Thunder Power Holdings (AIEV) filed its Q3 2025 report. The company recorded no revenue and a net loss of $428,139 for the quarter, narrower than a year ago as general and administrative expenses fell to $428,053. For the first nine months of 2025, net loss was $1,686,545.
Liquidity remains strained: cash was $16,441 at September 30, 2025, with operating cash outflow of $1,368,298 year‑to‑date. The balance sheet shows total assets of $13.51M, liabilities of $8.26M (including $3.27M due to related parties), and shareholders’ equity of $5.25M. Management disclosed “substantial doubt” about continuing as a going concern absent additional financing and operational progress.
The company was delisted from Nasdaq effective July 31, 2025 and now trades OTC under “AIEV.” It continues to pursue a previously approved share exchange to acquire Electric Power Technology Limited (37,635,039 new shares), with closing subject to conditions and targeted no later than October 31, 2025.