Thunder Power Holdings, Inc.

AIEV: 10-Q · periodic report

Thunder Power Holdings reported zero revenue and a net loss of $925,075 for the six months ended June 30, 2026, with just $11,649 in cash on hand. The filing raises substantial doubt about the company's ability to continue as a going concern. The company was delisted from Nasdaq on July 31, 2025 and now trades over-the-counter, severely limiting its access to public capital markets. On May 29, 2026, it granted related-party lenders Mr. and Ms. Sham a first-priority security interest over substantially all assets — including a $13.1 million forward-purchase prepayment — and pledged 100% of its subsidiary TP NEV. In April 2026, Thunder Power acquired 31.68% of Taiwan's Electric Power Technology (EPT) via share exchange, issuing 31,872,768 shares (~31% dilution) and recording an equity-method investment of ~$5.7 million that exceeds its share of EPT's net assets by more than 2.5x. Management recorded no impairment, but flagged that a different conclusion could produce a material future charge. The company is defending litigation from Sam Yu and faces a D. Boral Capital summary-judgment motion seeking $1,310,625, to which it filed no opposition. It remains dependent on ongoing financial support from its principal shareholder, whose own legal proceedings add uncertainty to that support.

SEC 10-Q•12d ago

AIEV: 10-K/A · amendment

Thunder Power Holdings (AIEV) filed Amendment No. 1 to its Form 10-K for the fiscal year ended December 31, 2025, substantially expanding Item 1A risk factor disclosures. The pre-revenue electric vehicle developer reported net losses of $2.12 million in FY2025 and $2.50 million in FY2024, has never generated revenue from product sales, and states it has not produced a single electric vehicle. The amendment discloses a material weakness in internal control over financial reporting and states the company needs additional financing beyond its business combination proceeds to continue operations, warning that a lack of funds could cause the business to fail and liquidate. Controlling shareholder and former CEO Wellen Sham faces criminal prosecution in Taiwan on 11 indictments involving securities violations and breaches of fiduciary duty, alongside civil actions by Taiwan's Securities Investor and Futures Trader Protection Center seeking damages and his removal as chairman of a related company. The company's business model depends on IP and technology licenses from affiliates that have not yet been secured, its shares now trade on the OTCQB after ceasing to be listed on Nasdaq, and HFCAA trading restrictions remain a risk should its Singapore-based auditor become non-inspectable by the PCAOB.

SEC 10-K/A•1mo ago

AIEV: NT 10-Q · late filing

Thunder Power Holdings filed a Form 12b-25 (NT 10-Q) on August 14, 2026, notifying the SEC that it cannot timely file its Form 10-Q for the quarter ended June 30, 2026. Under Rule 12b-25(b), the company stated it expects to file the report within the five-calendar-day grace period. The delay stems from the company's April 2026 share exchange with Electric Power Technology Limited: management and its auditors need additional time to complete the consolidation of that entity and are still awaiting financial information from it. The filing also discloses that results of operations will differ significantly from the prior-year quarter because of the transaction, under which Thunder Power issued 31,872,768 shares of common stock in exchange for 26,783,838 ordinary shares of Electric Power Technology Limited. The company said it cannot yet provide a reasonable quantitative estimate of the transaction's financial impact. A late quarterly report tied to consolidation of a newly acquired business is a watch-list event, as such delays can precede broader accounting or integration problems; investors should monitor whether the report actually lands within the grace period.

SEC NT 10-Q•2mo ago

AIEV: 10-Q · periodic report

Thunder Power Holdings reported a net loss of $493,651 for the three months ended March 31, 2026, with zero revenue generated from operations. The company holds only $8,666 in cash and has an accumulated deficit of approximately $39.5 million, leading management to disclose substantial doubt about its ability to continue as a going concern. The filing reveals a material weakness in internal controls due to a lack of sufficient financial reporting personnel with appropriate U.S. GAAP knowledge. Additionally, the company was delisted from Nasdaq in July 2025 and is now quoted on the over-the-counter market, significantly limiting its access to public capital markets. Subsequent to the quarter end, the company issued 31.8 million shares in a share exchange transaction with Electric Power Technology Limited and secured $172,000 in additional promissory notes from its principal shareholder, Wellen Sham. The board also approved a re-domiciliation from Delaware to Nevada, intended to qualify as a tax-free reorganization.

SEC 10-Q•5mo ago

AIEV: NT 10-Q · late filing

Thunder Power Holdings, Inc. filed a Form 12b-25 notification on May 15, 2026, requesting a delay in filing its Form 10-Q for the quarter ended March 31, 2026. The company cites Rule 12b-25 of the Securities Exchange Act of 1934, stating that the report could not be filed without unreasonable effort or expense. CEO Christopher Nicoll signed the notification, confirming that the 10-Q will be filed within five calendar days of the original due date and that no significant change in results of operations is anticipated.

SEC NT 10-Q•5mo ago