XCHG Limited Form 6-K Filing

This report details the financial performance of XCHG Limited for the six-month periods ended June 30, 2025 and 2026. Revenues decreased by 17.5% to US$10.3 million in 2026 from US$12.5 million in 2025, primarily due to external policy dynamics affecting customer procurement decisions. Product revenues saw a 21.7% decrease, while service revenues doubled to US$0.8 million. Cost of revenues increased by 3.6% to US$6.3 million, leading to a 37.6% decrease in gross profit to US$4.0 million and a decline in gross margin from 51.3% to 38.8%. Operating expenses rose by 9.2% to US$15.2 million, driven by increases in general and administrative expenses (up 51.3%) and selling and marketing expenses (up 12.7%), partially offset by a 42.7% decrease in research and development expenses. The company reported a net loss of US$11.1 million for the six months ended June 30, 2026, an increase from US$7.3 million in the same period of 2025. Cash used in operating activities was US$7.5 million in 2026, compared to US$6.8 million in 2025. Financing activities provided US$5.1 million in 2026, a significant increase from a net use of US$3.5 million in 2025, mainly due to proceeds from a share offering and increased borrowings. As of June 30, 2026, the company held US$11.4 million in cash, cash equivalents, and restricted cash.