v3.25.2
CONDENSED PARENT ONLY FINANCIAL STATEMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
SCHEDULE OF PARENT COMPANY CONDENSED BALANCE SHEET

 

   2024   2023 
   As of 
   December 31, 
   2024   2023 
Assets          
Investment in subsidiaries  $9,321,708   $5,653,553 
Total Assets   9,321,708    5,653,553 
           
Liabilities and Shareholders’ Equity          
Shareholders’ equity:          
Common stock (par value of $0.001 per share, 50,000,000 authorized, 8,630,000 and 6,400,000 shares issued and outstanding, as of December 31, 2024 and 2023, respectively)   8,630    6,400 
Subscription receivable   -    - 
Additional paid-in capital   8,781,273    3,013,333 
Retained earnings   1,109,567    3,011,610 
Accumulated other comprehensive income   (577,762)   (377,790)
Statutory reserve   -    - 
Equity attributable to LOBO EV Technologies LTD’s shareholders  $9,321,708   $5,653,553 
Total shareholders’ equity   9,321,708    5,653,553 
Total Liabilities and Shareholders’ Equity   9,321,708    5,653,553 
SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF OPERATION

 

   2024   2023 
   For the year ended December 31, 
   2024   2023 
Revenues  $-   $- 
Cost of revenues   -    - 
Gross Profit   -    - 
           
Operating expenses          
Selling and marketing expenses   -    - 
General and administrative expenses   -    - 
Research and development expenses   -    - 
Total operating expenses   -    - 
           
Operating income   -    - 
           
Other expenses (income)          
Interest expense (income)   -    - 
Other (income) expense   -    - 
Total other expenses, net   -    - 
Income before income tax expense   -    - 
Income tax expense   -    - 
Equity income of subsidiaries   (812,836)   969,598 
Net Income  $(812,836)  $969,598 
           
Other comprehensive income (loss):          
Foreign currency translation adjustments   (199,972)   (182,890)
Total comprehensive income  $(1,012,808)  $786,708 
SCHEDULE OF PARENT COMPANY CONDENSED STATEMENT OF CASH FLOWS

 

   2024   2023 
   For the year ended December 31, 
   2024   2023 
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income  $(812,836)  $969,598 
Adjustment to reconcile net income to net cash provided by (used in) operating activities          
Equity income of subsidiaries   812,836    (969,598)
Net cash provided by (used in) operating activities   -    - 
           
CASH FLOWS FROM INVESTING ACTIVITIES          
Net cash used in investing activities   -    - 
           
CASH FLOWS FROM FINANCING ACTIVITIES          
Net cash provided by financing activities   -    - 
           
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS   -    - 
CASH AND CASH EQUIVALENTS, beginning of period   -    - 
CASH AND CASH EQUIVALENTS, end of period  $-   $-