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Cenntro - CENN STOCK NEWS

Welcome to our dedicated page for Cenntro news (Ticker: CENN), a resource for investors and traders seeking the latest updates and insights on Cenntro stock.

Cenntro Inc (CENN) news hub provides investors and industry professionals with centralized access to official announcements and strategic developments from this innovative electric commercial vehicle manufacturer. Track all corporate updates through verified press releases and market-moving news related to Cenntro's emission-free transportation solutions.

This resource aggregates essential information including product launch announcements, strategic partnerships, and operational expansions across Cenntro's global markets. Users gain timely insights into the company's Metro, Logistar, and Neibor vehicle lines while monitoring progress in sustainable automotive technology.

Discover updates on Cenntro's engineering advancements, manufacturing capabilities, and distribution network growth. The curated news selection enables efficient tracking of the company's position within the competitive electric commercial vehicle sector without speculative commentary.

Bookmark this page for streamlined access to Cenntro's latest developments in clean transportation technology and corporate milestones. Regularly updated content supports informed analysis of the company's progress in America, Europe, and Asian markets.

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Cenntro Electric Group Limited has appointed Stephen Markscheid as a new Independent Director and Benjamin Ge as Chairman of the Audit Committee. Markscheid is a corporate finance professional with 30+ years of experience and serves as an independent non-executive director of six publicly listed companies. Ge is an accomplished expert with extensive corporate finance and private equity experience.
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Cenntro Electric Group intends to re-domicile from Australia to the U.S. through a scheme of arrangement. Cenntro will become a wholly owned subsidiary of HoldCo, and will be de-listed from Nasdaq while HoldCo applies for listing. The re-domiciliation aims to provide potential benefits such as pursuing corporate development, reducing risk, and aligning corporate structure with U.S. operations. The directors unanimously recommend Cenntro Shareholders to vote in favor of the Scheme. Implementation is subject to various conditions precedent.
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Cenntro Electric Group has delivered 31 All-Electric Logistar 200 vans to the Post of Serbia. The vans will be used for deliveries in the city center of Novi Sad. The LS200 offers a payload of 2304 lbs and a range of 164 miles. The LS200 is part of Cenntro's expanded Logistar line.
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Cenntro Electric Group Q2 2023 net revenue increased 32% to $4.2 million. Number of vehicles sold increased by 82% to 235 vehicles. Gross profit margin increased to 27.1%. Average selling price increased 11% to approximately $18.6 thousand.
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Cenntro Electric Group Limited (NASDAQ: CENN) has regained compliance with Nasdaq Listing Rule 5250(c)(1) by filing its 2022 Form 10-K and Q1 Form 10-Q with the SEC. The company received a written notice from Nasdaq confirming its compliance.
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Cenntro Electric Group Limited (NASDAQ: CENN) announced its Q1 2023 financial results, reporting a 90% increase in net revenue to $3.5 million. The increase was driven by higher average selling prices and an expanded go-to-market strategy. The company also highlighted the commencement of production at its assembly facilities in Florida and New Jersey, as well as the assembly and production of battery packs using lithium iron phosphate cells in the US and Germany. Cenntro premiered five new vehicles at the 2023 Consumer Electronics Show and entered Central and Latin American markets. Despite a decrease in sales volume, the company achieved an increase in net revenue and had $91.8 million in cash and cash equivalents as of March 31, 2023.
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Cenntro Electric Group Limited will hold its annual general meeting on September 1, 2023, at 8:30 a.m. Eastern Time. Shareholders can attend in person or vote online through ProxyVote.com.
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Cenntro Electric Group Limited (NASDAQ: CENN) has received written notices from Nasdaq stating that it complies with the listing rule and has been granted an exception to regain compliance. The company has until August 15, 2023, to submit its quarterly financial results. Failure to do so may result in delisting.
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Cenntro Electric Group Limited is expanding its sales and large-scale deployment of electric commercial vehicles on the West Coast with the addition of an assembly plant in Ontario, California. This is Cenntro's third assembly facility in the U.S. and will allow the company to scale sales in one of the largest EV markets in the country. The facility is scheduled to be operational this quarter.
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Nasdaq:CENN

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22.65M
22.14M
28.28%
2.43%
1.83%
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