Company: CENN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030576
Chunk: 38

Company: Cenntro Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 38
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 $0.8 million.
       
      Gross loss for the three months ended June 30, 2025 was approximately $0.02 million, a change of approximately $1.6 million from approximately $1.6 million of gross profit for
        the three months ended June 30, 2024. For the three months ended June 30, 2025 and 2024, our overall gross margin was approximately -0.3% and 21.6%, respectively. Our gross margin of vehicle sales for the three months ended June 30, 2025 and 2023
        was -1.5% and 22.1%, respectively. The decrease of our overall gross profit was caused by the decrease in the gross profit of our vehicle sales of approximately $2.2 million and the decrease in the gross profit of our spare-part sales of
        approximately $0.1 million, offset by the decrease in the inventory write-down of approximately $0.8 million.

Selling and Marketing Expenses

      Selling and marketing expenses for the six months ended June 30, 2025 were approximately $1.0 million, a decrease of approximately $0.2
          million or approximately 17.3% from approximately $1.2 million for the six months ended June 30, 2024. The decrease in selling and marketing expenses in 2025 was primarily attributed to the decrease in salary expenses, share-based
        compensations and service fee related to European market and distribution channel research of approximately $0.2 million, $0.1 million and $0.1 million, respectively, offset by the increase in freight of
          approximately $0.2 million.
       
      Selling and marketing expenses for the three months ended June 30, 2025 were approximately $0.3 million, a decrease of approximately $0.4 million or approximately 61.8% from
        approximately $0.6 million for the three months ended June 30, 2024. The decrease in selling and marketing expenses in 2025 was primarily attributed to the decrease in expenses, service fee and freight of approximately $0.1 million, $0.1 million
        and $0.2 million, respectively.

General and Administrative Expenses

      General and administrative expenses for the six months ended June 30, 2025 were approximately $10.1 million, a decrease of approximately $2.9 million or approximately 22.2%
        from approximately