WF International Limited

What they do

The company operates through Chengdu Shanyou HVAC Engineering Co., Ltd. and related entities to provide heating, ventilation, and air conditioning engineering services in China. Its functional currency is the Renminbi, and it reports in U.S. dollars. It conducts business primarily via wholly owned subsidiaries in Hong Kong and the PRC.

Revenue drivers

• HVAC engineering services — The company generates revenue through Chengdu Shanyou HVAC Engineering Co., Ltd., its main PRC operating subsidiary, which provides HVAC engineering services. This appears to be the primary source of revenue, though specific segment breakdowns are not provided in the excerpts.
• Business information consulting — Sichuan Shanyou Zhiyuan Business Information Consulting Co., Ltd. is a PRC subsidiary that may provide consulting services, but its contribution to revenue is not detailed in the excerpts.
• Innovation technology — Chengdu Wufang Boyuan Innovation Technology Co., Ltd. is a PRC subsidiary that may engage in technology-related activities, but its revenue contribution is not specified in the excerpts.

Recent performance

For fiscal year 2025, revenue was $13.4 million, down from $15.5 million in 2024. Net loss was $3.3 million, compared to net income of $962,740 in 2024. Diluted EPS was -$0.53, versus $0.18 in 2024. Operating cash flow was -$1.1 million, compared to $826,537 in 2024. At September 30, 2025, total assets were $13.7 million, total liabilities $8.9 million, and shareholder equity $4.8 million.

Strategy

The excerpts do not provide detailed strategic initiatives or future plans. The company operates through its PRC subsidiaries and may seek to grow its HVAC engineering business, but no specific strategy is outlined in the provided text.

Risks

• Revenue decline and losses — Revenue decreased to $13.4 million in 2025 from $15.5 million in 2024, and net loss was $3.3 million, indicating deteriorating financial performance.
• Negative operating cash flow — Operating cash flow was -$1.1 million in 2025, compared to positive $826,537 in 2024, which may strain liquidity.
• Foreign private issuer and PRC operations — As a Cayman holding company with operations in China, the company is subject to PRC regulations and risks related to foreign investment and cross-border operations.
• Customer concentration — The excerpts do not specify customer concentration, but as a small HVAC contractor, the company may rely on a limited number of customers, though this is not confirmed in the provided text.

Outlook

The excerpts do not include management's forward-looking statements or outlook for future periods. No guidance or specific expectations are provided in the available text.