v3.26.3
Acquisitions and Disposals (Tables)
6 Months Ended
Jun. 30, 2026
Acquisitions and Disposals [Abstract]  
Schedule of Fair Value of Purchase Price and its Final Allocation to the Assets Acquired and Liabilities

As of the acquisition date of December 1, 2025, the following is a summary of the fair value of the purchase price and the final allocation of the purchase price to the assets acquired and liabilities assumed:

 

    Fair value
on acquisition
 
    USD  
Assets      
Cash and cash equivalents and restricted cash     10,447  
Short term investments     5,843  
Intangible assets     55,000  
Total assets     71,290  
         
Liabilities        
Accrued expenses and other current liabilities     17,130  
Total liabilities     17,130  
Total identifiable net assets at fair value     54,160  
         
Consideration transferred:        
-Cash     50,000  
Schedule of Acquisition of Subsidiary on Cash Flows

Effect of the acquisition of subsidiary on cash flows:

 

    USD  
Total cash consideration unpaid as of December 31, 2025     -  
Cash and cash equivalents in subsidiary acquired     10,447  
Net cash inflow on acquisition     10,447  
Schedule of Subsidiaries and Consolidated VIEs

As of the disposal date of December 23, 2025, Nisun BVI’s subsidiaries and consolidated VIEs are as follows:

 

    Date of
incorporation/
acquisition
  Place of incorporation   Percentage of direct or indirect economic interest  
Subsidiaries              
NiSun International Enterprise Management Group (Hong Kong) Co., Limited (“NiSun HK”)   July 12, 2019   Hong Kong     100 %
Nisun (Shandong) Industrial Development Co., Ltd (“Nisun Shandong” or “WFOE”)   December 15, 2020   PRC     100 %
NingChen (Shanghai) Enterprise Management Co., Ltd.(“NingChen”)   July 12, 2019   PRC     100 %
Shandong Taiding International Investment Co., Ltd. (“Taiding”)   November 12, 2019   PRC     80 %
Shanghai Naqing Enterprise Management Co., Ltd (“Naqing” or “WFOE”)   April 10, 2019   PRC     100 %
NiSun Ocean (Qingdao) Supply Chain Investment Co., Ltd.(“Nisun Ocean”)   July 30, 2021   PRC     100 %
Zhumadian NiSun Supply Chain Management Co., Ltd.(“Nisun ZMD”)   December 29, 2021   PRC     100 %
Nisun (Beijing) Supply Chain Management Co., Ltd.(“Nisun Beijing”)   November 07, 2022   PRC     100 %
Qingdao Sailang International Trade Co., Ltd.(“Sailang”)   July 31, 2022   PRC     100 %
Rizhao Sailang Mining Co., Ltd.(“RZ Sailang”)   July 31, 2022   PRC     100 %
Gansu Zhonghexi Trading Co., Ltd.(“Gansu Zhonghexi”)   July 31, 2022   PRC     65 %
Shanghai Keqiya International Trade Co., Ltd.(“Keqiya”)   June 07, 2023   PRC     100 %
Fanningke Digital Technology (Shanghai) Co., Ltd.(“Fanningke”)   July 20, 2023   PRC     100 %
Fanshengke Supply Chain (Shanghai) Co., Ltd.(“Fanshengke”)   July 28, 2023   PRC     100 %
Fintech (Henan) Trading Co., Ltd.(“Henan Trading”)   April 03, 2023   PRC     100 %
Fanshengke Supply Chain (Fujian) Co., Ltd. (“Fanshengke Fujian”)   March 19, 2024   PRC     100 %
Khorgos Fanning Network Technology Co., Ltd. (“Khorgos Fanning”)   July 12, 2024   PRC     100 %
Shanghai Ningzhuan Trading Partnership Enterprise (“Ningzhuan”)   December 4, 2024   PRC     95 %
Hebei Ruizu Trading Co., Ltd. (“Hebei Ruizu”)   December 11, 2024   PRC     99 %
                 
VIEs                
Fintech (Shanghai) Digital Technology Co., Ltd. (“Fintech Shanghai”)   July 12, 2019   PRC     100 %
Beijing Hengtai Puhui Information Services Co., Ltd (“Hengpu”)   December 31, 2019   PRC     100 %
Shanghai Luyao Financial Consulting Co., Ltd. (“Luyao Shanghai”)   June 04, 2015   PRC     100 %
    Date of
incorporation/
acquisition
  Place of incorporation   Percentage of direct or indirect economic interest  
Subsidiaries of the VIEs                
Khorgos Fintech Network Technology Co., Ltd. (“Khorgos”)   July 12, 2019   PRC     100 %
Jilin Province Lingang Supply Chain Management Co., Ltd (“Lingang”)   November 27, 2019   PRC     100 %
Fintech Supply Chain Management (Shenzhen) Co., Ltd.(“Fintech Shenzhen”)   November 21,2022   PRC     100 %
Liaogang NiSun (Yingkou) Supply Chain Management Co., Ltd.(“Liaogang Yingkou”)   September 03, 2018   PRC     51 %
Hangzhou Fengtai Supply Chain Management Co., Ltd. (“Fengtai”)   December 31, 2019   PRC     100 %
Nanjing Nisun Gold Co., Ltd. (“Nisun Gold”)   December 10, 2020   PRC     100 %
Fintech (Shandong) Supply Chain Management Co., Ltd. (“Fintech Shandong”)   November 04, 2020   PRC     100 %
Fanlunke Supply Chain Management (Shanghai) Co., Ltd. (“Fanlunke Shanghai”)   December 29, 2020   PRC     100 %
Fintech Supply Chain Management (Ningbo) Co., Ltd. (“Fintech Ningbo”)   January 25, 2021   PRC     100 %
Henan Fintech Digital Technology Co., Ltd. (“Henan Fintech”)   June 27, 2024   PRC     100 %
Fanlun Ke Trading (Nanjing) Co., Ltd. (“Fanlunke Nanjing”)   December 12, 2024   PRC     100 %
Fanlunke Trading (Chengdu) Co., Ltd. (“Fanlunke Chengdu”)   January 17, 2025   PRC     100 %
Fanlunke New Retail (Chengdu) Co., Ltd. (“Fanlunke Retail”)   March 11, 2025   PRC     100 %
Schedule of Discontinued Operations Consolidated Balance Sheets

On December 23, 2025, the Company calculated a loss resulting from such disposal as follows:

    As of
December 23,
2025
 
    USD  
Assets      
Cash and cash equivalents and restricted cash     15,986,591  
Short term investments     7,706,050  
Accounts receivable     35,246,811  
Advance to suppliers, net     179,209,454  
Inventories     7,905,656  
Receivables from supply chain solutions     26,628,729  
Prepaid expenses and other current assets     20,432,683  
Property and equipment, net     298,677  
Intangible assets, net     190,475  
Equity investments     458,201  
Goodwill     17,709,008  
Deferred tax assets, net     419,940  
Total assets     312,192,275  
         
Liabilities        
Short-term loans     6,189,528  
Accounts payable     63,489,162  
Accrued expenses and other current liabilities     22,726,831  
Payables to supply chain solutions     2,116,672  
Liabilities of financial guarantee     22,563  
Advances from customers     17,500,339  
Taxes payable     1,376,565  
Due to related parties - current     297,075  
Total liabilities     113,718,735  
Total net assets of the Disposal Group     198,473,540  
Less: Non-controlling interest of the Disposal Group     4,369,736  
Net assets of the Disposal Group attributable to the Company’s shareholders     194,103,804  
Add:Writes-off of net amounts due from disposed subsidiaries     21,653,052  
Less:disposal proceeds     (50,000 )
Loss on disposal before reclassification of cumulative foreign currency translation differences of the Disposal Group to profit or loss     (215,706,856 )
Reclassification of cumulative foreign currency translation losses of the Disposal Group to profit or loss     (9,621,695 )
Loss on disposal recognized in the Consolidated Statements of Operations and Comprehensive (Loss) Income     (225,328,551 )
Schedule of Condensed Cash Flows of Disposal Group

The condensed cash flows of Disposal Group were as follows for the six months ended June 30, 2026 and 2025:

 

    Six months ended
June 30,
 
    2026     2025  
    USD     USD  
Net cash used in operating activities     -       (31,327,402 )
Net cash provide by investing activities     -       1,796,732  
Net cash provide by financing activities     -       615,022  
Schedule of Discontinued Operations in the Consolidated Statements of Operations and Comprehensive Loss

Reconciliation of the major classes of losses from discontinued operations in the consolidated statements of operations and comprehensive loss for the six months ended June 30, 2026 and 2025 is as follows:

 

    Six months ended
June 30,
 
    2026     2025  
    USD     USD  
Revenues     -       91,062,980  
Cost of revenue     -       (80,905,016 )
Gross profit     -       10,157,964  
Operating costs:                
Selling expenses     -       (943,354 )
General and administrative expenses     -       (4,418,805 )
Research and development expenses     -       (499,557 )
Bad debt expense     -       (55,275,084 )
Goodwill Impairment Loss     -       (17,373,793 )
Interest and investment expenses     -       7,736  
Other expenses, net     -       66,875  
Net gain on sale of discontinued operations, net of applicable income tax     -       -  
Loss (income) before income taxes from discontinued operations     -       (68,278,018 )
Income tax expenses     -       (1,122,607 )
Net income attributable to non-controlling interests     -       (3,277 )
Net loss from discontinued operations     -       (69,403,902 )