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Cheetah Net Supply Chain Service Priced, Nasdaq: CTNT

Sells parallel import luxury cars in China.

Industry: Consumer Discretionary

Latest Trade: $1.70 -0.06 (-3.2%)

First Day Return: +72.5%

Return from IPO: -97.3%

We are a supplier of parallel-import vehicles sourced in the U.S. to be sold in the PRC market. In the PRC, parallel-import vehicles refer to those purchased by dealers directly from overseas markets and imported for sale through channels other than brand manufacturers’ official distribution systems. To our knowledge, there are currently no U.S. federal or state laws, regulation, or rules on trade or export that prohibit the export of vehicles that will be parallel imported into foreign countries. Nonetheless, manufacturers and their distributors sometimes regard parallel-import vehicles as a competitor to their network of franchised dealerships, and thus may take measures to limit or reduce the opportunities for third parties, such as parallel-import vehicle dealers, to profit through leveraging the manufacturers’ different pricing strategies across the world. In China, sales of parallel-import vehicles have benefited from a series of related regulations and policies that have been promulgated by the PRC government since 2016. Such regulations and policies are in compliance with U.S. laws on trade and export. We purchase automobiles, primarily luxury brands such as Mercedes, BMW, Porsche, Lexus, and Bentley, from the U.S. market and resell them to our customers, including both U.S. and PRC parallel-import car dealers. We derive profits primarily from the price difference between our buying and selling prices for parallel-import vehicles.
IPO Data
IPO Date 07/31/2023
Offer Price $4.00
Price Range $4.00 - $6.00
Offer Shares (mm) 1.3
Deal Size ($mm) $5
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
Maxim Group LLC
Company Data
Headquarters Charlotte, NC, United States
Founded 2016
Employees at IPO 20
Website www.cheetah-net.com

Cheetah Net Supply Chain Service (CTNT) Performance

Created with Highcharts 10.3.2Chart context menuCTNT vs. IPO Index (IPOUSA)Aug 2023Aug 20…Oct 2023Dec 2023Feb 2024Apr 2024Jun 2024Aug 2024Oct 2024Dec 2024Feb 2025Apr 2025Jun 2025Aug 2025-150%-100%-50%0%+ 50%View 5 days5dView 1 month1mView 3 months3mView year to dateYTDView 1 year1yView allAllRenaissance IPO IndexCTNTOur ETF tracks the IPO Index