| Schedule of Reportable Segment’s Revenue and Income |
The
following tables present a summary of each reportable segment’s revenue and income from continuing operations—excluding the
e-bicycle sales segment, which is disclosed as a discontinued operation for the six months ended March 31, 2024, and 2025:
| | |
Six months Ended March 31, 2024 | |
| | |
Battery cells
and packs
sales
segment | | |
Electronic
control
system sales
segment | | |
Others | | |
Total | |
| Revenue from external customers | |
$ | 5,847,751 | | |
$ | 739,390 | | |
$ | 216,821 | | |
$ | 6,803,962 | |
| Segment loss before tax and share of loss of equity method investments | |
| (172,846 | ) | |
| (1,825,115 | ) | |
| (1,171,071 | ) | |
| (3,169,032 | ) |
| Segment gross profit margin | |
| 4.4 | % | |
| 43.7 | % | |
| 14.4 | % | |
| 8.9 | % |
| | |
Six months Ended March 31, 2025 | |
| | |
Battery cells
and packs
sales
segment | | |
Electronic
control
system sales
segment | | |
Others | | |
Total | |
| Revenue from external customers | |
$ | 5,518,183 | | |
$ | 636,356 | | |
$ | 410,828 | | |
$ | 6,565,367 | |
| Segment loss before tax and share of loss of equity method investments | |
| (88,207 | ) | |
| (95,106 | ) | |
| (729,628 | ) | |
| (912,941 | ) |
| Segment gross profit margin | |
| 4.5 | % | |
| 41.7 | % | |
| 38.9 | % | |
| 10.2 | % |
|
| Schedule of Reconciliation from Reportable Segment Income |
The
following table presents the reconciliation from reportable segment income to the consolidated income from continuing operations before
income taxes for the six months ended March 31, 2024 and 2025:
| | |
Six months ended
March 31, | |
| | |
2024 | | |
2025 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Net revenues | |
| | |
| |
| Battery cells and packs sales | |
$ | 5,847,751 | | |
$ | 5,518,183 | |
| Electronic control system sales | |
| 739,390 | | |
| 636,356 | |
| Others | |
| 216,821 | | |
| 410,828 | |
| Total net revenues | |
| 6,803,962 | | |
| 6,565,367 | |
| | |
| | | |
| | |
| Cost of revenues | |
| | | |
| | |
| Battery cells and packs sales | |
| 5,592,773 | | |
| 5,271,930 | |
| Electronic control system sales | |
| 416,635 | | |
| 370,868 | |
| Others | |
| 185,670 | | |
| 251,101 | |
| Total cost of revenues | |
| 6,195,078 | | |
| 5,893,899 | |
| | |
| | | |
| | |
| Gross profit | |
| | | |
| | |
| Battery cells and packs sales | |
| 254,978 | | |
| 246,253 | |
| Electronic control system sales | |
| 322,755 | | |
| 265,488 | |
| Others | |
| 31,151 | | |
| 159,727 | |
| Total Gross profit | |
| 608,884 | | |
| 671,468 | |
| | |
| | | |
| | |
| Reconciliation of profit or loss: | |
| | | |
| | |
| Selling and marketing | |
| (149,223 | ) | |
| (117,772 | ) |
| General and administrative | |
| (1,837,698 | ) | |
| (1,200,042 | ) |
| Research and development | |
| (395,435 | ) | |
| (389,572 | ) |
| Total operating expenses | |
| (2,382,356 | ) | |
| (1,707,386 | ) |
| | |
| | | |
| | |
| Loss from operations | |
| (1,773,472 | ) | |
| (1,035,918 | ) |
| | |
| | | |
| | |
| Fair value changes in contingent asset | |
| (310,667 | ) | |
| - | |
| Impairment loss of goodwill | |
| (1,362,044 | ) | |
| - | |
| Other income | |
| 277,151 | | |
| 122,977 | |
| Loss from continuing operations before income tax and share of loss of equity method investments | |
$ | (3,169,032 | ) | |
$ | (912,941 | ) |
| Loss from discontinued operations before income tax and share of loss of equity method investments | |
| (1,472,451 | ) | |
| (165,626 | ) |
| Loss before income tax and share of loss of equity method investments | |
| (4,641,483 | ) | |
| (1,078,567 | ) |
|