Company: CENN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001140361-25-041657
Chunk: 113

Company: Cenntro Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 113
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 of Cenntro Electric CICS, SRL’s equity of approximately $1.7 million, $2.0 million, $1.3 million, $4.1 million,
            $0.5 million, $1.2 million, $2.1 million, $1.8 million, $0.3 million, $0.8 million, $0.1 million, $0.5 million and $1.2 million respectively, (ii) the decrease in inventories, accounts receivable, prepayment and other current assets, accounts
            payable and operating lease liabilities of approximately $1.4 million, $0.3 million, $1.2 million, $1.6 million and $0.9 million, respectively, (iii) the increase in other non-current assets, amount due to related parties and accrued expense
            and other current liabilities of approximately $0.2 million, $0.1 million and $1.1 million, respectively.

        Investing Activities

        Net cash used in investing activities was approximately $0.6 million for the nine months ended September 30, 2025. Net cash used in investing activities for the nine months ended
          September 30, 2025 was primarily attributable to cash paid in purchase of plant and equipment of approximately $0.7 million, offset by the proceeds from disposal of property, plant and equipment of approximately $0.2 million.

        Financing Activities

        Net cash provided by financing activities was approximately $2.7 million for the nine months ended September 30, 2025. Net cash provided by financing activities for the nine
          months ended September 30, 2025 was primarily attributable to the proceeds from bank loans, related parties and third parties of approximately $1.7 million, $1.0 million and $1.4 million, offset by the repayment of loans to third parties of
          approximately $0.4 million, the repayment of loans to related parties of approximately $0.2 million and repayment to bank loan of approximately $0.8 million.

        Contractual Obligations

        In June 2021, we signed two non-cancellable operating lease agreements for approximately 11,700 square feet and 3,767 square feet, respectively, of two floors of an office
          building in Hangzhou, China. These two leases renewed on May 2025. The lease period for each lease agreement began in June 2025 and ends in May 202