Cenntro Inc.
For the period ended Sep 30, 2025. Filed Nov 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.
Sep 30, 2025 · Filed Nov 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 OF OPERATIONS AND
COMPREHENSIVE LOSS
(Expressed in U.S. dollars, except for number of shares and per share data)
| For the Three Months Ended September 30, · For the Nine Months Ended September 30, | |||||||
|---|---|---|---|---|---|---|---|
| Note · 2025 · 2024 · 2025 · 2024 | |||||||
| Net revenues | 2(d) | $4,570,218 | $16,230,299 | $13,120,194 | $25,888,046 | ||
| Cost of goods sold | (4,466,900) | (9,932,846) | (12,714,253) | (17,843,769) | |||
| Gross profit | 103,318 | 6,297,453 | 405,941 | 8,044,277 | |||
| OPERATING EXPENSES: | |||||||
| Selling and marketing expenses | (811,999) | (4,361,736) | (1,816,296) | (5,575,705) | |||
| General and administrative expenses | (4,091,359) | (7,092,014) | (14,193,281) | (20,078,895) | |||
| Research and development expenses | (518,852) | (1,401,991) | (1,951,891) | (3,942,865) | |||
| Provision for credit losses | (1,554,841) | - | (3,590,184) | - | |||
| Total operating expenses | (6,977,051) | (12,855,741) | (21,551,652) | (29,597,465) | |||
| Loss from operations | (6,873,733) | (6,558,288) | (21,145,711) | (21,553,188) | |||
| OTHER INCOME (EXPENSE): | |||||||
| Interest expense, net | (112,706) | (34,198) | (387,790) | (58,744) | |||
| Loss from long-term investments | (26) | (94) | (62) | (30,282) | |||
| Change in fair value of convertible promissory notes and derivative liability | 421,038 | (6,725) | 283,748 | 1,807 | |||
| Loss from Note Amendment | - | - | (1,756,137) | - | |||
| Loss from early termination of lease contract | (538,317) | - | (537,179) | - | |||
| Change in fair value of equity securities | 262,416 | 262,417 | 778,693 | 756,868 | |||
| Foreign currency exchange gain, net | 242,904 | 1,670,234 | 1,214,236 | 1,042,064 | |||
| Loss from acquisition of Hezhe | - | - | - | (149,872) | |||
| Gain from disposal of Cenntro Electric CICS, SRL’s equity | - | - | 1,157,556 | - | |||
| Gain (loss) from cross-currency swaps | 4,401 | (705) | (5,294) | 882 | |||
| Gain on exercise of warrants | - | 910 | - | 910 | |||
| Other income (expense), net | 200,566 | (647,434) | 425,780 | (799,888) | |||
| Net loss from continuing operations before taxes | (6,393,457) | (5,313,883) | (19,972,160) | (20,789,443) | |||
| Income tax benefit | 12,969 | 12,334 | 40,009 | 29,082 | |||
| Net loss from continuing operations | (6,380,488) | (5,301,549) | (19,932,151) | (20,760,361) | |||
| Discontinued operations: | |||||||
| Loss from discontinued operations, net of tax | (334,600) | (3,680,038) | (2,343,802) | (6,645,244) | |||
| Net loss | (6,715,088) | (8,981,587) | (22,275,953) | (27,405,605) | |||
| Less: net loss attributable to non-controlling interests | (8,797) | (9,815) | (25,989) | (20,855) | |||
| Net loss attributable to the Company’s shareholders | $(6,706,291) | $(8,971,772) | $(22,249,964) | $(27,384,750) | |||
| OTHER COMPREHENSIVE INCOME (LOSS) | |||||||
| Foreign currency translation adjustment | (51,102) | 916,164 | 1,437,788 | (461,126) | |||
| Unrealized holding gains for available-for-sale securities | 7,500 | - | 22,500 | - | |||
| Total comprehensive loss | (6,758,690) | (8,065,423) | (20,815,665) | (27,866,731) | |||
| Less: total comprehensive loss attributable to non-controlling interests | (8,207) | (5,226) | (23,731) | (13,070) | |||
| Total comprehensive loss attributable to the Company’s shareholders | $(6,750,483) | $(8,060,197) | $(20,791,934) | $(27,853,661) | |||
| Weighted average number of shares outstanding, basic and diluted | 51,217,179 | 30,841,106 | 39,568,669 | 30,832,928 | |||
| Loss per common share | |||||||
| Continuing operations - basic and diluted | (0.12) | (0.17) | (0.50) | (0.67) | |||
| Discontinued operations - basic and diluted | (0.02) | (0.12) | (0.06) | (0.22) | |||
| Net loss per common share - basic and diluted | (0.14) | (0.29) | (0.56) | (0.89) | |||
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
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