Note 1. ORGANIZATION AND NATURE OF BUSINESS
The Company is an integrated logistics solution provider that was founded
in the United States in 2001. On September 18, 2007, the Company merged into a new corporation, Sino-Global Shipping America, Ltd. in
Virginia. On January 3, 2022, the Company changed its corporate name from Sino-Global Shipping America, Ltd. to Singularity Future Technology
Ltd. to reflect its then expanded operations into the digital assets business. Currently, we primarily focus on providing freight logistics
services, which include shipping, warehouse services and other logistical support to steel companies .
In 2017, we began exploring new opportunities
to expand our business and generate more revenue. These opportunities ranged from complementary businesses to other new services and
product initiatives. Beginning in fiscal 2022, we expanded our services to include warehousing services provided by our U.S. subsidiary
Brilliant Warehouse Service Inc.
We are currently engaged in providing freight
logistics services including warehouse services, which are operated by our subsidiaries Trans Pacific Shipping Limited and Ningbo Saimeinuo
Web Technology Ltd. in China and Gorgeous Trading Ltd. and Brilliant Warehouse Service Inc. in the United States. Our range of services
include transportation, warehouse, collection, last-mile delivery, drop shipping, customs clearance, and overseas transit delivery.
As of September 30, 2023, the Company’s
subsidiaries included the following:
| Name |
|
Background |
|
Ownership |
| Sino-Global Shipping New York
Inc. (“SGS NY”) |
|
● |
A New York corporation |
|
100% owned by the Company |
| |
● |
Incorporated on May 03, 2013 |
|
|
| |
● |
Primarily engaged in freight logistics services |
|
|
| |
|
|
|
|
|
| Sino-Global Shipping HK Ltd. (“SGS HK”) |
|
● |
A Hong Kong corporation |
|
100% owned by the Company |
| |
● |
Incorporated on September 22, 2008 |
|
|
| |
● |
No material operations |
|
|
| Name |
|
Background |
|
Ownership |
| Thor Miner Inc. (“Thor Miner”) |
|
● |
A Delaware corporation |
|
51% owned by the Company |
| |
● |
Incorporated on October 13, 2021 |
|
|
| |
● |
Primarily engaged in sales of crypto mining machines |
|
|
| |
|
|
|
|
|
| Trans Pacific Shipping Ltd. (“Trans
Pacific Beijing”) |
|
● |
A PRC limited liability company |
|
100% owned by the Company |
| |
● |
Incorporated on November 13, 2007. |
|
|
| |
● |
Primarily engaged in freight logistics services |
|
|
| |
|
|
|
|
|
| Trans Pacific Logistic Shanghai Ltd. (“Trans
Pacific Shanghai”) |
|
● |
A PRC limited liability company |
|
90% owned by Trans Pacific Beijing |
| |
● |
Incorporated on May 31, 2009 |
|
|
| |
● |
Primarily engaged in freight logistics services |
|
|
| |
|
|
|
|
|
| Ningbo Saimeinuo Web Technology Ltd. (“SGS
Ningbo”) |
|
● |
A PRC limited liability company |
|
100% owned by SGS NY |
| |
● |
Incorporated on September 11,2017 |
|
|
| |
● |
Primarily engaged in freight logistics services |
|
|
| |
|
|
|
|
|
| Blumargo IT Solution Ltd. (“Blumargo”) |
|
● |
A New York corporation |
|
100% owned by SGS NY |
| |
● |
Incorporated on December 14, 2020 |
|
|
| |
● |
No material operations |
|
|
| |
|
|
|
|
|
| Gorgeous Trading Ltd (“Gorgeous Trading”) |
|
● |
A Texas corporation |
|
100% owned by SGS NY |
| |
● |
Incorporated on July 01, 2021 |
|
|
| |
● |
Primarily engaged in warehouse related services |
|
|
| |
|
|
|
|
|
| Brilliant Warehouse Service Inc. (“Brilliant
Warehouse”) |
|
● |
A Texas corporation |
|
51% owned by SGS NY |
| |
● |
Incorporated on April 19,2021 |
|
|
| |
● |
Primarily engaged in warehouse house related services |
|
|
| |
|
|
|
|
|
| Phi Electric Motor In. (“Phi”) |
|
● |
A New York corporation |
|
51% owned by SGS NY |
| |
● |
Incorporated on August 30, 2021 |
|
|
| |
● |
No operations |
|
|
| |
|
|
|
|
|
| SG Shipping & Risk Solution Inc, (“SGSR”)
|
|
● |
A New York corporation |
|
100% owned By the Company |
| |
● |
Incorporated on September 29, 2021 |
|
|
| |
● |
No material operations |
|
|
| |
|
|
|
|
|
| SG Link LLC (“SG Link”) |
|
● |
A New York corporation |
|
100% owned by SG Shipping & Risk Solution Inc on January 25, 2022 |
| |
● |
Incorporated on December 23, 2021 |
|
| |
● |
No material operations |
|
| New Energy Tech Limited (“New Energy”) |
|
● |
A New York corporation |
|
100% owned by the Company |
| |
|
● |
Incorporated on September 19, 2023 |
|
|
| |
|
● |
No material operations |
|
|
|