Lucide Ledger

A filing-first public record from Lucide House.

Issue 001 | U.S. Pilot | US

BANL

CBL International Ltd

Screen state: Passing Source state: Verified 20-F | 2026-04-17 Filing currency: USD
Open Filing Back to Register Report a correction
Internal NCAV Discount 40.9%

GNNI internal NCAV discount calculation. Market context inputs are retained internally and are not displayed.

Current Assets
75,126,848USD
Total Liabilities
55,825,609USD
NCAV
19,301,239USD
Cash
9,325,274USD
NCAV per share
0.97USD/share
Evidence
4 annual | 3 quarterly

Mary filing review

Financial Statement Evidence

Deterministic observations from the frozen Mary Reason Card. They annotate filing evidence and do not determine screen inclusion.

Not captured in this issue’s Mary run.

This archived issue is not backfilled with observations from a later screening run.

Business Profile

Published only when a substantive filing-text profile has been prepared for this issue.

Not available for this issue.

A substantive filing-text profile was not prepared for this company. Financial statement evidence and filing links remain available above for direct inspection.

Share Count & Per-Share Comparability

Normalized share-count evidence has not been imported for this company.

Known Unknowns

Only 3 quarterly periods available from Data Vault for this company.

Medium | Share Count

The current U.S. Pilot does not yet evaluate share-count trends or post-filing dilution beyond Mary's screening flags.

Low | Classification

U.S. Pilot rows are surfaced for source inspection and may still need manual business classification review.

Annual Financials

Latest annual periods, newest first. Missing cells render as n/a.

Metric
2025-12-31
20-F
USD
2024-12-31
20-F
USD
2023-12-31
20-F
USD
2022-12-31
20-F
USD
Revenue 538,489,831 592,517,545 435,897,718 462,906,257
Operating Income -2,433,232 -3,327,590 1,661,827 4,760,343
Net Income -2,989,471 -3,871,413 1,132,650 3,685,000
Cash From Operations 3,996,097 -1,943,216 -10,032,854 3,499,133
Capex -2,641 -144,446 -773,863 -373,111
Free Cash Flow 3,993,456 -2,087,662 -10,806,717 3,126,022
Cash And Equivalents 9,325,274 8,020,871 7,402,890 5,032,890
Accounts Receivable 39,017,369 36,679,605 25,125,851 18,446,176
Inventory n/a n/a n/a n/a
Total Current Assets 75,126,848 68,339,912 52,126,915 23,732,845
Total Assets 75,714,434 69,291,809 53,461,908 25,597,013
Total Current Liabilities 55,755,071 46,489,716 27,974,389 13,255,752
Total Liabilities 55,825,609 46,525,076 28,168,762 13,484,828
Shareholders Equity 19,888,825 22,908,668 25,299,675 12,112,185
Shares Outstanding 27,500,327 27,500,000 25,000,000 21,250,000
Shares Outstanding Diluted n/a n/a n/a n/a
Weighted Avg Shares Diluted 27,500,327 27,500,000 25,000,000 21,250,000
Weighted Avg Shares Basic 27,500,327 27,500,000 25,000,000 21,250,000
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence Insufficient evidence
Quarterly Financials

Latest quarterly periods, newest first. Periods are shown only when Data Vault has them.

Only 3 quarterly periods available from Data Vault for this company.

Metric
2023-06-30
6-K
USD
2022-12-31
6-K
USD
2022-06-30
6-K
USD
Revenue 191,955,811 462,906,257 235,696,705
Operating Income 1,494,747 4,760,343 1,547,106
Net Income 1,153,445 3,685,000 1,088,896
Cash From Operations -7,236,872 3,499,133 759,089
Capex -541,750 -373,111 -7,909
Free Cash Flow -7,778,622 3,126,022 751,180
Cash And Equivalents 10,430,980 5,032,890 n/a
Total Current Assets 52,648,962 23,732,845 n/a
Total Liabilities 28,474,116 13,484,828 n/a
Shares Outstanding 25,000,000 21,250,000 n/a
Shares Outstanding Diluted n/a n/a n/a
Weighted Avg Shares Diluted 25,000,000 21,250,000 21,250,000
Weighted Avg Shares Basic 25,000,000 21,250,000 21,250,000
Net Share Count Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence
Ownership Claim Change (Normalized) Insufficient evidence Insufficient evidence Insufficient evidence
Audit Trail

NCAV Audit

Official-source inputs remain linked to filing provenance. Derived values are labeled as such.

Input Value Source concept Filing period Confidence Provenance
Current Assets 52,648,962USD us-gaap:AssetsCurrent 2023-06-30 1.00 Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Total Liabilities 28,474,116USD us-gaap:Liabilities 2023-06-30 1.00 Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Cash 10,430,980USD us-gaap:CashAndCashEquivalentsAtCarryingValue 2023-06-30 1.00 Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Shares Outstanding 25,000,000 us-gaap:CommonStockSharesOutstanding 2023-06-30 1.00 Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
NCAV 24,174,846USD derived 2023-06-30 n/a company-evidence-v1 | total_current_assets - total_liabilities
NCAV per share 0.97USD derived 2023-06-30 n/a company-evidence-v1 | NCAV / shares_outstanding
Internal NCAV Discount 40.9% derived 2023-06-30 n/a gnni_publication_pack | internal_discount

NCAV = total_current_assets - total_liabilities | NCAV per share = NCAV / shares_outstanding

Source Provenance

Data Source
Data Vault
Data Vault Root
Local evidence | The Data Vault
CIK
0001914805
Company ID
n/a
Selected Annual Source
Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Selected Quarterly Source
Data Vault | sec/companyfacts/cik=0001914805/companyfacts.json
Statement Extractor
companyfacts-screener-v1
View Extractor
companyfacts-screener-v1
Source Accession Count
5
Imported At
2026-07-18T12:27:39+00:00
Rendered At
2026-08-16T03:29:38+00:00

Run Audit

Mary Run
7597e71d9e0c42a48d3fa1ce89682485
Mary As Of
2026-07-11
Accession
0001493152-26-017832
CIK
0001914805
Mary Filing Date
2026-04-17
Filing Currency
USD
Internal Discount
40.9%
Source State
Verified
Market Context
Not Displayed
Market Policy
internal_only_not_redistributed
Share Trend
Not Evaluated
Dilution
Needs Review

mary_run=7597e71d9e0c42a48d3fa1ce89682485; mary_as_of=2026-07-11; mary_filing_date=2026-04-17; mary_accession=0001493152-26-017832; mary_cik=0001914805; gnni_supporting_filing_date=2026-04-17; internal_discount=0.40871; mary_reason=Mary's deterministic net-net screen flagged this candidate. The internal discount is shown; raw market-data fields are not published in this pilot.

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