Kandi Technologies: Mixed Q2 Results with Strategic Growth

Kandi Technologies (KNDI) has released an update.

Kandi Technologies reported an increase in Q2 2024 revenues to $39.1 million, up by 8.9% from the previous year, driven by strong off-road vehicle sales, but faced a 63.1% decrease in net income to $1.6 million. The company maintains a strong cash position with $220 million in cash and equivalents, actively returning capital to shareholders through share repurchases. Kandi also launched NFL-branded golf carts and expanded into the EU and Asian markets, underlining its sustained growth and diversification.

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