JINHUA, CHINA, May 01, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leader in all-electric personal transportation and utility vehicles, today announced that its manufacturing facility in Garland, Texas has officially commenced operations. The first electric golf cart assembled in the U.S. has come off the production line, representing a major milestone in Kandi’s “Made in North America” initiative and a key advancement in the Company’s U.S. expansi ...

Financial Data and Key Metrics Changes - The company reported modest yet meaningful revenue growth in 2024, driven by steady demand for electric off-road vehicles and optimization of its geographic footprint [6][7] - The company maintained profitability and a robust cash position while navigating market dynamics [7] Business Line Data and Key Metrics Changes - The core electric off-road segment remains the engine of the company's business, with the introduction of new models tailored to North American preferences, including the Innovator e 10 k utility vehicle and a new lineup of electric golf carts [7] - The company enhanced operational resilience through targeted upgrades to its manufacturing footprint in Taiwan, increasing flexibility and responsiveness to customer demand [8] Market Data and Key Metrics Changes - The company made a strong presence at multiple golf cart expos and industry summits, earning praise from dealers and attendees [7] Company Strategy and Development Direction - The company aims to bring forward innovative battery and vehicle solutions, expand its dealer network, deepen strategic partnerships, and execute a U.S. localization roadmap [8][9] - A recent partnership with CBAK Energy aims to localize lithium cell and pack production in the United States, positioning the company for sustainable long-term growth [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence that the steps taken in 2024 have strengthened the company's platform and prepared it to seize new opportunities [10] Other Important Information - A management incentive program has been implemented to align leadership rewards with key performance metrics, motivating the senior team to focus on sales growth, operational excellence, and new product development [8] Q&A Session Summary - There was no live Q&A session for this call, and inquiries were directed to email for responses within five business days [11][12]

JINHUA, China, April 28, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the "Company", "we" or "Kandi") (NASDAQ GS: KNDI), today announced its financial results for the full year ended December 31, 2024. Full Year 2024 Highlights Feng Chen, CEO of Kandi, commented, "In 2024, Kandi expanded its footprint across North America, executing with discipline to launch several new electric utility vehicles and crossover golf carts tailored to U.S. consumer preferences. Themed models, including those inspir ...

JINHUA, CHINA, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) ("Kandi" or the "Company"), a leader in all-electric personal transportation and utility vehicles, today announced that its Hainan facility has been certified as a National Green Factory by China's Ministry of Industry and Information Technology for 2024. This prestigious recognition comes with a government award of RMB 2 million (approximately US$ 0.27 million), highlighting Kandi's significant contributions t ...

JINHUA, CHINA, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leader in all-electric personal transportation and utility vehicles, today announced that its Hainan facility has been certified as a National Green Factory by China’s Ministry of Industry and Information Technology for 2024. This prestigious recognition comes with a government award of RMB 2 million (approximately US$ 0.27 million), highlighting Kandi’s significant contributions t ...

Business Model Pivot - Kandi Technologies is successfully pivoting its business model to focus on off-road vehicles, including golf carts, utility vehicles (UTVs), and all-terrain vehicles (ATVs), moving away from the saturated traditional EV market [2] - The company has a positive commercial outlook for its golf carts in North America and globally, supported by a limited-edition collaboration with Lowe's featuring NFL branding, launched in fall 2024 [2] Product Portfolio and Supply Chain - Kandi's vehicle portfolio is customizable to more than 20 models, supported by an established supply chain in China and a solid intellectual property (IP) portfolio for product differentiation [2] - The company is establishing new manufacturing and production channels in the United States and Taiwan to mitigate the impact of tariffs on goods produced in China [2] - Kandi has a diversified portfolio of parts across the EV value chain, some of which are not subject to China tariff laws, supporting its growth strategy [2] Growth Strategy and Investments - In October 2024, Kandi issued a 5-year growth forecast through 2029, focusing on smart mobility, a high-growth market in China [2] - The company plans to invest $130 million to develop production lines in the U.S. for off-road vehicles and lithium battery swap technologies to enhance its supply chain [2] Leadership and Management - Kandi appointed Feng Chen as its new CEO in October 2024, leveraging his strong background in lithium battery technologies [2] - Chairman Xueqin Dong, the previous CEO, has extensive leadership experience in the EV market and is a thought leader in electric vehicle infrastructure and safety [2] Financial Position - As of September 30, 2024, Kandi had $260 million in cash, restricted cash, and investments, with a working capital surplus, positioning the company well to invest in growth initiatives [2] - The company is well-positioned to invest in building supply chain infrastructure in the U.S., acquiring companies in growth industries, and buying back its shares [2] Valuation and Fair Value - Kandi's fundamentals are strong but not reflected in its valuation, with the company trading below its balance sheet cash on hand, tangible book value, and shareholder equity as of January 2025 [2] - Based on forward enterprise value/sales analysis, the fair value of Kandi is estimated at $7.00 per share, well above current levels [2] Company Overview - Kandi Technologies Group Inc develops, manufactures, and commercializes fully electric vehicle products and related technologies, with primary markets in the United States and China [4] - The company's product portfolio focuses on off-road electric vehicles (EVs), power electric motors and controllers, lithium batteries and battery packs, and battery exchange systems [4]

JINHUA, CHINA, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (“Kandi” or the “Company”), a leading producer of all-electric personal transportation and utility vehicles, today announced that, following a thorough review and decision by its management team, Mr. Bin Yu has been appointed Chief Executive Officer (CEO) of SC Autosports (d/b/a Kandi America), the Company’s U.S. subsidiary. This move is part of Kandi’s strategic efforts to advance high-quality development ini ...

Financial Data and Key Metrics Changes - Third quarter revenue was $29.9 million, a decrease from $36.4 million in the same period of 2023, while nine months revenue totaled $89.8 million, a decrease of 5.7% year-over-year [10] - Revenue from off-road vehicles and associated parts in Q3 was $27.5 million, down 9.2% from the prior-year quarter, while revenue for the first nine months slipped 1% to $81.5 million [10][12] Business Line Data and Key Metrics Changes - Off-road vehicles and associated parts remained the primary revenue source, contributing significantly to overall revenue despite the decline [10] - The company is focusing on the all-electric off-road vehicle segment, which holds potential for growth, with recent product launches like NFL-branded golf carts enhancing brand visibility [11] Market Data and Key Metrics Changes - The company is targeting growth in various international markets, including Southeast Asia, the Middle East, and Europe, while also focusing on the fast-growing smart mobility sector in China [12][13] - The establishment of U.S.-based production lines for golf carts and utility vehicles is part of the strategy to improve delivery and support in North America [12] Company Strategy and Development Direction - A detailed growth plan for 2025 to 2029 has been developed, focusing on leveraging technological innovation and enhancing product offerings [10][12] - The company aims to position itself as a top supplier and operator in China's battery swapping market, which is expected to grow significantly [13] Management's Comments on Operating Environment and Future Outlook - Management acknowledged pressures from trade tensions and the complexity of the global economic landscape but expressed confidence in the company's strong financial position with $260 million in cash and equivalents [14] - The management team emphasized the importance of effective execution and sound strategies to support steady growth and shareholder value [15] Other Important Information - The company has initiated a share repurchase program, having repurchased 1,480,786 shares at an average price of $2.49, reflecting confidence in future performance [14] - The management is in the due diligence stage for the acquisition of Hangzhou Honghu, a car-hailing platform, which is expected to enhance Kandi's presence in the smart mobility business [60][64] Q&A Session Summary Question: Will the company provide full-year guidance for 2024 and Q1 2025? - Management indicated that guidance will be disclosed in due course based on the company's development and assessment [25] Question: What is the management's view on the proposed increase in shares while the stock is at a low? - Management acknowledged the concerns regarding dilution but emphasized the importance of the equity incentive plan to attract and retain talent [46] Question: Is there a clause in the joint venture with Geely that prohibits entering the electric car business? - Management confirmed that there is no such clause [53] Question: What is the status of the acquisition of Hangzhou Honghu? - The acquisition is in the due diligence stage, and no written agreement is in place yet [60][64] Question: How does the company plan to compete in lithium battery production? - Management expressed confidence in their supply chain and competitive products in the U.S. market [68] Question: Will the company consider a tender offer to buy back shares? - Management stated that they are evaluating the possibility of share buybacks based on market conditions and long-term strategy [47] Question: What is the company's plan for international expansion? - The company has started trial sites in Europe and Southeast Asia, expecting sales volume growth next year [104] Question: Why has there been only one shipment from Hartford in Taiwan? - The shipment was for trial production, and more shipments will follow as production stabilizes [94]

Nine-Month Revenue of Nearly $90M, with Off-Road Vehicles as the Core Revenue DriverStrong Financial Position with $260M in LiquidityNew Leadership to Drive Technology Innovation and Expand Growth, Boosting Market Edge and Launching a Fresh Chapter for the Company JINHUA, China, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company”, “we” or “Kandi”) (NASDAQ GS: KNDI), today announced its financial results for the third quarter of 2024. Third Quarter and Nine Months 2024 Financial H ...

Jinhua, China, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (NASDAQ GS: KNDI) (the "Company" or "Kandi") announced today that it will report its third quarter 2024 financial results on Monday, November 18, 2024.  The Company has scheduled a conference call and live webcast to discuss its financial results at 8:00 A.M. Eastern Time (9:00 P.M. Beijing Time) on Monday, November 18, 2024. Management will deliver prepared remarks to be followed by a question and answer session.  The dial-in d ...