CHEETAH NET SUPPLY CHAIN SERVICE INC. 8-K

What Happened
Cheetah Net Supply Chain Service Inc. (CTNT) announced on March 25, 2026 that it entered into a Stock Purchase Agreement to sell all 10,000 shares (100% ownership) of its subsidiary, Edward Transit Express Group, Inc., to buyer Bing Shao for an aggregate purchase price of $20,000 payable in cash at closing. The subsidiary provides ocean package transportation and freight forwarding services. The parties expect to close within 20 calendar days after execution, subject to mutual agreement.

Key Details

• Seller: Cheetah Net Supply Chain Service Inc.; Buyer: Bing Shao (non-U.S. individual); Subsidiary: Edward Transit Express Group, Inc.
• Purchase Price: $20,000 in cash at closing.
• Shares sold: 10,000 common shares, par value $0.01 — constituting all issued and outstanding shares of the Subsidiary.
• Additional terms: Seller will sign a Support and Restrictive Covenant Agreement with mutual non-disparagement obligations and provided a general release of pre-closing claims against the Subsidiary and its personnel (with certain exceptions).

Why It Matters
This sale reduces Cheetah Net’s direct involvement in ocean freight forwarding operations and is described as a move to streamline operations and limit potential adverse effects from the Subsidiary on the Company’s results. The transaction will convert the Subsidiary into immediate cash consideration ($20,000) and may free management to pursue new strategic acquisition opportunities; investors should note the modest sale proceeds and that no financial estimates or pro forma impacts were provided in the filing.