Total assets have plummeted from $55.0 million in 2024Q1 to $13.2 million by 2026Q1, reflecting a rapid erosion of equity and a lack of productive infrastructure.
| Total Current Assets | 13.14M | 13.15M | 13.55M | 1.25M | 715.12K | 229 |
| Cash & Short-Term Investments | 9.45K | 11.03K | 52.62K | 196.91K | 546.63K | 229 |
| Cash Only | 8.67K | 10.09K | 52.62K | 18.33K | 546.63K | 229 |
| Short-Term Investments | 780 | 933 | 0 | 178.58K | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 13.13M | 13.14M | 315K | 1.04M | 0 | 0 |
| Total Non-Current Assets | 14.12K | 17.86K | 4.61K | 54.08M | 100.53M | 52.1K |
| Property, Plant & Equipment | 14.12K | 17.86K | 4.61K | 7.71K | 38.8K | 52.1K |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 100.53M | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 54.07M | -38.8K | 0 |
| Total Assets | 13.15M | 13.17M | 13.56M | 1.26M | 101.24M | 52.33K |
| Asset Turnover | 0.00x | - | - | - | - | - |
| Asset Growth % | -11.97% | -2.82% | 977.86% | -98.76% | 193373.13% | - |
| Total Current Liabilities | 8.83M | 8.36M | 7.03M | 2.83M | 544.95K | 656.82K |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - |
| Short-Term Debt | 12.84K | 14.88K | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 300K | 500K |
| Other Current Liabilities | 8.82M | 8.34M | 0 | 2.8M | 0 | 0 |
| Current Ratio | 1.49x | 1.57x | 1.93x | 0.44x | 1.31x | 0.00x |
| Quick Ratio | 1.49x | 1.57x | 1.93x | 0.44x | 1.31x | 0.00x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 1.7K | 0 | 3.42M | 3.42M | 0 |
| Long-Term Debt | 0 | 1.7K | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 9.17K | 0 | 0 | 0 | 3.44K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 3.42M | 0 | 0 |
| Total Liabilities | 8.83M | 8.36M | 7.03M | 6.26M | 3.97M | 656.82K |
| Total Debt | 12.84K | 16.58K | 3.46K | 2.16M | 131.08K | 74.33K |
| Net Debt | 4.18K | 6.49K | -49.16K | 2.14M | -415.56K | 74.1K |
| Debt / Equity | 0.00x | 0.00x | 0.00x | 0.05x | 0.00x | - |
| Debt / EBITDA | -0.01x | 0.97x | 0.12x | - | - | - |
| Net Debt / EBITDA | -0.00x | 0.38x | -1.70x | - | - | - |
| Interest Coverage | 3.54x | - | - | - | - | - |
| Total Equity | 4.32M | 4.82M | 6.52M | 47.88M | 97.27M | -604.5K |
| Equity Growth % | -101.02% | -26.18% | -86.38% | -50.77% | 16191.85% | - |
| Book Value per Share | 0.09 | 0.09 | 0.15 | 4.67 | 0.39 | -0.01 |
| Total Shareholders' Equity | 4.32M | 4.82M | 6.52M | 47.88M | 97.27M | -604.5K |
| Common Stock | 5.07K | 5.07K | 5.07K | 29.2K | 24.73K | 24.71K |
| Retained Earnings | 0 | 0 | -36.93M | -34.43M | -32.61M | -32.18M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.97K | 180 | 133 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent insolvency and dilution
As reported in financial statements, AIEV's total assets have plummeted from $55.0 million in 2024Q1 to $13.2 million by 2026Q1, reflecting a rapid depletion of resources that suggests the company is struggling to maintain its operational viability without a clear path to commercialization.
The consistent decline in total assets over the last two years indicates that the company is consuming its remaining capital to fund administrative overhead rather than productive R&D. This trajectory suggests that the business model is failing to gain traction, leaving the balance sheet increasingly fragile.
Based on recent SEC filings, AIEV's cash reserves have dwindled to a nominal $8,700 as of 2026Q1, a figure that is fundamentally insufficient to support the ongoing administrative and development costs required for a public entity in the automotive manufacturing sector.
The current cash position represents a near-total exhaustion of liquidity, which implies that the company is likely unable to meet its short-term obligations without immediate external intervention. Investors should monitor for emergency financing, which would likely result in significant dilution for existing shareholders.
According to the provided balance sheet data, AIEV's equity has contracted significantly from $21.5 million in 2024Q1 to $4.3 million in 2026Q1, driven by the persistent accumulation of net losses that have eroded the company's book value over the observed period.
The erosion of equity highlights the lack of value creation during the company's long development phase. This trend suggests that the company is effectively operating on the remaining scraps of its initial capital, leaving little cushion to absorb further operational setbacks or delays in vehicle production.
As indicated by the company's reported figures, the asset base is almost entirely devoid of meaningful property, plant, or equipment, with net PPE totaling only $14,100 in 2026Q1, which underscores the absence of a tangible manufacturing footprint or productive infrastructure.
The lack of significant PPE suggests that the company remains a conceptual entity rather than a functional manufacturer, which makes the valuation of its assets highly speculative. This composition warrants further investigation into whether the company possesses any tangible value beyond its intellectual property, which may be increasingly obsolete.
Quick answers to the most common questions about buying AIEV stock.
As of 2025, Thunder Power Holdings, Inc. (AIEV) had total assets of $13.2M including $13.2M in current assets.
Thunder Power Holdings, Inc. (AIEV) carries total debt of $0.0M, offset by $0.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Thunder Power Holdings, Inc. (AIEV) has total shareholders' equity (book value) of $4.8M ($0.09 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Thunder Power Holdings, Inc. (AIEV) reported a current ratio of 1.57x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.