Can Micro-Transport Be A Major Driver For Kandi Technologies?
Stephen Simpson, CFA • 59 Comments
Stephen Simpson, CFA • 59 Comments
Tue, May 10, 7:10 AM
Mon, Mar. 14, 7:05 AM
Nov. 9, 2015, 7:01 AM
- Kandi Tech (NASDAQ:KNDI): Q3 EPS of $0.13
- Revenue of $50.53M (+14.3% Y/Y)
Aug. 10, 2015, 7:21 AM
- Kandi Tech (NASDAQ:KNDI): Q2 EPS of $0.10
- Revenue of $47.96M (+45.5% Y/Y)
May 11, 2015, 6:22 PM
- Kandi (NASDAQ:KNDI) closed below $12 after reporting a 71.3% Y/Y increase in EV parts sales to $43M, and a 9% increase in total revenue to $43.8M - sales growth has been pressured by the transitioning of manufacturing to Kandi's EV JV with Geely.
- After selling 3,656 EVs in seasonally stronger Q4, the JV (exploring a Chinese IPO) sold 1,670 "EV products" in Q1 (+37.4% Y/Y), and had revenue of $30.6M and net income of $0.8M. Direct EV sales to Chinese consumers were started in April.
- Gross margin rose to 14.6% from 12.1% a year ago. Thanks to both cost controls and the manufacturing shift, GAAP operating expenses fell 42% Y/Y to $4.47M - G&A spend totaled $3.8M, R&D $571K, and sales/marketing $114K. Kandi ended Q1 with $41.1M in cash, $42.1M in short-term loans, and $12.4M in notes payable.
- Q1 results, PR
May 11, 2015, 8:24 AM
- Kandi Tech (NASDAQ:KNDI): Q1 EPS of $0.07
- Revenue of $43.78M (+9.0% Y/Y)
- Shares +1.11% PM.
Mar. 16, 2015, 9:03 AM
- Kandi Tech (NASDAQ:KNDI): FY14 EPS of $0.33
- Revenue of $170.2M (+80.1% Y/Y)
Nov. 10, 2014, 5:56 PM
- Kandi's (NASDAQ:KNDI) JV with Geely sold 1,950 "EV products" in Q3; the JV sold 4,114 EVs in Q2. Meanwhile, Kandi's own EV products revenue fell to $741K from Q2's $13.2M, as it transitions manufacturing to the JV.
- In its 10-Q, Kandi states "a number of customers had postponed their purchases until after September 1, 2014," in order to be exempt from a 10% purchase tax.
- Nonetheless, Kandi's "EV parts" revenue soared to $35.8M from $17.2M in Q2 and nothing a year ago, thanks to growing orders from the JV; 78% of the sales to the JV involved battery packs. Go-Kart revenue fell to $5.1M from $9.9M a year ago, and ATV revenue to $2.3M from $3.5M.
- Gross margin was 12.4%, and GAAP opex fell 17% Y/Y to $2.9M. Kandi ended Q3 with $62.5M in cash, $22.4M in bank loans, and $13M apiece in notes payable and bonds payable.
- Q3 results, PR
Nov. 10, 2014, 9:34 AM
- Kandi Technologies (NASDAQ:KNDI): Q3 EPS of $0.12
- Revenue of $44.21M (+157.9% Y/Y)
Aug. 11, 2014, 10:51 AM
- 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
Aug. 11, 2014, 9:10 AM
- Kandi Tech (NASDAQ:KNDI): Q2 EPS of $0.08
- Revenue of $32.96M (+171.1% Y/Y)
May 12, 2014, 10:10 AM
- Kandi Tech (KNDI): Q1 adj. Net income of $1.3M.
- Revenue of $40.2M (+173.5% Y/Y)
- Shares +17%.
Mar. 17, 2014, 12:33 PM
- Kandi Technologies' (KNDI +25.3%) EV sales soared 193.7% Y/Y in seasonally huge Q4 to $40M on the back of 3,568 "pure" EV unit sales, fueling a 92% increase in total revenue to $50.6M. Gross margin rose to 22.5% from 17.1% a year ago.
- For the whole of 2013, EV sales rose 144.9% Y/Y to $46.6M, and units 20% to 4,696. ATV sales rose 62.6% to $10.4M, and UTV sales 262.1% to $1.2M.
- G&A spend nearly quadrupled Y/Y in 2013 to $16.1M. R&D spend rose 30% to $3.7M, and sales/marketing fell 12% to a mere $400K.
- Kandi ended the year with $12.8M in cash/equivalents, $13.8M in notes receivable, $34M in short-term bank loans, $16.7M in notes payable, and $13.1M in bonds payable.
- Q4 results, PR
Mar. 17, 2014, 8:38 AM
- Kandi Technologies (KNDI): Q4 Net Income of $4.60M.
- Revenue of $50.6M (+92.2% Y/Y).
Nov. 14, 2013, 8:47 AM
- Kandi Technologies (KNDI): Q3 EPS of -$0.21.
- Revenue of $17.15M (+34.3% Y/Y). (PR)
Kandi Technologies Group, Inc. designs, develops, manufactures and commercializes pure electric vehicles and electric vehicle parts. Its electric vehicle parts include controllers, air conditioning units, drive motors, and body parts and other auto parts. The company conducts its business... More
Sector: Consumer Goods
Industry: Trucks & Other Vehicles
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