Kandi Technologies Group, Inc. Stock Price, News & Analysis

Kandi Technologies Group, Inc. (NASDAQ: KNDI) announced it will release its second quarter 2022 financial results on August 8, 2022, before U.S. market opening. A conference call will take place at 8:00 A.M. Eastern Time on the same day, featuring prepared remarks and a Q&A session. Interested parties can dial in via toll-free or international numbers, or access a live webcast on Kandi's Investor Relations page. This announcement signals Kandi's ongoing commitment to transparency and communication with its stakeholders.

Kandi Technologies Group reported a 55.8% increase in revenue for Q1 2022, reaching $24.9 million compared to $16.0 million in Q1 2021. Key drivers included off-road vehicles and lithium-ion cell sales. However, gross margin declined to 9.6% from 27.3% year-over-year, attributed to a shift towards lower-margin products. The net loss improved significantly to $1.6 million, or $0.02 per share, down from $6.4 million in the previous year. Cash reserves stood at $229.2 million as of March 31, 2022.

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.