Cenntro Announces First Quarter 2025 Financial Results
Financial Performance: Cenntro Inc. reported a net revenue of $2.1 million for Q1 2025, an 8.5% decrease from the previous year, but showed improvement in adjusted EBITDA loss, reducing it to ($4.0) million from ($6.4) million in Q1 2024. The company sold 129 electric commercial vehicles, marking a 34% increase compared to the same period last year.
Market Expansion and Future Outlook: The CEO highlighted strong international sales momentum and significant orders, including 200 electric passenger vans for Spain and 500 customized vehicles for Japan. Cenntro aims to enhance its production capabilities and geographic footprint, particularly in the US market, to drive long-term shareholder value through new vehicle models and increased efficiency.
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Cenntro Receives 180-Day Extension to Comply with Nasdaq Minimum Bid Price Rule
Extension Granted: Cenntro Inc. has received a 180-day extension from Nasdaq to comply with the minimum $1.00 closing bid price requirement, now having until April 20, 2026, to meet this standard.
Compliance Requirements: To regain compliance, Cenntro must maintain a closing bid price of at least $1.00 per share for ten consecutive business days before the end of the extension period.
Previous Non-Compliance: The company was previously notified on April 25, 2025, that it was not in compliance due to its stock price being below $1.00 for thirty consecutive business days.
Company Overview: Cenntro is an electric commercial vehicle manufacturer focused on building a global supply chain and enhancing its product capabilities through advanced technologies.
Cenntro Signs Strategic Partnership Agreement with Electricove Maroc for EV Assembly in Morocco
Partnership Announcement: Cenntro Inc. has signed a strategic partnership with Electricove Maroc to assemble electric vehicles in Morocco for local and Northern African distribution, enhancing their longstanding relationship.
Support and Development: Cenntro will supply assembly kits and provide technical support to Electricove, which will establish a local assembly plant, receiving strong backing from Moroccan authorities and business organizations.