Cenntro Inc.
For the period ended Jun 30, 2025. Filed Aug 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 12, 2025
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 1. Condensed Consolidated Financial Statements (Unaudited)
| ITEM 1. | CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) |
|---|
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OFOPERATIONS AND COMPREHENSIVE LOSS
(Expressed in U.S. dollars, except for number of shares)
| For the Three Months Ended June 30, · For the Six Months Ended June 30, | ||||||||
|---|---|---|---|---|---|---|---|---|
| Note · 2025 · 2024 · 2025 · 2024 | ||||||||
| Net revenues | 2(d | ) | $6,406,918 | $7,314,829 | $8,549,976 | $9,657,747 | ||
| Cost of goods sold | (6,425,822) | (5,737,212) | (8,247,353) | (7,910,923) | ||||
| Gross (loss) profit | (18,904) | 1,577,617 | 302,623 | 1,746,824 | ||||
| OPERATING EXPENSES: | ||||||||
| Selling and marketing expenses | (227,580) | (596,008) | (1,004,297) | (1,213,969) | ||||
| General and administrative expenses | (5,167,754) | (7,070,810) | (10,101,922) | (12,986,881) | ||||
| Research and development expenses | (648,861) | (1,030,953) | (1,433,039) | (2,540,874) | ||||
| Provision for credit losses | (2,035,343) | - | (2,035,343) | - | ||||
| Total operating expenses | (8,079,538) | (8,697,771) | (14,574,601) | (16,741,724) | ||||
| Loss from operations | (8,098,442) | (7,120,154) | (14,271,978) | (14,994,900) | ||||
| OTHER INCOME (EXPENSE): | ||||||||
| Interest expense, net | (156,396) | (97,788) | (275,084) | (24,546) | ||||
| Gain (loss) from long-term investments | 3 | (16,318) | (36) | (30,188) | ||||
| Change in fair value of convertible promissory notes and derivative liability | (134,161) | 9,237 | (137,290) | 8,532 | ||||
| Loss from Note Amendment | (1,756,137) | - | (1,756,137) | - | ||||
| Gain from early termination of lease contract | - | - | 1,138 | - | ||||
| Change in fair value of equity securities | 259,565 | 259,564 | 516,277 | 494,451 | ||||
| Foreign currency exchange gain (loss), net | 567,141 | (382,991) | 971,332 | (628,170) | ||||
| Loss from acquisition of Hezhe | - | (149,872) | - | (149,872) | ||||
| Gain from disposal of Cenntro Electric CICS, SRL’s equity | 1,157,556 | - | 1,157,556 | - | ||||
| Gain (loss) from cross-currency swaps | 26,445 | (4,346) | (9,695) | 1,587 | ||||
| Other (expense) income, net | (70,378) | (205,006) | 225,214 | (152,454) | ||||
| Net loss from continuing operations before taxes | (8,204,804) | (7,707,674) | (13,578,703) | (15,475,560) | ||||
| Income tax benefit | 15,408 | 4,758 | 27,040 | 16,748 | ||||
| Net loss from continuing operations | (8,189,396) | (7,702,916) | (13,551,663) | (15,458,812) | ||||
| Discontinued operations: | ||||||||
| Loss from discontinued operations, net of tax | (1,705,812) | (1,490,879) | (2,009,202) | (2,965,206) | ||||
| Net loss | (9,895,208) | (9,193,795) | (15,560,865) | (18,424,018) | ||||
| Less: net loss attributable to non-controlling interests | (5,871) | (10,968) | (17,192) | (11,040) | ||||
| Net loss attributable to the Company’s shareholders | $(9,889,337) | $(9,182,827) | $(15,543,673) | $(18,412,978) | ||||
| OTHER COMPREHENSIVE INCOME (LOSS) | ||||||||
| Foreign currency translation adjustment | 1,097,728 | (376,045) | 1,488,890 | (1,377,290) | ||||
| Unrealized holding gains for available-for-sale securities | 7,500 | - | 15,000 | - | ||||
| Total comprehensive loss | (8,789,980) | (9,569,840) | (14,056,975) | (19,801,308) | ||||
| Less: total comprehensive loss attributable to non-controlling interests | (4,547) | (7,700) | (15,524) | (7,844) | ||||
| Total comprehensive loss attributable to the Company’s shareholders | $(8,785,433) | $(9,562,140) | $(14,041,451) | $(19,793,464) | ||||
| Weighted average number of shares outstanding, basic and diluted | 36,398,582 | 30,828,795 | 33,647,880 | 30,828,795 | ||||
| Loss per common share | ||||||||
| Continuing operations - basic and diluted | (0.22) | (0.25) | (0.40) | (0.50) | ||||
| Discontinued operations - basic and diluted | (0.05) | (0.05) | (0.06) | (0.10) | ||||
| Net loss per common share - basic and diluted | (0.27) | (0.30) | (0.46) | (0.60) | ||||
UNAUDITED CONDENSED CONSOLIDATED
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