LOBO

WUXI, China, April 29, 2026 (GLOBE NEWSWIRE) -- LOBO TECHNOLOGIES LTD. (Nasdaq: LOBO) (“LOBO” or the “Company”), an innovative electric mobility vehicles manufacturer and seller, today announced its financial results for the fiscal year ended December 31, 2025. Mr. Huajian Xu, Chief Executive Officer of LOBO, commented, “Fiscal year 2025 represents a year of steady progress alongside significant investment to support future expansion. Our 9.6% revenue growth, driven by strong double-digit growth in our core products—e-bicycles and e-tricycles—contributed to a 26.0% increase in gross profit and a stable gross margin at 13.14%, providing a solid foundation for expanded research and development (R&D) in new technologies and innovations. During fiscal 2025, the Company invested $3.74 million in research and development, representing a year-over-year doubling of R&D spending and accounting for 16.11% of total revenue, a significant rise from 7.85% in fiscal 2024. This substantial and elevated investment underscores our “Four-New” strategic focus on new markets, new products, new materials, and new designs, as well as our commitment to new product development, continuous optimization, and ongoing exploration of new technologies. These next-generation capabilities are designed to elevate product performance, enhance user experience, strengthen market differentiation, and build a durable technical moat as the industry accelerates toward intelligent mobility. Through continued investment in research, we are enhancing our ability to diversify our product portfolio and strengthen a resilient supply chain, positioning ourselves to navigate market changes, capture emerging opportunities, and expand into new segments and regions. At the same time, our international sales network expanded significantly over the past year, reaching 150 dealers across approximately 60 countries, up from 50 dealers in fiscal year 2024. This milestone underscores our execution capabilities and validates the effectiveness of our global expansion strategy. Meanwhile, our gross margin expanded year-over-year to 13.14%, reflecting improving operational efficiency, optimized product mix, and tighter cost controls. Compared with major domestic peers, we maintain a clear trajectory of margin improvement underpinned by our intelligent product strategy and lean supply chain management. Backed by artificial intelligence empowerment, a foreign trade-focused business model, and strategic deployment of high-margin niche products, the Company maintains a distinct advantage in the pace of profit recovery. Our consistent improvement in gross profit, margin quality, and operating efficiency demonstrates the strengthening fundamentals of our business, accelerating our path to sustainable profitability while building lasting competitive advantages and enhancing investor confidence in our long-term value. Looking ahead, we remain committed to disciplined execution and innovation to deliver sustainable value for our shareholders.” Fiscal Year 2025 Financial Highlights Revenues were $23.2 million in fiscal year 2025, an increase of 9.6% from $21.2 million in fiscal year 2024. Gross profit was $3.1 million in fiscal year 2025, an increase of 26.0% from $2.5 million in fiscal year 2024. Gross profit margin was 13.0% in fiscal year 2025, compared to 12.0% in fiscal year 2024. Net loss was $5.5 million in fiscal year 2025, compared to $0.8 million in fiscal year 2024. Basic and diluted loss per share were $0.52 in fiscal year 2025, compared to $0.11 in fiscal year 2024. Fiscal Year 2025 Financial Results Revenues Revenues were $23.2 million in fiscal year 2025, an increase of 9.6% from $21.2 million in fiscal year 2024. The increase in revenues was primarily driven by the increase in electric vehicles and accessories sales. Revenue from two-wheeled e-bicycles was $13.1 million in fiscal year 2025, an increase of 23.6% from $10.6 million in fiscal year 2024. Revenue from two-wheeled e-mopeds was $37,111 in fiscal year 2025, a decrease of 86.1% from $266,962 in fiscal year 2024. Revenue from three-wheeled electric vehicles was $6.0 million in fiscal year 2025, an increase of 42.2% from $4.2 million in fiscal year 2024. Revenue from four-wheeled electric off-highway shuttles was $0.8 million in fiscal year 2025, an increase of 27.5% from $0.6 million in fiscal year 2024. Revenue from parts and accessories was $0.5 million in fiscal year 2025, a decrease of 57.8% from $1.2 million in fiscal year 2024. Cost of Revenues Cost of revenue was $20.1 million in fiscal year 2025, an increase of 7.4% from $18.7 million in fiscal year 2024. The percentage increase in cost of revenue was consistent with the 10.0% increase in revenues. Gross Profit Gross profit was $3.1 million in fiscal year 2025, an increase of 26.0% from $2.5 million in fiscal year 2024. Operating Expenses Total operating expenses were $7.1 million in fiscal year 2025, an increase of 62.5% from $4.4 million in fiscal year 2024. Selling and marketing expenses were $691,174 in fiscal year 2025, a decrease from $716,021 in fiscal year 2024. General and administrative expenses were $2.7 million in fiscal year 2025, an increase from $2.0 million in fiscal year 2024. The general and administrative expenses increased primarily due to the costs related to being a public company, including audit fees and consulting fees. Research and development expenses were $3.7 million in fiscal year 2025, an increase from $1.7 million in fiscal year 2024. Net Loss Net loss was $5.5 million in fiscal year 2025, compared to $0.8 million in fiscal year 2024. Basic and Diluted Loss per Share Basic and diluted loss per share were $0.52 in fiscal year 2025, compared to $0.11 in fiscal year 2024. Financial Condition As of December 31, 2025, the Company had cash and cash equivalents of $0.9 million, compared to $1.4 million as of December 31, 2024. Net cash used in operating activities was $1.7 million in fiscal year 2025, compared to $2.9 million in fiscal year 2024. Net cash used in investing activities was $0.7 million in fiscal year 2025, compared to $0.3 million in fiscal year 2024. Net cash provided by financing activities was $1.4 million in fiscal year 2025, compared to $4.6 million in fiscal year 2024. About LOBO TECHNOLOGIES LTD. LOBO TECHNOLOGIES LTD. (NASDAQ: LOBO) is a manufacturer of electric mobility products. As a technology-driven company, LOBO focuses on the development and production of environmentally friendly mobility solutions and smart devices. Its product portfolio includes electric bicycles, electric motorcycles, electric tricycles, electric off-road vehicles (such as golf carts and mobility scooters), solar-powered vehicles, and other intelligent products. LOBO is committed to promoting sustainable transportation through advanced technologies, with the goal of reducing carbon emissions and improving energy efficiency. For more information, please visit: www.loboebike.com. Forward-Looking Statements This announcement contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can find many (but not all) of these statements by the use of words such as "approximates," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or other similar expressions in this announcement. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's annual report for the fiscal year ended December 31, 2025 filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 28, 2026, and other filings with the SEC. For more information, please contact: LOBO TECHNOLOGIES LTD. Zane Xu Investor Relations Manager Email: [email protected] Ascent Investor Relations LLC Tina Xiao Tel: +1-646-932-7242 Email: [email protected] The Pre-delivery of 850,000 ordinary shares were not considered outstanding as of December 31, 2024.

WUXI, China, April 29, 2025 (GLOBE NEWSWIRE) -- LOBO EV Technologies Ltd. (NASDAQ: LOBO) ("LOBO" or the "Company"), a leading provider of electric two-wheelers, electric tricycles, and off-highway electric carts, today announced its audited financial results for the fiscal year ended December 31, 2024, and provided an update on key strategic initiatives. Financial Highlights for Fiscal Year 2024: Revenue: $21.2 million, an increase of 36.9% compared to $15.5 million in fiscal year 2023. Gross Profit: $2.5 million, an increase of 11.2% from $2.2 million in fiscal year 2023. Net Loss: $(845,841), compared to a net income of $986,471 in fiscal year 2023. Cash and Cash Equivalents:$1.4 million as of December 31, 2024. Total Assets: $24.0 million, up 22.0% from $19.7 million as of December 31, 2023. Shareholders’ Equity: $9.3 million, an increase of 64.9% compared to $5.7 million at the end of 2023. Ordinary Shares Outstanding: 7,780,000 as of December 31, 2024. CEO Commentary: Huajian Xu, CEO of LOBO, commented, “Fiscal year 2024 was a transformational year for LOBO EV Technologies. We strategically expanded our product portfolio and distribution networks internationally. Despite near-term pressure on profitability due to operational expansion and public company transition costs, our top-line growth reflects the strength of our brand and market positioning. We remain committed to driving innovation, enhancing operational excellence, and delivering sustainable value creation for our shareholders.” "We are also proud to announce our strategic steps and penetration efforts to enter the rapidly growing market in Africa, Latin America and middle Asia countries. These business activities mark our ambitious in our mission to expand globally and deliver sustainable, eco-friendly, affordable mobility solutions to new markets and dedicate to the prosperous development of green economy." Business Highlights for Fiscal Year 2024: Product Innovation and Expansion Expanded Portfolio: Introduced hundreds of new e-bicycles, e-mopeds, e-tricycles, and off-highway electric carts to meet evolving consumer preferences. Enhanced R&D Investments: Research and development expenses surged by over 500% year-over-year, reflecting LOBO’s commitment to technological leadership. Dealer Network and Market Expansion International Reach: Expanded to over 50 international dealers, establishing foundations in ASEAN, Latin America, Eastern Europe, Middle Asia and North America. Brazil, Peru, Ukraine, Lithuania, Serbia, Kazakhstan, Tanzania, Nigeria are our critical nations and fulcrums for our distribution and market penetrations in the regional market Outlook for Fiscal Year 2025: LOBO plans to: Launch innovative AI-powered EV models to strengthen its mobility portfolio; Strengthen operational controls and regulatory compliance with U.S. GAAP and SEC standards; Further penetrate international markets, particularly in Latin America and Africa as well as Southeast Asia, through strategic dealer partnerships and market-specific product launches, even building factories locally; Continue investing in R&D to sustain technological leadership across the global electric mobility sector. About LOBO EV Technologies Ltd. LOBO EV Technologies Ltd. (Nasdaq: LOBO) is an innovative designer, developer, manufacturer, and seller of e-bicycles, e-mopeds, e-tricycles, and electric off-highway four-wheeled shuttles. The Company also specializes in AI-powered multimedia interactive systems and is expanding into medical technology manufacturing. By leveraging cutting-edge AI, connectivity, and automation, LOBO aims to provide intelligent, efficient, and secure mobility and healthcare solutions. For more information, visit: https://www.loboebike.com and https://loboev.io. Safe Harbor Statement This press release contains forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on the Company’s current expectations and assumptions and are subject to risks and uncertainties. Actual results may differ due to regulatory approvals, market conditions, and other factors detailed in the Company’s filings with the U.S. Securities and Exchange Commission (SEC). LOBO undertakes no obligation to update these forward-looking statements unless required by law. For Investor and Media Inquiries, Please Contact: HORIZON IR Michael Wei Email: [email protected]