{"url_path":"/sec/cenn/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1707919/0001140361-26-021332-index.html","accession_number":"0001140361-26-021332","cik":"0001707919","ticker":"CENN","issuer_name":"Cenntro Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1707919/0001140361-26-021332-index.html","primary_entity_key":"0001707919","primary_entity_name":"Cenntro Inc."},"word_count":1706,"has_tables":true,"body_markdown":"UNITED STATES\n\nSECURITIES AND EXCHANGE COMMISSION\n\n \n\nWashington, D.C. 20549\n\n \n\nFORM 10-Q\n\n \n\n(Mark One)\n\n \n\n☒\nQuarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\n\n \n\nFor the quarterly period ended: March 31, 2026\n\n \n\nOR\n\n \n\n☐\nTransition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934\n\n \n\nFor the transition period from ______ to _______.\n\n \n\nCommission file number: 001-38544\n\n \n\nCENNTRO INC.\n\n(Exact name of registrant as specified in its charter)\n\nNevada\n\n93-2211556\n\n     \n\n(State or other jurisdiction of incorporation or organization)\n\n(IRS Employer Identification Number)\n\n \n\n33 Wood Avenue South, Suite 600, PMB #3572\n\n \n\nIselin, New Jersey 08830\n\n \n\n(Address of principal executive offices, including zip code)\n\n \n\nRegistrant’s telephone number, including area code (732) 820-6757\n\n \n\nSecurities registered under Section 12(b) of the Exchange Act:\n\nTitle of each class:\n \nTrading Symbol(s)\n \nName of each exchange on which\n\nregistered:\n\n       \n\nCommon Stock, $0.0001 par value per share\n \nCENN\n \nThe Nasdaq Capital Market\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the\nregistrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.\n\n \n\nYes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large\naccelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer\n\n☐\n\nAccelerated filer\n\n☐\n\nNon-accelerated filer\n\n☒\n\nSmaller reporting company\n\n☒\n\n \nEmerging growth company\n\n☒\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.) Yes ☐ No ☒\n\n \n\nThe registrant had 1,465,452 of the registrant’s common stock per value $0.0001 per share, issued and outstanding as of May 13, 2026.\n\nTABLE OF CONTENTS\n\n[PART I - FINANCIAL INFORMATION](#PARTI)\n\n1\n\n[Item 1. Condensed Consolidated Financial Statements (Unaudited)](#CONDENSEDCONSOLIDATEDFINA)\n\n1\n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#MANAGEMENTSDISCUSSIONANDA)\n\n25\n\n[Item 3. Quantitative and Qualitative Disclosure About Market Risk](#QUANTITATIVEANDQUALITATIV)\n\n36\n\n[Item 4. Controls and Procedures](#CONTROLSANDPROCEDURES)\n\n36\n\n[PART II - OTHER INFORMATION](#PARTII)\n\n37\n\n[Item 1. Legal Proceedings](#LEGALPROCEEDINGS)\n\n37\n\n[Item 1A. Risk Factors](#RISKFACTORS)\n\n40\n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#UNREGISTEREDSALESOFEQUITY)\n\n40\n\n[Item 3. Defaults Upon Senior Securities](#DEFAULTSUPONSENIORSECURIT)\n\n40\n\n[Item 4. Mine Safety Disclosures](#MINESAFETYDISCLOSURES)\n\n40\n\n[Item 5. Other Information](#OTHERINFORMATION)\n\n40\n\n[Item 6. Exhibits](#Exhibits)\n\n40\n\n[SIGNATURES](#SIGNATURES)\n\n41\n\n[Table of Contents](#TABLEOFCONTENTS)\n\nForward-Looking Statements\n\n \n\nThis Quarterly Report of Cenntro Inc. (“we,” “us,” “our,” “Cenntro” and the “Company”) contains statements that constitute “forward-looking statements” within the meaning of the safe harbor\nprovisions of the U.S. Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical facts may be deemed to be forward-looking statements. These statements appear in several different places in this Quarterly\nReport and, in some cases, can be identified by words such as “anticipates”, “estimates”, “projects”, “expects”, “contemplates”, “intends”, “believes”, “plans”, “may”, “will” or their negatives or other comparable words, although not all\nforward-looking statements contain these identifying words. Forward-looking statements in this Quarterly Report may include, but are not limited to, statements and/or information related to: our financial performance and projections; our business\nprospects and opportunities; our business strategy and future operations; the projection of timing and delivery of products in the future; projected costs; expected production capacity; expectations regarding demand and acceptance of our products;\nestimated costs of machinery to equip a new production facility; trends in the market in which we operate; the plans and objectives of management; our liquidity and capital requirements, including cash flows and uses of cash; trends relating to our\nindustry; plans relating to our electric vehicles (“EVs”); and plans and intentions to regain compliance with the listing requirements of The Nasdaq Stock Market LLC (“Nasdaq”), including, among other things, through a reverse stock split.\n\n \n\nWe have based these forward-looking statements on our current expectations about future events on information that is available as of the date of this Quarterly Report, and any forward-looking\nstatements made by us speak only as of the date on which they are made. While we believe these expectations are reasonable, such forward-looking statements are inherently subject to risks and uncertainties, many of which are beyond our control. Our\nactual future results may differ materially from those discussed or implied in our forward-looking statements for various reasons, including, our ability to change the direction of the Company; our ability to keep pace with new technology and\nchanging market needs; our capital needs, and the competitive environment of our business. Additional Factors that could contribute to such differences include, but are not limited to:\n\n \n\n●\n\ngeneral economic and business conditions, including changes in interest rates;\n\n●\n\nprices of other EVs, costs associated with manufacturing EVs and other economic conditions;\n\n●\n\nthe effect of an outbreak of disease or similar public health threat, or natural phenomena on the Company’s business;\n\n●\n\nthe impact of political unrest, natural disasters or other crises, terrorist acts, acts of war and/or military operations, and our ability to maintain or broaden our business relationships and develop new\nrelationships with strategic alliances, suppliers, customers, distributors or otherwise;\n\n●\n\nbreaches in data security, failure of information security systems, cyber-attacks or other security or privacy-related incidents affecting us or our suppliers;\n\n●\n\nthe ability of our information technology systems or information security systems to operate effectively;\n\n●\n\nactions by government authorities, including changes in government regulation and ongoing and anticipated changes in the United States political environment, including those resulting from the current\npresidential administration, and its control of Congress;\n\n●\n\nthe implementation of changes to the existing tariff regime by the current presidential administration and measures taken in response to such tariffs by foreign governments;\n\n●\n\nrisks associated with obtaining orders and executing upon such orders or the unavailability, reduction, elimination and adverse application of government subsidies and incentives or any challenge to or failure\nby the federal government, states or other governmental entities to adopt or enforce regulations such as the California Air Resource Board’s Advanced Clean Fleet regulation;\n\n●\n\nchanges in attitude toward environmental, social, and governance matters among regulators, investors, and parties with which we do business\n\n●\n\nuncertainties associated with legal proceedings;\n\n●\n\nchanges in the size of the EV market;\n\n●\n\nfuture decisions by management in response to changing conditions;\n\n●\n\nthe Company’s ability to execute prospective business plans;\n\n●\n\nmisjudgments in the course of preparing forward-looking statements;\n\n●\n\nthe Company’s ability to raise sufficient funds to carry out its proposed business plan;\n\n[Table of Contents](#TABLEOFCONTENTS)\n\n●\n\ninability to keep up with advances in EV and battery technology;\n\n●\n\ninability to design, develop, market and sell new EVs and services that address additional market opportunities to generate revenue and positive cash flows;\n\n●\n\ndependency on certain key personnel and any inability to retain and attract qualified personnel;\n\n●\n\ninexperience in mass-producing EVs;\n\n●\n\ninability to succeed in establishing, maintaining and strengthening the Cenntro brand;\n\n●\n\ndisruption of supply or shortage of raw materials and supply chain disruptions, including constraints on steel, semiconductors and other material inputs and resulting cost increases impacting our Company;\n\n●\n\nour ability to receive sufficient proceeds from our current and any future financing arrangements to meet our immediate liquidity needs and the potential costs, dilution and restrictions resulting from any such\nfinancing; our ability to maintain compliance with the listing requirements of the Nasdaq and the impact of any steps we have taken, including reverse splits of our common stock, on our operations, stock price and future access to funds\n\n●\n\nthe unavailability, reduction or elimination of government and economic incentives;\n\n●\n\nfailure to manage future growth effectively; and\n\n●\n\nthe other risks and uncertainties detailed from time to time in our filings with the United States Securities and Exchange Commission (“SEC”), including but not limited to those described under “Risk Factors”\nin Part I, Item 1A of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on April 15, 2026 (the “Form 10-K”).\n\n \n\nForward-looking statements speak only as of the date hereof. Although management has attempted to identify important factors that could cause actual results to differ materially from those\ncontained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There is no assurance that forward-looking statements will prove to be accurate, as actual results and future\nevents could differ materially from those anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. These cautionary remarks expressly qualify, in their entirety, all\nforward-looking statements attributable to our Company or persons acting on our Company’s behalf. We do not undertake to update any forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting\nsuch statements, except as, and to the extent required by, applicable securities laws.\n\n[Table of Contents](#TABLEOFCONTENTS)\n\nINDEX\n\nPage\n\n[Item 1. Interim Financial Statements](#FINANCIALSTATEMENTS)\n\n1\n\n[Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three Months Ended March 31, 2026 and 2025](#UNAUDITEDCONDENSEDCONSOLI)\n\n1\n\n[Condensed Consolidated Balance Sheet as of March 31, 2026 (Unaudited) and December 31, 2025](#CONDENSEDCONSOLIDATEDBALA)\n\n2\n\n[Unaudited Condensed Consolidated Statements of Changes in Equity for the Three Months Ended March 31, 2026 and 2025](#CHANGESINEQUITY)\n\n3\n\n[Unaudited Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025](#CASHFLOWS)\n\n4\n\n[Notes to the Unaudited Condensed Consolidated Financial Statements](#NOTES)\n\n5\n\n[Table of Contents](#TABLEOFCONTENTS)\n\nPART I"}