CENN Overview

Stock Split Announcement: CENNTRO has announced a 1-for-60 reverse stock split to enhance its stock price and attract institutional investors.

Rationale for the Split: The reverse split is intended to improve the company's market perception and increase liquidity for shareholders.

Impact on Shareholders: Existing shareholders will see their shares consolidated, but the overall value of their investment will remain unchanged immediately after the split.

Future Outlook: CENNTRO aims to use this strategic move to position itself better in the market and potentially facilitate future financing opportunities.

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.