Financial Performance - Total revenues for the six months ended June 30, 2025, were $27,967,081, representing an increase from $22,283,171 in the same period of 2024, a growth of approximately 25%[5] - Gross profit for the six months ended June 30, 2025, was $3,698,737, compared to $17,389 in the same period of 2024, indicating a significant improvement in profitability[5] - The net loss attributable to Sunrise New Energy Co., Ltd. ordinary shareholders for the six months ended June 30, 2025, was $1,257,060, a reduction from a net loss of $4,451,462 in the same period of 2024[5] - The company reported a total comprehensive loss of $2,366,694 for the six months ended June 30, 2025, compared to a loss of $6,989,680 in the same period of 2024, indicating an improvement in overall financial performance[5] - For the six months ended June 30, 2025, the net loss was $2,840,146, compared to a net loss of $6,040,235 for the same period in 2024, indicating a significant improvement[10] - The company reported a significant increase in accounts receivable, totaling $6,227,109 for the six months ended June 30, 2025, compared to a decrease of $3,981,127 for the same period in 2024[10] - The company incurred a net loss of $2,840,146 for the six months ended June 30, 2025, with net cash used in operating activities amounting to $19,876,814[126] - The company's loss before income taxes for the six months ended June 30, 2025, was $2,840,007, a decrease from $6,020,972 in the same period of 2024[189] Assets and Liabilities - Total current assets increased to $90,717,535 as of June 30, 2025, up from $63,010,873 as of December 31, 2024, reflecting a growth of approximately 44%[2] - Total liabilities rose to $150,122,085 as of June 30, 2025, compared to $115,728,359 as of December 31, 2024, an increase of about 30%[3] - The company’s total assets reached $175,395,240 as of June 30, 2025, up from $143,023,032 as of December 31, 2024, reflecting an increase of approximately 23%[3] - The company had cash and cash equivalents and restricted cash of $27,408,386 as of June 30, 2025, indicating liquidity challenges[130] - As of June 30, 2025, the working capital deficit was $18,698,359, raising concerns about the company's ability to continue as a going concern[126] - The company’s total liabilities remained unchanged at $6,627,374 as of June 30, 2025, compared to the previous reporting period[40] - The total outstanding balance of the long-term facility collateralized by plant and equipment was approximately $6,689,053 as of June 30, 2025[167] Cash Flow and Financing - Cash and cash equivalents significantly increased to $19,921,398 as of June 30, 2025, from $1,264,463 as of December 31, 2024, marking a growth of over 1,475%[2] - Cash used in operating activities for the six months ended June 30, 2025, was $19,876,814, compared to $6,949,921 for the same period in 2024, reflecting increased operational expenditures[10] - The total cash provided by financing activities for the six months ended June 30, 2025, was $46,864,692, compared to $18,067,381 for the same period in 2024, highlighting increased financing efforts[10] - The company received the first installment of subscription proceeds of RMB50,000,000 (approximately $6,979,731) from Xinyang Partnership as part of a capital increase agreement[180] Investments and Expenses - Research and development expenses for the six months ended June 30, 2025, were $754,331, compared to $847,852 in the same period of 2024, showing a decrease in R&D spending[5] - The company made substantial investments in plant, property, and equipment, totaling $4,998,562 for the six months ended June 30, 2025, compared to $983,157 for the same period in 2024[10] - The company reported a depreciation and amortization expense of $2,600,280 for the six months ended June 30, 2025, compared to $2,381,550 for the same period in 2024, showing an increase in asset utilization[10] - The company incurred share-based compensation of $245,176 for the six months ended June 30, 2025, down from $607,742 for the same period in 2024, indicating a reduction in equity-based expenses[10] Related Party Transactions and Agreements - EPOW became the ultimate parent entity of its subsidiaries and the primary beneficiary of the variable interest entity (VIE), SDH, following a reorganization[19] - GIOP BJ has the exclusive right to provide SDH with technical support and consulting services, with service fees based on SDH's earnings before corporate income tax[23] - The Exclusive Option Agreement allows GIOP BJ to purchase equity interests in SDH at a price of RMB 10 (approximately US$1.37) or the minimum amount permitted under PRC law[29] - The Equity Pledge Agreement secures GIOP BJ's rights to collect dividends and dispose of pledged equity interests in case of a breach by SDH or its shareholders[26] - The VIE Agreements were established in June 2019, obligating GIOP BJ to absorb a majority of the risk of loss from SDH's business activities[20] - The CEO of GIOP BJ, Mr. Haiping Hu, manages SDH under the terms of the Exclusive Service Agreement, which allows for related party transactions[25] Taxation and Compliance - The effective tax rate for the six months ended June 30, 2025, was 0.00%, compared to 0.32% for the same period in 2024[189] - The total deferred tax assets, net, as of June 30, 2025, amounted to $316,670, down from $778,778 as of December 31, 2024[190] - The company has established a valuation allowance of $9,722,654 as of June 30, 2025, reflecting the uncertainty of realizing deferred tax assets[190] - As of June 30, 2025, the company did not comply with financial covenants for loans totaling $67,544,444, but the lenders had not declared defaults[128] Inventory and Receivables - Accounts receivable decreased from $36,901,720 as of December 31, 2024, to $31,294,902 as of June 30, 2025, representing a decline of approximately 15.2%[134] - Net accounts receivable also fell from $28,992,149 to $23,305,855, a decrease of about 19.7%[134] - Total inventories decreased significantly from $30,335,511 as of December 31, 2024, to $17,660,390 as of June 30, 2025, reflecting a reduction of approximately 41.8%[135] - The impairment of inventories was nil for the six months ended June 30, 2025, compared to $2,845,727 for the same period in 2024[135] Acquisitions and Impairments - The Company acquired 100% of Sunrise Tech's assets for a gross consideration of RMB 40,000,000, with payments structured over several years[159] - The Company recognized a full impairment of $282,450 for its investment in Yinzhirun in the second half of 2023 due to concerns over its ability to continue as a going concern[148] - A full impairment of $236,053 was provided for the investment in Cheyi in the second half of 2022, reflecting significant concerns about the investee's viability[150] - The Company provided a full impairment of $74,337 for its investment in Outu in the second half of 2022, citing going-concern issues[152] - A full impairment of $74,337 was also recognized for the investment in Qianshier in the second half of 2022 due to enforcement proceedings related to a rental dispute[154] - The investment in Jiamenkou was fully impaired by $74,337 in the second half of 2022, as the investee was involved in legal proceedings[156] - The Company recognized a full impairment of $38,131 for its investment in Funeng in the second half of 2023, attributed to insufficient cash to support operations[157]

Core Viewpoint - Sunrise New Energy (EPOW) has signed a significant anode material supply agreement with Xiaolu Lithium, which is expected to enhance revenue growth for the company starting in 2026 [1] Group 1: Agreement Details - Sunrise is set to supply approximately 3,000 tons of anode materials to Xiaolu Lithium [1] - The estimated total contract value of the agreement is approximately $11 million [1] Group 2: Product Applications - The anode materials are designed for high-rate discharge applications, which include use in unmanned aerial vehicles and energy storage [1] - The products are expected to deliver strong power performance for various high-performance battery use cases [1]

Core Viewpoint - Huayang New Energy (EPOW) shows a significant increase in revenue and a notable growth in net profit despite reporting a loss, indicating potential for future profitability in the electric vehicle and lithium-ion battery materials sector [1] Financial Performance - As of December 31, 2024, Huayang New Energy reported total revenue of $64.9977 million, representing a year-on-year growth of 44.28% [1] - The company recorded a net profit attributable to shareholders of -$11.7764 million, which is an improvement with a year-on-year increase of 51.4% [1] Company Overview - Huayang New Energy is headquartered in Zibo, Shandong Province, China, and is engaged in the research, manufacturing, and sales of electric vehicle and lithium-ion battery graphite anode materials through joint ventures [1] - The company is constructing a manufacturing plant in Guizhou Province, covering an area of 138,000 square meters, which utilizes low-cost electricity from renewable energy sources to significantly reduce costs and minimize environmental impact [1] - The founder and CEO, Hu Haiping, has been a key pioneer in China's graphite anode industry since 1999, and the core team consists of industry veterans with decades of experience and multiple successful entrepreneurial ventures in lithium battery anode materials [1] Strategic Initiatives - In addition to its core business, Huayang New Energy is exploring strategic alternatives for its traditional internet knowledge-sharing platform business [1]

Core Insights - Sunrise New Energy Co., Ltd. has signed an anode material supply agreement with Xiaolu Lithium, with an expected supply of approximately 3,000 tons of anode materials starting in 2026, valued at around USD 11 million [1] - The anode materials are intended for high-rate discharge applications, particularly for unmanned aerial vehicles (UAVs) and energy storage systems, indicating a new revenue growth opportunity for the company [1][3] - Xiaolu Lithium specializes in sodium-ion and lithium-ion batteries, with products used in various applications including power tools and smart home devices, and has a global export reach to over 30 countries [2] Company Overview - Sunrise New Energy is headquartered in Zibo, Shandong Province, China, and focuses on manufacturing graphite anode material for lithium-ion batteries [5] - The company operates a manufacturing facility in Guizhou Province with a production capacity of 50,000 tons, utilizing renewable energy sources to minimize environmental impact [5] - The management team comprises industry experts with extensive experience in the graphite anode sector, enhancing the company's competitive edge [5] Market Position and Future Outlook - The agreement with Xiaolu Lithium reflects the recognition of Sunrise's technological capabilities and product reliability in high-rate discharge applications [3] - The company aims to leverage its R&D expertise and manufacturing capabilities to capture market opportunities in high-performance battery applications and diversify its customer base [4] - As sodium-ion batteries gain traction, Sunrise anticipates increased shipment volumes through collaborations with high-quality customers [3]

Core Insights - Sunrise New Energy Co., Ltd. has signed a supply agreement with Anhui Narada Huatuo New Energy Technology Co., Ltd. to deliver 246 tons of graphite anode materials this month, with an expected total annual supply of 3,000 tons [1][3] - This agreement signifies Sunrise's entry into the telecom tower backup power market, expanding the application of its anode materials in the communication energy sector [1][3] - The demand for high-performance lithium-based backup systems is anticipated to rise due to the acceleration of 5G network deployment, presenting long-term growth potential for Sunrise [3] Company Overview - Sunrise New Energy Co., Ltd. is headquartered in Zibo, Shandong Province, China, and is engaged in the manufacturing and sale of graphite anode material for lithium-ion batteries [5] - The company operates a manufacturing facility in Guizhou Province with a production capacity of 50,000 tons, utilizing inexpensive electricity from renewable sources, positioning itself as a low-cost and environmentally friendly producer [5] - The management team of Sunrise comprises experts with extensive experience and a strong track record in the graphite anode industry [5] Market Position - Anhui Narada Huatuo New Energy Technology, a key business unit of Narada Power, holds a strong market position in the energy storage and backup power industry, particularly in telecom tower backup systems and large-scale energy storage stations [2] - The collaboration with Narada Power enhances the credibility of Sunrise's graphite anode materials in critical backup power applications [3] - The company plans to enhance product performance, expand production capabilities, and broaden the application of its anode materials across various sectors, facilitating market expansion both domestically and internationally [4]

Core Viewpoint - Sunrise New Energy Co., Ltd. has announced a new patent for a spherical hard carbon composite material aimed at improving low-temperature energy storage solutions, particularly for sodium-ion batteries, enhancing efficiency and reliability in energy storage systems [1][2]. Group 1: Patent and Technology - The newly published patent, titled "Spherical Hard Carbon Composite Material and Its Preparation Method," addresses challenges faced by traditional hard carbon anode materials, such as reduced efficiency and limited cycle life under low-temperature conditions [1][2]. - Innovations in the design of the spherical hard carbon composite structure optimize the carbon framework and improve conductive/ionic pathways, enhancing low-temperature conductivity and ion diffusion efficiency [2]. Group 2: Market Position and Future Plans - The technology is expected to strengthen the company's competitiveness in the global energy storage market and expand its offerings in low-temperature sodium-ion storage solutions [3]. - The company plans to advance engineering validation, performance testing, and industrialization efforts for the patented technology to accelerate the commercialization of high-performance battery materials [3]. Group 3: Company Overview - Sunrise New Energy Co., Ltd. is headquartered in Zibo, Shandong Province, China, and is involved in the manufacturing and sale of graphite anode material for lithium-ion batteries [4]. - The company operates a manufacturing facility in Guizhou Province with a production capacity of 50,000 tons, utilizing inexpensive renewable energy sources to minimize environmental impact [4].

Core Insights - Sunrise New Energy Co., Ltd. has successfully completed a mid-term evaluation of its project focused on silicon-carbon anode materials for lithium-ion batteries, receiving $730,000 in funding to advance development [1][2]. Group 1: Project Overview - The project aims to address challenges in the lithium-ion battery industry, such as volume expansion and cycle stability, to enhance energy density in next-generation batteries [2]. - The mid-term assessment highlighted significant progress in material innovation and process engineering, earning recognition from an expert review panel [2]. Group 2: Company Positioning - The CEO of Sunrise emphasized the commitment to using the funding to expedite pilot optimization and commercial readiness of the silicon-carbon anode technology, reinforcing the company's position in the high-performance battery materials market [3]. - Sunrise operates a manufacturing facility in Guizhou Province with a production capacity of 50,000 tons, utilizing renewable energy sources to minimize costs and environmental impact [3].

Core Insights - Sunrise New Energy Co., Ltd. has announced a new invention patent for a porous carbon-coated graphite composite material aimed at enhancing energy storage batteries, which is expected to strengthen the company's competitive edge in the global energy storage market [1][2]. Company Overview - Sunrise New Energy is headquartered in Zibo, Shandong Province, China, and focuses on manufacturing and selling graphite anode materials for lithium-ion batteries. The company has a joint venture that operates a manufacturing facility with a production capacity of 50,000 tons located in Guizhou Province, utilizing renewable energy sources for low-cost and environmentally friendly production [4]. Industry Context - The demand for high-performance anode materials for energy storage batteries is rapidly increasing due to the growth of large-scale energy storage power stations, commercial and industrial energy storage, and data center Battery Energy Storage Systems (BESS). Leading global operators are adopting lithium-ion batteries while exploring next-generation technologies with improved safety and energy density [2]. Future Plans - The company is committed to ongoing research and development of key anode materials for energy storage and solid-state batteries, aiming to establish a comprehensive technology platform for various applications, including grid-side and commercial energy storage [3].

Core Insights - Sunrise New Energy Co., Ltd. has announced the publication of its invention patent for a high-capacity alloy anode material for lithium-ion batteries, which is aimed at solid-state battery applications [1][4] Group 1: Patent and Technology - The patent focuses on the structural design and preparation method of next-generation high-capacity alloy anode materials, which are expected to advance high-capacity alloy anode technologies [1][4] - Alloy-based anode materials offer significantly higher theoretical capacities compared to traditional graphite anodes, enhancing energy density, but face challenges such as volume expansion and structural instability [2] - The invention aims to improve capacity and cycling performance, potentially leading to more stable interfaces with solid electrolytes in solid-state battery systems [3] Group 2: Company Overview - Sunrise New Energy is headquartered in Zibo, Shandong Province, China, and is involved in the manufacturing and sale of graphite anode material for lithium-ion batteries [5] - The company has a manufacturing facility in Guizhou Province with a production capacity of 50,000 tons, utilizing renewable energy sources to minimize environmental impact [5] - The management team consists of industry experts with extensive experience in the graphite anode sector, and the company operates a knowledge-sharing platform in China [5]

Core Insights - Sunrise New Energy Co., Ltd. has signed an annual supply agreement with Shanghai Pylon Technologies Co., Ltd. to supply 5,000 tons of high-performance anode materials, valued at USD 15.1 million [1] - This agreement marks Sunrise's entry into the European energy storage supply chain and establishes a strategic partnership with a leading global player in the industry [3] - The company aims to leverage its advanced R&D capabilities and production capacity to ensure a stable and high-quality supply to Pylontech while expanding its collaboration with global energy storage enterprises [4] Company Overview - Sunrise New Energy Co., Ltd. is headquartered in Zibo, Shandong Province, China, and focuses on manufacturing and selling graphite anode material for lithium-ion batteries [5] - The company has a manufacturing facility in Guizhou Province with a production capacity of 50,000 tons, utilizing inexpensive renewable energy sources, positioning itself as a low-cost and environmentally friendly producer [5] - The management team includes industry experts with extensive experience and a strong track record in the graphite anode sector [5] Industry Context - Pylontech is recognized as a leading provider of energy storage systems, particularly in the European residential energy storage market, and has maintained a dominant position for several consecutive years [2] - The partnership with Pylontech is expected to accelerate Sunrise's expansion into international energy storage markets, generating substantial long-term growth momentum [3]