Lotus Technology (LOT) grows deliveries 39% amid heavy debt

Q: How did Lotus Technology Inc. (LOT) perform financially in the first half of 2026?

Lotus Technology reported $268 million in revenues, up 23% year over year, with gross margin improving to 10%. Operating loss narrowed to $97 million and net loss to $151 million, while adjusted EBITDA loss improved to $104 million.

Q: What were Lotus Technology Inc. (LOT) vehicle deliveries in the first half of 2026?

Lotus Technology delivered 3,904 vehicles in the first half of 2026, up 39% from 2,813 a year earlier. Lifestyle SUVs and sedans accounted for 3,008 units, or 77% of deliveries, while sports cars contributed 896 units.

Q: How did Lotus Technology Inc. (LOT) perform in China and other regions?

In China, deliveries reached 2,248 units, up 60% year over year and representing 58% of total units. Europe delivered 716 units, the Americas 631 units, and the Rest of the World 309 units.

Q: What is Lotus Technology Inc. (LOT)’s current profitability and cash position?

Lotus Technology had a net loss of $151 million and an adjusted EBITDA loss of $104 million for the first half of 2026. As of June 30, 2026, cash and cash equivalents were $80.4 million, with total restricted cash of $479.1 million.

Q: What is the balance sheet status of Lotus Technology Inc. (LOT) as of June 30, 2026?

Total assets were $1.90 billion and total liabilities $3.23 billion, resulting in a total shareholders’ deficit of $1.33 billion. Short-term borrowings and related-party obligations form a significant part of the liability structure.

Q: What strategic actions did Lotus Technology Inc. (LOT) take in the first half of 2026?

Lotus Technology launched Eletre in Canada, opened Eletre X orders in mainland Europe, introduced new sports car variants, completed the acquisition of Lotus UK, and entered a strategic collaboration on digital asset and RWA tokenization with Finloop and FOMO Pay.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

6-K

Rhea-AI Filing Summary

Lotus Technology Inc. (LOT) reported unaudited results for the six months ended June 30, 2026, showing higher scale and narrower losses. Vehicle deliveries reached 3,904 units, up 39% year over year, driven mainly by the new Eletre X PHEV and a shift toward lifestyle SUVs and sedans, which contributed 77% of deliveries.

Total revenues were $268 million, up 23% from 2025, with gross profit of $26 million and gross margin improving to 10% from 8%. Operating loss narrowed to $97 million (down 63% YoY) and net loss to $151 million (down 52% YoY); adjusted EBITDA loss improved to $104 million. Results benefited from an optimized product mix and a one-off license fee refund. The company closed the acquisition of Lotus UK and received $128 million in funding from major shareholder Geely. Despite progress, Lotus Tech still reports a substantial shareholders’ deficit of about $1.33 billion and total liabilities of $3.23 billion against total assets of $1.90 billion.

Positive

Revenues grew 23% YoY to $268 million, reflecting higher deliveries and stronger product mix.
Deliveries rose 39% YoY to 3,904 units, led by lifestyle SUVs and sedans and 60% growth in China.
Gross margin expanded to 10% from 8%, indicating improved profitability per vehicle.
Operating loss narrowed 63% to $97 million and net loss shrank 52% to $151 million, showing better cost control and operating leverage.
Adjusted EBITDA loss improved 57% to $104 million, signaling progress toward break-even on a non-GAAP basis.
$128 million funding from Geely during the first half of 2026 strengthened liquidity and signals continued shareholder support.
Acquisition of Lotus UK completed, expected to enhance brand management, technology development and operational synergies.

Negative

Net loss remained large at $151 million for the half year despite improvement.
Total shareholders’ deficit was $1.33 billion, with liabilities of $3.23 billion exceeding assets of $1.90 billion.
Service revenues fell to $4.8 million from $20.8 million, a sharp decline relative to the prior year period.
Foreign currency exchange losses were $21.8 million, reversing prior-year gains and pressuring bottom-line results.
Interest expenses totaled $34.3 million, reflecting a sizable debt burden including significant related-party and short-term borrowings.

Filing Explained

The report adds disclosure to three registration statements while showing that current liabilities exceed current assets at June 30.

As a Form 6-K interim report, the company furnished unaudited half-year results on August 27, 2026 and states that this report and its exhibits shall be part of three specified registration statements from that date.

The documents identified are a pre-effective amendment to Form F-3 and two post-effective amendments to Form F-1 on Form F-3, making the disclosed action an update to existing registration documents.

At June 30, 2026, current liabilities were $2,519,041 thousand, including $863,776 thousand of related-party short-term borrowings, $633,627 thousand of related-party payables and $207,075 thousand of related-party convertible notes, against current assets of $809,369 thousand.

Cash and cash equivalents were $80,378 thousand; restricted cash was $269,593 thousand in current assets and $209,490 thousand in non-current assets.

The filing says Eletre X customer deliveries are expected to begin in mainland Europe in the fourth quarter of 2026 and in the UK in mid-2027; those milestones remain prospective rather than completed in this report.

Key Figures

Total revenues: $268 million Vehicle deliveries: 3,904 units Gross margin: 10% +5 more

8 metrics

Total revenues $268 million For the six months ended June 30, 2026; up 23% YoY from $218 million

Vehicle deliveries 3,904 units Half Year 2026 total deliveries; up 39% YoY from 2,813 units

Gross margin 10% Half Year 2026, compared with 8% in the first half of 2025

Operating loss $97 million Half Year 2026; narrowed 63% from $263 million in 2025

Net loss $151 million Half Year 2026; narrowed 52% from $313 million in 2025

Adjusted EBITDA ($104 million) Non-GAAP Adjusted EBITDA loss for Half Year 2026; improved 57% from $240 million loss

Geely funding $128 million Funding secured from major shareholder Geely during the first half of 2026

Total shareholders’ deficit $1,328,767 thousand As of June 30, 2026 on the condensed consolidated balance sheet

Key Terms

Adjusted EBITDA, non-GAAP financial measures, warrant liabilities, exchangeable notes, +2 more

6 terms

Adjusted EBITDA financial

"Adjusted EBITDA (non-GAAP) was a loss of $104 million, narrowed by 57% YoY"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-GAAP financial measures financial

"The Company uses non-GAAP financial measures, including adjusted net loss and adjusted EBITDA"

Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.

warrant liabilities financial

"Warrant liabilities | | | 845 | | | | 800"

Warrant liabilities are the financial obligations a company records when it grants warrants—special rights allowing someone to buy shares at a set price in the future. If the warrants are expected to be exercised, they are treated as a liability because the company might need to deliver shares or cash later. This matters to investors because it affects the company’s reported financial health and the potential dilution of existing shares.

exchangeable notes financial

"Exchangeable notes | | | - | | | | 128,852"

Exchangeable notes are a type of financial asset that can be converted into shares of a different company or entity at a later time, often at a pre-set price or upon certain conditions. They matter to investors because they offer a way to potentially benefit from the growth of another company while initially providing more safety or flexibility than directly owning stocks. Think of them as a convertible ticket that can be exchanged for ownership in another business if certain opportunities arise.

contract liabilities financial

"Contract liabilities – third parties | | | 26,598"

Contract liabilities are amounts a company has been paid in advance for goods or services it still owes to customers — think of them like gift cards or prepaid subscriptions the company must fulfill later. For investors, they show promised future work or deliveries that will turn into revenue over time, reveal cash already collected, and help assess whether a firm has a backlog of obligations that could affect future earnings and cash flow.

restricted cash financial

"Restricted cash | | | 269,593 | | | | 375,865"

Cash that a company holds but cannot use for day-to-day operations because it is set aside for a specific purpose—such as meeting loan covenants, serving as collateral, funding an escrow, or complying with regulations. Like money in a locked savings account earmarked for a bill, restricted cash reduces the cash available to run the business and pay dividends or debts, so investors treat it differently when assessing a company’s true short-term financial strength.

Earnings Snapshot

Revenues: $268 million

Six months ended June 30, 2026

Revenues $268 million Up 23% from $218 million in the first half of 2025

Gross margin 10% Increased from 8% in the first half of 2025

Operating loss $97 million Narrowed 63% from $263 million in the first half of 2025

Net loss $151 million Narrowed 52% from $313 million in the first half of 2025

Adjusted EBITDA ($104 million) Improved 57% from a $240 million loss in the first half of 2025

Deliveries 3,904 units Up 39% from 2,813 units in the first half of 2025

FAQ

How did Lotus Technology Inc. (LOT) perform financially in the first half of 2026?

Lotus Technology reported $268 million in revenues, up 23% year over year, with gross margin improving to 10%. Operating loss narrowed to $97 million and net loss to $151 million, while adjusted EBITDA loss improved to $104 million.

What were Lotus Technology Inc. (LOT) vehicle deliveries in the first half of 2026?

Lotus Technology delivered 3,904 vehicles in the first half of 2026, up 39% from 2,813 a year earlier. Lifestyle SUVs and sedans accounted for 3,008 units, or 77% of deliveries, while sports cars contributed 896 units.

How did Lotus Technology Inc. (LOT) perform in China and other regions?

In China, deliveries reached 2,248 units, up 60% year over year and representing 58% of total units. Europe delivered 716 units, the Americas 631 units, and the Rest of the World 309 units.

What is Lotus Technology Inc. (LOT)’s current profitability and cash position?

Lotus Technology had a net loss of $151 million and an adjusted EBITDA loss of $104 million for the first half of 2026. As of June 30, 2026, cash and cash equivalents were $80.4 million, with total restricted cash of $479.1 million.

What is the balance sheet status of Lotus Technology Inc. (LOT) as of June 30, 2026?

Total assets were $1.90 billion and total liabilities $3.23 billion, resulting in a total shareholders’ deficit of $1.33 billion. Short-term borrowings and related-party obligations form a significant part of the liability structure.

What strategic actions did Lotus Technology Inc. (LOT) take in the first half of 2026?

Lotus Technology launched Eletre in Canada, opened Eletre X orders in mainland Europe, introduced new sports car variants, completed the acquisition of Lotus UK, and entered a strategic collaboration on digital asset and RWA tokenization with Finloop and FOMO Pay.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

Form 6-K: How Foreign Companies Report to the SEC →

Available on EDGAR 08/27/2026 - 06:07 AM Accepted by SEC EDGAR 08/27/2026 - 06:02 AM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of August 2026

Commission File Number: 001-41970

Lotus Technology Inc.

(Translation of registrant’s name into English)

No. 800 Century Avenue

Pudong District, Shanghai, People’s Republic of China

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F x Form 40-F ¨

EXPLANATORY NOTE

This current report on Form 6-K, including the exhibits hereto, is incorporated by reference into the pre-effective amendment No. 1 to the registration statement on Form F-3 (File No. 333-285533), post-effective amendment No. 3 to the registration statement on Form F-1 on Form F-3 (File No. 333-279108) and the post-effective amendment No. 2 to the registration statement on Form F-1 on Form F-3 (File No. 333-282217) and shall be a part of such registration statements from the date on which this current report is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release – Lotus Technology Reports Unaudited Half Year 2026 Financial Results

99.2		Presentation – Unaudited Fist Half 2026 Results of Lotus Technology Inc.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Lotus Technology Inc.

By	:	/s/ Daxue Wang
Name	:	Daxue Wang
Title	:	Chief Financial Officer

Date: August 27, 2026

Exhibit 99.1

Lotus Technology Reports Unaudited Half Year 2026 Financial Results

Operational and financial results demonstrate early progress of Focus 2030 strategy.

Successful launch of the first PHEV model contributed to 39% YoY growth in deliveries to 3,904 vehicles.

Total revenues of $268 million, up 23% YoY, driven by strong momentum in the China market.

Gross margin expanded to 10%, supported by an optimized product mix.

Operating loss narrowed by 63% YoY, driven by cost discipline, improving operating leverage, and a one-off license fee refund.

Lotus Tech has completed the acquisition of 100% equity interest of Lotus UK, integrating all businesses and operations under One Lotus.

Continued shareholder support with $128 million in funding.

NEW YORK – August 27, 2026 – Lotus Technology Inc. (Nasdaq: LOT) (“Lotus Tech” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its unaudited financial results for the half year ended June 30, 2026.

Operating Highlights of the First Half of 2026

In the first half of 2026, the Company recorded total deliveries¹ of 3,904 units, up 39% YoY, outperforming the referenced traditional premium and luxury peers². Growth was driven by the successful launch of the new PHEV model, Eletre X, which resonated strongly with customers and expanded the brand’s reach into new segments.

The introduction of Eletre X has accelerated the Company’s product mix transition, with contribution of lifestyle vehicles to total deliveries increasing to 77%, while maintaining stable performance in its sports car segment. Eletre X has been delivered in China and six international markets. Deliveries in mainland Europe are expected to commence in the fourth quarter of 2026, followed by the UK in mid-2027.

Regionally, China experienced strong growth in total deliveries with an increase of 60% YoY, outpacing the premium passenger automotive segment³ amid an increasingly competitive landscape.

Financial results improved during the period. Total revenues were $268 million, an increase of 23% YoY. Gross profit improved to $26 million, with gross margin expanding to 10%, driven by an optimized product mix. Operating loss narrowed by 63% YoY, reflecting disciplined financial management, improving operating leverage, and a one-off refund of the license fee in connection with adjustments to the product pipeline⁴.

On August 21, the Company completed the previously announced acquisition of Lotus UK. The integration brings together British sports car expertise and advanced technology development, and is expected to create a unique position within the luxury automotive sector, with a unified brand, streamlined governance, and enhanced synergies.

The achievements underscore the early success of the Company’s Focus 2030 strategy, which is centered on brand reinforcement, multi-powertrain strategy, close partner collaboration, and financial discipline. The strong market reception of Eletre X validates the Company’s multi-powertrain strategy, while margin expansion and a significantly narrowed operating loss reflect continued financial discipline. The integration resulting from the Lotus UK acquisition is expected to further strengthen brand management and operational efficiency.

The Company also continues to benefit from the strong support from its major shareholders and strategic partners. During the first half of 2026, it secured $128 million in funding from Geely, reinforcing confidence in its long-term strategy and providing a foundation for continued growth.

Deliveries¹ by Model Type

	Half Year 2026		Half Year 2025		% Change (YoY)
Lifestyle SUV and Sedan		3,008		1,922		57	%
Sports Cars		896		891		1	%
Total		3,904		2,813		39	%

Deliveries¹ by Region

	Half Year 2026					Half Year 2025
	Units		Region %			Units		Region %
China		2,248		58	%		1,403		50	%
Europe		716		18	%		858		31	%
Americas⁵		631		16	%		435		15	%
Rest of the World		309		8	%		117		4	%
Total		3,904		100	%		2,813		100	%

Financial Highlights of the First Half of 2026

●	Total revenues were $268 million, up 23% YoY.
●	Gross margin was 10%, versus 8% for the first half of 2025.
●	Operating loss was $97 million, narrowed by 63% YoY.
●	Net loss was $151 million, narrowed by 52% YoY.
●	Adjusted EBITDA (non-GAAP) was a loss of $104 million, narrowed by 57% YoY.

Key Financial Results

The table below summarizes key preliminary financial results for the six months ended June 30, 2026.

(in millions of U.S. dollars, unaudited)

	Half Year 2026			Half Year 2025			% Change (YoY)
Revenues		268			218			23	%
Cost of revenues		(242	)		(200	)		21	%
Gross profit		26			18			47	%
Gross margin (%)		10	%		8	%
Operating loss		(97	)		(263	)		(63	)%
Net loss		(151	)		(313	)		(52	)%
Adjusted net loss^(A)		(149	)		(311	)		(52	)%
Adjusted EBITDA^(A)		(104	)		(240	)		(57	)%

(A) Non-GAAP measure. See “Non-GAAP Financial Measures” and “Appendix C – Unaudited Reconciliation of GAAP and Non-GAAP Results (Adjusted net loss/Adjusted EBITDA)” for details and a reconciliation of adjusted metrics to the nearest GAAP measure.

Recent Developments

●	Eletre Launched in Canada: On April 23, Eletre EVs debuted in the Canadian market, making them the first Chinese-built luxury EVs available for purchase in Canada and making another milestone in the Company’s international expansion strategy.
●	Emira 420 Sport: In May, Lotus introduced the Emira 420 Sport, further strengthening its sports car portfolio and reinforcing the brand’s commitment to preserving its track-bred DNA.
●	Type 135 Supercar for 2028: Lotus has officially announced the development of a new mid-engine V8 hybrid supercar, internally codenamed Type 135, scheduled for release in 2028, underscoring its long-term commitment to high-performance vehicles.
●	Eletre X Orders Open in Mainland Europe: On June 3, Eletre X became available to order in mainland Europe, representing an important step in the international rollout of the Company’s first PHEV model. Customer deliveries are expected to commence in the fourth quarter of 2026.
●	2025 Sustainability Report: On June 18, Lotus released its 2025 Sustainability Report, highlighting continued progress in embedding sustainability across its global operations.
●	Emira Scura Limited Edition Launched: On July 26, Lotus launched the Emira Scura Limited Edition in China. Arriving 17 years after the Exige Scura, the Emira Scura pays homage to that model with a similarly striking design and is limited to just 9 units in China and 60 units in North America.
●	Emeya Sets New Electric Vehicle Lap Record: On July 20, Lotus Emeya set a new record at Malaysia’s renowned Sepang International Circuit, reinforcing the brand’s performance credentials.
●	Strategic Collaboration: On July 28, the Company announced a strategic collaboration with Finloop Finance Technology, an AI-driven global one-stop Web5 (Web2+Web3) wealth technology platform, and FOMO Pay, a leading Singapore-headquartered payment institution, to explore digital asset and real-world asset (RWA) tokenization in the luxury mobility sector.

CEO and CFO Comments

Mr. Qingfeng Feng, Chief Executive Officer, commented: “Our first-half performance demonstrates clear progress in executing our transformational Focus 2030 strategy. The strong demand for our new PHEV validates our multi-powertrain approach and expands our addressable market. We are encouraged by the improvement in both scale and operating performance, and remain focused on delivering sustainable, long-term value. Looking ahead, we remain fully committed to our Focus 2030 strategy, building on the momentum of our multi-powertrain approach, expanding internationally and further enhancing operating efficiency, while continuing to strengthen Lotus’ track-bred DNA through vehicles such as the Emira 420 Sport and the upcoming V8 hybrid sports car, Type 135.”

Dr. Daxue Wang, Chief Financial Officer, commented: “We are seeing tangible results from our disciplined financial management and improving operating leverage. Margin expansion and significant reduction in operating loss highlight the effectiveness of our product strategy and cost control. With continued support from our shareholders, we are well positioned to further strengthen our financial performance in the coming periods.”

Conference Call

Lotus Tech management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Thursday, August 27, 2026 (14:00 Central European Time / 20:00 China Standard Time on the same day).

There will be a live audio webcast and limited-time replay available on the Company’s investor relations website at https://ir.group-lotus.com/news-events/events/

Participants who wish to view the live webcast may register at https://edge.media-server.com/mmc/p/fna84dsa

Participants who wish to join the conference call, please complete online registration prior to the scheduled call start time using the link provided below. Upon registration, participants will receive a confirmation email with conference call access information, including dial-in numbers and a unique PIN. Participant online registration link: https://register-conf.media-server.com/register/BIb14ba874347b4170a033130cedc8bcac

Note 1: Including commissioned deliveries in the U.S. market.

Note 2: Based on publicly disclosed information of Ferrari, Lamborghini, Aston Martin, Rolls-Royce, Porsche, BMW, Mercedes-Benz, Audi, and Volvo.

Note 3: Based on market data of retail sales volume in the first half of 2026 in mainland China. Premium auto segment refers to passenger vehicles priced over RMB 400,000.

Note 4: Excluding the one-off license fee refund, the operating loss in the first half of 2026 was $195 million, narrowed by 26% YoY.

Note 5: Americas includes the U.S., Canada and South America.

– END –

About Lotus Technology Inc.

Lotus Technology Inc. has operations across the UK, the EU, the US and China. The Company is dedicated to delivering high-performance sports cars and luxury lifestyle electric vehicles under Lotus Brand, a global performance brand built on solid foundations and a rich heritage, with a focus on world-class R&D in next-generation automobility technologies and designs to meet its uncompromising vision of how a car should look, perform and feel. For more information about Lotus Technology Inc., please visit www.group-lotus.com.

Non-GAAP Financial Measures

The Company uses non-GAAP financial measures, including adjusted net loss and adjusted EBITDA in evaluating its operating results and for financial and operational decision-making purposes. Adjusted net loss represents net loss excluding share-based compensation expenses, and such adjustment has no impact on income tax. Lotus Tech defines adjusted EBITDA as net loss excluding interest income, interest expense, income tax expenses, depreciation of property, equipment and software, and share-based compensation expenses. The Company believes that non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making.

Non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. Non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for financial information prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance. For more information on non-GAAP financial measures, please see "Appendix C – Unaudited Reconciliation of GAAP and Non-GAAP Results (Adjusted net loss/Adjusted EBITDA)" set forth at the end of this press release.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Forward-looking statements involve inherent risks and uncertainties, including those identified under the heading “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lotus Tech undertakes no obligation to update any forward-looking statement, except as required under applicable law.

Contact Information

For investor inquiries

ir@group-lotus.com

Appendix A

Lotus Technology Inc.

Unaudited Condensed Consolidated Balance Sheets

(All amounts in thousands)

	As of
	June 30, 2026		December 31, 2025
	US$		US$
ASSETS
Current assets
Cash and cash equivalents		80,378		73,431
Restricted cash		269,593		375,865
Accounts receivable – third parties, net		30,584		36,850
Accounts receivable – related parties, net		59,734		114,126
Inventories		170,371		121,361
Prepayments and other current assets – third parties, net		85,925		77,570
Prepayments and other current assets – related parties, net		112,784		111,886

Total current assets		809,369		911,089

Non-current assets
Restricted cash		209,490		100,981
Loan receivable from a related party		368,584		351,486
Property, equipment and software, net		177,600		226,891
Intangible assets		116,372		116,475
Long-term investments		58,298		48,004
Operating lease right-of-use assets		96,879		118,845
Other non-current assets – third parties		66,867		78,408
Other non-current assets – related parties		587		569

Total non-current assets		1,094,677		1,041,659

Total assets		1,904,046		1,952,748

Lotus Technology Inc.

Unaudited Condensed Consolidated Balance Sheets (Continued)

(All amounts in thousands)

	As of
	June 30, 2026		December 31, 2025
	US$		US$
LIABILITIES AND SHAREHOLDERS' DEFICIT
Current liabilities
Short-term borrowings – third parties		402,744		479,419
Short-term borrowings – related parties		863,776		784,288
Accounts payable – third parties		23,666		55,032
Accounts payable – related parties		633,627		458,189
Contract liabilities – third parties		26,598		18,459
Operating lease liabilities – third parties		9,146		11,598
Accrued expenses and other current liabilities – third parties		215,523		251,361
Accrued expenses and other current liabilities – related parties		136,886		213,529
Convertible notes - related parties		207,075		126,203

Total current liabilities		2,519,041		2,398,078

Non-current liabilities
Contract liabilities – third parties		7,578		7,458
Operating lease liabilities – third parties		47,653		57,576
Operating lease liabilities – related parties		2,219		3,105
Warrant liabilities		845		800
Exchangeable notes		-		128,852
Convertible notes - third parties		61,972		73,226
Convertible notes - related parties		-		77,175
Long-term borrowings		204,644		98,254
Deferred income		330,334		311,912
Deferred tax liabilities		-		698
Other non-current liabilities – third parties		58,527		125,004
Other non-current liabilities – related parties		-		856

Total non-current liabilities		713,772		884,916

Total liabilities		3,232,813		3,282,994

Lotus Technology Inc.

Unaudited Condensed Consolidated Balance Sheets (Continued)

(All amounts in thousands)

	As of
	June 30, 2026			December 31, 2025
	US$			US$
SHAREHOLDERS’ DEFICIT
Ordinary shares		7			7
Treasury stock		(130,921	)		(138,397	)
Additional paid-in capital		2,118,617			1,933,992
Accumulated other comprehensive income		(4,772	)		39,818
Accumulated deficit		(3,308,860	)		(3,157,918	)

Total shareholders' deficit attributable to ordinary shareholders		(1,325,929	)		(1,322,498	)
Noncontrolling interests		(2,838	)		(7,748	)
Total shareholders' deficit		(1,328,767	)		(1,330,246	)

Total liabilities and shareholders' deficit		1,904,046			1,952,748

Appendix B

Lotus Technology Inc.

Unaudited Condensed Consolidated Statements of Comprehensive Loss

(All amounts in thousands, except for share and per share data)

	For the Six Months Ended June 30,
	2026			2025
	US$			US$
Revenues:
Sales of goods		263,256			197,485
Service revenues		4,843			20,841
Total revenues		268,099			218,326
Cost of revenues:
Cost of goods sold		(238,119	)		(184,885	)
Cost of services		(3,688	)		(15,575	)
Total cost of revenues		(241,807	)		(200,460	)
Gross profit		26,292			17,866
Operating expenses:
Research and development credit (expenses)		1,565			(92,305	)
Selling and marketing expenses		(82,932	)		(78,995	)
General and administrative expenses		(46,176	)		(63,356	)
Other operating income		3,839			4,866
Impairment of long-lived assets		-			(51,504	)
Total operating expenses		(123,704	)		(281,294	)
Operating loss		(97,412	)		(263,428	)
Interest expenses		(34,300	)		(33,641	)
Interest income		15,202			13,157
Investment (loss) income, net		(453	)		9,400
Foreign currency exchange (losses) gains, net		(21,817	)		40,525
Changes in fair values of liabilities, excluding impact of instrument-specific credit risk		(9,948	)		(68,084	)
Loss before income taxes and share of results of equity method investments		(148,728	)		(302,071	)
Income tax credit (expense)		664			(15,043	)
Share of results of equity method investments		(2,878	)		4,074
Net loss		(150,942	)		(313,040	)
Less: Net loss attributable to noncontrolling interests		-			(2	)
Net loss attributable to ordinary shareholders		(150,942	)		(313,038	)
Loss per ordinary share
—Basic and diluted		(0.23	)		(0.47	)
Weighted average number of ordinary shares outstanding used in computing net loss per ordinary share
—Basic and diluted		645,541,822			659,335,966

Lotus Technology Inc.

Unaudited Condensed Consolidated Statements of Comprehensive Loss (Continued)

(All amounts in thousands, except for share and per share data)

	For the Six Months Ended June 30,
	2026			2025
	US$			US$
Net loss		(150,942	)		(313,040	)

Other comprehensive (loss) income:
Fair value changes of liabilities due to instrument-specific credit risk, net of nil income taxes		13,664			16,427
Foreign currency translation adjustment, net of nil income taxes		(45,552	)		(6,332	)

Total other comprehensive (loss) income		(31,888	)		10,095

Total comprehensive loss		(182,830	)		(302,945	)
Less: Total comprehensive loss attributable to noncontrolling interests		-			(2	)
Total comprehensive loss attributable to ordinary shareholders		(182,830	)		(302,943	)

Appendix D

Lotus Technology Inc.

Unaudited Reconciliation of GAAP and Non-GAAP Results (Adjusted net loss/Adjusted EBITDA)

(All amounts in thousands)

	For the Six Months Ended June 30,
	2026			2025
	US$			US$
Net loss		(150,942	)		(313,040	)
Share-based compensation expenses		1,635			2,215
Adjusted net loss		(149,307	)		(310,825	)
Net loss		(150,942	)		(313,040	)
Interest expenses		34,300			33,641
Interest income		(15,202	)		(13,157	)
Income tax (credit) expense		(664	)		15,043
Share-based compensation expenses		1,635			2,215
Depreciation		26,920			35,652
Adjusted EBITDA		(103,953	)		(239,646	)

Exhibit 99.2

R: 255 G: 255 B: 255 R: 242 G: 241 B: 240 R: 255 G: 247 B: 102 R: 255 G: 249 B: 153 R: 193 G: 192 B: 191 R: 247 G: 246 B: 246 R: 252 G: 252 B: 252 R: 114 G: 114 B: 114 R: 184 G: 184 B: 184 <PUBLIC> FIRST HALF 2026 RESULTS

R: 255 G: 255 B: 255 R: 242 G: 241 B: 240 R: 255 G: 247 B: 102 R: 255 G: 249 B: 153 R: 193 G: 192 B: 191 R: 247 G: 246 B: 246 R: 252 G: 252 B: 252 R: 114 G: 114 B: 114 R: 184 G: 184 B: 184 LOTUS TECH EARNINGS RESULT 2

R: 255 G: 255 B: 255 R: 242 G: 241 B: 240 R: 255 G: 247 B: 102 R: 255 G: 249 B: 153 R: 193 G: 192 B: 191 R: 247 G: 246 B: 246 R: 252 G: 252 B: 252 R: 114 G: 114 B: 114 R: 184 G: 184 B: 184 THANK YOU <PUBLIC> ir.group-lotus.com

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

2 documents

Lotus Technology (LOT) grows deliveries 39% amid heavy debt

Rhea-AI Filing Summary

Positive

Negative

Filing Explained

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did Lotus Technology Inc. (LOT) perform financially in the first half of 2026?

What were Lotus Technology Inc. (LOT) vehicle deliveries in the first half of 2026?

How did Lotus Technology Inc. (LOT) perform in China and other regions?

What is Lotus Technology Inc. (LOT)’s current profitability and cash position?

What is the balance sheet status of Lotus Technology Inc. (LOT) as of June 30, 2026?

What strategic actions did Lotus Technology Inc. (LOT) take in the first half of 2026?

Filing Exhibits & Attachments

Press Releases