| Schedule of Revenues, Cost of Revenues and Gross (Loss) Profits by Segment |
The Company’s CODM evaluates performance
based on each reporting segment’s revenues and costs of revenues. Revenues, cost of revenues and gross (loss) profits by segment
were presented below.
| | |
For the years ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| REVENUES, NET | |
| | |
| | |
| |
| Graphite anode business | |
$ | 46,342,154 | | |
$ | 64,365,362 | | |
$ | 44,384,004 | |
| Knowledge sharing and enterprise business | |
| 73,978 | | |
| 632,379 | | |
| 666,401 | |
| Total revenues | |
| 46,416,132 | | |
| 64,997,741 | | |
| 45,050,405 | |
| | |
| | | |
| | | |
| | |
| COSTS OF REVENUES | |
| | | |
| | | |
| | |
| Graphite anode business | |
| 52,252,338 | | |
| 70,782,649 | | |
| 57,172,626 | |
| Knowledge sharing and enterprise business | |
| 11,278 | | |
| 12,672 | | |
| 281,030 | |
| Total cost of revenues | |
| 52,263,616 | | |
| 70,795,321 | | |
| 57,453,656 | |
| | |
| | | |
| | | |
| | |
| GROSS (LOSS) PROFIT | |
| | | |
| | | |
| | |
| Graphite anode business | |
| (5,910,184 | ) | |
| (6,417,287 | ) | |
| (12,788,622 | ) |
| Knowledge sharing and enterprise business | |
| 62,700 | | |
| 619,707 | | |
| 385,371 | |
| Total gross loss | |
| (5,847,484 | ) | |
| (5,797,580 | ) | |
| (12,403,251 | ) |
| | |
| | | |
| | | |
| | |
| RECONCILIATION OF LOSS (SEGMENT OF GROSS LOSS) | |
| | | |
| | | |
| | |
| UNALLOCATED AMOUNTS | |
| | | |
| | | |
| | |
| OPERATING EXPENSES | |
| | | |
| | | |
| | |
| Selling expenses | |
| 895,099 | | |
| 899,760 | | |
| 742,167 | |
| General and administrative expenses | |
| 7,329,317 | | |
| 7,391,664 | | |
| 13,040,038 | |
| Research and development expenses | |
| 1,955,588 | | |
| 2,507,324 | | |
| 1,193,082 | |
| Impairment of intangible assets | |
| - | | |
| - | | |
| 3,151,467 | |
| Total operating expenses | |
| 10,180,004 | | |
| 10,798,748 | | |
| 18,126,754 | |
| | |
| | | |
| | | |
| | |
| LOSS FROM OPERATIONS | |
| (16,027,488 | ) | |
| (16,596,328 | ) | |
| (30,530,005 | ) |
| | |
| | | |
| | | |
| | |
| OTHER (EXPENSES) INCOME | |
| | | |
| | | |
| | |
| Investment income (losses) | |
| 146,361 | | |
| 198,176 | | |
| (1,170,974 | ) |
| Interest expense, net | |
| (4,566,816 | ) | |
| (2,018,680 | ) | |
| (2,162,109 | ) |
| Share subscription discount expenses | |
| (6,534,936 | ) | |
| - | | |
| | |
| Other income, net | |
| 323,111 | | |
| 441,231 | | |
| 942,138 | |
| Total other expenses, net | |
| (10,632,280 | ) | |
| (1,379,273 | ) | |
| (2,390,945 | ) |
| | |
| | | |
| | | |
| | |
| LOSS BEFORE INCOME TAXES | |
$ | (26,659,768 | ) | |
$ | (17,975,601 | ) | |
$ | (32,920,950 | ) |
|