Company: CENN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001140361-25-041657
Chunk: 15

Company: Cenntro Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 15
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 ended September 30, 2025 and 2024, the Company recognized $1,048,505 and $946,071 revenue that was included in contractual liabilities as of January 1, 2025 and 2024, respectively.

      The following table provided information about receivables and contractual liabilities from contracts with customers:

              September 30,
              2025

              December 31,
              2024

              (Unaudited)

              Accounts receivable, net

              $
            
            2,874,308 

              $
            
             4,688,322 

              Less: accounts receivable, net, held for discontinued operation

            (1,276,020 
            
              )

             (1,406,457 
            
              )

              Accounts receivable, net, held for continuing operation

            1,598,288 

             3,281,865 

              Contractual liabilities

              $
            
             3,783,681 

              $
            
             4,202,001 

              Less: contractual liabilities, held for discontinued operation

             (84,634 
            
              )

             (80,696 
            
              )

              Contractual liabilities, held for continuing operation

             3,699,047 

             4,121,305 

        (e)  Recently issued accounting standards pronouncements   

      The Company is an “emerging growth company” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, EGC can delay adopting new or revised accounting
        standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. As a result, the Company’s operating results and financial statements may not be comparable to the operating results and
        financial statements of other companies who have adopted the new or revised accounting standards.

      In November 2023, the Financial Accounting Standards Board (“FASB”) issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements

          to Reportable Segment Disclosures”, which is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The purpose of the amendment is to enable investors to
        better understand an entity’s overall performance and assess potential future cash flows. The guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15,