Ebang International Reports Financial Results for Fiscal Year 2025

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Forward-Looking Statements

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This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s development plans and business outlook, which can be identified by terminology such as “may,” “will,” “expects,” “anticipates, ” “aims,” “potential,” “future,” “intends,” “plans,” “believes,” “estimates,” “continue,” “likely to,” and other similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Such statements are not historical facts, and are based upon the Company’s current beliefs, plans and expectations, and the current markets and operating conditions. Forward-looking statements include, but are not limited to, statements regarding our future operating results and financial position, our business strategy and plans, expectations relating to our industry, the regulatory environment, market conditions, trends and growth, expectations relating to customer behaviors and preferences, our market position and potential market opportunities, and our objectives for future operations. Forward-looking statements involve inherent known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance and achievements to differ materially from those contained in any forward-looking statement. These risks and uncertainties include our ability to successfully execute our business and growth strategy and maintain future profitability, market acceptance of our products and services, our ability to further penetrate our existing customer base and expand our customer base, our ability to develop new products and services, our ability to expand internationally, the success of any acquisitions or investments that we make, the efforts of increased competition in our markets, our ability to stay in compliance with applicable laws and regulations, market conditions across the blockchain, Fintech and general markets, political and economic conditions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. These forward-looking statements are made only as of the date indicated, and the Company undertakes no obligation to update or revise the information contained in any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.

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Investor Relations Contact

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For investor and media inquiries, please contact:
Ebang International Holdings Inc.
Email: [email protected]

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EBANG INTERNATIONAL HOLDINGS INC. CONSOLIDATED BALANCE SHEETS (Stated in US dollars)

	December 31, 2025			December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	200,191,726		$	213,822,331
Restricted cash, current		31,155			580,019
Short-term investments		6,169,815			4,906,760
Accounts receivable, net		1,099,081			1,586,766
Advances to suppliers		477,748			70,312
Inventories, net		3,642,958			597,116
Prepayments		729,713			322,382
VAT recoverable, current		87,505			3,203,198
Other current assets, net (include $126,920 and nil due from a related party as of December 31, 2025 and 2024, respectively)		3,758,291			5,676,953
Total current assets		216,187,992			230,765,837

Non-current assets:
Property, plant and equipment, net		29,804,484			29,907,181
Intangible assets, net		2,196,854			3,339,664
Operating lease right-of-use assets		3,608,497			3,348,442
Operating lease right-of-use assets – related party		69,486			40,081
Restricted cash, non-current		796,786			602,178
Goodwill		–			1,277,789
VAT recoverable, non-current		1,468,819			766,587
Other assets		2,635,010			5,756,224
Total non-current assets		40,579,936			45,038,146

Total assets	$	256,767,928		$	275,803,983

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	436,119		$	286,099
Accrued liabilities and other payables (include $126,920 and nil due to a related party as of December 31, 2025 and 2024, respectively)		6,310,237			10,367,210
Operating lease liabilities, current		1,105,514			1,114,377
Operating lease liabilities – related party, current		48,252			29,961
Advances from customers		14,812			55,403
Total current liabilities		7,914,934			11,853,050

Non-current liabilities:
Operating lease liabilities, non-current		3,430,152			2,877,122
Operating lease liabilities – related party, non-current		21,234			10,120
Other non-current liability		357,403			376,841
Deferred tax liabilities		3,379			326,452
Total non-current liabilities		3,812,168			3,590,535

Total liabilities		11,727,102			15,443,585

Equity:
Class A ordinary share, HKD0.03 par value, 11,112,474 shares authorized, 4,989,746 shares issued, 4,726,424 shares outstanding as of December 31, 2025 and 2024⁽¹⁾		18,178			18,178
Class B ordinary share, HKD0.03 par value, 1,554,192 shares authorized, issued and outstanding as of December 31, 2025 and 2024⁽¹⁾		5,978			5,978
Additional paid-in capital		396,090,766			396,454,715
Statutory reserves		11,079,649			11,079,649
Accumulated deficit		(149,185,245	)		(135,091,716	)
Accumulated other comprehensive loss		(13,777,506	)		(12,874,020	)
Total Ebang International Holdings Inc. shareholders’ equity		244,231,820			259,592,784

Non-controlling interest		809,006			767,614

Total equity		245,040,826			260,360,398

Total liabilities and equity	$	256,767,928		$	275,803,983

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⁽¹⁾	As of December 31, 2025 and 2024, 263,322 reserved for future issuance upon the vesting of RSAs granted under the 2020 Plan were considered issued but not outstanding.

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EBANG INTERNATIONAL HOLDINGS INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Stated in US dollars)

	For the year ended December 31, 2025			For the year ended December 31, 2024			For the year ended December 31, 2023
Product revenue	$	793,047		$	1,179,404		$	782,349
Service revenue		5,743,940			4,689,367			4,072,832
Total revenues		6,536,987			5,868,771			4,855,181
Cost of revenues		6,142,141			4,679,085			21,558,986
Gross profit (loss)		394,846			1,189,686			(16,703,805	)

Operating expenses:
Selling expenses		536,562			1,107,048			1,893,607
General and administrative expenses		22,733,520			30,455,530			29,041,432
Impairment of intangible assets		1,096,816			–			3,708,247
Impairment of goodwill		1,327,457			–			2,299,628
Total operating expenses		25,694,355			31,562,578			36,942,914

Gain on disposal of subsidiaries		–			–			7,524
Loss from operations		(25,299,509	)		(30,372,892	)		(53,639,195	)

Other income (expenses):
Interest income		8,513,402			11,371,783			11,941,453
Other income		167,841			328,360			1,131,178
(Loss) gain from investment		(508,155	)		382,896			356,996
Net (loss) gain on disposal of cryptocurrencies		–			(374,964	)		744,803
Exchange gain (loss)		3,078,562			(2,169,880	)		456,647
Government grants		39,121			52,191			62,600
Other expenses		(477,443	)		(126,208	)		(119,531	)
Total other income		10,813,328			9,464,178			14,574,146

Loss before income taxes benefit		(14,486,181	)		(20,908,714	)		(39,065,049	)

Income taxes benefit		(320,983	)		(42,545	)		(1,031,461	)

Net loss		(14,165,198	)		(20,866,169	)		(38,033,588	)
Less: net loss attributable to non-controlling interest		(71,669	)		(615,118	)		(1,261,445	)
Net loss attributable to Ebang International Holdings Inc.	$	(14,093,529	)	$	(20,251,051	)	$	(36,772,143	)

Comprehensive loss
Net loss	$	(14,165,198	)	$	(20,866,169	)	$	(38,033,588	)
Other comprehensive loss:
Foreign currency translation adjustment		(790,425	)		917,303			(2,278,915	)

Total comprehensive loss		(14,955,623	)		(19,948,866	)		(40,312,503	)
Less: comprehensive loss attributable to non-controlling interest		41,392			(710,883	)		(1,377,803	)
Comprehensive loss attributable to Ebang International Holdings Inc.	$	(14,997,015	)	$	(19,237,983	)	$	(38,934,700	)

Net loss per ordinary share attributable to Ebang International Holdings Inc.
Basic	$	(2.24	)	$	(3.22	)	$	(5.86	)
Dilute	$	(2.24	)	$	(3.22	)	$	(5.86	)

Weighted average ordinary shares outstanding
Basic		6,280,616			6,280,616			6,275,118
Diluted		6,280,616			6,280,616			6,275,118