CENN Overview

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.

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.

New Model Launch: Cenntro Inc. has introduced the Logistar® 210 (LS210) model, receiving 260 orders in the first half of 2025, with significant upgrades over its predecessor, the LS200, and fulfilling 12 deliveries in Europe.

Market Adaptability: The LS210 is designed for various commercial applications, available in multiple configurations, and reflects Cenntro's commitment to advancing electric vehicle technology for global transportation needs.

New Hydrogen Fuel Cell Vehicle: Cenntro Inc. has announced the development of its second-generation hydrogen fuel cell Class 8 semi-tractor, the "BM860H", which offers rapid refueling and a driving range of up to 528 miles while producing zero emissions. The vehicle has received EPA certification and is currently undergoing CARB certification.

Manufacturing and Supply Chain Plans: Cenntro plans to source key components for the BM860H primarily from U.S.-based manufacturers, with final assembly occurring in Southern California, as part of their strategy to build a globalized supply chain for electric commercial vehicles.

EU Type Approval for Avantier Commuter: Cenntro Inc. has launched the Avantier Commuter, an all-electric vehicle that has received EU M1 type approval, allowing it to be marketed and sold across all EU countries and other nations adopting EU vehicle standards.

Market Reception and Vehicle Features: The Avantier Commuter is designed for urban mobility with a compact design, seating for four, a power output of 50kw, and a range of up to 320 kilometers on a single charge; it has already seen positive market reception with 66 units sold since its introduction.

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.