Cheetah Net Supply Chain Service Inc. reported revenue of $361.9 thousand from its logistics and warehousing business for the quarter ended September 30, 2025, a 491.3% increase compared to the same period in 2024. The company recorded an operating loss of $1.3 million, which included an impairment loss of $731.3 thousand on intangible assets and goodwill. After interest income of $269.9 thousand, the net loss for the quarter was $1.3 million, a 15.0% decrease from the prior year. For the nine months ended September 30, 2025, the overall net loss was $2.6 million, compared to $3.0 million for the same period in 2024. The company noted continued challenges from tariff-related disruptions and slow recovery in logistics demand, with management focusing on expanding labor and service operations, optimizing proceeds from prior offerings, and strengthening cost control. No revenue was reported from the discontinued parallel-import vehicle business during the quarter.