Brilliant N.E.V. Corp. Reports No Revenue and $2,026 Net Loss for Fiscal Year Ending July 31, 2025

Brilliant N.E.V. Corp., formerly known as Clancy Corp., reported no operating revenue for the fiscal year ending July 31, 2025, maintaining its status as a shell company. The company recorded a net loss of $2,026, a significant decrease from the $35,871 loss reported in the previous fiscal year. This reduction in losses was primarily attributed to lower public company compliance and administrative expenses. As of July 31, 2025, the company had cash reserves of $5,748, down from $7,972 a year earlier, reflecting limited operational activity and reliance on related-party funding.

The company underwent a significant change in control on June 26, 2023, when approximately 52.056% of its outstanding common stock was transferred to Guangzhe Su. Following this change, Brilliant N.E.V. Corp. ceased operations of its China-based subsidiaries, Shanghai Clancy and Beijing Clancy, and subsequently transferred all rights and interests in these entities to Hongshan Yuanda Limited. The name change to Brilliant N.E.V. Corp. was formalized on July 28, 2023, as part of its strategic shift. As of the end of the reporting period, the company had not initiated any new business operations.

Operationally, the company reported no full-time employees as of July 31, 2025, relying instead on its officers and external professionals for management functions. The company’s principal executive office remains in Hangzhou, China, although it no longer has active subsidiaries in the region. The total number of outstanding shares remained at 153,105,464, with no new shares issued during the fiscal year. The company had eight holders of record for its common stock as of January 31, 2026.

Brilliant N.E.V. Corp. faces substantial doubt regarding its ability to continue as a going concern, as indicated by its independent auditors. The company has historically depended on related-party support to fund its operations, and there is no assurance that such funding will be available in the future. Management is focused on preserving its reporting status while exploring potential business opportunities and strategic transactions, although the likelihood of successfully identifying or completing a suitable transaction remains uncertain.

Looking ahead, the company’s ability to raise additional capital and reduce expenses will be critical for its survival. Management has expressed intentions to pursue suitable business combinations or acquisitions, but the lack of active operations and financial resources poses significant challenges. The company’s financial statements have been prepared under the assumption that it will continue as a going concern, but the ongoing lack of revenue and operational activity raises concerns about its future viability.