Kandi Technologies Group, Inc. Q4 FY2024 earnings call

• Strengthened leadership in the electric off-road sector over the past year.
• Achieved modest yet meaningful revenue growth in 2024 driven by steady demand for electric off-road vehicles and optimized geographic footprint.
• Continued to invest in the future, strengthening product portfolio, advancing next-generation battery technology, and reinforcing balance sheet.
• Introduced new electric off-road models tailored to North American preferences, including the innovator e10K utility vehicle, new electric golf carts, and limited-edition NFL golf carts.
• Enhanced operational resilience through targeted upgrades to Taiwan manufacturing footprint, increasing flexibility and responsiveness.
• Implemented a management incentive program aligning leadership rewards with key performance metrics to drive sales growth, operational excellence, and new product development.

The core electric off-road segment remains the engine of Kandi's business. In 2024, revenue growth was driven by steady demand for electric off-road vehicles and optimization of geographic footprint. No specific absolute revenue figures provided, but the electric off-road segment is the key contributor, with revenue growing steadily due to these factors.

• Bring forward innovative battery and vehicle solutions.
• Expand dealer network.
• Deepen strategic partnerships.
• Execute US localization roadmap, highlighted by partnership with CBAK Energy to localize lithium cell and pack production in the United States.

• Forward-looking statements involve inherent risks and uncertainties; actual results may materially differ from expectations.
• Further information regarding risks and uncertainties is included in the company's public filings with the SEC.

Q: Is there a live Q&A session?

A: No live Q&A session. Please email ir@kandigroup.com or gary@blueshirtgroup.co for any questions, and responses will be provided within the next five business days adhering to SEC regulations.