Company: CENN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030576
Chunk: 46

Company: Cenntro Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 46
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-moving inventories, gain from disposal of Cenntro
          Electric CICS, SRL’s equity, loss from Note Amendment, change in fair value of convertible promissory notes and derivative liability, allowance for doubtful receivables and amortization of operating lease right-of-use asset of approximately $1.5
          million, $1.0 million, $1.1 million, $1.4 million, $1.2 million, $1.8 million, $0.1 million, $2.5 million and $1.7 million, respectively, (ii) the increase in inventories, accounts receivable, prepayment and other current assets of approximately
          $0.3 million, $0.3 million and $0.5 million, respectively, (iii) increase in deferred revenue, accrued expense and other current liabilities and other non-current assets of approximately $1.2 million , $0.4 million and
          $0.1 million, respectively, (iv) decrease in accounts payable and operating lease liabilities of approximately $1.4 million and $0.8 million, respectively.

      40

Investing Activities

Net cash used in investing activities was approximately $0.6 million for the six months ended June 30, 2025. Net cash used in investing activities for
      the six months ended June 30, 2025 was primarily attributable to cash paid in purchase of plant and equipment of approximately $0.6 million.

Financing Activities

      Net cash provided by financing activities was approximately $2.9 million for the six months ended June 30, 2025. Net cash provided by financing activities for the six months
        ended June 30, 2025 was primarily attributable to the proceeds from bank loans, related parties and third parties of approximately $1.4 million, $1.0 million and $1.1 million, offset by the repayment of loans to third parties of approximately $0.4
        million and repayment to bank loan of approximately $0.2 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 2026. Pursuant to each