Cheetah Net Supply Chain Service, Inc. Class A ( (CTNT) ) has released its Q4 earnings. Here is a breakdown of the information Cheetah Net Supply Chain Service, Inc. Class A presented to its investors.
Cheetah Net Supply Chain Service, Inc. is a logistics and warehousing services provider, operating primarily in the logistics sector, with a focus on international trade services for small- and medium-sized businesses. The company recently reported its full-year 2024 financial results and provided a corporate update.
In 2024, Cheetah Net faced significant challenges due to deteriorating market conditions in China, leading to a strategic shift away from its parallel-import vehicle business. The company reported a total net loss of $5.2 million for the year, primarily due to the cessation of its vehicle import operations and the associated financial impacts. Despite these setbacks, Cheetah Net has made strides in expanding its logistics and warehousing business, including the acquisition of Edward Transit Express Group and TWEW.
Key financial metrics for the year included a total revenue of $455,805 from continuing operations, with a gross profit of $178,512. The company also reported increased general and administrative expenses totaling $3.6 million, reflecting investments in its new business segment. Additionally, Cheetah Net conducted public offerings to bolster its financial position, raising significant capital for working capital and corporate purposes.
Looking forward, Cheetah Net’s management remains optimistic about its transition to a logistics-focused business model. The company aims to enhance operational efficiencies, expand its service offerings, and strengthen its market position, with expectations of substantial future growth in the logistics sector.