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Stock impact report

Kandi Technologies Reports Third Quarter 2018 Financial Results

Kandi Technologies Group, Inc. - Ordinary Shares (KNDI) 
Company Research Source: GlobeNewswire
- Q3 revenue increased 34.0% yoy to $38.0 million -- Q3 gross profit increased 29.2% yoy to $6.2 million - JINHUA, China, Nov. 09, 2018 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced its financial results for the third quarter of 2018. Third Quarter Financial Highlights Total revenues were $38.0 million for the third quarter of 2018, an increase of 34.0% from total revenues of $28.4 million for the same period in 2017.              Electric Vehicle (“EV”) parts sales increased by 18.7%, to $32.1 million for the third quarter of 2018, compared with EV parts sales of $27.0 million for the same period in 2017.              Gross profit increased by 29.2% to $6.2 million, compared to $4.8 million for the same period last year. Kandi Electric Vehicles Group Co., Ltd. (the "JV Company") sold 1,502 units of EV products in the third quarter of 2018. GAAP net loss for the third quarter of 2018 was $6.5 million, or Show less Read more
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