Cheetah Net Supply Chain Service Inc. has taken a firm stand against a takeover attempt by Takeover Time 2026 LLC. The company filed a consent revocation statement on November 13, 2026, urging its shareholders to reject the proposals put forth by the takeover group. This move is significant as it underscores the ongoing governance challenges within the wholesale motor vehicle and parts industry.

The filing, which is accessible under accession number 0001104659-26-126566, details the board's opposition to the solicitation of written stockholder consents by Takeover Time. The takeover group, which includes Natasha Yuryevna Ovsepyan and others, seeks to replace the entire board of directors without a formal meeting of shareholders.

The board of Cheetah Net, which operates under the ticker CTNT on the Nasdaq, has expressed concerns about the takeover group's ability to serve the interests of all shareholders. They argue that the takeover group's proposals, which include fixing the number of directorships at five and removing all current directors, do not demonstrate a clear benefit to the company or its stakeholders.

Founded in Delaware, Cheetah Net is categorized under the SIC code 5010, focusing on wholesale motor vehicles and motor vehicle parts and supplies. The company has been actively communicating with its shareholders regarding the implications of the takeover attempt, emphasizing the importance of maintaining the current board's oversight and governance strategies.

The consent revocation statement outlines the board's commitment to acting in the best interests of its shareholders, urging them not to sign any consent card sent by the takeover group. The board believes that a consent in favor of the takeover proposals would effectively transfer control of the company to a group that has not demonstrated sufficient qualifications or plans to improve the company's performance.

The board's message is clear: they are committed to improving the company's financial performance, governance, and operational controls. They have also raised concerns about issues such as stock dilution and financial reporting controls, which the takeover group has highlighted in their solicitation.

As the situation develops, Cheetah Net's board is encouraging shareholders to return the enclosed white consent revocation card to make their opposition known. The record date for determining eligible shareholders to execute, withhold, or revoke consents was set for October 19, 2026. This date is crucial as it determines who has the right to participate in the consent solicitation process.

The filing does not specify what actions will follow this consent revocation statement, but it is clear that the board is taking proactive steps to defend its position against the takeover attempt. As corporate governance continues to evolve, Cheetah Net's situation reflects broader trends in shareholder activism and the challenges faced by companies in maintaining control amidst external pressures.