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Microvast Holdings, Inc. MVST PRC — Tax rates substantially lower

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Other financials

Income statement

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Revenue$60.6M-48.0%
Gross profit$19.2M-55.5%
Operating income-$7.9M-152%
Net income$48.2M-22.0%
EPS (diluted)-$0.04-180%

Balance sheet

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Cash & equivalents$126.1M+2.5%
Total debt$93.3M-65.4%
Total equity$466.1M+2.6%
Total assets$987.5M+0.5%

Cash flow

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Operating cash flow-$22.8M-418%
CapEx$2.9M+21.7%
Free cash flow-$25.7M-632%

Valuation

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Market cap$291.45M-70.4%
Enterprise value$258.58M-79.3%
P/E118.8×
P/S0.8×-1.5×

Profitability

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Gross margin26.4%-8.6pp
Operating margin9.7%+5.4pp
Net margin-28.8%-5.3pp
FCF margin6.9%

Returns & leverage

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Return on equity-30.3%+5.7pp
Debt / equity0.2×-0.4×
Current ratio-0.4×

Where this comes from

Reported directly by Microvast Holdings, Inc. in its filing.

Tagged under the XBRL concept mvst:TaxRatesSubstantiallyLower.

The source filing: Microvast Holdings, Inc.’s 10-K, filed March 16, 2026.

Filed
Mar 16, 2026, 5:21 PM EDT
Fiscal year
FY2025
Accession
0001628280-26-018264

Under the Enterprise Income Tax Law of the PRC (the “EIT Law”), PRC enterprise income tax is generally calculated at 25% of the Company’s subsidiaries located in the PRC as determined in accordance with the EIT Law, except for certain subsidiaries which have tax rates substantially lower than 25% due to incentive policies.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Microvast Holdings, Inc.'s PRC — tax rates substantially lower?
Microvast Holdings, Inc. (MVST) reported PRC — tax rates substantially lower of 6.3% in Q4 2025.
How has Microvast Holdings, Inc.'s PRC — tax rates substantially lower changed year-over-year?
Microvast Holdings, Inc.'s PRC — tax rates substantially lower decreased by 0.0% year-over-year, from 6.3% to 6.3%.
What is the long-term trend for Microvast Holdings, Inc.'s PRC — tax rates substantially lower?
Over 3 years (2022 to 2025), Microvast Holdings, Inc.'s PRC — tax rates substantially lower has grown at a 0.0% compound annual growth rate (CAGR), from 25% to 25%.
What does PRC — tax rates substantially lower mean?
Indicates the preferential or reduced tax rate applied to specific business activities or entities within the PRC region compared to the standard corporate tax rate. Investors use this to understand the extent of tax incentives or government subsidies that enhance the regional bottom line.

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