Cheetah Net FY2023 revenue down 30.5% to $38.4M; net income $0.1M; acquires Edward Transit for $1.5M

CHEETAH NET SUPPLY CHAIN SERVICE INC.

Revenue $38.4M, down 30.5% YoY from $55.2M; net income $0.1M ($0.01 EPS) vs $0.8M ($0.05) in 2022.
Operating income $1.4M vs $2.1M; cash $0.4M; working capital $7.5M as of Dec 31, 2023.
Acquired Edward Transit Express Group for $1.5M in Feb 2024 to launch warehousing and logistics services.
PRC luxury vehicle market slowdown compressed margins; company pivoting to international trade services beyond autos.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CHEETAH NET SUPPLY CHAIN SERVICE INC. reported the fiscal year ended December 31, 2023 results: revenue $38.4 million, net income $0.1 million, EPS $0.01 per share.

Period: the fiscal year ended December 31, 2023
Revenue: $38.4 million
Net income: $0.1 million
EPS: $0.01 per share
Result: reported results

Exact text from the filing

focus on the most popular vehicles in the luxury end of the market, where profit opportunities can still be realized. · The Company’s 2023 sales declined by 30.5% from 2022, to $38.4 million due to lower sales volume. Net profit after tax amounted to $0.1 million, and positive cash flow from operations rose to $5.6 million. The Company ended 2023 with a cash balance

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

CHEETAH NET SUPPLY CHAIN SERVICE INC. filing history →

Source: SEC EDGAR

accession 0001104659-24-035557

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