Cenntro Added to Russell Microcap® Index

Rhea-AI Summary

Cenntro, a prominent electric commercial vehicle manufacturer, has been added to the Russell Microcap Index effective June 28, 2024, following FTSE Russell's annual reconstitution.

This inclusion is part of the wider Russell US Indexes reconstitution that captures the 4,000 largest US stocks based on market capitalization as of April 30, 2024. Cenntro's membership in the Russell Microcap Index, which includes the smallest 1,000 securities in the Russell 2000 plus the next 1,000 smallest eligible securities by market cap, reflects its market position and growth potential.

FTSE Russell's indexes are important benchmarks for investment managers and institutional investors, representing approximately $10.5 trillion in assets as of December 2023.

Positive

• Cenntro added to the Russell Microcap Index, enhancing visibility and credibility.
• Inclusion effective after market close on June 28, 2024, aligning with FTSE Russell's reconstitution.
• Part of Russell US Indexes capturing 4,000 largest US stocks as of April 30, 2024.
• Membership in a widely recognized benchmark used by investment managers and institutional investors.

Negative

• None.

FREEHOLD, N.J.--(BUSINESS WIRE)-- Cenntro Inc. (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric commercial vehicle company with advanced, market-validated, and purpose-built vehicles, today announced that it has been added to the Russell Microcap® Index effective after the market close on June 28, 2024 as part of FTSE Russell’s annual reconstitution.

The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30th, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as the appropriate growth and value style indexes. The Russell Microcap® Index consists of the smallest 1,000 securities in the Russell 2000® Index, plus the next 1,000 smallest eligible securities by market cap. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell US indexes, which belong to FTSE Russell, a prominent global index provider.

About Cenntro

Cenntro (NASDAQ: CENN) is a leading maker and provider of electric commercial vehicles (“ECVs”). Cenntro's purpose-built ECVs are designed to serve a variety of commercial applications inclusive of its line of class 1 to class 4 trucks. Cenntro is building a globalized supply-chain, as well as the manufacturing, distribution, and service capabilities for its innovative and reliable products. Cenntro continues to evolve its products capabilities through advanced battery, powertrain, and smart driving technologies. For more information, please visit Cenntro's website at: www.cenntroauto.com.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts. Such statements may be, but need not be, identified by words such as "may," "believe," "anticipate," "could," "should," "intend," "plan," "will," "aim(s)," "can," "would," "expect(s)," "estimate(s)," "project(s)," "forecast(s)," "positioned," "approximately," "potential," "goal," "strategy," "outlook" and similar expressions. Examples of forward-looking statements include, among other things, statements regarding assembly and distribution capabilities, decentralized production, and fully digitalized autonomous driving solutions. All such forward-looking statements are based on management's current beliefs, expectations and assumptions, and are subject to risks, uncertainties and other factors that could cause actual results to differ materially from the results expressed or implied in this communication. For additional risks and uncertainties that could impact Cenntro’s forward-looking statements, please see disclosures contained in Cenntro's public filings with the SEC, including the "Risk Factors" in Cenntro's Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 1, 2024 and which may be viewed at www.sec.gov.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240701013644/en/

Investor Relations Contact:

Chris Tyson

MZ North America

CENN@mzgroup.us

949-491-8235



Company Contact:

PR@cenntroauto.com

IR@cenntroauto.com

Source: Cenntro Inc.

FAQ

When was Cenntro added to the Russell Microcap Index?

Cenntro was added to the Russell Microcap Index effective after the market close on June 28, 2024.

What is the Russell Microcap Index?

The Russell Microcap Index consists of the smallest 1,000 securities in the Russell 2000 Index, plus the next 1,000 smallest eligible securities by market cap.

How does the Russell US Indexes reconstitution affect Cenntro?

The reconstitution includes Cenntro in the Russell Microcap Index, enhancing its market visibility and credibility among investors.

What is the significance of being included in the Russell Microcap Index for Cenntro?

Inclusion signals Cenntro's market position and growth potential, attracting investment managers and institutional investors.

What is the total market capitalization benchmark date for the Russell US Indexes?

The total market capitalization benchmark date for the Russell US Indexes is April 30, 2024.