Company: CENN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001140361-25-041657
Chunk: 42

Company: Cenntro Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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.3 million compared to the approximately $0.06 million in interest expense for the nine months ended September 30,
          2024. The increase was primarily attributable to the decrease in interest income from deposit of approximately $0.4 million, offset by the increase on interest income on short-term investment of approximately $0.03 million.

        Interest expense, net, mainly consists of interest expense on convertible bonds, offset by the interest income from deposit, short-term investment and unpaid purchases from HWE.
          Net interest expense was approximately $ 0.1 million for the three months ended September 30, 2025, an increase of approximately $0.08 million compared to the approximately $0.03 million in interest expense for the three months ended September
          30, 2024. The increase was primarily attributable to an increase in interest expense to convertible bonds of approximately $0.07 million, and (ii) the decrease on interest income from deposit of approximately $0.3 million, offset by the increase
          on interest income from short-term investment of approximately $0.2 million.

        Other income (expense), net

        Other income, net for the nine months ended September 30, 2025 was approximately $0.4 million, representing a change of approximately $1.2 million compared to approximately $0.8
          million of other expense, net for the nine months ended September 30, 2024. The change of other income (expense) in 2025 compared to 2024 was primarily attributable to i) the decrease in loss on disposal of PPE, loss on investment and other loss
          of approximately $0.09 million, $0.6 million and $0.1 million, respectively, ii) an increase of approximately $0.3 million in litigation compensation from Fujian Newlongma Automotive Co., Ltd.

        Other income, net for the three months ended September 30, 2025 was approximately $0.2 million, representing a change of approximately $0.8 million compared to approximately
          $0.6 million of other expense, net for the three months ended September 30, 2024. The change of other income (expense) in 2025 compared to 2024 was primarily attributable to the decrease in loss on investment of approximately $0.6 million.

          32

        Change in fair value of convertible promissory notes and derivative liability

        A gain in the change in fair value of convertible