As filed with the U.S. Securities and Exchange Commission on March 28, 2024 Registration No. 333-276300 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 CHEETAH NET SUPPLY CHAIN SERVICE INC. (Exact name of registrant as specified in its charter) North Carolina 5010 81-3509120 (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. ...

CHARLOTTE, March 18, 2024 (GLOBE NEWSWIRE) – Cheetah Net Supply Chain Service Inc. ("We," "Our," "Cheetah," or the "Company") (Nasdaq CM: CTNT), a supplier of parallel-import vehicles sourced in the U.S. to be sold in the People's Republic of China ("PRC") market, today reported results for the financial year ended December 31, 2023 and provided a corporate update. 2023 Financial Results Total other expenses consisted primarily of interest expense, which decreased significantly by approximately $1.2 million ...

CHARLOTTE, N.C., March 18, 2024 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. ("We," "Our," "Cheetah," or the "Company") (Nasdaq CM: CTNT), a supplier of parallel-import vehicles sourced in the U.S. to be sold in the People's Republic of China ("PRC") market, today reported results for the financial year ended December 31, 2023 and provided a corporate update. Recent Highlights Challenging market conditions in the PRC have resulted in an industry-wide slowdown of vehicle sales, including price a ...

Sales Performance - In Q4 2023, unit sales fell to 49 vehicles, a 36.4% decrease from Q4 2022 and a 38.0% drop from Q3 2023, resulting in a net loss for the quarter[115]. - The company sold 303 vehicles in 2023, a 34.6% decrease from 463 vehicles in 2022, primarily due to market volatility in China[135]. - Sales to U.S. market dealers/exporters in 2023 amounted to 73 vehicles, representing 24.1% of total unit sales, compared to 29 vehicles in 2022[136]. Revenue and Profitability - Total revenue decreased by $16.8 million, or 30.5%, from $55.2 million in 2022 to $38.4 million in 2023, despite an increase in average selling price per vehicle[122]. - Revenue for the year ended December 31, 2023, was $38.3 million, a decrease of $16.8 million or 30.5% from $55.2 million in 2022[134]. - Gross profit decreased by $0.2 million, or 5.0%, from $4.5 million in 2022 to $4.3 million in 2023, while gross margin increased by 3% from 8.1% in 2022 to 11.1% in 2023 due to strategic adjustments in the product portfolio[145]. - Net income for 2023 was $133,870, a significant decline from $816,980 in 2022, resulting in earnings per share of $0.01 compared to $0.05 in the previous year[215]. Cost Management - Cost of revenue decreased by $16.6 million, or 32.8%, from $50.7 million in 2022 to $34.1 million in 2023, primarily due to the decline in sales[124]. - The total cost of revenue decreased by $16.6 million, or 32.8%, from $50.7 million in 2022 to $34.1 million in 2023, with cost as a percentage of total revenue improving from 91.9% to 88.9%[140]. - Fulfillment expenses decreased by approximately $0.3 million, or 12.3%, from $2.1 million in 2022 to $1.9 million in 2023, primarily due to reductions in payroll and benefits and improved management of vehicle storage and towing costs[144]. Market Trends - The ongoing shift in consumer demand towards electric vehicles (EVs) produced by PRC manufacturers has negatively impacted the luxury vehicle market[115]. - The company discontinued the sale of select luxury car models to better align with market demand and streamline resource allocation[135]. Financial Position - As of December 31, 2023, the company had a positive working capital of $7.5 million, supported by cash of $0.4 million and total stockholders' equity of $6.9 million[164]. - The company completed its IPO in August 2023, raising net proceeds of approximately $3.7 million, which improved financial flexibility and reduced reliance on external debt financing[157]. - Total current assets decreased to $9,820,537 in 2023 from $14,492,525 in 2022, primarily due to a reduction in inventory and accounts receivable[213]. - The company’s total stockholders' equity rose to $6,904,628 in 2023 from $1,845,355 in 2022, reflecting a stronger financial position[213]. Cash Flow - Net cash provided by operating activities was $5.6 million for the year ended December 31, 2023, compared to $2.2 million in 2022, primarily due to a $4.5 million decrease in inventory[168][169]. - Cash reserves increased significantly to $432,998 in 2023 from $58,381 in 2022, indicating improved liquidity[213]. - Net cash used in financing activities was $4.6 million for the year ended December 31, 2023, compared to $2.6 million in 2022, with significant repayments including $25.5 million in LC financing and $4.2 million in inventory financing[171][172]. Debt and Financing - The annual interest rate for LC financing and revolving lines of credit is currently 18.0%[125]. - The total weighted average balance of funds obtained through inventory financing decreased from $4.5 million in 2022 to $0.6 million in 2023, with interest expenses incurred dropping from $0.7 million to $0.1 million[149]. - Interest expenses decreased significantly by approximately $1.2 million, or 49.2%, to $1.2 million in 2023, primarily due to a drop in inventory financing activities and the completion of the IPO in Q3 2023[148]. Inventory Management - The company recorded no reserves for inventory obsolescence as of December 31, 2023, indicating effective inventory management[177][186]. - As of December 31, 2023, the company had total inventory valued at $1,515,270, significantly down from $5,965,935 in 2022, representing a decrease of approximately 74.7%[268]. Tax and Regulatory - The effective tax rate increased to 25.8% in 2023 from 22.3% in 2022[299]. - The Company has not assessed a valuation allowance for deferred tax assets, believing it is more likely than not that all will be realized[250]. IPO and Stock Performance - The Company closed its IPO on August 3, 2023, selling 1,250,000 shares of Class A common stock at $4.00 per share, generating gross proceeds of $5.0 million[311]. - The Company's Class A common stock began trading on the Nasdaq Capital Market under the ticker symbol "CTNT" on August 1, 2023[311].

CHARLOTTE, N.C., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. ("Cheetah" or the "Company") (Nasdaq CM: CTNT) today announced the successful completion of its acquisition of Edward Transit Express Group Inc. (the "Acquisition"), a California-based global inbound non-vessel operating common carrier providing ocean and air transportation services ("Edward"). The Acquisition marks a pivotal achievement in Cheetah's strategic expansion plans. Tony Liu, Chairman and CEO, commented, "[t] ...

CHARLOTTE, N.C., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Cheetah Net Supply Chain Service Inc. ("Cheetah" or the "Company") (Nasdaq CM: CTNT) today announced that it has executed a definitive agreement and its amendment thereto (the "Agreement") for the acquisition (the "Acquisition") of Edward Transit Express Group Inc. ("Edward"), a California-based global inbound non-vessel operating common carrier specializing in ocean and air transportation services. This strategic move marks Cheetah's inaugural investment i ...

As filed with the U.S. Securities and Exchange Commission on December 28, 2023 Registration No. 333-[●] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 CHEETAH NET SUPPLY CHAIN SERVICE INC. (Exact name of registrant as specified in its charter) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Number) 6201 Fairview Road, Suite 225 Charlotte, North Carolina, 28210 (704) 972-0209 (Ad ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41761 Cheetah Net Supply Chain Service Inc. (Exact name of registrant as specified in its charter) | North Carolina ...

Table of Contents Comparison of the Three Months Ended June 30, 2023 and 2022 Revenue decreased by $8.6 million, or 41.2%, from approximately $20.8 million for the three months ended June 30, 2022 to $12.2 million for the three months ended June 30, 2023. The decrease was primarily due to a lower number of vehicles sold. Specifically: (i) For the three months ended June 30, 2023, we sold 93 vehicles compared with 175 for the three months ended June 30, 2022, mainly due to a short-term decline in market dema ...

As filed with the U.S. Securities and Exchange Commission on July 18, 2023 Registration No. 333-271185 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AMENDMENT NO. 5 TO (Name, address, including zip code, and telephone number, including area code, of agent for service) With a Copy to: CHEETAH NET SUPPLY CHAIN SERVICE INC. (Exact name of registrant as specified in its charter) | North Carolina | 5010 | 81-3509120 | | -- ...