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SCHEDULE OF CURRENT LEGAL PROCEEDINGS (Details) - 12 months ended Dec. 31, 2025 ¥ in Millions | USD ($) | CNY (¥) | CNY (¥)
--- | --- | --- | ---
Loss Contingencies [Line Items] |  |  |  |
Recorded in Account Payable |  | $ 3,134,576 |  | ¥ 21.9
Recorded in Accrued legal expenses |  | $ 2,991,746 | ¥ 20.9 |
Wang Zhangang [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Wang Zhangang | Wang Zhangang |
Defendant |  | Zibo, PRC, Ganzhou, PRC | Zibo, PRC, Ganzhou, PRC |
Cause of Action |  | Labor disputes | Labor disputes |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  |  |  |
Recorded in Accrued legal expenses |  | $ 4,004 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Zhangdian District Labor Dispute Arbitration Committee | Zhangdian District Labor Dispute Arbitration Committee |
Shenzhen Haiying Science & Technology Co., Ltd. [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Haiying Science & Technology Co., Ltd. | Shenzhen Haiying Science & Technology Co., Ltd. |
Defendant |  | Huizhou, PRC, Ganzhou, PRC | Huizhou, PRC, Ganzhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 38,599 |  |
Recorded in Accrued legal expenses |  | $ 6,834 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Shenzhen Futian District People’s Court | Shenzhen Futian District People’s Court |
Suzhou Industrial Park Deyanfu Mechanical Equipment Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Suzhou Industrial Park Deyanfu Mechanical Equipment Co., Ltd. | Suzhou Industrial Park Deyanfu Mechanical Equipment Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  |  |  |
Recorded in Accrued legal expenses |  | $ 1,144 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Suzhou Industrial Park People’s Court | Suzhou Industrial Park People’s Court |
Ganzhou Dari Mechanical and Electrical Equipment Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Ganzhou Dari Mechanical and Electrical Equipment Co., Ltd. | Ganzhou Dari Mechanical and Electrical Equipment Co., Ltd. |
Defendant |  | Ganzhou, PRC | Ganzhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 11,118 |  |
Recorded in Accrued legal expenses |  |  |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Ganzhou Economic and Technological Development Zone People’s Court | Ganzhou Economic and Technological Development Zone People’s Court |
Ganzhou Dari Mechanical and Electrical Equipment Co Ltd One [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Ganzhou Dari Mechanical and Electrical Equipment Co., Ltd. | Ganzhou Dari Mechanical and Electrical Equipment Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 3,281 |  |
Recorded in Accrued legal expenses |  | $ 5,587 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Jiangxi Province Ganzhou Economic and Technological Development Zone People’s Court | Jiangxi Province Ganzhou Economic and Technological Development Zone People’s Court |
Shenzhen Kaifu Mechanical and Electrical Equipment Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Kaifu Mechanical and Electrical Equipment Co., Ltd. | Shenzhen Kaifu Mechanical and Electrical Equipment Co., Ltd. |
Defendant |  | Ganzhou, PRC | Ganzhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 20,592 |  |
Recorded in Accrued legal expenses |  | $ 1,416 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Longgang District People’s Court | Longgang District People’s Court |
Shenzhen Yuqiang New Materials Co Ltd Zhongshan Branch [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Yuqiang New Materials Co., Ltd., Zhongshan Branch | Shenzhen Yuqiang New Materials Co., Ltd., Zhongshan Branch |
Defendant |  | Ganzhou, PRC | Ganzhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 11,232 |  |
Recorded in Accrued legal expenses |  | $ 808 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Zhongshan City Second People’s Court | Zhongshan City Second People’s Court |
Deng Yongbo [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Deng Yongbo | Deng Yongbo |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Labor disputes | Labor disputes |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 11,680 |  |
Recorded in Accrued legal expenses |  | $ 23,116 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Huizhou Huicheng District Labor and Personnel Dispute Arbitration Committee | Huizhou Huicheng District Labor and Personnel Dispute Arbitration Committee |
Shenzhen Kuayue Express Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Kuayue Express Co., Ltd. | Shenzhen Kuayue Express Co., Ltd. |
Defendant |  | Yilon Energy, Huizhou, PRC | Yilon Energy, Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 11,008 |  |
Recorded in Accrued legal expenses |  | $ 3,950 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Shenzhen Bao’an District People’s Court | Shenzhen Bao’an District People’s Court |
Shenzhen Jintongda Machinery Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Jintongda Machinery Co., Ltd. | Shenzhen Jintongda Machinery Co., Ltd. |
Defendant |  | Ganzhou, PRC | Ganzhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 46,710 |  |
Recorded in Accrued legal expenses |  | $ 12,572 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Ganzhou Economic and Technological Development Zone People’s Court | Ganzhou Economic and Technological Development Zone People’s Court |
Shenzhen Haizhuolian Mechanical and Electrical Equipment Co Ltd Ganzhou Branch [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Haizhuolian Mechanical and Electrical Equipment Co., Ltd., Ganzhou Branch | Shenzhen Haizhuolian Mechanical and Electrical Equipment Co., Ltd., Ganzhou Branch |
Defendant |  | Ganzhou, PRC | Ganzhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Judgment effected | Judgment effected |
Recorded in Account Payable |  |  |  |
Recorded in Accrued legal expenses |  | $ 5,720 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Ganzhou Economic and Technological Development Zone People’s Court | Ganzhou Economic and Technological Development Zone People’s Court |
Shenzhen Fengshengyuan Technology Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Fengshengyuan Technology Co., Ltd. | Shenzhen Fengshengyuan Technology Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 14,648 |  |
Recorded in Accrued legal expenses |  |  |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Guangzhou Intermediate People’s Court | Guangzhou Intermediate People’s Court |
Shandong Chuangying Flooring Engineering Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shandong Chuangying Flooring Engineering Co., Ltd. | Shandong Chuangying Flooring Engineering Co., Ltd. |
Defendant |  | Zibo, PRC, Huizhou, PRC | Zibo, PRC, Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 1,715 |  |
Recorded in Accrued legal expenses |  | $ 1,137 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Zibo Zhangdian District People’s Court Fengshui Tribunal | Zibo Zhangdian District People’s Court Fengshui Tribunal |
Amphenol Automotive Connection Systems Changzhou Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Amphenol Automotive Connection Systems Changzhou Co., Ltd. | Amphenol Automotive Connection Systems Changzhou Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 11,559 |  |
Recorded in Accrued legal expenses |  | $ 937 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Changzhou Xinbei District People’s Court | Changzhou Xinbei District People’s Court |
Lanzhou Electric Motor Co Ltd Companies [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff | [1] | Lanzhou Electric Motor Co., Ltd. Companies(i) | Lanzhou Electric Motor Co., Ltd. Companies(i) |
Defendant | [1] | Ganzhou, PRC | Ganzhou, PRC |
Cause of Action | [1] | Contractual Dispute | Contractual Dispute |
Status | [1] | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable | [1] | $ 2,868,396 |  |
Recorded in Accrued legal expenses | [1] | $ 675,985 |  |
Status of Subsequent Updates to the Filing Date | [1] | No change | No change |
Name of the Court | [1] | Lanzhou New District People’s Court | Lanzhou New District People’s Court |
Shenzhen Lingyueda Technology Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Lingyueda Technology Co., Ltd. | Shenzhen Lingyueda Technology Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 14,550 |  |
Recorded in Accrued legal expenses |  | $ 660 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Shenzhen Guangming District People’s Court | Shenzhen Guangming District People’s Court |
Suzhou Qinglizi New Energy Technology Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Suzhou Qinglizi New Energy Technology Co., Ltd. | Suzhou Qinglizi New Energy Technology Co., Ltd. |
Defendant |  | Ganzhou, PRC, Huizhou, PRC | Ganzhou, PRC, Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 10,084 |  |
Recorded in Accrued legal expenses |  | $ 884 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Taicang District People’s Court | Taicang District People’s Court |
Yutong Bus Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff | [2] | Yutong Bus Co., Ltd.(ii) | Yutong Bus Co., Ltd.(ii) |
Defendant | [2] | Huizhou, PRC & Elong Power (Ganzhou) | Huizhou, PRC & Elong Power (Ganzhou) |
Cause of Action | [2] | Contractual Dispute | Contractual Dispute |
Status | [2] | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable | [2] |  |  |
Recorded in Accrued legal expenses | [2] | $ 449,466 |  |
Status of Subsequent Updates to the Filing Date | [2] | No change | No change |
Name of the Court | [2] | Zhengzhou Guancheng District People’s Court | Zhengzhou Guancheng District People’s Court |
Lanjun Hardware and Electrical Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Lanjun Hardware & Electrical Co., Ltd. | Lanjun Hardware & Electrical Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 2,602 |  |
Recorded in Accrued legal expenses |  |  |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Ganzhou Economic and Technological Development Zone People’s Court | Ganzhou Economic and Technological Development Zone People’s Court |
Xianning Fengdan Public Transport Holding Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff | [3] | Xianning Fengdan Public Transport Holding Co., Ltd.(iii) | Xianning Fengdan Public Transport Holding Co., Ltd.(iii) |
Defendant | [3] | Ganzhou, PRC, Huizhou, PRC | Ganzhou, PRC, Huizhou, PRC |
Cause of Action | [3] | Contractual Dispute | Contractual Dispute |
Status | [3] | Judgment effected | Judgment effected |
Recorded in Account Payable | [3] |  |  |
Recorded in Accrued legal expenses | [3] | $ 928,194 |  |
Status of Subsequent Updates to the Filing Date | [3] | No change | No change |
Name of the Court | [3] | Xianning Xianning District People’s Court | Xianning Xianning District People’s Court |
Ganzhou Gert Machinery Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Ganzhou Gert Machinery Co., Ltd. | Ganzhou Gert Machinery Co., Ltd. |
Defendant |  | Ganzhou, PRC | Ganzhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 5,054 |  |
Recorded in Accrued legal expenses |  | $ 483 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Ganzhou Economic and Technological Development Zone People’s Court | Ganzhou Economic and Technological Development Zone People’s Court |
Connet Changzhou Intelligent Technology Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Connet (Changzhou) Intelligent Technology Co., Ltd. | Connet (Changzhou) Intelligent Technology Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  |  |  |
Recorded in Accrued legal expenses |  |  |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Ganzhou Economic and Technological Development Zone People’s Court | Ganzhou Economic and Technological Development Zone People’s Court |
Xiamen Kinglong Travel Vehicle Co Ltd Lin Zhengbin Tongcheng Zhilian Shenzhen Technology Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Xiamen Kinglong Travel Vehicle Co., Ltd., Lin Zhengbin, Tongcheng Zhilian (Shenzhen) Technology Co., Ltd. | Xiamen Kinglong Travel Vehicle Co., Ltd., Lin Zhengbin, Tongcheng Zhilian (Shenzhen) Technology Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  |  |  |
Recorded in Accrued legal expenses |  | $ 40,039 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Shenzhen Intermediate People’s Court | Shenzhen Intermediate People’s Court |
Chery Wanda Guizhou Bus Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff | [4] | Chery Wanda Guizhou Bus Co., Ltd.(iv) | Chery Wanda Guizhou Bus Co., Ltd.(iv) |
Defendant | [4] | Huizhou, PRC | Huizhou, PRC |
Cause of Action | [4] | Contractual Dispute | Contractual Dispute |
Status | [4] | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable | [4] |  |  |
Recorded in Accrued legal expenses | [4] | $ 825,065 |  |
Status of Subsequent Updates to the Filing Date | [4] | No change | No change |
Name of the Court | [4] | Guiyang Huaxi District People’s Court | Guiyang Huaxi District People’s Court |
Shenzhen Yanxiangda Technology Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Shenzhen Yanxiangda Technology Co., Ltd. | Shenzhen Yanxiangda Technology Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 46,454 |  |
Recorded in Accrued legal expenses |  |  |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Pingshan District Court, Shenzhen | Pingshan District Court, Shenzhen |
Liu Yongjian Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Liu Yongjian | Liu Yongjian |
Defendant |  | Ganzhou, PRC, Huizhou, PRC | Ganzhou, PRC, Huizhou, PRC |
Cause of Action |  | Labor disputes | Labor disputes |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 408 |  |
Recorded in Accrued legal expenses |  | $ 3,522 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Ganzhou Tongcheng Hardware and Electrical Co Ltd [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Name of the Court |  | Ganzhou Economic and Technological Development Zone Labor Arbitration Committee | Ganzhou Economic and Technological Development Zone Labor Arbitration Committee |
Connet Changzhou Intelligent Technology Co Ltd One [Member] |  |  |  |
Loss Contingencies [Line Items] |  |  |  |
Plaintiff |  | Connet (Changzhou) Intelligent Technology Co., Ltd. | Connet (Changzhou) Intelligent Technology Co., Ltd. |
Defendant |  | Huizhou, PRC | Huizhou, PRC |
Cause of Action |  | Contractual Dispute | Contractual Dispute |
Status |  | Case applying for preservation | Case applying for preservation |
Recorded in Account Payable |  | $ 4,886 |  |
Recorded in Accrued legal expenses |  | $ 223 |  |
Status of Subsequent Updates to the Filing Date |  | No change | No change |
Name of the Court |  | Ganzhou Economic and Technological Development Zone People’s Court | Ganzhou Economic and Technological Development Zone People’s Court |
[1] | In April 2024, a customer of our company filed a lawsuit against Ganzhou, PRC in Gansu Province, requesting the termination of their battery purchase contract and the return of 126 undelivered battery packs (valued at $3.2 million, RMB22.7 million). According to the court judgment obtained, Ganzhou, PRC is required to return the $3.2 million (RMB22.7 million) it has already received and pay liquidated damages. Based on this judgment, the company has assessed the relevant facts and legal obligations and recognized a provision of $0.6 million (RMB2.1 million).
[2] | In December 2024, a customer of the Company filed a lawsuit against Huizhou, PRC in Henan Province, seeking reimbursement of battery repair costs. According to the court judgment obtained, Huizhou, PRC is required to pay the customer $0.4 million (RMB3.1 million) for battery replacement and other related expenses. Based on this judgment, the Company has carefully assessed the relevant facts and legal obligations and has recognized a provision of $0.4 million (RMB3.1 million) in liabilities.
[3] | In 2021, a user of the Company’s product filed a lawsuit in Xianning, Hubei Province against a Company’s customer (first defendant) and the Company (the second defendant). The Company accrued $0.9 million (RMB6.4 million) lawsuit compensation charge as of the date the consolidated financial statements are issued.
[4] | In 2022, a customer of the Company filed a lawsuit against Huizhou, PRC and Ganzhou, PRC in Guizhou Province, seeking payment for the costs associated with replacing a vehicle’s power battery. According to the court judgment obtained, Huizhou, PRC and Ganzhou, PRC must jointly pay the customer a total of $0.8 million (RMB5.7 million) for the vehicle’s power battery replacement and related expenses. Based on this effective judgment and management’s assessment of the relevant facts and legal obligations, the Company has recognized a provision of RMB5.7 million in its financial statements.

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