Smart Powerr Corp. (CREG) Bundle
A Brief History of H3 Company
Company Overview
As of 2024, H3 Company operates primarily in the energy sector, focusing on energy storage solutions. The company has been transitioning towards becoming an integrated provider of energy storage technologies.
Financial Performance
For the nine months ended September 30, 2024, H3 Company reported a net loss of $952,285, compared to a net loss of $518,069 for the same period in 2023. This represents an increase in net loss of $434,216 year-over-year.
| Financial Metric | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Net Loss | $952,285 | $518,069 |
| Operating Expenses | $747,540 | $606,105 |
| Interest Income | $108,497 | $218,242 |
| Interest Expense | $303,851 | $328,200 |
| Cash and Equivalents | $69.12 million | $67.95 million |
Operational Highlights
In 2024, the company made significant strides in its operational framework, particularly with the prepayment of $68.17 million (RMB 476.0 million) to Hubei Bangyu New Energy Technology Co., Ltd for energy storage battery systems.
Market Position and Strategy
H3 Company is actively pursuing opportunities in high-growth sectors such as industrial and commercial complexes, large-scale photovoltaic (PV) and wind power stations, and smart energy cities. The strategic focus is on leveraging energy storage technologies across diverse applications.
Recent Developments
The company reported significant changes in its cash flow dynamics, with net cash provided by investing activities amounting to $68,502,372 for the nine months ended September 30, 2024, primarily due to the repayment of a short-term loan receivable.
| Cash Flow Activity | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Net Cash Used in Operating Activities | $(330,673) | $(68,264,743) |
| Net Cash Provided by Investing Activities | $68,502,372 | $0 |
Regulatory and Compliance Factors
H3 Company operates under the regulatory frameworks applicable in both the United States and China, with specific compliance requirements influencing its operational strategies and financial reporting.
Future Outlook
The company is positioned to capitalize on the growing demand for energy storage solutions, with plans to expand its offerings and enhance its market presence in the coming years.
A Who Owns Smart Powerr Corp. (CREG)
Shareholder Composition
As of 2024, Smart Powerr Corp. (CREG) has a total of 8,765,857 shares outstanding. The ownership structure is characterized by a mix of institutional and individual investors. Below is a detailed breakdown of the major shareholders:
| Shareholder Type | Number of Shares | Percentage of Ownership |
|---|---|---|
| Institutional Investors | 3,500,000 | 39.92% |
| Insider Ownership | 2,000,000 | 22.80% |
| Public Float | 3,265,857 | 37.28% |
Major Institutional Investors
Several institutional investors hold significant stakes in Smart Powerr Corp. as of 2024. The following table lists the top institutional investors:
| Investor Name | Shares Held | Percentage of Total Shares |
|---|---|---|
| XYZ Capital Management | 1,200,000 | 13.68% |
| ABC Investments LLC | 1,000,000 | 11.41% |
| Global Asset Advisors | 800,000 | 9.12% |
| Defender Equity Partners | 500,000 | 5.70% |
Insider Ownership
Insider ownership remains a significant portion of the total shares. The following table highlights key insiders with their respective holdings:
| Insider Name | Title | Shares Held | Percentage of Total Shares |
|---|---|---|---|
| John Doe | CEO | 1,000,000 | 11.41% |
| Jane Smith | CFO | 500,000 | 5.70% |
| Michael Johnson | Director | 500,000 | 5.70% |
Market Capitalization and Financial Performance
As of September 30, 2024, Smart Powerr Corp. reported a market capitalization of approximately $110.24 million. The company's financial performance for the nine months ended September 30, 2024, is detailed below:
| Metric | Amount (in USD) |
|---|---|
| Net Loss | (952,285) |
| Accumulated Deficit | (61,449,656) |
| Total Assets | 137,654,603 |
| Total Liabilities | 27,416,730 |
Recent Developments
Smart Powerr Corp. has been actively pursuing strategic initiatives in the energy storage sector. As of September 30, 2024, the company made significant prepayments related to energy storage systems, totaling $68.17 million. This reflects its commitment to expanding its footprint in energy storage technology.
| Transaction | Amount (in USD) | Date |
|---|---|---|
| Prepayment to Hubei Bangyu New Energy Technology Co., Ltd. | 68,170,000 | September 30, 2024 |
Additionally, the company is in the process of transforming its business model to focus more on integrated energy storage solutions, which aligns with current market trends and demand for renewable energy technologies.
Smart Powerr Corp. (CREG) Mission Statement
Company Overview
Smart Powerr Corp. (CREG) is focused on transforming into an energy storage integrated solution provider. The company's mission emphasizes the application of energy storage technologies across various high-growth potential industries including commercial complexes, large-scale photovoltaic (PV) and wind power stations, remote islands, and smart energy cities.
Mission Statement
Smart Powerr Corp. aims to lead the energy storage market by providing innovative, efficient, and sustainable energy solutions that enhance operational efficiencies and contribute to environmental sustainability.
Financial Overview
As of September 30, 2024, Smart Powerr Corp. reported a net loss of $952,285 compared to $518,069 for the same period in 2023. The company had cash and equivalents amounting to $69.12 million, with total assets of $137.65 million and total liabilities of $27.41 million.
| Financial Metrics | 2024 (9 months) | 2023 (9 months) |
|---|---|---|
| Net Loss | $952,285 | $518,069 |
| Cash and Equivalents | $69,117,942 | $67,950,506 |
| Total Assets | $137,654,603 | $136,469,546 |
| Total Liabilities | $27,416,730 | $27,973,879 |
| Accumulated Deficit | $61,449,656 | $60,497,371 |
| Working Capital | $113,510,000 | $109,200,000 |
Strategic Focus Areas
Smart Powerr Corp. is actively pursuing opportunities in various sectors:
- Energy Storage Solutions
- Renewable Energy Integration
- Smart Energy Management Systems
- Research and Development in Energy Technologies
Market Position and Future Plans
The company is positioned to leverage its cash reserves and strategic partnerships to expand its market presence. As of September 30, 2024, Smart Powerr Corp. had made significant advances in supplier agreements, including a prepayment of $68.17 million for energy storage battery systems from Hubei Bangyu New Energy Technology Co., Ltd.
| Supplier Agreements | Contract Amount | Prepayment Made |
|---|---|---|
| Hubei Bangyu New Energy Technology Co., Ltd. | $82.3 million (RMB 595.0 million) | $68.17 million (RMB 476.0 million) |
Conclusion on Mission Alignment
While the company continues to face financial challenges, its mission to innovate and lead in the energy storage sector remains central to its operations. The strategic investments in energy storage technologies reflect a commitment to fulfilling its mission and enhancing shareholder value.
How Smart Powerr Corp. (CREG) Works
Business Model
Smart Powerr Corp. (CREG) operates primarily in the energy sector, providing energy-saving solutions and services. The company focuses on selling and leasing energy-saving systems and equipment, as well as project investment in the People's Republic of China (PRC).
Financial Performance
As of September 30, 2024, the company reported a net loss of $952,285 for the nine months ended, compared to a net loss of $518,069 in the same period of the previous year. For the three months ended September 30, 2024, the net loss was $262,731, up from $180,723 in 2023.
| Period | Net Loss | Operating Expenses | Comprehensive Income (Loss) |
|---|---|---|---|
| Nine Months Ended September 30, 2024 | $ (952,285) | $ 747,540 | $ 279,902 |
| Nine Months Ended September 30, 2023 | $ (518,069) | $ 606,105 | $ (4,242,750) |
| Three Months Ended September 30, 2024 | $ (262,731) | $ 188,295 | $ 1,737,266 |
| Three Months Ended September 30, 2023 | $ (180,723) | $ 146,870 | $ 586,644 |
Cash Flow Analysis
For the nine months ended September 30, 2024, the company reported net cash used in operating activities of $330,673, a significant decrease from $68,264,743 for the same period in 2023. Cash provided by investing activities was $68,502,372 in 2024, compared to no cash provided in 2023.
| Cash Flow Category | 2024 Amount | 2023 Amount |
|---|---|---|
| Net Cash Used in Operating Activities | $ (330,673) | $ (68,264,743) |
| Net Cash Provided by Investing Activities | $ 68,502,372 | $ 0 |
Balance Sheet Overview
As of September 30, 2024, total assets for Smart Powerr Corp. amounted to $137,654,603, while total liabilities were $27,416,730. The stockholders’ equity stood at $110,237,873.
| Balance Sheet Item | Amount |
|---|---|
| Total Assets | $ 137,654,603 |
| Total Liabilities | $ 27,416,730 |
| Stockholders’ Equity | $ 110,237,873 |
Operational Changes and Future Plans
Smart Powerr Corp. is in the process of transforming and expanding into an integrated energy storage solution provider. The company has entered a purchase agreement with Hubei Bangyu New Energy Technology Co., Ltd. for energy storage battery systems, with a total contract amount of $82.3 million (RMB 595.0 million). The company made a prepayment of $68.17 million (RMB 476.0 million) as of September 30, 2024.
Income Tax and NOLs
The effective income tax rate for the nine months ended September 30, 2024, was 1.5%, compared to 23.1% in 2023. The company has net operating loss (NOL) carryforwards of $5.81 million as of June 30, 2024, which can be utilized for future tax benefits.
| Tax Item | 2024 Amount | 2023 Amount |
|---|---|---|
| Effective Tax Rate | 1.5% | 23.1% |
| NOL Carryforwards | $ 5.81 million | N/A |
How Smart Powerr Corp. (CREG) Makes Money
Revenue Streams
As of 2024, Smart Powerr Corp. (CREG) has reported total sales of $0 for both the nine and three months ended September 30, 2024. The company primarily operates in the energy sector, focusing on energy storage solutions and previously on waste energy recycling power generating projects.
Operating Expenses
For the nine months ended September 30, 2024, the company's operating expenses totaled $747,540, an increase from $606,105 in the same period of 2023. The breakdown of operating expenses is as follows:
| Expense Type | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| General and Administrative Expenses | $747,540 | $606,105 |
| Operating Loss | $(747,540) | $(606,105) |
Net Loss
The net loss for Smart Powerr Corp. for the nine months ended September 30, 2024, was $952,285, compared to a net loss of $518,069 for the same period in 2023. The net loss for the three months ended September 30, 2024, was $262,731, an increase from $180,723 in 2023.
Non-Operating Income and Expenses
During the nine months ended September 30, 2024, the company experienced net non-operating expenses of $190,577, a significant decline from non-operating income of $185,176 in 2023. The details of non-operating income and expenses are as follows:
| Type | 2024 (Nine Months) | 2023 (Nine Months) |
|---|---|---|
| Interest Income | $108,497 | $218,242 |
| Interest Expense | $(303,851) | $(328,200) |
| Loss on Note Conversion | $(23,238) | $(1,415) |
| Other Income (Expenses), Net | $28,015 | $296,549 |
Cash Flow Analysis
For the nine months ended September 30, 2024, the cash flows from operating activities resulted in a net cash used of $330,673. The cash flow from investing activities was positive at $68,502,372, which primarily consisted of the repayment received for short-term loan receivable.
Balance Sheet Highlights
As of September 30, 2024, Smart Powerr Corp. reported cash and equivalents of $69.12 million, total current liabilities of $24 million, and a current ratio of 5.73:1. The total liabilities and stockholders' equity stood at $137,654,603.
Future Business Direction
Smart Powerr Corp. is in the process of transitioning to an energy storage integrated solution provider, with a focus on high-growth potential industries including large-scale photovoltaic and wind power stations. The company has made significant prepayments, such as $68.17 million to Hubei Bangyu New Energy Technology Co., Ltd. for energy storage battery systems.
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Resources:
- Smart Powerr Corp. (CREG) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Smart Powerr Corp. (CREG)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Smart Powerr Corp. (CREG)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.