Company: CENN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030576
Chunk: 19

Company: Cenntro Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 19
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 8.25% for the first HK$2.0 million profits, and 16.5% for the subsequent profits, it is exempted from the Hong Kong income tax on its foreign-derived income. CEGI’s subsidiaries, CAG HK and Sinomachinery HK, are registered in Hong Kong as intermediate holding companies, subject to an income tax rate of 16.5% for taxable income earned in Hong Kong. Payments of dividends from Hong Kong subsidiaries to CEGI are not subject to any Hong Kong withholding tax.

    PRC

    Pursuant to the tax laws and regulations of the PRC, the Company’s applicable enterprise income tax (“EIT”) rate is 25%. Jiangsu Tooniu Tech Co. Limited and Hangzhou Hengzhong Tech Co., Ltd qualify as Small and micro enterprises in the PRC, and are entitled to pay a reduced income tax rate of 5%.

      Mexico

      Cennatic Energy S. de R.L. de C.V. is subject to a tax rate of 30%.

      Colombia

      Starting from 2023, the income tax rate of companies in Colombia was gradually increased from 30% to 35% and remaining at 35% in 2024. Cenntro Automotive S.A.S. and Cenntro Electric Colombia S.A.S. are subject to a tax rate of 35% for the six months ended June 30, 2025 and 2024.

    The components of losses (income) before income taxes are summarized as follows:

            For the Six Months
            Ended June 30,

             2025

            2024

            (Unaudited)

            (Unaudited)

            PRC

            $
          
            5,217,096  

            $
          
           4,842,423 

            US

           5,187,770 

           4,834,603 

            Europe

           3,401,675 

           6,359,899 

            Australia

            1,498,725  

           1,703,066 

            Others

           282,639 

           718,742 

            Total losses before income taxes

            15,587,905  

           18,458,733 

            Less: losses before income taxes for discontinued operations

           (2,009,202 
          
            )

           (2,983,173 
          
            )

            Losses before income