| Schedule of Consolidated Financial Statements |
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). |
|
| Schedule of Operations and Comprehensive Income |
| |
|
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 |
) |
|
| Schedule of Cash Flow |
| | |
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 | |
|