Company Performance - Rezolute, Inc. (NASDAQ:RZLT) experienced a dramatic stock price drop to $1.32, reflecting an 87.93% decrease due to a failed Phase 3 study and subsequent investigation by Holzer & Holzer, LLC [1][6] - Oriental Culture Holding Ltd. (NASDAQ:OCG) saw its stock price decline to $1.57, an 81.95% decrease, potentially influenced by its unaudited financial results for the first half of 2025 [2][6] - C3is Inc. (NASDAQ:CISS) reported a stock price drop to $0.34, a 79.82% decrease, amid broader industry challenges and its financial results for the third quarter [3][6] - GRI Bio, Inc. (NASDAQ:GRI) faced a 54.70% decline in stock price to $0.54, linked to its public offering announcement of $8 million [4][6] - Thunder Power Holdings, Inc. (OTCQB:AIEV) saw its stock price decrease to $0.14, a 49.58% drop, as it reported third-quarter results and plans for asset integration and renewable energy expansion [5] Market Trends - The significant price movements across various sectors, including biotechnology, e-commerce, marine shipping, and electric vehicle manufacturing, indicate heightened volatility in the market [5] - Factors contributing to these declines include company-specific news such as earnings reports and strategic decisions, as well as broader market trends and economic indicators [5]

Core Insights - Thunder Power Holdings, Inc. is accelerating the integration of its Taiwan assets and expanding its renewable energy portfolio, aiming for a tenfold increase in solar capacity to support its operational objectives for the third quarter of 2025 and to initiate steps toward relisting on NASDAQ [1][5]. Share Exchange and Integration - The company is finalizing a share exchange agreement with Electric Power Technology Limited, with closing expected by the end of 2025, pending regulatory and shareholder approval [2]. Solar Power and Clean Energy Expansion - Thunder Power is acquiring 100% equity in 16 solar power plants in southern Taiwan, increasing its managed capacity from 0.5 MW to 4.5 MW, which is projected to generate over NT$20 million in annual recurring revenue [3]. - The company is also evaluating acquisitions of engineering, procurement, and construction (EPC) solar providers and reviewing seven solar power projects ranging from 300 kW to 1.5 MW to enhance vertical integration and margins in renewable energy [4]. Ongoing Strategic Initiatives - The company is focused on maximizing project value through market data analysis and government incentives, aiming for strong returns aligned with Taiwan's renewable energy targets. Management is also seeking new financing options for energy storage and green technologies [5]. - The CEO emphasized the commitment to closing the merger with TW Company and expanding the green energy portfolio, with plans for further solar asset acquisitions targeting up to 50 MW in total by 2026 [5]. Financial Highlights - For the third quarter of 2025, Thunder Power reported no revenues as it continues pre-commercial development of electric vehicles. General and administrative expenses were $0.4 million for the quarter, reflecting a year-over-year decline [6][7]. - The net loss for the quarter was $0.4 million, with a total net loss of $1.7 million for the nine-month period, resulting in a loss per share of $0.01 for the quarter and $0.03 for the nine months [6]. Cash Position and Concerns - As of September 30, 2025, the company had cash on hand of $16.441 million, but faces material uncertainty regarding its ability to continue as a going concern due to significant operating losses and constrained cash inflow [10].

Revenue Generation - The company has not generated any revenue from EV sales and expects to generate revenue from the sale of its EV models, technology licensing, and R&D services [156]. - The company expects to continue incurring substantial operating losses due to the capital-intensive nature of its business and the lack of commercially available vehicles [151]. - The company has faced significant operating losses since inception and continues to struggle with generating sufficient revenue to cover operational costs [174]. - The company has not met the sales/revenue condition for the year of 2024, which may impact the release of Earnout Shares [184]. Financial Performance - For the three months ended September 30, 2025, the company reported a net loss of approximately $0.4 million, a decrease from a net loss of $0.9 million for the same period in 2024 [166]. - The company incurred a net loss of approximately $1.7 million and $2.5 million for the nine months ended September 30, 2025 and 2024, respectively [169]. - The company incurred general and administrative expenses of approximately $428,053 for the three months ended September 30, 2025, compared to $912,314 in 2024, reflecting a significant reduction in professional and consulting expenses [165]. - General and administrative expenses for the nine months ended September 30, 2025, were approximately $1.7 million, down from $2.5 million in 2024, primarily due to a lack of share-based compensation expenses compared to the previous year [168]. Cash Flow and Liquidity - As of September 30, 2025, the company's cash balance was $16,441, down from $33,636 at the end of the same period in 2024, indicating a net decrease in cash of $36,175 [175]. - Net cash used in operating activities for the nine months ended September 30, 2025 was approximately $1.4 million, primarily due to a net loss of approximately $1.7 million [176]. - The company reported cash provided by financing activities of approximately $1.3 million for the nine months ended September 30, 2025, primarily from borrowings from the controlling shareholder [179]. - The company has recorded a prepaid forward contract as a current asset, which may affect its liquidity and ability to meet short-term obligations [174]. Business Development - The company has four EV models in phased development: Coupe, Sedan, City Car, and SUV, with no new models expected to be introduced until at least 2030 [152]. - The business combination with Feutune Light Acquisition Corporation was completed on June 21, 2024, resulting in the company being renamed Thunder Power Holdings, Inc. [144]. - The company plans to utilize third-party retail distribution and full-service networks to enhance market execution, which is critical for operational success [154]. - The company has entered into a Share Exchange Agreement with shareholders of Electric Power Technology Limited, with a share exchange ratio of 119 shares of the company's common stock for every 100 ordinary shares of TW Company [148]. - The company’s common stock began trading on the Nasdaq under the symbol "AIEV" on June 24, 2024, following the business combination [146]. Future Outlook - The company is exploring new financing options, including potential debt extensions or new equity capital, to address uncertainties regarding its ability to continue as a going concern [172]. - The company’s shares were suspended from trading on Nasdaq on April 21, 2025, impacting its ability to access capital markets [174]. - The company incurred minimal research and development expenses for the three and nine months ended September 30, 2025 and 2024, recorded under general and administrative expenses [186].

Valuation & Earnings - Thunder Power has no reported gross revenue or net income, while its competitors have a gross revenue of $27.20 billion and a net income of $1.01 billion, indicating that Thunder Power is currently less financially robust than its rivals [1] - Thunder Power's price-to-earnings ratio is -4.00, which is lower than the industry average of 27.42, suggesting that it is more affordable compared to its competitors [1] Volatility and Risk - Thunder Power has a beta of 0.55, indicating that its stock price is 45% less volatile than the S&P 500, while its competitors have a beta of 1.39, showing that their stock prices are 39% more volatile than the S&P 500 [2] Institutional & Insider Ownership - 65.0% of Thunder Power shares are owned by institutional investors, significantly higher than the industry average of 45.4% for "Motor vehicles & car bodies" companies [3] - Only 5.1% of Thunder Power shares are owned by insiders, compared to 11.2% for the industry average, indicating lower insider ownership [3][4] Profitability - Thunder Power has not reported net margins, return on equity, or return on assets, while its competitors have a net margin of -4,806.85%, return on equity of -57.89%, and return on assets of -16.78%, reflecting poor profitability metrics across the industry [6]

Market Overview - The market has seen significant declines among several companies, including Vantage Corp, ZIVO Bioscience, CCSC Technology, Thunder Power Holdings, and GT Biopharma, influenced by company-specific developments and broader market conditions [1]. Vantage Corp - Vantage Corp's stock price plummeted by 81.09% to $1.21, with a trading volume of 15,522,991, far exceeding its average [2]. - The company is scheduled to present at the 2025 Gateway Conference, which may provide an opportunity to showcase its services and potentially influence future stock performance [2]. CCSC Technology International Holdings - CCSC Technology experienced a 41.45% decrease in its stock price to $1.3701, with a trading volume spike to 11,391,387 [3]. - The company announced a memorandum of understanding with Konstruktor Group to develop a new supply chain management center in Serbia, aiming to enhance its logistics and manufacturing infrastructure in Europe [3]. Thunder Power Holdings - Thunder Power Holdings saw a 35.07% fall in its stock price to $0.19, with minimal trading activity [4]. - The company is focused on expanding its operations in Taiwan and is making strides in the clean energy market, which may impact its future stock performance [4]. GT Biopharma - GT Biopharma's stock decreased by 33.23% to $0.72, with a trading volume of 5,837,946 [5]. - The company is advancing its TriKE® platform for cancer treatment and has reported its financial results for the second quarter of 2025, which may influence investor sentiment and future stock movements [5]. Conclusion - These developments highlight the dynamic nature of the market, with company-specific news and strategic initiatives playing a crucial role in stock performance [6]. Investors are closely monitoring these companies for any updates that could impact their future trajectories [6].

Progress on Taiwan Share Exchange and Strategic Partnerships WILMINGTON, Del. , Sept. 22, 2025 /PRNewswire/ -- Thunder Power Holdings, Inc. (OTCQB: AIEV)Â ("Thunder Power" or the "Company"), a technology innovator and developer of premium passenger Electric Vehicles (EVs), today announced several important operational updates and strategic developments to expand its position in clean energy markets and support its long-term growth objectives. ...

Group 1 - The five Chinese concept stocks with the largest closing declines are Sentage down 29.28%, Kaixin Auto down 25.35%, Zhongyang Financial Group down 21.62%, AieV Auto down 21.20%, and Chuangzhi Global Technology down 18.20% [1][1][1] - Sentage's latest price is 2.850 with a decline of 1.180 and a trading volume of 1.7891 million [1][1] - Kaixin Auto's latest price is 0.799 with a decline of 0.271 and a trading volume of 743,400 [1][1] - Zhongyang Financial Group's latest price is 1.450 with a decline of 0.400 and a trading volume of 2.6265 million [1][1] - AieV Auto's latest price is 0.0788 with a decline of 0.0212 and a trading volume of 3,981.87 [1][1] - Chuangzhi Global Technology's latest price is 0.6945 with a decline of 0.1545 and a trading volume of 1.4339 million [1][1]

Group 1 - The top five gaining Chinese concept stocks at the close were: Senmiao Technology up 61.25%, Roma Green Finance up 38.83%, Four Seasons Education up 29.18%, Nature Forestry up 23.3%, and Changwei Automotive up 20.75% [1] - Senmiao Technology (AIHS) closed at 3.870 with a gain of 61.25%, increasing by 1.470, and had a trading volume of 1.025 billion [1] - Roma Green Finance (ROMA) closed at 2.485 with a gain of 38.83%, increasing by 0.695, and had a trading volume of 307.6 thousand [1] - Four Seasons Education (FEDU) closed at 14.210 with a gain of 29.18%, increasing by 3.210, and had a trading volume of 427.2 thousand [1] - Nature Forestry (NWGL) closed at 1.270 with a gain of 23.30%, increasing by 0.240, and had a trading volume of 192.34 thousand [1] - Changwei Automotive (AIEV) closed at 0.1100 with a gain of 20.75%, increasing by 0.0189, and had a trading volume of 8.188 thousand [1]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41424 Thunder Power Holdings, Inc. (Exact name of registrant as specified in its charter) | Delaware | 87-4620515 | | --- | --- | | (State ...

Core Viewpoint - Thunder Power Holdings, Inc. has received shareholder approval for a Share Exchange Agreement to acquire approximately 30.8% of Electric Power Technology Limited (TW Company), facilitating its expansion into Taiwan's renewable energy sector and enhancing its clean energy capabilities [1][2][3] Group 1: Acquisition and Strategic Expansion - The acquisition of TW Company is a significant step in Thunder Power's growth strategy, allowing the company to diversify its revenue streams and establish a scalable model for sustainable mobility [2][3] - This transaction provides Thunder Power with access to solar generation capacity and manufacturing resources, strengthening its position in the renewable energy sector [3][6] Group 2: Future Growth Initiatives - Thunder Power's strategy includes expanding its clean energy platform through the TW Company investment, aligning with Taiwan's national renewable energy targets [6] - The company aims to leverage relationships and manufacturing resources in Taiwan to advance its proprietary EV technologies, focusing on scaling in Asian and European markets [6][7] Group 3: Portfolio Diversification and Technology Development - The company will pursue opportunities in renewable energy and storage to complement its core EV business, broadening its revenue base and evaluating additional international transactions [7] - Thunder Power plans to utilize Taiwan's manufacturing resources to advance the development and launch of its proprietary EVs, integrating its EV platforms with renewable energy and storage assets to meet evolving global mobility and energy needs [7][8]