Cheetah Net Supply Chain Service Inc.CTNT
What Cheetah Net Supply Chain Service Inc. does.
We are a provider of logistics and warehousing services, historically in connection with the sale of parallel-import vehicles sourced in the U.S. to be sold in the PRC market, and more recently for the transportation of other goods between the U.S. and the PRC. Parallel-import vehicles in the PRC refer to automobiles purchased directly from overseas markets and imported for sale outside of the brand manufacturers’ official distribution networks.
Between 2016 and the first half of 2022, we experienced growth in sales volume and gross profit in the parallel-import vehicle business due to favorable market conditions. Beginning in the second half of 2023, the business was negatively affected by a decline in customer demand due to weakening macroeconomic conditions, price competition from luxury automakers in the PRC, and a shift in consumer preference toward domestic electric vehicles (“EVs”). These market challenges led to a decline in parallel-import vehicle sales by 30.5% in 2023, and 95.7% in 2024, with vehicle sales declining to 14 units in 2024 from 303 units in 2023. In addition, we recorded a credit loss of $1.6 million for the year ended December 31, 2024, due to the increasing difficulty in collecting outstanding receivables.
Revenue and profit, by fiscal year.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | — | $55.2M | $38.3M | $455,805 | $1.3M |
| Net income | — | $816,980 | $133,870 | -$5.2M | -$3.6M |
| Free cash flow | — | — | — | -$122,780 | — |
More on CTNT.
- Cheetah Net Supply Chain Service Inc. summary
- Cheetah Net Supply Chain Service Inc. financial statements
- Cheetah Net Supply Chain Service Inc. key metrics
- Cheetah Net Supply Chain Service Inc. health scores and style box
- Cheetah Net Supply Chain Service Inc. earnings
- Cheetah Net Supply Chain Service Inc. dividends
- Cheetah Net Supply Chain Service Inc. valuation
- Cheetah Net Supply Chain Service Inc. ownership and insiders
- Cheetah Net Supply Chain Service Inc. peers
Figures from Cheetah Net Supply Chain Service Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.