Cheetah Net Supply Chain Service Inc. Announces Full Year 2023 Results and Provides Corporate Update [Yahoo! Finance]
Cheetah Net Supply Chain Service Inc. (CTNT)
Company Research
Source: Yahoo! Finance
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 and volume drops in the luxury segment. The Company's results have been impacted by unfavorable market conditions, experiencing declines in revenue and profit. The favorable margin between the U.S. retail prices of select luxury car models and their wholesale prices in the parallel-vehicle market has been significantly compressed or eliminated. The Company continues to focus on the most popular vehicles in the luxury end of the market, where profit opportunities can still be realized. The Company's 2023 sales declined by 30.5% from 2022, to $38.4 million due to lower sales volume. Net profit after tax amounted to
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News
- A Look At The Fair Value Of Cheetah Net Supply Chain Service Inc. (NASDAQ:CTNT) [Yahoo! Finance]Yahoo! Finance
- Cheetah Net Supply Chain Service Inc. (NASDAQ: CTNT) had its price target lowered by analysts at Maxim Group from $5.00 to $4.00. They now have a "buy" rating on the stock.MarketBeat
- Cheetah Net Supply Chain Service Inc. Announces Full Year 2023 Results and Provides Corporate UpdateGlobeNewswire
CTNT
Analyst Actions
- 3/20/24 - Maxim Group
CTNT
Sec Filings
- 5/1/24 - Form FWP
- 4/29/24 - Form 8-K
- 4/29/24 - Form EFFECT
- CTNT's page on the SEC website