| Schedule of Consolidated Financial Statements |
The
following significant amounts of Zhongchao Shanghai and its subsidiaries are included in the accompanying consolidated financial statements
as of December 31, 2025 and 2024, and for the years ended December 31, 2025, 2024 and 2023:
| | |
December 31,
2025 | | |
December 31,
2024 | |
| ASSETS | |
| | |
| |
| Cash and cash equivalents | |
$ | 5,921,884 | | |
$ | 4,354,654 | |
| Accounts receivable | |
| 2,782,693 | | |
| 4,682,320 | |
| Inventories | |
| - | | |
| 586,221 | |
| Other current assets | |
| 170,962 | | |
| 272,693 | |
| Investment in non-marketable securities | |
| 1,137,307 | | |
| 1,089,960 | |
| Property and equipment, net | |
| 4,141,645 | | |
| 4,206,154 | |
| Right of use assets | |
| 25,053 | | |
| 89,020 | |
| Deferred tax assets | |
| 44,194 | | |
| 119,425 | |
| Other non-current assets | |
| 7,614 | | |
| 12,177 | |
| Total
Assets | |
$ | 14,231,352 | | |
$ | 15,412,624 | |
| | |
| | | |
| | |
| LIABILITIES | |
| | | |
| | |
| Advances from customers | |
$ | 150,009 | | |
$ | 203,787 | |
| Operating lease liabilities, current and non-current | |
| 26,083 | | |
| 57,517 | |
| Due to Zhongchao Inc.* | |
| (284,799 | ) | |
| 483,800 | |
| Other current liabilities | |
| 1,334,089 | | |
| 1,276,732 | |
| Deferred tax liabilities | |
| 22,260 | | |
| 179,638 | |
| Total
Liabilities | |
$ | 1,247,642 | | |
$ | 2,201,474 | |
| | |
For
the years ended December 31, | |
| | |
2025 | | |
2024 | | |
2023 | |
| Revenues | |
$ | 11,374,996 | | |
$ | 15,864,773 | | |
$ | 19,433,945 | |
| (Loss) income from operations | |
$ | (835,595 | ) | |
$ | 3,245,712 | | |
$ | (11,846,266 | ) |
| Net (loss) income | |
$ | (784,109 | ) | |
$ | 2,902,555 | | |
$ | (10,780,772 | ) |
| * | The balances due from/to Zhongchao Inc. are eliminated on consolidation. |
|