---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-060240"
form_type: "8-K"
ticker: "CTNT"
cik: "0001951667"
company_name: "CHEETAH NET SUPPLY CHAIN SERVICE INC."
filed_at: "2024-05-13T23:59:59+00:00"
generated_at: "2026-06-02T02:50:22.885057+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cheetah Net Q1 revenue plunges 86% to $1.4M; net loss widens to $0.6M

## Summary
- Vehicle sales fell to 13 units from 82 YoY; revenue dropped 86% to $1.4M from $10.2M.
- Net loss of $0.6M vs $0.1M loss in Q1 2023; operating loss of $0.8M vs income of $0.3M.
- Gross margin on vehicles turned negative (cost 100.6% of revenue); company paused procurement.
- Acquired Edward Transit Express in Feb 2024 for $0.3M cash + 1.27M shares; generated $80k logistics revenue.
- Cash $0.9M, working capital $6.3M; CEO cites continued poor PRC market conditions.

## SEC filing metadata
- accession: 0001104659-24-060240
- form_type: 8-K
- ticker: CTNT
- cik: 0001951667
- company_name: CHEETAH NET SUPPLY CHAIN SERVICE INC.
- filed_at: 2024-05-13T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1951667/000110465924060240/0001104659-24-060240-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1951667/000110465924060240/tm2414166d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-060240
- JSON: https://secwatch.observer/filing/0001104659-24-060240.json
- Plain text: https://secwatch.observer/filing/0001104659-24-060240.txt

## Key facts
- Earnings Releases
  CHEETAH NET SUPPLY CHAIN SERVICE INC. reported for the quarter ended March 31, 2024 results: revenue $1.4 million, net income $0.6 million.
  - Period: for the quarter ended March 31, 2024
  - Revenue: $1.4 million
  - Net income: $0.6 million
  - Result: reported results
  source text: sold a total of 13 vehicles during the first quarter of 2024, compared with 82 vehicles in the first quarter of 2023. First quarter 2024 vehicle sales revenue amounted to $1.4 million compared with $10.2 million in the first quarter of 2023. The decline in revenue resulted in a net loss of $0.6 million during the quarter compared with a loss of $0.1 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1951667/000110465924060240/0001104659-24-060240-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.