Microvast Holdings Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
MVST$0.22-64.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Unaudited Condensed Consolidated Balance Sheets
| September 30,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $63,585 | $44,541 |
| Restricted cash, current | 40,361 | 37,477 |
| Short-term investments | — | 5,634 |
| Accounts receivable (net of allowance for credit losses of $3,832 and $4,571 as of September 30, 2024 and December 31, 2023, respectively) | 121,539 | 138,717 |
| Notes receivable | 10,937 | 23,736 |
| Inventories, net | 157,769 | 149,749 |
| Prepaid expenses and other current assets | 23,483 | 25,752 |
| Held-for-sale assets | 19,897 | — |
| Total Current Assets | 437,571 | 425,606 |
| Restricted cash, non-current | 11,021 | 6,171 |
| Property, plant and equipment, net | 527,160 | 620,667 |
| Land use rights, net | 11,902 | 11,984 |
| Acquired intangible assets, net | 2,788 | 3,136 |
| Operating lease right-of-use assets | 19,468 | 19,507 |
| Other non-current assets | 11,090 | 9,661 |
| Total Assets | $1,021,000 | $1,096,732 |
| Liabilities | ||
| Current liabilities: | ||
| Accounts payable | $65,589 | $112,618 |
| Notes payable | 56,314 | 63,374 |
| Accrued expenses and other current liabilities | 104,202 | 148,284 |
| Advance from customers | 42,950 | 43,087 |
| Short-term bank borrowings | 66,177 | 35,392 |
| Income tax payables | 656 | 655 |
| Total Current Liabilities | 335,888 | 403,410 |
| Long-term bonds payable | 43,157 | 43,157 |
| Long-term bank borrowings | 53,397 | 43,761 |
| Warrant liability | 1 | 67 |
| Share-based compensation liability | 119 | 199 |
| Operating lease liabilities | 16,326 | 17,087 |
| Convertible loan with shareholder measured at fair value | 24,423 | — |
| Other non-current liabilities | 38,486 | 24,861 |
| Total Liabilities | $511,797 | $532,542 |
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - continued
| September 30,2024 | December 31,2023 | |
|---|---|---|
| Commitments and contingencies (Note 16) | ||
| Shareholders’ Equity | ||
| Common Stock (par value of US$0.0001 per share, 750,000,000 and 750,000,000 shares authorized as of September 30, 2024 and December 31, 2023; 323,815,298 and 316,694,442 shares issued, and 322,127,798 and 315,006,942 shares outstanding as of September 30, 2024 and December 31, 2023) | $33 | $32 |
| Additional paid-in capital | 1,512,410 | 1,481,241 |
| Statutory reserves | 6,032 | 6,032 |
| Accumulated deficit | (987,520) | (897,501) |
| Accumulated other comprehensive loss | (21,752) | (25,614) |
| Total Equity | $509,203 | $564,190 |
| Total Liabilities and Equity | $1,021,000 | $1,096,732 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.