CHEETAH NET SUPPLY CHAIN SERVICE INC.

Listed Company

CTNTCIK 0001951667NasdaqEmerging GrowthWholesale-Motor Vehicles & Motor Vehicle Parts & SuppliesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.29M

Net Income

$-3.60M

Total Assets

$11.86M

Equity

$9.36M

Shares Out

36.18M

Op. Cash Flow

$-2.1K

Business

CHEETAH NET SUPPLY CHAIN SERVICE INC. operates freight forwarding, logistics and warehousing services and historically engaged in the sourcing and resale of parallel-import vehicles. It offers cargo storage, ocean freight forwarding as a Non-Vessel-Operating Common Carrier (NVOCC), U.S. customs clearance, and general labor and container loading/unloading services, and previously provided vehicle procurement and resale for parallel-import vehicle dealers. Its key business lines include Parallel-Import Vehicles and Logistics and Warehousing, supported by acquisitions such as Edward and TWEW. The company primarily serves U.S.-based shippers and PRC and U.S. vehicle dealers, focusing on U.S.–China trade flows through major West Coast ports and third-party carrier and trucking networks.

Summary from filing dated 2025-03-12

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
REVENUE	1	455,805	38	55
COST OF REVENUE	1	277,293	34	51
GROSS PROFIT	166,775	178,512	4	4
General and administrative expenses	4	4	2	1
Impairment loss expenses	731,307	—	—	—
Share-based compensation expenses	387,618	277,345	—	—
TOTAL OPERATING EXPENSES	5	4	2	2
(LOSS) FROM OPERATIONS	−5	−4	−2	2
Interest income	924,224	320,472	9,938	—
Interest expenses	−33,198	−35,951	−41,883	—
Other income	90,105	8,009	21,655	—
Other expenses	−35,342	—	—	—
OTHER INCOME, NET	945,789	292,530	−10,290	−1
(LOSS) FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	−4	−3	−2	1
Income tax (benefits) expense	15,916	−215,822	−488,918	234,479
(LOSS) FROM CONTINUING OPERATIONS	−4	−3	−2	—
(LOSS) INCOME FROM DISCONTINUED OPERATIONS, NET OF TAX	0	−2	2	—
NET LOSS	−4	−5	133,870	816,980
(Loss) from continuing operations per ordinary share - basic (in dollars per share)	−1.12	−1.65	−1.59	—
(Loss) from continuing operations per ordinary share - diluted (in dollars per share)	−1.12	−1.65	−1.59	—
(Loss) from discontinued operations per ordinary share - basic (in dollars per share)	0	−1	1.72	—
(Loss) from discontinued operations per ordinary share - diluted (in dollars per share)	0	−1	1.72	—
(Loss) from operations per ordinary share - basic (in dollars per share)	−1.12	−2.65	0.12	0.05
(Loss) from operations per ordinary share - diluted (in dollars per share)	−1.12	−2.65	0.12	0.05
Weighted average shares - basic (in shares)	3	2	1	16
Weighted average shares - diluted (in shares)	3	2	1	16

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	200,000	2	432,998	58,381	—
Accounts receivable, net	6,540	47,976	6	7	—
Loan receivable	7	6	—	—	—
Other receivables	1	370,696	27,517	900,730	—
Prepaid expenses and other current assets	238,648	338,642	292,338	480,828	—
Current assets of discontinued operations	—	3	8	—	—
TOTAL CURRENT ASSETS	9	11	10	14	—
Property, plant, and equipment, net	358,868	398,395	—	—	—
Operating lease right-of-use assets	1	2	190,823	140,145	—
Intangibles, net	792,571	1	—	—	—
Goodwill	475,862	1	—	—	—
TOTAL NONCURRENT ASSETS	3	4	—	—	—
TOTAL ASSETS	12	15	10	15	—
Accounts payable	32,762	18,992	40,430	86,285	—
Current portion of long-term debt	35,902	34,577	32,887	31,281	—
Loans payable from premium finance	82,650	120,461	148,621	—	—
Operating lease liabilities, current	594,407	438,351	39,703	149,458	—
Due to a related party	5,204	—	13,423	—	—
Accrued liabilities and other current liabilities	594,693	217,980	201,856	616,863	—
Current liabilities of discontinued operations	—	52,900	2	—	—
TOTAL CURRENT LIABILITIES	1	883,261	2	12	—
Long-term debt, net of current portion	572,653	610,020	644,725	678,442	—
Operating lease liabilities, net of current portion	584,606	1	151,121	—	—
TOTAL NONCURRENT LIABILITIES	1	2	—	—	—
TOTAL LIABILITIES	3	3	3	13	—
COMMITMENTS AND CONTINGENCIES	—	—	—	—	—
Additional paid-in capital	18	17	7	3	—
(Accumulated deficit) Retained earnings	−8	−5	508,241	374,371	—
TOTAL STOCKHOLDERS' EQUITY	9	13	7	2	−170,425
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	12	15	10	15	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Net loss	−4	−5	133,870	816,980
Less: loss from discontinued operations, net of tax	—	−2	2	—
Loss from continuing operations	−4	−3	−2	—
Depreciation	39,528	27,400	0	—
Amortization of operating lease right-of-use assets	589,369	281,056	140,145	169,503
Gain on lease termination	−7,853	—	—	—
Amortization of intangible assets	107,726	52,928	0	—
Share-based compensation expenses	387,618	277,345	—	—
Deferred income benefits	—	−222,206	38,829	158,060
Accounts receivable	41,436	42,499	591,956	−7
Other receivables, net	−786,436	−300,493	14,328	220,029
Due from/to related party	5,204	—	—	—
Prepaid expenses and other current assets	99,994	−17,488	−30,782	−478,828
Other payables and other current liabilities	390,485	−20,505	51,902	−30,566
Operating lease liabilities	−438,351	−366,205	−149,458	−163,550
Cash used in operating activities-continuing operations	−2	−3	−2	—
Cash provided by operating activities-discontinued operations	3	4	7	—
Net cash (used in) provided by operating activities	−2,075	242,220	6	2
Acquisition of business, net of cash acquired	—	−350,137	—	—
Purchase of property, plant, and equipment	—	−365,000	—	—
Loans made to third parties	−3	−6	−672,500	—
Loans repayment received from third parties	2	915,633	—	—
Cash used in investing activities-continuing operations	−1	−6	−672,500	—
Net cash used in investing activities	−1	−6	−672,500	—
Cash paid for warrant termination	—	−78,125	—	—
Proceeds from issuance of common stock under private placement transactions	—	600,000	1	1
Repayments of short-term borrowings	—	−50,000	—	—
Proceeds from premium finance	196,300	252,718	148,621	—
Repayments of premium finance	−234,111	−280,878	—	—
Repayments of long-term borrowings	−36,043	−33,016	−32,111	−9,563
Repayments made to a related party	—	−13,423	−32,375	−1
Cash provided by financing activities-continuing operations	−73,854	9	5	—
Cash used in financing activities-discontinued operations	—	−2	−10	—
Net cash (used in) provided by financing activities	−73,854	7	−5	−3
Net increase in cash	−1	1	374,617	−442,596
Cash paid for income taxes	2,155	2,000	74,533	46,196
Cash paid for interests	33,198	62,474	262,661	842,228
Fair value of common stock issued for acquisition	—	2	—	—

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