Recent developments highlight the company’s strategic shift, acquisitions, financial results, and operational changes.

• Cheetah Net reported a 279% increase in Q2 revenue in 2025, reflecting growth in logistics and warehousing services following its strategic shift [N2].
• The company reported 2024 financial results and announced the discontinuation of its parallel-import vehicle business, shifting focus to logistics and warehousing [N4].
• In Q1 2025, Cheetah Net reported financial results and detailed its strategic shift to logistics and warehousing [N3].
• The company acquired TW & EW Services in December 2024 to expand its logistics and warehousing capabilities [N5].
• Trading of Cheetah Net was halted in October 2024 pending news, indicating a period of operational or strategic transition [N6].
• Cheetah Net’s CFO Robert Cook resigned in August 2024, marking a significant management change [N7].
• The company completed the acquisition of Super International in May 2026, adding international trading of large-scale industrial equipment as a new business line [S2].
• Cheetah Net completed a reverse stock split of 1-for-200 effective April 20, 2026, consolidating its common stock [S2].
• The company disposed of its subsidiary Edward in April 2026, focusing operations through TWEW and new acquisitions [S2].
• Cheetah Net raised approximately $40.14 million in a private placement in February 2026 to support its business transformation [S2].

The company has successfully transitioned from a declining parallel-import vehicle business to diversified logistics, warehousing, and international trading operations. Strategic acquisitions such as Super International and TWEW enhance its service capabilities and market presence. Its strong liquidity position and recent quarterly profitability indicate operational improvements. The relocation to California ports positions the company to capitalize on U.S.-PRC trade flows. The company’s emerging growth status allows for flexible capital raising and operational scaling.

The company faces risks from regulatory compliance, geopolitical tensions between the U.S. and PRC, and operational challenges including labor constraints and market demand fluctuations. The discontinuation of its prior core business and reliance on acquisitions introduce integration and execution risks. Its internal controls have been deemed ineffective, which may affect financial reporting reliability. Market volatility and potential delisting risks on Nasdaq add to investor uncertainty. The company’s profitability remains modest with narrow gross margins and exposure to tariff and trade policy changes.

Cheetah Net's moat is primarily based on its specialized logistics and warehousing services tailored to U.S.-PRC trade, supported by strategic acquisitions that expand its service offerings and geographic reach. Its operations leverage key port locations and established subsidiaries, providing operational infrastructure advantages. However, the company faces significant competition and regulatory risks, and its moat is challenged by market volatility and geopolitical uncertainties affecting international trade.

• Regulatory and Compliance Risks: The company is subject to extensive U.S. and PRC regulations including trade, tariffs, customs, and labor laws. Non-compliance by the company or its third-party partners could result in penalties, legal expenses, and business disruptions.
• Geopolitical and Trade Risks: Adverse changes in U.S.-PRC political relations and trade policies, including tariffs and export controls, may negatively impact the company’s cross-border logistics and trading operations.
• Operational and Integration Risks: The company’s shift in business model and acquisitions pose risks related to successful integration, market expansion, and operational management. Labor availability and cost pressures affect logistics services.
• Financial Reporting and Internal Controls: Management has concluded internal controls were ineffective as of December 31, 2025, which may affect the accuracy and reliability of financial reporting.
• Market and Listing Risks: The company’s stock faces volatility risks including potential short squeezes and risks of delisting from Nasdaq if listing standards are not maintained.

• Cheetah Net Supply Chain Service Inc. operates primarily in logistics and warehousing services and international trading of large-scale industrial equipment.
• The company historically focused on parallel-import vehicle sales from the U.S. to the PRC but discontinued this business in March 2025 due to declining demand and market challenges.
• The logistics and warehousing business includes coordination, warehousing, and labor support services, with operations in the U.S. and PRC.
• The company acquired Edward in February 2024 to provide logistics services related to U.S.-PRC trade, but disposed of Edward in April 2026.
• In December 2024, the company acquired TWEW to expand logistics and warehousing services, continuing operations through TWEW after Edward's disposition.
• In May 2026, Cheetah Net acquired Super International, which operates in international trading of large-scale industrial equipment, adding a new business line.
• The company incorporated a wholly owned subsidiary, Cheetah BVI, in March 2025 to support international business development, which had not commenced operations as of the latest report.
• The company completed a 1-for-200 reverse stock split effective April 20, 2026.
• Financial snapshot as of June 30, 2026, shows cash and equivalents of $2.14 million, current assets of $75.7 million, current liabilities of $1.59 million, resulting in a current ratio of 47.55 and a cash ratio of 1.35.
• Net income for the quarter ended June 30, 2026, was $71,045 with basic and diluted EPS of $0.037.
• Revenue for the three months ended June 30, 2026, was $868,909, with a gross profit margin of 2.2%.
• The company reported a net loss in prior periods due to discontinued operations and restructuring.
• The company faces regulatory risks including compliance with U.S. and PRC laws, tariffs, and trade restrictions, which may affect operations.
• The company is subject to risks from third-party compliance failures, intellectual property claims, and political relations between the U.S. and PRC.
• The company experienced a decline in parallel-import vehicle sales by 95.7% in 2024, leading to discontinuation of that business.
• Tighter U.S. immigration policies increased labor costs and constrained labor availability, impacting logistics and warehousing revenues.
• The company raised approximately $40.14 million in a private placement in February 2026.
• The company relocated its headquarters to Irvine, California, in July 2024 to leverage major ports for logistics operations.
• The company’s logistics and warehousing revenue was nil for the three months ended June 30, 2026, due to disposal of Edward and market conditions affecting TWEW.
• The company’s business transformation includes shifting from parallel-import vehicles to logistics, warehousing, and international trading.
• The company is an emerging growth company and smaller reporting company under the JOBS Act, with related reduced disclosure requirements.
• The company’s internal controls were concluded ineffective at reasonable assurance level as of December 31, 2025.
• The company’s Class A common stock is listed on the Nasdaq Capital Market but faces risks of delisting if listing standards are not maintained.