Welcome to our dedicated page for Kandi Technologies Group news (Ticker: KNDI), a resource for investors and traders seeking the latest updates and insights on Kandi Technologies Group stock.
Kandi Technologies Group, Inc. (NASDAQ: KNDI) delivers innovative electric vehicles and battery systems for global markets. This dedicated news hub provides investors and industry observers with verified updates on corporate developments, strategic initiatives, and operational milestones.
Access real-time press releases covering earnings announcements, product launches, and partnership agreements. Our curated collection simplifies tracking KNDI's progress in EV manufacturing, off-road vehicle innovations, and battery technology advancements. Key updates include regulatory filings, executive insights, and market expansion efforts across the U.S. and China.
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Kandi Technologies Group, Inc. (KNDI) will report its first quarter 2022 financial results on May 9, 2022, before the U.S. market opens. A conference call is scheduled for the same day at 8:00 A.M. Eastern Time, where management will present the results followed by a Q&A session. Investors can access the call via toll-free and international numbers or through a live webcast on Kandi's Investor Relations page. The company specializes in the research, development, manufacturing, and sales of vehicular products, particularly electric vehicle parts.
Kandi Technologies Group, Inc. (KNDI) reported a significant increase in revenue for 2021, reaching $91.5 million, up 18.9% from $76.9 million in 2020. The company achieved a net income of $22.9 million ($0.30 per share), compared to a loss of $10.4 million the previous year. High growth in the electric scooter segment surged by 420.6% to $30.0 million. Despite challenges in the pure electric vehicle market, Kandi plans to focus on the electrified off-road vehicle sector, aiming to lead this market in China within three years.
Kandi Technologies Group, Inc. (KNDI) will release its full year 2021 financial results on March 15, 2022, before the U.S. stock market opens. A conference call will follow at 8:00 A.M. Eastern Time to discuss these results, featuring prepared remarks and a Q&A session. Investors can access the call via toll-free or international dial-in numbers, and a webcast will also be available. Kandi is a key player in the manufacturing of electric vehicle parts and off-road vehicles, operating through its subsidiary, Zhejiang Kandi Technologies.
Kandi Technologies Group, Inc. (KNDI) announced a strategic partnership with Hunan Hengrun Automobile Co., Ltd. to produce battery-swap enabled electric vehicles under the 'Henghe' brand. This collaboration will leverage Kandi's expertise in battery swapping and Hengrun's vehicle manufacturing capabilities. Kandi has produced over 50,000 electric vehicles and holds numerous battery-swap patents, positioning the company as a leader in China's EV industry. The agreement aims to enhance benefits for customers and stimulate the EV market in China.
Kandi Technologies Group announced that its subsidiary, Huiyi, has begun mass production of the lithium iron phosphate battery IFR18650-2200mAh. This battery boasts a 10% higher energy capacity than its predecessor and 22% higher than the industry average. The new battery's energy density of 161.8Wh/kg demonstrates Huiyi's advancements in technology. Chairman Hu Xiaoming expressed confidence that Kandi can enhance its market position in the electric vehicle supply chain through this innovation.
Kandi Technologies Group (KNDI) announced a stock repurchase program authorized by its Board of Directors, allowing for the repurchase of up to $20 million in common stock. This initiative aims to utilize excess cash and leverage the perceived undervaluation of the company in the market. The buyback will commence on December 10, 2021, and is expected to conclude by the end of 2022, with updates provided through Form 10-K or Form 10-Q filings. The program is flexible and depends on market conditions, allowing for discretion in the timing and amount of repurchased shares.
Kandi America, the U.S. subsidiary of Kandi Technologies Group (NASDAQ: KNDI), has launched its first all-electric off-road UTV, the K32. With two versions priced at $27,699 and $34,499, the K32 offers a range of up to 60 miles for the standard version and 150 miles for the long-range model. Kandi aims to enhance the off-road recreational vehicle market by utilizing its EV technology. Deliveries are expected to start in Q1 2022 through a dealer network with financing options available.
Kandi Technologies Group reported a 10.3% decline in Q3 2021 revenues, totaling $16.8 million, down from $18.7 million in Q3 2020. The company experienced a net loss of $7.9 million per share, compared to a loss of $1.5 million last year. Electric vehicle parts revenue fell significantly, while e-Scooter sales surged nearly 600%. Working capital remains strong at $289 million, with a cash balance of $211 million. Management anticipates a gradual recovery in the EV market, impacted by ongoing supply chain constraints.
Kandi Technologies Group (KNDI) will announce its third quarter 2021 financial results on November 9, 2021, before the U.S. market opens. A conference call is scheduled for the same day at 8:00 A.M. ET, providing a platform for management to present financial insights and engage in a Q&A session. Investors can join the call using the provided dial-in numbers or via the webcast link. The company specializes in manufacturing electric vehicle parts and off-road vehicles, operating primarily through its subsidiary in China.
Kandi Technologies Group, Inc. (KNDI) has announced it received the final payment of RMB 308 million (approximately $47.3 million) from Geely for the sale of its 22% equity in Fengsheng Automotive Technologies. The first installment was received upon local authority approval, with the second installment expected within six months. This cash infusion strengthens Kandi's financial position, allowing it to pursue strategic opportunities without competitive conflicts following the exit from Fengsheng. The company expresses optimism about its prospects due to its financial and technological strengths.
