← Lotus Technology Inc.
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||||
| Current assets: | |||||||||||
| Cash and Cash Equivalents, at Carrying Value | $1.8m | $3.8m | $45.3m | $4.5m | $30.3m | $344.0m | $736.6m | $418.9m | $103.1m | $73.4m | |
| Accounts receivable, net | $38.1m | $39.4m | $24.3m | $68.5m | $48.2m | $26.7m | $8.7m | $99.1m | $224.9m | $151.0m | |
| Prepayments and other current assets, net | — | — | — | — | — | — | $53.1m | $92.6m | $147.1m | $189.5m | |
| Loan receivable from a related party | — | — | — | — | — | — | — | — | $269.5m | $351.5m | |
| Short-term investments | — | — | — | — | — | — | $0 | $184.2m | $88.1m | $3.6m | |
| Notes receivable | $4.7m | $6.1m | $4.0m | $3.1m | $4.2m | $6.3m | $10.8m | $3.7m | $1.3m | $0 | |
| Other receivables, net | $44.0m | $4.1m | $5.4m | $5.7m | $6.4m | $6.9m | $5.5m | $2.2m | $3.6m | $3.8m | |
| Prepaid expenses | $110k | $828k | $510k | $193k | $198k | $146k | $420k | $350k | $402k | $389k | |
| Long-term other receivables, net | — | — | $0 | $440k | $4k | $115k | $1.6m | $4k | $0 | — | |
| Prepaid expenses - related parties | — | — | $0 | $218k | $0 | $433k | $275k | $0 | — | — | |
| Trade accounts receivable-related party, net | — | — | $0 | $3.4m | $3.1m | $0 | — | — | — | — | |
| Long-term trade accounts receivable, net | $2.2m | $0 | $4.2m | $0 | — | — | — | — | — | — | |
| Inventory, Net | $6.3m | $2.6m | $6.8m | $1.3m | $2.0m | $3.6m | $22.7m | $265.2m | $188.6m | $121.4m | |
| Assets, Current | — | — | — | — | — | — | $823.5m | $883.7m | $1.0b | $911.1m | |
| Total current assets | $74.3m | $68.4m | $100.8m | $97.8m | $129.3m | $488.5m | $823.5m | $883.7m | $1.0b | $911.1m | |
| Long-term investments | — | — | — | — | — | — | — | — | $9.7m | $48.0m | |
| Property, Plant and Equipment, Net | $2.9m | $2.8m | $3.2m | $3.7m | $29.8m | $27.1m | $253.5m | $354.6m | $316.4m | $226.9m | |
| Intangible Assets, Net (Excluding Goodwill) | — | — | — | — | — | $6.7m | $116.4m | $116.4m | $116.5m | $116.5m | |
| Goodwill | — | — | — | — | — | $7.0m | $4.7m | $0 | — | — | |
| Operating Lease, Right-of-Use Asset | — | — | — | — | — | — | $158.7m | $173.1m | $144.0m | $118.8m | |
| Operating lease right-of-use assets | — | — | — | $0 | $2.5m | $7.9m | $158.7m | $173.1m | $144.0m | $118.8m | |
| Operating lease right-of-use assets, net (including ¥1,769,840 and ¥696,851($97,277) from a related party as of June 30, 2024 and June 30, 2025, respectively) | — | — | — | — | — | — | — | $2.7m | $23.5m | $19.0m | |
| Additional Financial Items | |||||||||||
| Restricted cash | — | — | — | — | — | $0 | $536k | $321k | $2.6m | $101.0m | |
| Securities pledged to an investor | — | — | — | — | — | — | — | — | $315.8m | $0 | |
| Other non-current assets | — | — | — | — | — | — | $1.1m | $53.2m | $68.1m | $79.0m | |
| Shortterm borrowings | $26.4m | $300k | $0 | — | — | — | $28.7m | $226.8m | $802.5m | $1.3b | |
| Contract liabilities - third parties | — | — | — | $120k | $3.5m | $7.7m | $7.8m | $6.2m | $8.7m | $7.5m | |
| Operating lease liabilities - third parties | — | — | — | $0 | $1.3m | $2.2m | $15.8m | $16.8m | $14.1m | $11.6m | |
| Accrued expenses and other current liabilities | — | — | — | — | — | — | $506.5m | $710.1m | $604.6m | $464.9m | |
| Share buyback forward liabilities | — | — | — | — | — | — | — | — | $117.1m | $0 | |
| Put option liabilities - third parties | — | — | — | — | — | — | — | — | $309.1m | $0 | |
| Convertible notes | — | — | — | — | — | — | $76.8m | $81.6m | $227.8m | $300.8m | |
| Operating lease liabilities | — | — | — | $0 | $1.2m | $4.8m | $99.1m | $104.0m | $79.1m | $60.7m | |
| Warrant liabilities | — | — | — | — | — | — | — | — | $3.3m | $800k | |
| Exchangeable notes | — | — | — | — | — | — | $71.8m | $75.7m | $103.0m | $128.9m | |
| Deferred income | — | — | — | — | — | — | $258.4m | $270.1m | $293.9m | $311.9m | |
| Other non-current liabilities | — | — | — | — | — | — | $17.4m | $105.0m | $116.2m | $125.9m | |
| Ordinary shares (US$0.00001 par value per share, 5,000,000,000 shares authorized as of December 31, 2025 and 2024; 707,196,733 and 694,134,038 shares issued as of December 31, 2025 and 2024, respectively; 640,672,331 and 676,826,794 shares outstanding as of December 31, 2025 and 2024, respectively) | — | — | — | — | — | — | — | — | 7k | 7k | |
| Loans to third parties-short term | — | — | $2.0m | $5.0m | $3.2m | $50.5m | $50.4m | $123.1m | $208.9m | $141.6m | |
| Purchase advances, net | $2.6m | $11.5m | $12.7m | $1.3m | $179k | $1.1m | $178k | $2.7m | $5.2m | $14.6m | |
| Contract costs, net | — | — | — | — | $31.5m | $48.8m | $33.9m | $49.6m | $48.3m | $53.5m | |
| Deferred offering cost | — | — | — | — | — | — | — | — | $0 | $2.5m | |
| Construction in progress | — | $0 | $11.8m | $21.5m | $27.2m | — | $240k | $0 | $219k | $12.0m | |
| Short-term bank loans | — | — | $0 | $2.5m | $9.5m | $15.0m | $10.0m | $12.5m | $12.4m | $11.6m | |
| Other payables | $15.6m | $3.4m | $3.3m | $2.2m | $2.6m | $9.9m | $3.5m | $8.4m | $5.1m | $9.1m | |
| Taxes payable | $756k | $685k | $432k | $2.2m | $1.1m | $1.2m | $2.2m | $1.2m | $993k | $796k | |
| Short-term borrowings - related parties | — | — | — | — | $10.2m | $12.7m | $9.0m | $20.0m | $10.0m | $10.0m | |
| Long-term borrowings - related party | — | $0 | $8.9m | $8.2m | $7.4m | $6.5m | $5.5m | $0 | $10.0m | $10.0m | |
| Warrant liability - non-current | — | — | — | — | — | $190.6m | $16.7m | $31.6m | $7k | $688 | |
| Statutory reserve | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | $4.1m | |
| Other payable- related parties | — | — | — | — | $4.5m | $2.4m | $2.2m | $2.6m | — | — | |
| Long-term borrowings - related party - current portion | — | $0 | $720k | $781k | $847k | $920k | $1,000k | — | — | — | |
| Contract liabilities - non-current | — | — | — | — | — | — | $106k | $0 | — | — | |
| Land use right, net | — | $0 | $1.3m | $1.3m | $1.3m | $1.3m | $1.2m | — | — | — | |
| Investment in unconsolidated entity | — | — | $0 | $31.1m | $31.5m | $27.9m | — | — | — | — | |
| Investment payable | — | — | $0 | $6.4m | $6.4m | — | — | — | — | — | |
| Contract assets, net | — | — | $0 | $4.6m | $31.5m | — | — | — | — | — | |
| Prepayments for construction in progress | — | $0 | $474k | $1.1m | $0 | — | — | — | — | — | |
| Deferred revenue | $407k | $1.3m | $85k | — | — | — | — | — | — | — | |
| Total non-current assets | — | — | — | — | — | — | $548.5m | $701.0m | $1.2b | $1.0b | |
| Total noncurrent liabilities | — | — | — | — | — | — | $523.7m | $654.6m | $678.5m | $884.9m | |
| Total shareholders' deficit attributable to ordinary shareholders | $41.4m | $33.2m | $76.0m | $95.6m | $110.0m | $295.1m | ($452.4m) | ($1.2b) | ($852.9m) | ($1.3b) | |
| Total shareholders' deficit | $49.6m | $41.7m | $86.9m | $106.7m | $120.6m | $287.5m | ($453.0m) | ($1.2b) | ($860.2m) | ($1.3b) | |
| Assets | $79.5m | $71.2m | $121.8m | $157.0m | $194.4m | $566.5m | $1.4b | $1.6b | $2.3b | $2.0b | |
| LIABILITIES AND EQUITY | |||||||||||
| Current liabilities: | |||||||||||
| Long-term Debt, Current Maturities | — | — | — | — | — | — | — | $378.6m | — | — | |
| Long-term Debt, Excluding Current Maturities | — | — | — | — | — | — | $427.1m | $75.7m | $103.0m | $128.9m | |
| Accounts payable | — | — | — | — | — | — | $7.2m | $360.5m | $472.2m | $513.2m | |
| Accrued payroll and employees' welfare | $381k | $2.0m | $600k | $1.4m | $1.9m | $2.0m | $2.3m | $2.4m | $3.2m | $3.2m | |
| Trade accounts payable | $7.5m | $8.4m | $8.8m | $14.1m | $23.0m | $22.0m | $16.7m | — | — | — | |
| Liabilities, Current | — | — | — | — | — | — | $932.9m | $1.8b | $2.5b | $2.4b | |
| Total current liabilities | $29.9m | $29.4m | $26.0m | $42.1m | $65.2m | $76.5m | $932.9m | $1.8b | $2.5b | $2.4b | |
| Deferred Income Tax Liabilities, Net | — | — | — | — | — | — | $126k | — | — | $698k | |
| Deferred tax liability | — | — | — | — | $0 | $624k | — | — | — | — | |
| Deferred Tax Liabilities, Net | — | — | — | — | — | $624k | $126k | — | $0 | $698k | |
| Liabilities | — | $29.4m | $34.9m | $50.3m | $73.8m | $279.0m | $1.5b | $2.4b | $3.1b | $3.3b | |
| Total liabilities and shareholders' deficit | $79.5m | $71.2m | $121.8m | $157.0m | $194.4m | $566.5m | $1.4b | $1.6b | $2.3b | $2.0b | |
| Stockholders’ equity: | |||||||||||
| Common Stock, Value, Issued | — | — | — | — | — | — | $21k | $21k | $7k | $7k | |
| Additional Paid in Capital | $100.6m | $123.4m | $207.5m | $250.6m | $282.5m | $479.5m | $403.1m | $358.2m | $1.8b | $1.9b | |
| Retained Earnings (Accumulated Deficit) | ($63.9m) | ($95.4m) | ($139.4m) | ($164.8m) | ($184.0m) | ($206.9m) | ($846.8m) | ($1.6b) | ($2.7b) | ($3.2b) | |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | ($219k) | ($249k) | $1.5m | $2.9m | $2.8m | $2.0m | $17.7m | $25.3m | $55.2m | $39.8m | |
| Treasury Stock, Common, Value | — | — | — | — | — | — | — | — | — | $138.4m | |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | ($138.4m) | |
| Stockholders' Equity Attributable to Parent | — | — | — | — | — | — | ($452.4m) | ($1.2b) | ($852.9m) | ($1.3b) | |
| Stockholders' Equity Attributable to Noncontrolling Interest | — | — | — | — | — | — | ($642k) | ($5.4m) | ($7.4m) | ($7.7m) | |
| Noncontrolling interests | $8.2m | $8.5m | $10.9m | $11.1m | $10.6m | ($7.6m) | ($642k) | ($5.4m) | ($7.4m) | ($7.7m) | |
| Liabilities and Equity | — | — | — | — | — | — | $1.4b | $1.6b | $2.3b | $2.0b |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.