, /PRNewswire/ — Caravelle International Group (Nasdaq: HTCO), a global ocean technology company, today announced its Condensed Interim Unaudited financial results for the period ended April 30, 2024.
During the reported period, Caravelle achieved revenue of approximately $35 million with income from operation of approximately $150,000, which is a significant improvement compared to an operational loss of $7 million for the same period in the financial year of 2023.
Mr. Hanxi Chang, CEO of Caravelle, stated, “In 2024, through optimizing our business structure and enhancing operational efficiency, we successfully turned around operational losses despite continued weak demand in the freight sector. As governments, particularly in the EU, further strengthen their commitment and regulations to reduce carbon emissions in the shipping industry, we believe that the market value for addressing these emissions will approach $10 billionover the next five years. The new directors and officers are in discussions with leading companies in the fields of carbon capture, usage and storage (CCUS) …