XCH

HAMBURG, Germany and AUSTIN, Texas, Sept. 18, 2026 (GLOBE NEWSWIRE) -- XCHG Limited (“XCharge” or the “Company”) (Nasdaq: XCH), a global provider in high-power EV charging solutions, today reported its unaudited financial results for the six months ended June 30, 2026. Mr. Yifei (“Simon”) Hou, Co-Chief Executive Officer of XCharge, commented, “While customer procurement timing and changes in project schedules affected the pace of revenue and deliveries in the first half of 2026, we remained focused on executing our long-term growth strategy. We made important commercial and product progress during the period. Our long-term partnership with EnBW marked a significant commercial milestone in Europe, while the introduction of the new-generation C7 and the launch of GridOne expanded our ability to address customers’ evolving charging and energy management needs. Looking ahead, we expect business activity to accelerate meaningfully in the second half of the year as we fulfill scheduled customer deliveries and advance existing customer programs and projects. We believe the commercial progress we have made, together with our expanded product portfolio, positions us well to capture the opportunities ahead.” Mr. Joel A. Gallo, Chief Financial Officer, added, “The financing completed in June provided additional liquidity to support our operations. As we prepare for higher anticipated activity in the second half, we will continue to maintain disciplined cost and working capital management, improve operational efficiency, and allocate resources to customer programs and areas with the clearest commercial potential. Our priority is to support renewed revenue growth while continuing to improve the underlying financial performance of the business.” Outlook The Company expects business performance to improve significantly in the second half of 2026, driven primarily by scheduled deliveries under existing customer orders. The Company expects full-year 2026 revenue to be in the range of $32.9 million to $38.2 million, representing year-over-year growth of approximately 31% to 52%. This outlook reflects management’s current expectations regarding customer orders, production and delivery schedules, market conditions and other factors as of the date of this press release, and is subject to change. Operating Highlights and Recent Announcements Deliveries: Total EV charger deliveries were 262 units in the first half of 2026, representing a decrease of 44.5% year over year. This included 253 DC fast chargers, representing a decrease of 44.3%, and 9 NZS and GridLink chargers, representing a decrease of 50%. Entered the Energy Storage Market with the Launch of GridOne. In June, XCharge launched GridOne, an all-in-one photovoltaic and energy storage system for commercial and industrial applications, at ees Europe, a leading European exhibition for batteries and energy storage systems. GridOne combines 125 kW of power conversion capacity, a 215 kWh lithium iron phosphate battery and optional 50 kW photovoltaic maximum power point tracking in an integrated system designed for applications including peak shaving, solar self-consumption, EV charging load buffering and backup power. Unveiled the New Generation of the C7 DC Fast-Charging Station. In June, XCharge presented the new generation of its C7 DC fast-charging station at Power2Drive Europe. Offering charging power of up to 480 kW, the upgraded C7 is designed to provide greater reliability, scalability and serviceability across public charging, commercial fleet, retail and other high-traffic applications. Appointed Albina Iljasov as Co-Chief Executive Officer. Effective as of June 1, 2026, XCharge appointed Albina Iljasov as Co-Chief Executive Officer to serve alongside Simon Hou. Ms. Iljasov primarily oversees the Company’s European operations and related strategic initiatives and has primary responsibility for its information security and cybersecurity initiatives. Entered into a Long-Term Partnership with EnBW. In March, XCharge entered into a multi-year framework agreement with EnBW, Germany’s largest fast-charging network operator, covering the supply and joint development of fast-charging hardware and software. The partnership followed a field test involving ten XCharge C7 ultra-fast chargers across four EnBW locations, which completed more than 20,000 charging sessions. Entered into a Registered Direct Offering. In June, XCharge entered into a securities purchase agreement with a global institutional investor for the sale of 7.0 million ADSs in a registered direct offering, generating gross proceeds of approximately $4.4 million before deducting placement agent fees and estimated offering expenses. The Company intends to use the net proceeds for working capital and general corporate purposes. Implemented an ADS Ratio Change. Effective as of August 21, 2026, XCharge changed the ratio of its ADSs to its Class A ordinary shares from one ADS representing 40 Class A ordinary shares to one ADS representing 800 Class A ordinary shares. The ADS ratio change had the same effect as a one-for-20 reverse ADS split for ADS holders. The Company’s Class A ordinary shares were not affected, and its ADSs continue to trade on the Nasdaq Global Market under the symbol “XCH.” Change in Management Position. Effective as of September 7, 2026, Aatish V Patel transitioned from President of the Company to General Manager of XCharge Energy USA Inc., the Company’s wholly-owned U.S. subsidiary, to support the continued expansion of its U.S. operations. Regained Compliance with Nasdaq Minimum Bid Price Requirement. On September 8, 2026, the Company received confirmation from Nasdaq that it had regained compliance with the Minimum Bid Price Requirement and that the matter is now closed. Financial Summary for the First Half of 2026 Unless otherwise noted, the following figures refer to the first half of 2026 and comparisons are with the first half of 2025. Revenues were $10.3 million, representing a decrease of 17.5% from $12.5 million. Product revenues were $9.5 million, compared with $12.1 million, while service revenues increased to $0.8 million from $0.4 million. The decrease in revenue was primarily attributable to the timing of customer procurement decisions and project deliveries, including temporary delays beginning in late 2025 amid trade policy uncertainty and evolving renewable energy regulations. Despite the lower level of recognized revenue in the first half, order volume increased compared with the prior-year period, supporting the Company’s expectation for significantly higher revenue in the second half of 2026. Cost of revenues was $6.3 million, up 3.6% from $6.1 million, primarily reflecting higher input costs for certain components and raw materials and foreign currency exchange effects. Gross margin was 38.8%, compared with 51.3%. The decrease was primarily due to the increased proportion of lower-margin products in the sales mix. In addition, the rise in prices of precious metals such as silver and copper also increased the purchase cost of spare parts and led to an increase in cost of sales and a decrease in gross profit. The Company continues to pursue pricing, sourcing and operating initiatives intended to mitigate these cost pressures. Operating expenses were $15.2 million, up 9.2% from $13.9 million. Operating loss was $11.2 million, compared with an operating loss of $7.4 million, primarily reflecting lower gross profit resulting from lower revenue and gross margin, together with higher general and administrative and selling and marketing expenses, partially offset by lower research and development expenses. Net loss was $11.1 million, compared with a net loss of $7.3 million. Non-GAAP net loss, which excludes the effect of share-based compensation and changes in fair value of financial instruments, was $10.4 million, compared with a non-GAAP net loss of $4.6 million. Basic and diluted loss per Class A and Class B ordinary share was $0.004, compared with a loss per share of $0.003. Non-GAAP basic and diluted loss per Class A and Class B ordinary share, which excludes the effect of share-based compensation and changes in fair value of financial instruments, was $0.003, compared with a non-GAAP loss per share of $0.002. Cash and cash equivalents plus restricted cash were $11.4 million as of June 30, 2026, compared with $13.9 million as of December 31, 2025. The decrease primarily reflected cash used in operating activities, partially offset by financing activities, including proceeds from the registered direct offering completed in June 2026. The Company continues to actively manage liquidity and working capital while supporting anticipated higher business activity in the second half of the year. Use of Non-GAAP Financial Measures We consider non-GAAP net loss and non-GAAP basic and diluted loss per Class A and Class B ordinary share as supplemental measures to review and assess our operating performance. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We present these non-GAAP financial measures because they are used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of these non-GAAP measures facilitates investors’ assessment of our operating performance. These non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. These non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using these non-GAAP financial measures is that they do not reflect all items of income and expense that affect our operations. Further, these non-GAAP measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited. We compensate for these limitations by reconciling these non-GAAP financial measures to the nearest U.S. GAAP performance measures, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure. We define non-GAAP net loss as net loss excluding share-based compensation and changes in fair value of financial instruments. We define non-GAAP basic and diluted loss per Class A and Class B ordinary share as non-GAAP net loss divided by the weighted average number of Class A and Class B ordinary shares outstanding during the period. For more information on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release. Exchange Rate Information This release contains translations of certain Euro and Renminbi amounts into U.S. dollars solely for the convenience of the reader. Unless otherwise noted, translations were made at EUR0.8759 to $1.00 and RMB6.7851 to $1.00, based on the exchange rates as of June 30, 2026 published in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that any amounts could have been, or could be, converted into another currency, as the case may be, at any particular rate or at all. Safe Harbor Statement This press release contains forward-looking statements. Such statements are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “objective,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the United States Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. About XCharge XCharge (Nasdaq: XCH) is a global provider in high-power electric vehicle charging solutions. The Company has headquarters in Hamburg, Germany and Austin, TX, working with a globally networked team to drive innovation in the field of energy and help its customers achieve long-term success. For investor and media inquiries, please contact:XCHG LimitedIR DepartmentEmail: [email protected] Water Tower Research AsiaFeifei Shen, CFATel: +86 134-6656-6136Email: [email protected]

HAMBURG, Germany & AUSTIN, Texas, December 03, 2025--(BUSINESS WIRE)--XCHG Limited ("XCharge" or the "Company"), (Nasdaq: XCH), an integrated EV charging and energy solutions company, today announced the establishment of new dual global headquarters located in Hamburg, Germany, and Austin, Texas. This decision reflects a deliberate evolution in the Company’s global operating structure and supports its long-term strategy to position itself at the center of the rapidly expanding clean energy economy. XCharge’s move to a dual-headquarters model represents a significant milestone in the Company’s evolution: by anchoring itself within two of the world’s most advanced and influential clean-energy markets, XCharge is creating a stronger foundation for international growth, improved financial performance, and more resilient global operations. With more than 9,000 chargers installed worldwide—including the C6, C7, NZS, and GridLink product lines—XCharge has established a proven global footprint backed by a robust technology roadmap. The Company also holds an extensive intellectual property portfolio, with 26 design patents, 25 utility model patents, and 18 invention patents across Europe, the United States, and Asia. This new structure positions XCharge to accelerate product development, strengthen its supply chain, and deepen its partnerships with local stakeholders and investors across Europe and the United States. "Establishing headquarters in Hamburg and Austin is a strategic investment in XCharge’s future as we enter into our next phase of growth," said Simon Hou, Founder and CEO of XCharge. "These markets provide direct access to highly skilled talent pools, strong regulatory support for clean energy, and proximity to customers who require industry-leading uptime and reliability. This foundation enhances our ability to scale efficiently and collaborate more closely with strategic partners who are shaping the future of clean energy." XCharge has observed increasing demand from utilities, fleets, charging networks, and infrastructure developers who require localized engineering, service, and operational expertise. This market trend has accelerated the Company’s transition into a globally identified and globally managed organization supported by teams embedded within the regions they serve. As EV charging and battery-integrated systems become critical infrastructure, customers expect rapid deployment, high system availability, and responsive partnership. The dual-headquarters model is designed to meet those expectations. Over the past several years, XCharge has expanded its workforce across Europe and the Americas, serving clients in more than 30 countries worldwide. And with its inherent global structure and mindset—supported by staff across 23 locations who speak over 10 languages—the expansion reinforces the Company’s commitment to localized operations and mirrors the broader industry shift toward region-specific solutions. The newly designated headquarters formalize this transition and reinforce XCharge’s position within the global energy sector at a time when long-term investment in charging and energy storage continues to accelerate. The Company remains focused on scaling its technology, expanding its customer base, and delivering reliable infrastructure that supports the worldwide shift to electric transportation and decentralized energy systems. About XCharge XCharge (NASDAQ: XCH), founded in 2015, is an integrated EV charging and energy solutions company. With dual headquarters in Hamburg, Germany and Austin, Texas, the Company offers comprehensive EV charging solutions, which primarily include the DC fast chargers and the advanced battery-integrated DC fast chargers as well as its accompanying services. Through the combination of XCharge’s proprietary charging technology, energy storage system technology and accompanying services, the Company enhances EV charging efficiency and unlocks the value of energy storage and management. Committed to providing innovative and efficient EV charging solutions, XCharge is actively working toward establishing a global green future that is critical to long-term growth and development. About XCharge Europe GmbH XCharge Europe GmbH is a provider of high-power and battery-integrated charging solutions. Headquartered in Hamburg since 2017, XCharge Europe GmbH supports industry leaders with innovative charging solutions and reliable after-sales service. With the addition of a new test lab in Hamburg in 2024, alongside the new Madrid technical center, XCharge Europe GmbH reinforces its commitment to the European market, enabling rigorous product testing, tailored solutions, and the advancement of e-mobility across the region. About XCharge North America XCharge North America specializes in high-power EV charging and battery-integrated solutions tailored to the North American electrical grid. With solutions that store energy, improve grid resilience, and create new revenue streams, XCharge North America is the first scalable open-access EV charging solution designed to strengthen the country’s electrical grid and broader energy infrastructure while providing charging solutions for EVs from individual to fleet. Safe Harbor Statement This press release contains forward-looking statements. Such statements are made pursuant the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about XCHG Limited's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "objective," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in XCHG Limited’s filings with the United States Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and XCHG Limited does not undertake any duty to update such information, except as required under applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20251202902694/en/ Contacts XCharge Europe GmbH: Albina Iljasov [email protected] XCharge North America: Alex Urist, Vice President [email protected]

HAMBURG, Germany, Sept. 23, 2025 (GLOBE NEWSWIRE) -- XCHG Limited (“XCharge” or the “Company”), (Nasdaq: XCH), a global leader in integrated EV charging solutions, today announced its unaudited financial results for the six months ended June 30, 2025. Operational Highlights DC fast charger deliveries in the first six months of 2025 were 454, representing a decrease of 40.6% from 764 in the corresponding period of 2024. Total EV charger deliveries in the first six months of 2025 were 472, representing a decrease of 59.1% from 1,155 in the corresponding period of 2024. Management Remarks Mr. Yifei Hou, Chief Executive Officer of XCharge, commented, “XCharge demonstrated remarkable fortitude in the first half of 2025 while navigating a complex global landscape marked by U.S. trade policy uncertainty and evolving renewable energy regulations. Although these headwinds led some customers to temporarily defer orders, impacting short-term volumes, we remain convinced that these challenges are transient and do not reflect the powerful underlying demand for our transformative solutions. “Looking ahead, we are encouraged by a strong sales pipeline in our key markets and are excited to onboard new customers and launch groundbreaking business initiatives that will diversify our revenue streams and propel our long-term growth trajectory. To ensure we are poised for success, we have initiated a considerable cost containment program to enhance our operational efficiency and strengthen our financial profile. With our innovative technology, deep customer relationships, and exceptional team, XCharge is well-positioned to emerge from this period with even greater strength and momentum. We are confident in the enduring fundamentals of our business and our leadership position in the market. We remain dedicated to delivering unrivaled value to our customers and generating sustainable returns for our shareholders in the long-term.” Management Change The board of directors of the Company (the "Board") has approved the appointment of Mr. Joel Adalberto Gallo as the Company’s Chief Financial Officer, effective September 3, 2025. Mr. Gallo brings over 30 years of experience in accounting and corporate finance. He served as the chief financial officer of HD EDU from February 2023 to August 2025, the chief financial officer of CoinTiger from July 2022 to January 2023, the chief financial officer of ETAO International Group from March 2021 to May 2022, and the chief executive officer of Columbia China League Business Advisory Co. from November 2019 to February 2021. From April 2013 to October 2019, Mr. Gallo served as co-founder and principal of GLS Group LLC, which provided management consulting services to financial sector firms. Commenting on his appointment, Mr. Gallo said, “I am excited to join XCharge and look forward to contributing to its next stage of growth.” XCharge Launches GridLink Across Europe In September, XCharge introduced its latest charging system, GridLink, to the European market at the Intercharge Network Conference (“ICNC”) in Berlin, Germany. Following a successful launch and deployments in North America, GridLink has been fully adapted to meet EU standards. The system features a liquid-cooled thermal management system and advanced fire suppression technology, offering enhanced safety and efficiency for European customers. Financial Highlights for the First Six Months of 2025 (in USD millions, except for per ordinary share data and percentage) ___________________________________ 1 See “Use of Non-GAAP Financial Measures” and “Unaudited Reconciliation of GAAP and Non-GAAP Results” included in this release for further details. Revenues were US$12.5 million for the first six months of 2025, representing a decrease of 38.2% from US$20.1 million for the same period of 2024. Product revenues were US$12.1 million for the first six months of 2025, representing a decrease of 39.4% from US$19.9 million for the same period of 2024. The year-over-year decrease was mainly due to external policy dynamics, including trade policy turbulence and evolving renewable energy regulations. These factors led certain customers to temporarily delay procurement decisions, contributing to a softer order volume in the first half of 2025. Service revenues were US$0.4 million for the first six months of 2025, representing an increase of 87.5% from US$0.2 million for the same period of 2024. The year-over-year increase was mainly due to the increase in maintenance services revenue. Cost of revenues was US$6.1 million for the first six months of 2025, representing a decrease of 41.3% from US$10.3 million for the same period of 2024. The year-over-year decrease was largely in line with the decrease in revenue. Gross margin was 51.3% for the first six months of 2025, compared with 48.7% for the same period of 2024. Gross margins have remained stable between the first six months of 2025 and 2024. Selling and marketing expenses were US$5.2 million for the first six months of 2025, representing an increase of 18.4% from US$4.4 million for the same period of 2024. The year-over-year increase was mainly due to the increase in expenses for product promotion. Research and development expenses were US$4.1 million for the first six months of 2025, representing an increase of 88.6% from US$2.2 million for the same period of 2024. The year-over-year increase was mainly due to the increase in new product research and development costs. General and administrative expenses were US$4.6 million for the first six months of 2025, representing an increase of 39.7% from US$3.3 million for the same period of 2024. The year-over-year increase was mainly due to increases in share-based compensation for certain employees and non-employee consultants of the Group, which partially net-off by the increasing gain on foreign currency exchange. Operating loss was US$7.4 million for the first six months of 2025, compared with US$0.004 million for the same period of 2024. Net loss was US$7.3 million for the first six months of 2025, compared with US$0.2 million for the same period of 2024. Excluding share-based compensation, changes in fair value of financial instruments and gain on extinguishment of convertible debt, adjusted net loss was US$4.6 million for the first six months of 2025, compared with US$0.05 million for the same period of 2024. Net loss attributable to ordinary shareholders was US$7.3 million for the first six months of 2025, compared with US$1.0 million for the same period of 2024. Basic and diluted loss per Class A and Class B ordinary share was US$0.003 for the first six months of 2025, compared with basic and diluted loss per ordinary share of US$0.001 for the same period of 2024. Cash and cash equivalents were US$16.3 million as of June 30, 2025, compared with US$26.8 million as of December 31, 2024. About XCharge XCharge (Nasdaq: XCH), founded in 2015, is a global leader in integrated EV charging solutions. The Company offers comprehensive EV charging solutions, which primarily include the DC fast chargers and the advanced battery-integrated DC fast chargers as well as its accompanying services. Through a combination of proprietary charging technology, energy storage system technology and accompanying services, XCharge enhances EV charging efficiency and unlocks the value of energy storage and management. Committed to providing innovative and efficient EV charging solutions, XCharge is actively working toward establishing a global green future critical to the Company’s long-term growth and development. Use of Non-GAAP Financial Measures We consider adjusted net loss, a non-GAAP financial measure as a supplemental measure to review and assess our operating performance. The presentation of this non-GAAP financial measure is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP. We present this non-GAAP financial measure because it is used by our management to evaluate our operating performance and formulate business plans. We also believe that the use of this non-GAAP measure facilitates investors’ assessment of our operating performance. This non-GAAP financial measure is not defined under U.S. GAAP and is not presented in accordance with U.S. GAAP. This non-GAAP financial measure has limitations as an analytical tool. One of the key limitations of using this non-GAAP financial measure is that it does not reflect all items of income and expense that affect our operations. Further, this non-GAAP measure may differ from the non-GAAP information used by other companies, including peer companies, and therefore its comparability may be limited. We compensate for these limitations by reconciling this non-GAAP financial measures to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating our performance. We encourage you to review our financial information in its entirety and not rely on a single financial measure. We define adjusted net loss as net loss excluding share-based compensation, changes in fair value of financial instruments and gain on extinguishment of convertible debt. For more information on these non-GAAP financial measures, please see the tables captioned “Unaudited Reconciliations of GAAP and Non-GAAP Results” set forth at the end of this release. Exchange Rate Information This announcement contains translations of certain Euro amounts into U.S. dollars and RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from Euro to U.S. dollars, from U.S. dollars to Euro, from RMB to U.S. dollars and from U.S. dollars to RMB are made at EUR0.8496 to US$1.00 and RMB7.1636 to US$1.00, the exchange rates on June 30, 2025, set forth in the H.10 statistical release of the Federal Reserve Board. The Company makes no representation that any amounts that could have been, or could be, converted into another currency, as the case may be, at any particular rate or at all. Safe Harbor Statement This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Actual results may differ materially due to various factors. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law. For investor and media inquiries, please contact: XCharge IR Department Email: [email protected] Piacente Financial Communications Brandi Piacente Tel: +1-212-481-2050 Jenny Cai Tel: +86 (10) 6508-0677 Email: [email protected] Source: XCHG Limited