Company: CENN
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001140361-25-041657
Chunk: 83

Company: Cenntro Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part II, Item 8
Chunk 83
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,212 and $641,712, respectively, as of September 30, 2025 and December 31, 2024.

        12

          
            CENNTRO INC.
            NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

NOTE 7 – INVESTMENT IN EQUITY SECURITY

      Investment in equity security consisted of the following:

              September 30, 2025

              December 31, 2024

              (Unaudited)

              MineOne Fix Income Investment I L.P (1)

              $
            
             27,383,012 

              $
            
             26,604,319 

              Total investment in equity security

             27,383,012 

             26,604,319 

              Less: investment in equity security, held for discontinued operations

             - 

             - 

              Investment in equity security, held for continuing operations

              $
            
             27,383,012 

              $
            
             26,604,319 

        (1)   On October 12, 2022, the Company entered into a subscription agreement with MineOne Partners Limited, a partnership incorporated in the British Virgin Islands, for purchase of $25 million partnership shares in MineOne Fix Income Investment I L.P (“MineOne”), over which MineOne Partners Limited is the General Partner. The Company held 100% of the limited partnership equity of MineOne and was entitled to a fixed return of 5% per annum on the investment amount, and had the rights to sell all or any portion of its partnership interest after the second anniversary of the investment if the Company gave at least ten business days’ prior notice to the General Partner and received the consent of General Partner. MineOne focuses on private credit loans, convertible bridge, and personal factoring. The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase and reevaluates such determinations at each balance sheet date. The private equity fund is measured at fair value with gains and losses recognized in earnings.    

      For the nine months ended September 30, 2025 and 2024, the Company received distribution of nil and $500,000 of investment in MineOne, respectively.

      For the nine months ended September 30, 2025 and 2024, the Company recorded upward adjustments of $778,693 and $756,868 for changes in fair value of the equity investment, held for continuing operations, respectively