Company: CENN
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001140361-25-030576
Chunk: 40

Company: Cenntro Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 40
---
 and unpaid purchases from HWE. Net interest expense was approximately $0.3 million for the six months ended June 30, 2025, representing an increase of approximately $0.3 million compared to the approximately $0.02 million in
        interest expense for the six months ended June 30, 2024.
       
      Interest expense, net, mainly consists of interest expense on convertible bonds, offset by the interest income from deposit, short-term
          investment and unpaid purchases from HWE. Net interest expense was approximately $0.2 million for the three months ended June 30, 2025, representing an increase of approximately $0.06 million compared to the approximately $0.1 million in
        interest income for the three months ended June 30, 2024.

Other income (expense), net

      Other income, net for the six months ended June 30, 2025 was approximately $0.2 million, representing a change of approximately $0.4 million compared to approximately $0.2
        million of other expense, net for the six months ended June 30, 2024. The change of other income (expense) in 2025 compared to 2024 was primarily attributable to i) the decrease in loss on disposal of PPE and other loss of approximately $0.07
        million and $0.08 million, respectively, ii) an increase of approximately $0.06 million in income from government subsidies, iii) an increase of approximately $0.2 million in litigation compensation from Fujian Newlongma Automotive Co., Ltd.

        34

      Other expense, net for the three months ended June 30, 2025 was approximately $0.07 million, representing a decrease of approximately $0.1 million compared to approximately
        $0.2 million of other expense, net for the three months ended June 30, 2024. The decrease of other expense in 2025 compared to 2024 was primarily attributable to the decrease in loss on disposal of PPE and other loss of approximately $0.06 million
        and $0.07 million, respectively.

 Change in fair value of equity securities 

      A loss in the change in fair value of equity securities for the six months ended June 30, 2025 was
          approximately $0.1 million.
       
      A loss in the change in fair value of equity securities for the three months ended June 30, 2025