| Schedule of Movement of Warrants |
The movement of warrants is as follows: | | | As of June 30, 2026 | | | | | Valuation | | | Series A | | | Series B | | | | | US$ | | | Share | | | Valuation | | | Share | | | Valuation | | | Balance at beginning of the year | | $ | 104,433 | | | | 1 | | | | 32 | | | | 8 | | | | 104,401 | | | Issuance(a) | | | — | | | | — | | | | — | | | | — | | | | — | | | Exercise(b) | | | 103,019 | | | | — | | | | — | | | | 7 | | | | 103,019 | | | Fair value changes(c) | | | — | | | | — | | | | — | | | | — | | | | — | | | Balance at end of the year | | $ | 1,414 | | | | 1 | | | | 32 | | | | 1 | | | | 1,382 | | | | | As of June 30, 2025 | | | | | Valuation | | | Series A | | | Series B | | | | | US$ | | | Share | | | Valuation | | | Share | | | Valuation | | | Balance at beginning of the year | $ | — | | | — | | | — | | | — | | | — | | | Issuance(a) | | | 10,559,739 | | | | 63 | | | | 4,122,940 | | | | 63 | | | | 6,436,799 | | | Exerciset(b) | | | 3,693,843 | | | | 62 | | | | 918,183 | | | | 55 | | | | 2,775,660 | | | Fair value changes(c) | | | (6,761,463 | ) | | | — | | | | (3,204,725 | ) | | | — | | | | (3,556,738 | ) | | Balance at end of the year | | $ | 104,433 | | | | 1 | | | | 32 | | | | 8 | | | | 104,401 | | | (a) | On September 20, 2024, the Company issued 63(Pre-consolidations 4,000,000) units to public, and each unit in such offering included one Class A Ordinary Share, one Series A warrant and one Series B warrant. The Company uses the Binominal Tree pricing model to value the warrants, and the fair value allocated to the warrants at the date of issuance was $10,559,739. On December 3, 2025, the Company issued and sold 2,441(Pre-consolidations 6,250,000) Class A ordinary shares accompanying warrants of 4,883(Pre-consolidations 12,500,000) shares to several accredited investors. The investors exercised all of the warrants within the following few days, pursuant to which the Company issued 17,578(Pre-consolidations 45,000,000) Class-A ordinary shares on December 26, 2025. On May 11, 2026, the Company issued and sold 3,516(Pre-consolidations 9,000,000) Class A ordinary shares accompanying Pre-Funded Warrants of 6,641(Pre-consolidations 16,999,998) shares to several accredited investors. The investors exercised all of the warrants within the following few days, pursuant to which the Company issued 68,764 (Pre-consolidations 176,034,979) Class-A ordinary shares in May, 2026. | | (b) | On November 27, 2024, the holder exchanged a total of 62 Series A warrants (3,998,000 before the splits) by signing a stock exchange agreement. The Company uses the Binominal Tree pricing model to value the warrants, and the fair value allocated to the Series A warrants at the date of exchange was $918,183. In October, 2024, the Holders exercised an aggregate of 55(Pre-consolidations 3,497,241 ) Series B warrants through an alternative cashless exercise option. The Company uses the Binominal Tree pricing model to value the warrants, and the fair value allocated to the Series B warrants at the date of exercise was $2,775,660. On September 17, 2025, the Holders exercised an aggregate of 7(Pre-consolidations 31,390 ) Series B warrants through an alternative cashless exercise option, and the Company issued 31(Pre-consolidations 79,842) Class A ordinary shares on the same day. The Company uses the Binominal Tree pricing model to value the warrants, and the fair value allocated to the Series B warrants at the date of exercise was $103,019. | | (c) | The number of remaining unexercised Series A warrants and Series B warrants is 1 (Pre-consolidations 80) and 1 (Pre-consolidations 440) respectively. The fair value of these warrants as of June 30, 2026 and 2025 is $1,414 and $104,433, respectively. |
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