Sunrise New Energy Co ( (EPOW) ) has released a notification of late filing.
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E-Power Inc. (formerly Sunrise New Energy Co., Ltd.) has filed a Form 12b-25 to notify investors of a delay in submitting its Form 20-F (Yearly Report) for the fiscal year ended December 31, 2025. The company’s annual Form 20-F (Yearly Report) is not ready by the SEC deadline for foreign private issuers, prompting this formal late-filing notice.
Management cites time constraints tied to compiling and reviewing the detailed information required in the Form 20-F (Yearly Report) as the key reason for the delay. The company explains that completing the necessary data and disclosures on time would have required unreasonable effort and expense, and that it is still finalizing the information needed for the filing.
E-Power Inc. states that it expects to file the delayed Form 20-F (Yearly Report) no later than the fifteenth calendar day after the original due date. The company confirms that all other required periodic reports over the past 12 months have been filed, which may reassure investors about its overall reporting discipline despite this specific delay.
The company is already flagging a material deterioration in its 2025 financial performance compared with 2024, based on internal, unaudited figures. Revenues are projected to drop about 28.6% to approximately $46.4 million, mainly driven by shifts in the customer portfolio, changes in product mix, and lower sales volumes to existing customers.
Cost of revenues is expected to fall in line with the top-line decline, down roughly 26.2% to about $52.3 million. Operating expenses are seen decreasing by around 10.4% to approximately $9.7 million, showing some cost control, but not enough to offset overall margin pressure and weaker sales.
Other expenses are anticipated to surge by about 670.9% to roughly $10.6 million, driven largely by higher financing and equity-related costs. The company points to a $2.5 million increase in interest expense tied to debt financing and about $6.5 million of share subscription discount arising from equity issuances priced below the fair value of its ordinary shares.
As a result of these combined factors, net loss is expected to widen by approximately 45.5%, from $18 million in 2024 to about $26.2 million in 2025. Management cautions that these numbers are preliminary, based on internal information, and remain subject to adjustment once the audit of the 2025 financial statements is completed, making them forward-looking and not final.
E-Power Inc. emphasizes that it is working to complete the Form 20-F (Yearly Report) as soon as practicable within the allowed extension period. The notification is signed by Chief Executive Officer Haiping Hu on April 30, 2026, underscoring executive-level responsibility for both disclosure and ongoing regulatory compliance efforts.
Spark’s Take on EPOW Stock
According to Spark, TipRanks’ AI Analyst, EPOW is a Neutral.
The score is held down primarily by weak financial performance (losses, negative equity, and cash flow pressure). Technical indicators also remain bearish with the stock trading below key moving averages, despite oversold readings. Valuation is not meaningfully supportive due to a negative P/E and no dividend yield data.
To see Spark’s full report on EPOW stock, click here.
More about Sunrise New Energy Co
E-Power Inc., formerly known as Sunrise New Energy Co., Ltd., is a China-based company headquartered in Zibo City, Shandong Province. The business focuses on energy-related products and operates in the People’s Republic of China, serving a portfolio of industrial customers with shifting product and customer mixes.
Average Trading Volume: 138,600
Technical Sentiment Signal: Sell
Current Market Cap: $29.64M
For a thorough assessment of EPOW stock, go to TipRanks’ Stock Analysis page.