v3.26.3
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 5,939,950 $ 443,591
Short-term investments 2,940,490 7,165,232
Accounts receivable 220,295 889,533
Prepaid expenses and other current assets 8,874,078 2,066,487
Current assets held for sale associated with discontinued operation of ELPW 1,240,751
Total current assets 18,112,904 11,877,093
Equity method investment 4,572,796  
Property, plant and equipment, net 100,255 117,453
Right-of-use assets, net 59,074 71,751
Non-current assets held for sale associated with discontinued operation of ELPW 15,674,938
Total non-current assets 4,732,125 15,864,142
Total assets 22,845,029 27,741,235
Current liabilities:    
Accounts payable 46,234 875,063
Amounts due to related parties 79,773
Contract liabilities 169,470 2,038,433
Accrued expenses and other current liabilities 842,508 1,812,778
Provision for product warranty, current 182,006 83,784
Lease liabilities, current 33,702 32,074
Current liabilities held for sale associated with discontinued operation of ELPW 11,436,442
Total current liabilities 7,890,726 25,887,182
Provision for product warranty, non-current 15,120 638
Lease liabilities, non-current 20,193 41,644
Non-current liabilities held for sale associated with discontinued operation of ELPW 24,555,631
Total non-current liabilities 35,313 24,597,913
Total liabilities 7,926,039 50,485,095
Treasury shares (80) (80)
Additional paid-in capital 67,725,796 51,070,354
Statutory Reserve 708,470
Accumulated deficit (53,271,564) (74,474,141)
Accumulated other comprehensive (loss) income 379,980 (48,964)
Total shareholders’ equity (deficit) 14,918,990 (22,743,860)
Total liabilities and shareholders’ equity (deficit) 22,845,029 27,741,235
Common Class A [Member]    
Current liabilities:    
Common stock value 83,392 443
Common Class B [Member]    
Current liabilities:    
Common stock value [1],[2] 1,466 58
Related Party [Member]    
Current assets:    
Amounts due from related parties 138,091 71,499
Current liabilities:    
Short-term loans 4,679,224 2,030,366
Nonrelated Party [Member]    
Current liabilities:    
Short-term loans $ 1,937,582 $ 7,498,469
[1] Giving retroactive effect to the 1-for-45 reverse share split effected on August 10, 2026.
[2] Including 295 shares issued but not outstanding, consisting of 156 forfeited Earnout Shares pending cancellation and 139 shares held as treasury stock reserved for future issuance, as discussed in Note 17.