Company: XCH
Filing Date: 2025-04-23
Form Type: 20-F
Source: 0000950170-25-056976
Chunk: 111

Company: XCHG Ltd
Filing Date: 2025-04-23
Form: 20-F
Item: Item 5
Chunk 111
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  Revenues                                                                              29,424      100.0       38,512      100.0       42,204      100.0  
  Cost of revenues                                                                     (18,719      (63.6      (20,938      (54.4      (20,981      (49.7  
  Gross profit                                                                          10,705       36.4       17,574       45.6       21,223       50.3  
  Operating expenses:                                                                                                                                      
  Selling and marketing expenses                                                        (3,516      (11.9       (6,433      (16.7      (10,343      (24.5  
  Research and development expenses                                                     (2,816       (9.6       (4,061      (10.6      (12,159      (28.8  
  General and administrative expenses                                                   (2,745       (9.3      (14,025      (36.4      (10,790      (25.6  
  Total operating expenses                                                              (9,077      (30.9      (24,519      (63.7      (33,292      (78.9  
  Operating income (loss)                                                                1,655        5.6       (6,518      (16.9      (12,031      (28.5  
  Income (loss) before income taxes                                                      1,598        5.4       (8,084      (21.0      (11,941      (28.3  
  Net income (loss)                                                                      1,610        5.5       (8,084      (21.0      (11,941      (28.3  
  Comprehensive income (loss)                                                            4,193       14.3       (7,040      (18.3      (11,789      (27.9  

Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023

Revenues

Our revenues increased by 9.6% from US$38.5 million in 2023 to US$42.2 million in 2024, primarily driven by the increase in revenues generated from sales of products.

Product revenues

Our revenues generated from sales of products increased by 9.1