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Smart Powerr Corp. (CREG-9.09%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing a net loss of $1,559,012 compared to a net loss of $746,786 in the previous year. The increase in net loss is attributed to higher operating expenses and a bad debt provision.
Operating expenses for the year were $1,093,468, up from $798,473 in the previous year, primarily due to increased stock compensation and legal service fees.
The company reported no revenue for the year, consistent with the previous year, as it is transitioning into an energy storage integrated solution provider.
Smart Powerr Corp. maintains a working capital of $108.02 million as of December 31, 2024, with a current ratio of 9.25:1 and a liability-to-equity ratio of 0.16:1.
The company has $55,660,131 in short-term loan receivables and $65,214,994 in advance to suppliers as of the end of the fiscal year.
Smart Powerr Corp.'s operations are primarily conducted through its subsidiaries in China, focusing on energy saving solutions and services.
The company is exploring opportunities in energy storage technologies for sectors with high growth potential, including industrial complexes and large-scale photovoltaic and wind power stations.
The filing also details various legal proceedings, including a lawsuit with Beijing Hongyuan Recycling Energy Investment Center, which resulted in a judgment enforcement procedure.
Smart Powerr Corp. plans to continue its transformation into an energy storage integrated solution provider, leveraging its existing assets and exploring new market opportunities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Smart Powerr Corp. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.