RELATED PARTY TRANSACTIONS AND BALANCES

6 Months Ended

Jun. 30, 2026

RELATED PARTY TRANSACTIONS AND BALANCES [Abstract]

RELATED PARTY TRANSACTIONS AND BALANCES

NOTE 18 - 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. before April 1, 2025. 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

Related party transactions

During the six months ended June 30, 2026 and 2025, the Company had the following material related party transactions for the continuing operation.

	For the Six Months Ended June 30,
	2026		2025
	(Unaudited)		(Unaudited)
Accrual of interest expense of loan
Zhongchai	$	29,387	$	-
Interest expense to a related party
Zhongchai		-		16,042
Repayment of loans to a related party
Zhongchai		350,000		-
Interests-bearing loan from a related party
Zhongchai		-		1,000,000
Interests-bearing loan to a related party
Greenland		-		27,760
Prepayment of operating fund to a related party
Billy Rafael Romero Del Rosario (1)		-		25,378
Reimbursement from a related party
Billy Rafael Romero Del Rosario		-		88,646

Amounts due from Related Parties

The following table presents amounts due from related parties as of June 30, 2026 and December 31, 2025.

	June 30, 2026 (Unaudited)		December 31, 2025
Zhejiang RAP (1)	$	12,618	$	12,243
HEVI CORP. (2)		-		25,462
Total amounts due from a related party		12,618		37,705
Less: amounts due from a related party, held for discontinued operations		-		-
Amounts due from a related party, held for continuing operations	$	12,618	$	37,705

(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, which was collected as of June 30, 2026.

Amounts due to a Related Party

The following table presents amounts due to a related party as of June 30, 2026 and December 31, 2025.

	June 30, 2026(Unaudited)		December 31, 2025
Zhongchai (1)	$	569,062	$	889,675
Total amounts due to a related party		569,062		889,675
Less: amounts due to a related party, held for discontinued operations		-		-
Amounts due to a related party, held for continuing operations	$	569,062	$	889,675

(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 further extend to October 14, 2026, and accrues interest at a rate of 7.50% per annum. Both parties also made supplementary agreement that all advances provided prior to April 15, 2025 shall bear no interest.