EX-99.2 3 weto046_ex99-2.htm EXHIBIT 99.2

 

Exhibit 99.2 

 

WEBUS INTERNATIONAL LIMITED 

 

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS 

  

(Amounts in Renminbi (“RMB”) and U.S. dollars (“US$”), except for share and per share data) 

 

 

 

As of June 30,

 

 

As of December 31,

 

 

 

2024

 

 

2024

 

 

2024

 

 

 

RMB

 

 

RMB

 

 

US$

 

ASSETS

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

2,780,907

 

 

 

3,831,871

 

 

 

524,964

 

Short-term investments

 

 

-

 

 

 

9,663,356

 

 

 

1,323,874

 

Accounts receivable

 

 

884,853

 

 

 

529,592

 

 

 

72,554

 

Amounts due from a related party

 

 

111,341

 

 

 

3,387

 

 

 

464

 

Deferred offering costs

 

 

5,350,165

 

 

 

6,084,501

 

 

 

833,573

 

Prepaid expenses and other current assets

 

 

1,783,880

 

 

 

8,435,567

 

 

 

1,155,668

 

Total current assets

 

 

10,911,146

 

 

 

28,548,274

 

 

 

3,911,097

 

 

 

 

 

 

 

 

 

 

 

Non-current assets:

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

 

33,714,952

 

 

 

32,603,469

 

 

 

4,466,657

 

Right-of-use assets

 

 

307,330

 

 

 

186,084

 

 

 

25,493

 

Total non-current assets

 

 

34,022,282

 

 

 

32,789,553

 

 

 

4,492,150

 

TOTAL ASSETS

 

 

44,933,428

 

 

 

61,337,827

 

 

 

8,403,247

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

Short-term borrowings

 

 

10,000,000

 

 

 

30,000,000

 

 

 

4,109,983

 

Accounts payable

 

 

411,219

 

 

 

319,595

 

 

 

43,784

 

Deferred revenue

 

 

2,621,402

 

 

 

2,691,633

 

 

 

368,752

 

Income tax payable

 

 

97,344

 

 

 

97,456

 

 

 

13,351

 

Lease liabilities - current

 

 

180,135

 

 

 

164,575

 

 

 

22,547

 

Accrued expenses and other current liabilities

 

 

1,145,737

 

 

 

558,235

 

 

 

76,478

 

Total current liabilities

 

 

14,455,837

 

 

 

33,831,494

 

 

 

4,634,895

 

 

 

 

 

 

 

 

 

 

 

Non-current liabilities:

 

 

 

 

 

 

 

 

 

Long-term borrowings

 

 

2,200,000

 

 

 

2,200,000

 

 

 

301,399

 

Lease liabilities - noncurrent

 

 

55,454

 

 

 

-

 

 

 

-

 

Other long-term liabilities

 

 

414,400

 

 

 

347,200

 

 

 

47,566

 

Total non-current liabilities

 

 

2,669,854

 

 

 

2,547,200

 

 

 

348,965

 

TOTAL LIABILITIES

 

 

17,125,691

 

 

 

36,378,694

 

 

 

4,983,860

 

 

 

 

 

 

 

 

 

 

 

Commitments and Contingencies

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

Ordinary Shares (US$0.0001 par value per share; 500,000,000 and 500,000,000 shares authorized as of June 30 and December 31, 2024; 20,000,000 and 20,000,000 shares issued and outstanding as of June 30 and December 31, 2024, respectively*)

 

 

12,720

 

 

 

12,720

 

 

 

1,743

 

Additional paid-in capital

 

 

65,063,327

 

 

 

65,063,327

 

 

 

8,913,639

 

Share subscription receivable

 

 

(12,720

)

 

 

(12,720

)

 

 

(1,743

)

Accumulated deficits

 

 

(37,278,750

)

 

 

(40,115,970

)

 

 

(5,495,865

)

Accumulated other comprehensive income

 

 

23,160

 

 

 

11,776

 

 

 

1,613

 

Total shareholders' equity

 

 

27,807,737

 

 

 

24,959,133

 

 

 

3,419,387

 

TOTAL LIABILITIES AND SHAREHOLDES’ EQUITY

 

 

44,933,428

 

 

 

61,337,827

 

 

 

8,403,247

 

  

*

The shares and per share data are presented on a retroactive basis to reflect the Company’s recapitalization

 

 

WEBUS INTERNATIONAL LIMITED 

 

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS 

 

(Amounts in Renminbi (“RMB”) and U.S. dollars (“US$”), except for share and per share data) 

 

 

 

For the six months ended December 31,

 

 

 

2023

 

 

2024

 

 

2024

 

 

 

RMB

 

 

RMB

 

 

US$

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

 

24,299,188

 

 

 

17,378,596

 

 

 

2,380,858

 

Cost of revenues

 

 

(21,386,284

)

 

 

(13,822,885

)

 

 

(1,893,727

)

Gross profit

 

 

2,912,904

 

 

 

3,555,711

 

 

 

487,131

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

Sales and marketing expenses

 

 

(4,213,766

)

 

 

(3,795,148

)

 

 

(519,933

)

General and administrative expenses

 

 

(2,589,165

)

 

 

(2,945,069

)

 

 

(403,473

)

Research and development expenses

 

 

(812,680

)

 

 

(604,159

)

 

 

(82,769

)

Total operating expenses

 

 

(7,615,611

)

 

 

(7,344,376

)

 

 

(1,006,175

)

Operating loss

 

 

(4,702,707

)

 

 

(3,788,665

)

 

 

(519,044

)

 

 

 

 

 

 

 

 

 

 

Other income/(expenses)

 

 

 

 

 

 

 

 

 

 Financial expenses, net

 

 

(455,550

)

 

 

(666,774

)

 

 

(91,348

)

 Other income, net

 

 

942,824

 

 

 

1,618,219

 

 

 

221,695

 

Total other income, net

 

 

487,274

 

 

 

951,445

 

 

 

130,347

 

 

 

 

 

 

 

 

 

 

 

Loss before income tax expense

 

 

(4,215,433

)

 

 

(2,837,220

)

 

 

(388,697

)

Income tax expense

 

 

(20,139

)

 

 

-

 

 

 

-

 

Net loss

 

 

(4,235,572

)

 

 

(2,837,220

)

 

 

(388,697

)

 

 

 

 

 

 

 

 

 

 

Other comprehensive income/(loss):

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustments, net of nil tax

 

 

5,118

 

 

 

(11,384

)

  

  

(1,560

)

Total other comprehensive income/(loss)

 

 

5,118

 

 

 

(11,384

)

  

  

(1,560

)

Total comprehensive loss

 

 

(4,230,454

)

 

 

(2,848,604

)

 

 

(390,257

)

Loss per ordinary share

 

 

 

 

 

 

 

 

 

Basic and diluted*

 

 

(0.21

)

 

 

(0.14

)

 

 

(0.02

)

Weighted average number of ordinary shares outstanding

 

 

 

 

 

 

 

 

 

Basic and diluted*

 

 

20,000,000

 

 

 

20,000,000

 

 

 

20,000,000

 

 

*

The shares and per share data are presented on a retroactive basis to reflect the Company’s recapitalization.