E-Power Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsE-Power Inc. is a Cayman Islands holding company that operates a China-based variable interest entity (VIE) providing information technology and related services under the Shidonghui APP and affiliated entities, with Class A shares listed on Nasdaq under EPOW.
What they do
E-Power Inc. is a holding company incorporated in the Cayman Islands with no material operations of its own. Its operations are conducted through a variable interest entity, Global Mentor Board (Zibo) Information Technology Co., Ltd. (SDH), and multiple subsidiaries in China, including GMB (Hangzhou), GMB (Beijing) (51% owned), GMB Culture (51% owned), and GMB Consulting (51% owned). The company also owns 71% of Alchemistica Inc., a Delaware corporation. The business appears to center on information technology and cultural media services delivered through the Shidonghui APP and related entities.
Revenue drivers
- Shidonghui APP and related services — Revenue is generated through the Shidonghui APP and affiliated entities, though the filing excerpts do not disaggregate specific product lines or their relative size.
- VIE and subsidiary operations — Substantially all revenue is derived from the VIE and its subsidiaries, which include GMB (Hangzhou), GMB (Beijing), GMB Culture, and GMB Consulting; no single segment's contribution is quantified in the provided excerpts.
Recent performance
Revenue was $65.0M in 2024 but declined to $46.4M in 2025. Net loss was $16.6M in 2025, following a loss of $11.8M in 2024. Diluted EPS was -$0.57 in 2025. Operating cash flow was -$25.2M in 2025, a significant outflow compared to -$5.4M in 2024. At December 31, 2025, total assets were $156.4M, total liabilities were $140.5M, and shareholder equity was -$12.1M, with cash of $21.8M and long-term debt of $39.6M.
Strategy
The provided excerpts do not describe specific strategic initiatives, investments, or priorities beyond the corporate structure and the existence of the Shidonghui APP.
Risks
- VIE structure risk — The company operates through a VIE in China, and investors in Class A shares do not own equity in the VIE, relying instead on contractual arrangements that may be less effective than direct ownership.
- Negative shareholder equity — At December 31, 2025, shareholder equity was -$12.1M, indicating liabilities exceeded assets.
- Revenue decline — Annual revenue fell from $65.0M in 2024 to $46.4M in 2025, a 28.6% decrease.
- Operating cash burn — Operating cash flow was -$25.2M in 2025, a substantial increase in cash usage compared to -$5.4M in 2024.
Outlook
The provided filings do not include management's forward-looking guidance or specific outlook statements.