E-Power Inc.

E-Power Inc. is a Cayman Islands holding company that conducts a substantial portion of its operations in China. As of the date of this annual report, the company's business is primarily conducted through two main channels. First, Sunrise Guizhou, a joint venture formed by Zhuhai Zibo (a wholly owned subsidiary of E-Power Inc.) and other partners, manufactures and sells graphite anode materials. Second, Global Mentor Board (Zibo) Information Technology Co., Ltd. ("SDH" or "the VIE"), a limited liability company organized under the laws of the PRC, operates a knowledge sharing platform in China. SDH initially began as a consulting company providing enterprise services to small and medium-sized enterprises in the PRC in December 2014, and subsequently launched a knowledge sharing and enterprise service platform in May 2016. Beginning in fiscal year 2022, E-Power Inc. started transitioning its core business from knowledge sharing and enterprise services to the sales of graphite anode material products. Investors in E-Power Inc. hold shares in the Cayman Islands company, not directly in the PRC operating entities. E-Power Inc. consolidates the financial results of SDH and its subsidiaries in its consolidated financial statements under U.S. GAAP through VIE Agreements dated June 10, 2019.