secwatch.observer — SEC 8-K summary
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Issuer:     CHEETAH NET SUPPLY CHAIN SERVICE INC. (CTNT)
CIK:        0001951667
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0001104659-24-088959
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cheetah Net Q2 revenue plunges 98% to $0.3M; net loss of $0.6M vs prior-year profit
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- Revenue fell to $0.3M from $12.2M YoY; only 1 vehicle sold vs 93 in Q2 2023.
- Parallel-import vehicle revenue dropped $12.0M (98.4%); cost of revenue was 107.8% of revenue.
- Net loss of $0.6M vs net income of $0.2M in Q2 2023; six-month net loss $1.2M.
- Logistics and warehousing revenue $0.1M (31.8% of total); over $70k from non-vehicle clients.
- Planned HQ move from Charlotte, NC to Irvine, CA to focus on logistics near LA/Long Beach ports.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1951667/000110465924088959/0001104659-24-088959-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1951667/000110465924088959/tm2421542d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-088959

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