Note 13 – Net earnings (loss) per share

The Company computes earnings (loss) per share of Class A Ordinary Shares and Class B Ordinary Shares using the two-class method. Except as voting rights as discussed in Note 12, all other rights, including the liquidation and dividend rights, of the holders of Class A Ordinary Shares and Class B Ordinary Shares are identical. As a result, the undistributed loss for each year is allocated based on the contractual participation rights of the Class A Ordinary Shares and Class B Ordinary Shares as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis.

The following tables set forth the computation of basic and diluted loss per share of Class A Ordinary Shares and Class B Ordinary Shares:

 Schedule of computation of basic and diluted loss per share 

For the six months ended June 30, 2026, the Company had dilutive securities from the outstanding convertible notes and warrants that are convertible into 881,144 and 2,913,881 of the Company’s Class A Ordinary Shares, respectively, were not included in the computation of dilutive loss per share because the inclusion of such convertible notes and warrants would be anti-dilutive.

The summary of anti-dilutive instruments excluded from the computation of earnings per share, amount is as follows:

 Summary of anti-dilutive instruments