微宏控股 2026年季度报告

FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 ORTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_______to_______ Commission File Number: 001-38826 Microvast Holdings, Inc.(Exact name of registrant as specified in its charter) Delaware83-2530757(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.) 12603 Southwest Freeway, Suite 300Stafford, Texas77477 (281) 491-9505(Registrant’s telephone number, including area code) N/A (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2) has been subject to such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smallerreporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerAccelerated filerNon-accelerated filerSmaller reporting companyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YesNo As of May4, 2026,there were 333,157,384 shares of the Company’s common stock, par value $0.0001, issued andoutstanding. MICROVAST HOLDINGS, INC.FORM 10-QFor the Quarter Ended March31, 2026 Table of Contents PagePART I. FINANCIAL INFORMATION1Item 1.Consolidated Financial Statements1Consolidated Balance Sheets1Consolidated Statements of Operations3Consolidated Statements of Comprehensive Income4Consolidated Statements of Changes in Stockholders’ Equity5Consolidated Statements of Cash Flows6Notes toConsolidated Financial Statements8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations25Item 3.Quantitative and Qualitative Disclosures About Market Risk34Item 4.Controls and Procedures36PART II. OTHER INFORMATION37Item 1.Legal Proceedings37Item 1A.Risk Factors37Item 2.Unregistered Sales of Equity Securities and Use of Proceeds from Registered Securities37Item 3.Defaults Upon Senior Securities37Item 4.Mine Safety Disclosures37Item 5.Other Information37Item 6.Exhibits38 CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS The discussions in this quarterly report on Form 10-Q (“Quarterly Report”) contain “forward-looking statements” within themeaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on assumptions with respect tothe future and management's current expectations, involve certain risks and uncertainties and are not guarantees. These forward-looking statements include, but are not limited to, statements about our future results of operations and financial position, ouroperational performance, our anticipated growth and business strategy, our anticipated development, commercialization, and marketadoption of Microvast's KAF™ ("Kids Are Future") integrated electric powertrain solution, our future capital expenditures and debtservice obligations, the projected costs, prospects and plans and objectives of management for future operations, including regardingexpected growth and demand for our products and introduction of new products, the adoption of such offerings by customers, ourexpectations relating to backlog, pipeline and contracted backlog, current expectations relating to legal proceedings, and impacts andbenefits from the Inflation Reduction Act of 2022 as well as any other proposed or recently enacted legislation. In some cases, youmay also identify forward-looking statements by words such as “anticipate,” “believe,” “can,” “continue,” “could,”“estimate,”“expect,” “intend,” “may,” “might,” “objective,” “plan,” “project,” “predict,” “outlook” “should,” “will,” “would,” or the negative ofthese terms, or other comparable terminology intended to identify stat