Quarterly ResultMay 14, 2026, 04:39 PM
Cenntro Q1 Net Loss $3.91M; Restructures European Operations
AI Summary
Cenntro Inc. reported a net loss of $3.91 million for Q1 2026, an improvement from $5.65 million in Q1 2025, despite a decrease in net revenues to $1.21 million. The company is restructuring its European operations, transitioning from a direct sales model to a centralized dealership system, and reallocating resources to North America and Asia. This quarter's results also reflect the impact of a 1-for-60 reverse stock split effected in April 2026 and an increased investment in Hangzhou Hezhe.
Key Highlights
- Net loss attributable to shareholders improved to $(3.91)M in Q1 2026 from $(5.65)M in Q1 2025.
- Net revenues decreased to $1.21M in Q1 2026 from $2.14M in Q1 2025.
- Loss per common share improved to $(2.66) in Q1 2026 from $(10.99) in Q1 2025.
- European operations are being restructured and divested, including deregistration of Cenntro EV Center Italy S.R.L.
- Net cash used in operating activities decreased to $(2.81)M in Q1 2026 from $(4.95)M in Q1 2025.
- Total assets decreased to $73.25M as of March 31, 2026, from $74.43M at year-end 2025.
- Company completed a 1-for-60 reverse stock split on April 13, 2026.
- Increased equity interest in Hangzhou Hezhe to 80% with an additional 60% acquisition.