Company: XCH
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056976
Chunk: 116

Company: XCHG Ltd
Filing Date: 2025-04-23
Form: 20-F
Item: Item 5
Chunk 116
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 are evaluating strategies to obtain additional funding for future operations. These strategies may include, but are not limited to, obtaining equity financing, issuing debt or entering into other financing arrangements. However, we may be unable to access future equity or debt financing when needed. As such, there can be no assurance that we will be able to obtain additional liquidity when needed or under acceptable terms, if at all.

The following table presents our consolidated cash flow data for the periods indicated.

                                                                                                         For the Year Ended December 31,                                                         
                                                                                                         2022                                            2023                  2024              
                                                                                                         US$                                             US$                   US$               
                                                                                                         (in thousands)                                                                          
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Net cash provided by (used in) operating activities                                                                                           849                (5,576                (7,202  
  Net cash provided by (used in) investing activities                                                                                         1,222                 2,266                  (534  
  Net cash provided by financing activities                                                                                                   2,278                10,743                19,150  
  Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash                                            (507                  (411                  (333  
  Net increase in cash, cash equivalents and restricted cash                                                                                  3,842                 7,022                11,081  
  Cash, cash equivalents and restricted cash at the beginning of the year                                                                     4,828                 8,670                15,693  
  Cash, cash equivalents and restricted cash at the end of the year                                                                           8,670                15,693                26,774  

Operating activities

Net cash used in operating activities was US$7.2 million in 2024. The difference between our net loss of US$11.9 million and the net cash used in operating activities was mainly due to (i) share-based compensation expenses of US$7.0 million in relation to the 171,995,643 shares we granted in December 2024 under the 2023 Share Plan II, (ii) an increase in accounts payable of US$2.4 million, primarily attributable to our efforts in obtaining longer credit terms from suppliers and our business growth in general, and (iii) an increase in contract liabilities of US$2.0 million, primarily attributable to our business growth in general; partially offset by (i) an increase in pre