Seeking Alpha

Kandi +8.5% on Q2 EV revenue surge

Kandi's (NASDAQ:KNDI) EV products revenue (40% of total revenue) rose 58% Q/Q and 522% Y/Y in Q2 to $13.25M. As previously announced, 4,114 EVs were sold by the Kandi/Geely JV, +238% Q/Q.

Gross margin was 21.9%, up from 12.1% in Q1 and down from 23.1% a year ago. GAAP opex rose 121% Y/Y to $4.58M; R&D spend was only $972K.

Kandi ended Q2 with $11.3M in cash/equivalents, down from $20.5M at the end of Q1.

Q2 results, PR

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Comments (5)
  • t0nutz
    , contributor
    Comments (899) | Send Message
    no negative comments?? things that make you go hmmmmm :)
    11 Aug 2014, 11:27 AM Reply Like
  • JosephCortes
    , contributor
    Comments (1269) | Send Message
    Why is KNDI so undervalue?
    With their latest Q2 results isn't this stock worth way much more?
    11 Aug 2014, 11:28 AM Reply Like
  • Sen Zhao
    , contributor
    Comment (1) | Send Message
    EV sales rose by 238%, while EV revenue only rose by 58%?
    11 Aug 2014, 03:35 PM Reply Like
  • captainccs
    , contributor
    Comments (1369) | Send Message
    >>>EV sales rose by 238%, while EV revenue only rose by 58%?


    Yes because the JV is not consolidated in the accounting. The profit from the JV is reported as a single line item "Share of profit after tax of JV" under "OTHER INCOME (EXPENSE)"
    11 Aug 2014, 05:09 PM Reply Like
  • yexiaodan
    , contributor
    Comments (10) | Send Message
    Why q2 end up less cash then q1?
    Where the money went?
    13 Aug 2014, 10:05 AM Reply Like
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