Company: CENN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001140361-25-041657
Chunk: 94

Company: Cenntro Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 94
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enntro Automotive Europe GmbH (“CAE”) at the District Court of Bochum, requesting repayment of the purchase price of EUR 158,277.99 plus 9% interest over the base interest rate, against the return of six electric commercial vehicles delivered by CAE on December 23, 2022. As of the date of this report, CAE is preparing documents and arguments to defend.

            On April 16, 2025, Shenzhen Jiangxin Automation Technology Co., Ltd. (“Jiangxin”) filed a lawsuit with the People’s Court of Yuhang District, Hangzhou, against Hangzhou Ronda Tech Co., Limited (“Ronda”), seeking payment of equipment purchase price totaling RMB 170,555 plus accrued interest. Jiangxin claims that Ronga has failed to pay the remaining balance due under three Equipment Purchase Agreements signed during 2021 and 2022. On September 26, 2025, Ronda submitted its defense and counterclaim, asserting that Jiangxin had not fulfilled its contractual obligations, including the delivery of complete technical documents, installation and test run, and therefore the conditions for payment had not been satisfied. Ronda also reserved the right to terminate the agreements and seek a full refund of all payments made. The case remains pending before the court.

            NOTE 19 - RELATED PARTY TRANSACTIONS AND BALANCES

            The table below sets forth the major related parties and their relationships with the Company:

                 Name of related parties:       Relationship with the Company     Zhejiang RAP       An entity significantly influenced by Hangzhou Ronda Tech Co., Limited, the Company’s subsidiary     Billy Rafael Romero Del Rosario       A shareholder who owns 1% equity interest of Cenntro Electric CICS, SRL and is the CEO of Cenntro Electric CICS, SRL as of December 31, 2024. Since April 1, 2025,  Billy Rafael Romero Del Rosario was not a related party of the Company with the disposal of Cenntro Electric CICS, SRL.     Zhongchai Holding (Hongkong) Limited(“Zhongchai”)       An entity ultimately controlled by Peter Z. Wang, the CEO of the Company     Hangzhou Greenland Energy Technologies Co., Ltd.(“Greenland”)       An entity ultimately controlled by Peter Z. Wang, the CEO of the Company     HEVI Corp.       An entity ultimately controlled by Peter