olivLaw · US equity research
Tianci International, Inc. CIIT
Computer Communications Equipment · SIC 3576 · Vertical: Computer Communications Equipment (SIC 3576)
Tianci International, through its subsidiary Roshing, provides global ocean logistics services, mainly container and bulk shipping, using an asset-light model with no transport assets of its own. Revenue for fiscal 2025 was about 9.28 million USD, almost all from logistics, and from 2026 the company has also entered chrome and manganese ore trading, which changes its revenue mix and margin pressures.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 04 Nov 2026, Tianci International, Inc. (CIIT) stock was 1.71 USD (+2.83% on the day), with market capitalisation 2.0 m USD, P/E 17.1 on diluted EPS of 0.10 USD over the last 12 months, beta 0.38, 52-week range 1.66–45.78 USD. Latest reported quarter (Q4 2026): revenue of 2.2 m USD (−2.0% YoY), net income of -1.8 m USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 33.8
- weak (30–45)
- Bollinger (20, 2)
- 1.39 – 2.52
- in the lower half of the band · %B 0.28 · band width 57.7%
- SMA 50 / 200
- 2.42 / 13.12
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.24 / -0.24
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −33.8% | −1.1% | −32.7 pp | — |
| 3 months | −53.5% | −0.5% | −53.0 pp | — |
| 6 months | −88.5% | +4.4% | −92.9 pp | — |
| Year to date | −92.7% | +12.3% | −105.0 pp | — |
| 1 year | −95.8% | +13.5% | −109.3 pp | +10.4% |
| 3 years | −96.4% | +76.4% | −172.8 pp | +63.6% |
| 5 years | −96.7% | +63.7% | −160.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q4 2026 · 31 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.0 m | 2.1 m | 1.9 m | 2.3 m | 3.8 m | 3.9 m | 4.3 m | 2.2 m |
| Cost of revenue | 2.8 m | 2.0 m | 1.9 m | 2.2 m | 3.4 m | 3.8 m | 3.6 m | 2.3 m |
| Gross profit | 228.4 k | 80.0 k | 58.0 k | 83.7 k | 384.3 k | 90.3 k | 697.5 k | -114.2 k |
| Operating income | -117.2 k | -106.3 k | -966.3 k | -1.5 m | -268.8 k | -417.1 k | 115.3 k | -1.9 m |
| Pre-tax income | -89.8 k | -106.3 k | -966.3 k | -1.5 m | -268.9 k | -417.1 k | 115.3 k | -1.9 m |
| Income tax | 2.2 k | 4.7 k | -6.9 k | 5.8 k | 0 | 0 | 23.7 k | -23.7 k |
| Net income | -93.1 k | -113.4 k | -948.0 k | -1.5 m | -268.1 k | -399.9 k | 48.7 k | -1.8 m |
| Operating cash flow | -15.2 k | -143.2 k ≈ | -1.8 m ≈ | -1.2 m | -727.4 k | -954.8 k ≈ | -4.9 k ≈ | -512.2 k |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 3-quarter history (min 1,610.7, median 4,587.7, max 5,789.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 752.8 k | 452.4 k | 8.6 m | 9.3 m | 14.2 m |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | −39.9% | +1,804.8% | +7.7% | +53.4% |
| Net income | -88.0 k | -73.8 k | -74.4 k | 144.1 k | -341.2 k | 54.5 k | -2.6 m | -2.4 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | −336.7% | unavailable | −4,949.9% | unavailable |
| Diluted EPS | unavailable | unavailable | 0.03 | 0.10 | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS YoY | unavailable | unavailable | unavailable | +233.3% | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable | 19.1% | -75.4% | 0.6% | -28.4% | -16.7% |
| Free cash flow | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2026 · 31 Jul 2026
- Cash
- 4.4 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 5.6 m USD
- Total assets
- 5.7 m USD
- Debt / equity
- unavailable
- Current ratio
- 41.96x
- ROE
- -55.5%
- ROA
- -53.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 752.8 k | 452.4 k | 8.6 m | 9.3 m | 14.2 m | SEC (XBRL)· 04 Nov 2026verified |
| Cost of revenue | — | 478.5 k | 456.5 k | 7.6 m | 8.8 m | 13.2 m | SEC (XBRL)· 04 Nov 2026verified |
| Gross profit | — | 274.3 k | -4.1 k | 1.1 m | 450.1 k | 1.1 m | SEC (XBRL)· 04 Nov 2026verified |
| Operating income | -63.0 k | 191.8 k | -344.0 k | 168.3 k | -2.7 m | -2.5 m | SEC (XBRL)· 04 Nov 2026verified |
| Pre-tax income | -74.4 k | 191.8 k | -344.0 k | 146.2 k | -2.7 m | -2.5 m | SEC (XBRL)· 04 Nov 2026verified |
| Income tax | 0 | 31.7 k | 12.1 k | 35.9 k | 5.8 k | 0 | SEC (XBRL)· 04 Nov 2026verified |
| Net income | -74.4 k | 144.1 k | -341.2 k | 54.5 k | -2.6 m | -2.4 m | SEC (XBRL)· 04 Nov 2026verified |
| Diluted EPS | 0.03 | 0.10 | — | — | — | — | SEC (XBRL)· 31 Oct 2022verified |
| Weighted average diluted shares | 2.5 m | 2.5 m | — | — | — | — | SEC (XBRL)· 31 Oct 2022verified |
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 4.0 k | 9.0 k | 256.3 k | 413.1 k | 2.4 m | 4.4 m | SEC (XBRL)· 04 Nov 2026verified |
| Receivables | — | — | — | 0 | 0 | 452.8 k | SEC (XBRL)· 04 Nov 2026verified |
| Inventories | — | — | — | 0 | 215.3 k | 231.8 k | SEC (XBRL)· 04 Nov 2026verified |
| Current assets | 18.0 k | 758.9 k | 312.2 k | 910.3 k | 3.0 m | 5.5 m | SEC (XBRL)· 04 Nov 2026verified |
| Property, plant & equipment, net | — | — | — | — | 0 | 153.5 k | SEC (XBRL)· 04 Nov 2026verified |
| Intangibles (excl. goodwill) | — | — | — | — | 119.5 k | 58.8 k | SEC (XBRL)· 04 Nov 2026verified |
| Total assets | 18.0 k | 760.3 k | 320.2 k | 912.0 k | 3.1 m | 5.7 m | SEC (XBRL)· 04 Nov 2026verified |
| Accounts payable | 9.9 k | 444.9 k | 779 | 0 | 18.6 k | 3.6 k | SEC (XBRL)· 04 Nov 2026verified |
| Current liabilities | 343.1 k | 655.6 k | 596.8 k | 122.0 k | 97.7 k | 130.1 k | SEC (XBRL)· 04 Nov 2026verified |
| Total liabilities | 343.1 k | 655.6 k | 598.8 k | 122.0 k | 159.1 k | 130.1 k | SEC (XBRL)· 04 Nov 2026verified |
| Equity | -75.5 k | 104.8 k | -278.6 k | 790.0 k | 3.0 m | 5.6 m | SEC (XBRL)· 04 Nov 2026verified |
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -74.2 k | -84.2 k | 324.6 k | 112.7 k | -3.2 m | -2.2 m | SEC (XBRL)· 04 Nov 2026verified |
| Investing cash flow | 0 | — | — | — | 0 | -153.5 k | SEC (XBRL)· 04 Nov 2026verified |
| Financing cash flow | 74.2 k | 85.1 k | -89.5 k | 44.0 k | 5.2 m | 4.4 m | SEC (XBRL)· 04 Nov 2026verified |
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
4 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 51.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 2.0 m USD
Key indicators
Coverage and freshness
Score by group
51% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/Salesunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 51.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| Gross margin · Quality | 7.4% | 0 (on a fixed band) | 21% |
| EBIT margin · Quality | -17.2% | 33 (vs peers) | 17% |
| FCF margin · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 215.8% | 100 (on a fixed band) | 33% |
| Revenue growth (YoY) · Growth | 53.4% | 100 (vs peers) | 17% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 42.0x | 100 (on a fixed band) | 13% |
| EV/Sales · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/2 factors with a value
- Growth100/100 · 2/2 factors with a value
- Quality15/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partialunavailable · 0/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
TIANCI INTERNATIONAL, INC. (CIIT). Latest full fiscal year: 2026; data up to 2026-07-31.
Figures computed from the financial statements: revenue 14.2 m USD in 2026; YoY growth 53.4%; net margin -16.7%; ROE -55.0%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 51.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 215.8%
- Revenue growth (YoY): 53.4%
- Current ratio: 42.0x
What contradicts it
- Gross margin: 7.4%
Not assessed (insufficient data or a ratio without meaning): FCF margin, Net debt / EBITDA, EV/Sales, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Computer Communications Equipment (SIC 3576) · same industry (4-digit SIC) · compared with 15 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| CSCOCisco Systems, Inc. | 408.5 bn | 31.1 | 27.3% | 21.0% | +11.8% | +35% / +114% |
| ANETArista Networks, Inc. | 225.5 bn | 48.0 | 33.5% | 40.0% | +28.6% | +37% / +225% |
| FFIVF5, Inc. | 18.7 bn | 26.3 | 19.8% | 22.0% | +9.7% | +38% / +93% |
| EXTRExtreme Networks, Inc. | 3.0 bn | 58.0 | 67.1% | 4.0% | +12.6% | +31% / +42% |
| DGIIDigi International Inc. | 2.8 bn | 57.5 | 7.5% | 9.6% | +1.5% | +74% / +208% |
| ATENA10 Networks, Inc. | 1.7 bn | 40.0 | 19.4% | 13.9% | +11.0% | +38% / +91% |
| NTGRNETGEAR, Inc. | 586.0 m | — | -7.0% | -4.9% | +3.8% | −16% / +64% |
| ALLTAllot Ltd. | 421.3 m | 108.3 | 4.5% | 3.6% | +10.6% | −10% / +541% |
| LTRXLantronix, Inc. | 263.9 m | — | -4.3% | -3.5% | −1.6% | +10% / 0% |
| SILCSilicom Ltd. | 181.2 m | — | -9.4% | -18.5% | +6.6% | +112% / +95% |
| BOSCBos Better Online Solutions Ltd | 29.8 m | 7.4 | 14.4% | 7.1% | +26.6% | −9% / +48% |
| FOXXFoxx Development Holdings Inc. | 13.3 m | — | — | -100.2% | −20.2% | −58% / −83% |
| INTZIntrusion Inc. | 11.9 m | — | -140.9% | -194.0% | +21.6% | −66% / −93% |
| WLDSWearable Devices Ltd. | 4.2 m | — | -72.3% | -1,253.0% | +23.9% | −92% / −100% |
| HUBCHUB Cyber Security Ltd. | 3.4 m | — | — | -134.5% | −30.7% | −100% / −100% |
| CIITTianci International, Inc. | 2.0 m | — | -55.0% | -16.7% | +53.4% | −96% / −96% |
1- and 3-year price returns: for CIIT from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 22 Jun 2026; since then the company filed 10-K (04 Nov 2026).
In brief
Tianci International, through its subsidiary Roshing, provides global ocean logistics services, mainly container and bulk shipping, using an asset-light model with no transport assets of its own. Revenue for fiscal 2025 was about 9.28 million USD, almost all from logistics, and from 2026 the company has also entered chrome and manganese ore trading, which changes its revenue mix and margin pressures.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Thin logistics marginshigh
Transport costs rose faster than the rates charged, and gross margin fell below 4% in fiscal 2025 1. If this continues, profitability could remain negative.
- Dependence on ore tradinghigh
The new activity depends on stable supply, raw material prices and sea routes, which are hard to control 2.
- Geopolitical and trade risksmedium
Wars, tariffs and tensions between major economies can reduce transport demand and raise costs 1.
- Liability for transport incidentsmedium
Maritime accidents, cargo loss or damage can create costs and reputational harm, and insurance might not cover everything 1.
Investment thesis
What would need to be true (bull case)
- If the new ore line keeps its margins and volumes, the company could reduce its dependence on low-margin logistics.
- The quarter ended April 30, 2026 showed a positive net result after losses in the prior year, suggesting cost reduction may continue 3.
- Reorientation toward long-distance routes and geographic expansion could improve logistics margins if the strategy is executed 13.
What would break the thesis
- Gross margin in logistics remains very small, and another rise in transport costs could eliminate profit.
- The customer and supplier base is relatively narrow, and losing key relationships could quickly affect revenue.
- Working capital declined over the first nine months of fiscal 2026 while receivables rose sharply, which could pressure liquidity 3.
What to watch
- Trend in logistics gross margin and transport costsQ1 2027
- Volume and margin of chrome and manganese ore salesQ1 2027
- Results of the shift to long-distance routes and expansion into Africa and South America2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 22 Jun 2026; since then the company filed 10-K (04 Nov 2026).
The business
Roshing's main container routes run from Asia to Africa, America, Europe and Australia, while its main bulk route covers Japan, South Korea and Vietnam 1. In the quarter ended April 30, 2026, the company described its regional activity as including China, and it extends services toward Africa 2. Roshing also earns small revenue from electronic parts and consulting services, which are minor compared with logistics 1.
From 2026 the company has extended its model into trading chrome and manganese ore, sourced directly from resource-rich regions and resold to metallurgical and steelmaking customers 2. The plan is to integrate ore distribution with existing shipping operations to offer end-to-end supply chain solutions 3. Management has said this line could reduce dependence on local shipping demand, but supply and international trade risks remain significant 3.
Market context
The company operates in international ocean transport of containers and bulk goods, an intensely competitive sector where price and service quality are the main factors 1. Demand depends on the level of international trade, which is shaped by tariff policy, geopolitical tensions and fuel costs 1. In the quarter ended April 30, 2026, logistics demand increased modestly as concerns over tariffs eased, while demand in Southeast Asia declined 3.
The chrome and manganese ore market depends on source availability, global commodity prices and maritime transport conditions 2. The company notes that using its own shipping could be an advantage, but higher freight rates or port congestion could quickly weigh on margins 2.
Trends
- Rising transport costsheadwind
Costs from cargo space suppliers rose faster than the prices charged to customers, compressing gross margin 1. If this pressure persists, logistics margins could remain low.
- Diversification into orestailwind
Sales of chrome and manganese ore opened a new revenue source and supported revenue growth in 2026 3. If this line develops, it could reduce reliance on logistics demand in Southeast Asia.
- Geopolitical tensions and tariffsmixed
Trade tensions and regional conflicts affect the volume of international trade and transport costs, in both directions 13. The net effect depends on how these factors evolve.
- Shift toward long-distance routestailwind
The company intends to focus on long-distance shipping lines, which generally carry higher margins than short East Asian routes 13. If the strategy works, margins could improve, but it requires investment and new supplier relationships.
Competitive position
In container shipping Roshing competes with global operators such as Maersk, Mediterranean Shipping Company and CMA CGM, and with integrated logistics firms such as DHL and FedEx 1. These rivals have extensive networks, advanced tracking technology and far greater resources than Tianci. In bulk shipping, competition comes from Oldendorff Carriers, Pacific Basin and Star Bulk Carriers, which operate large fleets and global networks 1.
Tianci responds with customized service, direct customer relationships and flexible chartering, but it owns no vessels and lacks the scale of its competitors 1. Its advantage rests on management's experience and relationships in the Asia-Pacific region 1.
- Maersk
Global container operator with an extensive network and integrated services, the main container competitor named in the source.
- Mediterranean Shipping Company
Global container carrier cited as a competitor with a large network and full service offering.
- CMA CGM Group
International maritime container group named among competitors in containerized shipping.
- Pacific Basin
Bulk ship operator with a large fleet, a direct competitor in bulk goods shipping services.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Annual report04 Nov 2026
- Current report15 Oct 2026Material agreement · Item 3.02
- Current report06 Oct 2026Other events
- Current report15 Sept 2026Other events · Financial statements and exhibits
- Current report09 Sept 2026Other events · Financial statements and exhibits
- Current report24 Aug 2026Material agreement · Financial statements and exhibits
- Current report31 Jul 2026Departure or appointment of officers
- Current report24 Jul 2026Other events · Financial statements and exhibits
- Current report (amendment)22 Jul 2026Item 3.03 · Amendments to articles or bylaws
- Current report21 Jul 2026Item 3.03 · Amendments to articles or bylaws · Regulation FD disclosure · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-07-31 · SEC / Tianci International, Inc. · 03 Oct 2025
- [2] Form 10-Q, quarter ended 2026-04-30 · SEC / Tianci International, Inc. · 22 Jun 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Tianci International, Inc. · 22 Jun 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.