SHENGFENG DEVELOPMENT Ltd

SHENGFENG DEVELOPMENT Ltd (ticker: SFWL) is an NASDAQ-listed trucking & courier services (no air) company. DredgeCap's structured extraction of SFWL's SEC filings surfaces 1 active risk signal, including 1 auditor-change signal. SFWL reported $572.48M in revenue and $11.93M for the period ending 2025-12-31, with operating cash flow of $16.10M. Cash and equivalents stood at $35.29M (up 1.8% year-over-year). Total assets of $346.97M exceed total liabilities of $208.10M. Each signal on this page is sourced verbatim from the underlying SEC filing. Use the tabs above to drill into auditor history, going-concern citations, dilution mechanics, cash runway, and the full risk-flag inventory.

SFWL Risk Flags

Consolidated view of every risk_flag row SFWLhas surfaced across DredgeCap's extractor pipeline (auditor changes, late filings, delistings, going-concern, dilution, etc.). Each row carries a verbatim source_excerpt and links to the source SEC filing on EDGAR.

Category	Severity	Source	Excerpt	EDGAR
Auditor Change	medium	20-F · Mar 28, 2025	PCAOB-tagged auditor in 20-F filed 2025-03-28 (accession 0001013762-25-003699) was 'Marcum Asia CPAs llp' (PCAOB Firm ID: 5395). Prior 20-F/A filed 2024-04-22 (accession 0001213900-24-034909) was 'Friedman LLP' (PCAOB Firm ID: 711).	view ↗

Related on SFWL

Auditor & opinion →

Source for auditor_change + going-concern flags.

Share-count dilution →

Source for dilution + convertible-debt flags.

Risk-flag rows are produced by DredgeCap's extractor pipeline (lib/extract-auditor-changes, extract-late-filings, etc.). Each row carries a verbatim source_excerpt from the underlying SEC filing — no AI-generated language. Refresh runs daily. Not financial advice.