Company: CENN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001140361-25-041657
Chunk: 41

Company: Cenntro Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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 $0.3 million, $0.4
          million, $1.2 million, $0.3 million, $0.4 million and $0.5 million, respectively.

          31

          General and administrative expenses for the three months ended September 30, 2025 were approximately $4.1 million, a decrease of approximately $3.0 million or approximately 42.3% from approximately
            $7.1 million for the three months ended September 30, 2024. The decrease in general and administrative expenses in 2025 was primarily attributed to a decrease in legal and professional fee, leasing cost, office expense, travelling fee, freight,
            rental expense, leasehold improvement depreciation, others related to garage liability insurance and share-based compensation of approximately $0.5 million, $0.7 million, $0.5 million, $0.2 million, $0.3 million, $0.1 million, $0.2 million,
            $0.3 million and $0.1 million, respectively.

        Research and Development Expenses

        Research and development expenses for the nine months ended September 30, 2025 were approximately $2.0 million, a decrease of approximately $2.0 million or approximately 50.5%
          from approximately $3.9 million for the nine months ended September 30, 2023. The decrease in research and development expenses in 2025 was primarily attributed to the decrease in design and testing material expenditures, salary expense and
          miscellaneous expenses of approximately $0.6 million, $1.3 million and $0.1 million.

        Research and development expenses for the three months ended September 30, 2025 were approximately $0.5 million, a decrease of approximately $0.9 million or approximately 63.0%
          from approximately $1.4 million for the three months ended September 30, 2024. The decrease in research and development expenses in 2025 was primarily attributed to the decrease in design and development expenditures and salary expense of
          approximately $0.4 million and $0.5 million, respectively.

        Interest expense, net

        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 $0.4 million for the nine months ended September 30, 2025, an increase of approximately $0