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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Net revenues $ 6,221,822 $ 6,406,918 $ 7,433,982 $ 8,549,976
Cost of goods sold (5,809,002) (6,425,822) (6,784,034) (8,247,353)
Gross profit (loss) 412,820 (18,904) 649,948 302,623
OPERATING EXPENSES:        
Selling and marketing expenses (670,974) (227,580) (965,241) (1,004,297)
General and administrative expenses (3,831,516) (5,167,754) (7,240,475) (10,101,922)
Research and development expenses (465,267) (648,861) (943,400) (1,433,039)
Impairment loss (2,917,428) 0 (2,917,428) 0
Provision for credit losses (26,513) (2,035,343) (62,831) (2,035,343)
Total operating expenses (7,911,698) (8,079,538) (12,129,375) (14,574,601)
Loss from operations (7,498,878) (8,098,442) (11,479,427) (14,271,978)
OTHER INCOME (EXPENSE):        
Interest expense, net (153,186) (156,396) (241,256) (275,084)
Gain (loss) from long-term investments 4,263 3 (41) (36)
Change in fair value of convertible promissory notes and derivative liability 1,098,426 (134,161) 1,333,290 (137,290)
Loss from Note Amendment 0 (1,756,137) 0 (1,756,137)
Gain from early termination of lease contract 0 0 0 1,138
Change in fair value of equity securities 0 259,565 0 516,277
Foreign currency exchange (loss) gain, net (82,854) 567,141 (189,848) 971,332
Gain from disposal of Cenntro Electric CICS, SRL’s equity 0 1,157,556 0 1,157,556
Loss on deconsolidation of a subsidiary due to insolvency (1,902,577) 0 (1,902,577) 0
Gain (loss) from cross-currency swaps 167 26,445 19,517 (9,695)
Other income (expense), net 733,427 (70,378) 583,588 225,214
Net loss from continuing operations before taxes (7,801,212) (8,204,804) (11,876,754) (13,578,703)
Income tax benefit 122,143 15,408 135,068 27,040
Net loss from continuing operations (7,679,069) (8,189,396) (11,741,686) (13,551,663)
Discontinued operations:        
Loss from discontinued operations, net of tax (2,935,552) (1,705,812) (2,795,767) (2,009,202)
Net loss (10,614,621) (9,895,208) (14,537,453) (15,560,865)
Less: net loss attributable to non-controlling interests (45,829) (5,871) (60,562) (17,192)
Net loss attributable to the Company’s shareholders (10,568,792) (9,889,337) (14,476,891) (15,543,673)
OTHER COMPREHENSIVE INCOME        
Foreign currency translation adjustment 3,029,611 1,097,728 3,530,077 1,488,890
Unrealized holding gains for available-for-sale securities 3,430 7,500 10,930 15,000
Total comprehensive loss (7,581,580) (8,789,980) (10,996,446) (14,056,975)
Less: total comprehensive loss attributable to non-controlling interests (45,079) (4,547) (58,725) (15,524)
Total comprehensive loss attributable to the Company’s shareholders $ (7,536,501) $ (8,785,433) $ (10,937,721) $ (14,041,451)
Weighted average number of shares outstanding, basic (in Shares) [1] 1,773,110 606,643 1,620,013 560,798
Weighted average number of shares outstanding, diluted (in Shares) [1] 1,773,110 606,643 1,620,013 560,798
Loss per common share        
Continuing operations - Basic (in Dollars per share) $ (4.31) $ (13.49) $ (7.21) $ (24.13)
Continuing operations - Diluted (in Dollars per share) (4.31) (13.49) (7.21) (24.13)
Discontinued operations - Basic (in Dollars per share) (1.66) (2.81) (1.73) (3.58)
Discontinued operations - Diluted (in Dollars per share) (1.66) (2.81) (1.73) (3.58)
Net loss per common share, basic (in Dollars per share) (5.97) (16.3) (8.94) (27.71)
Net loss per common share, diluted (in Dollars per share) $ (5.97) $ (16.3) $ (8.94) $ (27.71)
[1] On April 13, 2026, the Company effected a 1-for-60 reverse stock split of its issued and outstanding common stock (the “Reverse Stock Split”). As a result of the Reverse Stock Split, every sixty (60) shares of the Company’s common stock were automatically combined into one (1) share of common stock, with any fractional shares rounded up to the nearest whole share.