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Cenntro Electric Group Announces Receipt of Notice from Nasdaq Regarding Late Filing of Annual Report on Form 10-K
FREEHOLD, N.J.--(BUSINESS WIRE)-- Cenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company
About this update from Cenntro Inc.
[{"type":"text","content":" FREEHOLD, N.J.--(BUSINESS WIRE)--\nCenntro Electric Group Limited (NASDAQ: CENN) (“Cenntro” or “the Company”), a leading electric vehicle technology company with advanced, market-validated electric commercial vehicles, today announced it received a written notice (the “Notice”) from The Nasdaq Stock Market LLC (\"Nasdaq\") it no longer complies with Nasdaq Listing Rule 5250(c)(1) (the \"Rule\") as a result of its failure to file an annual report on Form 10-K for the year ended December 31, 2022 (the “Annual Report”) with the Securities and Exchange Commission (the \"SEC\") by the required due date.\n\n\nThis notification has no immediate effect on the listing of the Company's shares on Nasdaq.\n\n\nUnder Nasdaq Rules the Company has 60 calendar days from receipt of the Notice to submit a plan to regain compliance with the Rule. If Nasdaq accepts the Company’s plan, Nasdaq may grant an exception of up to 180 calendar days from the due date of the 10-K, or until October 16, 2023, to regain compliance.\n\n\nThe Company is in the process of preparing the plan to regain compliance and finalizing the financial statements for the year ending December 31, 2022. The Company will submit the plan to regain compliance and file its Annual Report as soon as possible.\n\n\nAbout Cenntro Electric Group Ltd.\n\n\nCenntro Electric Group Ltd. (or \"Cenntro\") (NASDAQ: CENN) is a leading designer and manufacturer of electric commercial vehicles. Cenntro's purpose-built ECVs are designed to serve a variety of organizations in support of city services, last-mile delivery, and other commercial applications. Cenntro plans to lead the transformation in the automotive industry through scalable, decentralized production, and smart driving solutions empowered by the Cenntro iChassis. For more information, please visit Cenntro's website at: www.cenntroauto.com.\n\n\nForward-Looking Statements\n\n\nThis 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),'' \"estim...