v3.26.1
Schedule – Unaudited Condensed Financial Information of the Parent Company
 12 Months Ended
Dec. 31, 2025
Schedule – Unaudited Condensed Financial Information of the Parent Company [Line Items]  
SCHEDULE – UNAUDITED CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

SCHEDULE – UNAUDITED CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY

 

Rule 12-04(a), 5-04(c) and 4-08(e)(3) of Regulation S-X require the condensed financial information of the parent company to be filed when the restricted net assets of consolidated subsidiaries exceed 25 percent of consolidated net assets as of the end of the most recently completed fiscal year. The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with such requirement and concluded that it was applicable to the Company as the restricted net assets of the Company’s PRC subsidiaries and the VIE and its subsidiaries exceeded 25% of the consolidated net assets of the Company, therefore, the condensed financial information for the parent company are included herein.

 

For purposes of the above test, restricted net assets of consolidated subsidiaries and VIE and its subsidiaries shall mean that amount of the Company’s proportionate share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year may not be transferred to the parent company by subsidiaries and VIE and its subsidiaries in the form of loans, advances or cash dividends without the consent of a third party.

 

The unaudited condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries and the VIE and its subsidiaries. Such investment is presented on the condensed balance sheets as “Equity loss in subsidiaries and VIE” and the respective loss as “Equity in loss of subsidiaries and VIE” on the condensed statements of operations and comprehensive loss.

 

This schedule contains supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. Certain information and disclosures normally included in financial statements prepared in accordance with U.S GAAP have been condensed or omitted.

 

The Company did not pay any dividend for the periods presented. As of December 31, 2025 and 2024, there were no material contingencies, significant provisions for long-term obligations, or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any.

   As of December 31, 
   2025   2024 
ASSETS        
CURRENT ASSETS        
Cash and cash equivalents  $6,570,829   $39 
Due from related parties   150,700    155,872 
Prepaid expenses and other current assets   1,950,356    2,091,888 
TOTAL CURRENT ASSETS   8,671,885    2,247,799 
           
TOTAL ASSETS   8,671,885    2,247,799 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
CURRENT LIABILITIES          
Amounts due to related companies   5,858    5,858 
Accrued expenses and other current liabilities   84,015    51,518 
TOTAL CURRENT LIABILITIES   89,873    57,376 
           
NON-CURRENT LIABILITIES          
Equity loss in subsidiaries and VIE   11,711,186    3,284,501 
TOTAL NON-CURRENT LIABILITIES   11,711,186    3,284,501 
           
TOTAL LIABILITES   11,801,059    3,341,877 
           
DEFICIT          
Class A ordinary shares* (3,500,000,000 shares authorized; $0.0001 par value, 32,161,978 and 20,419,678 shares issued and outstanding as of December 31, 2025 and 2024, respectively)   3,215    2,041 
Class B ordinary shares* (1,500,000,000 shares authorized; $0.0001 par value, 6,567,272 shares issued and outstanding as of December 31, 2025 and 2024)   657    657 
Subscription receivable   
-
    (100,000)
Additional paid-in capital   51,503,802    37,915,085 
Warrant   910,593    
-
 
Statutory reserves   2,481,963    2,477,940 
Accumulated deficits   (58,029,404)   (41,389,801)
TOTAL DEFICIT   (3,129,174)   (1,094,078)
           
TOTAL LIABILITIES AND DEFICIT  $8,671,885   $2,247,799 

  

*Retrospectively restated for effect of share re-designation on April 8, 2024 (see Note 23).
    For the years ended December 31,  
    2025     2024     2023  
REVENUES, NET   $ -     $ -     $ -  
                         
COSTS OF REVENUES     543       1,652       184,617  
                         
GROSS LOSS     (543 )     (1,652 )     (184,617 )
                         
OPERATING EXPENSES     1,272,962       1,774,494       6,339,405  
                         
LOSS FROM OPERATIONS     (1,273,505 )     (1,776,146 )     (6,524,022 )
                         
OTHER EXPENSES     (6,536,390 )     (5,039 )     (87,468 )
                         
LOSS BEFORE EQUITY LOSS IN SUBSIDIARIES AND VIE     (7,809,895 )     (1,781,185 )     (6,611,490 )
                         
Equity loss in subsidiaries and VIE     (8,825,685 )     (9,995,251 )     (17,621,090 )
                         
NET LOSS ATTRIBUTABLE TO E-POWER INC. ORDINARY SHAREHOLDERS     (16,635,580 )     (11,776,436 )     (24,232,580 )
COMPREHENSIVE LOSS ATTRIBUTABLE TO E-POWER INC. ORDINARY SHAREHOLDERS   $ (16,635,580 )   $ (11,776,436 )   $ (24,232,580 )
   For the years ended December 31, 
   2025   2024   2023 
Net cash used in operating activities  $(773,372)  $(1,269,634)  $(1,516,279)
                
Net cash (used in) provided by investing activities   (399,000)   1,071,942    878,000 
                
Net cash provided by (used in) financing activities   7,743,162    (150,000)   
-
 
                
Increase (Decrease) in cash and cash equivalents   6,570,790    (347,692)   (638,279)
                
Cash and cash equivalents, beginning of year   39    347,731    986,010 
Cash and cash equivalents, end of year  $6,570,829   $39   $347,731