Microvast Holdings Inc
For the period ended Mar 31, 2025. Filed May 12, 2025.
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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.
Mar 31, 2025 · Filed May 12, 2025
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 Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net profit/(loss) | $61,790 | $(24,825) |
| Adjustments to reconcile net profit/(loss) to net cash used in operating activities: | ||
| Loss/(gain) on disposal of property, plant and equipment | 95 | (34) |
| Gain on debt restructuring | (389) | — |
| Depreciation of property, plant and equipment | 7,985 | 7,470 |
| Amortization of land use right and intangible assets | 192 | 194 |
| Noncash lease expenses | 666 | 664 |
| Share-based compensation | 703 | 11,865 |
| Changes in fair value of warrant and convertible loan | (43,160) | (42) |
| Allowance of credit losses | 1,358 | 578 |
| Product warranty | 4,825 | 3,269 |
| Changes in operating assets and liabilities: | ||
| Notes receivable | (5,263) | 10,577 |
| Accounts receivable | (14,108) | 12,011 |
| Inventories | 15,783 | 16,341 |
| Prepaid expenses and other current assets | (2,402) | 4,305 |
| Amounts due to related parties | (5) | — |
| Operating lease right-of-use assets | (654) | (323) |
| Other non-current assets | (1,388) | (275) |
| Notes payable | (4,150) | 1,042 |
| Accounts payable | (8,547) | (27,843) |
| Advance from customers | 462 | (1,694) |
| Accrued expenses and other liabilities | (6,812) | (10,623) |
| Operating lease liabilities | (340) | (500) |
| Other non-current liabilities | 528 | (126) |
| Net cash generated from operating activities | 7,169 | 2,031 |
| Cash flows from investing activities | ||
| Purchases of property, plant and equipment | (2,346) | (10,241) |
| Proceeds on disposal of property, plant and equipment | 14 | 152 |
| Proceeds from maturity of short-term investments | — | 5,564 |
| Net cash used in investing activities | (2,332) | (4,525) |
| Cash flows from financing activities | ||
| Proceeds from borrowings | 28,187 | 18,780 |
| Repayment of bank borrowings | (13,062) | (12,520) |
| Repayment of bonds payable | (1,375) | — |
| Deferred payment related to purchases of property, plant and equipment | (4,287) | — |
| Net cash generated from financing activities | 9,463 | 6,260 |
| Effect of exchange rate changes | (907) | (5,251) |
| Increase/ (decrease) in cash, cash equivalents and restricted cash | 13,393 | (1,485) |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - continued
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash, cash equivalents and restricted cash at beginning of the period | 109,601 | 88,189 |
| Cash, cash equivalents and restricted cash at end of the period | $122,994 | $86,704 |
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Reconciliation to amounts on unaudited condensed consolidated balance sheets | ||
| Cash and cash equivalents | $90,898 | $39,451 |
| Restricted cash | 32,096 | 47,253 |
| Total cash, cash equivalents and restricted cash | $122,994 | $86,704 |
| Non-cash investing and financing activities | ||
|---|---|---|
| Payable for purchase of property, plant and equipment | $51,960 | $92,817 |
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