Kandi Technologies Group, Inc. Q1 FY2024 earnings call

• Total revenue for Q1 2024 was ~$20.7M and net income ~$0.8M. - Expansion in North American market through collaboration with large nationwide chains, progress in Southeast Asian and European markets. - Repurchased 564,302 shares this quarter. - Refining product portfolio: rechargeable AA batteries launched, upcoming starter batteries, all-electric off-road vehicles, electric water sports products. - Limited edition golf cart collection in partnership with NFL and Lowe's, featuring 32 NFL teams' branding.

Total revenue for the first quarter was approximately $20.7 million and net income around $0.8 million. No detailed breakdown of product segment revenue contribution percentages provided in the transcript.

• Believes total sales in 2024 will be better than last year. - Target for 2025 is $500 million in sales. - Will continue to repurchase Kandi shares.

• Potential tariff impacts on EVs and lithium batteries; golf carts not under EV scope, lithium battery tariff increased, UTVs may use CKD approach. - Risk of a buyout tender offer. - Need for strategic adjustments and more proactive IR approach.

Q: On the year-end 10-K press release, concerns about Lowe's partnership translation error and clarification on Lowe's store access.

A: Xueqin Dong and Xiaoming Hu clarified that Lowe's access is still expanding, currently ~500 stores with plans to expand to over 1,000 by year-end.

Q: Status of Lowe's NFL golf cart offering and other products sold through Lowe's.

A: Adjustments being made to website, expected to show information by next week; currently selling golf carts with potential for future product expansion.

Q: Value of $1 million consultant contract and spin-off status.

A: Contract process ongoing, spin-off plan to be completed by end of 2024 if smooth.

Q: Impact of tariffs on EVs and lithium batteries.

A: Golf carts not affected by EV tariffs, lithium battery tariff increased with cost reduction plans, UTVs may use CKD.

Q: International sales retailers and 2024/2025 guidance.

A: Expanding in Southeast Asia and Europe through trading companies, 2024 sales better than last year, target $500M in 2025.

Q: New products and IR concerns.

A: New products like convertible golf cart, ongoing focus on new EVs; IR to be more proactive in future.