TIANCI INTERNATIONAL, INC. Form 10-K

 false 2025 FY 0001557798

 2025-01-31

 2025-10-03

 us-gaap: SeriesAPreferredStockMember

 us-gaap: SeriesAPreferredStockMember

 us-gaap: SeriesBPreferredStockMember

 us-gaap: SeriesBPreferredStockMember

 CIIT:UndesignatedPreferredStockMember

 CIIT:UndesignatedPreferredStockMember

 CIIT:GlobalLogisticsServicesMember

 CIIT:GlobalLogisticsServicesMember

 CIIT:OtherRevenueMember

 CIIT:OtherRevenueMember

 CIIT:CommonSharesMember

 CIIT:CommonSharesMember

 CIIT:PreferredSharesAMember

 CIIT:PreferredSharesAMember

 CIIT:PreferredSharesBMember

 CIIT:PreferredSharesBMember

 CIIT:RQSMember

 2023-01-31

 CIIT:HongKongOfficeFacilityMember

 2023-08-31

 CIIT:HongKongOfficeRentalServiceAgreementMember

 CIIT:IncomeTaxPenaltyMember

 CIIT:IncomeTaxPenaltyMember

 CIIT:ConvertibleSeriesBPreferredStockMember

 CIIT:ConvertibleSeriesBPreferredStockMember

 CIIT:RQSMember

 CIIT:UplistingMember

 2025-04-10
 2025-04-11

 CIIT:InventoryPurchaseMember

 CIIT:InventoryPurchaseMember

 CIIT:EmployeeReimbursementAdvanceMember

 CIIT:EmployeeReimbursementAdvanceMember

 CIIT:OtherServicesMember

 CIIT:OtherServicesMember

 CIIT:RQSCapitalMember

 CIIT:RQSCapitalMember

 2023-01-26

 us-gaap: SeriesAPreferredStockMember

 CIIT:FivePresentOrFormerMembersOfTheBoardMember

 CIIT:RQSCapitalMember

 CIIT:RQSCapitalMember
 us-gaap: SeriesAPreferredStockMember

 CIIT:NineInvestorsMember

 2024-01-23
 2024-01-24

 CIIT:RQSCapitalLimitedMember
 us-gaap: SeriesBPreferredStockMember

 2024-04-23
 2024-04-24

 CIIT:ThirdPartyConsultantMember

 2025-04-10
 2025-04-11

 CIIT:WarrantsMember

 country: HK

 country: HK

 country: US

 country: US

 country: HK

 CIIT:CustomerOneMember

 CIIT:CustomerTwoMember

 CIIT:CustomerOneMember

 CIIT:CustomerTwoMember

 CIIT:CustomerThreeMember

 us-gaap: AccountsReceivableMember
 CIIT:NoCustomersMember

 CIIT:TotalPurchasesMember
 CIIT:VendorOneMember

 CIIT:TotalPurchasesMember
 CIIT:VendorOneMember

 CIIT:TotalPurchasesMember
 CIIT:VendorTwoMember

 us-gaap: AccountsPayableMember
 CIIT:OneVendorMember

 us-gaap: AccountsPayableMember
 CIIT:NoVendorMember

 CIIT:HongKongOfficeSpaceMember

 2025-07-01

 2025-06-30
 2025-07-01

 CIIT:ElectronicDeviceHardwareComponentsSalesMember

 CIIT:ElectronicDeviceHardwareComponentsSalesMember

 CIIT:SoftwareAndWebsiteDevelopmentServicesMember

 CIIT:SoftwareAndWebsiteDevelopmentServicesMember

 CIIT:SoftwareMaintenanceAndBusinessPromotionServicesMember

 CIIT:SoftwareMaintenanceAndBusinessPromotionServicesMember

 CIIT:BusinessConsultingServicesMember

 CIIT:BusinessConsultingServicesMember

 country: VN

 country: VN

 country: JP

 country: JP

 country: SG

 country: SG

 2025-05-01

 UNITED STATES

 SECURITIES AND EXCHANGE COMMISSION

 Washington, D.C. 20549

 _____________________

 FORM 10-K

 ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF
 THE SECURITIES EXCHANGE ACT OF 1934.

 FOR THE FISCAL YEAR ENDED JULY 31, 2025

 TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE
 SECURITIES EXCHANGE ACT OF 1934

 For the transition period from _____ to _____

 Commission File No. 001-42591

 TIANCI INTERNATIONAL, INC.

 (Exact Name of Registrant as Specified in its Charter)

 Nevada

 45-5540446

 (State or Other Jurisdiction of

incorporation or organization)

 (I.R.S. Employer

I.D. No.)

 Unit 1109, Lippo Sun Plaza, 28 Canton Road, Tsim Sha Tsui,

 Kowloon, Hong Kong 999077

 (Address of Principal Executive Offices)

 Registrant's Telephone Number: 852 - 26621800

 Securities Registered Pursuant to Section 12(b)
of the Act:

 Title of Each Class

 Trading Symbol

 Name of Each Exchange on Which Registered

 Common Stock, $0.0001 par value

 CIIT

 Nasdaq Capital Market

 Securities Registered Pursuant to Section 12(g)
of the Act: None

 Indicate by check mark if the registrant is a well-known seasoned issuer,
as defined in Rule 406 of the Securities Act. Yes No

 Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Act. Yes No

 Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Sections 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
 Yes No

 Indicate by check mark whether the registrant has submitted electronically
every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the
preceding 12 months (or for such shorter period that the registrant was required to submit such files.) Yes No

 Indicate by check mark whether the registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, a smaller reporting company. or an emerging growth company. See the definitions
of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging
growth company" in Rule 12b-2 of the Exchange Act. (Check One)

 Large accelerated Filer

 Accelerated Filer

 Non-accelerated Filer

 Smaller reporting company

 Emerging growth company

 If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.

 Indicate by check mark whether the registrant has filed a report on
and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section
404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

 If securities are registered pursuant to Section 12(b) of the Act,
indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to
previously issued financial statements.

 Indicate by check mark whether any of those error corrections are restatements
that required a recovery analysis of incentive-based compensation received by any of the registrant's executive officers during
the relevant recovery period pursuant to §240.10D-1(b).

 Indicate by check mark whether the registrant is a shell company (as
defined in Rule 12b-2 of the Exchange Act). Yes No

 As of January 31, 2025 (the last business day of the most recently
completed second fiscal quarter) the aggregate market value of the common stock held by non-affiliates was $ 25,394,128.

 As of October 3, 2025, there were 16,531,803 shares of common stock
outstanding.

 DOCUMENTS INCORPORATED BY REFERENCE: None

 FORWARD-LOOKING STATEMENTS: NO ASSURANCES INTENDED

 This Annual Report contains certain forward-looking
statements regarding Tianci International, Inc., its business and financial prospects. All statements that address events or developments
that we expect or anticipate will occur in the future are forward-looking statements. These statements represent Management's best
estimate of what will happen. Nevertheless, there are numerous risks and uncertainties that could cause our actual results to differ dramatically
from the results suggested in this Report, including the contingencies described in this Report under Item 1A titled "Risk Factors".

 Because these and other risks may cause the Company's
actual results to differ from those anticipated by Management, the reader should not place undue reliance on any forward-looking statements
that appear in this Report.

 PART 1

 Item 1. Business

 The Share Exchange

 On March 6, 2023 Tianci International, Inc. ( "Tianci"),
which had previously been a shell corporation with no business operations, completed a share exchange with RQS Capital Limited ( "RQS
Capital"), in which RQS Capital transferred all of the issued and outstanding capital stock of RQS United Group Limited ( "RQS
United") to Tianci, and Tianci issued to RQS Capital 1,500,000 shares of its common stock and paid a cash price of $350,000
(the " Share Exchange ").

 RQS United is a holding company incorporated in the Republic of Seychelles.
RQS United has no operations other than holding 90% of the share capital of its subsidiary, Roshing International Co., Limited, a company
organized under the laws of Hong Kong ( " Roshing "). Shufang Gao and Ying Deng, who are officers and members
of Tianci's Board of Directors are also officers and directors of Roshing. Ying Deng owns the 10% of Roshing that is not owned by
RQS United.

 The Share Exchange was accounted for as a "reverse acquisition"
effected as a recapitalization, wherein RQS United was considered the acquirer for accounting and financial reporting purposes. The
assets and liabilities of the acquired entity have been brought forward at their book value and no goodwill has been recognized on Tianci's
financial statements.

 Overview

 The Company, through
Roshing, provides global logistics services, encompassing booking and transportation arrangement and related logistics solutions. As a
logistics shipping operator, Roshing focuses on ocean freight forwarding services, including container shipping and bulk goods shipping
service.

 Roshing's customized
logistics solutions are tailored to meet the diverse needs of its customers. For its container shipping service, Roshing charters cargo
space from shipping suppliers (such as shipowners, ship carrier or non-vessel operating common carriers) and then sub-charters that cargo
space to its customers (cargo owners or cargo agents). For its bulk goods shipping service, Roshing issues fixture notes to customers
and arranges the booking of ships, and signs chartering contracts with suppliers (such as shipowners). Roshing also tailors the selection
of transport options, and arranges to transport the goods from the port of loading to the port of destination, so as to complete the performance
of the contract.

 Roshing currently does
not own or operate any transportation assets. By leveraging our senior management's expertise in the global logistics industry and
adopting an asset-light strategy at the early stage, Roshing has seen a significant growth in logistics revenue since 2023. Shufang Gao,
our CEO previously worked for a globally renowned shipping conglomerate, with over 20 years of management experience. His expertise spans
shipping operation management, and logistics transportation. Leveraging this experience, he has provided the Company with the managerial
framework to expand its global logistics business, as well as access to relevant customer and supplier resources in the shipping industry.
We are also launching global mineral trade business and currently accumulating a high-grade inventory of industrial metals. We intend
to integrate the distribution of ore with our existing shipping operations to provide end-to-end supply chain solutions for metallurgical
and steelmaking customers. Roshing's business is primarily carried out in Hong Kong and other locations in the Asia-Pacific region.
We are strategically extending our services to other continents.

 Roshing also generates
a small portion of revenue from the sale of electronic parts, and certain business and technical consulting services, independent from
its global logistics business.

 Our Services

 Our operations, conducted through
Roshing, include providing the following ser vices to our customers.

 I. Global Logistics Services

 Our global logistics
services provided through Roshing accounted for the vast majority of our revenue for the years ended July 31, 2025 and 2024. These services
encompass shipping operations and related logistics solutions. Roshing customizes its logistics solutions to meet the diverse needs of
its customers, including the optimization of shipping routes and the utilization of vessels with different tonnages. As a global logistics
enterprise, depending on the type of cargo, Roshing provides container shipping and bulk goods shipping services. Container shipping is
generally for small merchandise which can be palletized and fit into a container. Bulk goods shipping is generally for bulk commodities,
such as lumber, steel, construction materials, chemicals, and agricultural products.

 a. Container shipping

 Roshing's container shipping service includes:

 i.

 Contract and Quotation Management: Providing quotes to customers based on the number of containers, size of containers, routes, shipping
dates and various other factors.

 ii.

 Financial Management:

 Cost Management: Managing and optimizing the costs associated with cargo transportation.

 Billing and Collection: Handling the billing process and ensuring the timely collection of payments.

 iii. Risk Management:
Implementing strategies to identify, assess, and mitigate risks associated with cargo transportation.

 b. Bulk goods shipping

 Roshing's bulk goods shipping service includes:

 i.

 Customer Service and Communication: Providing ongoing support and clear communication to customers throughout the shipping process, addressing
any queries or issues promptly.

 ii.

 Fixture Note and Quotation Management

 Fixture Note: Managing and maintaining transport contracts to ensure clear and effective agreements for bulk shipping.

 Quotation Services: Offering detailed quotations for bulk shipping services, helping customers understand and proposing plans for budget control.

 iii.

 Chartering: Arranging the chartering of bulk cargo vessels including negotiating terms and conditions.

 iv.

 Ship Operations Management: Overseeing and supervising the day-to-day operations of the ships involved in bulk cargo transportation.

 v.

 Cooperation and Coordination: Facilitating collaboration and coordination between various stakeholders involved in the shipping process,
such as port authorities, cargo handlers, and other service providers.

 vi.

 Financial Management

 Cost Management: Monitoring and optimizing the costs associated with bulk cargo transportation to ensure efficiency and cost-effectiveness.

 Billing and Collection: Handling the billing processes and ensuring timely collection of payments.

 Our General Logistics Service Process

 Roshing has a long-term and close cooperation
with ocean shipping suppliers, including the signing of charter contracts, and service contracts. When a customer makes an inquiry to
Roshing, we are usually able to offer competitive quotes and customize shipping solutions quickly.

 Roshing begins by thoroughly evaluating the customer's
logistics needs, including the type of goods being shipped, the destination, and the required transportation time. Based on this information,
Roshing designs an optimal transportation plan tailored to the customer's specific requirements. This plan includes selecting the
most efficient shipping routes, determining the appropriate container or bulk cargo vessel size and type, and considering any special
handling or regulatory compliance requirements. Roshing then enters into a written contract with the customer for ocean shipping that
can best meet the customer's needs. This includes selecting a shipment method that aligns with the customer's timeline and
cargo specifications.

 Roshing works with each customer to develop a
cost-effective plan and service terms to meet the client's specific needs. This involves detailed discussions to ensure that both
parties have a clear understanding of expectations, costs, and responsibilities. Roshing will assign cargo space from the appropriate
container or bulk cargo vessel based on the volume and weight of the shipment, minimize shipping costs, select the shortest route to save
on freight, and choose the port closest to the customer's destination.

 Throughout the entire shipping process, Roshing
maintains close oversight to ensure the safety and timely arrival of goods at the destination port. This involves real-time tracking and
monitoring of the shipment, handling any unforeseen issues that may arise, and providing regular updates to the customer. By doing so,
Roshing ensures that the goods are transported safely and arrive within the agreed timeframe, meeting all customer expectations.

 We believe that Roshing stands out in the global
logistics landscape because of its core strengths. First, Roshing's management's extensive network and industry relationships
empower us with access to a wide customer base, enabling tailored solutions for an array of logistics requirements. Additionally, our
collaboration with direct shipping suppliers ensures competitive rates and transparent service delivery. Moreover, Roshing's expertise
in route optimization enables us to efficiently manage logistics routes and secure favorable terms for its clients. These strengths collectively
position us as a competitive player in the industry.

 1. Container shipping process

 Roshing has a large network of international container
shipping resources to provide customers with flexible booking services and personalized logistics solutions to meet the different needs
of customers.

 a.

 Long-term cooperation service agreements

 Roshing has a long-term cooperation agreement with container suppliers which grants it priority for container space and preferential prices.

 b.

 Customer source and inquiry quotation

 Current container shipping logistics customers of Roshing mainly come from the direct business contacts of the Company's management. Roshing's customers are mainly cargo owners, cargo agents, international trade companies and large commodity buyers. At present, the main cargo types of container shipping include auto parts, electronics and electrical products, clothing and shoes and small consumer products. The primary routes are from Asia to Africa, America, Europe and Australia.

 Customer Inquiry: The customer usually makes an inquiry to Roshing based on the product name, category, quantity, volume, weight, departure port, destination port, arrival time or delivery time of the goods.

 Quotation: Roshing generates shipping quotes for its clients based on the size, type and quantity of containers, the customer's date, shipping providers and route needs.

 c.

 Contract signing and fee collection

 The customer places a confirmation order with Roshing, usually in the form of booking order which includes route, shipper, consignee, name of vessel, loading port, discharge port, container type, container quantity, cargo quantity, cargo description, gross weight and other information.

 Roshing issues an invoice and debit note to the customer for fee collection.

 d.

 Container freight payment

 Roshing notifies the supplier (shipowner, ship carrier, non-vessel operating common carriers and freight forwarder) to confirm the booking information, and the supplier issues an invoice to Roshing for payment.

 Roshing makes payment to the supplier and ensures that the supplier completes the shipment according to the agreed upon terms.

 e.

 Transportation arrangements

 The customer is responsible for loading goods, container trailers, customs declaration, purchase of insurance and delivery of containers to the container yard at the loading port prior to the shipping cutoff date.

 After the customer completes the customs declaration and releases the products, the shipowner loads the containers onto the vessel and ships them to the designated port of destination according to the selected route. During this period, Roshing notifies the shipowner or the freight forwarder to issue a sea waybill or proforma to the customer detailing the condition that the freight has been received.

 After discharging the goods at the destination port, the shipowner will notify the local freight forwarder designated by the customer to complete the customs clearance of the goods and land transportation of the containers to their destination.

 f.

 Follow up work

 Roshing oversees the shipment process to ensure it meets the customer's satisfaction.

 2. Bulk goods shipping process

 Roshing's bulk shipping operator services
encompass a broad range of bulk merchandise, including steel, building materials, and engineering materials. Roshing provides customized
maritime logistics solutions for customers. At present, Roshing's main bulk shipping route covers Japan, South Korea and Vietnam.
To ensure that its customers receive customized shipping plans, Roshing closely follows shipping industry development trends, analyzes
the characteristics of its customer's goods, the port of destination, and timing requirements. Roshing also constantly optimizes
the route layout to improve transportation efficiency and ensure that the goods arrive at the destination safely and on time.

 a.

 Customer development

 The management and business teams of Roshing promote its services, develop customers and obtain cooperation opportunities through customer visits and direct sales.

 Roshing gets referrals from customers and agents. Roshing then pays a sales commission to the referring customers and agents.

 b.

 Customer inquiry and quotation

 Inquiry: The customer puts forward the shipping requirements to Roshing, including the goods to be transported, the type and quantity of the goods, the characteristics of the goods, the transportation time, the destination port, any special arrangements and other needs.

 Customized quotation: Roshing carries out pre-quotation work based on customer needs, such as shipping route supply resource inquiry and shipping demand matching. Roshing then confirms the shipping plan and cost quote with the customer.

 c.

 Contract signing and payments

 Contract signing: Roshing usually enters a fixture note with the customer, which contains the details of the specifications, quantities, transit times, prices, pricing methods, and others.

 Payment: Roshing calculates the sea freight according to the fixture note and issues an invoice to the customer for the sea freight payment.

 d.

 Supplier's selecting and chartering

 When selecting shipping supplier, Roshing considers the cargo characteristics, ship characteristics, cargo type & quantity, transportation requirements and shipment date.

 When signing a fixture note with its customer, Roshing will sign a fixture note with the shipping supplier as well. The shipping suppliers are usually shipowners or ship carriers.

 e.

 Transportation arrangement and payment

 i. Most of Roshing's bulk cargo
logistics are carried out on a Free In and Out ("FIO"), which means that the shipper is responsible for loading the cargo
onto the vessel, the shipowner is responsible for the transport and the consignee is responsible for the unloading process. The FIO process
for international shipping includes:

 Merchandise packing, land transportation, warehousing, port operation, customs clearance, loading operation and other work shall be completed by the cargo owner or its agency.

 Usually after the goods are loaded on board, the agency obtains the captain's receipt and issues the bill of landing.

 Roshing's responsibilities include ocean transportation of the goods from the time the goods are loaded onboard, onboard storage management, transportation process, sea navigation planning and adjustment, risk management, until the arrival of the goods at the destination port, and cargo unloading operations. Roshing's obligation of carriage is completed when the merchandise is unloaded from the ship.

 ii. Customs clearance, delivery of
goods, and delivery of shipping documents are usually completed by agencies in different ports. In most shipping scenarios, the consignment
arrangement is made by the consensual shipping supplier. In some transport scenarios, Roshing directly assigns the agency for customers.

 iii. Transportation Fee payment: Roshing
usually pays the transportation fee to the shipping supplier in 3-4 days. If there are other fees, such as processing fees, port fees,
commission, agency fees and other related fees, the fees are settled according to the customer's contract with Roshing.

 f.

 Follow up service

 i.

 File Organizing

 Transportation records: After the shipping
process, Roshing will organize and keep all documents and records generated during transportation for record.

 ii.

 Customer Feedback

 Customer feedback: Roshing pays great
attention to its customer experience. It collects customer feedback on transportation services and addresses any problems or complaints
that may arise.

 Global Logistics Business Strengths

 Specialized Services: We boast a professional team that uses its collective experience and connections to provide clients with tailored, efficient, and reliable global logistics solutions. Shufang Gao, our CEO previously worked for a globally renowned shipping conglomerate, with over 20 years of management experience. His expertise spans shipping operation management and logistics transportation. Leveraging this experience, he has provided the Company with the managerial framework for expanding its global logistics business, as well as access to relevant customer and supplier resources in the shipping industry. Based on our collective knowledge and experience, we are able to tailor our services according to the needs of our customers' needs, including route optimization, vessel selection, port logistics scheduling, and stringent cost management.

 Regional Network: With the collective experience of our team, we have cultivated a network of valuable partnerships, particularly in our core regions of Japan, South Korea, and Vietnam. By focusing our efforts on these regions, we are able to offer tailored solutions that leverage our deep understanding of local regulations and market dynamics. This allows us to provide efficient and cost-effective services to our clients, facilitating logistics operations across borders. Our collaborative approach and dedication make us a trusted partner for businesses seeking reliable logistics solutions in the global marketplace.

 Stable Transport Capacity and Reserved Space: We maintain enduring and strong relationships with major shipping suppliers, allowing us to secure vessel space in advance and ensure reliable and timely delivery of clients' goods. This stability in transport capacity is particularly beneficial for clients with recurring shipping needs.

 Competition

 Roshing's container shipping operation faces
competition from global and regional shipping companies such as Maersk, Mediterranean Shipping Company (MSC), and CMA CGM Group. These
companies offer extensive networks and comprehensive services, including advanced tracking technology, competitive pricing, and strong
customer service capabilities. Additionally, logistics companies like DHL and FedEx also provide integrated transportation solutions,
including container shipping.

 To maintain competitiveness, Roshing focuses on
providing high-quality customized services, leveraging expertise, and maintaining strong relationships with customers through dedicated
support and tailored solutions.

 Roshing's bulk shipping operation services
compete with major bulk shipping companies such as Oldendorff Carriers, Pacific Basin, and Star Bulk Carriers. These companies typically
have large fleets and extensive global networks, enabling them to offer competitive pricing and reliable services. Additionally, they
may have long-term relationships with major industry players and ports, enhancing their operational efficiency.

 To compete effectively, Roshing emphasizes efficient
operational management, strong collaboration and coordination with stakeholders, and transparent financial management. By offering personalized
customer service and flexible chartering options, Roshing strives to stand out in the market and build long-term customer loyalty.

 Our Growth Strategies

 Our growth plan includes a continued focus on
the global logistics service as our primary business segment. We intend to use a portion of the proceeds from our recent public offering
to scale up our shipping operations, including chartering additional vessels. We believe that the expansion of shipping operations will
allow us to provide more cost-effective shipping options to our clients, particularly those with large load needs. Or strategies for growth
include:

 Global logistics Network Expansion and Collaborative Partnerships: We aim to broaden our global presence to South America and Africa and forge strategic alliances with regional partners to ensure that we remain agile and responsive to the dynamic demand of the market.

 Development of a proprietary presence in the global market for bulk chrome and manganese ore. We are currently accumulating a high-grade inventory of these industrial metals by sourcing directly from resource-rich regions. We intend to integrate the distribution of ore with our existing shipping operations to provide end-to-end supply chain solutions for metallurgical and steelmaking customers.

 Environmental Responsibility and Sustainable Practices: We are committed to environmental responsibility and sustainable practices, and as such, we plan to prioritize environmentally friendly ship cooperation. Through the optimization of transportation routes and the reduction of carbon emissions, we aim to further demonstrate our dedication to sustainability and contribute to a greener future.

 Continuous Training and Development: We intend to prioritize continuous training and development for our team members to uphold professionalism and ensure their skills remain aligned with industry advancements.

 II. Other Product & Services

 Electronic Device Hardware: Roshing is a distributor of hardware components for electronic devices and generates revenue from reselling these components and is not involved in product development and manufacturing. The main products include Wi-Fi modules, Bluetooth modules, 4G network modules, LED screens and touch screens, and software technical services. Roshing's main customers are oversea traders, direct traders of hardware components, companies engaged in the assembly and sale of finished products and private label entities seeking electronic component procurement with light customization.

 Software Technical Services: Roshing provides technical consulting and training services to help customers, generally its existing customers, to better understand and properly use its customized software and related hardware. Roshing also provides software maintenance service to keep customer's software up to date and assists customers in promoting business with ongoing marketing support.

 Business Consulting Services: Roshing provides business consulting services to help customers apply for immigration and non-immigration visas. The Company is responsible for performing background checks, assessment, and preparing related application paper works.

 Our People and Culture

 The following table sets forth the number of our
full time employees by function as of July 31, 2025, July 31, 2024 and July 31, 2023:

 Function

 As
 of

 As of

July 31, 2024

 As of

July 31, 2023

 Senior Management

 Human Resources and Administration

 Finance

 Sales and Marketing

 Procurement

 Technical

 TOTAL

 Insurance

 We participate in employee social security plans
for our full-time employees.

 Intellectual Property

 As of the date of this Report, we have two domain
names: roshing.com and tianci-ciit.com. We do not own or have rights to any other IP, such as patents, copyrights and trademarks.

 Environmental Matters

 We strictly comply with laws and regulations relating
to environmental protection in Hong Kong since our main operation is in Hong Kong. It has not had a material adverse effect upon our capital
expenditures, earnings, and we do not anticipate any material adverse effects in the future based on the nature of our future operations.
We do not have any relevant records of being penalized for violating environmental protection regulations.

 * * * * *

 Item 1A. Risk Factors

 RISK FACTORS

 Investing in our common
stock involves a high degree of risk. Before investing in our common stock, you should carefully consider the risks described below, as
well as the other information in this Report, including our consolidated financial statements and the related notes. In addition, we may
face additional risks and uncertainties not currently known to us, or which as of the date of this registration statement we might not
consider significant, which may adversely affect our business. If any of the following risks occur, our business, financial condition
and results of operations could be materially adversely affected. In such case the trading price of our common stock could decline due
to any of these risks or uncertainties, and you may lose part or all of your investment.

 RISKS RELATED TO OUR
BUSINESS

 Risks Related to the
Global Logistics Services

 Geopolitical conditions,
such as political instability or conflict, terrorist attacks and international hostilities can affect the Maritime transportation industry,
which could adversely affect our business.

 We conduct most of our
operations outside of the United States and our business, results of operations, cash flows, financial condition and ability to pay dividends,
if any, in the future may be adversely affected by changing economic, political and government conditions in the countries and regions
where we operate. Moreover, we operate in a sector of the economy that has been and is likely to continue to be adversely impacted by
the effects of geopolitical developments, including political instability or conflict, terrorist attacks or international hostilities.

 Currently, the world
economy faces a number of challenges, including tensions between the United States and China, new and continuing turmoil and hostilities
in Russia, Ukraine, the Middle and other geographic areas and countries, continuing economic weakness in the European Union and slowing
growth in China and the continuing threat of terrorist attacks around the world.

 Trade barriers to protect
domestic industries against foreign imports depress shipping demand. Protectionist developments, such as the imposition of trade tariffs
or the perception they may occur, may have a material adverse effect on global economic conditions, and may significantly reduce global
trade. Moreover, increasing trade protectionism may cause an increase in (a) the cost of goods exported from regions globally, (b) the
length of time required to transport goods and (c) the risks associated with exporting goods. Such increases may significantly affect
the quantity of goods to be shipped, shipping time schedules, voyage costs and other associated costs, which could have an adverse
impact on our charterers' business, operating results and financial condition and could thereby affect their ability to make timely
charter hire payments to us and to renew and increase the number of their time charters with us. This could have a material adverse effect
on our business, financial condition and operating results. Further, protectionist policies in any country could impact global markets,
including foreign exchange and securities markets. Any resulting changes in currency exchange rates, tariffs, treaties and other regulatory
matters could in turn adversely impact our business, results of operations, financial condition and cash flows.

 Any reduction in
international commerce or disruption in global trade may adversely impact our business and operating results.

 The Company
primarily provides services to customers engaged in international commerce. Everything that affects international trade has the potential
to expand or contract our primary markets and adversely impact our operating results. For example, international trade is influenced by:

 currency exchange rates and currency control regulations;

 interest rate fluctuations;

 changes and uncertainties in governmental policies and inter-governmental disputes, which could result in increased tariff rates, quota restrictions, trade barriers and other types of restrictions;

 changes in and application of international and domestic customs, trade and security regulations;

 wars, strikes, civil unrest, acts of terrorism, and other conflicts;

 changes in labor and other costs, including the impacts of inflation;

 increased global concerns regarding working conditions and environmental sustainability;

 changes in consumer attitudes regarding goods made in countries other than their own;

 changes in availability of credit; and

 changes in the price and readily available quantities of oil and other petroleum-related products.

 Our
industry is highly competitive, and failure to compete or respond to customer requirements could damage our business and the results of
operations.

 The global
logistics services industry is intensely competitive and is expected to remain so for the foreseeable future. There are a large number
of companies competing in one or more segments of the industry, but the number of firms with a global network that offer a full complement
of logistics services is more limited. Nevertheless, many of these competitors have significantly more resources than the Company and
may pursue acquisition opportunities and are developing new technologies to gain competitive advantages. Depending on the location of
the shipper and the importer, we must compete against niche players, larger entities including carriers, and emerging technology companies.
The primary competitive factors are price and quality of service. Many larger customers utilize the services of multiple logistics providers.
Customers regularly solicit bids from competitors in order to improve service and to secure favorable pricing and contractual terms such
as: longer payment terms; flexible-price arrangements; and performance penalties. Increased competition and competitors' acceptance
of expanded contractual terms coupled with customers' dissatisfaction with elevated rates, scarce capacity, and extended transit
times could result in loss of business, reduced revenues, reduced margins, higher operating costs or loss of market share, any of which
would damage our results of operations, cash flows and financial condition.

 Difficulty
in forecasting timing or volumes of customer shipments or rate changes by carriers could adversely impact our margins and operating results.

 We are not
aware of any accurate means of forecasting short-term customer requirements. However, long-term customer satisfaction depends upon our
ability to meet these unpredictable short-term customer requirements. Personnel costs, one of our larger costs, are always less flexible
in the very near term as we must staff to meet uncertain demand. As a result, short-term operating results could be disproportionately
affected.

 The timing
of our revenues is, to a large degree, impacted by factors out of our control, such as a sudden change in consumer demand for goods, changes
in trade tariffs, product launches and/or manufacturing production delays. Additionally, many customers ship a significant portion of
their goods at or near the end of a quarter, and therefore, we may not learn of a shortfall in revenues until late in a quarter. To the
extent that a shortfall in revenues or earnings was not expected by securities analysts or investors, any such shortfall from levels predicted
by securities analysts or investors could have an immediate and adverse effect on the trading price of our stock.

 Volatile
market conditions can create situations where rate increases charged by carriers and other service providers are implemented with little
or no advance notice. We often cannot pass these rate increases on to our customers in the same time frame, if at all. As a result, our
yields and margins can be negatively impacted.

 Climate
change, including measures to address climate change, could adversely impact our business and financial results.

 The long-term
effects of climate change are difficult to predict and may be widespread. The impacts of climate change may include physical risks (such
as rising sea levels, which could affect port operations or frequency and severity of extreme weather conditions, which could disrupt
our operations and damage cargo and our facilities), compliance costs and transition risks (such as increased regulation and taxation
to support carbon emissions reduction investments), shifts in customer demands (such as customers requiring more fuel efficient transportation
modes or transparency to carbon emissions in their supply chains) and customer contractual requirements around environmental initiatives
and other adverse effects. Our non-asset model gives us flexibility and an ability to change locations, modes, and carriers based on evolving
operating conditions. However, such impacts may disrupt our operations by adversely affecting our ability to procure services that meet
regulatory or customer requirements, depending on the availability of sufficient appropriate logistics solutions.

 In addition,
the increasing concern over climate change has resulted and may continue to result in more regulations relating to climate change, including
regulating greenhouse gas emissions, restrictions on modes of transportation, alternative energy policies and sustainability initiatives,
such as the FuelEU Maritime initiative or the EU Emissions Trading System. If Hong Kong imposes more stringent restrictions and requirements
than our current legal or regulatory obligations, we may experience disruptions in, or increases in the costs associated with delivering
our services, which may negatively affect our operating our results of operations, cash flows and financial condition.

 Roshing faces risks
associated with the contents of shipments and inventories handled through its logistics services, including real or perceived quality
or health issues with the products that are handled through Roshing's logistics services, and risks inherent in the logistics industry,
including personal injury, product damage, and transportation-related incidents.

 The logistics
services Roshing provides are subject to accident risks, including ship collisions, cargo damage, and cargo loss. Such events can result
in significant financial costs, legal liability, and reputational damage. In addition, Roshing's logistics service involves handling
a large volume of bulk merchandise and containers, through cargo and freights operated by third-party shipping suppliers across Roshing's
logistics services, and face challenges with respect to the protection and examination of these bulk merchandise and containers. Bulk
merchandise and containers in its network may be delayed, stolen, damaged or lost during delivery for various reasons, and we may be perceived
or found liable for such incidents. Unsafe items, such as flammables and explosives, toxic or corrosive items and radioactive materials,
may damage other bulk merchandise and containers in shipping process, harm the personnel and facilities of the third-party shipping suppliers,
or even injure the recipients. Furthermore, if Roshing fails to prevent prohibited or restricted items from entering into its network
and if it participates in facilitating transportation and delivery of such items unknowingly, Roshing may be subject to administrative
or even criminal penalties, and if any personal injury or property damage is concurrently caused, it may also be liable for civil compensation.

 The logistics
services for delivery of bulk merchandise and containers also involve inherent risks associated with transportation safety. From time
to time, the vessels and personnel of its third-party shipping suppliers may be involved in transportation and cargo accidents, and the
bulk merchandise and containers carried by them may be lost or damaged.

 Roshing
is also subject to worker health and safety laws and regulations that may expose us to costs and liabilities, potentially affecting its
results of operations, competitive position, and financial condition adversely. These laws and regulations are stringent and comprehensive,
governing the health and safety of Roshing's and workers of third-party shipping suppliers during operations. For further details,
please refer to the section titled "Regulations related to employment and labor protection" beginning on page 83.

 Any of the
foregoing could disrupt Roshing's logistics services, cause us to incur substantial expenses and divert the time and attention of
our management. Roshing may face claims and incur significant liabilities if found liable or partially liable for any injuries, damages
or losses. Any uninsured or underinsured loss could negatively influence our business and financial condition. Governmental authorities
may also impose significant fines on us or require us to adopt costly preventive measures. Furthermore, if Roshing's logistics services
are perceived to be insecure or unsafe by its customers, its business volume may be significantly reduced, and our business, financial
condition and results of operations may be materially and adversely affected.

 Roshing is subject to potential risks
arising from contractual obligations with shipping suppliers.

 Roshing's
contractual obligations with shipping suppliers encompass precise terms and conditions. Should either party fail to uphold these provisions,
it may result in legal disputes, financial penalties, and interruptions in service. These breaches, whether initiated by us or the shipping
suppliers, pose potential risks to the continuity and efficiency of Roshing's operations. Adhering to the terms outlined in these
agreements is important to maintaining positive relationships with Roshing's partners and ensuring the operation of Roshing's
shipping activities and logistics services.

 Roshing faces risks from changing customer
logistics needs, contractual obligations, and failure to meet customer requirements, which could lead to financial losses, legal liabilities,
and damage to Roshing's reputation if not managed proactively.

 Roshing's
customers' logistics needs are subject to constant change, influenced by market trends, technological advancements, and shifts in
consumer behavior. Failure to adapt to these evolving demands could lead to significant business losses. Moreover, Roshing's contractual
obligations entail meeting specific performance standards, and any failure to do so may result in liability claims, financial setbacks,
and damage to its reputation. Ensuring the fulfillment of all customer requirements, including adherence to delivery schedules, maintenance
of cargo conditions, and compliance with regulatory standards, is paramount. Any lapses in meeting these requirements could not only result
in lost business opportunities but also expose us to potential legal liabilities. Therefore, proactive measures to address these customer-related
risks are essential for maintaining Roshing's competitive edge and safeguarding its operations.

 Our revenues, operating income and cash
flows are likely to fluctuate and are subject to uncertainty and potential volatility in demand and supply for cargo space and container
loads from time to time.

 Roshing charters cargo space and container loads
from shipping suppliers based on a certain volume and then sub-charters that space to our customers under an order contract. Roshing obtains
cargo space and container loads through direct booking and block space arrangements. Pursuant to the block space agreements, it is committed
to paying for the agreed cargo space and container loads irrespective of whether it could fully utilize the allotted space. In the event
it cannot fully utilize the cargo space and container loads it sourced (i.e. the actual customers' demand for the cargo space and
container loads is less than the amount of cargo space and container loads it sourced), Roshing has to sell excess cargo space and container
loads. Roshing, however, cannot assure that there will not be instances where, for example, due to (a) departure timetable of the vessel;
(b) popularity of the route; or (c) seasonality factors, it is unable to fully consolidate/co-load all the excess cargo space and container
loads it purchased from our suppliers. In case Roshing cannot fully utilize the cargo space and container loads it obtained from its suppliers,
Roshing may have to bear the costs of all the excess cargo space and container loads it purchased and its business and results of operations
could be adversely affected.

 In the event of shortfall of the cargo space and
container loads to meet customers' demand (i.e. the actual customers' demand for the cargo space and container loads are higher
than the amount that Roshing has), Roshing has to source the cargo space and container loads from its suppliers at the prevailing market
rates. Since cargo space and container loads offered by Roshing's suppliers through direct booking is normally on a first-come-first-served
basis, with no formal agreement for guaranteed supply of cargo space and container loads, there is no assurance that Roshing will be able
to source sufficient cargo space and container loads to meet its customers' demand within the expected timeframe and at favorable
price. As a result of the shortfall of cargo space and container loads, its reputation and therefore its business, sales performance and
results of operations will be adversely affected.

 In result, we may experience fluctuations in our
revenues and cost structure and the resulting operating income and cash flows and expect that this will continue to occur in the future.
We may experience fluctuations in our financial results, including revenues, operating income and earnings per share, for reasons that
may include: (i) the types and complexity, number, size, timing and duration of client engagements; (ii) the timing of revenue recognition
under U.S. GAAP; (iii) the utilization of revenue-generating professionals, including the ability to adjust staffing levels up or down
to accommodate the business and prospects of the applicable segment and practice; (iv) the geographic locations of our clients or the
locations where services are rendered; (v) the length of billing and collection cycles and changes in amounts that may become uncollectible;
(vi) changes in the frequency and complexity of government regulatory and enforcement activities; (vii) business and asset acquisitions;
(viii) fluctuations in the exchange rates of various currencies against the U.S. dollar; (ix) fee adjustments upon the renewal of expired
service contracts or acceptance of new clients due to the adjusted scope per our refined business strategy; and (x) economic factors beyond
our control.

 The results of different segments and practices
may be affected differently by the above factors. The positive effects of certain events or factors on certain segments and practices
may not be sufficient to overcome the negative effects of those same events or factors on other parts of our business. In addition, our
mix of practice offerings adds complexity to the task of predicting revenues and results of operations and managing our staffing levels
and expenditures across changing business cycles and economic environments.

 Our results are influenced by seasonal and similar
factors. Although we evaluate our annual guidance at the end of each quarter and adjust it as necessary, unforeseen future volatility
can lead to significant deviations from our guidance. This may occur even if our guidance encompasses a range of potential outcomes and
has been updated to consider operating results.

 Seasonality and the impact of weather and
other catastrophic events adversely affect Roshing's operations and profitability.

 Roshing's operation is influenced by seasonal
factors, with February to April being off-peak seasons, and June to October being peak seasons. Roshing's operation is affected
by the winter season because inclement weather impedes operations, and some shippers reduce their shipments during winter. In addition,
in the lead-up to major holidays such as Christmas and Chinese Spring Festival, increased consumer demand often leads to a short-term
surge in cargo transportation volume. Conversely, in the later stages of holidays and traditional off-peak seasons, cargo transportation
volume may significantly decrease. At the same time, operating expenses increase due to, among other things, a decline in fuel efficiency
because of engine idling and harsh weather that creates higher accident frequency, increased claims and higher equipment repair expenditures.
Roshing also may suffers from weather-related or other events, such as tornadoes, hurricanes, blizzards, ice storms, floods, fires, earthquakes
and explosions, which may disrupt fuel supplies, increase fuel costs, disrupt freight shipments or routes, affect regional economies,
destroy its assets or the assets of its customers or otherwise adversely affect the business or financial condition of Roshing's
customers, any of which developments could adversely affect its results or make its results more volatile.

 Risk Related to Other Products & Services

 Roshing has a great dependence on a limited number of suppliers
and the loss of their manufacturing capability could materially impact its operations.

 Roshing is a distributor of hardware components
for electronic devices and generates revenue from reselling these components and is not engaged in innovative product development and
direct manufacturing business. Roshing markets off-the-shelf products, which ships directly from the manufacturer to Roshing's customer.
In the event that the supply of components or finished products is interrupted or relations with any of its principal vendors is terminated,
there could be increased costs and considerable delay in finding suitable replacement sources to manufacture the electronic device hardware
components products ("Hardware Products"). Its Hardware Products mostly are shipped from facilities located in Guangdong,
China. The shipment of these products from Mainland China exposes us to the possibility of product supply disruption and increased costs
in the event of changes in the economics condition of China.

 Defects in the Hardware Products Roshing
sells or failures in quality control related to its distribution of products could impair its ability to sell its products or could result
in product liability claims, litigation and other significant events involving substantial costs.

 The detection of significant
defects in Roshing's Hardware Products or failures in its quality control procedures, including those of its suppliers, carries
several potential consequences. These include delays in bringing products to market, decreased sales, and challenges in gaining market
acceptance. Furthermore, such issues may lead to the diversion of its development resources and damage to its reputation, with potential
regulatory restrictions. Rectifying product defects can incur substantial costs, and identifying suitable remedies may prove difficult.
Moreover, errors or defects could result in financial damage to its customers, potentially leading to litigation. Product liability lawsuits,
regardless of the outcome, may entail significant time and expenses for defense. In the absence of product liability insurance and without
being named insured on its suppliers' policies, Roshing faces the risk of being unable to cover claims or seek reimbursement from
suppliers, leaving us potentially exposed to financial liabilities.

 The software and website development markets are highly competitive.

 The management software and website development
industries are highly competitive. There are a number of larger companies, including computer manufacturers, computer service and software
companies that have greater operational, personnel and financial resources than we have. These companies currently offer and have the
technological ability to develop software products similar to those offered by us. These companies present a significant competitive challenge
to Roshing's business. Because we do not have the same financial resources as these competitors, we may have a difficult time in
the future competing with these companies. We compete based on its fright shipping and logistics knowledge, products, service, price,
system functionality and performance and technological advances. Customized and special services according to customer needs, there is
technical weakness.

 The industry in which Roshing operates has low
barriers to entry and is highly fragmented and very competitive. We anticipate that competition may intensify further as the freight software
industry matures and consolidates. Roshing's key strength lies in providing tailored services to wholesalers, e-commerce retailers
and freight forwarders in market segments that share the value of Roshing's technology. These services facilitate the management
of complex workflows and improve efficiency by enabling shipping workflow management, Marine container management, e-commerce inventory
and shipping management, and logistics data analytics. However, we cannot guarantee continuous improvement in technology and services.

 Roshing's software and website may not perform in line
with customer specifications or expectations.

 Roshing's freight
shipping and related logistic software and websites may not perform in line with customers' expectations. Future customers may also
require customized specifications that Roshing is unable to deliver. Some of these target specifications, such as those dependent on battery
technology, are constrained by the pace of general technological advancement and the capabilities of its suppliers, which are largely
beyond its control.

 Roshing's software
and website may contain design or manufacturing defects that result in unsatisfactory performance or require repair. Roshing's software
and website use a substantial amount of algorithms and software to operate. Software products are inherently complex and often contain
defects and errors, especially when first introduced. While Roshing have performed extensive internal testing on its software and website,
we have a limited frame of reference by which to evaluate the long-term performance of its software and website. There can be no assurance
that Roshing will be able to detect and fix any defects in its software and website before we sell products and services to customers.

 If Roshing's software
and website is defective or otherwise fails to perform as expected or in accordance with prescribed technical specifications and timetable,
its customers may experience accidents and suffer adverse publicity, revenue declines, ecommerce inventory disarray, breakdown of shipping
workflows, product liability claims, and significant additional expenses. These consequences could have a material adverse impact on its
business, financial condition, operating results, and prospects.

 Additionally, Roshing's software, along
with that of our third-party service provider, containing personal information of software customers, and others, could be breached, exposing
us to adverse publicity, costly government enforcement actions or private litigation, and expenses. Cyber criminals constantly devise
schemes to bypass IT security safeguards, and other retailers have experienced severe data breaches. Roshing may not anticipate all security
threats or implement preventive measures against them effectively. The costs to mitigate network security issues could be significant,
and while Roshing implemented security measures, addressing these issues may not always succeed. Unauthorized access to Roshing's
networks or databases could result in theft, publication, deletion, modification, or blocking of sensitive information, adversely affecting
our business strategy, financial condition, or operations. While Roshing has not experienced cybersecurity incidents in the past three
years, we anticipate threats to persist and cannot assure such events will not occur or have material impacts on Roshing's operations,
results of operations and financial condition in the future.

 If Roshing does
not continually update its products and/or services, they may become obsolete and Roshing may not be able to compete with other companies.

 Roshing cannot assure that it will be able to
keep pace with technological advances, or that its current suppliers will be able to keep pace with technological advances and as such,
its products and/or services may become obsolete. Roshing cannot assure you that competitors will not develop related or similar services
and offer them before Roshing does, or does so more successfully, or that they will not develop services and products more effective than
any that Roshing and/or its suppliers have or are intending to develop. In addition, although Roshing may be able to identify new suppliers
that can provide more effective services and products to be more competitive, Roshing may not be able to arrange satisfactory arrangements
in a timely manner, if at all. If that happens, its business, prospects, results of operations and financial condition will be materially
adversely affected.

 Roshing may not
be able to continue to recruit, train and retain dedicated and qualified consultants who are essential to the success of its business
and the effective delivery of policy and business advisory services to its individual and corporate clients.

 Roshing's current
talent policy advisory and application services rely heavily on Roshing's visa consultants, and the conduct of Roshing's visa
consultants is critical to maintaining its reputation. Roshing seeks to hire qualified and dedicated consultants who have the necessary
experience to provide effective advice and guidance to its clients in accordance with government policies and business management expertise
and experience. The number of consultants with these qualities is limited and Roshing needs to implement a highly selective recruitment
process.

 A decline in the
market for individual clients of Roshing's business consulting services and corporate business consulting could have a material
adverse effect on its business, prospects, financial condition and results of operations.

 There is an anticipation
of potential Hong Kong talent introduction policy revisions or the cessation of policy benefits after the second half of 2024, which may
lead to a reduction or cessation of its consulting services for talent clients. Additionally, fluctuations in Hong Kong's global
business attractiveness or other factors may impact the number of enterprises establishing business activities in Hong Kong, potentially
slowing business demand and affecting the growth of consulting enterprises we serve. Consequently, Roshing's business, prospects,
financial condition, and operating results may be significantly and adversely affected.

 General Business Risks

 We have a limited operating history
and face significant challenges and will incur substantial expenses as we build our capabilities.

 We have a limited operating
history and are subject to the risks inherent in a growing company, including, among other things, risks that we may not be able to hire
sufficient qualified personnel and establish operating controls and procedures. The company relies on few trained internal personnel as
the company only has 11 full time employees. As we build our own capabilities, we expect to encounter risks and uncertainties frequently
experienced by growing companies in new and rapidly evolving fields, including the risks and uncertainties described herein. If we are
unable to build our own capabilities, our operating and financial results could differ materially from our expectations, and our business
could suffer.

 We are currently dependent on a small
group of customers for most of our revenue. If we cannot expand our customer base many-fold, our business growth will be challenged and
affected, resulting in adjustments to our business strategy.

 As we have not achieved significant scale, we
had and expect to continue to have customer concentration. The revenue generated to date by our business has come from a small number
of customers. During the year ended July 31, 2025, two customers accounted for 68.9% of our revenue. During the year ended July 31, 2024,
three customers accounted for approximately 84% of our revenue. In order for Tianci to be viable as a public company, we must increase
our revenue. To accomplish that, we must expand our customer base. If we fail to multiply our customers, Tianci's stock may have
no significant value. There are inherent risks whenever a large percentage of revenues are concentrated with a limited number of customers.
We are unable to predict the future level of demand for our services that will be generated by these customers. In addition, we cannot
assure that any of our customers in the future will not cease purchasing logistics services from us, or that our cooperating agents will
continue introducing clients to us. Should they favor logistics services from our competitors, significantly reduce orders, or seek price
reductions in the future, any such event could have a material adverse effect on our revenue, profitability, and results of operations.

 We rely on
shipping suppliers, cargo owner and cargo agents and Hardware Products suppliers, if they become financially unstable or have
reduced capacity to provide services because of pandemics, such as COVID-19, it may adversely impact our business and operating
results.

 We depend on shipping
suppliers, cargo owners, cargo agents, and hardware products suppliers. The quality and profitability of our services and business depend
on the effective selection and oversight of these partners. Pandemics, such as COVID-19 have ever placed significant stress
on our shipping suppliers, cargo owners, cargo agents, and hardware products suppliers, which may continue to result in reduced carrier
capacity or availability, pricing volatility or more limited carrier transportation schedules which could adversely impact our operations
and financial results. During the pandemic, air carriers have been particularly affected having to cancel freights due to travel restrictions
resulting in dramatic drops in revenues, historical losses and liquidity challenges. Uncertainty over recovery of demand for passenger
air travel, in particular business travel, to pre-pandemic levels means ship carriers' operations and financial stability may
be adversely affected long term.

 Our business could be negatively affected by rising inflation
and interest rates.

 Various macroeconomic factors could adversely
affect our business, financial condition and results of operations, including changes in inflation, interest rates and overall economic
conditions and uncertainties such as those resulting from the current and future conditions in the global financial markets.

 For instance, recent inflationary environment
has negatively impacted us by slightly increasing (i) our labor costs, through higher wages, (ii) our borrowing costs, through higher
interest rates which we expect to continue to increase, and (iii) our other operating costs, such as through higher rates charged by our
service suppliers. Supply chain constraints have led to higher inflation, which if sustained, could have a negative impact on our operations.
To moderate effects of these increasing costs, we instituted proactive initiatives to optimize efficiencies in our daily operations. We
also replaced certain service suppliers with alternatives that offered more competitive rates while not compromising service quality.
In addition, we expect to modestly increase the rates we charge our customers in response to the inflationary environment should such
inflationary pressures further deteriorate in the near future. However, we cannot assure you that these measures we have taken or will
take will be effective, if at all, or that we will be able to effectively mitigate any inflationary pressures in the future. If inflation
or interest rates were to significantly increase, our business and the results of operations may be negatively affected.

 Interest rates, liquidity of credit markets and
volatility of capital markets could also affect our business and results of operations as well as our ability to raise capital on favorable
terms, or at all.

 If we are unable
to hire, retain or motivate qualified personnel, consultants, independent contractors, and advisors, we may not be able to grow effectively.

 Our performance will
be largely dependent on the talents and efforts of highly skilled individuals that we attract to our company. Our future success depends
on our continuing ability to identify, hire, develop, motivate and retain highly qualified personnel for all areas of our organization:
technological as well as entrepreneurial. Competition for such qualified employees is intense. If we do not succeed in attracting competent
personnel or in retaining or motivating them, we may be unable to grow effectively. In addition, our future success depends largely on
our ability to retain key consultants and advisors. Our inability to retain their services could negatively impact our business and our
ability to execute our business strategy.

 The Company and
its subsidiaries do not presently maintain fire, theft, product liability or any other property insurance, which leaves us with exposure
in the event of loss or damage to our properties or claims filed against us.

 The Company and its subsidiaries
do not maintain fire, theft, product liability or property insurance of any kind. The company and its subsidiaries bear the economic risk
with respect to loss of or damage or destruction to our property and to the interruption of our business, as well as liability to third
parties for damage or destruction to them or their property that may be caused by our personnel or products. Such liability could be substantial
and the occurrence of such loss or liability may have a material adverse effect on our business, financial condition and prospects.

 Our operating history
may not be indicative of our future growth or financial results and we may not be able to sustain our historical growth rates.

 Our operating history
may not be indicative of our future growth or financial results. There is no assurance that we will be able to grow in future periods.
Our growth rates may decline for any number of possible reasons and some of them are beyond our control, including decreasing customer
demand, increasing competition, declining growth of the touchscreen industry in general, emergence of alternative business models, or
changes in government policies or general economic conditions. We will continue to expand our sales network and product offerings to bring
greater convenience to our customers and to increase our customer base and number of transactions. However, the execution of our expansion
plan is subject to uncertainty and the total number of items sold and number of transacting customers may not grow at the rate we expect
for the reasons stated above. If our growth rates decline, investors' perceptions of our business and prospects may be adversely
affected and the market price of our common stock could decline.

 We incur significant costs and demands upon
management and accounting and finance resources as a result of complying with the laws and regulations affecting public companies; if
we fail to maintain proper and effective internal controls, our ability to produce accurate and timely financial statements and otherwise
make timely and accurate public disclosure could be impaired, which could harm our operating results, our ability to operate our business
and our reputation.

 Our management
is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e)
under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit
under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission's rules
and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information
required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to
the issuer's management, including its principal executive officer or officers and principal financial officer or officers, or persons
performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

 An evaluation was conducted under the supervision
and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures
as of July 31, 2025. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective
as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded,
processed, summarized and reported within the time periods specified in SEC rules and forms as a result of the following material weaknesses:

 There is an inadequate segregation of duties consistent with control objectives. The Company's management is limited in number, resulting in a situation where limitations on segregation of duties exist. In order to remedy this situation, we would need to hire additional staff to provide greater segregation of duties. Currently, it is not feasible to hire additional staff to obtain optimal segregation of duties. Management will reassess this matter in the following year to determine whether improvement in segregation of duty is feasible.

 There is a lack of formal policies and procedures necessary to adequately review significant accounting transactions. The Company utilizes a third-party independent contractor for the preparation of its financial statements. Although the financial statements and footnotes are reviewed by our management, we do not have a formal policy to review significant accounting transactions and the accounting treatment of such transactions. The third-party independent contractor is not involved in the day to day operations of the Company and may not be provided information from management on a timely basis to allow for adequate reporting/consideration of certain transactions.

 Our management
will continue to monitor and evaluate the effectiveness of our internal controls and procedures and our internal controls over financial
reporting on an ongoing basis and is committed to taking further action and implementing additional enhancements or improvements, as necessary
and as funds allow.

 If our internal control
over financial reporting or our disclosure controls are not effective, we may be unable to issue our financial statements in a timely
manner, we may be unable to obtain the required audit or review of our financial statements by our independent registered public accounting
firm in a timely manner or we may be otherwise unable to comply with the periodic reporting requirements of the SEC, our common stock
intended to be listed on Nasdaq could be suspended or terminated and our share price could materially suffer. In addition, we or members
of our management could be subject to investigation and sanction by the SEC and other regulatory authorities and to shareholder lawsuits,
which could impose significant additional costs on us and divert management attention.

 We may fail to make necessary acquisitions
or investments or enter desirable strategic alliances, and we may not be able to achieve the anticipated benefits from such acquisitions,
investments or strategic alliances.

 Our strategy for long-term growth, productivity
and profitability depends in part on our ability to make prudent decisions to make strategic acquisitions or investments or enter desirable
alliances and to realize the benefits we expect when we make those investments or acquisitions. We may evaluate and consider strategic
acquisitions and investments or enter strategic alliances to develop new services or solutions, with an aim to enhance our competitive
position and achieve long-term growth, productivity and profitability. However, we cannot assure you that we will make prudent decisions
on such acquisitions, investments, strategic alliances at all times. In addition, investments or acquisitions involve numerous risks,
including (i) potential failure to achieve the expected benefits of the integration or acquisition, (ii) difficulties in, and
the cost of, integrating operations, technologies, services and personnel, (iii) potential write-offs of acquired assets or
investments and (iv) downward effect on our operating results. These transactions will also divert management's time and resources
from our normal course of operations, and we may have to incur unexpected liabilities or expenses. Strategic alliances with third parties
could also subject us to a number of risks, including risks associated with potential leakage of proprietary information, non-performance by
the counterparty and an increase in expenses incurred in establishing new strategic alliances, any of which may materially and adversely
affect our business.

 If we cannot successfully execute or effectively
operate, integrate, leverage and grow the acquired businesses or strategic alliances, our financial results and reputation may be materially
and adversely affected. While we expect our future acquisitions, investments or strategic alliances to further enhance our value propositions
to customers and improve our long-term profitability, there can be no assurance that we will realize our expectations within the
time frame we envisage, if at all, or that we can continue to support the values we allocate to these acquired, invested or alliance businesses,
including their goodwill or other intangible assets.

 We may not be able
to prevent others from unauthorized use of our intellectual property, which could harm our business and competitive position.

 We may become an attractive
target for intellectual property attacks in the future with the increasing recognition of our brand. Any of our intellectual property
rights could be challenged, invalidated, circumvented or misappropriated, or such intellectual property may not be sufficient to provide
us with competitive advantages. In addition, there can be no assurance that (i) all of our intellectual property rights will be adequately
protected, or (ii) our intellectual property rights will not be challenged by third parties or found by a judicial authority to be invalid
or unenforceable. As of the date of the Report, we have only two domain names: roshing.com and tianci-ciit.com. We have not owned or had
rights to any other intellectual property, such as patents, copyrights, trademarks, etc.

 We are a "smaller
reporting company" under Rule 12b-2 of the Securities Exchange Act of 1934, and we cannot be certain if the scaled disclosure requirements
applicable to smaller reporting companies will make our common stock less attractive to investors and make it more difficult to raise
capital as and when we need it.

 We may continue to be
a smaller reporting company. We may take advantage of certain of the scaled disclosures available to smaller reporting companies and will
be able to take advantage of these scaled disclosures for so long as (a) the market value of our common stock held by non-affiliates is
equal to or less than $250 million as of the last business day of the most recently completed second fiscal quarter, and (b) our annual
revenues is equal to or less than $100 million during the most recently completed fiscal year and the market value of our common stock
held by non-affiliates is equal to or less than $700 million as of the last business day of the most recently completed second fiscal
quarter.

 We cannot predict if
investors will find our common stock less attractive because we may rely on these exemptions. If some investors find our common stock
less attractive as a result, there may be a less active trading market for our common stock and our stock price may be more volatile.
In addition, taking advantage of reduced disclosure obligations may make the comparison of our financial statements with other public
companies difficult or impossible. If investors are unable to compare our business with other companies in our industry, we may not be
able to raise additional capital as and when we need it, which may materially and adversely affect our financial condition and results
of operations.

 Anti-takeover provisions contained in our bylaws and articles
of incorporation as well as provisions of Nevada law, could impair a takeover attempt.

 Our bylaws, amended articles
of incorporation and Nevada law contain provisions which could have the effect of rendering more difficult, delaying or preventing an
acquisition deemed undesirable by our board of directors. Our corporate governance documents include provisions:

 limiting the liability of, and providing indemnification to, our directors and officers;

 limiting the ability of our stockholders to call and bring business before special meetings;

 controlling the procedures for the conduct and scheduling of board of directors and stockholder meetings;

 providing our board of directors with the express power to postpone previously scheduled annual meetings;

 permitting the removal of directors only upon vote or written consent of stockholders representing not less than two-thirds (2/3) of the issued and outstanding capital stock entitled to voting power; and

 restricting the ability to adopt a new bylaw upon a majority vote of stockholders. The Board shall have the power to amend, alter, change, or repeal any provision contained in the bylaws of incorporation.

 These provisions, alone
or together, could delay or prevent hostile takeovers and changes in control or changes in our management.

 The Nevada Revised Statutes
("NRS") Sections 78.411 through 78.444, regulate business combinations with interested stockholders. The NRS defines an interested
stockholder as a beneficial owner (directly or indirectly) of 10% or more of the voting power of the outstanding shares of the corporation.
Pursuant to NRS Sections 78.411 through 78.444, combinations with an interested stockholder remain prohibited for two years after
the person became an interested stockholder unless (i) the transaction is approved by the board of directors or the holders of a
majority of the outstanding shares not beneficially owned by the interested party, or (ii) the interested stockholder satisfies certain
fair value requirements. NRS 78.434 permits a Nevada corporation to opt out of the statute with appropriate provisions in its articles
of incorporation.

 NRS Sections 78.378 through
78.3793 regulates the acquisition of a controlling interest in an issuing corporation. An issuing corporation is defined as a Nevada corporation
with 200 or more stockholders of record, of which at least 100 stockholders have addresses of record in Nevada and does business in Nevada
directly or through an affiliated corporation. NRS Section 78.379 provides that an acquiring person and those acting in association
with an acquiring person obtain only such voting rights in the control shares as are conferred by a resolution of the stockholders of
the corporation, approved at a special or annual meeting of the stockholders. Stockholders who vote against the voting rights have dissenters'
rights in the event that the stockholders approve voting rights. NRS Section 78.378 provides that a Nevada corporation's articles
of incorporation or bylaws may provide that these sections do not apply to the corporation.

 Any damage to the reputation and recognition of our brand names,
including negative publicity against us, our services, operations and our directors, senior management and business partners may materially
and adversely affect our business operations and prospects.

 We believe our brand image and corporate reputation
will play an increasingly important role in enhancing our competitiveness and maintaining business growth. Many factors, some of which
are beyond our control, may negatively impact our brand image and corporate reputation if not properly managed. These factors include
our ability to provide superior solutions and services to our customers, successfully conduct marketing and promotional activities, manage
relationship with and among our customers and business partners, and manage complaints and events of negative publicity, maintain positive
perception of our Company, our peers and supply chain solution industry in general. Any actual or perceived deterioration of our service
quality, which is based on an array of factors including customer satisfaction, rate of complaint or rate of incident, could subject us
to damages such as loss of important customers. Any negative publicity against us, our solutions and services, operations, directors,
senior management, employees, business partners or our peers could adversely affect customer perception of our brand, cause damages to
our corporate reputation and result in decreased demand for our solutions and services. If we are unable to promote our brand image and
protect our corporate reputation, we may not be able to maintain and grow our customer base, and our business and growth prospects may
be adversely affected.

 We may from time to time be subject to claims,
disputes, lawsuits and other legal and administrative proceedings.

 We and our management may be subject to claims,
disputes, lawsuits, investigations and other legal and administrative proceedings incidental to the conduct of our business from time
to time. We are currently not party to any legal or arbitration proceedings, including those relating to bankruptcy, receivership or similar
proceedings and those involving any third party, which may have, or have had in the recent past, material adverse effects on our financial
position or profitability. Any claims against us or our management, with or without merit, could be time-consuming and costly to defend
or litigate, divert our management's attention and resources or harm our brand equity. Claims arising out of actual or alleged violations
of law, breach of contract or torts could be asserted against us by customers, business partners, suppliers, competitors, employees or
governmental entities in investigations and legal proceedings. These claims could be asserted under a variety of laws, including but not
limited to intellectual property laws, labor and employment laws, securities laws, tort laws, contract laws, property laws, and employee
benefit laws. If a lawsuit or governmental proceeding against us is successful, we may be required to pay substantial damages or fines.
We may also lose, or be limited in, the rights to offer some of our services. As a result, the scope of our services could be reduced,
which could adversely affect our ability to attract new customers, harm our reputation and have a material adverse effect on our business,
financial condition and results of operations. Even if we are successful in our attempt to defend ourselves in legal and administrative
actions or to assert our rights under various laws, enforcing our rights against the various parties involved may be expensive, time-consuming,
and ultimately futile.

 While we believe that we and our subsidiaries
are currently not required to obtain any other permissions or approvals from Hong Kong authorities for our business operations, we cannot
assure you that we or our subsidiaries will be able to obtain all such permissions or approvals if they are nevertheless required.

 The Directors confirm that, as of the date of
this Report, we and our subsidiaries have received all requisite permissions or approvals from the Hong Kong authorities to operate its
business in Hong Kong, including but not limited to obtaining a business registration certificate. However, we are aware that laws, regulations,
or policies in Hong Kong could change in the future. If (i) we or our subsidiaries do not receive or maintain such permissions or
approvals, (ii) we or our subsidiaries inadvertently conclude that any other permissions or approvals are not required, or (iii) applicable
laws, regulations, or interpretations change and we are required to obtain such permissions or approvals in the future, our operations
and financial condition could be materially adversely affected, and our ability to offer securities to investors could be significantly
limited or completely hindered and the securities currently being offered may substantially decline in value and become worthless.

 We may adjust our business strategies and
models in response to changing market conditions, competitive pressures, or regulatory changes. However, there is no guarantee that these
adjustments will be successful, and they may not achieve the desired results, potentially impacting our performance and financial results.

 As changes in our business environment occur, we
may adjust our business strategies to meet these changes, or we may otherwise decide to restructure our operations or businesses
or assets. In addition, external events such as shifts in demographics, alterations in consumer behavior, fluctuations in macroeconomic
conditions, and amendments to laws, regulations, and government policies governing international trade and commerce may impair the value
of our assets and increase our costs. When these changes or events occur, we may incur costs to modify our business strategy to respond
to those market dynamics and satisfactorily meet customers' demands. To meet customer demand and implement our strategies and expansion
plan, we may shift to a Vessel-Operating Common Carrier. This shift aims to achieve cost efficiency by reducing transportation costs,
as owning and operating vessels can decrease dependency on third-party shipping companies, potentially lowering transportation costs over
time. Additionally, operating our own vessels can also provide a competitive advantage over companies that rely on third-party carriers.
However, this transition may result in significant expenses for the purchase of vessels and related infrastructure necessary for our business
growth. Such initiatives and enhancements may require substantial capital expenditures. If we are unable to successfully implement our
business strategies and effectively respond to changes in market dynamics, our future financial results will suffer. Furthermore, we have
incurred, and may continue to incur, increased operating expenses in connection with certain changes to our business strategies.

 Risks Related to Doing
Business in Hong Kong

 Most of our operations are in Hong Kong.
However, due to the long arm provisions under the current Mainland China laws and regulations, the Chinese government may exercise significant
oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, or may exert more
control over offerings conducted overseas and/or foreign investment in issuers like us, which could result in a material change in our
operations and/or the value of our common stock.

 Tianci is a holding company and we conduct our
operation through our operating subsidiary Roshing in Hong Kong. Our operations are primarily located in Hong Kong and few of our clients
are Mainland China residents. At the present time, we are not materially affected by recent statements by the Mainland China Government
indicating an intent to exert more oversight and control over offerings that are conducted overseas and/or foreign investment in China-based issuers.
However, due to long arm provisions under the current Mainland China laws and regulations, there remains regulatory uncertainty with respect
to the implementation of Chinese law in Hong Kong. The PRC government may choose to exercise significant oversight and discretion, and
the policies, regulations, rules, and the enforcement of laws of the PRC government to which we are subject may change rapidly and with
little advance notice to us or our stockholders. These laws and regulations may be interpreted and applied inconsistently by different
agencies or authorities, and inconsistently with our current policies and practices. New laws, regulations, and other government directives
in the PRC may also be costly to comply with.

 We are aware that recently the PRC government
initiated a series of regulatory actions and statements to regulate business operations in certain areas in Mainland China with little
advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over China-based companies
listed overseas using VIE structure, adopting new measures to extend the scope of cybersecurity reviews, and expanding the efforts in
anti-monopoly enforcement. Since these statements and regulatory actions are new, it is highly uncertain how soon legislative or administrative
regulation making bodies will respond and what existing or new laws or regulations or detailed implementations and interpretations will
be modified or promulgated, if any, and the potential impact such modified or new laws and regulations will have on our daily business
operation, the ability to accept foreign investments and list on a U.S. or other foreign exchange.

 China's government may intervene or influence
our operations at any time or may exert more control over offerings conducted overseas and foreign investment in Hong Kong-based issuers,
which may result in a material change in our operations and/or the value of our common stock. The promulgation of new laws or regulations,
or the new interpretation of existing laws and regulations, in each case that restrict or otherwise unfavorably impact the ability or
way we conduct our business and could require us to change certain aspects of our business to ensure compliance, which could decrease
demand for our services, reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject
us to additional liabilities. To the extent any new or more stringent measures are required to be implemented, our business, financial
condition and results of operations could be adversely affected as well as materially decrease the value of our common stock.

 We will rely on
dividends and other distributions on equity paid by our Hong Kong subsidiary to fund any cash and financing requirements we may have.
In the future, the PRC government may impose restrictions on our ability to transfer funds out of Hong Kong to fund operations or for
other use outside of Hong Kong. Any limitation on the ability of our Hong Kong subsidiary to make payments to us could have a material
adverse effect on our ability to conduct our business and might materially decrease the value of our common stock.

 We are a holding company
incorporated in the United States, and we rely on dividends and other distributions on equity paid by our subsidiary in Hong Kong for
our cash and financing requirements, including the funds necessary to pay dividends and other cash distributions to our stockholders and
service any debt we may incur. If our Hong Kong subsidiary incurs debt on its own behalf in the future, the instruments governing the
debt may restrict its ability to pay dividends or make other distributions to us.

 Under the current practice
of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by Roshing. The Mainland
China laws and regulations do not currently have any material impact on transfers of cash from Roshing to Tianci or from Tianci to Roshing.
However, the Chinese government may, in the future, impose restrictions or limitations on our ability to transfer money out of Hong Kong,
to distribute earnings and pay dividends to and from the other entities within our organization, or to reinvest in our business outside
of Hong Kong. Such restrictions and limitations, if imposed in the future, may delay or hinder the expansion of our business to outside
of Hong Kong and may affect our ability to receive funds from our operating subsidiary in Hong Kong. The promulgation of new laws or regulations,
or the new interpretation of existing laws and regulations, in each case, that restrict or otherwise unfavorably impact the ability or
way we conduct our business, could require us to change certain aspects of our business to ensure compliance, which could decrease demand
for our services, reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or subject
us to additional liabilities. To the extent any new or more stringent measures are implemented, our business, financial condition and
results of operations could be adversely affected and such measures could materially decrease the value of our common stock.

 Changes in international
trade policies, trade disputes, barriers to trade, or the emergence of a trade war may dampen growth in Hong Kong, China and other markets
where the majority of our clients reside.

 Political events, international
trade disputes, and other business interruptions could harm or disrupt international commerce and the global economy, and could have a
material adverse effect on us and our customers, service providers, and other partners. International trade disputes could result in tariffs
and other protectionist measures which may materially and adversely affect our business.

 Tariffs could increase
the cost of the goods and products which could affect customers' investment decisions. In addition, political uncertainty surrounding
international trade disputes and the potential of the escalation to a trade war could have a negative effect on customer confidence, which
could materially and adversely affect our business. We may also have access to fewer business opportunities, and our operations may be
negatively impacted as a result. In addition, the current and future actions or escalations by either the United States or China that
affect trade relations may cause global economic turmoil and potentially have a negative impact on our markets, our business, or our results
of operations, as well as the financial condition of our customers, and we cannot provide any assurances as to whether such actions will
occur or the form that they may take.

 Under the Basic Law of
the Hong Kong Special Administrative Region of the People's Republic of China, Hong Kong has a high degree of autonomy and executive,
legislative and independent judicial powers, including that of final adjudication under the principle of "one country, two systems",
while the government of the PRC is responsible for its foreign affairs and defense. As a separate customs territory, Hong Kong maintains
and develops relations with foreign states and regions. However, based on recent political development, the U.S. State Department has
indicated that the United States no longer considers Hong Kong to have significant autonomy from China. Hong Kong's preferential
trade status was removed by the United States government and the United States may impose the same tariffs and other trade restrictions
on exports from Hong Kong that it places on goods from Mainland China. These and other recent actions may represent an escalation in political
and trade tensions involving the U.S., China and Hong Kong, which could potentially harm our business.

 The enactment of
Law of the PRC on Safeguarding National Security in the Hong Kong Special Administrative Region (the "Hong Kong National Security
Law") could impact our Hong Kong subsidiary.

 On June 30, 2020, the
Standing Committee of the PRC National People's Congress adopted the Hong Kong National Security Law. This law defines the duties
and government bodies of the Hong Kong National Security Law for safeguarding national security and four categories of offences — secession,
subversion, terrorist activities, and collusion with a foreign or overseas force to endanger national security — and
their corresponding penalties. On July 14, 2020, the former U.S. President Donald Trump signed the Hong Kong Autonomy Act (the "HKAA")
into law, authorizing the U.S. administration to impose blocking sanctions against individuals and entities who are determined to have
materially contributed to the erosion of Hong Kong's autonomy. On August 7, 2020, the U.S. government imposed HKAA-authorized sanctions
on eleven individuals, including former and current Hong Kong chief executives Carrie Lam and John Lee. On October 14, 2020, the U.S.
State Department submitted to relevant committees of Congress the report required under HKAA, identifying persons materially contributing
to "the failure of the Government of China to meet its obligations under the Joint Declaration or the Basic Law." The HKAA
further authorizes secondary sanctions, including the imposition of blocking sanctions, against foreign financial institutions that knowingly
conduct a significant transaction with foreign persons sanctioned under this authority. The imposition of sanctions may directly affect
the foreign financial institutions as well as any third parties or customers dealing with any foreign financial institution that is targeted.
It is difficult to predict the full impact of the Hong Kong National Security Law and HKAA on Hong Kong and companies located in Hong
Kong. If our Hong Kong subsidiary is determined to be in violation of the Hong Kong National Security Law or the HKAA by competent authorities,
our business operations, financial position and results of operations could be materially and adversely affected.

 There are political
risks associated with conducting business in Hong Kong.

 Substantially all our
operations are based in Hong Kong. Accordingly, our business operations and financial condition will be affected by the political and
legal developments in Hong Kong. During the period covered by the financial information included in this Report, we derive substantially
all of our revenue from operations in Hong Kong. Any adverse economic, social and/or political conditions, material social unrest, strike,
riot, civil disturbance or disobedience, as well as significant natural disasters, may adversely affect our business operations. Hong
Kong is a special administrative region of the PRC and the basic policies of the PRC regarding Hong Kong are reflected in the Basic Law,
namely, Hong Kong's constitutional document, which provides Hong Kong with a high degree of autonomy and executive, legislative
and independent judicial powers, including that of final adjudication under the principle of "one country, two systems". However,
there is no assurance that there will not be any changes in the economic, political and legal environment in Hong Kong in the future.
Since a substantial part of our operations is based in Hong Kong, any change of such political arrangements may pose an immediate threat
to the stability of the economy in Hong Kong, thereby directly and adversely affecting our results of operations and financial position.

 If the PRC attempts to
alter its agreement to allow Hong Kong to function autonomously, this could potentially impact Hong Kong's common law legal system
and may in turn bring about uncertainty in, for example, the enforcement of our contractual rights. This could, in turn, materially and
adversely affect our business and operations. Additionally, intellectual property rights and confidentiality protections in Hong Kong
may not be as effective as in the United States or other countries. Accordingly, we cannot predict the effect of future developments in
the Hong Kong legal system, including the promulgation of new laws, changes to existing laws or the interpretation or enforcement thereof,
or the preemption of local regulations by national laws. These uncertainties could limit the legal protections available to us, including
our ability to enforce our agreements with our customers.

 Our revenue is susceptible
to the ongoing incidents or factors which affect the stability of the social, economic and political conditions in Hong Kong. Any drastic
events may adversely affect our business operations. Such adverse events may include changes in economic conditions and regulatory environment,
social and/or political conditions, civil disturbance or disobedience, as well as significant natural disasters. Given the relatively
small geographical size of Hong Kong, any of such incidents may have a widespread effect on our business operations, which could in turn
adversely and materially affect our business, results of operations and financial condition. It is difficult to predict the full impact
of the HKAA on Hong Kong and companies with operations in Hong Kong like us. Furthermore, legislative or administrative actions in respect
of China-U.S. relations could cause investor uncertainty for affected issuers, including us, and the market price of our shares could
be adversely affected.

 Recent joint statement
by the SEC and the PCAOB, proposed rule changes submitted by Nasdaq, and the newly enacted Holding Foreign Companies Accountable Act all
call for additional and more stringent criteria to be applied to emerging market companies upon assessing the qualification of their auditors,
especially the non-U.S. auditors who are not inspected by the PCAOB. These developments could add uncertainties to the trading of our
common stock on U.S. stock exchanges, including the possibility that our securities can be delisted if the PCAOB cannot inspect or fully
investigate our auditor.

 On April 21, 2020, the
SEC Chairman and PCAOB Chairman, along with other senior SEC staff, released a joint statement highlighting the risks associated with
investing in companies based in or having substantial operations in emerging markets including China. The joint statement emphasized the
risks associated with lack of access for the PCAOB to inspect auditors and audit work papers in China and higher risks of fraud in emerging
markets.

 On May 18, 2020, Nasdaq
filed three proposals with the SEC to (1) apply minimum offering size requirement for companies primarily operating in "Restrictive
Market," (2) adopt a new requirement relating to the qualification of management or board of director for Restrictive Market companies,
and (3) apply additional and more stringent criteria to an applicant or listed company based on the qualifications of the Company's
auditor.

 On June 4, 2020, the
U.S. President issued a memorandum ordering the President's working group on financial markets to submit a report to the President
within 60 days of the date of the memorandum that should include recommendations for actions that can be taken by the executive branch
and by the SEC or PCAOB to enforce U.S. regulatory requirements on Chinese companies listed on U.S. stock exchanges and their audit firms.
However, it remains unclear what further actions, if any, the U.S. executive branch, the SEC, and PCAOB will take to address the problem.

 On August 6, 2020, the
President's working group released a report recommending that the SEC take steps to implement the five recommendations outlined
in the report. In particular, to address companies from jurisdictions that do not provide the PCAOB with sufficient access to fulfill
its statutory mandate, the President's working group recommended enhanced listing standards on U.S. stock exchanges. This would
require, as a condition to initial and continued exchange listing, PCAOB access to the work papers of the principal audit firm for the
audit of the listed company. Companies unable to satisfy this standard as a result of governmental restrictions on access to audit work
papers and practices in their jurisdiction may satisfy this standard by providing a co-audit from an audit firm with comparable resources
and experience where the PCAOB determines it has sufficient access to audit work papers and practices to conduct an appropriate inspection
of the co-audit firm. The report permits the new listing standards to provide for a transition period until January 1, 2022, for listed
companies, but would apply immediately to new listings once the necessary rulemakings and/or standard-setting are effective.

 On August 10, 2020, the
SEC announced that the SEC Chairman had directed the SEC staff to prepare proposals in response to the report of the President's
working group, and that the SEC was soliciting public comments and information with respect to the development of these proposals.

 On May 20, 2020, the
U.S. Senate passed the Holding Foreign Companies Accountable Act, or the Act. The Act was approved by the U.S. House of Representatives
on December 2, 2020. On December 18, 2020, the Act was signed into public law by the President of the United States. In essence, the Act
requires the SEC to prohibit foreign companies from listing securities on U.S. securities exchanges if a company retains a foreign accounting
firm that cannot be inspected by the PCAOB for three consecutive years, beginning in 2021. On March 24, 2021, the SEC announced that it
had adopted interim final amendments to implement congressionally mandated submission and disclosure requirements of the Act. The interim
final amendments will apply to registrants that the SEC identifies as having filed an annual report on Forms 10-K, 20-F, 40-F or N-CSR
with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction and that the PCAOB has determined
it is unable to inspect or investigate completely because of a position taken by an authority in that jurisdiction.

 On June 22, 2021, the
U.S. Senate passed the Accelerating Holding Foreign Companies Accountable Act and on December 29, 2022 the Accelerating Holding Foreign
Companies Accountable Act was enacted, which amended the HFCA Act by requiring the SEC to prohibit an issuer's securities from trading
on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three, thus reducing
the time before our securities may be prohibited from trading or delisted.

 On December 2, 2021,
the SEC adopted amendments to finalize rules implementing the submission and disclosure requirements in the HFCA Act. The rules apply
to registrants that the SEC identifies as having filed an annual report with an audit report issued by a registered public accounting
firm that is located in a foreign jurisdiction and that the PCAOB is unable to inspect or investigate completely because of a position
taken by an authority in a foreign jurisdiction.

 On December 16, 2021,
the PCAOB issued a report on its determinations that it is unable to inspect or investigate completely PCAOB-registered public accounting
firms headquartered in China and in Hong Kong because of positions taken by Mainland China and Hong Kong authorities in those jurisdictions.
The PCAOB has made such designations as mandated under the HFCA Act. Pursuant to each annual determination by the PCAOB, the SEC will,
on an annual basis, identify issuers that have used non-inspected audit firms and thus are at risk of such suspensions in the future.

 On August 26, 2022, the
SEC issued a statement announcing that the PCAOB signed a SOP with the CSRC and the Ministry of Finance of the People's Republic
of China governing inspections and investigations of audit firms based in China and Hong Kong, jointly agreeing on the need for a framework.

 On December 15, 2022,
the PCAOB announced that it has secured complete access to inspect and investigate registered public accounting firms headquartered in
Mainland China and Hong Kong and voted to vacate the previous Determination Report to the contrary.

 Bush & Associates
CPA LLC issued the audit report for our Company for the years ended July 31, 2025 and July 31, 2024. Bush & Associates CPA LLC serves
as an auditor of companies that are traded publicly in the United States and is a firm registered with the PCAOB, is subject to laws in
the United States, pursuant to which the PCAOB conducts regular inspections to assess its compliance with the applicable professional
standards. Bush & Associates CPA LLC is headquartered in Henderson, Nevada and has been inspected by the PCAOB on a regular basis.

 The PCAOB is continuing
to demand complete access in Mainland China and Hong Kong moving forward and is already making plans to resume regular inspections in
early 2023 and beyond, as well as to continue pursuing ongoing investigations and initiate new investigations as needed. The PCAOB has
indicated that it will act immediately to consider the need to issue new determinations with the HFCA Act if needed. If the PCAOB in the
future again determines that it is unable to inspect and investigate completely auditors in Mainland China and Hong Kong, then the companies
audited by those auditors would be subject to a trading prohibition on U.S. markets pursuant to the HFCA Act and/or the AHFCAA. We cannot
assure you that the NASDAQ Capital Market or other regulatory authorities would not apply additional or more stringent criteria to us
after considering the effectiveness of our auditor's audit procedures and quality control procedures, adequacy of personnel and
training, or sufficiency of resources, geographic reach or experience as it relates to the audit of our financial statements.

 Increases in labor
costs in Hong Kong and non-compliance with laws and regulations relating to employment and labor protection may adversely affect the business
of Roshing and our results of operations.

 The economy in Hong Kong has experienced increases
in inflation and labor costs in recent years. As a result, average wages in Hong Kong are expected to continue to increase. We expect
that Roshing's labor costs, including wages and employee benefits, will continue to increase. Unless Roshing is able to control
its labor costs or pass on these increased labor costs to its customers by increasing service fees, our financial condition and operating
results may be adversely affected.

 In addition, where Roshing
employs any employees, it is required by Hong Kong laws and regulations to maintain various statutory employee benefits, including mandatory
provident fund scheme and work-related injury insurance, to provide statutorily required paid sick leave, annual leave and maternity leave,
and make severance payments or long service payments. See "Regulations — Regulations Related to our Business Operation
in Hong Kong — Regulations related to employment and labor protection" for details. The relevant government agencies may
examine whether an employer has complied with such requirements, and those employers who fail to comply commit a criminal offence and
may be subject to fines and/or imprisonment. For example, under the Employees' Compensation Ordinance (Chapter 282 of the Laws of
Hong Kong), an employer who fails to comply with the ordinance to secure an insurance cover commits an offence and is liable on conviction
upon indictment to a maximum fine of HK$100,000 (approximately US$13,000) and imprisonment for two years. Under the Mandatory Provident
Fund Schemes Ordinance (Chapter 485 of the Laws of Hong Kong), an employer who, without reasonable excuse, fails to enroll employees in
an MPF scheme pursuant to the ordinance commits an offence and is liable on conviction to a fine of HK$350,000 (approximately US$45,000)
and to imprisonment for three years. Therefore, failure to comply with applicable laws and regulations concerning employment and labor
protection by Roshing may result in material and adverse effect on Roshing's business, our financial condition and operating results.
As of the date of this Report, we believe that Roshing is in compliance with applicable Hong Kong laws and regulations concerning employment
and labor protection in all material respects.

 You may incur additional
costs and procedural obstacles in effecting service of legal process, enforcing foreign judgments or bringing actions in Hong Kong against
us or its management named in the Report based on Hong Kong laws.

 Currently, all of our
operations are conducted outside the United States, and all of our assets are located outside the United States. Some of our directors
and officers are Hong Kong nationals or residents. You may incur additional costs and procedural obstacles in effecting service of legal
process, enforcing foreign judgments or bringing actions in Hong Kong against us or its management named in this Report. If you want to
enforce a judgment of the United States in Hong Kong, it must be a final judgment conclusive upon the merits of the claim, for a liquidated
amount in a civil matter and not in respect of taxes, fines, penalties, or similar charges, the proceedings in which the judgment was
obtained were not contrary to natural justice, and the enforcement of the judgment is not contrary to public policy of Hong Kong. Such
a judgment must be for a fixed sum and must also come from a "competent" court as determined by the private international
law rules applied by the Hong Kong courts.

 While we believe that we and our subsidiaries
are currently not required to obtain permissions or approvals from Mainland China authorities for our business operations and/or the listing
and offering of our securities, and it is very unlikely that we or our subsidiaries will be required to do so in the future, we cannot
assure you that we or our subsidiaries will be able to obtain all such permissions or approvals if they are nevertheless required.

 The Regulations on Mergers and Acquisitions of
Domestic Companies by Foreign Investors (the "M&A Rules"), adopted by six PRC regulatory agencies in 2006 and amended
in 2009, requires an overseas special purpose vehicle formed for listing purposes through acquisitions of PRC domestic companies and controlled
by PRC companies or individuals to obtain the approval of the CSRC prior to the listing and trading of such special purpose vehicle's
securities on an overseas stock exchange.

 We are also aware that recently, the PRC government
initiated a series of regulatory actions and statements to regulate business operations in certain areas in mainland China with little
advance notice, including cracking down on illegal activities in the securities market, enhancing supervision over mainland-China-based
companies listed overseas using variable interest entity structure, adopting new measures to extend the scope of cybersecurity reviews,
and expanding the efforts in anti-monopoly enforcement. For example, on July 6, 2021, the General Office of the Communist Party of China
Central Committee and the General Office of the State Council jointly issued a document to crack down on illegal activities in the securities
market and promote the high-quality development of the capital market, which, among other things, requires the relevant governmental authorities
to strengthen cross-border oversight of law-enforcement and judicial cooperation, to enhance supervision over mainland-China-based companies
listed overseas, and to establish and improve the system of extraterritorial application of the PRC securities laws.

 On December 28, 2021, the CAC and other PRC authorities
promulgated the Cybersecurity Review Measures, which took effect on February 15, 2022. In addition, the Cybersecurity Law, which was adopted
by the Standing Committee of the National People's Congress on November 7, 2016 and came into force on June 1, 2017, and the Cybersecurity
Review Measures, provide that personal information and important data collected and generated by a critical information infrastructure
operator, or the CIIO, in the course of its operations in Mainland China must be stored in Mainland China, and if a critical information
infrastructure operator purchases internet products and services that affect or may affect national security, it should be subject to
national security review by the CAC together with competent departments of the State Council. In addition, for CIIOs that purchase network-related
products and services, the CIIOs shall declare any network-related product or service that affects or may affect national security to
the Office of Cybersecurity Review of the CAC for cybersecurity review. Due to the lack of further interpretations, the exact scope of
what constitutes a "CIIO" remains unclear. Further, the PRC government authorities may have wide discretion in the interpretation
and enforcement of these laws. In addition, the Cybersecurity Review Measures stipulates that any online platform operators holding more
than one million users/users' individual information shall be subject to cybersecurity review before listing abroad. As of the date
of this Report, we have not received any notice from any authorities identifying us as a CIIO or requiring us to undertake a cybersecurity
review by the CAC. Further, as of the date of this Report, we have not been subject to any penalties, fines, suspensions, investigations
from any competent authorities for violation of the regulations or policies that have been issued by the CAC.

 On June 10, 2021, the Standing Committee of the
National People's Congress promulgated the Data Security Law, which took effect on September 1, 2021. The Data Security Law requires
that data shall not be collected by theft or other illegal means, and it also provides for a data classification and hierarchical protection
system. The data classification and hierarchical protection system protects data according to its importance in economic and social development,
and the damages it may cause to national security, public interests, or the legitimate rights and interests of individuals and organizations
if the data is falsified, damaged, disclosed, illegally obtained or illegally used, which protection system is expected to be built by
the state for data security in the near future. On November 14, 2021, the CAC published the Regulations on the Data Security Administration
Draft, or the Data Security Regulations Draft, to solicit public opinion and comments. Under the Data Security Regulations Draft, an overseas
initial public offering to be conducted by a data processor processing the personal information of more than one million individuals shall
apply for a cybersecurity review. Data processor means an individual or organization that independently makes decisions on the purpose
and manner of processing in data processing activities, and data processing activities refers to activities such as the collection, retention,
use, processing, transmission, provision, disclosure, or deletion of data. Currently we do not expect the Cybersecurity Review Measures
to have an impact on the business and operations of our Hong Kong operating subsidiary, Roshing, because (i) Roshing is incorporated and
primarily operating in Hong Kong without any subsidiary or VIE structure in Mainland China; and (ii) Roshing was not informed by any PRC
governmental authority of any requirement that it file for a cybersecurity review in connection with its recent public offering. Based
on laws and regulations currently in effect in the PRC as of the date of this Report, we believe Roshing is not required to pass the cybersecurity
review of the CAC in order to list our common stock in the U.S.

 In addition, on December 24, 2021, the CSRC issued
the Administrative Provisions of the State Council Regarding the Overseas Issuance and Listing of Securities by Domestic Enterprises (the
"Draft Administrative Provisions") and the Measures for the Overseas Issuance of Securities and Listing Record-Filings by
Domestic Enterprises (Draft for Comments) (the "Draft Filing Measures"), collectively, the Draft Rules Regarding Overseas
Listings. The Draft Rules Regarding Overseas Listing aim to lay out the filing regulation arrangement for both direct and indirect overseas
listing and clarify the determination criteria for indirect overseas listing in overseas markets. According to the Draft Rules Regarding
Overseas Listings, among other things, after making initial applications with overseas stock markets for initial public offerings or listings,
all Mainland-China-based companies shall file with the CSRC within three working days.

 On February 17, 2023, the CSRC promulgated the
Trial Administrative Measures of Overseas Securities Offering and Listing by Domestic Companies (the "Trial Measures"), which
took effect on March 31, 2023. Compared to the Draft Filing Measures, the Trial Measures further clarified and emphasized that the comprehensive
determination of the "indirect overseas offering and listing by PRC domestic companies" shall comply with the principle of
"substance over form" and particularly, an issuer will be required to go through the filing procedures under the Trial Measures
if the following criteria are met at the same time: a) 50% or more of the issuer's operating revenue, total profits, total assets
or net assets as documented in its audited consolidated financial statements for the most recent accounting year are accounted for by
PRC domestic companies, and b) the main parts of the issuer's business activities are conducted in Mainland China, or its main places
of business are located in Mainland China, or the majority of senior managers in charge of its business operation and management are Chinese
citizens or domiciled in mainland China. Furthermore, the Trial Measures and its supporting guidelines provide a negative list of types
of issuers banned from listing overseas, the issuers' obligation to comply with national security measures and the personal data
protection laws, and certain other matters such as the requirements that an issuer (i) file with the CSRC within three business days after
it submits an application for initial public offering to the competent overseas regulator and (ii) file subsequent reports with the CSRC
on material events, including change of control and voluntary or forced delisting, after its overseas offering and listing.

 As the Trial Measures are newly issued, there
remains uncertainty as to how it will be interpreted or implemented. Therefore, we cannot assure you that when the Company is subject
to such filing requirements, we will be able to get clearance from the CSRC in a timely manner, or at all, even though we believe that
none of the situations that would clearly prohibit overseas listing and offering applies to us. Based on laws and regulations currently
in effect in the PRC as of the date of this Report, we believe we are not required to obtain regulatory approval from the CSRC or go through
the filing procedures under the Trial Measures before our common stock can be listed or offered in the U.S. because a) we do not, directly
or indirectly, own or control any entity or subsidiary in Mainland China, and b) none of our business activities are conducted in Mainland
China, and our main places of business are not located in Mainland China, and the majority of senior managers in charge of our business
operation and management are Hong Kong citizens and domiciled in Hong Kong.

 Since these proposed rules, statements and regulatory
actions are new, it is highly uncertain how soon the legislative or administrative regulation making bodies will respond and what existing
or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. Any failure of us
to fully comply with new regulatory requirements may significantly limit or completely hinder our ability to offer or continue to offer
common stock, cause significant disruption to our business operations, severely damage our reputation, materially and adversely affect
our financial condition and results of operations, and cause the common stock to significantly decline in value or become worthless.

 As of the date of this Report, on the basis that
(i) we are a Nevada company and our only operating subsidiary, Roshing, is a Hong Kong company and is headquartered in Hong Kong, neither
entity has operations in Mainland China; (ii) we do not, directly or indirectly, own or control any entity or subsidiary in Mainland China,
nor are us controlled by any Mainland Chinese company or individual directly or indirectly; (iii) we currently do not have or intend to
set up any subsidiary or enter into any contractual arrangements to establish a VIE structure with any entity in Mainland China; (iv)
only few of Roshing's customers are Mainland China residents, which contributed 0.4% and nil of our revenue for the years ended
July 31, 2024 and 2025, respectively; (v) the majority of our senior managers in charge of the Company's business operation and
management are Hong Kong nationals and domiciled in Hong Kong; and (vi) all of Roshing's employees are Hong Kong residents, it is
our opinion that we and our subsidiaries are not required to obtain any permissions or approvals from the Mainland China authorities,
including but not limited to the CSRC, to operate Roshing's business or to list our securities on the U.S. exchanges and offer securities,
including but not limited to issuing our common stock to foreign investors. We and our subsidiaries have not applied for, or been denied
of any such permissions or approvals from the authorities of Mainland China. In addition, it is our opinion that we are not subject to
the cybersecurity review by the CAC over data security and our offerings because we are a Nevada company and our only operating subsidiary
is a Hong Kong company, and neither entity has operations in Mainland China.

 Further, we expect that our and our subsidiaries'
operations will continue to be conducted in Hong Kong, as is the case as of the date of this Report. Therefore, we believe that the chance
that we and our subsidiaries will be required to obtain any permissions or approvals from the governmental authorities of Mainland China
for our operations, or the listing of our securities on the U.S. exchanges and the offering of our securities in the future is very remote.
If (i) we and our subsidiaries do not receive or maintain such permissions or approvals, should such approvals be required in the future
by the PRC government, (ii) we and our subsidiaries inadvertently conclude that such permissions or approvals are not required, or (iii)
applicable laws, regulations, or interpretations change and we are required to obtain such permissions or approvals in the future, our
operations and financial condition could be materially adversely affected, and our ability to offer securities to investors could be significantly
limited or completely hindered and the securities currently outstanding may substantially decline in value and become worthless. Consequently,
our operations and financial condition could be materially adversely affected, and our ability to offer securities to investors could
be significantly limited or completely hindered and the securities currently being offered may substantially decline in value and become
worthless.

 Since these statements and regulatory actions
are new, it is highly uncertain how soon the legislative or administrative regulation making bodies will respond and what existing or
new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. It is also highly uncertain
what potential impact such modified or new laws and regulations will have on our daily business operations, its ability to accept foreign
investments and the listing of our common stock on a U.S. or other foreign exchanges. If there is significant change to current political
arrangements between Mainland China and Hong Kong, the PRC government intervenes or influences operations of companies operated in Hong
Kong like us, or exerts more control through change of laws and regulations over offerings conducted overseas and/or foreign investment
in issuers like us, it may result in a material change in our operations and/or the value of the securities we are registering for sale
or could significantly limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value
of our common stock to significantly decline or become worthless.

 Risks Related to Taxation

 Non-compliance with tax obligations
may adversely affect our business and operation results.

 On June 5, 2023, the
United States Internal Revenue Service ("IRS") issued a notice letter imposing penalties for failure to provide information
concerning certain foreign-owned U.S. Corporations for the tax period ending July 31, 2021, totaling $25,000. We promptly submitted a
request for penalty abatement within 30 days of receiving the notice, asserting that the late filing was not due to willful neglect. However,
as of now, we have not received any final decision from the IRS regarding their intended course of action. The total amount due now stands
at $26,426.55, inclusive of accrued interest and penalties calculated up to February 26, 2022. On April 25, 2024, the Company paid the
total amount of $26,854.68 to IRS by check.

 On
March 11, 2024, the Company received a new notice letter with the IRS issued a notice imposing penalties for failure to file form
5471 under Internal Revenue Code Section 6038. The penalty amounts due by April 1, 2024, is $20,000. On
April 22, 2024, the Company received another notice from IRS of the intent of levy the company's property or rights to property
for the Company's failure to pay the penalty. The total penalty due now stands at $20,184.43, inclusive of accrued interest
and penalties calculated up to April 22, 2024. On April 22, 2024, we promptly submitted a
request for penalty abatement within 30 days of receiving the notice, asserting that the late filing was not due to willful neglect.

 On
May 10, 2024, the company paid $20,184.43 by check to IRS for the tax period ending July 31, 2023.

 All late filings were
due to two main factors: a) the impact of the epidemic, resulting in our failure to report in a timely manner and subsequent payment of
fines. We have settled the fines, but we require details regarding the date, amount, and reasons for any new penalties arising from delayed
tax payments. b) The change of ownership in August 2021 led to numerous unresolved matters, compounded by various obstacles encountered
during the pandemic.

 Up to May 10, 2024, we
have successfully filed tax returns for the years 2020 to 2022 and have duly remitted the two fines along with accrued interest via check.
The amount owed, encompassing principal and interest, was ascertained and settled upon the submission of the Report. In our future operations,
we will aim to pay taxes on time and as required. However, we cannot guarantee that the Company won't make tax payment errors in
the future, which could affect our operations.

 A change in tax
laws in any country in which we operate or loss of a major tax dispute or a successful tax challenge to our operating structure, intercompany
pricing policies or the taxable presence of our subsidiaries in certain countries could adversely affect us.

 Tax laws, treaties and regulations are highly
complex and subject to interpretation. Consequently, we and our subsidiaries are subject to changing laws, treaties and regulations in
and between the countries in which we operate. Our tax expense is based on our interpretation of the tax laws in effect at the time the
expense was incurred. A change in tax laws, treaties or regulations, or in the interpretation thereof, could result in a materially higher
tax expense or a higher effective tax rate on our earnings.

 In addition, if any tax authority successfully
challenges positions we may take in tax filings, our operational structure, intercompany pricing policies, the taxable presence of our
subsidiaries in certain countries or any other situation, or if the terms of certain income tax treaties are interpreted in a manner that
is adverse to our structure, or if we lose a material tax dispute in any country, our effective tax rate on our worldwide earnings could
increase substantially and our earnings and cash flows from operations could be materially adversely affected.

 Risks Related to Our
Common Stock

 An active, liquid,
and orderly market for our common stock may not develop.

 Our common stock is now
listed for trade on Nasdaq Capital Market. The trading market for our common stock will depend in part on the research and reports that
securities or industry analysts publish about us or our business. Several analysts may cover our stock. If one or more of those analysts
downgrade our stock or publish inaccurate or unfavorable research about our business, our stock price would likely decline. If one or
more of these analysts cease coverage of our Company or fail to publish reports on us regularly, demand for our stock could decrease,
which might cause our stock price and trading volume to decline. An active trading market for our common stock may never develop or be
sustained. If an active market for our common stock does not continue to develop or is not sustained, it may be difficult for investors
to sell their shares of common stock without depressing the market price and investors may not be able to sell their securities at all.
An inactive market may also impair our ability to raise capital by selling our securities and may impair our ability to acquire other
businesses, applications, or technologies using our securities as consideration, which, in turn, could materially adversely affect our
business and the market prices of your shares of common stock.

 Our articles of incorporation allow our
board to create a new series of preferred stock without further approval by our Stockholders, which could adversely affect the rights
of the holders of our common stock.

 Our board of directors has the authority to fix
and determine the relative rights and preferences of preferred stock. Our board of directors has the authority to issue up to 80,000 shares
of Series A Preferred Stock and 20,000,000 shares of undesignated preferred stock. The Board of Directors has the authority,
without stockholder approval, to amend the Company's Articles of Incorporation to divide the class of undesignated Preferred Stock
into series, and to determine the relative rights and preferences of the shares of each series, including (i) voting power, (ii)
the rate of dividend, (iii) the price at which, and the terms and conditions on which, the shares may be redeemed, (iv) the amount
payable upon the shares in the event of liquidation, (v) any sinking fund provision for the redemption or purchase of the shares, and
(vi) the terms and conditions on which the shares may be converted to shares of another series or class, if the shares of any series
are issued with the privilege of conversion, which could decrease the relative voting power of our common stock or result in dilution
to our existing Stockholders.

 On January
27, 2023, Tianci sold 80,000 shares of its Series A Preferred Stock to RQS Capital for $24,000 cash. On January 19, 2024,
the Company issued 8,000,000 shares of its common stock to RQS Capital. The shares were issued upon RQS Capital's exercise of its
right to convert 80,000 shares of Tianci's Series A Preferred Stock into 8,000,000 shares of common stock.

 On April 24, 2024, Tianci sold 80,000 shares of
Series B Preferred Stock to RQS Capital. The shares were sold for a cash payment of $80,000. Each share of Series B Preferred Stock may
be converted by the holder of the share into 100 shares of common stock, subject to equitable adjustment of the conversion rate. As of
the date of this Report, none of the shares of Series B Preferred Stock have been converted.

 Although we have no present intention to issue
any additional shares of preferred stock or to create any additional series of preferred stock, we may issue such shares in the future.

 The trading price
of our common stock is likely to be volatile, which could result in substantial losses to investors.

 The trading price of
our common stock is likely to be volatile and could fluctuate widely due to factors beyond our control. This may happen because of broad
market and industry factors, including the performance and fluctuation of the market prices of other companies with business operations
located outside of the United States that have listed their securities in the United States. In addition to market and industry factors,
the price and trading volume for our common stock may be highly volatile for factors specific to our own operations, including the following:

 variations in our revenues, earnings and cash flow;

 announcements of new investments, acquisitions, strategic partnerships or joint ventures by us or our competitors;

 announcements of new offerings, solutions and expansions by us or our competitors;

 detrimental adverse publicity about us, our brand, our services or our industry;

 additions or departures of key personnel; and

 potential litigation or regulatory investigations.

 Any of these factors
may result in large and sudden changes in the volume and price at which our common stock will trade.

 In the past, stockholders
of public companies have often brought securities class action suits against those companies following periods of instability in the market
price of their securities. If we were involved in a class action suit, it could divert a significant amount of our management's
attention and other resources from our business and operations and require us to incur significant expenses to defend the suit, which
could harm our results of operations. Any such class action suit, whether or not successful, could harm our reputation and restrict our
ability to raise capital in the future. In addition, if a claim is successfully made against us, we may be required to pay significant
damages, which could have a material adverse effect on our financial condition and results of operations.

 Short sellers of
our stock may be manipulative and may drive down the market price of our common stock.

 Short selling is the
practice of selling securities that the seller does not own but rather has borrowed or intends to borrow from a third party with the intention
of buying identical securities at a later date to return them to the lender. A short seller hopes to profit from a decline in the value
of the securities between the sale of the borrowed securities and the purchase of the replacement shares, as the short seller expects
to pay less in that purchase than it received in the sale. As it is therefore in the short seller's interest for the price of the
stock to decline, some short sellers publish, or arrange for the publication of, opinions or characterizations regarding the relevant
issuer, its business prospects and similar matters calculated to or which may create negative market momentum, which may permit them to
obtain profits for themselves as a result of selling the stock short. Issuers whose securities have historically had limited trading volumes
and/or have been susceptible to relatively high volatility levels can be particularly vulnerable to such short seller attacks.

 The publication of any
such commentary regarding us by a short seller may bring about a temporary, or possibly long term, decline in the market price of our
common stock. No assurance can be made that we will not become a target of such commentary and declines in the market price of our common
stock will not occur in the future, in connection with such commentary by short sellers or otherwise.

 As we do not expect
to pay dividends in the foreseeable future, you must rely on a price appreciation of our common stock for return on your investment.

 We currently intend to
retain most, if not all, of our available funds and any future earnings to fund the development and growth of our business. As a result,
we do not expect to pay any cash dividends in the foreseeable future. Therefore, you should not rely on an investment in our common stock
as a source for any future dividend income.

 Our board of directors
has complete discretion as to whether to distribute dividends. Even if our board of directors decides to declare and pay dividends, the
timing, amount and form of future dividends, if any, will depend on our future results of operations and cash flow, our capital requirements
and surplus, the amount of distributions, if any, received by us from our subsidiaries, our financial condition, contractual restrictions
and other factors deemed relevant by our board of directors. Accordingly, the return on your investment in our common stock will likely
depend entirely upon any future price appreciation of our common stock. There is no guarantee that our common stock will appreciate in
value, or even maintain the price at which you purchased the common stock. You may not realize a return on your investment in our common
stock and you may even lose your entire investment in our common stock.

 Our CEO beneficially owns the majority
of our outstanding stock and, accordingly, will have control over stockholder matters, the Company's business and management.

 Shufang Gao, the Chief
Executive Officer of Tianci, through his 60% holding in RQS Capital, together with common stock owned by himself, controls securities
with 57.7% of the voting power in Tianci. As a result, Mr. Gao will have the ability to:

 Elect or defeat the election of our directors;

 Amend or prevent amendment of our articles of incorporation or bylaws;

 Effect or prevent a merger, sale of assets or other corporate transaction; and

 Affect the outcome of any other matter submitted to the Stockholders for vote.

 Moreover, because of
the significant ownership position held by Mr. Gao, new investors will not be able to effect a change in the Company's business
or management, and therefore, stockholders would be subject to decisions made by management and the majority stockholder.

 In addition, Management's
stock ownership may discourage a potential acquirer from making a tender offer or otherwise attempting to obtain control over us, which
in turn could reduce our stock price or prevent our Stockholders from realizing a premium over our stock price.

 The sale of securities by us in any
equity or debt financing could result in dilution to our existing Stockholders.

 Our Board of Directors
is authorized to issue up to 100,000,000 shares of common stock, up to 80,000 shares of Series A Preferred stock, up to 80,000 shares
of Series B Preferred stock, and up to 19,920,000 shares of undesignated preferred stock. Of those shares, approximately
103,048,197 shares remain available for issuance. Our Board of Directors will continue to have the authority to issue additional
shares of common stock without consent of any of our stockholders, unless stockholder 's
approval is required under law or under Nasdaq Rule 5635 which, among other things, requires stockholder approval for change of control
transactions where a stockholder acquires 20% of a Nasdaq-listed company's common stock or securities convertible into common stock,
calculated on a post-transaction basis. If our management determines to issue shares of our common stock from the large pool of authorized
but unissued shares for any purpose in the future and is not required to obtain stockholder approval, your ownership position would be
diluted without your further ability to vote on that transaction. In addition, our Articles of Incorporation provide that the Board
can designate the voting rights, liquidation rights, dividend rights and other rights of holders of the preferred stock. The Board, therefore,
could use the Preferred Stock to give an investor group disproportionate voting rights or priority over the common stock in the allocation
of benefits from the operations of Roshing, including preferential dividends. The Board could also use the Preferred Stock to create a
poison pill to prevent a takeover of Tianci that might be considered beneficial by the common stockholders.

 Any sale of common stock
by us in a future private placement offering could result in dilution to the existing Stockholders as a direct result of our issuance
of additional shares of our capital stock. In addition, our business strategy may include expansion through internal growth by acquiring
complementary businesses, acquiring, or establishing strategic relationships with targeted customers and suppliers. In order to do so,
or to finance the cost of our other activities, we may issue additional equity securities that could dilute our Stockholders' stock
ownership. We may also assume additional debt and incur impairment losses related to goodwill and other tangible assets, and this could
negatively impact our earnings and results of operations.

 We may not be able to satisfy the continued
listing requirements of Nasdaq to maintain a listing of our common stock.

 We must meet certain financial and liquidity criteria
to maintain the listing of our common stock on Nasdaq. If we violate the maintenance requirements for continued listing of our common
stock, our common stock may be delisted. In addition, our Board may determine that the cost of maintaining our listing on a national securities
exchange outweighs the benefits of such listing. A delisting of our common stock from Nasdaq may materially impair our Stockholders'
ability to buy and sell our common stock and could have an adverse effect on the market price of, and the efficiency of the trading market
for, our common stock. In addition, the delisting of our common stock could significantly impair our ability to raise capital.

 We may require
additional capital to support growth, and such capital might not be available on terms acceptable to us, if at all. This could hamper
our growth and adversely affect our business.

 We intend to continue
to make investments to support our business growth and may require additional funds to respond to business challenges, including the need
to enhance our products and services, improve our operating infrastructure or acquire complementary businesses and technologies. Accordingly,
we may need to engage in public or private equity, equity-linked or debt financing to secure additional funds. If we raise additional
funds through future issuances of equity or convertible debt securities, our existing stockholders could suffer significant dilution,
and any new equity securities we issue could have rights, preferences and privileges superior to those of holders of our common stock.
Any debt financing that we secure in the future could involve restrictive covenants relating to our capital raising activities and other
financial and operational matters, including the ability to pay dividends. This may make it more difficult for us to obtain additional
capital and to pursue business opportunities, including potential acquisitions. We may not be able to obtain additional financing on terms
favorable to us, if at all. If we are unable to obtain adequate financing on terms satisfactory to us when we require it, our ability
to continue to support our business growth and respond to business challenges could be significantly impaired, and our business could
be adversely affected.

 Item 1B. Unresolved Staff Comments

 Not applicable.

 Item 1C. Cybersecurity

 Cybersecurity: Risk Management and Strategy

 We have developed and implemented a cybersecurity
risk management program that is designed to protect the confidentiality, integrity, and availability of the Company's data and systems.
Our cybersecurity risk management program includes a cybersecurity incident response plan.

 Our cybersecurity risk management program is integrated
into our overall enterprise risk management program, and shares common methodologies, reporting channels and governance processes that
apply across the enterprise risk management program to other legal, compliance, strategic, operational, and financial risk areas.

 Our cybersecurity risk management program includes:

 A risk assessment process designed to help identify material cybersecurity risks to our critical systems, information, services, and our broader enterprise IT environment;

 A security team principally responsible for managing (1) our cybersecurity risk assessment processes, (2) our security controls, and (3) our response to cybersecurity incidents;

 The use of external service providers, where appropriate, to assess, test or otherwise assist with aspects of our security controls;

 Cybersecurity awareness training of our employees, incident response personnel, and senior management; and

 A cybersecurity incident response plan that includes procedures for responding to cybersecurity incidents.

 Additionally, the Company assesses and manages
cybersecurity threats associated with its third party service providers' information technology systems that could compromise the
Company's information security or data. Identified cybersecurity threats are communicated to management for review, response and
mitigation as appropriate.

 As of the date of this filing, we have not identified
risks from known cybersecurity threats, including as a result of any prior cybersecurity incidents, that have materially affected us,
including our operations, business strategy, results of operations, or financial condition. We face risks from cybersecurity threats that,
if realized, are likely to materially affect us, including our operations, business strategy, results of operations, or financial condition.

 Cybersecurity: Governance

 Our Board of Directors considers cybersecurity
risk within the Board's risk oversight function. The board of directors has charged management with responsibility for oversight
of cybersecurity risks and incidents and any other risks and incidents relevant to the Company's computerized information system
controls and security. The Board and its Audit Committee oversee management's implementation of our cybersecurity risk management
program.

 Our Corporate Controller reviews the efficacy of
our cybersecurity program from time to time as circumstances make appropriate and annually in connection with the annual audit of the
Company's financial statements. Our Corporate Controller renders to the auditor a written report regarding IT general controls,
including cybersecurity systems, risk assessment and monitoring practices. The auditor reviews the report in connection with its assessment
of the Company's internal controls over financial reporting, and advises Company management if the report reveals flaws in the Company's
internal controls. Copies of the Corporate Controller's report are also given to the CEO/CFO and made available to members of the
Board of Directors. Copies of the auditor's report are delivered to the members of the Board of Directors, which reviews and is
responsible to cause a remediation of any material inadequacies in the controls environment.

 Our Corporate Controller reports to our CEO/CFO
on matters of cybersecurity, and together they carry responsibility for our overall cybersecurity risk management program. Our CEO/CFO
provides prompt reports to the Board regarding cybersecurity risks and incidents as they are revealed, as well as periodic reports, as
appropriate, regarding the Company's cybersecurity program.

 Item 2. Properties

 Our principal executive office is located at Unit
1109, Lippo Sun Plaza, 28 Canton Road, Tsim Sha Tsui, Kowloon, Hong Kong, covering a total area of approximately 1,200 square feet. The
premises are provided by a third-party pursuant to an office rental service agreement and the service term expires in June 2027. After
that, we intend to renew the service term. The office meets the office space needs of all of our business segments.

 Management believes the real property leased by
Roshing will be adequate for its operations for the foreseeable future.

 Item 3. Legal Proceedings

 Neither Tianci International nor any of its subsidiaries
is party to material pending legal proceedings.

 Item 4. Mine Safety Disclosures

 Not Applicable.

 Item 5. Market For Registrant's Common Equity, Related Stockholder
Matters And Issuer Purchases Of Equity Securities

 (a) Market Information

 The Company's common stock is quoted on the
Nasdaq Capital Market under the symbol "CIIT".

 The Company's common stock is thinly traded.
The quoted bid and asked prices for the Common Stock vary significantly from week to week. An investor holding shares of the Company's
Common Stock may find it difficult to sell the shares and may find it impossible to sell more than a small number of shares at the quoted
bid price.

 (b) Shareholders

 Our shareholders list contains
the names of 127 stockholders of record of the Company's Common Stock.

 (c) Dividends

 Any future decisions regarding dividends will be
made by our board of directors. We currently intend to retain and use any future earnings for the development and expansion of our business
and do not anticipate paying any cash dividends in the foreseeable future. Our board of directors has complete discretion on whether to
pay dividends, subject to the approval of our stockholders. Even if our board of directors decides to pay dividends, the form, frequency
and amount will depend upon our future operations and earnings, capital requirements and surplus, general financial condition, contractual
restrictions and other factors that the board of directors may deem relevant.

 (d) Securities Authorized for Issuance Under
Equity Compensation Plans

 The information set forth in the table below regarding
equity compensation plans (which include individual compensation arrangements) was determined as of July 31, 2025.

 Number of securities to be issued upon exercise of outstanding
 options, warrants and rights

 Weighted average exercise price of outstanding options, warrants
 and rights

 Number of securities remaining available for future issuance under
 equity compensation plans

 Equity compensation plans approved by security holders

 N.A.

 7,000,000

 (1)

 Equity compensation plans not approved by security holders

 N.A.

 Total

 N.A.

 7,000,000

 ___________________________

 (1) In
2024 the Board of Directors adopted the 2024 Equity Incentive Plan. The Plan authorized the Board to issue up to 7,000,000 common shares
during the ten year period of the Plan. The shares may be awarded to employees or directors of Tianci International, Inc. or its subsidiaries
as well as to consultants to those entities. The shares may be awarded as outright grants or in the form of options, restricted stock,
performance shares, deferred stock units or stock appreciation rights. 7,000,000 shares remain available for issuance under the plan.

 (e) Sale of Unregistered Securities

 The Company did not make any sale of unregistered
securities during the 4 th quarter of fiscal year 2025.

 (f) Repurchase of Equity Securities

 The Company did not repurchase any shares of its
common stock during the 4 th quarter of fiscal year 2025.

 Item 6. Climate – Related Disclosure

 Not applicable.

 Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations

 The following discussion
and analysis should be read in conjunction with our financial statements and the related notes thereto. The management's discussion
and analysis contain forward-looking statements, such as statements of our plans, objectives, expectations, and intentions. Any statements
that are not statements of historical fact are forward-looking statements. When used, the words "believe," "plan,"
"intend," "anticipate," "target," "estimate," "expect" and the like, and/or
future tense or conditional constructions ("will," "may," "could," "should," etc.), or
similar expressions, identify certain of these forward-looking statements. These forward-looking statements are subject to risks and uncertainties,
including those under "Risk Factors," that could cause actual results or events to differ materially from those expressed
or implied by the forward-looking statements. Our actual results and the timing of events could differ materially from those anticipated
in these forward-looking statements as a result of several factors. We do not undertake any obligation to update forward-looking statements
to reflect events or circumstances occurring after the date of this Report.

 Overview

 On March 3, 2023, we
acquired ownership of RQS United Group Limited, a company organized under the laws of the Republic of Seychelles ("RQS United"),
pursuant to the Share Exchange Agreement dated March 3, 2023 among the Company, RQS United and RQS Capital Limited, the prior owner of
RQS United.

 RQS United is a holding
company incorporated in the Republic of Seychelles. RQS United has no operations other than holding 90% of the outstanding share capital
of its subsidiary, Roshing International Co., Limited, a company organized under the laws of Hong Kong ("Roshing"). Roshing
was incorporated on June 22, 2011 and is primarily engaged in logistics solutions, including shipping operation management. We also generate
a small portion of our revenue from our non-core businesses that we carry on through Roshing, including software development services,
consulting services, and the sale of electronic parts.

 Our primary line of business
is global shipping logistics. The Company, through its subsidiary, Roshing, provides global logistics services, encompassing booking,
the transportation arrangement, and related logistics solutions. Roshing's customized logistics solutions are tailored to meet the
diverse needs of its customers.

 For the container shipping
service, Roshing charters cargo space from shipping suppliers (such as shipowners, ship carriers or non-vessel operating common carriers)
and then sub-charters that space to its customers (cargo owners or cargo agents). For the bulk goods shipping service, Roshing issues
fixture notes to customers, and then arranges the booking of ships, and signs chartering contracts with suppliers (such as shipowners).
Roshing also tailors the selection of transport options, and arranges to transport the goods from the port of loading to the port of destination,
so as to complete the performance of the contract.

 Roshing currently does
not own or operate any transportation assets. By leveraging our senior management's expertise in the global logistics industry and
adopting an asset-light strategy at the early stage, Roshing has seen a significant growth in logistics revenue since 2023. Shufang Gao,
our Chief Executive Officer, previously worked for a globally renowned shipping conglomerate, acquiring over 20 years of management experience.
His expertise spans shipping operation management and logistics transportation. Leveraging this experience, he has provided the Company
with the managerial framework to expand its global logistics business, as well as access to relevant customer and supplier resources in
the shipping industry. Roshing's business is primarily carried out in Hong Kong and other locations in the Asia-Pacific region,
mainly in Japan, South Korea and Vietnam. Roshing's logistics services also include the shipment of goods to African countries.

 Roshing also generates
a small portion of its revenue from the sale of electronic parts, and certain business and technical consulting services, independent
from its global logistics business.

 During 2025, we prepared
the Company to expand into global trade of bulk chrome and manganese ore by sourcing high-grade minerals directly from resource-rich regions
and building up inventory. We intend to utilize optimized bulk vessel and container shipping, and provide end-to-end supply chain solutions
for metallurgical and steelmaking customers. The introduction of the mineral trade business is expected to generate operational and strategic
synergies with our existing logistics business lines, enhancing overall efficiency and value creation.

 On April 11, 2025, we
completed a $7 million initial public offering and became a listed company on Nasdaq.

 Key factors that
affect operating results

 Our performance of operations
and financial conditions have been, and are expected to continue to be, affected by a multitude of factors. Among the significant factors
are:

 Economic Conditions
in Hong Kong. We are a Nevada company with operations conducted by our subsidiary Roshing, which is based in Hong Kong. Accordingly,
if Hong Kong experiences any adverse economic, political or regulatory conditions, such as local economic downturn, natural disasters,
contagious disease outbreaks, terrorist attacks, or if the government adopts regulations that place restrictions or burdens on us or on
our industry in general, our business, financial condition, results of operations and prospects may be materially and adversely affected.

 International Trade
Environment. The demand for our shipping operation services is driven by the levels of international trade, which is in turn affected
by global political, economic and social conditions. Any changes in a particular country's trade policy could trigger retaliatory
actions by affected countries, potentially eventually resulting in a trade war, which could increase the cost of goods and thus reduce
customer demand for products if the parties have to pay tariffs which increase their prices or if trading partners limit their trade with
the particular country. Our business is also susceptible to downturns and disruptions in the business activities of our direct customers
that are beyond our control. If sales in a particular geographical market in which our direct customers operate decline, due to unstable
regional and/or global political and economic conditions, such decline will likely lead to a corresponding plunge in the international
trade volume which, in turn, could reduce the demand for freight forward services and adversely affect our results of operations.

 Our Ability to Source
Cargo Space from Vendors on a Cost-Efficient Manner. A significant portion of our cost of revenue is the fees that we pay to our vendors.
As a result, our results of operation depend on our ability to source vendors in a cost-efficient manner by obtaining a favorable price
and effectively controlling the cost.

 Results of Operation

 Comparison of the
years ended July 31, 2025 and 2024

 For
 the Years Ended

 Change

 2025

 2024

 Change

 Percentage

 Revenues

 $

 $

 $

 665,732

 8%

 Cost of Revenues

 8,832,874

 7,562,086

 1,270,788

 17%

 Gross profit

 450,123

 1,055,179

 (605,056)

 (57%

)

 Selling and marketing

 230,778

 365,992

 (135,214)

 (37%

)

 General and administrative

 2,927,260

 520,884

 2,406,376

 462%

 (Loss) income from operations

 (2,707,915)

 168,303

 (2,876,218)

 (1709%

)

 Other (expense)

 27,391

 (22,077

)

 49,468

 (224%

)

 Provision for (benefit from) income taxes

 5,833

 (30,073)

 (84%

)

 Net (loss) income

 (2,686,357)

 110,320

 (2,796,677)

 (2535%

)

 Less: net income attributable to non-controlling interest

 (45,568)

 55,870

 (101,438)

 (182%

)

 Net (loss) income attributable to Tianci

 $

 (2,640,789)

 $

 $

 (2,695,239)

 (4950%

)

 Revenues

 Our total revenue
increased by 8%, or $665,732, to $9,282,997 for the year ended July 31, 2025, from $8,617,265 for the year ended July 31, 2024. The increase
was primarily attributable to an increasing customer base, especially the number of high-paying customers that each contributed more than
$100,000 in this period.

 As we pivoted to the
logistics service business, our revenue streams for the years ended July 31,2025 and 2024 are categorized as follows: the logistics service
revenue represented 97% of our total revenue in both of the years ended July 31, 2025 and 2024. We believe this trend will continue as
we keep growing our logistics business line, and the proportion of our historical product and other services revenue is likely to keep
decreasing.

 For the Years Ended

 2025

 2024

 Global Logistics Service Revenue

 $
 9,006,407

 $
 8,320,402

 Product Revenue

 –

 103,382

 Other Service Revenue

 276,590

 193,481

 Total

 $

 $

 Cost of Revenues

 Our cost of revenues
from our revenue categories are summarized as follows:

 For the Years Ended

 2025

 2024

 Cost of Global Logistics Service

 $
 8,652,742

 $
 7,432,806

 Cost of Product

 –

 87,088

 Cost of Other Service

 180,132

 42,192

 Total

 $
 8,832,874

 $
 7,562,086

 Our cost of revenues
from global logistics services represented 98% of total cost of revenues during both of the years ended July 31, 2025 and 2024. Cost of
global logistics services primarily includes cargo space charged by direct ocean carriers, freight forwarders and ancillary logistics
services fees.

 Total cost of revenue
increased by 17% from $7,562,086 to $8,832,874 for the year ended July 31, 2025. The change was in line with changes in revenue in each
period. However, the rate of cost increase has outpaced that of revenue in the same period as we continue to experience growing costs
from our logistics vendors but kept our service price to our customers relatively stable.

 Gross Profit

 Our gross profits from
each of our revenue categories are summarized as follows:

 Margins

 For the Years Ended

 2025

 2024

 Global Logistics Service

 Gross Profit Margin

 $
 353,665

 $
 887,596

 Gross Profit Percentage

 3.93%

 10.67%

 Hardware Product Sales

 Gross Profit Margin

 $
 –

 $
 16,294

 Gross Profit Percentage

 –

 15.76%

 Other Services

 Gross Profit Margin

 $
 96,458

 $
 151,289

 Gross Profit Percentage

 34.87%

 78.19%

 Total

 Gross Profit Margin

 $
 450,123

 $
 1,055,179

 Gross Profit Percentage

 4.85%

 12.24%

 Our gross profit decreased
from $1,055,179 to $450,123 for the year ended July 31, 2025. The decrease in gross profit was primarily attributable to a higher growth
rate on logistics costs as compared to the growth rate on logistics revenue as we continue to experience rising logistics costs while
our service price remains relatively stable. For the year ended July 31, 2025, our overall gross profit margin was 4.85%, a decrease from
gross profit margin of 12.24% for the year ended July 31, 2024. We are currently adopting a customer-friendly pricing strategy to build
up our market share quickly. As we continue to grow, we plan to further diversify our service region to include long-distance shipping
lines, which generally produce higher profit margins as compared to short-distance shipping lines within East Asia. Our negotiation power
over service vendors would also grow as our business grows, and vice versa. In 2025, we have prepared for an expansion into the global
trade of bulk chrome and manganese ore, marking our entry into the global commodity trading arena. Leveraging our core resource control
capabilities and supply chain integration strengths, this business is expected to gradually become a new profit driver for the company.

 Operating Expenses

 There was a significant
increase in operating expenses in the year ended July 31, 2025 as compared to the same period in the last year. Our operating expenses
primarily include payroll expenses, commissions, advertising, rent and professional fees relating to our obligations as a public company.
There was an increase of $2,406,376 in our general and administrative expenses, from $520,884 for the year ended July 31, 2024 to $2,927,260
in the year ended July 31, 2025. The significant increase in general and administrative expenses was primarily attributable to 1) a charge
of approximately $ 500,000 as we entered into an agreement with a vendor who will identify logistics service companies that are candidates
for acquisition; 2) a charge of approximately $ 500,000 as we entered into an agreement with a vendor who will provide public relations
services relating to our listing on Nasdaq; 3) a one-time cash bonus of $ 480,000 to certain members of management for successfully completing
our public offering; 4) a representative warrant with a value of $158,412 that we issued to a consultant, the warrant having vested immediately
and being exercisable in six months after issuance; 5) an increase of $119,140 in accounting and audit related expenses; 6) an increase
of approximately $245,000 for commercial service consulting fees. The increase in general and administrative expenses was partially offset
by a decrease in selling and marketing expenses, which was $230,778 for the year ended July 31, 2025, as compared to $365,992 for the
same period in last fiscal year. The reduction evidences our efforts to operate with less dependence on brokers for business development
and to reduce commission-based expenses.

 Income tax expense

 Our income tax expenses
amounted to $5,833 and $35,906 for the years ended July 31, 2025 and 2024, respectively. The change was due to the loss we incurred this
year as a result of increases in operating expenses.

 Net Income (loss)

 As a result of the
foregoing, we incurred a net loss of $2,686,357 and a net income of $110,320 for the years ended July 31, 2025 and 2024,
respectively. As the Company owns only 90% of its operating subsidiary, Roshing, 10% of the net income realized by Roshing was
attributed to the minority interest. Therefore, the net loss for the years ended July 31, 2025 and 2024 attributable to the
shareholders of the Company was $2,640,789 and a net income of $54,450, respectively.

 Liquidity and Capital
Resources

 In assessing our liquidity,
we monitor and analyze our cash on-hand and our operating expenditure commitments. Our liquidity needs are to meet our working capital
requirements and operating expenses obligations. As of July 31, 2025, despite a net loss of $2,686,357 for the year ended July 31, 2025,
we had working capital of $2,905,601, which consisted primarily of cash in the amount of $ 2,405,352 that was a portion of the amount
we received upon the completion of our public offering. To date, we have financed our operations primarily through capital contributions
from shareholders, private placements of equity, and the public offering of common stock.

 We believe that our liquidity
and working capital will be sufficient to sustain our business operations for the next twelve months. We may, however, need additional
cash resources in the future if there are changes in business conditions or other adverse developments or if the company finds and wishes
to pursue opportunities for investment, acquisition, capital expenditure, or similar actions.

 We started providing
shipping & freight forwarding services in 2023. Although the business grew quickly, we may require significant capital expenditure,
such as acquiring transportation assets, for developing our market share. If we determine that our cash requirements exceed the amount
of cash and cash equivalents we have on hand at the time, we may seek to issue equity or debt securities or obtain credit facilities.
The issuance and sale of additional equity may result in dilution to our shareholders. Any loans that we may secure would result in increased
fixed obligations and could result in operating covenants that would restrict our operations. Our obligation to bear credit risk for certain
financing transactions we facilitate may also strain our operating cash flow. We cannot assure you that financing will be available in
amounts or on terms acceptable to us, if at all.

 The following table summarizes
the key components of our cash flows for the years ended July 31,2025 and 2024.

 For the Years Ended

 2025

 2024

 Net cash provided by (used in) operating activities

 $
 (3,225,714
)

 $
 112,740

 Net cash used in investing activities

 –

 –

 Net cash provided by financing activities

 5,217,937

 44,047

 Net change in cash and restricted cash

 $
 1,992,223

 $
 156,787

 Operating activities

 Net cash of $3,225,714
used in operating activities for the year ended July 31, 2025 was primarily the result of our net loss of $ 2,686,357. In addition, we
recorded an increase of $ 215,346 in inventory, an increase of $380,737 in prepayment and other current assets, a decrease of $46,087
in income taxes payable, and a decrease of $52,395 in accrued liabilities, all of which brought our net use of cash to $3,225,714.

 Net cash of $112,740
provided by operating activities for the year ended July 31, 2024 was primarily the result of net income of $110,320. A $35,906 increase
in income taxes payable and $21,498 increase in accrued liabilities were offset by an noncash item, $24,953 of debt forgiven by a related
party, and a decrease of $29,070 in our advances from customers account.

 Investing activities

 The company had no investing
activities during the years ended July 31, 2025 and 2024.

 Financing activities

 Net cash provided by
financing activities for the year ended July 31, 2025 was $5,217,937, which is primarily the proceeds from our public offerings in the
net amount of $5,439,333, which was partially offset by repayment of $10,771 to a related party and $219,125 in deferred offering costs
related to our public offering.

 Net cash provided by
financing activities for the year ended July 31, 2024 was $44,047, as the proceeds of $513,213 that we received from a private placement
offering was partially offset by the $495,356 in fees that we paid to various service providers in anticipation of a public offering of
stock.

 Critical Accounting
Estimates

 Our financial
statements and accompanying notes have been prepared in accordance with U.S. GAAP. The preparation of these financial
statements and accompanying notes requires us to make estimates and judgments that affect the reported amounts of assets,
liabilities, revenues and expenses, and related disclosure of contingent assets and liabilities. We base our estimates on historical
experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form
the basis of making judgments about the carrying values of assets and liabilities that are not readily apparent from other
sources.

 In connection with the preparation of our financial
statements for the year ended July 31, 2025, there was no accounting estimate we made that was subject to a high degree of uncertainty
and was critical to our results.

 Recently Issued Accounting
Pronouncements

 The Company considers
the applicability and impact of all accounting standards updates ("ASUs"). Management periodically reviews new accounting
standards that are issued. The Company does not believe that any recently issued but not yet effective accounting standards, if currently
adopted, would have a material effect on the Company's consolidated balance sheets.

 Item 7A. Quantitative And Qualitative Disclosures About Market Risk

 Not Applicable.

 Item 8. Financial Statements

 INDEX TO FINANCIAL STATEMENTS

 Page

 Report of Independent Registered Public Accounting Firm (PCAOB ID# 6797)

 Consolidated Balance Sheets as of July 31, 2025 and 2023

 Consolidated Statements of Operations for the Years Ended July 31, 2025 and 2024

 Consolidated Statements of Changes in Stockholders' Equity for the Years Ended July 31, 2025 and 2024

 Consolidated Statements of Cash Flows for the Years Ended July 31, 2025 and 2024

 F-6 to F-21

 Notes to Consolidated Financial Statements

 REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM

 To the Board of Directors and Shareholders of

 Tianci International, Inc.

 OPINION ON THE FINANCIAL STATEMENTS

 We have audited the accompanying consolidated
balance sheets of Tianci International, Inc. and its subsidiaries (the "Company") as of July 31, 2025 and 2024, and the related
consolidated statements of operations and comprehensive loss, stockholders' equity and cash flows for the years then ended, and
the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present
fairly, in all material respects, the financial position of the Company as of July 31, 2025 and 2024, and the results of its operations
and its cash flows for the years then ended in conformity with accounting principles generally accepted in the United States of America.

 BASIS FOR OPINION

 These financial statements are the responsibility
of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We are
a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required
to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations
of the Securities and Exchange Commission and the PCAOB.

 We conducted our audit in accordance with the
standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement, whether due to error or fraud. The Company is not required to have, nor were we engaged
to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding
of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Company's
internal control over financial reporting. Accordingly, we express no such opinion.

 Our audit included performing procedures to assess
the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond
to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.
Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating
the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

 /s/ Bush & Associates CPA LLC

 We have served as the Company's auditor since 2024.

 Henderson, Nevada

 October 3, 2025

 PCAOB ID Number 6797

 F- 1

 TIANCI INTERNATIONAL, INC. AND SUBSIDIARIES

 CONSOLIDATED BALANCE SHEETS

 (EXPRESSED IN UNITED STATES DOLLARS)

 2025

 2024

 ASSETS

 Current assets:

 Cash

 $
 2,405,352

 $
 413,129

 Prepayment and other current assets

 382,554

 1,820

 Inventory

 215,346

 –

 Deferred offering costs

 –

 495,356

 Total current assets

 3,003,252

 910,305

 Other assets:

 Lease security deposit

 23,174

 1,656

 Lease right-of-use asset

 119,545

 –

 Total non-current assets

 142,719

 1,656

 TOTAL ASSETS

 $
 3,145,971

 $
 911,961

 LIABILITIES AND STOCKHOLDERS' EQUITY

 Current liabilities:

 Accounts payable

 $
 18,554

 $
 –

 Income taxes payable

 16,117

 62,204

 Due to related parties

 –

 2,271

 Lease liability-current

 57,903

 –

 Accrued liabilities and other payables

 5,077

 57,476

 Total current liabilities

 97,651

 121,951

 Lease liability - noncurrent

 61,403

 –

 Total liabilities

 159,054

 121,951

 Commitments and contingencies

 –

 –

 Stockholders' equity:

 Series A Preferred stock, $ 0.0001 par value; 80,000 shares authorized; no shares issued and outstanding
 as of July 31, 2025 and 2024

 –

 –

 Series B Preferred stock, $ 0.0001
 par value; 80,000
 shares authorized; 80,000
 shares issued and outstanding as of July 31, 2025 and 2024

 Undesignated preferred stock, $ 0.0001 par value; 19,920,000 shares authorized; no shares issued and outstanding

 –

 –

 Common stock, $ 0.0001
 par value, 100,000,000
 shares authorized; 16,531,803
 and 14,781,803
 shares issued and outstanding as of July 31, 2025 and 2024

 1,653

 1,478

 Additional paid-in capital

 5,845,505

 962,416

 Accumulated deficit

 ( 2,862,860
)

 ( 222,071
)

 Total stockholders' equity attributable to TIANCI
 INTERNATIONAL, INC.

 2,984,306

 741,831

 Non-controlling interest

 2,611

 48,179

 Total stockholders' equity

 2,986,917

 790,010

 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

 $
 3,145,971

 $
 911,961

 *Shares are presented on a retroactive basis to reflect the reorganization on March 3, 2023.

 The accompanying notes are an integral part of these consolidated financial
statements.

 F- 2

 TIANCI INTERNATIONAL, INC. AND SUBSIDIARIES

 CONSOLIDATED STATEMENTS OF OPERATIONS

 (EXPRESSED IN UNITED STATES DOLLARS)

 For the years ended July 31,

 2025

 2024

 OPERATING REVENUES

 Global logistics services

 $
 9,006,407

 $
 8,320,402

 Other revenue

 276,590

 296,863

 Total Operating Revenues

 COST OF REVENUES

 Global logistics services

 8,652,742

 7,432,806

 Other revenue

 180,132

 129,280

 Total Cost of Revenues

 8,832,874

 7,562,086

 Gross profit

 450,123

 1,055,179

 Operating expenses:

 Selling and marketing

 230,778

 365,992

 General and administrative

 2,927,260

 520,884

 Total operating expenses

 3,158,038

 886,876

 Income (loss) from operations

 ( 2,707,915
)

 168,303

 Other income (loss) net

 27,391

 ( 22,077
)

 Income (loss) before provision for income taxes

 ( 2,680,524
)

 146,226

 Provision for income taxes

 5,833

 Net income (loss)

 ( 2,686,357
)

 110,320

 Less: net income (loss) attributable to non-controlling interest

 ( 45,568
)

 55,870

 Net income (loss) attributable to TIANCI INTERNATIONAL, INC.

 $
 ( 2,640,789
)

 $

 Weighted average number of common shares*

 15,270,040

 10,560,950

 Income (loss) per common share attributable to TIANCI INTERNATIONAL, INC.*

 $
 ( 0.17
)

 $
 0.01

 Weighted average number of preferred shares A*

 –

 37,260

 Income (loss) per preferred share A attributable to TIANCI INTERNATIONAL, INC.*

 $
 –

 $
 0.01

 Weighted average number of preferred shares B*

 21,319

 Income (loss) per preferred share B attributable to TIANCI INTERNATIONAL, INC.*

 $
 ( 0.17
)

 $
 0.01

 *

 Shares are presented on a retroactive basis to reflect the reorganization on
 March 3, 2023

 The accompanying notes are an integral part of these consolidated financial
statements.

 F- 3

 TIANCI INTERNATIONAL, INC. AND SUBSIDIARIES

 CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS'
EQUITY

 FOR THE YEARS ENDED JULY 31, 2024 AND 2023 (EXPRESSED
IN UNITED STATES DOLLARS)

 Series A Preferred Stock

 Series A Preferred Stock amount*

 Series B Preferred Stock

 Series B Preferred Stock amount*

 Common stock*

 Common stock amount*

 Subscription receivable*

 Additional Paid-in Capital

 (Accumulated Deficit)

 Noncontrolling interest

 Total

 Balance at July 31, 2023

 $

 –

 $
 –

 5,903,481

 $

 $
 –

 $
 4,982

 $
 ( 276,521
)

 $
 ( 7,691
)

 $
 ( 278,632
)

 Conversion of liabilities to common stock

 –

 –

 –

 –

 445,109

 –

 445,065

 –

 –

 445,109

 Conversion of preferred stock to common stock

 ( 80,000
)

 ( 8
)

 –

 –

 8,000,000

 –

 ( 792
)

 –

 –

 –

 Common stock private offering

 –

 –

 –

 –

 433,213

 –

 433,169

 –

 –

 433,213

 Preferred stock private offering

 –

 –

 –

 –

 –

 79,992

 –

 –

 Net income

 –

 –

 –

 –

 –

 –

 –

 –

 55,870

 110,320

 Balance at July 31, 2024

 –

 $
 –

 $

 14,781,803

 $
 1,478

 $
 –

 $
 962,416

 $
 ( 222,071
)

 $
 48,179

 $
 790,010

 Proceeds from public offering

 –

 –

 –

 –

 1,750,000

 –

 4,724,677

 –

 –

 4,724,852

 Warrants issuance to consultant

 –

 –

 –

 –

 –

 –

 –

 158,412

 –

 –

 158,412

 Net loss

 –

 –

 –

 –

 –

 –

 –

 –

 ( 2,640,789
)

 ( 45,568
)

 ( 2,686,357
)

 Balance at July 31, 2025

 –

 $
 –

 $

 16,531,803

 $
 1,653

 $
 –

 $
 5,845,505

 $
 ( 2,862,860
)

 $
 2,611

 $
 2,986,917

 *

 Shares are presented on a retroactive basis to reflect the reorganization on
 March 3, 2023

 The accompanying notes are an integral part of these consolidated financial
statements.

 F- 4

 TIANCI INTERNATIONAL, INC. AND SUBSIDIARIES

 CONSOLIDATED STATEMENTS OF CASH FLOWS

 (EXPRESSED IN UNITED STATES DOLLARS)

 For the years ended July 31,

 2025

 2024

 Cash flows from operating activities:

 Net income (loss)

 $
 ( 2,686,357
)

 $
 110,320

 Adjustments to reconcile net income (loss) to net cash

 Amortization of operating lease right-of-use asset

 4,937

 Warrants issuance to consultant

 158,412

 –

 Debt forgiven by related party

 –

 ( 24,953
)

 Change in operating assets and liabilities:

 Prepayment and other current assets

 ( 380,737
)

 ( 70
)

 Inventory

 ( 215,346
)

 –

 Lease security deposit

 ( 21,518
)

 ( 114
)

 Advances from customers

 –

 ( 29,070
)

 Accounts payable

 18,554

 ( 777
)

 Income taxes payable

 ( 46,087
)

 Operating lease liabilities

 ( 5,177
)

 ( 356
)

 Accrued liabilities and other payables

 ( 52,395
)

 21,498

 Net cash (used in) provided by operating activities

 ( 3,225,714
)

 112,740

 Cash flows from financing activities:

 Repayment of working capital advance to related party

 ( 10,771
)

 ( 28,083
)

 Operating expenses directly paid by shareholders

 –

 Working capital advance from related party

 8,500

 54,134

 Proceeds received from pu blic or private offerings

 5,439,333

 513,213

 Deferred offering costs incurred

 ( 219,125
)

 ( 495,356
)

 Net cash provided by financing activities

 5,217,937

 44,047

 Net increase in cash

 1,992,223

 156,787

 Cash, beginning

 413,129

 256,342

 Cash, ending

 $
 2,405,352

 $
 413,129

 –

 Supplemental disclosure of cash flow information:

 Cash paid during the period for:

 Interest

 $
 –

 $
 –

 Income taxes

 $
 51,920

 $
 –

 Non-Cash Activities:

 Early termination of right-of-use assets and lease liabilities

 $
 –

 $
 6,080

 Conversion of liabilities to common stock

 $
 –

 $
 445,109

 Conversion of preferred stock to common stock

 $
 –

 $

 Deferred offering costs net against proceeds from public offering

 $
 714,481

 $
 –

 Initial recognition of right-of-use assets and lease liabilities,
 net of disposal

 $
 124,483

 $
 –

 The accompanying notes are an integral part of these consolidated financial
statements.

 F- 5

 TIANCI INTERNATIONAL,
INC.

 Notes to Consolidated
Financial Statements

July 31, 2025 and 2024

 NOTE
1 – NATURE OF BUSINESS AND ORGANIZATION

 On June
13, 2012, Freedom Petroleum Inc. was incorporated under the laws of the State of Nevada. In May 2015, Freedom Petroleum changed its name
to Steampunk Wizards, Inc.; and on November 9, 2016, Steampunk Wizards changed its name to Tianci International, Inc. (the "Company").
The Company is a holding company. As of July 31, 2024, the Company had one operating subsidiary, Roshing International Co., Limited ("Roshing").
The Company owns 90% of the capital stock of Roshing through RQS United, a wholly-owned subsidiary. The Company's fiscal year end
is July 31.

 On February
13, 2023, the Company incorporated a wholly-owned subsidiary, Tianci Group Holding Limited, in the Republic of Seychelles. To date, Tianci
Group Holding Limited has not carried on any business operations.

 Reorganization

 On March
3, 2023 the Company entered into a Share Exchange Agreement with RQS United Group Limited ("RQS United") and RQS Capital Limited
("RQS Capital"), which was the sole shareholder of RQS United (the "Exchange Agreement"). RQS United owns 90 %
of the equity in Roshing International Co., Limited ("Roshing"), which is engaged in the business of providing global logistics
services including ocean freight forwarding and related logistics solutions, distributing electronic components and providing software
services. Pursuant to the Exchange Agreement, on March 6, 2023 RQS Capital transferred all of the issued and outstanding capital stock
of RQS United to the Company, and the Company issued to RQS Capital 1,500,000 shares of our common stock and paid a cash price of $350,000
(the "Share Exchange"). Pursuant to the Exchange Agreement, the Company also issued a total of 700,000 shares of our common
stock to nine employees or affiliates of Roshing to induce continued services to Roshing.

 As a result
of the Share Exchange, RQS United became our wholly-owned subsidiary and the former RQS United stockholder became our controlling stockholder.
The share exchange transaction was treated as a reverse acquisition, with RQS United as the acquirer and the Company as the acquired party
for accounting purposes. Unless the context suggests otherwise, when we refer in this report to business and financial information for
periods prior to the consummation of the reverse acquisition, we are referring to the business and financial information of RQS United
and its consolidated subsidiary, Roshing.

 Prior to
the Share Exchange, the Company was a shell company as defined in Rule 12b-2 under the Exchange Act. As a result of the transactions under
the Exchange Agreement, the Company ceased to be a shell company.

 RQS United
is a holding company incorporated on November 4, 2022 in the Republic of Seychelles. RQS United has no substantive operations other than
holding 90% of the outstanding share capital of its subsidiary. Roshing, which was incorporated on June 22, 2011 in Hong Kong, is principally
engaged in global logistics services. Less than 5% of its revenue for the year ended July 31, 2025 was derived from other business lines:
sales of electronic device hardware components, development of logistics software and websites, technical consulting, and software maintenance.
Roshing's business is primarily carried out in Hong Kong. During the fourth quarter ended July 31, 2025, the Company prepared to
launch a new mineral ore trading business line, aiming to diversify its revenue streams while further enhancing the synergies between
the new business line and its existing logistic service business line.

 F- 6

 NOTE 2 – SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES

 Basis of Presentation

 The consolidated
financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S.
GAAP"). All consolidated financial statements and notes to the consolidated financial statements are presented in United States
dollars ("US Dollar" or "US$" or "$").

 Principles of consolidation

 The consolidated financial statements include
the financial statements of Tianci and its subsidiaries. All transactions and balances among the Company and its subsidiaries have been
eliminated upon consolidation.

 Use
of Estimates

 The preparation
of financial statements in conformity with accounting principles generally accepted in the United States of America requires management
to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities
at the date of the financial statements. The estimates and judgments will also affect the reported amounts for certain revenues and expenses
during the reporting periods. Actual results could differ from these good faith estimates and judgments.

 Foreign currency translation and transactions

 The Company uses the U.S. dollar as its reporting
currency and functional currency. Transaction gains and losses are recognized in the consolidated statement of operations.

 Cash
and Cash Equivalents

 Cash and
cash equivalents consist primarily of bank deposits with original maturities of three months or less, which are unrestricted as to withdrawal
and use. The Company maintains its bank accounts in the United States and Hong Kong.

 Accounts receivable, net

 Accounts receivable include trade accounts
due from customers which are generally collected within six months. In establishing the allowance for doubtful accounts, management
considers historical collection experience, aging of the receivables, the economic environment, industry trend analysis, and the
credit history and financial condition of the customer. Management reviews its receivables on a regular basis to determine if the
allowance for doubtful accounts is adequate, and adjusts the allowance when necessary. Delinquent account balances are written-off
against the allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. As of
July 31, 2025 and 2024, no
allowance for doubtful accounts was deemed necessary.

 Prepayment
and other current assets

 Prepayment
and other current assets include cash deposited or advanced to vendors for purchasing goods or services that have not been received
or provided. This amount is refundable and bears no interest. Prepayment and other current assets are classified as either current
or non-current based on the terms of the respective agreements. Prepayment and other current assets are generally unsecured and
reviewed periodically for impairment. As of July 31, 2025 and 2024, the Company made no
allowance for impairment.

 Inventory

 Inventories
of mineral ore and hardware are stated at the lower of cost or estimated realizable value. Cost includes the Company's cost of acquiring
mineral ore or hardware products. The cost is charged to cost of products sold on a weighted average basis. Management periodically compares
the cost of inventories with its net realizable value, and will establish an allowance to adjust its inventories to their respective net
realizable value ("NRV") if NRV is lower than cost. As of July 31, 2025 and 2024, the Company had not started generating mineral
ore sales revenue, and there was no allowance for inventory.

 F- 7

 Fair
Value Measurements

 The accounting
standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires
disclosure of the fair value of financial instruments held by the Company.

 The accounting
standard defines fair value, establishes as a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure
requirements for fair value measures. The three levels are defined as follows:

 Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

 Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in inactive markets and inputs that are observable for the assets or liabilities, either directly or indirectly, for substantially the full term of the financial instruments.

 Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement.

 Financial
instruments included in current assets and current liabilities (such as cash, accounts receivable, due from related party, accounts payable,
and due to related parties) are reported in the consolidated balance sheets at cost, which approximates fair value because of the short
period of time between the origination of such instruments and their expected realization.

 Revenue recognition

 The Company follows the Financial Accounting Standards Board
("FASB") Accounting Standards Codification ("ASC") Topic 606. This standard requires the use of a five-step model
to recognize revenue from customer contracts. The five-step model requires that the Company (i) identifies the contract with
the customer, (ii) identifies the performance obligations in the contract, (iii) determines the transaction price, including
variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocates the transaction
price to the respective performance obligations in the contract, and (v) recognizes revenue when (or as) the Company satisfies the
performance obligations.

 The Company records revenue net of sales taxes
which are subsequently remitted to governmental authorities and are excluded from the transaction price.

 The Company's revenue recognition policies
are as follows:

 a. Global Logistics Services

 The Company provides global logistics services, including
ocean freight forwarding and related logistics solutions. As a non-asset-based carrier, the Company does not own transportation assets.

 The Company derives its revenues by entering into agreements
that are generally comprised of a single performance obligation, which is that freight is shipped for and received by the customer via
either container ships or general cargo vessels. The most significant drivers of changes in gross revenues and related transportation
expenses are volume and weight.

 In general, each shipment transaction or service order constitutes
a separate contract with the customer. A performance obligation is created once a customer agreement with an agreed upon transaction price
exists. The transaction price, which is based on volume, weight, and shipping time, is fixed and not contingent upon the occurrence or
non-occurrence of any other event.

 The Company typically satisfies its performance obligations
at a point in time when freight is shipped to a destination port and accepted by its customer. The Company does not have significant variable
consideration in its contracts. Taxes assessed concurrently with a specific revenue-producing transaction that are collected by the Company
from a customer are excluded from revenues.

 F- 8

 The Company evaluates whether amounts billed to customers
should be reported as gross or net revenue. Revenue is recorded on a gross basis when the Company is primarily responsible for fulfilling
the promise to provide the services, when it assumes risk of loss, when it has discretion in setting the prices for the services to the
customers, and when the Company has the ability to direct the use of the services provided by the third party. In most cases we act as
an indirect carrier. When acting as an indirect carrier, we issue a Fixture Note to the customer as the contract of carriage. In turn,
when the freight is physically tendered to a direct carrier, we receive a Master Ocean Bill of Lading.

 The Company's evaluation determined that it is
in control of establishing the transaction price, managing all aspects of the shipment process and assumes the risk of loss for delivery,
collection, and returns. Based on its evaluation of the control of services and risk involved, the Company determined that it acts as
a principal rather than an agent in global logistics service arrangements and such revenues are reported on a gross basis.

 b. Other Products and
Services

 b1. Electronic Device
Hardware Components Products Sales

 The Company is a distributor of electronic device hardware
components and generates revenue through resale of these components. The Company's products include high performance computer chips,
Wi-Fi modules, Bluetooth modules, 4G network modules, LED screens, and touch screens. In accordance with ASC 606, Revenue Recognition:
Principal Agent Consideration, an entity is a principal if it controls the specified good or service before that good or service is transferred
to a customer. Otherwise, the entity is an agent in the transaction. The Company evaluates three indicators of control in accordance with
ASC 606: 1) For hardware sales, the Company is the most visible entity to customers and assumes fulfillment risk and risks related to
the acceptability of products, including addressing customer complaints directly and handling of product returns or refunds directly;
2) The Company is exposed to inventory risk before transfer of control to customers; and 3) The Company determines the resale price of
hardware products. After evaluating the above circumstances, the Company considers itself the principal of these arrangements and records
hardware sales revenue on a gross basis.

 Hardware sales contracts are on a fixed price basis with no
separate sales rebate, discount, or other incentive. Revenue is recognized at a point in time when the Company has delivered products
that have been accepted by its customer with no future obligations. The Company generally permits returns of products due to product failure;
however, returns are historically insignificant.

 b2. Software
and Website Development Services

 The Company generates revenue
by developing customized freight shipping and related logistic software and websites, which are generally on a fixed-priced basis. The
software helps wholesalers, ecommerce retailers, and freight shipping providers to manage complex workflows and improve work efficiency.
The Company generally has no enforceable right to payment for performance completed to date and is only entitled to payment after software
is fully developed, delivered, tested, and accepted by the customer. As a result, revenues from software development contracts are recognized
at a point in time when services are fully rendered, and written acceptances have been received from customers.

 b3. Technical Consulting
and Training Services

 The Company provides technical consulting and training services
to help customers, generally its existing customers, to better understand and properly use its customized software and related hardware.
Services are generally carried out on a per-time fixed rate basis. Revenue is recognized at a point in time when service is rendered and
the customer confirms the completion of consulting or training.

 F- 9

 b4. Software Maintenance
and Business Promotion Services

 The Company provides software maintenance services to keep
customers' software up to date and assists customers in promoting business with ongoing marketing support. The Company charges a
flat rate for a fixed duration on a subscription basis, generally 12 months. Revenue is recognized ratably each month over the contract
period.

 b5. Business Consulting Services

 The Company provides business consulting services to help
customers apply for immigration and non-immigration visas. The Company is responsible for performing background checks, case analysis,
and preparing related application paper works. The Company charges a flat fee for the visa application services. Revenue is recognized
at a point in time when an application is submitted with proper authorities.

 Cost of revenues

 For global logistics services, cost of revenue
consists primarily of cargo space charged by direct ocean carriers, freight forwarders and ancillary logistics services fees.

 For hardware products sales, the cost of revenue
consists primarily of the costs of hardware products sold.

 For software, consulting, services-based revenue,
the cost of revenue consists primarily of costs paid to outsourced service providers and compensation expenses paid the Company's
service vendor.

 Advertising costs

 Advertising costs amounted to $ 3,559
and $ 0 for
the years ended July 31, 2025 and 2024, respectively. Advertising costs are expensed as incurred and included in selling and
marketing expenses.

 Operating leases

 Effective August 1, 2022, the Company adopted
FASB ASU 2016-02, "Leases" (Topic 842), and elected the practical expedient that does not require the Company to reassess:
(1) whether any expired or existing contracts are, or contain, leases, (2) lease classification for any expired or existing leases and
(3) initial direct costs for any expired or existing leases. For lease terms of twelve months or less, a lessee is permitted to make an
accounting policy election not to recognize lease assets and liabilities. The Company also adopted the practical expedient that allows
lessees to treat the lease and non-lease components of a lease as a single lease component. Upon adoption of ASU 2016-02 effective August
1, 2022, the Company recognized a $ 8,704 right of use ("ROU") asset and operating lease liabilities in January 2023 based
on the present value of the future minimum rental payments of leases, using an incremental borrowing rate of 5 %.

 The Company determines if a contract contains
a lease at inception. US GAAP requires that the Company's leases be evaluated and classified as operating or finance leases for
financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation
includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods
when the exercise of the renewal option is reasonably certain and failure to exercise such option would result in an economic penalty.
All of the Company's real estate leases are classified as operating leases.

 Lease payments for an operating lease transitioning
to ASC 842 using the effective date are based on future payments at the transition date and on the present value of lease payments over
the remaining lease term. Since the implicit rate for the Company's leases is not readily determinable, the Company uses its incremental
borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The incremental
borrowing rate is the rate of interest that the Company would have to pay to borrow, on a collateralized basis, an amount equal to the
lease payments, in a similar economic environment and over a similar term.

 F- 10

 Lease terms used to calculate the present value
of lease payments generally do not include any options to extend, renew, or terminate the lease, as the Company does not have reasonable
certainty at lease inception that these options will be exercised. The Company generally considers the economic life of its operating
lease ROU assets to be comparable to the useful life of similar owned assets. The Company has elected the short-term lease exception;
therefore, operating lease ROU assets and liabilities do not include leases with a lease term of twelve months or less. Lease expense
is recognized on a straight-line basis over the lease term.

 The Company reviews the impairment of its ROU
assets consistent with the approach applied for its other long-lived assets. The Company reviews the recoverability of its long-lived
assets when events or changes in circumstances occur that indicate that the carrying value of the asset may not be recoverable. The assessment
of possible impairment is based on its ability to recover the carrying value of the asset from the expected undiscounted future pre-tax
cash flows of the related operations.

 The lease for the Company's Hong Kong office
facility was early terminated in September 2023, which resulted in a derecognition of $ 6,080 right of use ("ROU") asset
and operating lease liabilities in August 2023.

 In
September 2023, the Company entered into a one-year office rental service agreement with a monthly lease payment of approximately
$828 (HKD 6,500). In September 2024, the Company further renewed the lease for one year with a monthly lease payment of
approximately $847 (HKD 6,650).

 Upon the expiration of the above lease, the Company
entered a two-year lease for a new office in July 2025.

 Income taxes

 The Company accounts for current income taxes
in accordance with the laws of the relevant tax authorities. The charge for taxation is based on the results for the fiscal year as adjusted
for items which are non-taxable or non-deductible. It is calculated using tax rates that have been enacted or substantively enacted
by the balance sheet date.

 Deferred taxes are accounted for using the asset
and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities
in the unaudited interim consolidated financial statements and the corresponding tax bases used in the computation of taxable income (loss).
In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the
extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred
tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred
tax is charged or credited in the statements of operations, except when it is related to items credited or charged directly to equity,
in which case the deferred tax is dealt with in equity. Net deferred tax assets are reduced by a valuation allowance when, in the opinion
of management, it is more likely than not that some portion or all of the net deferred tax asset will not be realized.

 An uncertain tax position is recognized as a benefit
only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination
being presumed to occur. The amount recognized is the largest amount of tax benefit that has a greater than 50% likelihood of being realized
on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. Penalties and interest
incurred related to underpayment of income tax for uncertain tax positions are classified as income tax expenses in the period incurred.

 During the year ended July 31, 2024, the Company
incurred an IRS penalty of $ 47,030 for failure to update certain foreign-owned information schedules in a timely manner. The penalty
is included in other expense in the statements of operations for the year ended July 31, 2024. During the year ended July 31, 2025, the
Company received a refund of $ 27,391 from the IRS for the penalty previously charged. The refund is included in other income in the
statements of operations for the year ended July 31, 2025.

 F- 11

 The Hong Kong tax returns filed for the 2019/2020
tax year and subsequent years are subject to examination by the applicable tax authorities.

 The US tax returns filed for 2022 and subsequent years are subject
to examination by the applicable tax authorities.

 Earnings (loss) per share

 The Company computes earnings (loss) per share
("EPS") in accordance with FASB ASC 260, "Earnings per Share". ASC 260 requires companies to present
basic and diluted EPS. Basic EPS is measured as net income (loss) divided by the weighted average common stock outstanding for the
period. Diluted EPS presents the diluted effect on a per share basis of the potential common stock (e.g., convertible securities, options
and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common stock
that has an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation
of diluted EPS. As of July 31, 2025 and 2024, there were 8,000,000 dilutive shares outstanding related to the convertible Series
B Preferred Stock. Each share of Series B and Series A Preferred Stock is and was convertible by the holder of the share into 100 shares
of common stock, subject to equitable adjustment of the conversion rate.

 Noncontrolling Interests

 The Company's noncontrolling interest represents
the minority shareholder's 10 % ownership interest in Roshing. The noncontrolling interest is presented in the consolidated
balance sheets separate from stockholders' equity attributable to Tianci. The noncontrolling interest in the results of Roshing
is presented on the consolidated statements of operations as allocations of the total income or loss of Roshing between the noncontrolling
interest holder and the shareholders of RQS United.

 Related parties

 Parties, which can be a corporation, other business
entity, or an individual, are considered to be related if one party has the ability, directly or indirectly, to control the other party
or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be
related if they are subject to common control or common significant influence.

 Recently issued accounting pronouncements

 The Company considers the applicability and impact
of all accounting standards updates ("ASUs"). Management periodically reviews new accounting standards that are issued.

 The Company does not believe any recently issued
but not yet effective accounting standards, if currently adopted, would have a material effect on the Company's consolidated Financial
Statements.

 NOTE 3 – PUBLIC
OFFERING AND DEFERRED OFFERING COSTS

 On April 11, 2025, the Company closed a public offering (the "Uplisting") of 1,750,000 shares of its common stock at a price of $4.00 per share, for total gross proceeds of $ 7,000,000.00. The Company's common stock began trading on the Nasdaq Capital Market under the ticker symbol "CIIT" on April 10, 2025.

 The Company
received net proceeds of approximately $ 5,439,333, after deducting underwriting discounts, commissions, and offering expenses. Upon the
closing of the Company's Uplisting, deferred offering costs of $ 714,481 were offset against the gross proceeds and recorded as a
reduction to additional paid-in capital.

 F- 12

 NOTE
4 – PREPAYMENT AND OTHER CURRENT ASSETS

 Prepayment and other current
assets consisted of the following:

 Schedule of prepayment and other current
assets

 2025

 2024

 Prepayment and other current assets

 Inventory Purchase

 $
 148,314

 $
 –

 Employee reimbursement advance

 100,000

 –

 Other services

 134,240

 1,820

 Total prepayment and other current assets

 $
 382,554

 $
 1,820

 NOTE
5 – RELATED PARTIES BALANCES AND TRANSACTIONS

 Due to related parties
consists of:

 Schedule of due to related parties

 Name

 Relationship

 Transaction Nature

 2025

 2024

 RQS Capital

 61.89% shareholder

 Company cash collection due to RQS Capital

 $
 –

 $
 2,271

 TOTAL

 $
 –

 $
 2,271

 This liability
is unsecured, non-interest bearing, and due on demand.

 Employment
agreements with officers and director retainer agreements

 Tianci currently
maintains three employment agreements with its officers and seven director retainer agreements with its directors. The agreements have
terms of 3 years and each provides for monthly compensation in amounts ranging from $1,300 per month to $8,000 per month as of July 31,
2025.

 For the years ended July
31, 2025 and 2024, the Company incurred management compensation expenses of $ 253,500 and $ 232,800, respectively. These amounts are included
in "general and administrative expenses" in the accompanying consolidated statements of operations.

 NOTE 6 – STOCKHOLDERS
EQUITY

 On
January 26, 2023 the Company filed with the Nevada Secretary of State a Certificate of Amendment of Articles of Incorporation (the
"Amendment"). The Amendment amended Article 3 of the Company's Articles of Incorporation to provide that the
authorized capital stock of the Company will be 120,080,000 shares of capital stock consisting of 100,000,000 shares
of common stock, $ 0.0001
par value, 80,000
shares of Series A Preferred Stock, $ 0.0001
par value, and 20,000,000
shares of undesignated preferred stock, $ 0.0001
par value. Subsequently, and as of July 31, 2025 and 2024, 80,000
shares of Undesignated Preferred Stock were designated as Series B Preferred stock.

 F- 13

 The following
table sets forth information, as of July 31, 2025, regarding the classes of capital stock that are authorized by the Articles of Incorporation
of Tianci International, Inc.

 Schedule of classes of capital stock authorized

 Class

 Shares

 Authorized

 Shares

 Outstanding

 Common Stock, $.0001 par value

 100,000,000

 16,531,803

 Series A Preferred Stock, $.0001 par value

 –

 Series B Preferred Stock, $.0001 par value

 Undesignated Preferred Stock, $.0001 par value

 19,920,000

 –

 Series
A Preferred Stock

 Each
share of Series A Preferred Stock was convertible by the holder of the share into 100 shares of common stock, subject to equitable
adjustment of the conversion rate. Each holder of Series A Preferred Stock had voting rights equal to the holder of the number of
shares of common stock into which the Series A Preferred Stock was convertible. Upon liquidation of the Company, each holder of
Series A Preferred Stock was entitled to receive, out of the net assets of the Company, $0.01 per share, then to share in the
distribution on an as-converted basis. On January 19, 2024, all 80,000
shares of the Series A Preferred Stock were converted into 8,000,000
shares of Company common stock.

 Series
B Preferred Stock

 Each share
of Series B Preferred Stock may be converted by the holder of the share into 100 shares of common stock, subject to equitable adjustment
of the conversion rate. Each holder of Series B Preferred Stock has voting rights equal to the holder of the number of shares of common
stock into which the Series B Preferred Stock is convertible. Upon liquidation of the Company, each holder of Series B Preferred Stock
is entitled to receive, out of the net assets of the Company, $0.01 per share, then to share in the distribution on an as-converted basis.

 Undesignated
Preferred Stock

 The Board
of Directors has the authority, without shareholder approval, to amend the Company's Articles of Incorporation to divide the class
of undesignated Preferred Stock into series, and to determine the relative rights and preferences of the shares of each series, including
(i) voting power, (ii) the rate of dividend, (iii) the price at which, and the terms and conditions on which, the shares may be redeemed,
(iv) the amount payable upon the shares in the event of liquidation, (v) any sinking fund provision for the redemption or purchase of
the shares, and (vi) the terms and conditions on which the shares may be converted to shares of another series or class, if the shares
of any series are issued with the privilege of conversion.

 Issuances
of Preferred Stock and Common Stock

 On
January 19, 2024 the Company sold an aggregate of 445,109
shares of its common stock to five present or former members of the Company's Board of Directors for an aggregate price of
$ 445,109
or $1.00 per share. The purchasers included Zhigang Pei, who received 220,909 shares in settlement of a loan by Mr. Pei to the
Company in the amount of $220,909, and five present or former members of the Company's Board of Directors, who received an
aggregate of 224,200 shares (Zhigang Pei – 110,200 shares; David Wei Fang – 64,600 shares; Jack Fan Liu – 22,100
shares, Jimmy Weiyu Zhu – 5,200 shares; and Yee Man Yung - 22,100 shares). All 445,109 shares were issued in satisfaction of
the Company's liability to the shareholders for unpaid compensation.

 On January
19, 2024 the Company issued 8,000,000 shares of its common stock to RQS Capital Limited. The shares were issued upon RQS Capital's
exercise of its right to convert 80,000 shares of the Company's Series A Preferred Stock into 8,000,000 shares of common
stock.

 F- 14

 On
January 24, 2024 the Company sold an aggregate of 433,213
shares of its common stock to nine investors for an aggregate price of $ 433,213
or $1.00 per share. The shares were issued in a private offering to investors.

 On
April 24, 2024, the Company sold 80,000 shares of its Series B Preferred Stock to RQS Capital Limited for a cash payment of
$ 80,000.

 On April 11, 2025, the Company closed its public offering of 1,750,000 common stock. The Shares were priced at $4.00 per share, and the offering was conducted on a firm commitment basis. The Company's common stock was approved for uplisting to the Nasdaq Capital Market from the OTC Markets and commenced trading under the ticker symbol "CIIT" on April 10, 2025.

 Issuances
of warrants

 On April
11, 2025, the Company issued 87,500 warrants to a third-party consultant as consideration for strategic advisory and consulting services.
Each warrant entitles the holder to purchase one share of the Company's common stock at an exercise price of $4.80 per share. The
warrants vest immediately, are exercisable through October 11, 2025, and are subject to the terms and conditions of the warrant agreement.

 The fair
value of the warrants was determined using the Black-Scholes option pricing model with the following assumptions:

 Expected term: 0.5 years

 Risk-free interest rate: 4.2060 %

 Expected volatility: 1.88 %

 Dividend yield: 0 %

 The total
grant-date fair value of the warrants was $ 158,412, which was recorded as a non-cash general and administrative expense for the year ended
July 31, 2025, in accordance with ASC 718, Compensation—Stock Compensation. Because the warrants were issued for services, they
were accounted for as equity-classified awards.

 NOTE
7 – INCOME TAXES

 Income
Taxes

 Seychelles

 RQS United
is incorporated in Seychelles and is not subject to tax on income generated outside of Seychelles under the current law. In addition,
upon payment of dividends, no withholding tax is imposed under current law.

 United
States

 Tianci is
incorporated in the United States and is subject to U.S. federal corporate income tax at a statutory rate of 21 %. State income taxes are
imposed in addition to the federal rate where applicable.

 Hong
Kong

 Roshing
is incorporated in Hong Kong and is subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial
statements adjusted in accordance with relevant Hong Kong tax laws. Incorporated
companies pay 8.25% tax on the first HKD 2 million of profits and 16.5% on the remainder. Hong Kong income tax expenses for
the years ended July 31, 2025 and 2024 amounted to $ 5,833
and $ 35,906,
respectively.

 F- 15

year ended July 31, 2025, the net loss of $ 2,686,367 consisted of United States source loss of $ 2,230,682 and Hong Kong source loss of
$ 455,675. For the year ended July 31, 2024, the net income of $ 110,320, consisted of United States source loss of $ ( 448,384) and Hong
Kong source income of $ 558,704.

 Significant
components of the provision for income taxes are as follows:

 Schedule of components of the
provision for income taxes

 July 31, 2024

 Current

 $
 5,833

 $

 Deferred

 –

 –

 Provision for income taxes

 $
 5,833

 $

 The following
table reconciles the United States statutory rates to the Company's effective tax rate:

 Schedule of Hong Kong effective tax rate

 July 31, 2024

 United States statutory tax rate

 21.0 %

 21.0 %

 Non taxable income

 0.0 %

 ( 0.6 %
)

 Prior year under accrue

 ( 0.2 %
)

 ( 8.8 %
)

 Foreign tax rate differential – Hong Kong (including two-tier regime)

 ( 0.8 %
)

 ( 51.5 %
)

 Change in valuation allowance

 ( 20.3 %
)

 64.4 %

 Effective tax rate

 ( 0.2 %
)

 24.6 %

 Deferred tax assets are comprised of the following:

 Schedule of deferred tax assets

 July 31, 2024

 Net operating loss carryforwards

 $
 807,016

 $
 297,316

 Warrants not excised

 33,267

 –

 Allowance for deferred tax assets

 ( 840,283
)

 ( 297,316
)

 Deferred tax assets, net

 $
 –

 $
 –

 For United
States income tax purposes, Tianci and Roshing had a net operating loss carryforward of approximately $ $ 3,488,000 and $( 451,655), respectively,
as of July 31, 2025. Management has not determined that it is more likely than not that this carryforward will be realized and thus the
Company maintained a 100% valuation allowance for the deferred tax asset relating to the United States net operating loss carryforward.
Current United States income tax law limits the amount of loss available to offset against future taxable income when a substantial change
in ownership occurs.

 Uncertain
tax positions

 The Company
evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and
measures the unrecognized benefits associated with the tax positions. As of July 31, 2025 and 2024, the Company did not have any significant
unrecognized uncertain tax positions.

 F- 16

 As of July
31, 2025, tax years 2022 and forward generally remain open for examination for United States Federal and State tax purposes and tax years
2022 and forward generally remain open for examination for Hong Kong tax purposes.

 NOTE
8 — CONCENTRATION OF RISK

 Credit
risk

 Financial
instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash held in
banks. The cash balance in each financial institution in the United States is insured by the FDIC up to $250,000. As of July 31,
2025, a cash balance of $ 2,177,414
was maintained at a financial institution in United States, of which $1,927,414 was subject to credit risk. The Hong Kong Deposit
Protection Board pays compensation up to a limit of HKD 500,000
(approximately US$ 64,000)
if the bank with which an individual/company holds its eligible deposit fails. As of July 31,2025, a cash balance of $ 214,217
was maintained at a financial institution in Hong Kong, of which approximately $150,217 was subject to credit risk. Management
believes that the financial institution is of high credit quality and continually monitors its credit worthiness.

 Customer
concentration risk

year ended July 31, 2025, two customers accounted for 41.5 % and 27.4 % of the Company's total revenues.

year ended July 31, 2024, three customers accounted for 48 %, 25 %, and 11 % of the Company's total revenues.

 As of July
31, 2025 and 2024, no customer accounted for over 10% of the Company's total accounts receivable.

 Vendor concentration risk

year ended July 31, 2025, one vendor accounted for 69.0 % of the Company's total purchases.

year ended July 31, 2024, two vendors accounted for 53.5 % and 22.2 % of the Company's total purchase.

 As of July
31, 2025, one vendor accounted for 100.0% of the Company's total accounts payable.

 As of July
31, 2024, no vendor accounted for over 10% of the Company's total accounts payable.

 NOTE
9— COMMITMENTS AND CONTINGENCIES

 Lease
commitments

 On
January 13, 2023, the Company entered an operating lease agreement for office space in Hong Kong with a third party for two years
with monthly rent of HKD 3,000 (approximately $382). Upon adoption of ASU 2016-02 effective August 1, 2022, the Company
recognized a $ 8,704 right of use ("ROU") asset and operating lease liabilities in January 2023 based on the present
value of the future minimum rental payments of leases, using an incremental borrowing rate of 5 %. The Company's lease
agreement did not contain any material residual value guarantees or material restrictive covenants. The lease did not contain an
option to extend at the time of expiration. The lease was early terminated in September 2023, which resulted in a derecognition of
$ 6,080 right of use ("ROU") asset and operating lease liabilities in August 2023.

 F- 17

 In
September 2023, the Company entered into a one-year office rental service agreement with a monthly lease payment of approximately
$828 (HKD 6,500). In September 2024, the Company further renewed the lease for one year with a monthly lease payment of
approximately $847 (HKD 6,650).

 Upon the expiration of the above lease, the Company
entered a two-year lease for a new office in July 2025 with monthly rent of HKD 45,000 (approximately $ 5,733). The Company's lease
agreements do not contain any material residual value guarantees or material restrictive covenants. The leases generally do not contain
options to extend at the time of expiration. On July 1, 2025, the Company recognized $ 124,483 of right of use ("ROU") assets
and operating lease liabilities based on the present value of the remaining future minimum rental payments of leases, using an incremental
borrowing rate of 5.50 %.

 As of July 31, 2025, the Company's operating
leases had a weighted average remaining lease term of approximately 2 years.

 For the year ended July 31, 2025, rent expenses
for the operating leases and short-term leases (less than one year) were $ 5,494 and $ 10,366, respectively.

 For the year ended July 31, 2024, rent expense
for the short term leases (less than one year) was $ 10,717.

 The total future minimum lease payments under
the non-cancellable operating leases as of July 31, 2025 are as follows:

 Schedule of total future minimum lease payments

 Year ending July 31,

 Minimum lease
 payments

 2026

 $
 63,063

 2027

 63,063

 Thereafter

 –

 Total lease payments

 126,126

 Less: Interest

 ( 6,820
)

 Present value of lease liabilities

 $
 119,306

 Future amortization of the Company's ROU
assets is presented below:

 Schedule of future amortization

 Year ending July 31,

 2026

 $
 60,770

 2027

 58,775

 After

 –

 Total

 $
 119,545

 Contingencies

 From time
to time, the Company may be a party to legal proceedings, as well as certain asserted and un-asserted claims. The Company was not involved
in any material legal proceedings nor asserted claims as of July 31, 2025.

 NOTE
10 — ENTERPRISE-WIDE DISCLOSURE

 The Company
follows ASC 280, Segment Reporting, which requires companies to disclose segment data based on how management makes decisions about
allocating resources to each segment and evaluates their performances. The Company's chief operating decision-makers (i.e., the
Company's chief executive officer and his direct assistants, including the Company's chief financial officer) review financial
information presented on a consolidated basis, accompanied by disaggregated information about revenues, cost of revenues, and gross profit
by business lines and by regions (Hong Kong, Vietnam, Japan and Singapore) for purposes of allocating resources and evaluating financial
performance. There are no segment managers who are held accountable for operations, operating results and plans for levels or components
below the consolidated unit level. Based on qualitative and quantitative criteria established by ASC 280, the Company considers itself
to be operating within one reportable segment.

 F- 18

 Disaggregated
information of revenues by business lines are as follows:

 Schedule of disaggregated information of revenues by business lines

 2025

 2024

 Electronic Device Hardware Components Sales

 $
 –

 $
 103,382

 Software and Website Development Services

 –

 19,230

 Software Maintenance and Business Promotion Services

 –

 29,276

 Business Consulting Services

 276,590

 144,975

 Global Logistics Services

 9,006,407

 8,320,402

 Total revenues

 $

 $

 Disaggregated
information of revenues by regions are as follows:

 Schedule of disaggregated information of revenues by regions

 2025

 2024

 Hong Kong

 $
 8,108,467

 $
 6,637,414

 Vietnam

 166,770

 953,251

 Japan

 954,135

 1,025,350

 Singapore

 53,625

 1,250

 Total revenues

 $

 $

 NOTE
11 — CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Unaudited)

 The Company performed
a test on the restricted net assets of its consolidated subsidiaries in accordance with Rule 4-08(e)(3) of Regulation S-X promulgated
by the SEC, "General Notes to Financial Statements" and concluded that it was applicable and the Company is required to disclose
the required financial statement information for the parent company.

 The subsidiaries did
not pay any dividends to the parent during the periods presented. For the purpose of presenting parent only financial information, the
Company records its investment in its subsidiaries under the equity method of accounting. Such investments are presented on the separate
parent only balance sheets as "investment in subsidiaries" and the income (loss) of the subsidiaries is presented as "share
of income (loss) of subsidiaries." Certain information and footnote disclosures generally included in financial statements prepared
in accordance with U.S. GAAP have been condensed or are not required.

 F- 19

 PARENT COMPANY
BALANCE SHEET

 Schedule of balances sheet

 2025

 2024

 ASSETS

 Cash

 $
 2,177,414

 $
 14,621

 Prepaid expense

 39,373

 1,820

 Investment in subsidiaries

 288,614

 1,094,077

 Receivable from subsidiaries

 497,584

 –

 Total Assets

 $
 2,505,401

 $
 1,110,518

 LIABILITIES

 Accounts payable and other accrued liabilities

 $
 18,679

 $
 54,000

 Payable to subsidiaries

 –

 312,416

 Due to related parties

 –

 2,271

 Total liabilities

 ( 478,905
)

 368,687

 Stockholders' equity

 Series A Preferred stock, $ 0.0001 par value; 80,000 shares authorized; no shares issued and outstanding
 as of July 31, 2025 and 2024

 –

 –

 Series B Preferred stock, $ 0.0001 par value; 80,000 shares authorized; 80,000 shares issued and outstanding as of July 31, 2025
 and 2024

 Undesignated preferred stock, $ 0.0001 par value; 19,920,000 shares authorized; no shares issued and outstanding

 –

 –

 Common stock, $ 0.0001 par value, 100,000,000 shares authorized; 16,531,803 and 14,781,803 shares issued and outstanding as of
 July 31, 2025 and 2024

 1,653

 1,478

 Additional paid-in capital

 5,845,505

 962,416

 Accumulated deficit

 ( 2,862,860
)

 ( 222,071
)

 Total stockholders' equity

 2,984,306

 741,831

 Total Liabilities and Stockholders' Equity

 $
 2,505,401

 $
 1,110,518

 F- 20

 PARENT COMPANY STATEMENT OF OPERATIONS

 Schedule of statement of operations

 For the years ended July 31,

 2025

 2024

 EXPENSE:

 General and administrative

 $
 ( 2,239,041
)

 $
 ( 401,354
)

 Selling and marketing

 ( 19,032
)

 –

 OTHER INCOME (EXPENSE)

 (Loss) gain from investment in subsidiaries

 ( 410,107
)

 502,834

 Other income (expense) net

 27,391

 ( 47,030
)

 Total other (loss) income

 ( 382,716
)

 455,804

 Net (loss) income

 $
 ( 2,640,789
)

 $

 PARENT COMPANY STATEMENT OF CASH FLOWS

 Schedule of statement of cash flow

 For the years ended July 31,

 2025

 2024

 Cash flows from operating activities:

 Net income (loss)

 $
 ( 2,640,789
)

 $

 Adjustments to reconcile net income to net cash provided by operating activities:

 Warrants issuance to consultant

 158,412

 –

 Share of (gain) loss from investment in subsidiaries

 410,107

 ( 502,834
)

 Change in operating assets and liabilities:

 Prepaid expense and other assets

 ( 137,553
)

 ( 70
)

 Accounts payable and other accrued liabilities

 ( 35,321
)

 36,623

 Net cash (used in) operating activities

 ( 2,245,144
)

 ( 411,831
)

 Cash flows from financing activities:

 Proceeds received from private offerings

 5,439,333

 513,213

 Repayment of working capital advance to related party

 ( 10,771
)

 –

 Repayment of working capital advance to subsidiary

 ( 810,000
)

 –

 Working capital advance from related party

 8,500

 342,042

 Deferred offering costs incurred

 ( 219,125
)

 ( 495,356
)

 Net cash provided by financing activities

 4,407,937

 359,899

 Net increase (decrease) in cash and cash equivalents

 2,162,793

 ( 51,932
)

 Cash and cash equivalents at beginning

 14,621

 66,553

 Cash and cash equivalents at ending

 $
 2,177,414

 $
 14,621

 NOTE
12 — SUBSEQUENT EVENTS

 In accordance with ASC 855-10, the Company's
management has performed subsequent events procedures through the date these financial statements were issued and determined that there
are no reportable subsequent events.

 F- 21

 Item 9. Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure

 Not Applicable.

 Item 9A. Controls and Procedures

 Evaluation of Disclosure
Controls and Procedures.

 We maintain "disclosure controls and procedures,"
as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the "Exchange Act"), that are designed
to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within
the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated
to our management, including our Chief Executive Officer ("CEO")/Chief Financial Officer ("CFO"), as appropriate,
to allow timely decisions regarding required disclosure. We conducted an evaluation, under the supervision and with the participation
of our CEO/CFO of the effectiveness of the design and operation of our disclosure controls and procedures as of the end of the period
covered by this report pursuant to Rule 13a-15 of the Exchange Act. Based on this evaluation and the existence of the material weaknesses
discussed below in "Management's Report on Internal Control over Financial Reporting," our management,
including our CEO/CFO concluded that our disclosure controls and procedures were not effective at the reasonable assurance level as of
the end of the period covered by this Report.

 Changes in Internal Controls.

 There was no change in internal control over financial
reporting (as defined in Rule 13a-15(f) promulgated under the Securities Exchange Act or 1934) identified in connection with the evaluation
described in the preceding paragraph that occurred during Tianci International, Inc.'s fourth fiscal quarter that has materially
affected or is reasonably likely to materially affect Tianci International, Inc.'s internal control over financial reporting.

 Management's Report on Internal
Control over Financial Reporting

 Management of the Company is responsible for establishing
and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Securities Exchange Act of 1934.
We have assessed the effectiveness of those internal controls as of July 31, 2025 using the Committee of Sponsoring Organizations of the
Treadway Commission ("COSO") Internal Control – Integrated Framework (1992) as a basis for our assessment.

 Because of inherent limitations, internal control
over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are
subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies
and procedures may deteriorate. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even
those systems determined to be effective can provide only reasonable assurance with respect to financial statement preparation and presentation.

 A material weakness in internal
controls is a deficiency in internal control, or combination of control deficiencies, that adversely affects the Company's ability
to initiate, authorize, record, process, or report external financial data reliably in accordance with accounting principles generally
accepted in the United States of America such that there is more than a remote likelihood that a material misstatement of the Company's
annual or interim financial statements that is more than inconsequential will not be prevented or detected. In the course of making our
assessment of the effectiveness of internal controls over financial reporting, we identified two material weaknesses in our internal
control over financial reporting. These material weaknesses consisted of:

 There is an inadequate segregation of duties consistent with control objectives. Our Company's management is limited in number, resulting in a situation where limitations on segregation of duties exist. In order to remedy this situation, we would need to hire additional staff to provide greater segregation of duties. Currently, it is not feasible to hire additional staff to obtain optimal segregation of duties. Management will reassess this matter in the following year to determine whether improvement in segregation of duty is feasible.

 There is a lack of formal policies and procedures necessary to adequately review significant accounting transactions. The Company utilizes a third-party independent contractor for the preparation of its financial statements. Although the financial statements and footnotes are reviewed by our management, we do not have a formal policy to review significant accounting transactions and the accounting treatment of such transactions. The third-party independent contractor is not involved in the day to day operations of the Company and may not be provided information from management on a timely basis to allow for adequate reporting/consideration of certain transactions.

 Our management will continue to monitor and evaluate
the effectiveness of our internal controls and procedures and our internal controls over financial reporting on an ongoing basis and is
committed to taking further action and implementing additional enhancements or improvements, as necessary and as funds allow. However,
because of the above condition, management's assessment is that the Company's internal controls over financial reporting were
not effective as of July 31, 2025.

 This annual report does not include an attestation
report of the Company's registered public accounting firm regarding internal control over financial reporting. Management's
report was not subject to attestation by the Company's registered public accounting firm pursuant to rules of the Securities and
Exchange Commission that permit the Company to provide only management's report in this annual report.

 Item 9B. Other Information

 Trading Arrangements. During the quarter
ended July 31, 2025, no director or officer adopted or terminated any Rule 10b5-1 trading arrangement or non-Rule 10b5-1 trading arrangement,
as each term is defined in Item 408(a) of Regulation S-K.

 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent
Inspections

 Not applicable.

 Item 10. Directors, Executive Officers and Corporate Governance

 The names of our current officers, directors and
key employees, as well as certain information about them, are set forth below:

 Name

 Age

 Position with Tianci

 Director Since

 Shufang Gao

 Director, Chief Executive Officer

 2021

 Wei Fang

 Director, Chief Financial Officer

 2021

 Ying Deng

 Director, Vice President

 2023

 Yee Man Yung

 Director

 2021

 Fan Liu

 Director

 2021

 Juan Chang

 Director

 2024

 Guilin Zhang

 Director

 2024

 Directors hold office until the annual meeting
of Tianci's stockholders and the election and qualification of their successors. Officers hold office, subject to removal at any
time by the Board, until the meeting of directors immediately following the annual meeting of stockholders and until their successors
are appointed and qualified.

 Information concerning the directors, officers
and key employees of Tianci follows:

 Shufang
Gao has worked as CEO of Hong Kong listed groups, president of domestic capital companies, and vice president of Chinese
A-share listed companies. He is familiar with the Chinese A-share capital market and the Hong Kong capital market, and has experience
in the strategic development of listed companies. Mr. Gao joined Tianci on August 26, 2021, as a member of our Board and became Chief
Executive Officer on January 27, 2023. He also served as Chief Financial Officer from April 2023 until his resignation on January 22,
2024. On the same day, he was appointed Chairman of the Board. From October 2020 to August 2021, Mr. Gao served as the Vice President
and Director of Sichuan Jinding Group. Prior to that, he was the Vice Chairman of Luoyang Yongning Nonferrous Technology Co., Ltd. from
August 2019 to September 2020. From April 2018 to July 2019, Mr. Gao served as the Vice President of Tibet Huayu Mining Co., Ltd., an
A-share listed company. He was the Chief Executive Officer of Haotian Development Group Co., Ltd. (Hong Kong Main Board Listed Company
00474) from August 2016 to September 2017. From August 2012 to August 2016, Mr. Gao served as the President of Haihua Group Holdings Co.,
Ltd., an international container leasing company. Mr. Gao received his Bachelor of Management Degree from Dalian University of Technology
in 1999. He received his Master's Degree in Finance and Accounting from the Chinese University of Hong Kong in 2008. Mr. Gao brings
to the Board his international experience in the operation and governance of listed companies.

 Wei
Fang has over ten years of experience in the securities and investment industry. He joined Tianci on August 27, 2021 as a
member of the Board and was appointed Chief Financial Officer of Tianci on January 23, 2024. Mr. Fang served as the Partner of Tiger Securities
and the CEO of Tiger Securities International in Hong Kong from May 2018 to July 2019. From January 2017 to April 2018, Mr. Fang served
as the CEO of Haotian International Securities in Hong Kong. Mr. Fang was the Head of High Net Worth Individual, Corporate Client and
ICBC Global Wealth Management Center of ICBC International in Hong Kong from October 2014 to December 2016. Mr. Fang earned a Bachelor's
degree in Economics from Anhui University of Finance and Economics in 1994. Mr. Fang obtained his Master of Business Administration Degree
from South Georgia University in 2004. Mr. Fang brings to the Board his deep experience in the securities and investment industry.

 Ying Deng
has over fifteen years of experience in corporate finance, asset management and banking. Ms. Deng became Vice President of Tianci
and was appointed to Tianci's Board in January 2023. She has been employed by RQS Capital Limited since September 2022 as a
Director responsible for business development and financial planning. Since July 2017 Ms. Deng has been employed as Director and
Chief Executive Officer by Shenzhen Dandelion Club Investment Development Co., Ltd., where she is responsible for project due
diligence and investment management. Since June 2011 Ms. Deng has been employed as a Director by Roshing International Co., Limited,
where she is responsible for strategic planning and daily operations. In 2020 Ms. Deng was awarded a Master's Degree in
Business Administration by Nankai University. She earned a Bachelor's Degree from Jinan University in 2006. Ms. Deng brings to
the Board her extensive experience in business administration.

 Yee
Man Yung has more than 5 years of experience as a human resources manager for both Hong Kong and NASDAQ listed companies.
She also has two years' experience as an assistant to board members. Ms. Yung joined Tianci on 26 August, 2021 as an independent
director of our Board. Since 2020 she has served as Human Resources Manager for Link-Asia International Med-Tech Group Limited. From 2018
to 2019 Ms. Yung was employed as Account Manager by Tiger Brokers (HK) Global Limited. Ms. Yung earned a Master's degree in Corporate
Communication from University of Leeds in 2017. Ms. Yung was previously registered with Prime Number Capital LLC as a securities broker
from January 2024 to March 2025. However, due to the incompleteness of her General Securities Representative (Series 7) registration,
her license remained inactive throughout the period, and therefore, she never engaged in any securities business activities while associated
with Prime Number Capital LLC. Ms. Yung is currently pursuing an MBA Degree at the University of South Australia. Ms. Yung brings to the
Board her human resources and public company experience as an independent director.

 Fan
Liu joined Tianci on August 26, 2021 as an independent director of our Board. Prior to joining us, Mr. Liu was the Vice
President of China Regenerative Medicine International Limited from September 2014 to October 2017. From July 2009 to August 2014,
Mr. Liu was the Investment Director of Tian Huan Investment Company. He was a financial analyst at Founder Securities (SSE:601901)
from May 2007 to June 2009. Mr. Liu received his B.A. in Engineering from Nanjing Tech University in 2001 and his Master of
Economics from Concordia University, Canada in 2006. He brings to the Board his experience and knowledge of investments and mergers
and acquisitions of companies in Hong Kong and China.

 Juan
Chang joined Tianci in January 2024 as an independent director of our Board. She has over 20 years of expertise in financial management
and corporate leadership. From 2003 to 2009, Ms. Chang served as a settlement supervisor and financial manager at Suning.com, a Shenzhen
Company, overseeing supplier accounts, accounts receivable and taking management duty. Since 2010, she held the position of Deputy General
Manager and Chief Financial Officer at Suning Easy Buy Limited in Hong Kong, where her responsibilities included achieving the Company's
business performance, financial management and risk control, asset management, financial statement issuance, and annual audit. In 2021
to 2023, she acted as the Director of Suning Financial Limited in Hong Kong, overseeing daily management and internal control supervision
of the Hong Kong Suning Financial MSO license business. Since June 2023, Ms. Chang has been serving as the Financial Director of Suning.com
South Region, responsible for financial management and supervision of companies in Guangzhou, Shenzhen, Wuhan, Haikou, Nanning, Zhongshan,
and Hong Kong. Ms. Juan Chang obtained her Bachelor of Management degree from Xi'an University of Finance and Economics in July
2003. In 2013 to 2015, She pursued further education, completing an MBA from the Chinese University of Hong Kong.

 Guilin
Zhang has a strong background in the maritime and shipping industries, with over 30 years of experience. Mr. Zhang recently joined
Tianci in January 2024 as an independent director of our Board. His career started at Singapore IMC Shipping, where he worked as a Senior
Executive in the Fleet Management Department from 1994 to 1997. Later, he became the General Manager of China Region at Wah Shun Shipping
Co., Ltd. and Best Power Holdings (HK) Limited, overseeing ship chartering and iron ore trading until 2002. He then held key roles as
Vice President at North China Shipping Holdings Ltd. and General Manager at Continental Minerals Co., Ltd. until 2011. From 2012 to 2023,
he ventured into entrepreneurship, establishing Guochuang International Holdings Co., Ltd. and GC Resources Co., Ltd., where he now serves
as Executive Director and CEO. Throughout his career, Mr. Zhang has shown exceptional expertise in fleet management, trading, and strategic
development, making him an excellent fit for the role of independent director. Mr. Zhang Graduated from Dalian Maritime University with
a Bachelor of Engineering degree in 1981.

 Family Relationships

 There are no family relationships
among any of our officers or directors.

 Corporate Governance

 Board Committees

 We
have established three committees under the board of directors: an audit committee, a compensation committee and a nominating and corporate
governance committee (the "Committees"). We have adopted a charter for each of the three committees. Each committee's
members and functions are described below.

 Audit
Committee. Our audit committee consists of Juan Chang, Fan Liu and Yee Man Yung. Juan
Chang is the chairperson of the audit committee. We have determined that Juan Chang, Fan Liu and Yee Man Yung each satisfy the
"independence" requirements of Nasdaq Listing Rule 5605(a)(2) and meets the independence standards under Rule 10A-3
under the Exchange Act. We have determined that Ms. Chen qualifies as an "audit committee financial expert." The audit
committee oversees our accounting and financial reporting processes and the audits of the financial statements of our company. The
audit committee is responsible for, among other things: (a) monitoring and reviewing: i) the integrity of the Company's
financial reports and other financial information provided by the Company to the public or any governmental body; ii) the
Company's compliance with applicable legal and regulatory requirements; iii) the qualifications and independence of the
Company's independent auditing firm and iv) the performance of the Company's independent auditors and the
Company's Internal audit function; (b) selecting and terminating the Company's independent auditors; (c) conducting any
investigation appropriate to fulfilling its responsibilities, and it shall have the authority to communicate directly with the
independent audit firm and any employee of the Company; (d) preparing and publishing an annual Committee report as required by the
SEC to be included in the Company's annual proxy statement; (e) approving in advance all audit and permissible non-audit
services to be performed by the independent auditors; (f) discussing with management the Company's risk assessment and risk
management policies.;(g) retaining outside counsel, experts and other advisors as the Committee may deem appropriate in its sole
discretion; and (h) setting policies for the hiring of employees or former employees of the Company's independent auditor. The
Audit Committee shall consist of three or more directors, who shall be appointed annually and subject to removal at any time by the
Board. No member of the Audit Committee shall receive directly any compensation from the Company other than his or her
directors' fees and benefits.

 Compensation Committee. Our
compensation committee consists of Fan Liu, Juan Chang and Guilin Zhang. Fan Liu is the chairperson of our compensation committee. We
have determined that Fan Liu, Juan Chang and Guilin Zhang each are "independent," as such term is defined for directors and
compensation committee members in the listing standards of the NASDAQ Stock Market LLC. Additionally, each qualify as "non-employee
directors" for purposes of Rule 16b-3 under the Securities Exchange Act of 1934 and as "outside directors" for purposes
of Section 162(m) of the Internal Revenue Code. The Committee has been established to: (a) have all the powers of administration under
all of the Company's employee benefit plans, including any stock compensation plans, bonus plans, retirement plans, stock purchase
plans, and medical, dental and other insurance plan; (b) assist the Board in seeing that a proper system of long-term and short-term compensation
is in place to provide performance oriented incentives to attract and retain management, and that compensation plans are appropriate and
competitive and properly reflect the objectives and performance of management and the Company; (c) have the sole authority to retain,
at the Company's expense, and terminate any compensation consultant to be used to assist in the evaluation of director or executive
compensation and shall have sole authority to approve the consultant's fees and other retention terms, The Committee shall also
have the authority to obtain advice and assistance from legal, accounting or other advisors at the Company's expense; (d) evaluate
the Company's Chief Executive Officer and set his or her remuneration package; and (e) review and assess the adequacy of this Charter
annually and recommend any proposed changes to the Board for approval. The Committee shall consist of three or more directors, who shall
be appointed annually and subject to removal at any time, by the Board.

 Nominating and Corporate
Governance Committee. Our nominating and corporate governance committee consists of
Yee Man Yung, Juan Chang and Fan Liu. Yee Man Yung is the chairperson of our nominating and corporate governance committee. We have determined
that each of Yee Man Yung, Juan Chang and Fan Liu qualify as "independent" as that term is defined by Nasdaq Listing Rule
5605(a)(2). The Committee is responsible for: (a) assisting the Board in identifying individuals qualified to become Board members and
recommending to the Board the director nominees for each annual meeting of stockholders; (b) recommending to the Board Corporate Governance
Principles applicable to the Company; (c) leading the Board in its annual review of the performance of the Board and its committees; (d)
recommending to the Board director nominees for each committee; (e) developing criteria for selection of members of the Board and its
committees and reviewing with the Board, on an annual basis, the requisite skills and characteristics of new Board members as well as
the composition of the Board as a whole; (f) recommending individuals qualified to become Board members to the Board; (g) reviewing and
re-assessing the adequacy of this Charter and the Company's Corporate Governance Principles annually and recommending any proposed
changes to the Board for approval. The Committee shall be comprised of no less than three directors, the exact number to be determined
by the Board of Directors.

 Director Independence

 The
Board of Directors has determined that Juan Chang, Fan Liu, Guilin Zhang and Yee Man Yung are independent directors, as the term "independent"
is defined by the Rule 5605(a)(2) of the Listing Rules of the Nasdaq Stock Market and Rule 10A-3 under the Exchange Act.

 Code of Ethics

 We have adopted the Tianci International Inc.
Code of Business Conduct and Ethics, a code of ethics that applies to our Chief Executive Officer, Chief Financial Officer, Chief Accounting
Officer, and other employees. The Code of Ethics is publicly available as an exhibit to this Annual Report. If we make any substantive
amendments to the Code of Ethics or grant any waiver, including any implicit waiver, from a provision of the code to our Chief Executive
Officer, Chief Financial Officer, or Chief Accounting Officer, we will disclose the nature of the amendment or waiver in a report on Form
8-K.

 Our Code of Ethics includes insider trading
policies and procedures applicable to our directors, officers, and employees. We have implemented processes for the company that we believe
are reasonably designed to promote compliance with insider trading laws, rules, and regulations, and the Nasdaq Stock Market LLC listing
standards.

 Section 16(a) Beneficial Ownership Reporting Compliance

 The Company registered pursuant to Section 12(b) of the Securities
Exchange Act on April 8, 2025. The obligation of officers, directors and 10% shareholders to file Form 4 accrued on April 18. To date,
none of the officers, directors or 10% shareholders have filed Form 4.

 Item 11. Executive Compensation

 Tianci International,
Inc.

 Tianci has paid no cash compensation to any
officer or director during the past two fiscal years. Unpaid compensation has been accrued pursuant to the Employment Agreements and Director
Retainer Agreements described below. On January 19, 2024 the Company issued shares of its common stock in satisfaction of accrued compensation
due to current officers and members of the Board as follows:

 Wei Fang – 64,600 shares

 Fan Liu – 22,100 shares

 Yee Man Yung – 22,100 shares

 The shares were valued at $1.00 per share.

 RQS United Group
Limited

 RQS United did not pay
compensation to any officer or director for services in those roles during its past two fiscal years.

 Roshing International Co., Limited

 Roshing pays Ying Deng,
its Manager, and Shufang Gao, its CEO, a salary of HKD 30,000 (USD 3,860) and HKD 40,000 (USD 5,147) per month, respectively.

 Employment Agreements with
Key Executives

 Employment Agreements

 On August 27, 2021, we entered into employment
agreements with each of Shufang Gao and Wei Fang and on January 27, 2023, we entered into an employment agreement with Ying Deng (collectively,
the "Employment Agreements"), whereby each individual agreed to serve as an Executive Director for monthly compensation equal
to U.S. $3,800. Each Employment Agreement expires after three years, unless earlier terminated by death, resignation or removal.

 We are entitled to terminate each Employment
Agreement for "cause" without notice or remuneration (unless otherwise required by law) if: (i) the executive is convicted
or pleads guilty to a felony or to an act of fraud, misappropriation or embezzlement; (ii) the executive has been grossly negligent or
acted dishonestly to the detriment of the Company; (iii) the executive has engaged in actions amounting to willful misconduct or failed
to perform his duties hereunder and such failure continues after the executive is afforded a reasonable opportunity to cure such failure;
or (iv) the executive violates the provisions relating to confidentiality, non-competition and non-solicitation of the Employment Agreement.
Upon a termination for "cause," the executive shall not be entitled to any severance or other benefits under the Employment
Agreement but shall be entitled to receive accrued base salary.

 If the Employment Agreement is terminated
due to the executive's death or disability, the executive shall be entitled to receive accrued base salary.

 If the Employment Agreement is terminated
by the Company without "cause", the executive will receive a lump sum payment equal to 12 months of base salary, a lump sum
cash payment equal to a pro-rated amount of his/her target annual bonus for the year immediately preceding the termination, payment of
premiums for continued health benefits under the Company's health plans for 12 months following termination, and immediate vesting
of 100% of the then-unvested portion of outstanding equity awards held by the executive, if any.

 If the Employment Agreement is terminated
due to a change in control, the executive will receive a lump sum payment equal to 12 months of base salary, a lump sum cash payment equal
to a pro-rated amount of his/her target annual bonus for the year immediately preceding the termination, and immediate vesting of 100%
of the then-unvested portion of any outstanding equity awards held by the executive.

 If the Employment Agreement is terminated
by the executive due to (1) a material reduction in the executive's authority, duties and responsibilities, or (2) a material reduction
in the executive's annual salary, the executive will receive a lump sum payment equal to 12 months of base salary.

 Director Retainer Agreements

 We also
maintain seven director retainer agreements with our officers and directors. The agreements have terms of 3 years. The monthly compensation
for director is $3,800, and $1,300 for independent directors. The Director Retainer Agreements contain normal and customary terms including
provisions relating to indemnification and confidentiality

 Stock Incentive Plan

 Overview

 On April 25, 2024, the Board and majority
stockholder adopted the Tianci International, Inc. 2024 Equity Incentive Plan (the "2024 Plan"). The Plan provides for the
grant of the following types of stock awards: (a) incentive stock options, (b) stock appreciation rights, (c) restricted stock, (d) restricted
stock unit and deferred stock units and (e) performance shares. The Plan is intended to enable the Company and its affiliated companies
to recruit and retain highly qualified personnel, to provide those personnel with an incentive for productivity and to provide those personnel
with an opportunity to share in the growth and value of the Company. The Company reserved 7,000,000 shares of common stock issuable upon
the grant of awards under the Plan. As of the date of this report, we have not issued any shares of common stock to our employees, any
directors, consultants or any other individuals under the Plan.

 Plan
Administration

 The Plan will be administered by the Committee.
The Committee will have full authority to grant Awards under this Plan. In particular, subject to the terms of the Plan, the Committee
will have the authority: (a) to select the Persons to whom Awards may from time to time be granted hereunder; (b) to determine the type
of Award to be granted to any Person hereunder; (c) to determine the number of Shares, if any, to be covered by each Award; (d) to establish
the terms and conditions of each Award Agreement; (e) to adopt, alter and repeal such administrative rules, guidelines and practices governing
the Plan as it, from time to time, deems advisable; (f) to interpret the terms and provisions of the Plan and any Award issued under the
Plan (and any Award Agreement); (g) to correct any defect, supply any omission or reconcile any inconsistency in the Plan or in any Award
Agreement in the manner and to the extent it deems necessary to carry out the intent of the Plan; and (h) to otherwise supervise the administration
of the Plan. All decisions made by the Committee pursuant to the provisions of the Plan will be final and binding on all persons, including
the Company and Participants. No Director will be liable for any good faith determination, act or omission in connection with the Plan
or any award.

 Eligibility

 Employees, Directors, consultants, and other
individuals who provide services to the Company or its Affiliates are eligible to be granted Awards under the Plan; provided, however,
that only employees of the Company, its parent or a subsidiary are eligible to be granted Incentive Stock Options.

 Timing of Stock
Option Grants

 Our Compensation Committee
has not yet granted any awards under a stock incentive plan. Nevertheless, our Board of Directors and our Compensation Committee have
adopted policies mandating that they will not grant equity awards when they anticipate the release of material nonpublic information
that is likely to result in a change to the price of our common stock, and will not time the public release of such information based
on award grant dates. During the last completed fiscal year, we did not make awards to any named executive officer or director during
the period beginning four business days before and ending one business day after the filing of a periodic report on Form 10-Q or Form
10-K or the filing or furnishing of a current report on Form 8-K, and we did not time the disclosure of material nonpublic information
for the purpose of affecting the value of executive compensation.

 Employee Pension, Profit Sharing or other
Retirement Plans

 We do not have a defined benefit, pension
plan, profit sharing or other retirement plan, although we may adopt one or more of such plans in the future.

 Outstanding Equity Awards at Fiscal Year End

 During the past three fiscal years, none of our executive officers
received any equity awards, including options, restricted stock or other equity incentives, from either Tianci, RQS United or Roshing.

 Clawback Policy

 Our Board of Directors
and Compensation Committee have adopted a clawback policy that may be applied in the event of a material financial restatement. The clawback
policy covers executive officers and includes all incentive compensation given to executive officers. Specifically, in the event of
an accounting restatement, we must recover, reasonably promptly, any excess incentive compensation during the three completed fiscal
years immediately preceding the date on which we are required to prepare an accounting restatement. Compensation that may be recoverable
under the policy includes cash or equity-based compensation for which the grant, payment or vesting is or was based wholly or in part
on the attainment of a financial reporting measure. The amount to be recovered will be the excess of the incentive compensation paid
based on the erroneous data over the incentive compensation that would have been paid had it been based on the restated results. The
full text of our Clawback Policy is included as Exhibit 97.1 to this annual report.

 Item 12. Security Ownership of Certain Beneficial Owners and Management

 The following table sets forth information with
respect to the securities holdings of (i) Tianci's officers and directors, and (ii) all persons which, pursuant to filings with
the SEC and our stock transfer records, we have reason to believe may be deemed the beneficial owner of more than five percent (5%) of
any class of Tianci's voting stock. The securities "beneficially owned" by an individual are determined in accordance
with the definition of "beneficial ownership" set forth in the regulations promulgated under the Exchange Act and, accordingly,
may include securities owned by or for, among others, the spouse and/or minor children of an individual and any other relative who resides
in the same home as such individual, as well as other securities as to which the individual has or shares voting or investment power or
which each person has the right to acquire within 60 days through the exercise of options or otherwise. This table has been prepared based
on 80,000 shares of Series B Preferred Stock and 16,531,803 shares of Common Stock outstanding as of the date of filing of this Report.
Unless otherwise specified, the address of each of the persons set forth below is in care of Tianci.

 Common Stock

 Series B Preferred

 Name of
 Beneficial Owner

 Amount and Nature of
 Beneficial Ownership (1)

 Percentage
 of Class

 Amount and Nature of
 Beneficial Ownership (1)

 Percentage
 of Class

 Total Voting Power

 Shufang Gao

 14,150,362
 (2)

 57.68%

 (3)

 100%

 57.68%

 Wei Fang

 64,600

 0.39%

 –

 –

 0.26%

 Ying Deng

 50,000

 0.30%

 –

 –

 0.20%

 Yee Man Yung

 22,100

 0.13%

 –

 –

 0.09%

 Fan Liu

 22,100

 0.13%

 –

 –

 0.09%

 Juan Chang

 –

 –

 –

 –

 –

 Guilin Zhang

 –

 –

 –

 –

 –

 All officers and directors as a group (7 persons)

 14,309,162
 (2)

 58.33%

 (3)

 100%

 58.33%

 Zhigang Pei

 2,124,109
 (3)

 12.85%

 –

 –

 8.66%

 ______________________________

 (1)

 Ownership is of record and beneficial unless otherwise noted.

 (2)

 Includes 6,100,362 shares of common stock owned of record by RQS Capital Limited and 8,000,000 shares of common stock issuable on conversion of Series B Preferred Stock owned of record by RQS Capital Limited. Shufang Gao holds voting and dispositive power over shares held by RQS Capital Limited.

 (3)

 Includes 1,793,000 shares owned of record by Silver Glory Group Limited, of which Zhigang Pei is the beneficial owner.

 Item 13. Certain Relationships and Related Transactions and Director
Independence

 Related Party Transactions

 There has been no transaction since August 1, 2024,
or any currently proposed transaction, in which Tianci, RQS United or Roshing was or are to be a participant and the amount involved exceeded
or exceeds the lesser of $120,000 or one percent of the average of the total assets of Tianci at year-end for the last two completed fiscal
years, and in which any related person had or will have a direct or indirect material interest.

 Review, approval or ratification of transactions with related
persons

 We have adopted
"The Review Policy for Related Party Transaction", which has the purpose of ensuring transactions with the Company and its
affiliates are consistent with the principles of fair dealing and to minimize the potential conflicts of interest and moral hazard. The
policy encompasses procedures related to review, disclosure requirements, conflict resolution, and approval of penalties for violations.

 Director Independence

 The Board of Directors has determined that Fan
Liu, Yee ManYung, Juan Chang and Guilin Zhang are the only members of our Board of Directors who are independent, as "independent"
is defined in the rules of Nasdaq.

 Item 14. Principal Accountant Fees and Services

 Audit Fees

 Bush & Associates,
CPA billed $120,000 in connection with the audit of the Company's financial statements for the year ended July 31, 2025. Bush
& Associates, CPA billed $60,000 in connection with the audit of the Company's financial statements for the year ended
July 31, 2024.

 Audit-Related Fees

 Bush & Associates, CPA did not bill the Company
for any Audit-Related fees in fiscal 2025. Bush & Associates, CPA did not bill the Company for any Audit-Related fees in fiscal 2024.

 Tax Fees

 Bush & Associates did not bill the Company
for professional services rendered for tax compliance, tax advice and tax planning in fiscal 2025. Bush & Associates did not bill
the Company for professional services rendered for tax compliance, tax advice and tax planning in fiscal 2024.

 All Other Fees

 Bush & Associates, CPA did not bill the Company
for any other fees in fiscal 2025. Bush & Associates, CPA did not bill the Company for any other fees in fiscal 2024.

 It is the policy of the Company that all services,
other than audit, review or attest services, must be pre-approved by the Board of Directors.

 Item 15. Exhibits and Financial Statement Schedules

 Exhibits

 3.1(a)

 Articles of Incorporation of Tianci International, Inc. (1)

 3.1(b)

 Articles of Amendment of Articles of Incorporation of Tianci International, Inc. – filed as exhibit to the Current Report on Form 8-K filed on January 27, 2023

 3.1(c)

 Certificate of Designation of Series B Preferred Stock – filed as an exhibit to Current Report on Form 8-K filed on April 26, 2024

 3.2

 Amended and Restated Bylaws - filed as an exhibit to Current Report on Form 8-K filed on August 14, 2024

 10.1

 Employment Agreement dated August 27, 2021 between Shufang Gao and Tianci International, Inc. (2)

 10.2

 Employment Agreement dated August 27, 2021 between Wei Fang and Tianci International, Inc. (2)

 10.3

 Employment Agreement dated January 23, 2023 between Ying Deng and Tianci International Inc. (4)

 10.4

 Tianci 2024 Equity Incentive Plan (3)

 14.1

 Code of Business Conduct and Ethics (3)

 14.2

 The Review Policy for Related Party Transactions (3)

 Subsidiaries (4)

 31.1

 Rule 13a-14(a) Certification of Principal Executive Officer

 31.2

 Rule 13a-14(a) Certification of Principal Financial Officer

 32.1

 Rule 13a-14(b) Certification of Principal Executive Officer

 32.2

 Rule 13a-14(b) Certification of Principal Financial Officer

 Mandatory Recoupment Policy

 101.INS

 101.SCH

 101.CAL

 101.DEF

 101.LAB

 101.PRE

 (1)

 Filed as an exhibit to the Registration Statement on Form S-1 filed on September 24, 2012 and incorporated herein by reference.

 (2)

 Filed as an exhibit to the Annual Report on Form 10-K for the year ended July 31, 2022 and incorporated herein by reference.

 (3)

 Filed as an exhibit to Registration Statement on Form S-1 (File No. 333-280089) and incorporated herein by reference.

 (4)

 Filed as an exhibit to the Annual Report on Form 10-K for the year ended July 31, 2023 and incorporated herein by reference.

 Item 16. Form 10-K Summary

 None.

 SIGNATURES

 In accordance with Section 13 or 15(d) of the
Exchange Act, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 TIANCI INTERNATIONAL,
 INC.

 Date: October 3, 2025

 /s/ Shufang Gao

 By: Shufang Gao

 Title: Chief Executive Officer

 Date: October 3, 2025

 /s/ Wei Fang

 By: Wei Fang

 Title: Chief Financial and Accounting Officer

 In accordance with the Exchange Act, this Report
has been signed below on October 3, 2025 by the following persons, on behalf of the Registrant and in the capacities and on the dates
indicated.

 /s/ Shufang Gao

 Shufang Gao, Chairman of the Board, Chief Executive Officer

 /s/ Wei Fang

 Wei Fang, Director, Chief Financial Officer

 /s/ Ying Deng

 Ying Deng, Director

 /s/ Fan Liu

 Fan Liu, Director

 /s/ Yee Man Yung

 Yee Man Yung, Director

 /s/ Juan Chang

 Juan Chang, Director

 /s/ Guilin Zhang

 Guilin Zhang, Director