v3.25.2
Non-controlling Interests
12 Months Ended
Dec. 31, 2024
Non-controlling Interests  
Non-controlling Interests

Note 18 – Non-controlling Interests

 

A reconciliation of non-controlling interest as of December 31, 2024 and 2023 is as follows:

 

 

 

December 31,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Beginning balance

 

$(2,712,752)

 

$(2,148,964)

Proportionate shares of net loss

 

 

(323,515)

 

 

(565,301)

Foreign currency translation adjustment

 

 

4,592

 

 

 

1,513

 

Total

 

$(3,031,675)

 

$(2,712,752)

 

As of December 31, 2024 and 2023, the non-controlling interests balance represents the noncontrolling shareholder’s 30% equity interests in Shangchi Automobile (formerly known as Suzhou E-Motors) and its subsidiary Shenzhen Yimao.