{"id":831931,"date":"2025-03-31T17:30:15","date_gmt":"2025-03-31T21:30:15","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/thunder-power-holdings-inc-announces-financial-results-and-strategic-developments\/"},"modified":"2025-03-31T17:30:15","modified_gmt":"2025-03-31T21:30:15","slug":"thunder-power-holdings-inc-announces-financial-results-and-strategic-developments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/thunder-power-holdings-inc-announces-financial-results-and-strategic-developments\/","title":{"rendered":"Thunder Power Holdings, Inc. Announces Financial Results and Strategic Developments"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n WILMINGTON, Del.<\/span>
\n <\/span>, March 31, 2025<\/span><\/span> \/PRNewswire\/ — Thunder Power Holdings, Inc. (NASDAQ: AIEV)<\/b>\u00a0(“Thunder Power” or the “Company”), a technology innovator and developer of premium passenger Electric Vehicles (EVs), today announced its financial results for full fiscal year 2024 along with several key developments aimed at enhancing its market position and driving future growth. The Company also announced the transfer of listing in the United States<\/span> from the Nasdaq Global Market to the Nasdaq Capital Market, effective on March 28, 2025<\/span>.<\/p>\n

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\n Pending Share Exchange Transaction with Electric Power Technology Limited
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On February 10, 2025<\/span>, Thunder Power executed an Amendment Agreement (the “Amendment”) with certain shareholders (“TW Shareholders”) of Electric Power Technology Limited (“TW Company”). This Amendment amended the Share Exchange Agreement dated December 19, 2024<\/span> between the Company and TW Shareholders. The Company expect to issue approximately 37.6 million shares of the Company’s common stock for approximately 31.6 million ordinary shares in TW Company. The closing of the transaction is subject to shareholder and regulatory approvals.<\/p>\n

The TW Company is currently focused on the acquisition and development of solar power generation projects and the development of energy storage businesses. On March 4, 2025<\/span>, TW Company announced that it entered into equity trading agreements with shareholders of Laiyang Solar Energy Co. (Laiyang) and Jinlaiyang Solar Energy Co. (Jinlaiyang) for the purchase of 4.4 megawatts generation capacity, which are expected to provide additional solar energy exposure for both TW Company and Thunder Power. Solar generation in Taiwan<\/span> represented 5% of the electricity market in 2024. The Taiwanese government has set a target for 15% of the island’s electricity to come from renewable energy sources by 2025. Solar is forecasted to grow to 35% of total installed generation capacity by 2035. TW Company is listed on the Taipei Exchange under the code 4529.<\/p>\n

\n Taiwan<\/span> represents an important market for Thunder Power, as it is designated as the launch market for its first EV. The combination of electricity generation and mobility will offer multiple commercial benefits.<\/p>\n

\n Christopher Nicoll<\/span>, Chief Executive Officer of\u00a0Thunder Power, commented, “Once the share exchange is approved, this transaction is expected to provide Thunder Power with an initial stream of revenue and further diversify AIEV as a green energy solution provider. AIEV is focused on addressing strategic gaps in the EV sector combined with a diversified approach across the clean energy value chain. Electric Power Technology is developing a growing position within the solar power industry, and we are excited to launch this partnership to deliver innovative power solutions to a variety of end markets going forward. We view this transaction as a deliberate next step to expand our capabilities and enter adjacent environmentally sustainable fields as we work to bring our EV’s to market. We look forward to sharing additional exciting developments in the coming quarters.”<\/p>\n

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\n Thunder Power Announces Transfer of Listing from Nasdaq Global Market to Nasdaq Capital Market (NASDAQ-CM)<\/u>
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On March 26, 2025<\/span>, the Company received approval from the Listing Qualifications Department of the Nasdaq Stock Market (“Nasdaq”) to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer of the Company’s listing to the Capital Market is not expected to have any impact on trading in the Company’s common stock, which will continue to trade under the symbol “AIEV”.<\/p>\n

The Nasdaq Capital Market (NASDAQ-CM), previously known as the Nasdaq SmallCap Market, serves smaller capitalization companies with less stringent financial and liquidity listing requirements. The Nasdaq Capital Market benefits smaller companies focused on raising capital and lists a wide variety of companies, including those from technology, biotechnology, and other sectors.<\/p>\n

“We believe listing on the Nasdaq Capital Market is more reflective of AIEV at this stage in our development, allowing us to focus on generating revenue, improving our balance sheet, and giving us more financial flexibility. This listing transfer, along with our pending stake in Electric Power Technology, positions the Company favorably for future growth,” concluded Nicoll.\u00a0<\/p>\n

Thunder Power’s securities began trading on NASDAQ-CM on March 28, 2025<\/span>.<\/p>\n

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\n Full Year 2024 Financial Highlights:<\/u>
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