RELATED PARTY TRANSACTIONS AND BALANCES

12 Months Ended

Dec. 31, 2025

RELATED PARTY TRANSACTIONS AND BALANCES [Abstract]

RELATED PARTY TRANSACTIONS AND BALANCES

NOTE 22 - RELATED PARTY TRANSACTIONS AND BALANCES

The table below sets forth the major related parties and their relationships with the Company:

Name of related parties:	Relationship with the Company
Zhejiang RAP	An entity significantly influenced by Hangzhou Ronda Tech Co., Limited, the Company’s subsidiary
Billy Rafael Romero Del Rosario	A shareholder who owns 1% equity interest of Cenntro Electric CICS, S.R.L. and is the CEO of Cenntro Electric CICS, S.R.L. as of December 31, 2024. Since April 1, 2025,  Billy Rafael Romero Del Rosario was not a related party of the Company with the disposal of Cenntro Electric CICS, S.R.L.
Zhongchai Holding (Hong Kong) Limited(“Zhongchai”)	An entity ultimately controlled by Peter Z. Wang, the CEO of the Company
Hangzhou Greenland Energy Technologies Co., Ltd.(“Greenland”)	An entity ultimately controlled by Peter Z. Wang, the CEO of the Company
HEVI Corp.	An entity ultimately controlled by Peter Z. Wang, the CEO of the Company
Hangzhou Hezhe	An entity significantly influenced by Hangzhou Ronda Tech Co., Limited, the Company’s subsidiary since June 23, 2021. On May 8, 2024, Hangzhou Hezhe become a subsidiary of the Company.

Related party transactions

During the years ended December 31, 2025 and 2024, the Company had the following material related party transactions for the continuing operation.

	For the Years Ended December 31,
	2025		2024
Interest income from a related party
Zhejiang RAP	$	-	$	22,227
Interest expense to a related party
Zhongchai		49,675		-
Interests-bearing loan from a related party
Zhongchai		1,000,000		-
Repayment of Interests-bearing loan to a related party
Zhongchai		160,000		-
Interests-bearing loan to a related party
Greenland		27,826		-
Repayment of interests-bearing loan principal and interest from a related party
Greenland		28,301		-
Prepayment of operating fund to a related party
Billy Rafael Romero Del Rosario (1)		25,384		675,058
Reimbursement from a related party
Billy Rafael Romero Del Rosario		88,665		810,873
Rent income from a related party
HEVI Corp.		66,912		-
Sales of spare-part to a related party
HEVI Corp.		25,462		-
Purchase of raw materials from related parties
Hangzhou Hezhe (2)		-		3,760
Refund on the purchase of the raw materials
Hangzhou Hezhe (2)		-		69,417

(1) This was the payment to this related party for daily operating reimbursement with no interest and without expiration date in Cenntro Electric CICS, S.R.L. As of December 31, 2025, Cenntro Electric CICS, S.R.L. was no longer a subsidiary of the Company.

(2) The transaction for the year ended December 31, 2024 of this related party consisted of transaction only before it becoming a subsidiary of the Company, which was from January to April 2024.

Amounts due from Related Parties

The following table presents amounts due from related parties as of December 31, 2025 and December 31, 2024.

	December 31, 2025		December 31, 2024
Zhejiang RAP (1)	$	12,243	$	11,729
HEVI CORP. (2)		25,462		-
Total amounts due from a related party		37,705		11,729
Less: amounts due from a related party, held for discontinued operations		-		-
Amounts due from a related party, held for continuing operations	$	37,705	$	11,729

(1) The balance mainly represents the interest income receivable from the related party.

(2) The balance mainly represents the receivable from sales of spare parts from the related party.

Amounts due to a related party - current

The following table presents amounts due to a related party as of December 31, 2025 and December 31, 2024.

	December 31, 2025		December 31, 2024
Zhongchai(1)	$	889,675	$	-
Billy Rafael Romero Del Rosario		-		26,226
Total amounts due to a related party		889,675		26,226
Less: amounts due to a related party, held for discontinued operations		-		-
Amounts due to a related party, held for continuing operations	$	889,675	$	26,226

(1) On April 15, 2025, Zhongchai entered into a loan agreement (the “Loan Agreement”) with the Company, which provides for the Company’s capacity to borrow up to $1.0 million as evidenced by a promissory note issued by the Company to the Lender dated as of April 15, 2025 (the “Promissory Note”). The Company intends to use the proceeds received from the Promissory Note for working capital purposes. The Promissory Note has a maturity date of April 14, 2026, and accrues interest at a rate of 7.50% per annum. Both parties also made supplementary agreement that the period before April 15, 2025 shall be an interest-free period for the Advanced Funds. As of December 31, 2025, loan principal of $160,000 was repaid.