| Schedule of Reconciliation from Reportable Segment Income |
The following tables present a summary of each
reportable segment’s revenue and income from continuing operations—excluding the e-bicycle sales segment, which is disclosed
as a discontinued operation for the six months ended March 31, 2025, and 2026:
| | |
Six months Ended March 31, 2025 | |
| | |
Battery cells,
packs and
solar cells
segment | | |
Electronic
control
system sales
segment | | |
Others | | |
Total | |
| Revenue from external customers | |
$ | 5,518,183 | | |
$ | 636,356 | | |
$ | 410,828 | | |
$ | 6,565,367 | |
| Segment loss before tax and share of loss of equity method investments | |
| (88,207 | ) | |
| (95,106 | ) | |
| (729,628 | ) | |
| (912,941 | ) |
| Segment gross profit margin | |
| 4.5 | % | |
| 41.7 | % | |
| 38.9 | % | |
| 10.2 | % |
| | |
Six months Ended March 31, 2026 | |
| | |
Battery cells,
packs and
solar cells
segment | | |
Electronic
control
system sales
segment | | |
Others | | |
Total | |
| Revenue from external customers | |
$ | 5,258,770 | | |
$ | 647,498 | | |
$ | 456,808 | | |
$ | 6,363,076 | |
| Segment loss before tax and share of loss of equity method investments | |
| (1,310,287 | ) | |
| (32,194 | ) | |
| (2,326,575 | ) | |
| (3,669,056 | ) |
| Segment gross profit margin | |
| 1.9 | % | |
| 21.8 | % | |
| 31.3 | % | |
| 6.0 | % |
|
| Schedule of Reportable Segment’s Revenue and Income |
The following table presents the reconciliation
from reportable segment income to the consolidated income from continuing operations before income taxes for the six months ended March
31, 2025 and 2026:
| | |
Six months ended
March 31, | |
| | |
2025 | | |
2026 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Net revenues | |
| | |
| |
| Battery cells, packs and solar cells sales | |
$ | 5,518,183 | | |
$ | 5,258,770 | |
| Electronic control system sales | |
| 636,356 | | |
| 647,498 | |
| Others | |
| 410,828 | | |
| 456,808 | |
| Total net revenues | |
| 6,565,367 | | |
| 6,363,076 | |
| | |
| | | |
| | |
| Cost of revenues | |
| | | |
| | |
| Battery cells, packs and solar cells sales | |
| 5,271,930 | | |
| 5,160,692 | |
| Electronic control system sales | |
| 370,868 | | |
| 506,658 | |
| Others | |
| 251,101 | | |
| 313,970 | |
| Total cost of revenues | |
| 5,893,899 | | |
| 5,981,320 | |
| | |
| | | |
| | |
| Gross profit | |
| | | |
| | |
| Battery cells, packs and solar cells sales | |
| 246,253 | | |
| 98,078 | |
| Electronic control system sales | |
| 265,488 | | |
| 140,840 | |
| Others | |
| 159,727 | | |
| 142,838 | |
| Total Gross profit | |
| 671,468 | | |
| 381,756 | |
| | |
| | | |
| | |
| Reconciliation of profit or loss: | |
| | | |
| | |
| Selling and marketing | |
| (117,772 | ) | |
| (97,096 | ) |
| General and administrative | |
| (1,200,042 | ) | |
| (3,266,566 | ) |
| Research and development | |
| (389,572 | ) | |
| (114,186 | ) |
| Total operating expenses | |
| (1,707,386 | ) | |
| (3,477,848 | ) |
| | |
| | | |
| | |
| Loss from operations | |
| (1,035,918 | ) | |
| (3,096,092 | ) |
| | |
| | | |
| | |
| Other income (expense), net | |
| 122,977 | | |
| (572,964 | ) |
| Loss from continuing operations before income tax and share of loss of equity method investments | |
$ | (912,941 | ) | |
$ | (3,669,056 | ) |
| Loss from discontinued operations before income tax and share of loss of equity method investments | |
| (165,626 | ) | |
| - | |
| Loss before income tax and share of loss of equity method investments | |
$ | (1,078,567 | ) | |
$ | (3,669,056 | ) |
|