松树电力控股公司 2025年季度报告

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o As of May12, 2025,17,826,560shares of the Registrant’s common stock, $0.0001 par value, were outstanding. CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTSThis Quarterly Report on Form 10-Q includes forward-looking statements within the meaning of the Private Securities LitigationReform Act of 1995 that relate to future events or our future financial performance including, but not limited to, statements regardingour plans, strategies and prospects, both business and financial, our growth plans, future financial and operating results, costs andexpenses, the outcome of contingencies, financial condition, results of operations, liquidity, cost savings, business strategies, and otherstatements that are not historical facts. Forward-looking statements generally are characterized by the use of certain words or phrases(and their derivatives) such as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “opportunity,” “plan,” “goals,” “target”“predict,” “potential,” “estimate,” “should,” “will,” “would,” “continue,” “likely,” and similar expressions that predict or indicatefuture events or trends or that are not statements of historical matters. These statements are based upon our current plans andstrategies, management’s assumptions and expectations about future events, and market conditions, which management believes arereasonable as of the date of this report, and reflect our current assessment of the risks and uncertainties related to its business and aremade as of the date of this report. Although we believe that our expectations with respect to forward-looking statements are based systems may not develop or take longer to develop than we anticipate.•Disruptions to our solar monitoring systems could negatively impact our revenues and increase our expenses. including as a result of unsuitable solar and meteorological conditions.•Problems with performance of our solar energy systems may cause us to incur expenses, may lower the value of our solar energy systems, and may damage our market reputation.•Developments in technology or improvements in distributed solar energy generation and related technologies or components •We may not be able to identify strategic acquisition or strategic relationship opportunities, we may not be able to completestrategic acquisitions or strategic relationships, or we may experience difficulties in integrating strategic acquisitions. •We may not be able to develop and market new products and services. •We are subject to risks relating to our outstanding debt, including risks relating to rising interest rates and the risk that we may not have sufficient cash flow to pay or refinance our debt. wildfires, or pandemics.•We are subject to cybersecurity risks. •We are subject to risks relating to general economic, financial, legal, political, and business conditions and changes in •Our business may be adversely affected by economic conditions, including market interest rates, inflation, recessionary conditions and United States (the “U.S.”) and global trade policies and tensions, including changes in, or the imposition of,tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom. expense, hinder execution of business and growth strategy, or impact the price of our common stock. combinations or other ownership changes.•We are subject to risks associated with construction, regulatory compliance, risks relating to changes in, and our compliance •Violations of export control and/or economic sanctions laws and regulations to which we are subject could have a material •Our insurance coverage may not be adequate to protect us from all business risks. •We face competition from traditional energy companies as well as solar and other renewable energy companies. 3 Report on Form 10-Q are more fully described in Part II, Item 1A under the heading “Risk Factors” and elsewhere in this QuarterlyReport on Form 10-Q and in Part I, Item 1A under the heading “Risk Factors”, within our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”) on March31, 2025 (the “AnnualReport”). These factors are not exhaustive. Other sections of this Quarterly Report on Form 10-Q, such as Management’s Discussion on its business or the extent to which any factor or combination of factors may cause actual results to differ materially from thosecontained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to theCompany or persons acting on its behalf