High-Trend International Group

Recent Developments

Following notice given on April 30, 2026, the 630,000 Class A Ordinary Shares previously issued as pre-delivery shares in connection with our securities purchase agreement with Streeterville Capital, LLC were effectively returned and cancelled on May 4, 2026.

On May 7, 2026, we held an extraordinary general meeting of shareholders and a meeting of holders of Class A Ordinary Shares. At the extraordinary general meeting, shareholders approved an increase in our authorized share capital from $1,250,000, divided into 489,900,000 Class A Ordinary Shares of a par value of $0.0025 each and 10,100,000 Class B Ordinary Shares of a par value of $0.0025 each, to $5,275,250, divided into 2,000,000,000 Class A Ordinary Shares of a par value of $0.0025 each and 110,100,000 Class B Ordinary Shares of a par value of $0.0025 each. At the meeting of holders of Class A Ordinary Shares, the Class A shareholders approved an increase in the voting rights of each Class B Ordinary Share from twenty votes to one hundred votes on all matters subject to shareholder vote.

On May 14, 2026, we closed a securities purchase agreement with certain institutional investors for the issuance and sale of 2,307,700 Class A Ordinary Shares, at an offering price of $6.50 per share. We received gross proceeds of approximately $15 million before deducting placement agent fees and other estimated offering expenses payable by us.

On May 21, 2026, we repaid the remaining $2,373,951 balance outstanding under a promissory note payable by us to High-Trend Holdings USA LLC, a related party controlled by Mr. Jinyu Chang, one of our major shareholders. This obligation had been incurred on April 27, 2026 when High-Trend Holdings USA LLC paid $2.6 million on behalf of us to pay off our obligations under a promissory note.

In June, 2026, one of our third-party service providers indicated that they will imminently commence a legal proceeding against us arising from a breach of contract claim. Formal legal proceedings have not commenced as of the date hereof. As of the date hereof, the outcome of such proceeding cannot be predicted; however, we not anticipate that the final outcome arising out of any such matter will have a material adverse effect on our consolidated financial position, cash flows or results of operations.