$ZCMD
Zhongchao Inc.
CIK:0001785566|SEC Filings
Consolidated Statements of Cash Flows - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Cash Flows from Operating Activities: | |||
| Net loss | $ (5,814,867) | $ (273,413) | $ (11,307,239) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
| Provision for expected credit losses | 873,841 | 85,644 | 1,247,907 |
| Depreciation and amortization expenses | 290,183 | 231,111 | 518,493 |
| Loss from disposal of property and equipment | 24,531 | 863 | 1,688,078 |
| Impairment of goodwill | 5,617,865 | ||
| Impairment of intangible assets | 536,206 | ||
| Amortization of right-of-use assets | 31,484 | 197,244 | 405,121 |
| Share-based compensation expenses | 3,705,336 | 109,714 | 135,547 |
| Deferred tax (benefits) expenses | (82,490) | 287,651 | (739,227) |
| Changes in fair value of short-term investments | (8,078) | (108,949) | (654,980) |
| Downward (upward) adjustments in investments in non-marketable securities | 7,040 | (4,796) | (81,036) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 1,173,881 | (2,316,625) | 2,789,772 |
| Prepayments | 59,394 | 1,285,433 | (388,706) |
| Prepayments – related party | 112,980 | ||
| Inventories | 595,340 | (10,166) | (409,771) |
| Other current assets | 47,650 | 164,354 | 27,685 |
| Accounts payable | (31,528) | (132,054) | 548,591 |
| Advances from customers | (61,004) | (620,949) | 456,078 |
| Income tax payable | (102,326) | ||
| Accrued expenses and other liabilities | 33,166 | (127,754) | 81,554 |
| Lease liabilities | 1,512 | (240,551) | (428,363) |
| Net Cash Provided by (Used in) Operating Activities | 845,391 | (1,473,243) | 54,229 |
| Cash Flows from Investing Activities: | |||
| Purchases of property and equipment | (152,561) | (3,045,183) | (839,736) |
| Proceeds from disposal of property and equipment | 31,634 | ||
| Loans to third parties | (833,226) | ||
| Repayment of loans from third parties | 277,944 | 2,390,776 | |
| Due from related parties | 220,310 | ||
| Investments in short-term investments | (9,379,764) | (10,656,730) | (6,317,257) |
| Proceeds from redemption of short-term investments | 8,805,726 | 11,421,047 | 1,592,844 |
| Investments in non-marketable securities | (100,000) | ||
| Proceeds from redemption of non-marketable securities | 195,169 | ||
| Net Cash Used in Investing Activities | (826,599) | (1,807,753) | (3,754,655) |
| Cash Flows from Financing Activities: | |||
| Proceeds from issuance of ordinary shares in connection with direct offering | 3,838,200 | ||
| Net Cash Provided by Financing Activities | 3,838,200 | ||
| Effect of exchange rate changes on cash and cash equivalents | 237,977 | (264,592) | (271,333) |
| Net decrease in cash and cash equivalents | 256,769 | 292,612 | (3,971,759) |
| Cash and cash equivalents at beginning of year | 7,841,306 | 7,548,694 | 11,520,453 |
| Cash and cash equivalents at end of year | 8,098,075 | 7,841,306 | 7,548,694 |
| Supplemental Cash Flow Information | |||
| Cash paid for income tax | 126,589 | 45,944 | 114,501 |
| Noncash investing activities | |||
| Right-of-use assets obtained in exchange for operating lease obligations | 55,765 | 71,726 | |
| Decrease in right of use assets and operating lease obligations due to termination | (34,546) | (554,265) | (579,491) |
| Addition of property and equipment from deposit and prepayment for properties | $ 233,267 | ||
Consolidated Balance Sheets - USD ($) |
Dec. 31, 2025 |
Dec. 31, 2024 |
||
|---|---|---|---|---|
| Current Assets | ||||
| Cash and cash equivalents | $ 8,098,075 | $ 7,841,306 | ||
| Short-term investments | 5,824,557 | 5,242,441 | ||
| Accounts receivable | 2,782,693 | 4,682,320 | ||
| Inventories | 586,221 | |||
| Prepayments | 23,759 | 81,247 | ||
| Other current assets | 233,042 | 273,682 | ||
| Total Current Assets | 16,962,126 | 18,707,217 | ||
| Investments in non-marketable securities | 1,230,635 | 1,089,960 | ||
| Property and equipment, net | 5,877,224 | 5,867,154 | ||
| Intangible assets, net | 7,614 | 12,177 | ||
| Right-of-use assets | 25,053 | 89,020 | ||
| Deferred tax assets | 44,194 | 119,425 | ||
| Total Assets | 24,146,846 | 25,884,953 | ||
| Current Liabilities | ||||
| Accounts payable | 526,098 | 535,073 | ||
| Advances from customers | 150,009 | 203,787 | ||
| Operating lease liabilities, current portion | 26,083 | 33,685 | ||
| Accrued expenses and other liabilities | 824,440 | 757,885 | ||
| Total Current Liabilities | 1,526,630 | 1,530,430 | ||
| Operating lease liabilities, noncurrent portion | 23,832 | |||
| Deferred tax liabilities | 22,260 | 179,638 | ||
| Total Liabilities | 1,548,890 | 1,733,900 | ||
| Commitments and Contingencies | ||||
| Equity | ||||
| Additional paid-in capital | 34,475,566 | 29,059,063 | ||
| Deferred share compensation | (1,716,667) | |||
| Statutory reserve | 1,340,331 | 1,419,190 | ||
| Accumulated deficits | (14,190,570) | (7,959,276) | ||
| Accumulated other comprehensive loss | (1,308,864) | (1,706,460) | ||
| Total Zhongchao Inc. Shareholders’ Equity | 18,630,686 | 20,837,907 | ||
| Noncontrolling interests | 3,967,270 | 3,313,146 | ||
| Total Equity | 22,597,956 | 24,151,053 | ||
| Total Liabilities and Equity | 24,146,846 | 25,884,953 | ||
| Class A Ordinary Shares | ||||
| Equity | ||||
| Ordinary Share value | [1] | 25,890 | 24,840 | |
| Class B Ordinary Shares | ||||
| Equity | ||||
| Ordinary Share value | [1] | $ 5,000 | $ 550 | |
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