Digital Currency X Technology Inc.

What they do

The company completed a reorganization in June 2023 and became public through a merger with Jupiter Wellness Acquisition Corp. It is divesting its legacy electric vehicle manufacturing business, operated through Chijet Inc., under an agreement entered March 18, 2026. Its new focus is DexTrader, an on-chain data and information service platform for decentralized exchange traders, and digital asset treasury management including staking.

Revenue drivers

• DexTrader platform — Launched in 2026, it provides real-time data insights and analytical tools for DEX traders and does not facilitate asset transactions; it has not yet generated any revenues.
• Digital asset treasury management — Staking activities are intended to generate yield on held digital assets; the filing describes this as a core initiative but provides no revenue figures.
• Legacy electric vehicle business — Operated through Chijet Inc.; revenue declined from $22.3M in 2021 to $6.9M in 2024, and the business is being sold, with historical results to be classified as discontinued operations.

Recent performance

Revenue fell from $22.3M in 2021 to $6.9M in 2024. Net losses were $98.5M in 2023, $69.0M in 2024, and $30.1M in 2025. Operating cash flow was negative $54.6M in 2025. At December 31, 2025, the company reported total assets of $866.7M, total liabilities of $709.2M, shareholder equity of $151.0M, and cash and equivalents of $3.9M. Diluted EPS was negative $4.22 in 2025.

Strategy

The company is eliminating its loss-making electric vehicle operation through a divestment agreement entered March 18, 2026, and refocusing resources on technology-driven business lines. Its new core initiatives are the DexTrader platform and digital asset treasury management, including staking. DexTrader is in an early operational phase focused on user acquisition and product optimization. Management identifies the successful development, user adoption, and future monetization of DexTrader as a key forward-looking matter. No revenue has been generated by the new platform as of the annual report date.

Risks

• Unproven new business — DexTrader has generated no revenues and remains in an early operational phase, so future monetization is not assured.
• Low liquidity — Cash and equivalents were only $3.9M at December 31, 2025, against liabilities of $709.2M.
• Discontinued operations — The pending sale of the electric vehicle business means historical results are being recast as discontinued operations, leaving the go-forward revenue base unclear.
• Regulatory and capital access — The company cites changes in laws or regulations and the ability to access sufficient capital as factors affecting its business.

Outlook

Management's stated direction is to complete the divestment of the electric vehicle business and pivot to DexTrader and digital asset treasury management. The company acknowledges DexTrader is in an early operational phase focused on user acquisition and product optimization. No revenue projections or specific financial guidance are provided in the excerpts. The company notes forward-looking uncertainties including regulatory changes, timing of revenue and expenditures, and access to capital.