Kandi Technologies Group Q4 2024 Earnings Call Transcript

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April 28, 2025
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Operator

As a reminder, this conference is being recorded. I will now turn the conference over to your host, Ms. Kiwa Luo, Investor Relations Manager.

Operator

Thank you. You may begin.

Kewa Luo
Kewa Luo
Manager of Investor Relations at Kandi Technologies

Thank you, operator. Hello, everyone. Thank you all for joining us on today's conference call to discuss Kandi's results for the full year 2024. Earlier today, we issued a press release covering the results. You can find the press release on the company's website as well as from Newswire services.

Kewa Luo
Kewa Luo
Manager of Investor Relations at Kandi Technologies

Please note that today's discussion will contain forward looking statements made under the Safe Harbor provisions of The U. S. Private Securities Litigation Reform Act of 1995. Forward looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today.

Kewa Luo
Kewa Luo
Manager of Investor Relations at Kandi Technologies

Further information regarding these and other risks and uncertainties is included in the company's public filings with the SEC. The company does not assume any obligation to update any forward looking statements, except as required under applicable law. Additionally, unless otherwise stated, all figures mentioned during the conference call are in U. S. Dollars.

Kewa Luo
Kewa Luo
Manager of Investor Relations at Kandi Technologies

Before we continue, I would like to introduce the team joining me on today's call. Joining Feng Chen, CEO and Ms. Allen Lin, CFO. Mr.

Kewa Luo
Kewa Luo
Manager of Investor Relations at Kandi Technologies

Chen will deliver his prepared remarks in Chinese, which I will translate afterwards. With that, let me now turn the call over to our CEO, Mr. Feng Chen. Go ahead, Mr.

Moderator

Chen.

Moderator

Good day, and thank you for joining us. Over the past year, we not only strengthened our leadership in the electric off road sector, but also enhanced our manufacturing capabilities and expanded our market reach, laying a solid foundation for the strategic progress we achieved in 2024. I am proud of the resilience and innovation demonstrated across the organization from our Board's strategic guidance to our team's daily execution and I appreciate the continued engagement of our investors. In 2024, we delivered modest yet meaningful revenue growth driven by steady demand for our electric off road vehicles and the ongoing optimization of our geographic footprint. While our revenue grew steadily, we continue to invest in the future, strengthening our overall product portfolio, advancing next generation battery technology and reinforcing our balance sheet.

Moderator

This disciplined approach enabled us to preserve profitability and maintain a robust cash position as we navigated involving market dynamics. Our core electric off road segment remains the engine of Kandi's business. Last year, we introduced several new models tailored to North American's preferences, including the Innovator e 10 k utility vehicle, a new lineup of electric golf carts built for everyone from entry level riders to seasoned off road enthusiasts, as well as our limited edition NFL golf carts. Meanwhile, Kandi made a strong presence at multiple golf cart expos and industry summits, earning widespread praise price from dealers and attendees. Behind the scene, we are enhancing our operational resilience through targeted upgrades to our Taiwan manufacturing footprint.

Moderator

These improvements have increased our flexibility and responsiveness enabling us to better align production with shifting customer demand while maintaining high standards of quality and efficiency. To ensure we deliver on our ambitious plans, we recently implemented a management incentive program that aligns leadership rewards directly with key performance metrics. This initiative is already motivating our senior team to push harder on sales growth, operational excellence and new product development, ultimately driving improved results across the company. Looking ahead, our priorities are clear. We will bring forward innovative battery and vehicle solutions, expand our dealer network, deepen strategic partnerships and execute our U.

Moderator

S. Localization roadmap highlighted by our recent partnership with CBAK Energy to localize lithium cell and pack production in The United States By aligning production closer to end markets and leveraging clean energy incentives, we are positioning Kandi for sustainable long term growth. In closing, I'm confident that the steps we have taken in 2024 have strengthened Kandi's platform and prepared us to seize new opportunities. I want to thank our employees, partners and shareholders for their trust and collaboration.

Operator

Thank you, Mr. Chen, and thank you everyone for joining today's conference call. As noted earlier, there will be no live Q and A session for today's call. If have any questions following today's presentation, please e mail us at ircandygroup dot com or garyblueshirtgroup dot co. We will respond to all inquiries within the next five business days.

Operator

Please note that our responses will be limited to the information that has been publicly disclosed and will comply with the applicable SEC regulations. This concludes our conference call. Thank you, and have a good day.

Operator

Thank you, ladies and gentlemen. This concludes the conference call today. You may disconnect your lines. Thank you for your participation.

Analysts
    • Kewa Luo
      Manager of Investor Relations at Kandi Technologies
    • Moderator
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Key Takeaways

  • The company delivered modest yet meaningful revenue growth in 2024, driven by steady demand for electric off-road vehicles and geographic optimization, while preserving profitability and maintaining a robust cash position through disciplined investments.
  • Kandi launched several new product lines including the Innovator e10k utility vehicle, an expanded electric golf cart lineup from entry-level to off-road models, and limited-edition NFL carts, earning praise at major industry expos.
  • Targeted upgrades to its Taiwan manufacturing footprint enhanced operational flexibility and responsiveness, enabling better alignment of production with shifting customer demand and quality standards.
  • A new management incentive program ties leadership rewards directly to key performance metrics such as sales growth, operational excellence, and new product development to drive improved results.
  • The company’s U.S. localization roadmap advances through a partnership with CBAK Energy to localize lithium cell and pack production in the United States, positioning Kandi for sustainable long-term growth with clean energy incentives.
A.I. generated. May contain errors.
Earnings Conference Call
Kandi Technologies Group Q4 2024
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