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.
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Item 8. Consolidated Statements of Cash Flows
| For the Year Ended December 31, | |||
|---|---|---|---|
| 2023 · 2022 | |||
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net loss | $(54,360,755) | $(112,145,263) | |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization | 1,670,980 | 953,872 | |
| Amortization and interest of operating lease right-of-use asset | 4,495,244 | 1,616,853 | |
| Impairment of property, plant and equipment | 431,319 | 550,402 | |
| Impairment of intangible assets | - | 2,995,440 | |
| Reversal of deferred tax liabilities | - | (898,632) | |
| Impairment of right-of-use assets | - | 371,695 | |
| Impairment of goodwill | - | 11,111,886 | |
| Written-down of inventories | 658,622 | 2,155,400 | |
| Provision for doubtful accounts | - | 5,986,308 | |
| Convertible promissory notes issuance costs | - | 5,589,336 | |
| (Gain) Loss on redemption of convertible promissory notes | (12,507) | 7,435 | |
| Loss on exercise of warrants | 228,903 | - | |
| Changes in fair value of convertible promissory notes and derivative liabilities | (75,341) | 37,774,928 | |
| Changes in fair value of equity securities | 2,600,721 | 240,805 | |
| Foreign currency exchange loss, net | 1,527,077 | 409,207 | |
| Share-based compensation expense | 5,230,273 | 4,031,629 | |
| Loss (Gain) from disposal of plant and equipment | 55,391 | (10,334) | |
| Loss from long-term investments | 1,377,760 | 12,651 | |
| Income from short-term investment | (22,918) | - | |
| Loss from acquisition of Antric Gmbh | 136,302 | - | |
| Deferred income taxes | (15,930) | - | |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (5,871,181) | 233,570 | |
| Inventories | (12,178,463) | (20,483,127) | |
| Prepayment and other assets | (4,624,170) | (6,753,851) | |
| Amounts due from/to related parties | 11,799 | (1,190,573) | |
| Accounts payable | 3,100,835 | (2,144,725) | |
| Accrued expense and other current liabilities | (1,325,504) | 1,358,858 | |
| Contractual liabilities | 2,516,789 | 633,825 | |
| Long-term payable | - | (700,000) | |
| Operating lease assets and liabilities | (4,012,410) | (1,108,721) | |
| Net cash used in operating activities | (58,457,164) | (69,401,126) | |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Purchase of equity investment | (880,932) | (4,256,276) | |
| Purchase of convertible note from Acton | (600,000) | - | |
| Purchase of wealth management products purchased from banks | (4,236,740) | - | |
| Purchase of land, plant and equipment | (7,636,020) | (3,285,072) | |
| Purchase of land use rights and property | (1,114,943) | (16,456,355) | |
| Acquisition of CAE’s equity interests | (1,924,557) | (3,612,717) | |
| Payment of expense for acquisition of CAE’s equity interests | - | (348,987) | |
| Cash acquired from acquisition of CAE | - | 1,118,700 | |
| Acquisition of Antric Gmbh’s equity interests | (1) | - | |
| Cash acquired from acquisition of Antric Gmbh | 1,376 | - | |
| Purchase of equity securities | - | (30,000,000) | |
| Proceeds from disposal of property, plant and equipment | 3,661 | 309 | |
| Loans provided to third parties | - | (1,323,671) | |
| Repayment of loans from related parties | - | 1,280,672 | |
| Net cash (used in) provided by investing activities | (16,388,156) | (56,883,397) | |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Repayment of loans to related parties | - | (1,726,614) | |
| Repayment of loans to third parties | - | (1,113,692) | |
| Repayments of bank loans | (601,476) | - | |
| Purchase of CAE’s loan | - | (13,228,101) | |
| Reduction of capital | - | (13,930,000) | |
| Proceed from issuance of convertible promissory notes | - | 54,069,000 | |
| Redemption of convertible promissory notes | (47,534,119) | (3,727,500) | |
| Proceed from exercise of share-based awards | - | 14,386 | |
| Payment of expense for the reverse recapitalization | - | (904,843) | |
| Net cash provided by financing activities | (48,135,595) | 19,452,636 | |
| Effect of exchange rate changes on cash | (1,543,989) | (736,274) | |
| Net (decrease)increase in cash, cash equivalents and restricted cash | (124,524,904) | (107,568,161) | |
| Cash, cash equivalents and restricted cash at beginning of year | 154,096,801 | 261,664,962 | |
| Cash, cash equivalents and restricted cash at end of year | $29,571,897 | $154,096,801 | |
| SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | |||
| Interest paid | $1,468,397 | $369,410 | |
| Income tax paid | $4,797 | $ | - |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | |||
| Cashless exercise of warrants | $2,168,185 | $18,549,864 | |
| Non-cash capital injection to Robostreet by i-Chassis | $250,000 | $ | - |
| Convention from debt to equity interest of HW Electro Co., Ltd. | $1,000,000 | $ | - |
| Non-cash recognition of new leases | $14,947,878 | $ | - |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.