Cheetah Net Supply Chain Service Inc. ("Cheetah" or the "Company") (Nasdaq CM: CTNT) today announced that it has entered into a Membership Interest Purchase Agreement (the "Agreement") to acquire 100% of the membership interests of JoyPak Supply LLC ("JoyPak"), a Nevada limited liability company, primarily engaged in the sale of consumer, beauty, personal care and other everyday-use products, from a Delaware limited liability company and a Texas limited liability company (collectively, the "Sellers") (the "Acquisition").

The aggregate purchase price for the Acquisition is $788,000, which will be paid in cash. The closing of the Acquisition is expected to occur within four weeks of the execution of the Agreement, subject to the completion of the Company’s due diligence review and other closing conditions.

Following the completion of the Acquisition, JoyPak will become a wholly owned subsidiary of the Company. The Company believes that the Acquisition will further diversify its product mix, and enable the Company to enter the consumer, beauty, personal care and other everyday-use product categories. The Acquisition is also expected to support the Company’s broader business diversification efforts and long-term growth strategy.