KANDI TECHNOLOGIES Reports FY2023 Q2 Earnings Results for Period Ending June 30 2023
August 14, 2023
🌥️Earnings Overview
KANDI TECHNOLOGIES ($NASDAQ:KNDI)’ earnings report for Q2 of fiscal year 2023 (ending June 30, 2023), released on August 8, 2023, showed a 72.5% increase in total revenue to USD 36.0 million compared to the same quarter a year earlier. Net income also improved significantly from -1.9 million in the same quarter of the previous year to USD 3.7 million.
Price History
KANDI TECHNOLOGIES reported its Q2 earnings results for the period ending June 30 2023 on Tuesday. The company opened the day trading at $3.6 per share and closed at $3.7, representing a 1.9% increase from the last closing price of $3.6. Overall, KANDI TECHNOLOGIES’ Q2 earnings results for FY2023 demonstrate the company’s strong financial performance and robust growth strategy. Looking ahead, the company is well-positioned to capitalize on its current momentum and continue to deliver impressive returns for shareholders. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kandi Technologies. More…
| Total Revenues | Net Income | Net Margin |
| 130.9 | -4.87 | -3.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kandi Technologies. More…
| Operations | Investing | Financing |
| 19.64 | -46.26 | -0.51 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kandi Technologies. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 469.51 | 79.84 | 5.17 |
Key Ratios Snapshot
Some of the financial key ratios for Kandi Technologies are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.1% | 22.1% | -2.6% |
| FCF Margin | ROE | ROA |
| 12.4% | -0.5% | -0.5% |
Analysis
At GoodWhale, we have conducted an analysis of KANDI TECHNOLOGIES‘s financials. Our Star Chart indicates that KANDI TECHNOLOGIES has an intermediate health score of 6/10 with regard to its cashflows and debt, indicating that it might be able to pay off debt and fund future operations. In terms of its other financials, KANDI TECHNOLOGIES is strong in asset, medium in growth, profitability and weak in dividend. We have also classified KANDI TECHNOLOGIES as a ‘cheetah’, a type of company we conclude that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Therefore, investors who are seeking high growth but can accept higher levels of risk may be interested in investing in KANDI TECHNOLOGIES. Such investors may include venture capitalists, angel investors, and high net worth individuals. More…
Peers
The company is headquartered in Jinhua, Zhejiang, and has assembly plants in Jiangsu and Zhejiang. Kandi went public on the Nasdaq in 2004. The company’s products include electric cars, scooters, motorcycles, and go-karts. Kandi has a joint venture with Geely Automobile Holdings Ltd, and has partnerships with other companies such as Mercedes-Benz, Honda, and Suzuki. Kandi’s main competitors are Hybrid Kinetic Group Ltd, Vaksons Automobiles Ltd, and Nissan Shatai Co Ltd.
– Hybrid Kinetic Group Ltd ($OTCPK:FESTF)
Hybrid Kinetic Group Ltd is a holding company that operates through its subsidiaries. The company’s businesses include the design, manufacture, and sale of vehicles and vehicle parts; the provision of after-sales services; and the provision of financing services. The company has a market cap of 103.72M as of 2022 and a Return on Equity of -6.75%.
The company’s businesses are focused on the design, manufacture, and sale of vehicles and vehicle parts. The company also provides after-sales services and financing services.
– Vaksons Automobiles Ltd ($BSE:539402)
Vaksons Automobiles Ltd is an automobile company that manufactures and sells cars, trucks, and other vehicles. The company has a market cap of 164.12M as of 2022 and a return on equity of -0.15%. The company’s products are sold in India and other countries.
– Nissan Shatai Co Ltd ($TSE:7222)
Nissan Shatai Co Ltd is a Japanese automaker. The company has a market cap of 114.19B as of 2022 and a Return on Equity of -1.77%. The company manufactures and sells vehicles, engines, and parts. It also provides financing and leasing services.
Summary
KANDI TECHNOLOGIES has reported impressive financial results for FY2023 Q2, with total revenue up 72.5% and net income increasing from -1.9 million to 3.7 million year-on-year. This presents investors with a compelling investment opportunity, given the company’s strong financial performance. KANDI TECHNOLOGIES’ future outlook appears strong, with their focus on sustainable growth and innovations in the electric vehicle and autonomous driving sectors likely to be key drivers of continued success. Investors should consider this stock as a viable option given its strong track record of performance.
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