Company: CENN
Filing Date: 2025-06-04
Form Type: 8-K
Source: 0001140361-25-021428
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Company: Cenntro Inc.
Filing Date: 2025-06-04
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

Departure of Director

On May 31, 2025, Mr. Jiawei “ Joe” Tong, the director of the Company, notified the board of
directors of the Company (the “ Board”) of his decision to resign his position on the Board of Cenntro Inc. (the “ Company”) and as chair of the compensation
committee of the Board, and member of the audit and nomination committees of the Board, effective immediately. Mr. Tong’s decision was not the result of any
disagreement between Mr. Tong and the Company on any matters relating to the Company’s operations, policies or practices. Due to the vacancy left by Mr. Tong, the Board intends rectify the vacancy on the audit committee of the Board.

Appointment of Director

On May 31, 2025, at the recommendation of the Nominating Committee and Compensation Committee of the Board approved and confirmed the appointment of Mr.
Guangguang “ Steve” Qin with annual compensation of US$45,000 as the succeeding director to fill in the vacancy until the Company’s next annual meeting of shareholders and until his successor is duly elected and qualified, or until his earlier death,
resignation, or removal. The Board has determined Mr. Qin is an “independent” director under applicable U. S. Securities and Exchange Commission (“ SEC”) and Nasdaq Marketplace Rules. Thus, Mr. Qin will be serving on the Board of Directors as a
non-employee, independent director.

The biographical information of the newly appointed director is set forth below:

Mr. Guangguang “ Steve” Qin

Mr. Qin has over 30 years of experience in investment management across the finance, technology, and healthcare sectors. From 1993 to 1999, Mr. Qin served as Senior Vice
President of United Pharmaceutical Industries in the United States. From 2001 to 2005, he served as Director and President, Asia-Pacific Region at Bridgecreek International. From 2006 to 2010, he was President of the China Region at PEM Group. From
2011 to 2015, Mr. Qin served as Senior Partner at Cybernaut (China) Investment. Between 2015 and 2019, he was Chief Representative for the China Region at American Education Center. From 2016 to 2021