AcquisitionsMay 14, 2026, 06:07 AM
Cheetah Net to Acquire HK Industrial Equipment Trader; Q1 Revenue Down 80.7%
AI Summary
Cheetah Net Supply Chain Service Inc. announced plans to acquire a Hong Kong-based industrial equipment trading company, expected to close in May, as part of its long-term growth strategy. For the first quarter of 2026, the company reported a significant revenue decrease of 80.7% to $92,700, primarily due to global trade pressures and reduced customer demand in its logistics and warehousing business. Despite the revenue decline, the net loss from continuing operations decreased by 18.3% to $616,265, driven by cost discipline and operational efficiency measures. The company also completed private placement and ATM financings to strengthen its capital base.
Key Highlights
- Company plans to acquire 100% equity in a Hong Kong-based industrial equipment trading company.
- Q1 2026 revenue decreased 80.7% to $92,700 from $479,799 in Q1 2025.
- Q1 2026 net loss from continuing operations decreased 18.3% to $616,265.
- Operating loss decreased 20.4% to $764,319 due to lower SG&A expenses.
- Edward Transit Express Group Inc. revenue decreased 36.5% to $39,700.
- TW & EW Services Inc. revenue decreased 87.3% to $53,000.
- General and administrative expenses decreased 23.0% to $770,004.
- Cash and cash equivalents were $713,948 as of March 31, 2026.