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About Cheetah Net Supply Chain Service Inc. (CTNT)
Cheetah Net Supply Chain Service Inc. (CTNT) operates as a specialized supplier in the automotive industry, focusing on the acquisition and resale of parallel-import vehicles. These vehicles are sourced from overseas markets, primarily the United States, and sold in China through alternative channels outside of the official distribution networks established by brand manufacturers. This business model allows the company to cater to a niche market segment, offering customers access to luxury automobiles at potentially competitive prices.
Core Business Model
The company's primary operations involve purchasing high-end vehicles such as Mercedes-Benz, BMW, Porsche, Lexus, and Bentley from the U.S. market. These vehicles are then resold to parallel-import car dealers in both the U.S. and China. Cheetah Net Supply Chain Service Inc. generates revenue by capitalizing on the price differential between the purchase cost and resale price of these vehicles. By leveraging its expertise in cross-border logistics and market demand, the company plays a vital role in bridging the gap between supply in the U.S. and demand in China.
Understanding Parallel-Import Vehicles
Parallel-import vehicles refer to automobiles purchased directly from overseas markets and sold through channels other than the official distribution systems of the manufacturers. This market segment often appeals to consumers seeking luxury vehicles at lower prices or with unique specifications unavailable through traditional channels. Cheetah Net Supply Chain Service Inc. positions itself as a key player in this ecosystem, ensuring a seamless supply chain for its customers.
Market Context and Challenges
The parallel-import vehicle market operates within a complex regulatory and logistical framework. Companies like Cheetah Net Supply Chain Service Inc. must navigate varying import/export regulations, tariffs, and compliance requirements in both the U.S. and China. Additionally, the market faces challenges such as currency fluctuations, evolving consumer preferences, and competition from both authorized dealerships and other parallel-import suppliers. Despite these hurdles, the company's ability to source luxury vehicles efficiently and deliver them to high-demand markets underscores its strategic value.
Competitive Landscape
In the parallel-import vehicle market, Cheetah Net Supply Chain Service Inc. competes with other suppliers and distributors operating in similar niches. Its differentiation lies in its focus on luxury brands and its established network of dealers in the U.S. and China. By maintaining strong relationships with suppliers and leveraging its market knowledge, the company aims to provide consistent value to its customers while addressing the unique challenges of this market segment.
Key Value Proposition
Cheetah Net Supply Chain Service Inc. offers a unique value proposition by enabling access to premium automobiles through alternative channels. Its expertise in sourcing, logistics, and market dynamics allows it to deliver luxury vehicles to customers who might otherwise face limited options or higher costs through traditional distribution networks. This focus on efficiency and customer-centric solutions positions the company as a significant player in the parallel-import vehicle industry.
Conclusion
Cheetah Net Supply Chain Service Inc. (CTNT) operates at the intersection of the luxury automotive market and global supply chain logistics. By focusing on parallel-import vehicles, the company addresses a specific market need, providing customers with access to high-end automobiles at competitive prices. Its business model, which capitalizes on price differentials and cross-border demand, highlights its strategic role in the automotive supply chain. As a key facilitator in the parallel-import ecosystem, Cheetah Net Supply Chain Service Inc. continues to navigate the complexities of this niche market while delivering value to its customers.
Cheetah Net Supply Chain Service (Nasdaq CM: CTNT) has signed definitive agreements to acquire TW & EW Services, a California-based labor and logistics service provider, for a total of $1 million. The deal comprises a $200,000 cash payment and $800,000 in unregistered Class A common stock at $1.704 per share. The acquisition is expected to close around December 4, 2024. TW & EW will become a wholly owned subsidiary of Cheetah, strengthening the company's position in the logistics sector by integrating TW & EW's expertise in general labor and logistics support services.
Cheetah Net Supply Chain Service reported Q3 2024 results, showing significant revenue decline to $61,208 from $10.0 million in Q3 2023, primarily due to downturn in parallel-import vehicle business. The company relocated headquarters to Irvine, CA, completed a public offering raising $1.1 million, and implemented a 1-for-16 reverse stock split. The company is transitioning from parallel-import vehicles to logistics and warehousing operations. Q3 2024 resulted in a net loss of $1.8 million compared to net income of $0.1 million in Q3 2023. Cash position stands at $5.3 million with working capital of $11.6 million as of September 30, 2024.
Cheetah Net Supply Chain Service Inc. (Nasdaq CM: CTNT), a warehousing and logistics services provider, announced the resignation of its Chief Financial Officer, Robert Cook, effective August 30, 2024. Cook's departure is due to personal reasons and not related to any disagreements with the company. He will be available for part-time consulting services as needed.
Cook expressed satisfaction with his role in Cheetah's successful IPO in August 2023, despite challenging market conditions. The company's Board of Directors will conduct a search for a new CFO, considering both internal and external candidates. In the interim, Tony Liu, Chairman of the Board and CEO, will serve as the interim CFO, assuming the responsibilities of principal financial officer and principal accounting officer.
Cheetah Net Supply Chain Service Inc. (Nasdaq CM: CTNT) reported challenging Q2 2024 results due to continued adverse market conditions in the PRC. Key points include:
- Revenue declined significantly to $0.3 million from $12.2 million in Q2 2023
- Net loss of $0.6 million compared to $0.2 million income in Q2 2023
- Vehicle sales dropped to 1 unit from 93 in Q2 2023
- Company is pivoting towards integrated international trade services
- Generated $70,000+ in non-vehicle warehousing and logistics revenue
- Announced planned headquarters move from Charlotte, NC to Irvine, CA
The company aims to refocus on logistics and warehouse operations to address the declining parallel-import vehicle market. Management expects tangible results may take several quarters but is confident in future growth potential.
Cheetah Net Supply Chain Service Inc. (NASDAQ: CTNT), a warehousing and logistics services provider, has closed its follow-on public offering of 6,479,663 shares of Class A common stock, raising approximately $1.49 million in gross proceeds. The company plans to use the net proceeds for working capital and general corporate purposes. FT Global Capital, Inc. acted as the exclusive placement agent for the offering, which was made pursuant to a registration statement declared effective by the SEC on July 15, 2024. The final prospectus was filed on July 26, 2024, and is available on the SEC's website.
Cheetah Net Supply Chain Service Inc. (NASDAQ: CTNT), a warehousing and logistics services provider, has announced a follow-on public offering of 6,479,663 shares of Class A common stock. The offering is priced at $0.23 per share, aiming to raise approximately $1.49 million in gross proceeds. The company plans to use the net proceeds for working capital and general corporate purposes. FT Global Capital, Inc. is acting as the exclusive placement agent for this offering, which is expected to close around July 26, 2024. The offering is made pursuant to a registration statement filed with the SEC, which was declared effective on July 15, 2024.
Cheetah Net Supply Chain Service announced its plans to relocate its headquarters from North Carolina to Los Angeles, leveraging the city's strategic advantages in import, export, and supply chain operations. The move aims to reduce shipping costs and transit times due to proximity to major ports, including the Port of LA and the Port of Long Beach. LA's developed infrastructure, access to major highways, railways, and airports, and a large consumer market will support Cheetah Net's mission to enhance its supply chain financial services. The relocation also offers a vibrant business environment, access to skilled labor, and a desirable quality of life for employees. Cheetah Net intends to provide various financial services, including loans and short-term bridge loans, to better serve the supply chain market and drive growth.
Cheetah Net Supply Chain Service announced the closing of its follow-on public offering, raising $8.19 million by selling 13,210,000 shares of Class A common stock at $0.62 per share.
The company plans to use the net proceeds to fund working capital and enhance its warehousing and logistics services. The offering was facilitated by AC Sunshine Securities and was conducted under two registration statements filed with the SEC, effective April 26, 2024, and May 13, 2024, respectively.
Cheetah Net Supply Chain Service, a supplier of parallel-import vehicles and logistic services, announced the pricing of a follow-on public offering of 13,210,000 shares of Class A common stock at $0.62 per share, totaling $8.19 million in gross proceeds. The offering is expected to close on May 15, 2024, contingent upon customary closing conditions. The proceeds will be used to fund working capital and develop warehousing and logistics services. AC Sunshine Securities is the sole placement agent. The registration statement was declared effective on April 26, 2024, with additional filings on May 13, 2024.
Cheetah Net Supply Chain Service Inc. reported challenging market conditions in the People's Republic of China, leading to a significant decline in revenue for the first quarter of 2024. The company sold 13 vehicles compared to 82 in the same period of 2023, resulting in a net loss of $0.6 million. Cheetah acquired Edward Transit Express Group to expand its warehousing and logistics services, generating $60,000 in revenue. Despite the current economic conditions, the company remains focused on executing sales that generate favorable margins.
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