Cheetah Net Supply Chain Service Inc
CHEETAH NET SUPPLY CHAIN SERVICE INC. is a U.S.-based logistics and warehousing company that originally built its business around parallel-import vehicles sourced in the United States for resale into the PRC market. After a sharp collapse in that vehicle business, the company discontinued the segment in March 2025 and shifted its focus to cross-border logistics, warehousing, labor support, and trade coordination between the U.S. and China. The company relocated its headquarters to Irvine, California to be closer to the ports of Los Angeles and Long Beach, which are central to its current operating model. Its recent acquisitions of Edward and TWEW show a pivot toward service-based revenue tied to international trade flows rather than vehicle sales. The business is now exposed to U.S.-China trade policy, port activity, and customer demand for freight, warehousing, and labor services in California.
Fiscal year 2025 · change from previous year
Development 2022–2025
Business
Share of revenueStorage, handling, and movement of goods tied to cross-border trade flows, especially between the U.S. and the PRC.
General labor support and coordination services provided through the TWEW acquisition.
Services linked to arranging shipments and managing international trade execution for customers.
Historical vehicle sourcing and resale business that has been discontinued and reclassified as discontinued operations.
Customers
The company serves customers engaged in cross-border commerce between the United States and the PRC, including importers and traders that need freight handling, warehousing, and logistics coordination. Historically, it also served buyers and counterparties in the PRC parallel-import vehicle market, where demand depended on luxury vehicle pricing, consumer preferences, and trade conditions. The current customer base appears to be concentrated in California and tied to port-driven trade activity, which makes shipment volumes sensitive to tariffs, customs friction, and macroeconomic conditions. The company also appears to sell labor and logistics support to businesses that need flexible operational staffing and coordination rather than asset-heavy transport infrastructure. Customer concentration and receivable collection risk are important because the company has already reported difficulty collecting from customers during the downturn in its legacy vehicle business.
Importers and exporters that buy logistics, warehousing, and shipment coordination to move goods across the Pacific.
Customers operating near the Los Angeles and Long Beach ports that need local warehousing, labor, and coordination services.
Businesses that outsource general labor support for logistics and warehouse operations through the TWEW business.
Historical PRC market participants that bought imported vehicles, but this segment is now discontinued.
Strategy
The company has executed a strategic exit from its collapsing parallel-import vehicle business and is repositioning itself as a logistics and warehousing operator. It has used acquisitions to build capability quickly, first through Edward for international trade-related services and then through TWEW for labor and logistics support. Relocating headquarters to Irvine was intended to improve management focus and align the business with port-centric operations in Southern California. Management is also trying to diversify service mix and improve operational efficiency as trade volumes remain volatile. The strategy is essentially a pivot from a product-trading model to a service model with lower inventory risk but continued exposure to trade-cycle and customer-demand swings.
The company is relying on Edward and TWEW to replace the discontinued vehicle business, so integration is essential to stabilize revenue and operations.
Being close to the Los Angeles and Long Beach ports should improve customer access and operational responsiveness in cross-border logistics.
The discontinued vehicle business suffered severe demand and collection deterioration, making service-based revenue more resilient.
Geography
Q1/2026The company is now operationally centered in Irvine, California, after relocating its headquarters from Charlotte in July 2024. Its logistics model is tied to the ports of Los Angeles and Long Beach, which are critical gateways for U.S.-Asia trade and therefore central to its customer flow. The business is exposed to the PRC through its cross-border trade services and historically through vehicle sales into the PRC market. Because shipment volumes depend on trade negotiations, tariffs, and port throughput, geography is not just a location issue but a core driver of demand and operating risk. The legacy vehicle business was tied to the overseas market, while the current business is more concentrated in California-based operations serving international trade lanes.
Share of the revenue the company reports by geography.
Risks
The company faces substantial exposure to U.S.-China trade tensions, tariffs, and policy uncertainty, which can quickly reduce shipment volumes and disrupt customer ordering patterns. Its current business is still relatively small and concentrated in California, so any slowdown at the ports or loss of a few customers could materially affect results. The legacy vehicle business demonstrated how quickly demand can collapse when consumer preferences shift, competition intensifies, or macroeconomic conditions weaken. Receivable collection risk is also important because management has already recorded a credit loss after customers became financially strained and some balances proved uncollectible. More generally, logistics and warehousing businesses face margin pressure from pricing competition, labor availability, fuel and freight cost volatility, and operational disruptions.
The company’s logistics volumes depend on cross-border trade flows, which were explicitly disrupted by tariff threats and negotiations.
Exposure: Shipment volumes and customer ordering patterns
The company already experienced a severe decline in parallel-import vehicle sales due to macro weakness and EV substitution.
Exposure: Discontinued operations and historical revenue base
Management recorded a credit loss after failing to collect balances from customers, indicating counterparty risk.
Exposure: Working capital and earnings
The company’s current operating model is centered around Southern California ports and local logistics activity.
Exposure: Operational continuity and regional demand
Accounting
Judgemental itemsThe parallel-import vehicle business was discontinued and reclassified, so continuing operations no longer reflect the legacy revenue stream.
Impact: Affects trend analysis, segment comparability, and reported operating results
Service revenue depends on delivery timing and contract completion, which can shift revenue between periods.
Impact: Affects quarterly revenue timing and margin comparability
Management recorded a credit loss due to uncollectible customer balances, requiring judgment about recoverability.
Impact: Affects earnings and working capital quality
Recent acquisitions create acquired assets that must be tested if performance weakens.
Impact: Could materially reduce reported equity and earnings if impaired
Similar listed companies
Publicly listed companies with a comparable business focus.
C.H. Robinson Worldwide, Inc
CHRW · Arrangement of Transportation of Freight & Cargo
C.
Chevron Corporation
CVX · Petroleum Refining
Chevron Corp is a U.S.-based integrated energy company that manages upstream oil and gas production, LNG, and carbon capture activities alongside downstream…
Trinity Industries, Inc
TRN · Railroad Equipment
Trinity Industries is a U.S.-based rail equipment company organized around railcar leasing and railcar manufacturing.
Chefs' Warehouse, Inc.
CHEF · Wholesale-Groceries, General Line
Cheetah Mobile Inc.
CMCM · Services-Prepackaged Software
Greenland Technologies Holding Corp.
GTEC · General Industrial Machinery & Equipment
Last updated: 24/09/2026