v3.25.2
Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 1,379,434 $ 470,335
Restricted cash 510,156
Accounts receivable, net 1,506,894 2,532,551
Inventories, net 8,592,767 5,737,781
Short-term investments 56,768
Prepaid expenses and other current assets 7,689,423 7,307,478
Assets held for sale 1,527,589
Total current assets 21,206,263 16,104,913
Property and equipment, net 728,438 1,080,747
Intangible assets, net 871,044 1,916,362
Operating lease right-of-use assets, net 1,037,883 569,462
Deferred tax assets 175,960  
Total Assets 24,019,588 19,671,484
Current liabilities:    
Accounts payable 2,217,720 929,816
Advances from customers 1,843,976 1,555,424
Other current payables 1,798,252 370,913
VAT payable 550,439 6,078,846
Taxes payable 383,719 2,372,646
Short-term Loan 132,777
Convertible  note payable, net 12,820
Liabilities held for sale 5,486,344
Operating lease liabilities, current 768,544 362,720
Total current liabilities 13,907,001 13,341,736
Long-term Loan 236,513 140,847
Operating lease liabilities, non-current 554,366 298,961
Other payables 11,320
Total liabilities 14,697,880 13,792,864
Commitments and contingencies
Equity:    
Common stock* (par value of $0.001 per share, 50,000,000 shares authorized, 8,630,000 and 6,400,000 ordinary shares issued as of December 31, 2024 and 2023, respectively; 7,780,000and 6,400,000 ordinary shares outstanding as of December 31, 2024 and 2023, respectively) 8,630 6,400
Additional paid-in capital 8,781,273 3,013,333
Retained earnings 644,930 2,490,044
Accumulated other comprehensive income (577,762) (377,790)
Statutory reserve 464,637 521,566
Total LOBO EV Technologies LTD’s shareholders’ equity 9,321,708 5,653,553
Non-controlling interest 225,067
Total Equity 9,321,708 5,878,620
Total Liabilities and Equity 24,019,588 19,671,484
Related Party [Member]    
Current liabilities:    
Amounts due to related parties $ 712,410 $ 1,671,371