|
FY2025
12 months to Dec 31, 2025
|
FY2024
12 months to Dec 31, 2024
|
|
|---|---|---|
| Cash flows from operating activities: | ||
| Net income | ||
| Depreciation of property and equipment | ||
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Depreciation of property and equipment | ||
| Amortization of right of use assets | ||
| Loss from early termination of lease agreement | ||
| Amortization of long-term prepaid expenses | ||
| Share-based compensation to employees | ||
| Share-based compensation to nonemployees | ||
| Changes in fair value of contingent consideration payable | ||
| Inventory write down | ||
| Expense of offering cost allocated to contingent consideration payable | ||
| Deferred tax benefits | ||
| Changes in operating assets and liabilities: | ||
| Accounts receivable | ||
| Accounts receivable – related parties | ||
| Prepayments | ||
| Prepayments – a related party | ||
| Inventories | ||
| Other current assets | ||
| Other non-current assets | ||
| Accounts payable | ||
| Accounts payable – a related party | ||
| Contract liabilities | ||
| Contract liabilities – a related party | ||
| Contract liabilities – related parties | ||
| Income tax payable | ||
| Due to related parties | ||
| Other payable and accrued expenses | ||
| Lease liabilities | ||
| Net cash provided by (used in) operating activities | ||
| Cash flows from investing activities: | ||
| Purchase of property and equipment | ||
| Purchase of property and equipment from a related party | ||
| Payment for acquisition of non-controlling interests | ||
| Net cash used in investing activities | ||
| Cash flows from financing activities: | ||
| Capital injection from shareholders | ||
| Proceeds from private placement | ||
| Proceeds from bank borrowings | ||
| Repayment of bank borrowings | ||
| Proceeds from borrowings from a related party | ||
| Repayment of borrowings to a related party | ||
| Deemed distribution through purchase of trademark | ||
| Payments of offering costs | ||
| Net cash provided by (used in) financing activities | ||
| Effect of exchange rate changes on cash | ||
| Net (decrease) increase in cash | ||
| Cash and restricted cash at beginning of year | ||
| Cash and restricted cash at end of year | ||
| Supplemental cash flow information | ||
| Cash paid for interest expense | ||
| Cash paid for income tax | ||
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | ||
| Payables related to purchase of property and equipment | ||
| Noncash investing and financing activities | ||
| Operating lease right-of-use assets obtained in exchange for operating lease liabilities | ||
| Issuance of ordinary shares to settle of contingent consideration payable | ||
| Payables related to purchase of property and equipment | ||
| Transfer of equity interest of a subsidiary in exchange for asset acquisition in Solar Texas | ||
| Cash | ||
| Restricted cash | ||
| Restricted cash, non-current | ||
| Reconciliation of cash and restricted cash to the consolidated balance sheets | ||
| Cash | ||
| Restricted cash | ||
| Restricted cash, non-current |
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