v3.26.1
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net loss $ (76,124,557) $ (6,109,608) $ (230,392)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:      
Depreciation of property and equipment 130,455 39,482 5,060
Amortization of operating lease right-of-use assets and interest of lease liabilities 840,520 290,277 44,544
Provision for (reversal of) allowance for current expected credit losses 170 4,551 (4,188)
Realized gains from disposal of investments in equity securities (1,131,921)
Unrealized gains from fair value changes of investments in equity securities (76,051)
Losses from fair value changes of contingent consideration payable 29,324,471
(Loss) gain on disposal of property and equipment 14,254 (22,465)
Loss on disposal of a subsidiary 6,688
Share of results of equity method investees 60,015
Gain on termination of lease (15,392)
Share-based compensation 31,426,378 3,111,726
Dividend income (13,088)
Deferred tax expense (benefit) 1,589 (26,850) 737
Changes in operating assets and liabilities:      
Accounts receivable (430,258) 172,491 386,829
Contract assets (609,324) 213,942 (220,120)
Contract costs 20,431 (10,620) (16,447)
Prepayments, deposits and other receivables (3,194,586) (743,413) (7,245)
Inventories (14,576,567)
Accounts payable 467,601 29,135 (120,952)
Contract liabilities 538,827 247,305 236,466
Income taxes payable (67,794) 2,551
Operating lease liabilities, related parties (43,846) (43,902) (43,734)
Operating lease liabilities (580,623) (240,930)
Accrued expenses and other payables (2,789,776) 192,265 30,699
Net cash (used in) provided by operating activities (36,822,384) (2,896,614) 63,808
Cash flows from investing activities:      
Purchases of property and equipment (3,511,920) (258,860) (6,535)
Prepayments for the acquisition of property and equipment and right-of-use assets (913,046)
Deposits paid for investments (443,646)
Decrease (increase) in loans receivable 6,233,423 (179,951)
Acquisition of a subsidiary 4,059,629
Disposal of a subsidiary 480,000
Acquisition of equity method investees (1,161,142)
Investments in equity securities (1,133,536) (478,768)
Proceeds from disposal of investments in equity securities 2,265,457
Proceeds from disposal of property and equipment 22,465
Dividend income received 13,088
Net cash provided by (used in) investing activities 6,331,953 (1,338,760) (6,535)
Cash flows from financing activities:      
Payments of offering costs related to IPO (108,470)
Proceeds from bank and other borrowings 128,370
Repayments of bank and other borrowings (148,910) (85,628) (75,115)
Proceeds from the issuance of ordinary shares under private placements 187,741,800
Proceeds from the exercise of warrants 12,407,121
Proceeds from the exercise of share options 1,375,000
Repayments to related parties (60,741)
Advances from related parties 751 113,070
Net cash provided by (used in) financing activities 201,375,762 155,812 (244,326)
Effect of exchange rate changes on cash (37,587) 67,621 1,190
Net increase (decrease) in cash 170,847,744 (4,011,941) (185,863)
Cash, beginning of period 17,206,993 7,244,941 558,386
Cash, end of period 188,054,737 3,233,000 372,523
Supplemental disclosure information:      
Cash paid for interest 13,607 4,517 6,464
Supplemental non-cash in investing and financing activities:      
Operating lease right-of-use assets, obtained in exchange for operating lease obligations, related parties 170,021 168,500
Operating lease right-of-use assets, obtained in exchange for operating lease obligations $ 2,296,396 $ 976,769