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Kandi Technologies (KNDI)
NASDAQ:KNDI
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Kandi Technologies
(NASDAQ:KNDI)
Rating:52Neutral
Price Target:
$1.50
▼(-9.09% Downside)
Kandi Technologies (KNDI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$122.96M
Dividend YieldN/A
Average Volume (3M)317.67K
Price to Earnings (P/E)―
Beta (1Y)0.36
Revenue Growth3.21%
EPS Growth-6985.88%
CountryUS
Employees840
SectorConsumer Cyclical
Sector Strength68
IndustryAuto - Parts
Share Statistics
EPS (TTM)0.02
Shares Outstanding85,985,664
10 Day Avg. Volume686,949
30 Day Avg. Volume317,674
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.03
Enterprise Value/Revenue0.03
Enterprise Value/Gross Profit0.11
Enterprise Value/Ebitda-1.48
Forecast
1Y Price Target
$1.50Price Target Upside-9.09% Downside
Rating ConsensusHold
Number of Analyst Covering1
Kandi Technologies Business Overview & Revenue Model
Company DescriptionKandi Technologies Group, Inc. designs, develops, manufactures, and commercializes electric vehicle (EV) products and parts, and off-road vehicles in the People's Republic of China and internationally. It offers off-road vehicles, including all-terrain vehicles, utility vehicles, go-karts, electric scooters, and electric self-balancing scooters, as well as related parts; and EV parts comprising battery packs, body parts, EV controllers, air conditioning units, and other auto parts. 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. was founded in 2002 and is headquartered in Jinhua, the People's Republic of China.
How the Company Makes MoneyKandi Technologies generates revenue primarily through the sale of electric vehicles, electric scooters, and battery systems. The company has established strategic partnerships with various local governments and enterprises, which facilitate its market penetration and distribution of its products. Additionally, Kandi earns income from licensing its technology and through joint ventures, particularly in the development of EV infrastructure and battery management systems. The company also benefits from government incentives and subsidies aimed at promoting electric vehicle usage, which can enhance its profitability and sales volume.
Kandi Technologies Earnings Call Summary
Earnings Call Date:Aug 19, 2025
(Q2-2025)
| % Change Since: 15.38%|
Next Earnings Date:Nov 24, 2025
Earnings Call Sentiment Neutral
The call presented a mixed picture with significant improvements in gross margin and strategic partnerships in emerging segments, but faced challenges with a notable decline in revenue and net income. Despite these challenges, the company maintains a strong financial position and is optimistic about its strategic initiatives.Q2-2025 Updates
Positive Updates
Gross Margin Improvement
Gross margin improved significantly to 45.2% for the first half of 2025, up 13.5 percentage points from 31.7% in the same period of 2024, reflecting effective refined operations and cost control initiatives.
Expansion in Retail Outlets and Dealer Network
Products are now carried in 1,050 retail outlets, and the dealer network has grown, with the dealer to retail sales mix improving from 129 to 228 by end of June 2025.
Innovation and Partnerships in Emerging Segments
Deep collaboration with Deep Robotics to develop intelligent equipment and successful securing of a first order with CATL for battery swapping station equipment, supporting a plan for 10,000 stations.
Strong Financial Position
As of June 30, 2025, the company held $257 million in cash, cash equivalents, restricted cash, and certificates of deposit, indicating strong liquidity.
Negative Updates
Significant Revenue Decrease
Net revenues were $36.3 million, down 39.3% from $59.8 million for the same period of 2024, primarily due to lower sales of off-road vehicles and EV products.
Decrease in Net Income
Net income was $1.7 million compared to $2.4 million for the same period of 2024, reflecting a decrease in overall profitability.
Increased R&D Expenses
Research and development expenses increased by 48.5% to $2.5 million from $1.7 million in 2024, mainly due to a battery product R&D project.
Company Guidance
During the earnings call for the first half of 2025, Kandi Technologies highlighted several financial metrics and strategic initiatives. The company reported a significant improvement in gross margin, which increased to 45.2% from 31.7% in the same period of 2024, driven by refined operations and cost control measures. Net revenues, however, declined by 39.3% to $36.3 million from $59.8 million in 2024, primarily due to lower sales of off-road vehicles and EV products. Despite this, the company maintained a strong cash position with $257 million in cash, cash equivalents, restricted cash, and certificates of deposit as of June 30, 2025. Operating expenses were reduced by 21.4% to $18.3 million, while net income slightly decreased to $1.7 million from $2.4 million in the previous year. Strategically, Kandi is enhancing its market presence through key partnerships and expanding into intelligent equipment and new energy infrastructure sectors, which includes collaboration with Deep Robotics and securing a pivotal order for heavy truck battery swapping station equipment with CATL.Kandi Technologies Financial Statement Overview
Summary
Kandi Technologies faces significant financial challenges, with inconsistent revenue growth, negative profitability, and volatile cash flows. The balance sheet shows a low leverage level and a stable asset base, but the company struggles to generate positive returns for shareholders. Overall, the financial health of the company is concerning, highlighting the need for strategic improvements to enhance profitability and cash flow stability.Income Statement
Kandi Technologies has experienced inconsistent revenue growth, with a 3.2% increase in 2024. However, the company struggles with profitability, as indicated by a negative net profit margin and declining EBIT and EBITDA margins. The gross profit margin has slightly decreased over the years, reflecting challenges in maintaining cost efficiency.45
Neutral
Balance Sheet
The company maintains a relatively low debt-to-equity ratio of 0.25, indicating conservative leverage. However, the return on equity is negative due to consistent net losses, impacting shareholder value. The equity ratio is stable, suggesting a solid asset base, albeit with declining total assets over time.55
Neutral
Cash Flow
Kandi Technologies demonstrates a volatile cash flow situation. The operating cash flow remains negative, reflecting challenges in generating cash from operations. Free cash flow is also negative, indicating potential liquidity concerns. Despite this, the company has managed to maintain positive investing and financing cash flows.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 118.15M | 127.57M | 123.60M | 117.81M | 91.49M | 76.92M |
| Gross Profit | 37.00M | 39.27M | 41.37M | 19.52M | 16.25M | 13.49M |
| EBITDA | -2.72M | -41.86M | 16.71M | -379.00K | 39.66M | -5.28M |
| Net Income | -5.84M | -50.50M | 7.13K | -12.12M | 22.86M | -10.39M |
Balance Sheet | ||||||
| Total Assets | 542.21M | 473.90M | 495.46M | 482.98M | 520.16M | 495.25M |
| Cash, Cash Equivalents and Short-Term Investments | 94.16M | 42.79M | 67.70M | 165.25M | 184.27M | 142.08M |
| Total Debt | 83.91M | 84.86M | 41.53M | 24.69M | 11.36M | 92.44K |
| Total Liabilities | 132.66M | 127.27M | 88.95M | 85.29M | 76.96M | 91.48M |
| Stockholders Equity | 407.17M | 344.70M | 404.12M | 396.97M | 443.20M | 403.77M |
Cash Flow | ||||||
| Free Cash Flow | -116.04M | -18.76M | -114.41M | 27.66M | -18.90M | -69.07M |
| Operating Cash Flow | -115.85M | -17.82M | -101.16M | 31.48M | 241.69K | -50.88M |
| Investing Cash Flow | 79.60M | 25.72M | 32.28M | -35.03M | 22.21M | 51.15M |
| Financing Cash Flow | -6.26M | 22.51M | 14.83M | -4.33M | 747.93K | 126.45M |
Kandi Technologies Technical Analysis
Positive
1.65
Price Trends
1.19
Positive
1.19
Positive
1.21
Positive
Market Momentum
0.09
Negative
79.33
Negative
88.77
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KNDI, the sentiment is Positive. The current price of 1.65 is above the 20-day moving average (MA) of 1.26, above the 50-day MA of 1.19, and above the 200-day MA of 1.21, indicating a bullish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 79.33 is Negative, neither overbought nor oversold. The STOCH value of 88.77 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KNDI.
Kandi Technologies Risk Analysis
Kandi Technologies disclosed 49 risk factors in its most recent earnings report. Kandi Technologies reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kandi Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (57)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $121.89M | 4.15 | 8.04% | ― | 17.08% | -18.03% | |
57 Neutral | HK$25.94B | 4.53 | -4.73% | 5.53% | -0.79% | -51.25% | |
55 Neutral | $69.24M | 1.82 | -27.62% | ― | -27.36% | -218.40% | |
52 Neutral | $122.96M | ― | -13.49% | ― | 3.21% | -6985.88% | |
50 Neutral | $20.32M | ― | -91.21% | ― | 232.13% | 41.77% | |
47 Neutral | $101.62M | ― | -64.97% | ― | -13.37% | -75.09% | |
45 Neutral | $43.53M | ― | -12.94% | ― | -6.71% | 37.34% |
* Consumer Cyclical Sector Average
Performance Comparison
KNDI
Kandi Technologies
1.65
-0.08
-4.62%
CAAS
China Automotive Systems
4.07
0.31
8.24%
CVGI
Commercial Vehicle Group
1.79
-1.90
-51.49%
SYPR
Sypris
1.86
0.21
12.73%
WKSP
Worksport
2.93
-3.69
-55.74%
GGR
Gogoro
0.34
-0.99
-74.44%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.