PART I — FINANCIAL INFORMATION [Item 1. Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) Unaudited Q1 2021 financial statements show revenue growth to **$16.0 million** but a net loss of **$6.4 million** due to increased R&D, partially offset by a **$17.7 million** gain from an equity sale [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2021, total assets slightly decreased to **$484.6 million**, while cash and equivalents increased to **$146.7 million**, and stockholders' equity declined to **$399.0 million** Condensed Consolidated Balance Sheet Highlights (in USD) | Financial Metric | March 31, 2021 (Unaudited) | December 31, 2020 | | :--- | :--- | :--- | | **Assets** | | | | Cash and cash equivalents | $146,714,469 | $142,078,190 | | Total Current Assets | $322,355,382 | $307,115,576 | | Total Assets | $484,571,960 | $495,249,840 | | **Liabilities & Equity** | | | | Total Current Liabilities | $78,263,142 | $83,797,425 | | Total Liabilities | $85,590,077 | $91,483,176 | | Total Stockholders' Equity | $398,981,883 | $403,766,664 | [Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29) Q1 2021 revenues increased **150.7%** to **$16.0 million**, but a **$22.8 million** operating loss, driven by surging R&D, resulted in a **$6.4 million** net loss despite a **$17.7 million** equity sale gain Q1 2021 vs Q1 2020 Statement of Operations (in USD) | Metric | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Revenues, Net | $15,977,754 | $6,372,424 | | Gross Profit | $4,354,351 | $1,167,259 | | Research and development | ($21,624,597) | ($640,240) | | Loss from Operations | ($22,847,235) | ($3,418,022) | | Gain from sale of equity in the Affiliate Company | $17,700,260 | - | | Net Loss | ($6,402,720) | ($1,574,646) | | Net Loss Per Share | ($0.08) | ($0.03) | [Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash used in operating activities significantly improved to **$6.0 million** in Q1 2021, while investing activities provided **$11.1 million**, leading to a period-end cash balance of **$147.2 million** Cash Flow Summary (in USD) | Cash Flow Activity | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :--- | :--- | :--- | | Net cash used in operating activities | ($6,017,280) | ($26,526,069) | | Net cash provided by investing activities | $11,130,031 | $11,460,291 | | Net cash provided by financing activities | $0 | $8,452,964 | | Net increase (decrease) in cash | $5,112,751 | ($6,612,814) | | Cash at end of period | $147,195,073 | $9,753,893 | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) Notes detail significant accounting policies, the **$47.0 million** sale of Affiliate Company equity yielding a **$17.7 million** gain, expected **$25 million** real estate payment, and ongoing legal proceedings - The company's working capital increased to **$244.1 million** as of March 31, 2021, from **$223.3 million** at year-end 2020[19](index=19&type=chunk) - On February 18, 2021, the company agreed to sell its remaining **22%** equity in the Affiliate Company to Geely for approximately **$47.0 million** The transaction was completed on March 9, 2021, and resulted in a recognized gain of **$17.7 million** in Q1 2021[21](index=21&type=chunk)[27](index=27&type=chunk)[84](index=84&type=chunk) - The company is involved in several ongoing legal proceedings, including putative shareholder class actions and a derivative action, but believes the claims are without merit and is unable to estimate any potential loss[90](index=90&type=chunk)[92](index=92&type=chunk)[94](index=94&type=chunk) Revenue by Product and Geography (Q1 2021 vs Q1 2020, in USD) | Category | Q1 2021 | Q1 2020 | | :--- | :--- | :--- | | **By Geography** | | | | Overseas | $7,867,426 | $2,130,824 | | China | $8,110,328 | $4,241,600 | | **By Product** | | | | EV parts | $6,368,331 | $2,081,335 | | Off-road vehicles | $5,619,004 | $4,035,270 | | Electric Scooters & parts | $3,868,925 | - | | EV products | $121,494 | $255,819 | | **Total Revenue** | **$15,977,754** | **$6,372,424** | [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=25&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes Q1 2021 revenue growth to EV parts and scooters, with the net loss driven by surging R&D expenses, while liquidity improved from asset sales and new EV products are under development - Total revenue for Q1 2021 was **$16.0 million**, a **150.7%** increase from Q1 2020, while net loss increased to **$6.4 million** from **$1.6 million**, mainly due to higher R&D investment[105](index=105&type=chunk) - The company is developing a short-distance small-scale pure EV with a target cost under **RMB 30,000** and a high-end pure electric four-wheel drive UTV, both planned for launch within the year[146](index=146&type=chunk) - After selling its stake in the Affiliate Company, Kandi is no longer bound by non-compete provisions and is actively seeking to acquire a company to continue its growth in the electric vehicle field[146](index=146&type=chunk) [Results of Operations](index=27&type=section&id=Results%20of%20Operations) Q1 2021 revenue grew **150.7%** to **$16.0 million** driven by EV parts and new electric scooters, with gross margin improving to **27.3%**, despite operating expenses surging due to a **3,277.6%** increase in R&D Revenue by Product Type (in USD) | Product Type | Q1 2021 | Q1 2020 | % Change | | :--- | :--- | :--- | :--- | | EV parts | $6,368,331 | $2,081,335 | 206.0% | | Off-road vehicles | $5,619,004 | $4,035,270 | 39.2% | | Electric Scooters & parts | $3,868,925 | - | N/A | | EV products | $121,494 | $255,819 | (52.5%) | | **Total** | **$15,977,754** | **$6,372,424** | **150.7%** | - Gross margin increased to **27.3%** in Q1 2021 from **18.3%** in Q1 2020, mainly due to an increased sales proportion of higher-margin battery processing business and contributions from new intelligent transportation products[124](index=124&type=chunk) - Research and development expenses surged by **3,277.6%** to **$21.6 million** in Q1 2021, compared to **$0.64 million** in Q1 2020, due to investment in a new product[125](index=125&type=chunk) - The company recognized a gain of **$17.7 million** from the sale of its **22%** equity interest in the Affiliate Company to Geely, which was completed on March 9, 2021[133](index=133&type=chunk) [LIQUIDITY AND CAPITAL RESOURCES](index=33&type=section&id=LIQUIDITY%20AND%20CAPITAL%20RESOURCES) Liquidity improved with working capital increasing by **$20.8 million** to **$244.1 million**, and cash used in operations significantly decreased to **$6.0 million**, bolstered by **$23.5 million** from an equity sale and an expected **$25 million** real estate payment - Working capital was **$244.1 million** at March 31, 2021, an increase of **$20.8 million** from December 31, 2020[142](index=142&type=chunk) - The company received the first payment of **RMB 154 million** (approx. **$23.5 million**) in March 2021 for the sale of its Affiliate Company equity, with the remainder expected within six months[144](index=144&type=chunk) - The company anticipates receiving a final installment payment of **RMB 162 million** (approx. **$25 million**) from a real estate repurchase agreement with the Jinhua government after vacating its old factory property[143](index=143&type=chunk)[99](index=99&type=chunk) [Item 3. Quantitative and Qualitative Disclosures about Market Risk](index=35&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) This item is not applicable to the company as a smaller reporting company - The company states that this item is not applicable[149](index=149&type=chunk) [Item 4. Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2021, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period covered by the report[150](index=150&type=chunk) - No changes occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[152](index=152&type=chunk) PART II — OTHER INFORMATION [Item 1. Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in ongoing legal proceedings, including shareholder class actions, which management believes are without merit, though the ultimate financial impact remains uncertain - The company is subject to ongoing legal proceedings, including a putative securities class action filed in December 2020 based on claims made in a Hindenburg Research report[94](index=94&type=chunk)[154](index=154&type=chunk) - Management believes the claims in these litigations are without merit but is unable to estimate the possible loss, if any, associated with them[96](index=96&type=chunk) [Item 6. Exhibits](index=36&type=section&id=Item%206.%20Exhibits) This section lists exhibits filed with the Form 10-Q, including the Equity Transfer Agreement with Geely, officer certifications, and XBRL data files - The exhibits include the Equity Transfer Agreement with Geely, CEO/CFO certifications (Rule 13a-14(a)/15d-14(a) and Section 906), and XBRL data files[155](index=155&type=chunk)

Kandi Technologies Group, Inc. (NASDAQ:KNDI) Q3 2020 Earnings Conference Call November 9, 2020 8:00 AM ET Company Participants Kewa Luo – Investor Relations Manager Xiaoming Hu – Founder, Chairman and Chief Executive Officer Alan Lim – Chief Financial Officer Conference Call Participants Marla Marin – Zacks Arthur Porcari – Corporate Strategies Joel Cramer – Private Investor Walter Hill – Carty & Company Michael Fearnow – Focus Tech Mark Miller – Private Investor Richard Goldstein – National Securities Mike ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended September 30, 2020 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______to______ Commission file number 001-33997 KANDI TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in charter) | --- | --- | |-------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2020 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______to______ Commission file number 001-33997 KANDI TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in charter) | --- | |------------------------------- ...

Financial Data and Key Metrics Changes - The company experienced a decline in revenue due to the COVID-19 crisis, which reduced production and consumer demand [6][8] - Management expressed optimism about recovery as demand is slowly improving and production is ramping back up [6][8] Business Line Data and Key Metrics Changes - The company is focusing on new market opportunities, particularly in the powertrain for electric scooters and self-balancing hoverboards, which is a growing market of 10 million units annually [9] - The company plans to potentially merge its motor and battery subsidiaries to create a specialized powertrain technology company [9][34] Market Data and Key Metrics Changes - The company is entering the U.S. market with consumer-friendly electric vehicles at competitive prices, which is expected to enhance its market presence [10] - The affiliate company Fengsheng is ramping up its new Maple model, targeting the rideshare market with a focus on high-performance electric vehicles [10][17] Company Strategy and Development Direction - The company is optimistic about government support for battery swapping technology, which it has pioneered [8] - The strategic focus includes leveraging technology expertise to explore new markets and enhance product offerings [9][10] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of COVID-19 but remains optimistic about the long-term outlook for electric vehicles [6][10] - The company is confident in its ability to adapt and grow in the evolving market landscape, particularly with the support of government policies [8][10] Other Important Information - The company received a $34 million down payment related to a $76 million payment for Jinhua, which will be reflected in future financial statements [27][30] - The new facility is expected to be completed by July 2020, with a construction area equivalent to the old factory but with a more efficient multi-story design [54] Q&A Session Summary Question: Concerns about U.S. listing and PCAOB compliance - Management reassured shareholders that Kandi is a U.S. company and has changed auditors to one that is PCAOB compliant, reducing delisting concerns [12] Question: Updates on Fengsheng and EV sales - Management confirmed that Fengsheng is expected to sell 30,000 units this year, despite COVID-19 challenges, and the new Maple 60V model is anticipated to be deployed in the rideshare market [21][26] Question: Battery exchange technology and consolidation plans - The quick battery exchange technology will be manufactured in-house, and the consolidation of subsidiaries is still under evaluation [32][34] Question: Off-road vehicle sales and expectations - Off-road vehicle sales are performing exceptionally well, with expectations to double last year's sales [43] Question: EV sales estimates for 2020 - A conservative estimate for Kandi's EV sales in 2020 is around 2,000 units for the K23 model [58]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 90-0363723 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Jinhua City Industrial Zone Jinhua, Zhejiang Province People's Republic of China 321016 (Address of principal executive offices) (Zip Code) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock KNDI NASDAQ Global Select Market FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________to ___________ Commission file number 001-33997 KANDI TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in its charter) Delaware 90-0363723 | -- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Delaware 90-0363723 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) Jinhua City Industrial Zone Jinhua, Zhejiang Province People's Republic of China 321016 (Address of principal executive offices) (Zip Code) Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock KNDI NASDAQ FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securit ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2019 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______to______ Commission file number 001-33997 KANDI TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in charter) 90-0363723 (I.R.S.Employer Identificatio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2019 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from ______to______ Commission file number 001-33997 KANDI TECHNOLOGIES GROUP, INC. (Exact name of registrant as specified in charter) | --- | --- | |------------------------ ...