Welcome to our dedicated page for Cheetah Net Supply Chain Service news (Ticker: $CTNT), a resource for investors and traders seeking the latest updates and insights on Cheetah Net Supply Chain Service stock.
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Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Cheetah Net Supply Chain Service's position in the market.
News
Rhea-AI Summary
Cheetah Net Supply Chain Service Inc. reported a decline in revenue and profit due to challenging market conditions in the People's Republic of China (PRC). The company's 2023 sales decreased by 30.5% to $38.4 million, with a net profit of $0.1 million. The acquisition of Edward Transit Express Group, Inc. for $1.5 million aims to expand warehousing and logistics services. Cheetah plans to become an integrated provider of international trade services for small- and medium-sized traders.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.41%
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Rhea-AI Summary
Cheetah Net Supply Chain Service Inc. (CTNT) has successfully completed the acquisition of Edward Transit Express Group Inc., a California-based global inbound non-vessel operating common carrier providing ocean and air transportation services. The total consideration for the acquisition was $1.5 million, with $300,000 in cash and 1,272,329 shares of the company's unregistered Class A common stock. Edward will operate as a wholly-owned subsidiary of Cheetah, and its general manager, Franky Zhang, will become the CEO of Edward. The acquisition is expected to reduce Cheetah's operating costs and generate new revenue streams.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
15.06%
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Rhea-AI Summary
Cheetah Net Supply Chain Service Inc. announced the execution of a definitive agreement for the acquisition of Edward Transit Express Group Inc., a California-based global inbound non-vessel operating common carrier. The acquisition is expected to close within 20 days and involves a cash payment of $300,000 and the issuance of Cheetah's unregistered Class A common stock. The total market value of the share consideration is $1,200,000. The acquisition marks Cheetah's entry into the logistics sector and is expected to reduce operating overhead while expanding its ability to offer logistics and warehousing services to third-party parallel-import dealers.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
16.19%
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Rhea-AI Summary
Cheetah Net Supply Chain Services Inc. (Nasdaq CM: CTNT) has announced the signing of a letter of intent with Edward Transit Express Group Inc., a California-based global inbound non-vessel operating common carrier. The total purchase price for Edward is $1.5 million, consisting of $300,000 in cash and $1.2 million in Cheetah’s Class A common stock. The completion of the transaction is subject to various conditions, including the favorable completion of due diligence on Edward and the entry of a definitive agreement. The anticipated completion timeframe is early 2024. This transaction underscores Cheetah's commitment to evolving into a comprehensive international trade service provider.
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End-of-Day
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Rhea-AI Summary
CTNT: Cheetah Net Supply Chain Service Inc. Reports Q3 2023 Results, Focuses on Luxury Vehicle Market in China. Revenue Declines to $10M from $11.9M, Net Income Drops to $0.1M from $1.2M
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-12.5%
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Rhea-AI Summary
Cheetah Net Supply Chain Service Inc. reports Q2 2023 results. Gross profit margin expanded 400 basis points to 10.3%. Average selling price per vehicle increased by 10.4% to $131,430. Net cash provided by operating activities was $4.1 million for the first six months of 2023. Cash balance increased to $0.6 million compared to December 31, 2022.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.83%
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Rhea-AI Summary
Cheetah Net Supply Chain Services Inc. reports improved results for H1 2023 with higher revenue per unit sold and a net profit compared to H1 2022. Gross profit increased by approximately 35% to an estimated $2.4 million, with a gross profit margin of 10.7%. Average selling price increased by nearly 13% to $128,214. Cheetah expects a positive outlook for the parallel import business for the rest of 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.44%
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News
Rhea-AI Summary
Cheetah Net Supply Chain Service Inc. has closed its initial public offering (IPO) of 1,250,000 shares of Class A common stock at an offering price of $4.00 per share. The IPO generated gross proceeds of $5.0 million, before deducting underwriting discounts and offering expenses. The underwriters have been granted a 45-day option to purchase up to an additional 187,500 shares. The Class A common stock began trading on The Nasdaq Capital Market under the symbol 'CTNT.' Maxim Group LLC acted as the sole book-running manager for the offering.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-13.16%
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News
Rhea-AI Summary
Cheetah Net Supply Chain Service Inc. announces pricing of its IPO of 1,250,000 shares of Class A common stock at $4.00 per share, for gross proceeds of $5.0 million. The shares are expected to begin trading on August 1, 2023, under the symbol 'CTNT'. The offering is expected to close on August 3, 2023.
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Rhea-AI Sentiment
End-of-Day
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Cheetah Net Supply Chain Service Inc.
Nasdaq:CTNT
CTNT Rankings
CTNT Stock Data
26.67M
1.54M
79.74%
0.15%
0.12%
Automobile and Other Motor Vehicle Merchant Wholesalers
Wholesale Trade
United States of America
CHARLOTTE