v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Millions
3 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
Cash flows from operating activities:    
Net Loss $ (616,265) $ (753,909)
Loss from continuing operations (616,265) (753,909)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:    
Depreciation 9,882 9,882
Amortization of operating lease right-of-use assets 142,093 79,730
Amortization of intangible assets 23,511 28,071
Share-based compensation expenses 14,182 16,185
Changes in operating assets and liabilities:    
Accounts receivable 4,890 (11,083)
Other receivables, net 458,806 (230,166)
Due from/to related party 1,509  
Prepaid expenses and other current assets (2,152,338) 90,856
Other payables and other current liabilities (205,424) 5,734
Operating lease liabilities (138,785) (7,674)
Cash used in operating activities-continuing operations (2,457,939) (772,374)
Cash provided by operating activities-discontinued operations   2,540,500
Net cash provided by (used in) operating activities (2,457,939) 1,768,126
Cash flows from investing activities:    
Deposit on long-term investment (40,131,287)  
Loans made to third parties (980,000) (3,075,400)
Loans repayment received from third parties 3,968,598 49,000
Cash used in investing activities-continuing operations (37,142,689) (3,026,400)
Net cash used in investing activities (37,142,689) (3,026,400)
Cash flows from financing activities:    
Proceeds from PIPE 40,140,000  
Repayments of premium finance (49,297) (59,590)
Repayments of long-term borrowings (9,344) (8,949)
Cash provided by financing activities-continuing operations 40,081,359 (68,539)
Net cash provided by (used in) financing activities 40,081,359 (68,539)
Net increase in cash 480,731 (1,326,813)
Cash, beginning of period 233,217 1,650,955
Cash, end of period 713,948 324,142
Cash of continuing operations 713,948 324,142
Supplemental cash flow information    
Cash paid for income taxes 2,155 155
Cash paid for interests $ 7,700 $ 8,812