Acquisitions and Disposals (Tables)
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6 Months Ended |
Jun. 30, 2026 |
| Acquisitions and Disposals [Abstract] |
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| 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 | |
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| 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 | |
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| 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 | % |
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| 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 | ) |
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| 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 | |
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| 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 | ) |
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