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Cheetah Net Supply Chain Service | 8-K: Cheetah Net Supply Chain Service Inc. Announces Second Quarter 2024 Results and Provides Corporate Update

Cheetah Net Supply Chain Service | 8-K: Cheetah Net Supply Chain Service Inc. Announces Second Quarter 2024 Results and Provides Corporate Update

Cheetah Net Supply Chain Service | 8-K:猎豹网络供应链服务公司公布2024年第二季度业绩并提供公司最新情况
美股SEC公告 ·  2024/08/13 15:19

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Cheetah Net Supply Chain Service reported significant revenue decline to $0.3M in Q2 2024, down from $12.2M in Q2 2023, primarily due to challenges in the parallel-import vehicle market. The company sold only one vehicle compared to 93 vehicles in the same period last year, resulting in a net loss of $0.6M versus a net income of $0.2M in Q2 2023.The company is strategically pivoting beyond the parallel-import vehicle business, generating over $70,000 in non-vehicle related warehousing and logistics revenue following the acquisition of Edward Transit Express Group Inc. in February 2024. As part of this transformation, Cheetah Net announced plans to relocate its headquarters from Charlotte, NC to Irvine, CA to leverage Southern California's logistics infrastructure and port access.As of June 30, 2024, the company maintained a strong liquidity position with $6.3M in cash and working capital of $12.4M. Management believes current measures, including operational cash generation and available financing options, will provide sufficient liquidity for at least the next 12 months.
Cheetah Net Supply Chain Service reported significant revenue decline to $0.3M in Q2 2024, down from $12.2M in Q2 2023, primarily due to challenges in the parallel-import vehicle market. The company sold only one vehicle compared to 93 vehicles in the same period last year, resulting in a net loss of $0.6M versus a net income of $0.2M in Q2 2023.The company is strategically pivoting beyond the parallel-import vehicle business, generating over $70,000 in non-vehicle related warehousing and logistics revenue following the acquisition of Edward Transit Express Group Inc. in February 2024. As part of this transformation, Cheetah Net announced plans to relocate its headquarters from Charlotte, NC to Irvine, CA to leverage Southern California's logistics infrastructure and port access.As of June 30, 2024, the company maintained a strong liquidity position with $6.3M in cash and working capital of $12.4M. Management believes current measures, including operational cash generation and available financing options, will provide sufficient liquidity for at least the next 12 months.
猎豹网络供应链服务在2024年第二季度报告了显著的营业收入下降,降至30万美金,比2023年第二季度的1220万美金下降,主要是由于平行进口车辆市场面临的挑战。该公司在同期只售出一辆车,而去年同期则售出了93辆车辆,导致净损失为60万美金,而2023年第二季度则实现了20万美金的净利润。该公司正在战略性地转型,以超越平行进口车辆业务,继2024年2月收购爱德华运输快递集团后,非车辆相关的仓储和物流营业收入超过70,000美金。作为这次转型的一部分,猎豹网络宣布计划将总部从北卡罗来纳州夏洛特迁移到加利福尼亚州尔湾,以利用南加州的物流基础设施和港口通道。截至2024年6月30日,公司保持了强劲的流动性,现金为630万美金,营运资金为1240万美金。管理层认为,当前的措施,包括营运现金生成和可用的融资期权,将为至少未来12个月提供足够的流动性。
猎豹网络供应链服务在2024年第二季度报告了显著的营业收入下降,降至30万美金,比2023年第二季度的1220万美金下降,主要是由于平行进口车辆市场面临的挑战。该公司在同期只售出一辆车,而去年同期则售出了93辆车辆,导致净损失为60万美金,而2023年第二季度则实现了20万美金的净利润。该公司正在战略性地转型,以超越平行进口车辆业务,继2024年2月收购爱德华运输快递集团后,非车辆相关的仓储和物流营业收入超过70,000美金。作为这次转型的一部分,猎豹网络宣布计划将总部从北卡罗来纳州夏洛特迁移到加利福尼亚州尔湾,以利用南加州的物流基础设施和港口通道。截至2024年6月30日,公司保持了强劲的流动性,现金为630万美金,营运资金为1240万美金。管理层认为,当前的措施,包括营运现金生成和可用的融资期权,将为至少未来12个月提供足够的流动性。
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