Jiuzi Holdings, Inc. operates in two main segments: new energy battery sales primarily in China's Pearl River Delta and electric vehicle production and sales in Southeast Asia. The company nearly doubled revenues from $1.4 million to $2.88 million USD between FY2024 and FY2025, driven predominantly by resales of third-party sourced equipment (99.53% of revenue). Despite this growth, Jiuzi sustained significant operating losses (-$10 million USD in FY2025), though improved from prior periods, and continued to generate negative operating cash flows. Growth strategies focus on franchise expansion across key Chinese cities, broadening EV offerings in Southeast Asia, strategic partnerships including a $30 million investment to enhance EV charging infrastructure, and a $60 million private placement expected in early 2026. High customer and supplier concentration pose margin and operational risks, while internal control weaknesses and ongoing litigation present governance challenges. Dividends and buybacks are not reported or planned given reinvestment needs.