Company: CENN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001140361-25-041657
Chunk: 105

Company: Cenntro Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 105
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, a decrease of approximately $6.2 million from approximately $6.3 million of gross
          profit for the three months ended September 30, 2024. For the three months ended September 30, 2025 and 2024, our overall gross margin was approximately 2.3% and 38.8%, respectively. Our gross margin of vehicle sales for the three months ended
          September 30, 2025 and 2023 was 0.8% and 38.9%, respectively. The decrease of our overall gross profit was mainly caused by the decrease in the gross profit of our vehicle sales and spare-part sales of approximately $6.0 million and $0.3 million,
          respectively.

        Selling and Marketing Expenses

        Selling and marketing expenses for the nine months ended September 30, 2025 were approximately $1.8 million, a decrease of approximately $3.8 million or approximately 67.4% from
          approximately $5.6 million for the nine months ended September 30, 2024. The decrease in selling and marketing expenses in 2025 was primarily attributed to the decrease in marketing expenses, marketing related professional fee, share-based
          compensations and salary expense of approximately $2.7 million, $0.9 million, $0.1 million and $0.6 million, respectively, offset by the increase in after-sale services of approximately $0.6 million.

        Selling and marketing expenses for the three months ended September 30, 2025 were approximately $0.8 million, a decrease of approximately $3.6 million or approximately 81.4%
          from approximately $4.4 million for the three months ended September 30, 2024. The decrease in selling and marketing expenses in 2025 was primarily attributed to the decrease in marketing expenses, salary expense, freight and marketing related
          professional fee of approximately $2.6 million, $0.4 million, $0.2 million and $0.7 million, respectively, offset by the increase in after-sale services of approximately $0.5 million.

        General and Administrative Expenses
        
        General and administrative expenses for the nine months ended September 30, 2025 were approximately $14.2 million, a decrease of approximately $5.9 million or approximately 29.3%
          from approximately $20.1 million for the nine months ended September 30, 2024. The decrease in general and administrative expenses