Cenntro Inc
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
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FY2023 · Filed Apr 1, 2024
CENN$0.12-15.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Income and Comprehensive Income
| For the Years Ended December 31, | |||
|---|---|---|---|
| Note | 2023 | 2022 | |
| Net revenues | 2(p) | $22,079,905 | $8,941,835 |
| Cost of goods sold | (19,821,645) | (9,455,805) | |
| Gross profit (loss) | 2,258,260 | (513,970) | |
| OPERATING EXPENSES: | |||
| Selling and marketing expenses | (7,868,773) | (6,525,255) | |
| General and administrative expenses | (35,768,786) | (32,822,709) | |
| Research and development expenses | (8,469,241) | (6,362,770) | |
| Provision for doubtful accounts | - | (5,986,308) | |
| Impairment loss of right-of-use assets | - | (371,695) | |
| Impairment loss of intangible assets | - | (2,995,440) | |
| Reverse of deferred tax liabilities | - | 898,632 | |
| Impairment loss of property, plant and equipment | (431,319) | (550,402) | |
| Total operating expenses | (52,538,119) | (54,715,947) | |
| Loss from operations | (50,279,859) | (55,229,917) | |
| OTHER EXPENSE: | |||
| Interest (income)/expense, net | 402,414 | (844,231) | |
| Gain (loss) on redemption of convertible promissory notes | 12,507 | (7,435) | |
| (Loss) income from long-term investments | 8 | (1,377,760) | (12,651) |
| Change in fair value of convertible promissory notes and derivative liability | 75,341 | (37,774,928) | |
| Change in fair value of equity securities | (2,600,721) | (240,805) | |
| Convertible bond issuance cost | - | (5,589,336) | |
| Foreign currency exchange loss, net | (848,781) | (409,207) | |
| Impairment loss of goodwill | - | (11,111,886) | |
| Loss from acquisition of Antric | (136,302) | - | |
| Loss on exercise of warrants | (228,903) | - | |
| Gain from cross-currency swaps | 8,664 | - | |
| Other income/ (expense), net | 621,633 | (924,867) | |
| Loss before income taxes | (54,351,767) | (112,145,263) | |
| Income tax expense | 14 | (8,988) | - |
| Net loss | (54,360,755) | (112,145,263) | |
| Less: net loss attributable to non-controlling interests | (161,430) | (2,057,022) | |
| Net loss attributable to the Company’s shareholders | $(54,199,325) | $(110,088,241) | |
| OTHER COMPREHENSIVE LOSS | |||
| Foreign currency translation adjustment | (1,162,080) | (3,889,706) | |
| Total comprehensive loss | (55,522,835) | (116,034,969) | |
| Less: total comprehensive loss attributable to non-controlling interests | (185,997) | (2,032,455) | |
| Total comprehensive loss to the Company’s shareholders | $(55,336,838) | $(114,002,514) | |
| Weighted average number of shares outstanding, basic and diluted * | 30,424,686 | 26,332,324 | |
| Loss per share, basic and diluted | 19 | (1.78) | (4.18) |
- On September 1, 2023 the Company held its annual general meeting of shareholders where among other proposals, the shareholders of the Company did approve the consolidation of the ordinary shares of the Company on aone-for-ten (1:10) basis with effect from December 8, 2023. Theone-for-ten reverse stock split decreased the number of outstanding shares and increased net loss per common share. All per share and share amounts presented have been retroactively adjusted for the effect of this share consolidation for all periods presented.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
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