Organization and Nature of Business

6 Months Ended

Dec. 31, 2023

Organization and Nature of Business [Abstract]

ORGANIZATION AND NATURE OF BUSINESS

Note 1. ORGANIZATION AND NATURE OF BUSINESS

The Company is an integrated logistics solution provider that was founded in the United States in 2001. On September 18, 2007, the Company merged into a new corporation, Sino-Global Shipping America, Ltd. in Virginia. On January 3, 2022, the Company changed its corporate name from Sino-Global Shipping America, Ltd. to Singularity Future Technology Ltd. to reflect its then expanded operations into the digital assets business. Currently, we primarily focus on providing freight logistics services, which include shipping, warehouse services and other logistical support to steel companies .

In 2017, we began exploring new opportunities to expand our business and generate more revenue. These opportunities ranged from complementary businesses to other new services and product initiatives. Beginning in fiscal 2022, we expanded our services to include warehousing services provided by our U.S. subsidiary Brilliant Warehouse Service Inc.

We are currently engaged in providing freight logistics services including warehouse services, which are operated by our subsidiaries Trans Pacific Shipping Limited and Ningbo Saimeinuo Web Technology Ltd. in China and Gorgeous Trading Ltd. and Brilliant Warehouse Service Inc. in the United States. Our range of services include transportation, warehouse, collection, last-mile delivery, drop shipping, customs clearance, and overseas transit delivery.

As of December 31, 2023, the Company’s subsidiaries included the following:

Name	Background		Ownership
Sino-Global Shipping New York Inc. (“SGS NY”)	●	A New York corporation	100% owned by the Company
	●	Incorporated on May 03, 2013
	●	Primarily engaged in freight logistics services
Sino-Global Shipping HK Ltd. (“SGS HK”)	●	A Hong Kong corporation	100% owned by the Company
	●	Incorporated on September 22, 2008
	●	No material operations
Thor Miner Inc. (“Thor Miner”)	●	A Delaware corporation	51% owned by the Company
	●	Incorporated on October 13, 2021
	●	Primarily engaged in sales of crypto mining machines
	●	No material operations
Trans Pacific Shipping Ltd. (“Trans Pacific Beijing”)	●	A PRC limited liability company	100% owned by the Company
	●	Incorporated on November 13, 2007.
	●	Primarily engaged in freight logistics services

Name	Background		Ownership
Trans Pacific Logistic Shanghai Ltd. (“Trans Pacific Shanghai”)	●	A PRC limited liability company	90% owned by Trans Pacific Beijing
	●	Incorporated on May 31, 2009
	●	Primarily engaged in freight logistics services
Blumargo IT Solution Ltd. (“Blumargo”)	●	A New York corporation	100% owned by SGS NY
	●	Incorporated on December 14, 2020
	●	No material operations
Gorgeous Trading Ltd (“Gorgeous Trading”)	●	A Texas corporation	100% owned by SGS NY
	●	Incorporated on July 01, 2021
	●	Primarily engaged in warehouse related services
Brilliant Warehouse Service Inc. (“Brilliant  Warehouse”)	●	A Texas corporation	51% owned by SGS NY
	●	Incorporated on April 19, 2021
	●	Primarily engaged in warehouse house related services
Phi Electric Motor In. (“Phi”)	●	A New York corporation	51% owned by SGS NY
	●	Incorporated on August 30, 2021
	●	No operations
SG Shipping & Risk Solution Inc, (“SGSR”)	●	A New York corporation	100% owned by the Company
	●	Incorporated on September 29, 2021
	●	No material operations
SG Link LLC (“SG Link”)	●	A New York corporation	100% owned by SG Shipping & Risk Solution Inc
	●	Incorporated on December 23, 2021
	●	No material operations
New Energy Tech Limited (“New Energy”)	●	A New York corporation	100% owned by the Company
	●	Incorporated on September 19, 2023
	●	No material operations
Singularity(Shenzhen) Technology Ltd. (“SGS Shenzhen”)	●	A Mainland China corporation	100% owned by the Company
	●	Incorporated on September 4, 2023
	●	No material operations