Sino Green Land Corporation

What they do

The company collects and sources PET bottle bundles from Cambodia, Southeast Asia and New Zealand, then processes them through sorting, cutting, crushing, washing, cleaning, drying, separating and recycling into flakes or strapping belt. Finished product is sold to local and overseas trading companies. Operations run through its subsidiary Tian Li Eco Holdings Sdn. Bhd., a Malaysian company acquired by Sunshine Green Land Corp. in June 2023. It has two factories totalling about 8,759.83 square meters and has engaged in recycled products manufacturing in Malaysia since 2019.

Revenue drivers

• Recycled plastic products (PET flakes and strapping belt) — The company's only described product line: PET bottle bundles are converted into flakes or strapping belt and sold to local and overseas trading companies. This is the sole source of revenue in the reported financials.
• Third-party sourced plastic recycled products — The most recent 10-Q attributes revenue growth to increased sales of third-party sourced plastic recycled products, rather than only internally processed output.

Recent performance

For the three months ended March 31, 2026, net revenues were $334,766, up 69% from $197,940 a year earlier, but the company still reported a gross loss of $78,936 and a net loss of $306,008. For the nine months ended March 31, 2026, net revenues were $1,060,984, up 38% from $771,446, with a gross loss of $203,298 and a net loss of $718,959. Full-year fiscal 2025 revenue was $1.3 million with a net loss of $1,808,994, down from $2.1 million of revenue in fiscal 2024. At March 31, 2026, total assets were $5.0 million, total liabilities $7.8 million and shareholder equity was negative $2.9 million.

Strategy

The company states a mission of advocating waste recycling and aims to become a prominent environmental recycling entity in Asia over the coming five years. Its stated model is to source PET bottle bundles regionally (Cambodia, Southeast Asia, New Zealand) and process them into flakes and strapping belt for trading companies. In the latest quarter it cited commissioning of a new production line as a factor in lower cost of revenues, and said it intends to appoint independent directors and redesign financial processes to fix identified material weaknesses.

Risks

• Going concern — The company reported an accumulated deficit of $5,419,512 and a stockholder deficit of $2,873,004 at March 31, 2026, and its auditors raised substantial doubt about its ability to continue as a going concern.
• Persistent losses and negative operating cash flow — Net losses and operating cash outflows have recurred for years, including a $1,808,994 net loss and $845,971 of cash used in operating activities in fiscal 2025.
• Material weaknesses in controls — The company disclosed material weaknesses including no functioning independent audit committee or independent board, inadequate segregation of duties, and insufficient personnel with U.S. GAAP and SEC reporting experience.
• Raw material and product concentration — The business depends on PET bottle bundle supply from Cambodia, Southeast Asia and New Zealand, and on sales of a single recycled plastic product line to trading companies.

Outlook

Management attributes recent revenue growth to higher sales of third-party sourced plastic recycled products and lower cost of revenues, partly from a new production line and reduced raw material impurities. It has not provided specific forward revenue or earnings guidance in the excerpts. The going-concern language and negative equity mean future financing may be required, and management notes that any such financing could carry restrictive terms or be dilutive.