We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Cenntro Inc | NASDAQ:CENN | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.0199 | -1.79% | 1.0901 | 1.09 | 1.10 | 1.0994 | 1.09 | 1.09 | 4,912 | 14:35:07 |
From Dec 2023 to Dec 2024
Q4 2023 Net Revenue Increased 376% to $8.6 million
Q4 Number of Vehicles Sold Increased by 148% to 1,135 Vehicles
Q4 Gross Profit Margin Increased 2,500 bps to 2.3% from a loss of -22.7%
Cenntro Inc. (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, has reported its financial and operational results for the fourth quarter and full year ended December 31, 2023.
Fourth Quarter 2023 Financial and Operating Highlights
Peter Z. Wang, Chief Executive Officer explained, “The fourth quarter of 2023 was highlighted by a continuation of the year’s sales momentum and distribution expansion. In the fourth quarter we sold 473 vehicles compared to 298 vehicles in Q3 2023 and 51 in Q4 2022. We experienced positive sales momentum for our iChassis, having sold 199 units in Q4, though these 199 units are not inclusive of the number of vehicles sold because iChassis is not considered a complete vehicle. During the quarter we delivered more than 250 autonomous delivery vehicles in China to Zelos (Suzhou) Technology Co. powered by iChassis and utilizing autonomous driving software developed by Zelos. More importantly, to date the demand for some of our newly launched vehicle models in Europe such as the LS260® continued to outpace our estimates. Sales momentum in 2023 continued to build quarter to quarter with the effectiveness of our sales process.”
“Throughout the quarter we continued to benefit from government incentives in both the United States and the European Union for our vehicles. In California, we received approval to participate in the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project (“HVIP”), providing a $60,000 point-of-sale voucher for our LS400 customers. HVIP approval not only accelerates our commercialization of the LS400, but makes the model more affordable and attractive to our customers by offering point-of-sale vouchers. In the EU, we received a Certificate of Compliance for Cybersecurity Management and a Certificate of Compliance for Software Update Management System. Both certifications are required for vehicle sales in the European Union beginning in the second quarter of 2024, stemming from the growing technological complexity and interconnectedness of today’s vehicles.”
“In California, with the LS400’s approval now for the HVIP, Commercial Clean Vehicle Credit, California Air Resources Board (“CARB”) certification, and Zero-Emission Powertrain Certification (“ZEP”), we remain highly focused on scaling production at our U.S. assembly and manufacturing facility in Ontario, California. The facility has the capability to assemble and distribute the TeeMak, Metro and Logistar series models with a focus on the Logistar 400® and future models. We believe Ontario will also support strategic growth and sales on the west coast and the entire western region of the United States. California remains a strong market for EV sales and infrastructure development, as such we believe Cenntro’s dealer and distributor partnerships will strengthen sales and aftermarket support. In addition, from a supply chain standpoint, we believe California will serve as a very cost-effective point of entry for our products from China to serve our customers on the West Coast.”
“Our footprint in the European market continues to build in scale with our EVC customer base looking for competitive products to complete their local commerce needs and allowing them to participate in Zero Emission initiatives. We have also determined that providing a compatible charging solution to our customers that is available for sale along with our product line is vital. We have begun to develop relationships that will allow us to provide a charging solution as part of the sales transaction.”
“Based on these developments, we are optimistic that our sales momentum will continue to build in 2024 and beyond. With our recent re-domicile to the U.S., we are now well positioned to capture market share with our diverse and innovative lineup of all-electric vehicles that are benefiting from a variety of government incentives in the U.S. and Europe. Our focus in 2024 will be on expanding our geographic footprint for production, distribution, and service infrastructure, we believe this will position us to efficiently scale as we enter the next phase of growth and create additional value for our shareholders,” concluded Mr. Wang.
Edward Ye, Acting Chief Financial Officer, added, “Sales volume in the fourth quarter of 2023 for our electric commercial vehicles increased 827% year-over-year to 473 from 51 in the same period of 2022. At the same time, we achieved an increase of net revenue of 376% to approximately $8.6 million for the fourth quarter of 2023 compared to $1.8 million in the same period of 2022. For the full year 2023, sales volume of commercial vehicles increased 148% year-over-year to 1,135 from 458 in 2022. 2023 revenue increased 147% to $22.1 million from $8.9 million in the prior year. The increase in net revenue is mainly attributable to an approximate $12.1 million increase in vehicle revenue in 2023. More importantly, we continue to experience quarter-to-quarter revenue growth in 2023 as fourth quarter revenue grew 49% from the third quarter of 2023 to $8.6 million and grew 376% from the prior year’s quarter. We are cautiously optimistic that the growth momentum will continue in the first quarter of 2024, reflecting our investment in expanding our product offerings and strengthening our global distribution capabilities.”
“We continue to benefit from the transition to an in-country direct sales model and our launch of new models, particularly the LS260 as mentioned by Peter. Also, our overall vehicles gross margin for the year ended December 31, 2023 and 2022 was approximately 11.7% and -0.27%, respectively. The increase in our overall gross profit was the result of (i) the decrease in inventory write-down of approximately $1.5 million; and (ii) the realized gross margin of Logsitar®100 and our newly introduced Logsitar®260 was approximately 25.4% and 18.8%, respectively, in 2023 compared with 2022.”
“As of December 31, 2023, we had approximately $29.4 million in cash and cash equivalents on our balance sheet. We also had $6.5 million in accounts receivable, $43.9 million in inventory which consisted of approximately $28.4 million in finished goods inventory, and approximately $26.2 million in investments in equity securities as of December 31, 2023,” concluded Mr. Ye.
Fourth Quarter 2023 Financial Results
Net Revenue
Net revenue was $8.6 million for the three months ended December 31, 2023, an increase of 376% from $1.8 million in the same period of 2022. The increase was primarily due to an increase in vehicle sales, spare parts sales, including 199 units of the iChassis.
Gross Profit
Gross Profit for the three months ended December 31, 2023 was approximately $0.2 million, an increase of approximately $0.6 million from approximately $0.4 million of gross loss for the three months ended December 31, 2022. For the three months ended December 31, 2023 and 2022, overall gross margin was approximately 2.3% and -22.7%, respectively. Gross margin of vehicle sales for the three months ended December 31, 2023 and 2022 was 4.2% and 15.1%, respectively. The increase in our overall gross profit was caused by the decrease in inventory write-down of approximately $0.9 million, offset by the decrease in vehicle revenue and other sales of approximately $0.1 million and $0.1 million.
Operating Expenses
Total operating expenses were approximately $14.2 million in the fourth quarter of 2023, compared with $20.4 million in the fourth quarter of 2022.
Selling and marketing expenses for the three months ended December 31, 2023 were approximately $0.6 million, a decrease of approximately $1.6 million or approximately 72% from approximately $2.3 million for the three months ended December 31, 2022. The decrease in selling and marketing expenses in the fourth quarter of 2023 was primarily attributed to (i) the decrease in salary and social insurance of approximately $0.9 million, and (ii) the decrease in marketing expense of approximately $0.6 million.
General and administrative expenses for the three months ended December 31, 2023 were approximately $10.4 million, an increase of approximately $4.0 million or approximately 63% from approximately $6.4 million for the three months ended December 31, 2022. The increase in general and administrative expenses in the fourth quarter 2023 was primarily attributed to the increase in legal and professional fee, salary and social insurance and ROU amortization of approximately $2.2 million, $1.3 million, and $0.7 million, respectively, offset by the decrease in office expenses of approximately $1.0 million.
Research and development expenses for the three months ended December 31, 2023 were approximately $3.1 million, an increase of approximately $0.4 million or approximately 13% from approximately $2.8 million for the three months ended December 31, 2022. The increase in research and development expenses in the fourth quarter of 2023 was primarily attributed to the increase in design and development expenses and salary and social expensed of approximately $0.6 million and $0.4 million, respectively, offset by the decrease in quality improvement measurement of approximately $0.5 million.
Net Loss
Net loss was approximately $13.0 million in the fourth quarter of 2023, compared with net loss of $73.3 million in the fourth quarter of 2022.
Adjusted EBITDA
Adjusted EBITDA was approximately $(13.7) million in the fourth quarter of 2023, compared with Adjusted EBITDA of $(18.3) million in the fourth quarter of 2022.
Full Year 2023 Financial Results
Net Revenue
Net revenue was $22.1 million for the year ended December 31, 2023, an increase of 147% from $8.9 million in 2022. The increase was primarily due to an increase in vehicle sales and spare parts sales.
Gross Profit
Gross profit for the year ended December 31, 2023 was approximately $2.3 million, an increase of approximately $2.8 million from approximately $0.5 million of gross loss for the year ended December 31, 2022. For the years ended December 31, 2023 and 2022, overall gross margin was approximately 10.2% and -5.7%, respectively. Gross margin of vehicle sales for years ended December 31, 2023 and 2022 was 11.7% and -0.27%, respectively. The increase in overall gross profit was caused by the decrease in inventory write-down of approximately $1.5 million and realized gross margin of Logsitar®100 and newly introduced Logsitar®260 of approximately 25.4% and 18.8%, respectively. Both models began sales in 2023.
Operating Expenses
Total operating expenses were approximately $52.5 million in full year 2023, compared with $54.7 million in 2022.
Selling and marketing expenses for the year ended December 31, 2023, were approximately $7.9 million, an increase of approximately $1.3 million or approximately 20.6% from approximately $6.5 million for the year ended December 31, 2022. The increase in selling and marketing expenses in 2023 was primarily attributed to the increase in service fees related to European market and distribution channel research and salary and social insurance of approximately $1.6 million and $0.7 million, respectively, offset by a decrease in marketing expense of approximately $1.1 million.
General and administrative expenses for the year ended December 31, 2023 were approximately $35.7 million, an increase of approximately $2.8 million or approximately 8.7% from approximately $32.8 million for the year ended December 31, 2022. The increase in general and administrative expenses in 2023 was primarily attributed to an increase in share-based compensation, of approximately $1.4 million, (ii) an increase in ROU amortization of approximately $2.1 million, (iii) an increase in ROU interest expense of approximately $1.0 million, offset by the decrease in salary and social care expense and FOH stripping fee of approximately $2.8 million and $1.8 million, respectively.
Research and development expenses for the year ended December 31, 2023 were approximately $8.5 million, an increase of approximately $2.1 million or approximately 33.1% from approximately $6.4 million for the year ended December 31, 2022. The increase in research and development expenses in 2023 was primarily attributed to the increase in design and development expenditures and salary expense of approximately $1.0 million and $1.4 million, respectively, offset by a decrease in development fee related to enhancing quality of approximately $0.5 million.
Net Loss
Net loss was approximately $54.2 million in the year ended December 31, 2023, compared with net loss of $110.1 million in 2022.
Balance Sheet
Cash and cash equivalents were approximately $29.4 million as of December 31, 2023, compared with $154.0 million as of December 31, 2022.
Adjusted EBITDA
Adjusted EBITDA was approximately $(47.6) million in the year ended December 31, 2023, compared with Adjusted EBITDA of $(43.2) million in the year ended December 31, 2022.
We define Adjusted EBITDA as net income (or net loss) before net interest expense, income tax expense, depreciation and amortization as further adjusted to exclude the impact of stock-based compensation expense and other non-recurring expenses including expenses related to TME Acquisition, expenses related to one-off payment inherited from the original Naked Brand Group, impairment of goodwill, convertible bond issuance fee, loss on redemption of convertible promissory notes, loss on exercise of warrants, and change in fair value of convertible promissory notes and derivative liability. We present Adjusted EBITDA because we consider it to be an important supplemental measure of our performance and believe it is frequently used by securities analysts, investors, and other interested parties in the evaluation of companies in our industry. Management believes that investors’ understanding of our performance is enhanced by including this non-GAAP financial measure as a reasonable basis for comparing our ongoing results of operations.
US-GAAP NET INCOME (LOSS) TO ADJUSTED EBITDA RECONCILIATION
Year Ended December 31,
2023
2022
(Unaudited)
Net loss
$
(54,360,755
)
$
(112,145,263
)
Interest expense, net
(402,414
)
844,231
Income tax expense
24,919
—
Depreciation and amortization
1,570,313
953,872
Share-based compensation expense
5,230,273
4,031,629
Expenses related to TME Acquisition
—
348,987
Expenses related to one-off payment inherited from the original Naked Brand Group
—
8,299,178
Impairment of goodwill
—
11,111,886
Convertible bond issuance cost
—
5,589,336
Loss on redemption of convertible promissory notes
(12,507
)
7,435
Loss on exercise of warrants
228,903
—
Change in fair value of convertible promissory notes and derivative liability
(75,341
)
37,774,928
Loss from acquisition of Antric
136,302
—
Adjusted EBITDA
$
(47,575,571
)
$
(43,183,781
)
Represents a non-GAAP financial measure.
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.
CENNTRO INC. CONSOLIDATED BALANCE SHEETS (Expressed in U.S. dollars, except for the number of shares)
December 31,
2023
December 31,
2022
ASSETS
Current assets:
Cash and cash equivalents
$
29,375,727
$
153,966,777
Restricted cash
196,170
130,024
Short-term investment
4,236,588
-
Accounts receivable, net
6,530,801
565,398
Inventories
43,909,564
31,843,371
Prepayment and other current assets
20,391,150
16,138,330
Amounts due from related parties - current
287,439
366,936
Total current assets
104,927,439
203,010,836
Non-current assets:
Long-term investments
4,685,984
5,325,741
Investment in equity securities
26,158,474
29,759,195
Property, plant and equipment, net
20,401,521
14,962,591
Goodwill
223,494
-
Intangible assets, net
6,873,781
4,563,792
Right-of-use assets
20,039,625
8,187,149
Other non-current assets, net
2,227,672
2,039,012
Total non-current assets
80,610,551
64,837,480
Total Assets
$
185,537,990
$
267,848,316
LIABILITIES AND EQUITY
LIABILITIES
Current liabilities:
Accounts payable
$
6,797,852
$
3,383,021
Accrued expenses and other current liabilities
4,263,887
5,048,641
Contractual liabilities
3,394,044
2,388,480
Operating lease liabilities, current
4,741,599
1,313,334
Convertible promissory notes
9,956,000
57,372,827
Contingent liabilities
26,669
-
Deferred government grant, current
108,717
26,533
Amounts due to related parties
10,468
716,372
Total current liabilities
29,299,236
70,249,208
Non-current liabilities:
Contingent liabilities non-current
230,063
-
Deferred tax liabilities
228,086
-
Deferred government grant, non-current
1,929,733
497,484
Derivative liability - investor warrant
12,189,508
14,334,104
Derivative liability - placement agent warrant
3,456,578
3,456,404
Operating lease liabilities, non-current
16,339,619
7,421,582
Total non-current liabilities
34,373,587
25,709,574
Total Liabilities
$
63,672,823
$
95,958,782
Commitments and contingencies
EQUITY
Ordinary shares (No par value; 30,828,778 and 30,084,200 shares issued and outstanding as of December 31, 2023 and 2022, respectively)
-
-
Additional paid in capital
402,337,393
397,497,817
Accumulated deficit
(274,023,501
)
(219,824,176
)
Accumulated other comprehensive loss
(6,444,485
)
(5,306,972
)
Total equity attributable to shareholders
121,869,407
172,366,669
Non-controlling interests
(4,240
)
(477,135
)
Total Equity
$
121,865,167
$
171,889,534
Total Liabilities and Equity
$
185,537,990
$
267,848,316
CENNTRO INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Expressed in U.S. dollars, except for number of shares)
For the Years Ended December 31,
2023
2022
Net revenues
$
22,079,905
$
8,941,835
Cost of goods sold
(19,821,645
)
(9,455,805
)
Gross profit (loss)
2,258,260
(513,970
)
OPERATING EXPENSES:
Selling and marketing expenses
(7,868,773
)
(6,525,255
)
General and administrative expenses
(35,768,786
)
(32,822,709
)
Research and development expenses
(8,469,241
)
(6,362,770
)
Provision for doubtful accounts
-
(5,986,308
)
Impairment loss of right-of-use assets
-
(371,695
)
Impairment loss of intangible assets
-
(2,995,440
)
Reverse of deferred tax liabilities
-
898,632
Impairment loss of property, plant and equipment
(431,319
)
(550,402
)
Total operating expenses
(52,538,119
)
(54,715,947
)
Loss from operations
(50,279,859
)
(55,229,917
)
OTHER EXPENSE:
Interest (income)/expense, net
402,414
(844,231
)
Gain (loss) on redemption of convertible promissory notes
12,507
(7,435
)
(Loss) income from long-term investments
(1,377,760
)
(12,651
)
Change in fair value of convertible promissory notes and derivative liability
75,341
(37,774,928
)
Change in fair value of equity securities
(2,600,721
)
(240,805
)
Convertible bond issuance cost
-
(5,589,336
)
Foreign currency exchange loss, net
(848,781
)
(409,207
)
Impairment loss of goodwill
-
(11,111,886
)
Loss from acquisition of Antric
(136,302
)
-
Loss on exercise of warrants
(228,903
)
-
Gain from cross-currency swaps
8,664
-
Other income/ (expense), net
621,633
(924,867
)
Loss before income taxes
(54,351,767
)
(112,145,263
)
Income tax expense
(8,988
)
-
Net loss
(54,360,755
)
(112,145,263
)
Less: net loss attributable to non-controlling interests
(161,430
)
(2,057,022
)
Net loss attributable to the Company’s shareholders
$
(54,199,325
)
$
(110,088,241
)
OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustment
(1,162,080
)
(3,889,706
)
Total comprehensive loss
(55,522,835
)
(116,034,969
)
Less: total comprehensive loss attributable to non-controlling interests
(185,997
)
(2,032,455
)
Total comprehensive loss to the Company’s shareholders
$
(55,336,838
)
$
(114,002,514
)
Weighted average number of shares outstanding, basic and diluted *
30,424,686
26,332,324
Loss per share, basic and diluted
(1.78
)
(4.18
)
CENNTRO INC. CONSOLIDATED STATEMENTS OF CASH FLOW (Expressed in U.S. dollars, except for number of shares)
For the Year Ended December 31,
2023
2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss
$
(54,360,755
)
$
(112,145,263
)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization
1,670,980
953,872
Amortization and interest of operating lease right-of-use asset
4,495,244
1,616,853
Impairment of property, plant and equipment
431,319
550,402
Impairment of intangible assets
-
2,995,440
Reversal of deferred tax liabilities
-
(898,632
)
Impairment of right-of-use assets
-
371,695
Impairment of goodwill
-
11,111,886
Written-down of inventories
658,622
2,155,400
Provision for doubtful accounts
-
5,986,308
Convertible promissory notes issuance costs
-
5,589,336
(Gain) Loss on redemption of convertible promissory notes
(12,507
)
7,435
Loss on exercise of warrants
228,903
-
Changes in fair value of convertible promissory notes and derivative liabilities
(75,341
)
37,774,928
Changes in fair value of equity securities
2,600,721
240,805
Foreign currency exchange loss, net
1,527,077
409,207
Share-based compensation expense
5,230,273
4,031,629
Loss (Gain) from disposal of plant and equipment
55,391
(10,334
)
Loss from long-term investments
1,377,760
12,651
Income from short-term investment
(22,918
)
-
Loss from acquisition of Antric Gmbh
136,302
-
Deferred income taxes
(15,930
)
-
Changes in operating assets and liabilities:
Accounts receivable
(5,871,181
)
233,570
Inventories
(12,178,463
)
(20,483,127
)
Prepayment and other assets
(4,624,170
)
(6,753,851
)
Amounts due from/to related parties
11,799
(1,190,573
)
Accounts payable
3,100,835
(2,144,725
)
Accrued expense and other current liabilities
(1,325,504
)
1,358,858
Contractual liabilities
2,516,789
633,825
Long-term payable
-
(700,000
)
Operating lease assets and liabilities
(4,012,410
)
(1,108,721
)
Net cash used in operating activities
(58,457,164
)
(69,401,126
)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equity investment
(880,932
)
(4,256,276
)
Purchase of convertible note from Acton
(600,000
)
-
Purchase of wealth management products purchased from banks
(4,236,740
)
-
Purchase of land, plant and equipment
(7,636,020
)
(3,285,072
)
Purchase of land use rights and property
(1,114,943
)
(16,456,355
)
Acquisition of CAE’s equity interests
(1,924,557
)
(3,612,717
)
Payment of expense for acquisition of CAE’s equity interests
-
(348,987
)
Cash acquired from acquisition of CAE
-
1,118,700
Acquisition of Antric Gmbh’s equity interests
(1
)
-
Cash acquired from acquisition of Antric Gmbh
1,376
-
Purchase of equity securities
-
(30,000,000
)
Proceeds from disposal of property, plant and equipment
3,661
309
Loans provided to third parties
-
(1,323,671
)
Repayment of loans from related parties
-
1,280,672
Net cash (used in) provided by investing activities
(16,388,156
)
(56,883,397
)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayment of loans to related parties
-
(1,726,614
)
Repayment of loans to third parties
-
(1,113,692
)
Repayments of bank loans
(601,476
)
-
Purchase of CAE’s loan
-
(13,228,101
)
Reduction of capital
-
(13,930,000
)
Proceed from issuance of convertible promissory notes
-
54,069,000
Redemption of convertible promissory notes
(47,534,119
)
(3,727,500
)
Proceed from exercise of share-based awards
-
14,386
Payment of expense for the reverse recapitalization
-
(904,843
)
Net cash provided by financing activities
(48,135,595
)
19,452,636
Effect of exchange rate changes on cash
(1,543,989
)
(736,274
)
Net (decrease)increase in cash, cash equivalents and restricted cash
(124,524,904
)
(107,568,161
)
Cash, cash equivalents and restricted cash at beginning of year
154,096,801
261,664,962
Cash, cash equivalents and restricted cash at end of year
$
29,571,897
$
154,096,801
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid
$
1,468,397
$
369,410
Income tax paid
$
4,797
$
-
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES:
Cashless exercise of warrants
$
2,168,185
$
18,549,864
Non-cash capital injection to Robostreet by i-Chassis
$
250,000
$
-
Convention from debt to equity interest of HW Electro Co., Ltd.
$
1,000,000
$
-
Non-cash recognition of new leases
$
14,947,878
$
-
View source version on businesswire.com: https://www.businesswire.com/news/home/20240401614612/en/
Investor Relations Contact: MZ North America CENN@mzgroup.us 949-491-8235
Company Contact: PR@cenntroauto.com IR@cenntroauto.com
1 Year Cenntro Chart |
1 Month Cenntro Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
