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.
Cheetah Net Supply Chain Service Inc. (CTNT) operates at the intersection of international automotive trade and luxury vehicle distribution. This news hub provides investors and industry professionals with timely updates on the company's strategic initiatives, regulatory developments, and market positioning within the parallel-import sector.
Discover official press releases covering earnings reports, supply chain partnerships, and operational milestones. Our curated collection simplifies tracking CTNT's navigation of U.S.-China automotive trade dynamics, including compliance updates and dealer network expansions.
Key content includes analysis of luxury vehicle market trends, cross-border logistics developments, and management commentary on price arbitrage opportunities. The resource serves as both a historical archive and real-time monitoring tool for stakeholders requiring insights into niche automotive import markets.
Bookmark this page to maintain informed perspectives on CTNT's role in connecting premium U.S.-sourced vehicles with Chinese dealership channels. Regular updates ensure you never miss critical developments affecting this unique automotive supply chain specialist.
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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