Thunder Power Holdings, Inc. SEC 10-Q Report

Thunder Power Holdings, Inc., a company dedicated to the development and manufacturing of premium electric vehicles (EVs), has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial performance and operational activities, shedding light on the significant challenges and strategic initiatives currently shaping its business trajectory. Financial Highlights Revenues: $0 million. The company has not generated revenue from the sale of EVs.Net Loss: $1.7 million. The company incurred a net loss due to significant operating expenses and lack of revenue.Loss per share – basic and diluted: $(0.03). Reflects the net loss distributed over the weighted average shares. Business Highlights Business Overview Thunder Power Holdings, Inc. is focused on the development and manufacturing of premium electric vehicles (EVs) with differentiated designs and solutions tailored for various lifestyles. The company is a technology innovator in the EV space, with several proprietary technologies forming the foundation of its product lineup. Product Development The company has four models in its phased development strategy: the limited-edition Coupe (488), the long-range Sedan, the compact City Car (Chloe), and the long-range SUV. These models are designed to cater to consumers seeking practical, innovative, and luxury EV experiences. Modular Integration Concept Thunder Power leverages a modular integration concept, starting with a modularized chassis system patented by the company. This approach allows for the creation of a family of EVs that share common parts and modules, reducing investment and design and production time compared to traditional automotive manufacturers. Future Product Strategy The company plans to initially design the Sedan and then scale upwards to create the Coupe and downwards to create the City Car, eventually rounding off its offering with the SUV. Market Positioning Thunder Power aims to offer eco-friendly, premium EVs that earn market share based on design, quality, comfort, range, and price. The company's proprietary technologies are expected to enhance driving range, allow for faster recharging, and lower ownership costs. Business Combination On June 21, 2024, Thunder Power Holdings, Inc. completed a business combination with Feutune Light Acquisition Corporation, resulting in a reverse recapitalization. The combined company is now organized under the laws of the State of Delaware. Trading and Listing Following the business combination, the company's common stock began trading on the Nasdaq Global Market under the symbol 'AIEV'. However, trading was suspended on April 21, 2025, and the company's securities were delisted from Nasdaq effective July 31, 2025. The common stock is now traded on the over-the-counter market. Operational Challenges The company faces significant uncertainties regarding its ability to continue as a going concern, including operating losses, challenges in generating sufficient revenue, and the impact of the suspension of trading on its ability to access capital markets. Legal Proceedings The principal shareholder is involved in ongoing legal proceedings, which introduce uncertainty about future involvement and financial support for the company. Management's Focus Management is exploring new financing options, resolving legal issues, and evaluating business restructuring or cost reduction strategies to address these challenges and ensure the company's continuation as a going concern.SEC Filing: Thunder Power Holdings, Inc. [ AIEV ] - 10-Q - Nov. 13, 2025