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Cenntro Inc. (CENN) entered an Exchange Agreement with About Investment Pte. Ltd. on October 23, 2025. The company issued a new secured convertible promissory note in the principal amount of $4,000,000 at 8% interest per annum, maturing on January 19, 2026. In a default, interest increases to the lesser of 10% per annum or the legal maximum, and the holder may accelerate repayment at 110% of the then‑outstanding principal plus accrued interest.
The transaction relied on the Section 3(a)(9) exemption as an exchange with an existing holder. As of the report date, About Pte converted the Exchange Note, and the company issued 12,000,000 shares of common stock in accordance with the note’s terms. This converts a debt claim into equity while adding new shares to the company’s capital base.
Cenntro Inc. (CENN) reported a Nasdaq compliance update. The company received an additional 180 days—until April 20, 2026—to regain compliance with Nasdaq’s $1.00 minimum closing bid price requirement under Listing Rule 5550(a)(2). This follows the initial 180‑day period granted on April 25, 2025, which ran through October 22, 2025.
The notice was issued by Nasdaq’s Listing Qualifications Staff on October 23, 2025. Cenntro also issued a press release with further details.
Cenntro Inc. held its annual stockholder meeting on August 15, 2025, with 29,108,119 votes present, which the company states constituted a quorum. Stockholders approved the election of director nominees and ratified the appointment of GGF CPA LTD as the company's independent registered public accounting firm for fiscal 2025.
The specific tallies reported: Peter Z. Wang received 22,817,046 votes for and 953,882 withheld; Gang "Gavin" Lin received 23,223,682 for and 547,246 withheld. The audit firm ratification recorded 27,879,363 for and 880,850 against. The filing also shows 1,453,825 votes recorded on the adjournment proposal. The report includes an Inline XBRL cover page exhibit.
Cenntro Inc. reported continuing-operation revenue of $8.55 million for the six months ended June 30, 2025, down from $9.66 million a year earlier, and total net loss attributable to shareholders of $15.54 million for the same period, an improvement from $18.41 million in the prior-year period. Gross profit on continuing operations was $302,623 for the six months, while total operating expenses were $14.57 million, producing a loss from operations of $14.27 million.
The company classified three European entities as discontinued operations and measured them as held for sale, recording a six-month loss from discontinued operations of $2.01 million. Cash and cash equivalents were $5.99 million at June 30, 2025, down from $12.55 million at year-end. Total assets stood at $124.40 million with total liabilities of $44.65 million and total equity of $79.75 million. Notable items include a $1.16 million gain on disposal of Cenntro Electric CICS, SRL, a $1.76 million loss from a Note amendment, and an increase in provision for credit losses to $3.59 million.