EZGO

CHANGZHOU, China, July 1, 2025 /PRNewswire/ -- EZGO Technologies Ltd. (Nasdaq: EZGO) ("EZGO" or "we", "our", or the "Company"), a leading short-distance transportation solutions provider in China, today announced its unaudited financial results for the six months ended March 31, 2025. Financial Highlights (all results compared to the prior fiscal year period unless otherwise noted) Gross margin from continuing operations increased to 10.2% in first half year of 2025, compared with 8.9% in first half year in 2024 and gross profit increased 10.3% to $671,468 in first half year of 2025. Net loss significantly decreased from $4.7 million in the first half year in 2024 to $1.3 million in the first half year of 2025. Cash and cash equivalents was approximately $3.4 million and $0.4 and million as of September 30, 2024 and March 31, 2025, respectively. Management Commentary While we are suffering recurring net loss, we successfully boosted our gross profit and narrowed our net losses from $4.7 million in the first half year of 2024 to $1.3 million in the first half year of 2025. During the six months ending on March 31, 2025, the revenue from sales of battery cells and packs slightly decreased mainly due to the tense competition in lead-acid battery market, and we are trying to promote other types of battery cells and packs sales, such as lithium battery and energy storage battery. We're leveraging maintenance service growth to compensate for lower electronic control system sales. Looking ahead, we are strategically shifting resources away from underperforming areas. After careful consideration, we decided to dispose of our e-bicycle business, which had been facing intense market competition and declining sales. We're intensifying our focus on high-value services and lithium battery technology while optimizing our cost structure. Market competition remains intense, but our streamlined portfolio and efficiency gains position us to capitalize on recovery opportunities. Financial Review for the Six Months Ended March 31, 2025 Net Revenues from continuing operations Net revenues from continuing operations for the six months ended March 31, 2025 were approximately $6.6 million, a 3.5% decrease from approximately $6.8 million for the six months ended March 31, 2024. The decrease in revenues was mainly driven by the decrease in sales of cells and packs and sales of electr...