Armlogi

Provides U.S. third-party logistics for predominantly overseas e-commerce merchants, moving goods through customs and domestic transportation into a multi-state warehouse network. The service package includes receiving and inspection, storage, inventory management, pick-and-pack, labeling, kitting, outbound parcel or freight arrangements, and returns-related handling, including support for large and bulky goods.

Makes most revenue by purchasing transportation from direct or third-party carriers and reselling it, alongside warehouse storage and fulfillment services. Leased facilities, internally managed middle-mile moves, and warehouse-management technology support the operating model; routing software selects fulfillment nodes using delivery, inventory, carrier-rate, and capacity inputs.

Operates warehouses across California, Texas, Illinois, New Jersey, and Georgia, while a large share of customers and revenue is tied to mainland China. Carrier costs, warehouse leases, labor, utilization, cross-border trade flows, platform-bundled delivery services, financing availability, and Nasdaq continued-listing compliance are material dependencies.