Thunder Power Holdings, Inc. reported its financial results for the third quarter of 2025, revealing a net loss of $428,139, a decrease from a loss of $912,317 in the same period of 2024. The company did not generate any revenue during the quarter, consistent with its performance in the previous year. For the nine months ending September 30, 2025, the net loss was $1,686,545, down from $2,474,256 in the prior year. The reduction in losses is attributed to a significant decrease in general and administrative expenses, which fell to $428,053 from $912,314 in the third quarter of 2024, primarily due to lower professional and consulting costs.
As of September 30, 2025, Thunder Power Holdings reported total assets of $13.5 million, slightly down from $13.6 million at the end of 2024. Current liabilities increased to $8.3 million from $7.0 million, driven by a rise in amounts due to related parties, which reached $3.3 million compared to $1.8 million at the end of the previous year. The company’s cash reserves decreased to $16,441 from $52,616, reflecting ongoing operational challenges and the need for additional financing.
Strategically, Thunder Power Holdings is focused on the development of its electric vehicle (EV) models, including a limited-edition coupe, a long-range sedan, a compact city car, and a long-range SUV. The company is currently in the process of a share exchange agreement with Electric Power Technology Limited, which is expected to close by October 31, 2025, subject to regulatory approvals. This move is part of the company's strategy to enhance its market position and expand its product offerings.
Despite these developments, the company faces significant challenges, including the suspension of its stock trading on Nasdaq in April 2025, which has limited its access to capital markets. Additionally, ongoing legal proceedings involving its principal shareholder introduce further uncertainty regarding future financial support. Management is exploring new financing options and evaluating potential restructuring to address these issues. The company has indicated that its ability to continue as a going concern is contingent upon securing additional financing and resolving legal matters affecting its shareholder.
Looking ahead, Thunder Power Holdings aims to leverage its proprietary technologies to enhance the driving range and reduce costs of ownership for its EVs. However, the company acknowledges that it has not yet released any commercially available vehicles and continues to incur substantial operating losses. The management's focus remains on developing its vehicle models and establishing a retail distribution network to support future sales.
About Thunder Power Holdings, Inc.
Thunder Power Holdings, Inc. designs and develops premium electric vehicles combining Italian craftsmanship with innovative proprietary technologies. Its core offerings include compact city cars, luxury sports coupes, and microcars targeting urban markets. The company focuses on sustainable mobility solutions, leveraging advanced battery, thermal, and drivetrain systems. It operates through strategic alliances, licensing, and trade activities, aiming to compete in the global EV market with a focus on design, safety, and technological innovation.
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