Kandi Technologies Reports Full Year 2019 Financial Results
Kandi Technologies Group, Inc. (KNDI)
US:NASDAQ Investor Relations:
en.kandivehicle.com/investornews.aspx?classid=3
Company Research
Source: GlobeNewswire
- Full Year Revenues of $135.7 m, up 20.7% yoy- Full Year Off-road Vehicles Sales of $22.7 m, up 70.5% yoy- Full Year Operating Income of $0.9 m, compared with operating loss of $1.6m in 2018 JINHUA, CHINA, April 28, 2020 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company,” “we” or “Kandi”) (NASDAQ GS: KNDI), today announced its financial results for the full year ended December 31, 2019. Full Year 2019 Highlights Total revenues were $135.7 million in 2019, an increase of 20.7% from total revenues of $112.4 million in 2018. EV parts sales increased by 11.7% to $110.7 million in 2019, compared with EV parts sales of $99.1 million in 2018. Off-road vehicles sales increased by 70.5% to $22.7 million in 2019, compared with off-road vehicles sales of $13.3 million in 2018. Gross margin for the year ended December 31, 2019 was 18.7%, compared to 18.0% for the year ended December 31, 2018. Operating income in 2019 was $0.9 million, compared with an operatin
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