Net earnings (loss) per share

12 Months Ended

Dec. 31, 2025

LOSS PER SHARE*

Net earnings (loss) per share

Note 13 – Net earnings (loss) per share

The Company computes earnings (loss) per share of Class A Ordinary Shares and Class B Ordinary Shares using the two-class method. Except as voting rights as discussed in Note 12, all other rights, including the liquidation and dividend rights, of the holders of Class A Ordinary Shares and Class B Ordinary Shares are identical. As a result, the undistributed loss for each year is allocated based on the contractual participation rights of the Class A Ordinary Shares and Class B Ordinary Shares as if the earnings for the year had been distributed. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis.

The following tables set forth the computation of basic and diluted loss per share of Class A Ordinary Shares and Class B Ordinary Shares:

	For the Year Ended December 31, 2025
	Class A Ordinary Shares			Class B Ordinary Shares
	US$			US$
Basic and diluted loss per share:
Numerator
Allocation of undistributed loss	$	(9,587,938	)	$	(1,958,552	)
Denominator
Number of shares used in per share computation		23,402,915			4,780,575
Basic and diluted loss per share	$	(0.41	)	$	(0.41	)

	For the Year Ended December 31, 2024
	Class A Ordinary Shares			Class B Ordinary Shares
	US$			US$
Basic and diluted loss per share:
Numerator
Allocation of undistributed loss	$	(4,845,217	)	$	(1,038,934	)
Denominator
Number of shares used in per share computation		22,294,896			4,780,575
Basic and diluted loss per share	$	(0.22	)	$	(0.22	)

	For the Year Ended December 31, 2023
	Class A Ordinary Shares			Class B Ordinary Shares
	US$			US$
Basic and diluted loss per share:
Numerator
Allocation of undistributed loss	$	(6,402,122	)	$	(1,559,402	)
Denominator
Number of shares used in per share computation		19,626,646			4,780,575
Basic and diluted loss per share	$	(0.33	)	$	(0.33	)

For the year ended December 31, 2025, the Company had dilutive securities from the outstanding convertible notes and warrants that are convertible into 841,072 and 4,949,156 of the Company’s Class A Ordinary Shares, respectively, were not included in the computation of dilutive loss per share because the inclusion of such convertible notes and warrants would be anti-dilutive.

For the year ended December 31, 2024, the Company had dilutive securities from the outstanding convertible notes and warrants that are convertible into 1,206,141 and 4,943,608 of the Company’s Class A Ordinary Shares, respectively, were not included in the computation of dilutive loss per share because the inclusion of such convertible notes and warrants would be anti-dilutive.

For the year ended December 31, 2023, the Company had dilutive securities from the outstanding warrants that are convertible into 5,570,275 of the Company’s Class A Ordinary Shares, were not included in the computation of dilutive loss per share because the inclusion of such warrants would be anti-dilutive.

The summary of anti-dilutive instruments excluded from the computation of earnings per share, amount is as follows:

	Warrants		Convertible Notes		Total
Common Stock subject to outstanding:
For the year ended December 31, 2025		4,949,156		841,072		5,790,228
For the year ended December 31, 2024		4,943,608		1,206,141		6,149,749
For the year ended December 31, 2023		5,570,275		-		5,570,275