Cheetah Net Appoints New CEO, Chairman; Director Departs

TL;DR

Cheetah Net has a new CEO (Xiaojun Wang) and Chairman, effective July 2nd. Jianhua Li is out as a director.

AI Summary

Cheetah Net Supply Chain Service Inc. filed an 8-K on July 8, 2024, reporting several key events. These include the departure of director Jianhua Li, the election of new directors Xiaojun Wang and Jianhua Li, and the appointment of Xiaojun Wang as Chief Executive Officer and Chairman of the Board, effective July 2, 2024. The company also announced a change in its fiscal year end to December 31st.

Why It Matters

The appointment of a new CEO and Chairman, along with a director's departure, signals a potential shift in leadership and strategic direction for Cheetah Net Supply Chain Service Inc.

Risk Assessment

Risk Level: medium — Changes in key leadership roles like CEO and Chairman can introduce uncertainty and potential strategic shifts, impacting the company's future performance.

Key Numbers

• 1231 — Fiscal Year End (The company has changed its fiscal year end to December 31st.)

Key Players & Entities

• Cheetah Net Supply Chain Service Inc. (company) — Registrant
• Jianhua Li (person) — Departing Director
• Xiaojun Wang (person) — Elected Director, Appointed CEO and Chairman
• July 2, 2024 (date) — Effective date of leadership changes
• July 8, 2024 (date) — Filing date of the 8-K

FAQ

Key Financial Figures

• $100,000 — stock options in a year may not exceed $100,000. The foregoing summary description of

Filing Documents

• tm2418978d1_8k.htm (8-K) — 48KB
• tm2418978d1_ex3-1.htm (EX-3.1) — 15KB
• tm2418978d1_ex10-1.htm (EX-10.1) — 36KB
• tm2418978d1_ex10-2.htm (EX-10.2) — 75KB
• tm2418978d1_ex10-3.htm (EX-10.3) — 67KB
• 0001104659-24-078340.txt ( ) — 465KB
• ctnt-20240702.xsd (EX-101.SCH) — 3KB
• ctnt-20240702_lab.xml (EX-101.LAB) — 33KB
• ctnt-20240702_pre.xml (EX-101.PRE) — 22KB
• tm2418978d1_8k_htm.xml (XML) — 4KB

02 Departure of Directors or Certain

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. The information set forth under Item 5.07 of this Current Report on Form 8-K is incorporated by reference into this Item 5.02. The 2024 annual meeting of stockholders of Cheetah Net Supply Chain Service Inc. (the "Company") took place on July 2, 2024 (the "Annual Meeting"). Prior to the Annual Meeting, the Company decided not to nominate Mr. Vladimir Gavrilovic, a director of the Company and the chair of the audit committee of the Company's board of directors (the "Board") since July 2023, for director re-election. The Company and Mr. Gavrilovic did not have any disagreements. Consequently, Mr. Gavrilovic ceased to be a director of the Company and a member of any committee of the Board, effective July 2, 2024. Pursuant to the results of the Annual Meeting, Mr. Huibo Deng, a director nominee nominated by the Board, assumed the roles of director of the Company and chair of the audit committee of the Board, effective July 2, 2024. Since 2021, Mr. Deng has been a visiting professor at the Chinese Academy of Management Sciences, teaching various management and finance courses. From January 2023 to July 2023, Mr. Deng served as the Vice President at Shenzhen Dexun Securities Advisory Co., Ltd., where he was responsible for strategy development and relationship management related to the financial market. From June 2017 to November 2018, Mr. Deng was a general manager at China Travel Group Zhonglv Bank, overseeing relationship management and business opportunities exploration. Mr. Deng obtained his bachelor's degree in Finance from Dongbei University of Finance and Economics in 2009 and his master's degree in Statistics from Dalarna University in 2010. He earned a Ph.D. in Finance from Renmin University of China in 2014. The Company believes Mr. Deng is well-qualified to serve as its director due to Mr. Deng's exper

03 Amendments to Articles of Incorporation

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. The information set forth under Item 5.07 of this Current Report on Form 8-K is incorporated by reference into this Item 5.03. Pursuant to the results of the Annual Meeting, the Second Amended and Restated Articles of Incorporation of the Company, as in effect immediately prior to the Annual Meeting, was amended and restated to be in the form of the Third Amended and Restated Articles of Incorporation attached as Exhibit 3.1 hereto. Such exhibit is incorporated by reference into this Item 5.03.

07 Submission of Matters to a Vote of

Item 5.07 Submission of Matters to a Vote of Security Holders. At the Annual Meeting, the Company's stockholders voted on the matters described below. (1) The Company's stockholders elected five directors, each to serve until the 2025 annual meeting of stockholders and until their respective successors have been elected and qualified or until their earlier resignation or removal. The number of shares that (a) voted for the election of each director and (b) withheld authority to vote for each director is summarized in the table below: Director Nominee Votes For Votes Withheld Huan Liu 130,339,088 3,554 Xianggeng Huang 130,339,088 3,554 Adam Eilenberg 130,338,726 3,916 Huiping (Catherine) Chen 130,339,088 3,554 Huibo Deng 130,339,088 3,554 There were 2,184,740 broker non-votes with respect to the election of the five directors. Broker non-votes represent shares held by broker nominees for beneficial owners that were not voted because the broker nominee did not receive voting instructions from the beneficial owner and lacked discretionary authority to vote the shares on a non-routine proposal. (2) The Company's stockholders ratified the appointment of Assentsure PAC as the independent registered public accounting firm of the Company for the year ending December 31, 2024 (the "Appointment"). The number of shares that (a) voted for the Appointment, (b) voted against the Appointment, and (c) withheld authority to vote for the Appointment is summarized in the table below: Votes For Votes Against Votes Withheld 132,502,168 25,199 15 There were no broker non-votes with respect to the ratification of the Appointment. (3) The Company's stockholders approved the Company's 2024 Stock Incentive Plan. The number of shares that (a) voted for the 2024 Stock Incentive Plan, (b) voted against the 2024 Stock Incentive Plan, and (c) withheld authority to vote for the 2024 Stock Incentive Plan is summarized in the table below: Vot

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Exhibit 3.1 Third Amended and Restated Articles of Incorporation of the Company 10.1 Director Offer Letter dated July 2, 2024 between Huibo Deng and the Company 10.2 Indemnification Agreement dated July 2, 2024 between Huibo Deng and the Company 10.3 The Company's 2024 Stock Incentive Plan 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: July 8, 2024 Cheetah Net Supply Chain Service Inc. By: /s/ Huan Liu Huan Liu Chief Executive Officer, Director, and Chairman of the Board of Directors

View Full Filing

View this 8-K filing on SEC EDGAR