Company: CENN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001140361-25-041657
Chunk: 108

Company: Cenntro Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 108
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30, 2024. The change of other income (expense) in 2025 compared to 2024 was primarily attributable to the decrease in loss on investment of approximately $0.6 million.

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        Change in fair value of convertible promissory notes and derivative liability

        A gain in the change in fair value of convertible promissory notes and derivative liability for the nine months ended September 30, 2025 was approximately $0.3 million.

        A gain in the change in fair value of convertible promissory notes and derivative liability for the three months ended September 30, 2025 was approximately $0.4 million.

        Change in fair value of equity securities

        A gain in the change in fair value of equity securities for the nine months ended September 30, 2025 was approximately $0.8 million compared to approximately $0.8 million of a
          gain in the change in fair value of equity securities for the nine months ended September 30, 2024.

        A gain in the change in fair value of equity securities for the three months ended September 30, 2025 was approximately $0.3 million compared to approximately $0.3 million of a
          gain in the change in fair value of equity securities for the three months ended September 30, 2024.

        Loss from Note Amendment

        The amount recorded as loss on extinguishment of convertible bonds amendment occurred in May, 2025, based on which the Parties agreed to materially change the terms and
          conditions of the original convertible bonds issued in July, 2022, refer to Note 15 for details. We considered the amendment as an extinguishment of the original convertible bonds.

        A loss from Note Amendment for the nine months ended September 30, 2025 was approximately $1.8 million.

        A loss from Note Amendment for the three months ended September 30, 2025 was nil.

        Gain from disposal of Cenntro Electric CICS, SRL’s equity

        A gain from disposal of Cenntro Electric CICS, SRL’s equity for the nine months ended September 30, 2025 was approximately $1.2 million.

        A gain from disposal of Cenntro Electric CICS, SRL’s equity for the three months ended September 30, 2025 was nil.

        Non-GAAP Financial Measures

        Adjusted EBITDA for the three and nine months ended September