Last $11.90 USD
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As of 8:10 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

kandi technologies group inc (KNDI) Snapshot

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03/18/14 - $22.40
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04/22/13 - $3.55
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kandi technologies group inc (KNDI) Details

Kandi Technologies Group, Inc., through its subsidiaries, designs, develops, manufactures, and commercializes various vehicles. It offers electrical vehicles, all-terrain vehicles, go-karts, and specialized automobiles; and utility vehicles, three-wheeled motorcycles, refitted cars, and various auto generators. Kandi Technologies Group, Inc. sells its products to exporters, importers, distributors, dealers, and business partners in North America, Europe, and China. The company was formerly known as Kandi Technologies, Corp. and changed its name to Kandi Technologies Group, Inc. in December 2012. Kandi Technologies Group, Inc. is headquartered in Jinhua, the People’s Republic of China.

430 Employees
Last Reported Date: 03/17/14

kandi technologies group inc (KNDI) Top Compensated Officers

Chairman, Chief Executive Officer and Preside...
Total Annual Compensation: $32.3K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $24.2K
Compensation as of Fiscal Year 2013.

kandi technologies group inc (KNDI) Key Developments

Kandi Technolgies Group, Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013

Kandi Technolgies Group, Inc. announced consolidated earnings results for the fourth quarter and full year ended December 31, 2013. Revenues rose 92.0% to $50.6 million from $26.3 million in the fourth quarter of 2012. EV sales increased significantly to $40.0 million, a 193.7% jump from the same period last year. During the quarter, the Company sold 3,568 units of pure electronic vehicles. GAAP net loss was $14.7 million compared to a net income of $2.2 million in the same period of last year, mainly due to increases of non-cash charges, such as change of fair value of financial derivatives, higher income tax, general and administrative expenses, and interest expenses. Non-GAAP net income was $4.6 million, up nearly 259% year-over-year from $1.3 million. For the period, the company reported net revenues of $94,536,045 compared to $64,513,670 a year ago. Income from continuing operations was $1,558,187 compared to $5,309,292 a year ago. Loss before income taxes was $19,546,729 compared to income before income taxes of $7,573,214 a year ago. Net loss was $21,140,723 or $0.61 per diluted share compared to net income of $6,049,479 or $0.20 per diluted share a year ago. Net cash provided by operating activities was $14,687,446 compared to net cash used in operating activities of $10,721,895 a year ago. Purchases of plant and equipment, net were $158,830 compared to $9,072,230 a year ago. Purchases of construction in progress were $16,134. GAAP net loss in 2013 was $21.1 million, due to a significant increase in the fair value of financial derivatives, general and administrative expenses, and interest expenses compared to net income of $6.0 million in 2012. Non-GAAP net income increased 23.9% to $5.2 million from $4.2 million from the previous year.

Kandi to Expand Electric Vehicle Rental to Beijing, Shanghai

Kandi Technologies is planning to expand electric vehicle (EV) rental service to Beijing and Shanghai, China. Kandi is choosing local partners in Beijing, Chengdu, and Shanghai to further its expansion process in China. The company is also working with the local government in Hangzhou to provide rental stations in parking lots, department stores, high-speed train stations, and hotels. The company expects the rental network to take three to five years to cover Hangzhou entirely.

Kandi Technologies Group, Inc. Announces Production Results for December of 2013

Kandi Technologies Group, Inc. announced production results for December of 2013. For the month, the production of China's pure electric passenger vehicles reached 6,165 units.


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