Company: CENN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030576
Chunk: 39

Company: Cenntro Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 39
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 $13.0 million for the six months ended June 30, 2024. The decrease in general and administrative expenses in 2025 was primarily attributed to a decrease in salary expense, office expenses, leasing cost, freight, rental expense
        and share-based compensation of approximately $1.4 million, $0.5 million, $0.5 million, $0.2 million, $0.1 million and $0.2 million, respectively.

        33

      General and administrative expenses for the three months ended June 30, 2025 were approximately $5.2 million, a decrease of approximately $1.9 million or approximately 26.9%
        from approximately $7.1 million for the three months ended June 30, 2024. The decrease in general and administrative expenses in 2025 was primarily attributed to a decrease in salary and social insurance, office expenses, freight, leasing cost,
        rental expense and share-based compensation of approximately $1.2 million, $0.3 million, $0.1 million, $0.2 million, $0.1 million and $0.1 million, respectively, offset by the increase in legal and professional fee of approximately $0.2 million.

Research and Development Expenses

      Research and development expenses for the six months ended June 30, 2025 were approximately $1.4 million, a decrease of approximately $1.1 million or approximately 43.6% from
        approximately $2.5 million for the six months ended June 30, 2024. The decrease in research and development expenses in 2025 was primarily attributed to the decrease in design and development expenditures, share-based compensations, miscellaneous
        expenses and salary expense of approximately $0.1 million, $0.03 million, $0.09 million and $0.8 million, respectively.
       
      Research and development expenses for the three months ended June 30, 2025 were approximately $0.6 million, a decrease of approximately $0.4 million or approximately 37.1% from
        approximately $1.0 million for the three months ended June 30, 2024. The decrease in research and development expenses in 2025 was primarily attributed the decrease in salary expense of approximately $0.4 million.

Interest expense, net

      Interest expense, net, mainly consists of interest expense on convertible bonds, offset by the interest income from deposit, short-term
          investment