expenses were approximately $1.52 million for the six months ended September 30, 2025, which decreased by 14.7% from approximately $1.79 million for the same period of 2024. The decrease was primarily resulted from the decreases in provisions for expected credit losses, as well as decreased professional service fees, while partially offset by the increase in office lease expenses.
Other(expenses) income, net
Our other expenses, net was $187,734 for the six months ended September 30, 2025, compared to other income, net of $70,086 for the same period of 2024. The change was primarily due to the increase in interest expenses, as our PRC operating subsidiaries increased their bank borrowings for business growth, while partially offset by the decrease in insurance indemnity received, as we incurred less damages during transportations.
Incometax expenses
Income tax expenses were $268,396 and $419,601 for the six months ended September 30, 2025 and 2024, respectively, resulting from a pre-tax income of $843,702 and $959,723 for the six months ended September 30, 2025 and 2024, respectively. The decline in our income tax expenses was primarily driven by a lower effective income tax rate, which fell to 31.8% for the six months ended September 30, 2025 from 43.7% for the same period of 2024. The elevated effective income tax rate in the six months ended September 30, 2024 was largely due to significant non-deductible administrative expenses incurred by our Cayman company during preparations for our initial public offering, while these non-deductible expenses were substantially lower in 2025, resulting in a normalized effective income tax rate.
Netincome
As a result of the foregoing, our net income was $575,306 for the six months ended September 30, 2025, representing an increase of 6.5% from $540,122 for the same period of 2024.
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Earningsper share
The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income divided by the weighted average number of ordinary shares outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. For the six months ended September 30, 2025 and 2024, the dilutive effect of the Company’s Preferred Shares issued and outstanding which are convertible to ordinary shares for each Preferred Share was taken into consideration in calculation of diluted EPS.
Cashand cash equivalents
As of September 30, 2025, we had cash and restricted cash of $5.9 million, including approximately $3.6 million raised from the initial public offering closed in August 2025. As of March 31, 2025, we had cash of $0.8 million.
ExchangeRate
The Company’s financial information is presented in U.S. dollars (“USD”). The functional currency of the Company’s PRC subsidiaries is the Chinese Yuan, Renminbi (“RMB”), the currency of the PRC. Any transactions which are denominated in currencies other than RMB are translated into RMB at the exchange rate quoted by the People’s Bank of China prevailing at the dates of the transactions, and exchange gains and losses are included in the statements of income as foreign currency transaction gain or loss. The consolidated financial statements of the Company have been translated into U.S. dollars in accordance with ASC 830, “Foreign Currency Matters”.
This report contains translations of certain RMB amounts into U.S. dollars (“USD” or “$”) at specified rates solely for the convenience of the reader. The exchange rates in effect as of September 30, 2025 and March 31, 2025 were RMB1 for $0.1405 and $0.1378, respectively. The average exchange rates for the six months ended September 30, 2025 and 2024 were RMB1 for $0.1390 and $0.1388, respectively.
SafeHarbor Statement
This report contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The Company may also make written or oral forward-looking statements in its reports filed with, or furnished to, the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s goals and strategies; the Company’s future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this report. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof unless they are required by the law.
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EASTERNINTERNATIONAL LTD. AND ITS SUBSIDIARIES
UNAUDITEDINTERIM CONDENSED CONSOLIDATED BALANCE SHEETS
(Amountsin U.S. dollars, except for share and per share data, or otherwise noted)
| March 31, 2025 (Audited) | |||||
|---|---|---|---|---|---|
| ASSETS | |||||
| Current Assets | |||||
| Cash | 5,774,150 | $ | 846,409 | ||
| Restricted cash | 161,057 | - | |||
| Notes receivable | 1,149,321 | 1,805,140 | |||
| Accounts receivable, net | |||||
| - third parties | 19,677,679 | 13,679,559 | |||
| - a related party | 592,176 | 641,339 | |||
| Contract assets | 2,182 | 31,709 | |||
| Advances to suppliers | 924,344 | 286,507 | |||
| Amount due from a related party | - | 136,416 | |||
| Other current assets, net | 1,394,282 | 2,253,850 | |||
| Total current assets | 29,675,191 | 19,680,929 | |||
| Non-current assets | |||||
| Property and equipment, net | 423,097 | 461,205 | |||
| Operating lease right of use assets, net | 1,594,261 | 1,795,668 | |||
| Deferred offering costs | - | 881,862 | |||
| Deferred tax assets | 26,966 | 40,949 | |||
| Other non-current assets | 1,853,810 | 1,920,878 | |||
| Total non-current assets | 3,898,134 | 5,100,562 | |||
| Total Assets | 33,573,325 | $ | 24,781,491 | ||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||
| Current Liabilities | |||||
| Bank and other borrowings | 4,171,045 | $ | 3,766,634 | ||
| Accounts payable | 8,430,959 | 4,877,717 | |||
| Notes payable | 280,938 | - | |||
| Contract liabilities | 45,368 | 117,191 | |||
| Amounts due to related parties | 207,635 | 203,695 | |||
| Operating lease liabilities, current | 545,652 | 451,363 | |||
| Income taxes payable | 584,748 | 850,308 | |||
| Dividends payable | 948,664 | 1,072,040 | |||
| Other current liabilities | 1,588,522 | 777,550 | |||
| Total current liabilities | 16,803,531 | 12,116,498 | |||
| Non-current Liability | |||||
| Operating lease liabilities, non-current | 990,820 | 1,198,905 | |||
| Total non-current liability | 990,820 | 1,198,905 | |||
| Total Liabilities | 17,794,351 | 13,315,403 | |||
| Commitments and Contingencies | |||||
| Shareholders’ Equity | |||||
| Preferred shares, par value 0.0001 each, 50,000,000 shares authorized, 1,000,000 issued and outstanding as of September 30, 2025 and March 31, 2025 | 100 | 100 | |||
| Ordinary Shares, par value 0.0001 each, 450,000,000 shares authorized, 12,017,000 and 10,417,000 issued and outstanding as of September 30, 2025 and March 31, 2025, respectively | 1,202 | 1,042 | |||
| Additional paid-in capital | 11,646,440 | 8,040,388 | |||
| Statutory reserves | 974,994 | 888,085 | |||
| Retained earnings | 3,708,205 | 3,219,808 | |||
| Accumulated other comprehensive loss | (551,967 | ) | (683,335 | ) | |
| Total Shareholders’ Equity | 15,778,974 | 11,466,088 | |||
| Total Liabilities and Shareholders’ Equity | 33,573,325 | $ | 24,781,491 |
All values are in US Dollars.
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EASTERNINTERNATIONAL LTD. AND ITS SUBSIDIARIES
UNAUDITEDINTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
(Amountsin U.S. dollars, except for share and per share data, or otherwise noted)
| For the six months ended September 30, | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Revenues | ||||||
| - third parties | $ | 27,074,336 | $ | 21,139,650 | ||
| - a related party | 118,412 | 132,480 | ||||
| Total revenues | 27,192,748 | 21,272,130 | ||||
| Cost of Revenues | ||||||
| - third parties | (24,156,950 | ) | (18,245,800 | ) | ||
| - a related party | (17,704 | ) | - | |||
| Total cost of revenue | (24,174,654 | ) | (18,245,800 | ) | ||
| Gross Profit | 3,018,094 | 3,026,330 | ||||
| Operating Expenses | ||||||
| Selling expenses | (463,357 | ) | (351,266 | ) | ||
| General and administrative expenses | (1,523,301 | ) | (1,785,427 | ) | ||
| Total operating expenses | (1,986,658 | ) | (2,136,693 | ) | ||
| Income from Operations | 1,031,436 | 889,637 | ||||
| Other Income (Expenses) | ||||||
| Interest income | 5,559 | 509 | ||||
| Interest expenses | (171,647 | ) | (64,901 | ) | ||
| Foreign currency transaction loss | (1,593 | ) | (3,327 | ) | ||
| Insurance indemnity | 1,446 | 142,500 | ||||
| Government subsidies | 2,887 | 4,724 | ||||
| Other expenses, net | (24,386 | ) | (9,419 | ) | ||
| Total other (expenses) income, net | (187,734 | ) | 70,086 | |||
| Income Before Income Taxes | 843,702 | 959,723 | ||||
| Income tax expenses | (268,396 | ) | (419,601 | ) | ||
| Net Income | 575,306 | 540,122 | ||||
| Other Comprehensive Income | ||||||
| Foreign currency translation adjustment | 131,368 | 262,663 | ||||
| Comprehensive Income | $ | 706,674 | $ | 802,785 | ||
| Earnings Per Share | ||||||
| -Basic | $ | 0.05 | $ | 0.05 | ||
| -Diluted | $ | 0.05 | $ | 0.05 | ||
| Weighted Average Shares Outstanding | ||||||
| -Basic | 10,696,781 | 10,417,000 | ||||
| -Diluted | 11,696,781 | 11,417,000 |
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EASTERNINTERNATIONAL LTD. AND ITS SUBSIDIARIES
UNAUDITEDINTERIM CONDENSED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
FORTHE SIX MONTHS ENDED SEPTEMBER 30, 2025 AND 2024
(Amountsin U.S. dollars, except for share and per share data, or otherwise noted)
| Ordinary Shares | Preferred Shares | Additional | Accumulated other | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. of Shares | Amount | No. of Shares | Amount | paid-in capital | Statutory reserves | Retained earnings | comprehensive loss | Total | ||||||||||||
| Balance as of March 31, 2024 (Audited) | 10,417,000 | $ | 1,042 | 1,000,000 | $ | 100 | $ | 8,038,988 | $ | 675,027 | $ | 1,652,840 | $ | (617,898 | ) | $ | 9,750,099 | |||
| Amortization of restricted shares of a subsidiary | - | - | - | - | 1,400 | - | - | - | 1,400 | |||||||||||
| Net income | - | - | - | - | - | - | 540,122 | - | 540,122 | |||||||||||
| Appropriation to statutory reserves | - | - | - | - | - | 134,662 | (134,662 | ) | - | - | ||||||||||
| Foreign currency translation gain | - | - | - | - | - | - | - | 262,663 | 262,663 | |||||||||||
| Balance as of September 30, 2024 (Unaudited) | 10,417,000 | $ | 1,042 | 1,000,000 | $ | 100 | $ | 8,040,388 | $ | 809,689 | $ | 2,058,300 | $ | (355,235 | ) | $ | 10,554,284 | |||
| Balance as of March 31, 2025 (Audited) | 10,417,000 | $ | 1,042 | 1,000,000 | $ | 100 | $ | 8,040,388 | $ | 888,085 | $ | 3,219,808 | $ | (683,335 | ) | $ | 11,466,088 | |||
| Issuance of Ordinary Shares, net of offering expenses | 1,600,000 | 160 | - | - | 3,606,052 | - | - | - | 3,606,212 | |||||||||||
| Net income | - | - | - | - | - | - | 575,306 | - | 575,306 | |||||||||||
| Appropriation to statutory reserves | - | - | - | - | - | 86,909 | (86,909 | ) | - | - | ||||||||||
| Foreign currency translation gain | - | - | - | - | - | - | - | 131,368 | 131,368 | |||||||||||
| Balance as of September 30, 2025 (Unaudited) | 12,017,000 | $ | 1,202 | 1,000,000 | $ | 100 | $ | 11,646,440 | $ | 974,994 | $ | 3,708,205 | $ | (551,967 | ) | $ | 15,778,974 |
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EASTERNINTERNATIONAL LTD. AND ITS SUBSIDIARIES
UNAUDITEDINTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amountsin U.S. dollars, except for share and per share data, or otherwise noted)
| For the six months ended September 30, | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | |||||
| Cash flows from operating activities: | ||||||
| Net income | $ | 575,306 | $ | 540,122 | ||
| Adjustments to reconcile net income to net cash used in operating activities: | ||||||
| Depreciation | 51,578 | 39,083 | ||||
| (Reversal of) provision for expected credit losses | (45,175 | ) | 66,728 | |||
| Amortization of restricted shares of a subsidiary | - | 1,400 | ||||
| Deferred tax expenses (benefits) | 14,620 | (15,237 | ) | |||
| Changes in operating assets and liabilities: | ||||||
| Notes receivable | 683,467 | (320,856 | ) | |||
| Accounts receivable - third parties | (5,665,010 | ) | (681,041 | ) | ||
| Accounts receivable - a related party | 101,641 | (108,122 | ) | |||
| Contract assets | 29,822 | 74,602 | ||||
| Advances to suppliers | (625,642 | ) | (84,149 | ) | ||
| Other current assets | 815,595 | (648,382 | ) | |||
| Other non-current assets | 103,126 | (630,914 | ) | |||
| Accounts payables | 3,422,501 | (804,583 | ) | |||
| Notes payable | 277,982 | - | ||||
| Contract liabilities | (73,310 | ) | 68,679 | |||
| Income taxes payable | (279,039 | ) | 191,588 | |||
| Lease liabilities | 89,472 | - | ||||
| Other current liabilities | 787,559 | (98,618 | ) | |||
| Net cash provided by (used in) operating activities | 264,493 | (2,409,700 | ) | |||
| Cash flows from an investing activity: | ||||||
| Purchase of property and equipment | (5,045 | ) | (213,913 | ) | ||
| Net cash used in the investing activity | (5,045 | ) | (213,913 | ) | ||
| Cash flows from financing activities: | ||||||
| Proceeds from bank and other borrowings | 3,078,655 | 971,912 | ||||
| Repayments of bank and other borrowings | (2,750,589 | ) | (197,691 | ) | ||
| Borrowings from related parties | - | 206,597 | ||||
| Advances to related parties | (5,005 | ) | - | |||
| Net IPO proceeds received from the underwriter | 5,727,070 | - | ||||
| Deferred offering costs | (1,238,996 | ) | (347,335 | ) | ||
| Net cash provided by financing activities | 4,811,135 | 633,483 | ||||
| Effect of exchange rate changes on cash and restricted cash | 18,215 | 7,854 | ||||
| Net increase (decrease) in cash and restricted cash | 5,088,798 | (1,982,276 | ) | |||
| Cash, beginning of period | 846,409 | 2,170,459 | ||||
| Cash and restricted cash, end of period | $ | 5,935,207 | $ | 188,183 | ||
| Reconciliation of cash and restricted cash, end of the period | ||||||
| Cash | 5,774,150 | 188,183 | ||||
| Restricted Cash | 161,057 | - | ||||
| Total Cash and restricted Cash, end of the period | $ | 5,935,207 | $ | 188,183 | ||
| Supplemental disclosure information: | ||||||
| Cash paid for income tax | $ | 213,646 | $ | 230,868 | ||
| Cash paid for interest | $ | 171,647 | $ | 64,901 | ||
| Supplemental non-cash activities: | ||||||
| Initial recognition of lease obligations related to right-of-use assets | $ | 2,824 | $ | 106,630 | ||
| Dividends payable offset with due from related parties | $ | 142,596 | $ | - | ||
| Opening deferred offering costs offset with net IPO proceeds | $ | 881,862 | $ | - |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: December 11, 2025
| Eastern international LTD. | |
|---|---|
| By: | /s/ Albert Wong |
| Name: | Albert Wong |
| Title: | Chief Executive Officer |
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