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Cheetah Net Supply Chain Service Inc. Announces First Quarter 2026 Results and Provides Corporate Update

CTNT
  • Cheetah Net Supply Chain Service Inc. reported revenue of $92,700 for the quarter ended March 31, 2026, a decrease of 80.7% from $479,799 in the same period in 2025.
  • The company recorded an operating loss of $764,319 for the quarter, a 20.4% reduction from the $960,448 loss in 2025, primarily due to lower selling, general & administrative expenses.
  • Net loss from continuing operations was $616,265, an 18.3% decrease from $753,909 in the prior year period, driven by other income of $152,454.
  • Total revenue was derived from Edward Transit Express Group Inc. ($39,700, down 36.5%) & TW & EW Services Inc. ($53,000, down 87.3%), with declines attributed to reduced customer volume & tariff policy changes.
  • General & administrative expenses fell to $770,004 from $1,000,519, driven by reduced legal fees, payroll savings from staff optimization, lease terminations, & lower insurance costs.
  • The company completed a private placement financing transaction & an ATM financing in April to fund strategic initiatives & strengthen its capital base.
  • A Share Transfer Agreement was signed to acquire 100% equity in a Hong Kong-based industrial equipment trading company, with closing targeted for May 2026.
  • The parallel-import vehicle business was discontinued in 2025, generating no income or expenses in the first quarter of 2026.
  • Liquidity concerns persist due to a net operating loss of approximately $0.6 million & net cash used in operating activities of $2.5 million, though cash & equivalents totaled $713,948 as of March 31, 2026.
  • The company held loan receivables from third parties of approximately $4.4 million, which management states will support ongoing operations & future obligations.
  • Consolidated balance sheets show total assets increased to $50,995,045 from $11,858,464, largely due to a $40.1 million deposit on a long-term investment.
  • Stockholders' equity rose to $48,893,504 from $9,355,587, reflecting additional paid-in capital increases from financing activities.
  • Weighted average shares outstanding increased to 136,029 from 16,096, resulting in a loss per share of $4.53 compared to $46.84 in the prior year period.