Digital Currency X Technology Inc.
Digital Currency X Technology Inc.
05/07/2026 | Press release | Distributed by Public on 05/07/2026 14:32
PRO FORMA FINANCIAL INFORMATION (Form 6-K)
PRO FORMA FINANCIAL INFORMATION
The following unaudited pro forma financial information has been derived from our historical audited financial statements for the year ended December 31, 2025 incorporated by reference from our Annual Report on Form 20-F for the year ended December 31, 2025.
The unaudited pro forma financial information is presented for informational purposes only, and is not necessarily indicative of future results of operations and should not be viewed as indicative of future results of operations. You should read the following unaudited pro forma financial information together with "Management's Discussion and Analysis of Financial Condition and Results of Operations" and our historical consolidated financial statements, including the related notes, all of which are incorporated herein by reference from our Annual Report on Form 20-F for the year ended December 31, 2025.
DIGITAL CURRENCY X TECHNOLOGY INC. AND SUBSIDIARIES
UNAUDITED PRO FORMA COMBINED BALANCE SHEETS
(Amounts in thousands of US$, except for number of shares and per share data)
|
December 31, 2025 |
Pro Forma Adjustments |
Note |
Pro Forma Combined |
|||||||||||||
| ASSETS | ||||||||||||||||
| Current Assets | ||||||||||||||||
| Cash and cash equivalents | $ | 3,942 | $ | - | $ | 3,942 | ||||||||||
| Cryptocurrencies | 401,963 | - | 401,963 | |||||||||||||
| Current assets of discontinued operations | 460,779 | (460,779 | ) | (a) | - | |||||||||||
| Total Current Assets | 866,684 | (460,779 | ) | 405,905 | ||||||||||||
| Total Assets | $ | 866,684 | $ | (460,779 | ) | $ | 405,905 | |||||||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||||||||||||
| Current Liabilities | ||||||||||||||||
| Accruals and other current liabilities | $ | 14 | - | $ | 14 | |||||||||||
| Accruals and other current liabilities, related parties | 82 | - | 82 | |||||||||||||
| Current liabilities of discontinued operations | 709,102 | (709,102 | ) | (a) | - | |||||||||||
| Total Current Liabilities | 709,198 | (709,102 | ) | 96 | ||||||||||||
| Total Liabilities | 709,198 | (709,102 | ) | 96 | ||||||||||||
| Commitments and Contingencies | ||||||||||||||||
| Shareholders' Equity | ||||||||||||||||
| Class A Ordinary Shares (US$3.6 per share, 831,833,333 shares authorized; 19,560,823 shares issued, 19,560,821 shares outstanding as of December 31, 2025) | 70,419 | - | 70,419 | |||||||||||||
| Class B Ordinary Shares (US$3.6 per share, 1,500,000 shares authorized; 1,334 shares issued and outstanding as of December 31, 2025) | 5 | - | 5 | |||||||||||||
| Treasury Shares (2 ordinary shares as of December 31, 2025） | (500 | ) | - | (500 | ) | |||||||||||
| Additional paid-in capital | 445,411 | - | 445,411 | |||||||||||||
| Statutory reserve | 6,656 | (6,656 | ) | (a) | - | |||||||||||
| Accumulated deficits | (370,995 | ) | 261,469 | (a) | (109,526 | ) | ||||||||||
| Accumulated other comprehensive loss | (30 | ) | 30 | (a) | - | |||||||||||
| Total Digital Currency X Technology Inc. Shareholders' Equity | 150,966 | 254,843 | 405,809 | |||||||||||||
| Non-controlling interests | 6,520 | (6,520 | ) | (a) | - | |||||||||||
| Total Equity | 157,486 | 248,323 | 405,809 | |||||||||||||
| Total Liabilities and Shareholders' Equity | $ | 866,684 | $ | (460,779 | ) | $ | 405,905 | |||||||||
DIGITAL CURRENCY X TECHNOLOGY INC. AND SUBSIDIARIES
UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF OPERATIONS
(Amounts in thousands of US$, except for number of shares and per share data)
|
For the Year Ended December 31, 2025 |
Pro Forma Adjustments |
Note |
Pro Forma Combined |
|||||||||||||
| Revenues | $ | - | $ | - | $ | - | ||||||||||
| Cost of revenues | - | - | - | |||||||||||||
| Gross profit | - | - | - | |||||||||||||
| Operating Expenses | ||||||||||||||||
| Selling, general and administrative | 8,398 | - | 8,398 | |||||||||||||
| Total Operating Expenses | 8,398 | - | 8,398 | |||||||||||||
| Loss from Operations | (8,398 | ) | - | (8,398 | ) | |||||||||||
| Other income (expense): | ||||||||||||||||
| Realized loss on sale/exchange of cryptocurrencies | (4,268 | ) | - | (4,268 | ) | |||||||||||
| Gain on fair value changes of cryptocurrencies | 83,330 | 83,330 | ||||||||||||||
| Other expenses | (1 | ) | - | (1 | ) | |||||||||||
| Total other income, net | 79,061 | - | 79,061 | |||||||||||||
| Income before income taxes | 70,663 | - | 70,663 | |||||||||||||
| Provision for income tax | - | - | - | |||||||||||||
| Net income from continuing operations | 70,663 | - | 70,663 | |||||||||||||
| Discontinued operations: | ||||||||||||||||
| Net loss from discontinued operations, net of income taxes | (100,737 | ) | 100,737 | (b) | - | |||||||||||
| Gain from disposal of discontinued operations, net of income taxes | - | 261,469 | (e) | 261,469 | ||||||||||||
| Net (loss) income from discontinued operations | (100,737 | ) | 362,206 | 261,469 | ||||||||||||
| Net (loss) income | (30,074 | ) | 362,206 | 332,132 | ||||||||||||
| Less: Net loss attributable to non-controlling interests | (26,460 | ) | 26,460 | (b) | - | |||||||||||
| Deemed dividend attributable to down round feature of warrants | 6,251 | - | 6,251 | |||||||||||||
| Net (Loss) Income Attributable to Digital Currency X Technology Inc. | $ | (9,865 | ) | $ | 335,746 | $ | 325,881 | |||||||||
| Weighted average number of ordinary shares | ||||||||||||||||
| Basic and diluted weighted average ordinary shares outstanding | 2,337,678 | 2,337,678 | ||||||||||||||
| Loss per Share | ||||||||||||||||
| Basic and diluted net (loss) income per share attributable to Digital Currency X Technology Inc. | $ | (4.22 | ) | $ | 139.40 | |||||||||||
DIGITAL CURRENCY X TECHNOLOGY INC. AND SUBSIDIARIES
UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF OPERATIONS
(Amounts in thousands of US$, except for number of shares and per share data)
|
For the Year Ended December 31, 2024 |
Pro Forma Adjustments |
Note |
Pro Forma Combined |
|||||||||||||
| Revenues | $ | - | $ | - | $ | - | ||||||||||
| Cost of revenues | - | - | - | |||||||||||||
| Gross profit | - | - | - | |||||||||||||
| Operating Expenses | ||||||||||||||||
| Selling, general and administrative | 2,425 | - | 2,425 | |||||||||||||
| Total Operating Expenses | 2,425 | - | 2,425 | |||||||||||||
| Loss from Operations | (2,425 | ) | - | (2,425 | ) | |||||||||||
| Income before income taxes | (2,425 | ) | - | (2,425 | ) | |||||||||||
| Provision for income tax | - | - | - | |||||||||||||
| Net income from continuing operations | (2,425 | ) | - | (2,425 | ) | |||||||||||
| Discontinued operations: | ||||||||||||||||
| Net loss from discontinued operations, net of income taxes | (66,580 | ) | 66,580 | (c) | - | |||||||||||
| Gain from disposal of discontinued operations, net of income taxes | - | 191,250 | (e) | 191,250 | ||||||||||||
| Net (loss) income from discontinued operations | (66,580 | ) | 257,830 | 191,250 | ||||||||||||
| Net (loss) income | (69,005 | ) | 257,830 | 188,825 | ||||||||||||
| Less: Net loss attributable to non-controlling interests | (22,110 | ) | 22,110 | (c) | - | |||||||||||
| Net (Loss) Income Attributable to Digital Currency X Technology Inc. | $ | (46,895 | ) | $ | 235,720 | $ | 188,825 | |||||||||
| Weighted average number of ordinary shares | ||||||||||||||||
| Basic and diluted weighted average ordinary shares outstanding | 4,511 | 4,511 | ||||||||||||||
| Loss per Share | ||||||||||||||||
| Basic and diluted net (loss) income per share attributable to Digital Currency X Technology Inc. | $ | (10,396.74 | ) | $ | 41,858.79 | |||||||||||
DIGITAL CURRENCY X TECHNOLOGY INC. AND SUBSIDIARIES
UNAUDITED PRO FORMA CONDENSED COMBINED STATEMENTS OF OPERATIONS
(Amounts in thousands of US$, except for number of shares and per share data)
|
For the Year Ended December 31, 2023 |
Pro Forma Adjustments |
Note |
Pro Forma Combined |
|||||||||||||
| Revenues | $ | - | $ | - | $ | - | ||||||||||
| Cost of revenues | - | - | - | |||||||||||||
| Gross profit | - | - | - | |||||||||||||
| Operating Expenses | ||||||||||||||||
| Selling, general and administrative | 3,593 | - | 3,593 | |||||||||||||
| Total Operating Expenses | 3,593 | - | 3,593 | |||||||||||||
| Loss from Operations | (3,593 | ) | - | (3,593 | ) | |||||||||||
| Income before income taxes | (3,593 | ) | - | (3,593 | ) | |||||||||||
| Provision for income tax | - | - | - | |||||||||||||
| Net income from continuing operations | (3,593 | ) | - | (3,593 | ) | |||||||||||
| Discontinued operations: | ||||||||||||||||
| Net loss from discontinued operations, net of income taxes | (94,908 | ) | 94,908 | (d) | - | |||||||||||
| Gain from disposal of discontinued operations, net of income taxes | - | 314,235 | (e) | 314,235 | ||||||||||||
| Net (loss) income from discontinued operations | (94,908 | ) | 409,143 | 314,235 | ||||||||||||
| Net (loss) income | (98,501 | ) | 409,143 | 310,642 | ||||||||||||
| Less: Net loss attributable to non-controlling interests | (30,390 | ) | 30,390 | (d) | - | |||||||||||
| Net (Loss) Income Attributable to Digital Currency X Technology Inc. | $ | (68,111 | ) | $ | 378,753 | $ | 310,642 | |||||||||
| Weighted average number of ordinary shares | ||||||||||||||||
| Basic and diluted weighted average ordinary shares outstanding | 4,401 | 4,401 | ||||||||||||||
| Loss per Share | ||||||||||||||||
| Basic and diluted net (loss) income per share attributable to Digital Currency X Technology Inc. | $ | (15,476.19 | ) | $ | 70,584.41 | |||||||||||
Note 1 - Description of Transactions
Disposition of Chijet Inc. and its subsidiaries
Historically Digital Currency X Technology Inc. (the "Company"), collectively with its subsidiaries, was engaged in the development, manufacture, sales, and service of new energy vehicles, hybrid vehicles and traditional fuel vehicles in China.
On March 18, 2026, the Company entered into an agreement to dispose its interests in Chijet Inc. and its subsidiaries (the "Disposed Group") to an unrelated third party for a cash consideration of US$1. The disposal was completed on March 20, 2026. The Disposed Group represented the Company's new energy vehicle business and constituted a strategic shift that had a major effect on the Company's operations and financial results, as it generated substantially all of the Company's historical revenues. Pursuant to the Disposition SPA, the Purchaser agreed to purchase the Disposed Group in exchange for nominal cash consideration of US$1 (the "Purchase Price"). Upon the closing of the transaction contemplated by the Disposition SPA, the Purchaser became the sole shareholder of Disposed Group and as a result, assume all assets and liabilities of Disposed Group and subsidiaries owned or controlled by Disposed Group.
Note 2 - Basis of Presentation
Disposition of Chijet Inc. and its subsidiaries
The unaudited pro forma condensed combined financial statements give effect to the disposition of the legacy business under the deconsolidation method of accounting in accordance with Financial Accounting Standards Board (FASB) Accounting Standard Codification ("ASC") Topic 810, Consolidation ("ASC 805").
The unaudited pro forma condensed combined balance sheet as of December 31, 2025 assumes that disposition of the Disposed Group was completed on December 31, 2025.
The unaudited pro forma condensed combined statement of operations information for the year ended December 31, 2025 and gives pro forma effect to the disposition of the Disposed Group as if it had occurred on January 1, 2025.
The unaudited pro forma condensed combined statement of operations information for the year ended December 31, 2024 and gives pro forma effect to the disposition of the Disposed Group as if it had occurred on January 1, 2024.
The unaudited pro forma condensed combined statement of operations information for the year ended December 31, 2023 and gives pro forma effect to the disposition of the Disposed Group as if it had occurred on January 1, 2023.
Note 3 - Notes and Adjustments to Unaudited Pro Forma Condensed Combined Balance Sheet Adjustments
The pro forma adjustments to the unaudited pro forma condensed combined balance sheet consist of the following:
| (a) | Reflects the disposal of the Disposed Group for a consideration price of $1 on March 20, 2026. |
Note 4 - Notes and Adjustments to Unaudited Pro Forma Condensed Combined Statements of Operations
The pro forma adjustments to the unaudited pro forma condensed combined statements of operations consist of the following:
| (b) | Unaudited pro forma condensed consolidated income statement information for the year ended December 31, 2025, reflects the disposal of the Disposed Group as if the disposal of the Disposed Group had occurred on January 1, 2025. | |
| (c) | Unaudited pro forma condensed consolidated income statement information for the year ended December 31, 2024, reflects the disposal of the Disposed Group as if the disposal of the Disposed Group had occurred on January 1, 2024. | |
| (d) | Unaudited pro forma condensed consolidated income statement information for the year ended December 31, 2023, reflects the disposal of the Disposed Group as if the disposal of the Disposed Group had occurred on January 1, 2023. | |
| (e) | Reflects the gain from disposal of the Disposed Group. |
Digital Currency X Technology Inc. published this content on May 07, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 07, 2026 at 21:11 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]