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Kandi Technologies (KNDI)
NASDAQ:KNDI
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Kandi Technologies
(NASDAQ:KNDI)
Rating:51Neutral
Price Target:
$1.00
▼( -10.71% Downside)
Kandi Technologies (KNDI) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$96.30M
Dividend YieldN/A
Average Volume (3M)88.88K
Price to Earnings (P/E)―
Beta (1Y)0.32
Revenue Growth3.21%
EPS Growth-6985.88%
CountryUS
Employees840
SectorConsumer Cyclical
Sector Strength75
IndustryAuto - Parts
Share Statistics
EPS (TTM)-0.07
Shares Outstanding85,985,664
10 Day Avg. Volume114,201
30 Day Avg. Volume88,878
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)0.28
Price to Sales (P/S)0.00
P/FCF Ratio-1.04
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
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 through the sale of its electric vehicles, automotive parts, and off-road vehicles. The company's key revenue streams include direct sales to consumers and commercial clients, as well as partnerships with other automotive manufacturers for supplying parts and collaboration in the EV space. Kandi also benefits from government incentives and subsidies for electric vehicles in China, which support the adoption of EVs and contribute to the company's earnings. Additionally, Kandi has engaged in joint ventures to expand its market reach and enhance its production capabilities, further augmenting its revenue potential.
Kandi Technologies Financial Statement Overview
Summary
Kandi Technologies demonstrates moderate revenue growth and improved gross profit margins, indicating better cost management. However, profitability is a concern with negative EBIT and minimal net profit margin, coupled with significant cash flow challenges.Income Statement
Kandi Technologies shows moderate revenue growth with a positive revenue growth rate of 4.91% in 2023. The gross profit margin improved significantly from previous years to 33.47%, indicating better cost management. However, the company struggles with profitability as reflected by a negative EBIT margin of -10.56% and a minimal net profit margin of 0.01%, showing a challenge in covering operating costs.55
Neutral
Balance Sheet
The debt-to-equity ratio remains low at 0.10, indicating conservative leverage and low financial risk. The equity ratio of 81.56% suggests a stable financial structure with a high proportion of assets financed by equity. However, the return on equity is negligible at 0.002%, pointing to inefficiencies in generating returns from shareholders' investment.62
Positive
Cash Flow
Kandi Technologies faces significant cash flow challenges with a negative free cash flow and an operating cash flow to net income ratio of -14186.08, implying operational inefficiencies. The free cash flow growth rate is negative, indicating worsening cash generation, which could affect liquidity.48
Neutral
| Breakdown | |||||
| TTM | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 118.15M | 123.60M | 117.81M | 91.49M | 76.92M | 135.74M | Gross Profit |
| 37.00M | 41.37M | 19.52M | 16.25M | 13.49M | 25.43M | EBIT |
| -18.10M | -13.05M | -22.70M | -45.83M | -12.29M | 1.70M | EBITDA |
| -2.72M | 16.71M | -379.32K | 41.85M | -5.28M | 909.54K | Net Income Common Stockholders |
| -7.00M | 7.13K | -12.85M | 22.86M | -10.39M | -7.19M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 2.46M | 67.70M | 165.25M | 184.27M | 142.08M | 5.49M | Total Assets |
| 73.01M | 495.46M | 482.98M | 520.16M | 495.25M | 371.22M | Total Debt |
| 34.80M | 41.53M | 24.69M | 11.36M | 92.44K | 64.88M | Net Debt |
| 32.33M | 7.78M | -59.37M | -117.86M | -141.99M | 59.39M | Total Liabilities |
| 49.32M | 88.95M | 85.29M | 76.96M | 91.48M | 153.36M | Stockholders Equity |
| 23.70M | 404.12M | 396.97M | 443.20M | 403.77M | 217.86M |
| Cash Flow | Free Cash Flow | ||||
| -116.04M | -114.41M | 27.66M | -18.90M | -69.07M | -30.48M | Operating Cash Flow |
| -115.85M | -101.16M | 31.48M | 241.69K | -50.88M | -29.89M | Investing Cash Flow |
| 77.56M | 32.28M | -35.03M | 22.21M | 51.15M | 31.25M | Financing Cash Flow |
| -6.26M | 14.83M | -4.33M | 747.93K | 126.45M | -6.98M |
Kandi Technologies Technical Analysis
Negative
1.12
Price Trends
1.26
Negative
1.25
Negative
1.36
Negative
Market Momentum
-0.02
Positive
41.03
Neutral
17.76
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KNDI, the sentiment is Negative. The current price of 1.12 is below the 20-day moving average (MA) of 1.19, below the 50-day MA of 1.26, and below the 200-day MA of 1.36, indicating a bearish trend. The MACD of -0.02 indicates Positive momentum. The RSI at 41.03 is Neutral, neither overbought nor oversold. The STOCH value of 17.76 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 3 New Risks
1.
Your rights as a shareholder of Kandi will change as a result of the Reincorporation and you may not be afforded as many rights as a shareholder of Kandi BVI under applicable laws and the Kandi BVI memorandum and articles of association as you were as a shareholder of Kandi under applicable laws and the Kandi certificate of incorporation and bylaws. Q4, 2023
2.
BVI companies may not be able to initiate shareholder derivative actions, thereby depriving shareholders of the ability to protect their interests. Q4, 2023
3.
Kandi BVI's Amended and Restated Articles of Association provide for the exclusive jurisdiction of the Courts of the British Virgin Islands for substantially all disputes between Kandi BVI and its shareholders, which could limit the shareholders' ability to obtain a favorable judicial forum for disputes with Kandi BVI or its directors, officers, other employees or shareholders. Q4, 2023
Kandi Technologies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $6.84B | 11.23 | 3.09% | 3.95% | 2.66% | -25.23% | |
54 Neutral | $23.69M | ― | 47.49% | ― | 2.68% | 43.98% | |
51 Neutral | $96.30M | ― | -13.49% | ― | 3.21% | -6985.88% | |
50 Neutral | $116.17M | ― | -186.28% | ― | 8.52% | 98.75% | |
48 Neutral | $107.75M | ― | -45.59% | ― | ― | ― | |
46 Neutral | $91.53M | ― | 229.13% | ― | 7.02% | 74.19% | |
45 Neutral | $26.33M | ― | -220.85% | ― | ― | ― |
* Consumer Cyclical Sector Average
Performance Comparison
KNDI
Kandi Technologies
1.12
-0.99
-46.92%
NEGG
Newegg Commerce
5.56
-14.42
-72.17%
GAN
GAN
1.97
0.60
43.80%
FFAI
Faraday Future Intelligent Electric
1.19
-45.61
-97.46%
REE
REE Automotive
0.85
-4.03
-82.58%
RENT
Rent the Runway
5.95
-18.78
-75.94%
Kandi Technologies Earnings Call Summary
Earnings Call Date:Apr 28, 2025
(Q4-2024)
| % Change Since: -5.88%|
Next Earnings Date:May 12, 2025
Earnings Call Sentiment Positive
The earnings call focused on Kandi Technologies' strategic enhancements, product expansions, and partnerships, with no significant challenges highlighted, indicating a strong position for future growth.Q4-2024 Updates
Positive Updates
Modest Revenue Growth
Kandi Technologies delivered modest yet meaningful revenue growth in 2024, driven by steady demand for electric off-road vehicles and optimization of geographic footprint.
Product Portfolio Expansion
The company strengthened its product portfolio by introducing new models such as the innovator e10K utility vehicle and a new lineup of electric golf carts.
Operational Enhancements
Targeted upgrades to the Taiwan manufacturing footprint increased flexibility, responsiveness, and maintained high standards of quality and efficiency.
Management Incentive Program
Implemented a management incentive program aligning leadership rewards with key performance metrics, motivating improved results.
Strategic Partnership with CBAK Energy
A partnership with CBAK Energy was established to localize lithium cell and pack production in the US, positioning Kandi for sustainable long-term growth.
Negative Updates
Revenue Decline
Third quarter revenue was $29.9 million, a decrease from $36.4 million in the same period of 2023. Nine-month revenue totaled $89.8 million, down 5.7% year-over-year.
Challenges with Stock Price and Shareholder Concerns
The stock is trading at a 15-year low, with concerns about stock buyback and insider buying expressed by shareholders.
Concerns Over Electric Vehicle Segment
The electric off-road vehicle revenue in Q3 was $27.5 million, down 9.2% from the prior year quarter, with the first 9-months slipping 1% to $81.5 million.
Uncertainty in Battery Swap Business
Questions about the future of the battery swap business, with no significant alliances reported and concerns over past minimal revenues.
Company Guidance
In the Kandi Technologies Full Year 2024 Financial Results Call, CEO Feng Chen highlighted several key metrics and strategic initiatives that contributed to the company's performance. Kandi achieved modest yet meaningful revenue growth, driven by steady demand for their electric off-road vehicles and optimization of their geographic footprint. The company maintained profitability and a robust cash position, while investing in product portfolio enhancements and next-generation battery technology. The electric off-road segment remained central to their business, with the introduction of new models like the innovator e10K utility vehicle and electric golf carts, including a limited-edition NFL series. Kandi enhanced operational efficiency through upgrades to its Taiwan manufacturing facilities, and implemented a management incentive program aligned with key performance metrics to boost sales growth and new product development. Looking forward, the company aims to expand its dealer network, deepen strategic partnerships, and execute a US localization roadmap, supported by a partnership with CBAK Energy to localize lithium cell and pack production, leveraging clean energy incentives for sustainable growth.Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.