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Cenntro Electric | 10-Q: Q2 2024 Earnings Report

Cenntro Electric | 10-Q: Q2 2024 Earnings Report

Cenntro Electric | 10-Q：2024财年二季报
美股SEC公告 ·  2024/08/13 18:05

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Cenntro reported significant revenue growth for Q2 2024, with net revenues increasing 96.4% to $8.3 million compared to $4.2 million in Q2 2023. Vehicle sales rose to $7.1 million, driven by improved sales volume and higher average selling prices from $18,581 to $27,827 per unit. The company sold 255 ECVs during the quarter across multiple models, with strong performance in the North American market generating $4.9 million in revenues.Operating expenses decreased substantially, with selling and marketing expenses down 52.4% to $1.3 million, general and administrative expenses reduced by 17.6% to $7.7 million, and R&D expenses declining 49.2% to $1.1 million. The net loss narrowed to $9.2 million from $14.1 million in Q2 2023, reflecting improved operational efficiency and cost control measures.As of June 30, 2024, Cenntro maintained a solid financial position with $16.2 million in cash and cash equivalents, $7.9 million in accounts receivable, and $41.3 million in inventory. The company continues to focus on strengthening its existing market developments and improving operational efficiency, while expanding its product lineup and geographic presence in key markets.
Cenntro reported significant revenue growth for Q2 2024, with net revenues increasing 96.4% to $8.3 million compared to $4.2 million in Q2 2023. Vehicle sales rose to $7.1 million, driven by improved sales volume and higher average selling prices from $18,581 to $27,827 per unit. The company sold 255 ECVs during the quarter across multiple models, with strong performance in the North American market generating $4.9 million in revenues.Operating expenses decreased substantially, with selling and marketing expenses down 52.4% to $1.3 million, general and administrative expenses reduced by 17.6% to $7.7 million, and R&D expenses declining 49.2% to $1.1 million. The net loss narrowed to $9.2 million from $14.1 million in Q2 2023, reflecting improved operational efficiency and cost control measures.As of June 30, 2024, Cenntro maintained a solid financial position with $16.2 million in cash and cash equivalents, $7.9 million in accounts receivable, and $41.3 million in inventory. The company continues to focus on strengthening its existing market developments and improving operational efficiency, while expanding its product lineup and geographic presence in key markets.
Cenntro在2024年第二季度报告了显著的营业收入增长，净营业收入增长了96.4%，达到830万美元，相比2023年第二季度的420万美元。车辆销售上升至710万美元，得益于成交量的提高和平均销售价格从18581万亿美元每单位上升至27827美元。公司在本季度售出了255辆电动车（ECV），在北美市场表现强劲，创造了490万美元的营业收入。营业费用大幅减少，销售和市场费用下降52.4%至130万美元，综合管理费用减少17.6%至770万美元，研发费用下降49.2%至110万美元。净亏损从2023年第二季度的1410万美元缩减至920万美元，反映了运营效率和成本控制措施的改善。截至2024年6月30日，Cenntro保持了稳健的财务状况，拥有现金及现金等价物1620万美元，应收账款790万美元，存货4130万美元。公司继续致力于加强现有市场的开发和提升运营效率，同时扩展其产品线和在关键市场的地域覆盖。
Cenntro在2024年第二季度报告了显著的营业收入增长，净营业收入增长了96.4%，达到830万美元，相比2023年第二季度的420万美元。车辆销售上升至710万美元，得益于成交量的提高和平均销售价格从18581万亿美元每单位上升至27827美元。公司在本季度售出了255辆电动车（ECV），在北美市场表现强劲，创造了490万美元的营业收入。营业费用大幅减少，销售和市场费用下降52.4%至130万美元，综合管理费用减少17.6%至770万美元，研发费用下降49.2%至110万美元。净亏损从2023年第二季度的1410万美元缩减至920万美元，反映了运营效率和成本控制措施的改善。截至2024年6月30日，Cenntro保持了稳健的财务状况，拥有现金及现金等价物1620万美元，应收账款790万美元，存货4130万美元。公司继续致力于加强现有市场的开发和提升运营效率，同时扩展其产品线和在关键市场的地域覆盖。
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