Exhibit 99.1

SPI ENERGY CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except for share and per share data)

	June 30, 2020			December 31, 2019
ASSETS
Current assets:
Cash and cash equivalents	$	3,261		$	2,764
Restricted cash		36			239
Accounts receivable, net		16,945			16,539
Inventories, net		10,565			13,781
Project assets, net		18,901			17,842
Prepaid expenses and other current assets, net		7,589			5,170
Amount due from related parties		155			154
Total current assets		57,452			56,489
Intangible assets, net		1,529			1,528
Goodwill		626			626
Other receivable, noncurrent		286			283
Property, plant and equipment, net		28,538			31,783
Project assets, noncurrent, net		16,490			16,495
Investment in affiliates, net		69,606			69,606
Deferred tax assets, net		41			58
Operating lease right-of-use assets		5,099			1,985
Total assets	$	179,667		$	178,853
LIABILITIES AND EQUITY (DEFICIT)
Current liabilities:
Accounts payable	$	17,467		$	19,677
Accrued liabilities		6,224			9,177
Income taxes payable		860			561
Advance from customers		17,063			17,632
Short-term borrowings and current portion of long-term borrowings		3,073			2,857
Amount due to an affiliate		8,222			9,128
Convertible bonds, net of unamortized debt discount		55,000			55,907
Amount due to related parties		917			–
Operating lease liability, current		373			426
Derivative liability		–			652
Consideration payable		55,535			54,000
Total current liabilities		164,734			170,017
Convertible bonds, noncurrent		–			–
Long-term borrowings, excluding current portion		5,619			6,039
Amount due to an affiliate, noncurrent		1,046			1,728
Deferred tax liabilities		3,371			3,506
Accrued warranty reserve		–			1,538
Operating lease liabilities, noncurrent		4,650			1,500
Total liabilities		179,420			184,328
Equity (deficit):
Ordinary shares, par $0.0001, 500,000,000 shares authorized, 14,837,469 and 14,621,125 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively		1			1
Additional paid in capital		613,442			612,726
Accumulated other comprehensive loss		(33,259	)		(35,527	)
Accumulated deficit		(582,722	)		(585,384	)
Total deficit attributable to shareholders of SPI Energy Co., Ltd.		(2,538	)		(8,184	)
Noncontrolling interests		2,785			2,709
Total equity (deficit)		247			(5,475	)
Total liabilities and equity	$	179,667		$	178,853

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SPI ENERGY CO., LTD.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except for share and per share data)

	For the Six Months Ended June 30,
	2020			2019
Net sales	$	56,364		$	49,727
Cost of goods sold		53,221			44,148
Gross profit		3,143			5,579
Operating (income) expenses:
General and administrative		2,825			10,640
Sales, marketing and customer service		634			1,242
Reversal of impairment charge on project assets		(3,751	)		–
Provision for doubtful accounts		–			175
Total operating (income) expenses		(292	)		12,057
Operating income (loss)		3,435			(6,478	)
Other expense:
Interest expense, net		2,053			1,508
Change in fair value of derivative liability		(498	)		–
Net foreign exchange gain		(1,056	)		(179	)
Others		(199	)		(205	)
Total other expense, net		300			1,124
Income (loss) before income taxes		3,135			(7,602	)
Income tax expense		390			205
Net income (loss) including noncontrolling interests	$	2,745		$	(7,807	)
Less: Net income attributable to noncontrolling interests		83			41
Net income (loss) attributable to shareholders of SPI Energy Co., Ltd.	$	2,662		$	(7,848	)
Net income (loss) from per ordinary share:
Basic and Diluted	$	0.18		$	(0.7	)
Weighted average shares outstanding
Basic and Diluted		14,805,098			10,811,053

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