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 年財務業績
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日的財政年度中，我們的財務業績反映了戰略決策和外部市場力量的後果。與去年相比，我們的收入大幅下降。我們的運營收入減少了1,680萬美元，下降了30.5％，從2022年的約5,520萬美元降至2023年的3,840萬美元。這種下降主要歸因於第四季度有意暫停汽車採購，這是由於中國市場的價格波動以及我們早些時候採購定價策略轉變的結果。這些因素的影響在2023年第四季度尤其明顯。
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.
總收入成本下降了1,660萬美元，下降了32.8％，從2022年的5,070萬美元降至2023年的3,410萬美元。我們的收入成本分別佔收入的88.9％和91.9％。我們的總收入成本隨着收入的減少而下降，這表明了有效的成本控制措施。2023年初啓動的採購策略轉變是造成這一下降的重要因素，使我們能夠在外部市場壓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.
銷售費用下降了25.7％，至70萬美元，佔我們收入的1.7％，較2022年的1.6％略有增加。這一變化是由於儘管其他費用增加了191.2％，但海運費用減少了29.9％，工資和福利減少了19.1％。銷售支出的減少主要歸因於第四季度售出車輛數量的減少。
Income from operations was $1.4 million in 2023, compared with $2.1 million the previous year.
2023年的運營收入爲140萬美元，而去年同期爲210萬美元。
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.
其他支出總額主要包括利息支出，利息支出從截至2022年12月31日止年度的240萬美元大幅減少了約120萬美元，至2023年12月31日止年度的120萬美元，降幅爲49.2％，這主要是由於庫存融資活動大幅下降、信用證融資活動減少以及我們在2023年第三季度完成首次公開募股。
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年的淨收入爲10萬美元，合每股收益0.01美元，而2022年的淨收入爲80萬美元，合每股收益0.05美元。
譯文內容由第三人軟體翻譯。