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Cenntro Electric | 10-Q: Q1 2024 Earnings Report

Cenntro Electric | 10-Q: Q1 2024 Earnings Report

Cenntro Electric | 10-Q:2024財年一季報
美股SEC公告 ·  05/15 16:19

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Cenntro Electric, a leading electric commercial vehicle manufacturer, reported a net revenue of approximately $3.4 million for the first quarter ended March 31, 2024, a slight decrease from the $3.5 million reported in the same period in 2023. The company's net loss for the quarter was $9.2 million, an improvement from the $11.1 million net loss in the previous year. The decrease in net revenue was primarily due to a reduction in vehicle sales, which was partially offset by an increase in spare-part sales. Despite the decrease in net revenue, the company's gross margin on vehicle sales improved from 1.63% in Q1 2023 to 6.34% in Q1 2024. Cenntro Electric's operating expenses saw a reduction, with selling and marketing expenses dropping by approximately 29.6% and general and administrative expenses by...Show More
Cenntro Electric, a leading electric commercial vehicle manufacturer, reported a net revenue of approximately $3.4 million for the first quarter ended March 31, 2024, a slight decrease from the $3.5 million reported in the same period in 2023. The company's net loss for the quarter was $9.2 million, an improvement from the $11.1 million net loss in the previous year. The decrease in net revenue was primarily due to a reduction in vehicle sales, which was partially offset by an increase in spare-part sales. Despite the decrease in net revenue, the company's gross margin on vehicle sales improved from 1.63% in Q1 2023 to 6.34% in Q1 2024. Cenntro Electric's operating expenses saw a reduction, with selling and marketing expenses dropping by approximately 29.6% and general and administrative expenses by 13.3% compared to the same quarter last year. The company's research and development expenses, however, increased by 10.1% as it continues to invest in new electric commercial vehicle models and technologies. Cenntro Electric's business development efforts included the transformation of its go-to-market model to Cenntro Branded EV Centers globally, starting in 2022. The company's future plans involve regionalizing manufacturing and supply chains in key markets, expanding its channel partner network, and increasing investment in research and development to further its technology in vehicle development and sustainable energy solutions. As of March 31, 2024, Cenntro Electric had a working capital of approximately $67.5 million and plans to fund future operations through cash on hand, operations, credit lines, and potential equity and debt financings.
領先的電商用車製造商Cenntro Electric報告,截至2024年3月31日的第一季度淨收入約爲340萬美元,略低於2023年同期的350萬美元。本季度公司淨虧損爲920萬美元,較去年同期的1110萬美元淨虧損有所改善。淨收入減少主要是由於車輛銷售減少,部分抵消了備件銷售增加。儘管淨收入減少,公司在車輛銷售方面的毛利率從2023年第一季度的1.63%提高到了2024年第一季度的6.34%。Cenntro Electric的營業費用有所降低,銷售和市場費用較去年同期下降了約29.6%,而總部及行政費用則下降了13.3%。然而,由於公司繼續投資於新的電商用車模型和技術,其研究與開發費用增加了...展開全部
領先的電商用車製造商Cenntro Electric報告,截至2024年3月31日的第一季度淨收入約爲340萬美元,略低於2023年同期的350萬美元。本季度公司淨虧損爲920萬美元,較去年同期的1110萬美元淨虧損有所改善。淨收入減少主要是由於車輛銷售減少,部分抵消了備件銷售增加。儘管淨收入減少,公司在車輛銷售方面的毛利率從2023年第一季度的1.63%提高到了2024年第一季度的6.34%。Cenntro Electric的營業費用有所降低,銷售和市場費用較去年同期下降了約29.6%,而總部及行政費用則下降了13.3%。然而,由於公司繼續投資於新的電商用車模型和技術,其研究與開發費用增加了10.1%。Cenntro Electric的業務發展包括將其銷售模式轉變爲Cenntro品牌的EV中心,2022年全球推出。公司未來的計劃包括在主要市場地區實現地區製造和供應鏈、擴大其渠道合作伙伴網絡,並增加對研究和開發的投資,以進一步發展其車輛開發和可持續能源解決方案技術。截至2024年3月31日,Cenntro Electric的營運資金約爲6750萬美元,計劃通過現金、運營、信貸額度以及可能的股權和債務融資來資助未來運營。
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