R
Erayak Power Solution Group Inc.
Period
FY 2025
Revenue
$22.86M
Net Income
$-1.39M
Total Assets
$59.45M
Equity
$35.27M
Shares Out
11.00M
Op. Cash Flow
$-3.17M
Business
Erayak Power Solution Group Inc. manufactures, researches and develops power solution products and conducts wholesale and retail distribution through its PRC subsidiaries. Its principal products include gasoline generators, DC-to-AC inverters, hybrid inverters and energy storage systems, portable power stations and smart battery chargers. Key business units operate through subsidiaries Ruike, Zhejiang Leiya and Wenzhou New Focus, encompassing manufacturing, R&D, customization (built-to-order), quality control and e-commerce sales channels. The company sells throughout China and exports to markets including Japan, Europe, the U.S., Canada, Australia, Dubai and other international markets, using wholesale, retail and online platforms such as Amazon.
Summary from filing dated 2025-04-23
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Sales | 23 | 30 | 20 | |
| Cost of sales | 18 | 26 | 15 | |
| Gross profit | 5 | 4 | 5 | |
| Operating expenses: | — | — | — | |
| General and administrative | 4 | 2 | 2 | |
| Selling and marketing | 771,176 | 946,269 | 962,479 | |
| Research and development | 2 | 2 | 1 | |
| Bad debt expense | 122,847 | 224,534 | 36,972 | |
| Inventory allowance (provision) / reversal | 368,693 | −295,907 | −81,622 | |
| Impairment provision of advance to suppliers | 379,480 | 111,882 | 0 | |
| Total operating expenses | 7 | 6 | 4 | |
| Operating (loss) income | −2 | −2 | 741,205 | |
| Other income (expenses): | — | — | — | |
| Interest income (expenses), net | −48,040 | 139,441 | 402,671 | |
| Rental income, net | 153,845 | 154,471 | 195,347 | |
| Investment loss | −229,170 | 1 | −1 | |
| Other income, net | 308,038 | 362,364 | 878,080 | |
| Total other income, net | 280,753 | 377,393 | 670,755 | |
| (Loss) income before income taxes | −1 | −1 | 1 | |
| Income tax provision | 28,931 | −66,338 | 193,246 | |
| Net (loss) income | −1 | −1 | 1 | |
| Other comprehensive income: | — | — | — | |
| Foreign currency translation adjustment | −859,260 | 500,376 | 360,677 | |
| Total comprehensive (loss) income | −530,677 | −2 | 858,037 | |
| Earnings per share attributable to common shareholders: | — | — | — | |
| Shares (in Shares) | 89,497 | 22,995 | 5,455 | |
| (Loss) earnings per share (in Dollars per share) | −27.28 | −98.34 | 223.43 | |
| Weighted average number of shares outstanding | — | — | — | |
| Basic (in Shares) | 50,958 | 11,348 | 5,455 | |
| Diluted (in Shares) | 50,958 | 11,348 | 5,455 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 |
|---|---|---|---|
| ASSETS | — | — | |
| Current assets: | — | — | |
| Cash and cash equivalents | 184,856 | 532,605 | |
| Restricted cash | 251,932 | 792,204 | |
| Accounts receivable, net | 14 | 12 | |
| Accounts receivable, related parties | 3 | 1 | |
| Inventories | 10 | 9 | |
| Advance to suppliers | 6 | 9 | |
| Advance to suppliers, related parties | 1 | 0 | |
| Other receivables | 153,832 | 139,505 | |
| Other receivables, related parties | 14,300 | 0 | |
| Short-term investment | 5 | 0 | |
| Other current assets | 4 | — | |
| Total current assets | 43 | 33 | |
| Property, plant and equipment, net | 7 | 2 | |
| Intangible assets, net | 3 | 61,972 | |
| Right-of-use assets | 6 | 6 | |
| Deferred tax assets | 78,033 | 100,994 | |
| Long-term investment | 193,453 | 410,998 | |
| Other non-current assets | 0 | 4 | |
| TOTAL ASSETS | 59 | 46 | |
| LIABILITIES AND SHAREHOLDERS’ EQUITY | — | — | |
| Current liabilities: | — | — | |
| Short-term borrowings | 8 | 1 | |
| Accounts payable | 6 | 8 | |
| Accounts payable, related parties | 132,136 | 0 | |
| Accrued expenses and other current liabilities | 1 | 822,014 | |
| Advances from customers | 2 | 628,067 | |
| Due to related parties | 4 | 7 | |
| Long-term loans – current portion | 778,103 | 161,529 | |
| Tax payable | 929,213 | 1 | |
| Total current liabilities: | 21 | 16 | |
| Long-term loans | 3 | 4 | |
| TOTAL LIABILITIES | 24 | 19 | |
| COMMITMENTS AND CONTINGENCIES | 0 | 0 | |
| Shareholders’ Equity: | — | — | |
| Ordinary shares value | 19,689 | 5,059 | |
| Additional paid-in capital | 28 | 19 | |
| Statutory reserve | 1 | 1 | |
| Retained earnings | 7 | 8 | |
| Accumulated other comprehensive loss | −385,736 | −1 | |
| Total Shareholders’ equity | 35 | 27 | |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 59 | 46 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | Dec 31, 2025 2025-12-31 | Dec 31, 2024 2024-12-31 | Dec 31, 2023 2023-12-31 |
|---|---|---|---|---|
| Cash Flows from Operating Activities: | — | — | — | |
| Net income | −1 | −1 | 1 | |
| Adjustments to reconcile net income to net cash used in operating activities: | — | — | — | |
| Depreciation and amortization | 574,142 | 431,921 | 388,002 | |
| Loss on asset disposal | −241 | 0 | 0 | |
| Deferred tax assets | 26,642 | −70,346 | 0 | |
| Accounts receivable provision | 122,847 | 224,534 | 36,972 | |
| Advance to suppliers impairment provision | 379,480 | 111,882 | 0 | |
| Inventory impairment (reversal)/provision | −368,693 | 295,907 | 81,621 | |
| Imputed interest expenses | 0 | 0 | 17,755 | |
| Loss on long-term investment | −229,170 | 0 | 0 | |
| Right of use lease assets amortization | 689,181 | 689,922 | 514,691 | |
| Changes in operating assets and liabilities: | — | — | — | |
| Accounts receivable | 2 | 6 | −3 | |
| Accounts receivable, related parties | 2 | 1 | 0 | |
| Inventory | 119,552 | 2 | 1 | |
| Advance to suppliers | −3 | 7 | 1 | |
| Advance to suppliers, related parties | −1 | 0 | 0 | |
| Prepaid expenses | 0 | 0 | 25,000 | |
| Other receivables | 101,658 | 19,561 | 79,876 | |
| Other receivables, related parties | 13,913 | — | — | |
| Loan receivable | 0 | 0 | −163,821 | |
| Other current assets | 4 | 0 | 0 | |
| Other non-current assets | −4 | 0 | 0 | |
| Accounts payable | −3 | 3 | 1 | |
| Accounts payable, related parties | 128,562 | 0 | 0 | |
| Accrued expenses and other current liabilities | 156,410 | −2 | 2 | |
| Advances from customers | −893,482 | −284,372 | 334,225 | |
| Tax payable | −133,201 | −16,269 | 246,425 | |
| Net cash (used in) provided by operating activities | −3 | −16 | 7 | |
| Cash Flows from Investing Activities: | — | — | — | |
| Purchases of property, plant and equipment | 5 | 517,813 | 684,210 | |
| Purchases of intangible assets | 3 | 37,082 | 25,689 | |
| Short-term investment | 5 | 0 | 0 | |
| Long-term investment | — | 416,916 | 0 | |
| Fixed deposit | — | 0 | 4 | |
| Advance for potential long-term warehouse lease | — | 0 | 1 | |
| Advance for potential land purchase | — | 0 | −4 | |
| Net cash used in investing activities | −12 | −971,811 | −1 | |
| Cash Flows from Financing Activities: | — | — | — | |
| Proceeds from short-term borrowings | 10 | 1 | 4 | |
| Repayments on short-term borrowings | 3 | 309,032 | 10 | |
| Proceeds from related parties | 7 | 12 | 17 | |
| Repayments to related parties | 9 | 10 | 15 | |
| Proceeds from share issuance | 9 | 0 | 0 | |
| Proceeds from private placement | 0 | 8 | 0 | |
| Proceeds from long-term loan | 4 | 4 | 7 | |
| Repayments on long-term loan | 4 | 2 | 9 | |
| Net cash provided by (used in) financing activities | 14 | 12 | −6 | |
| Effect of exchange rate changes on cash | 381,714 | −86,282 | −103,044 | |
| Net decrease in cash and cash equivalents | −888,021 | −5 | −1 | |
| Cash and cash equivalents at the beginning of year | 1 | 6 | 7 | |
| Cash and cash equivalents at the end of year | 436,788 | 1 | 6 | |
| Cash and cash equivalents | — | — | — | |
| Restricted cash | — | — | — | |
| Cash and cash equivalents at the end of year | — | — | — | |
| Supplemental disclosures of cash flows information: | — | — | — | |
| Cash paid for income taxes | 12,386 | 178,694 | 0 | |
| Cash paid for interest | 279,683 | 148,335 | 410,922 |
Filings
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Frequently asked questions
What is Erayak Power Solution Group Inc.'s CIK number?
Erayak Power Solution Group Inc.'s SEC CIK number is 0001825875 (1825875). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find Erayak Power Solution Group Inc.'s SEC filings?
All of Erayak Power Solution Group Inc.'s EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.