Cheetah Net Supply Chain Service Inc. FY23 EPS $0.01 Vs $0.05 YoY
Cheetah Net Supply Chain Service Inc. FY23 EPS $0.01 Vs $0.05 YoY
2023 Financial Results
2023 年财务业绩
During the fiscal year ended December 31, 2023, our financial performance reflected the consequences of strategic decisions and external market forces. Our revenue experienced a substantial decline compared to the previous year. Revenue from our operations decreased by $16.8 million, or 30.5%, from approximately $55.2 million in 2022 to $38.4 million in 2023. This decline can be primarily attributed to an intentional pause in vehicle procurement in the fourth quarter, prompted by a price volatility in the PRC market and the results of an earlier shift in our procurement pricing strategy. The impact of these factors was particularly pronounced in the fourth quarter of 2023.
在截至2023年12月31日的财政年度中，我们的财务业绩反映了战略决策和外部市场力量的后果。与去年相比，我们的收入大幅下降。我们的运营收入减少了1,680万美元，下降了30.5％，从2022年的约5,520万美元降至2023年的3,840万美元。这种下降主要归因于第四季度有意暂停汽车采购，这是由于中国市场的价格波动以及我们早些时候采购定价策略转变的结果。这些因素的影响在2023年第四季度尤其明显。
Total cost of revenue decreased by $16.6 million, or 32.8%, from $50.7 million in 2022 to $34.1 million in 2023. Our cost of revenue amounted to 88.9% and 91.9%, respectively, of our revenue. Our total cost of revenue decreased in line with the reduced revenue, indicating effective cost control measures. The procurement strategy shift, initiated earlier in 2023, was a significant factor in this decrease, allowing us to manage costs more effectively despite external market pressures.
总收入成本下降了1,660万美元，下降了32.8％，从2022年的5,070万美元降至2023年的3,410万美元。我们的收入成本分别占收入的88.9％和91.9％。我们的总收入成本随着收入的减少而下降，这表明了有效的成本控制措施。2023年初启动的采购策略转变是造成这一下降的重要因素，使我们能够在外部市场压力下更有效地管理成本。
Selling expenses decreased by 25.7% to $0.7 million, representing 1.7% of our revenue, a slight increase from 1.6% in 2022. This change is due to a 29.9% reduction in ocean freight expenses and 19.1% decrease in payroll and benefits, despite a 191.2% increase in other expenses. The decrease in selling expenses can be attributed primarily to a reduction in the number of vehicles sold during the fourth quarter.
销售费用下降了25.7％，至70万美元，占我们收入的1.7％，较2022年的1.6％略有增加。这一变化是由于尽管其他费用增加了191.2％，但海运费用减少了29.9％，工资和福利减少了19.1％。销售支出的减少主要归因于第四季度售出车辆数量的减少。
Income from operations was $1.4 million in 2023, compared with $2.1 million the previous year.
2023年的运营收入为140万美元，而去年同期为210万美元。
Total other expenses consisted primarily of interest expense, which decreased significantly by approximately $1.2 million, or 49.2%, to $1.2 million for the year ended December 31, 2023, from $2.4 million for the year ended December 31, 2022, primarily due to the significant drop of inventory financing activities, reduced letter of credit financing activities, and the completion of our IPO in the third quarter of 2023.
其他支出总额主要包括利息支出，利息支出从截至2022年12月31日止年度的240万美元大幅减少了约120万美元，至2023年12月31日止年度的120万美元，降幅为49.2％，这主要是由于库存融资活动大幅下降、信用证融资活动减少以及我们在2023年第三季度完成首次公开募股。
Net income in 2023 was $0.1 million, or $0.01 per share, compared with net income of $0.8 million, or $0.05 per share, for 2022.
2023年的净收入为10万美元，合每股收益0.01美元，而2022年的净收入为80万美元，合每股收益0.05美元。