Solidion Technology Inc. Reports Q2 2025 Financial Results with Increased Net Sales and Operating Loss

Solidion Technology Inc., formerly known as Nubia Brand International Corp., reported its financial results for the second quarter of 2025, following its merger with Honeycomb Battery Company on February 2, 2024. The company generated net sales of $4,000 for the three months ended June 30, 2025, marking a significant increase from zero revenue in the same period last year. The gross profit for the quarter was $1,673, while operating expenses totaled $1,788,797, resulting in an operating loss of $1,787,124. However, the company reported a net income of $146,791, a stark contrast to the net income of $22,018,416 recorded in the previous year, which was largely driven by non-cash gains from changes in the fair value of derivative liabilities.

In comparison to the previous fiscal period, Solidion's operating expenses decreased by approximately 39% from $2,933,309 in Q2 2024 to $1,788,797 in Q2 2025. This reduction was attributed to lower selling, general, and administrative expenses, including cuts in professional fees and stock-based compensation. For the first half of 2025, the company reported a net income of $9,341,421, which included a significant gain of $14,461,950 from the change in the fair value of derivative liabilities, compared to a net loss of $10,517,566 for the same period in 2024.

Strategically, Solidion has focused on expanding its product offerings and enhancing its operational capabilities. The company is dedicated to the development of advanced battery technologies, including silicon-rich anode materials and solid-state battery solutions. Solidion holds over 525 active patents globally, positioning itself as a leader in the battery technology sector. The company has also established partnerships with industry players to advance the commercialization of its products. Notably, Solidion's high-energy cylindrical cell has achieved an energy density of 305 Wh/kg, significantly higher than conventional lithium-ion batteries.

Operationally, Solidion's cash position has seen a decline, with cash and cash equivalents dropping to $114,652 as of June 30, 2025, from $3,353,732 at the end of 2024. The company reported net cash used in operating activities of $3,255,997 for the first half of 2025, reflecting ongoing investments in research and development. The company continues to face challenges related to liquidity, as it has incurred significant losses since its inception and has generated minimal sales. Solidion is actively seeking additional capital to sustain its operations and meet its financial obligations.

Looking ahead, Solidion anticipates continued investment in its research and development efforts, with plans to scale its manufacturing capabilities and optimize supply chain sustainability. The company is also exploring opportunities for equity financing and government grants to support its growth strategy. However, management has expressed concerns regarding its ability to continue as a going concern, given its accumulated deficit of $106,539,088 and ongoing operational losses. The company is committed to addressing these challenges while advancing its innovative battery technologies.