Revenue Update on Kandi Technologies Group Inc(NASDAQ:KNDI)

Kandi Technologies Group Inc(NASDAQ:KNDI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Earnings per share were $0.22.

Kandi Technologies Group Inc (KNDI) shares turned negative on Wednesdays trading session with the shares closing down -0.01 points or -0.15% at a volume of 1,87,304. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.86. The peak price level was also seen at $6.86 while the days lowest was $6.72. Finally the shares closed at $6.76. The 52-week high of the shares is $12 while the 52-week low is $5.05. According to the latest information available, the market cap of the company is $322 M.

Several Insider Transactions has been reported to the SEC. On Mar 11, 2016, Jingsong Qian (director) sold 31,000 shares at $10.00 per share price.

Kandi Technologies Group Inc. (Kandi) is engaged in the design development manufacturing and commercialization of electric vehicles (EVs) and electric vehicle parts which are distributed in China and global markets. The Company conducts its business operations through its wholly owned subsidiary Zhejiang Kandi Vehicles Co. Ltd. (Kandi Vehicles) and the partial and wholly owned subsidiaries of Kandi Vehicles. The Company sold its EV parts to the JV Company for manufacturing of the EV products. Among the total EV parts sales to the JV Company approximately 83% or the sales are related to the sales of battery packs. Approximately 6% of the sales are related to the sales of EV controller; approximately 5% of the sales are related to the sales of air conditioning units and approximately 4% of the sales are related to the sales of EV drive motors and the remaining 2% were related to the sales of body parts and other auto parts.

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