Cenntro Inc. · NASDAQ:CENN
Cenntro — Cenntro Electric Group — Shareholder Meeting (August 2023)
21 slides from Cenntro's shareholder meeting presentation, Aug 31, 2023
Slide 1: Annual General Meeting Presentation September 2023
ANNUAL GENERAL MEETING PRESENTATION SEPTEMBER 2023 NASDAQ: CENN
Slide 2: Introduction of Key Management and Auditors
2 2 Introduction of Key Management and Auditors Mr. Peter Wang, Executive Chairman, Managing Director and Chief Executive Officer Mr. Edmond Cheng, Chief Financial Officer Mr. David He, Treasurer Mr. Tony Tsai, Secretary Mr. Eric Wang, Wis Audit Pty Ltd
Slide 3: Meeting Format
Meeting Format
Slide 4: Disclaimer
This Presentation has been prepared by Cenntro Electric Group Limited (the “Company”) (NASDAQ: CENN) solely for informational purposes. This presentation contains forward-looking statements that reflect the Company’s intent, beliefs or current expectations about the future. These statements can be r
Slide 5: Recent Developments and Business Highlights
Recent Developments and Business Highlights 5 Key Accomplishments Include Key Statistics Commercial Vehicles Sold* 458 Net Revenue* $8.9M Cash on Hand** $154.0M Patents Granted** 247 Countries Sold or in Service** 25+ Countries Homologated** 32+ * For the full year 2022 ** As of December 31, 2022 Ex
Slide 6: Recent Developments and Business Highlights (Cont.)
Recent Developments and Business Highlights (Cont.) 6 Announced Avantier Motors Company to launch a New Vehicle Product Line: Cenntro wholly owned subsidiary, Avantier Motors Company, launched a new vehicle product line of electric micro-cars intended for urban use. The Avantier is a 3-door hatchbac
Slide 7: FY2022 Financial Highlights
FY2022 Financial Highlights + Revenue increased by 4.3% to + Gross Profit decreased by 134.2% to + Cash and cash equivalents were $8.9 Million $(0.5) million $154.0 million as of December 31, 2022, compared with $261.1 million as of December 31, 2027 Revenue Gross Profit/(Loss) Cash & Cash Equivalen
Slide 8: FY2022 Financial Highlights: Vehicles Sold and Revenue
FY2022 Financial Highlights 8 Number of Vehicles Sold Net Revenue from Spare Parts & Other Service Sales Net Revenue from Vehicle Sales USD in Million USD in Million Units
Slide 9: Financial Summary Highlights – Statements of Operations
Financial Summary Highlights – Statements of Operations 9 Cost of Sales includes non-cash charges of inventory write-down of: $2.2 million for 2022 $1.3 million for 2021 Operating Expenses includes: $6.0 million of expenses related to the provision for doubtful accounts $3.0 million of one-time expe
Slide 10: Financial Summary Highlights – Balance Sheet
10 Financial Summary Highlights – Balance Sheet As of December 31, 2022 Cash and Cash Equivalents of $154.0 million Total Current Assets of $203.0 million Total Current Liabilities of $70.2 million
Slide 11: Financial Summary Highlights – Non-GAAP Financial Measures
11 Financial Summary Highlights – Non-GAAP Financial Measures In addition to our results determined in accordance with GAAP, we believe Adjusted EBITDA, a non-GAAP measure is useful in evaluating operational performance. We use Adjusted EBITDA to evaluate ongoing operations and for internal planning
Slide 12: Financial Summary Highlights – Adjusted EBITDA
12 Financial Summary Highlights – Adjusted EBITDA
Slide 13: Q&A
Q&A
Slide 14: Voting
Voting
Slide 15: Financial and related reports are available at ir.cenntroauto.com
Financial and related reports are available at ir.cenntroauto.com r.cenntroauto.com
Slide 16: Resolution #1 Election of Mr. Jiawei Tong as Class II Director
Resolution #1 16 Election of Mr. Jiawei Tong as Class II Director Jiawei “Joe” Tong is the nominee for Class II Director. Mr. Tong became a member of our Board following the closing of the Combination on December 30, 2021, and serves on each of our audit committee, compensation committee and nominat
Slide 17: Resolution #2 Election of Dr. Yi Zeng as Class II Director
Resolution #2 17 Election of Dr. Yi Zeng as Class II Director Yi Zeng is the nominee for Class II Director. Dr. Zeng became a member of our Board on September 16, 2022, and has over 30 years’ experience in the energy industry, management, marketing and research. From 2016 to 2017, Dr. Zeng served as
Slide 18: Resolution #3 Appointment of Good Faith CPA Ltd for Fiscal Year 2023
Resolution #3 18 More details can be found in the Company’s Notice of Annual General Meeting Appointment of Good Faith CPA LTD for Fiscal Year 2023 The Audit Committee of the Board has selected Good Faith CPA Limited (“Good Faith”) as our United States independent registered public accounting firm f
Slide 19: Resolution #4 The Stock Split Proposal
Resolution #4 19 More details can be found in the Company’s Notice of Annual General Meeting The Stock Split Proposal The Board is asking shareholders to approve the Stock Split Proposal (which will see the Ordinary Shares on issue be consolidated on a 1 for 10 basis (“Consolidation”)) via ordinary
Slide 20: Voting Results
20 An announcement of the outcome of the vote with respect to each Resolution will be: Made and filed on Form 8-K with the U.S. Securities and Exchange Commission when the results are known; Available on the Company’s investor relations website at ir.cenntroauto.com. Voting Results
Slide 21: Thank You
Thank You 3
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