Kandi Technologies, Corp. (NASDAQ: KNDI), headquartered in Zhijiang Province, The Peoples Republic of China, has become the number one manufacture and exporter of all terrain vehicles (ATV’s), utility vehicles (UTV’s), and go-carts since their inception in 2003. The company holds a strong position in developing fashionable, energy-saving mini-cars. Kandi produced mini-cars in the past and recently completed the trial stage as the company has begun to prepare for mass production.
The company’s focus has been on improving their specialized utility vehicles, which are best utilized for agricultural purposes, and the launching of their super mini off-highway car for casual, neighborhood driving. The ARTV vehicle line has seen impressive growth, especially in the United States, where Kandi sells approximately 70% of all their ATRV products, with the remainder exported to numerous countries around the world. Kandi believes that their super minis will rapidly become the company’s largest revenue and profit generators.
Kandi has also taken a strong stance on safety issues regarding their products. According to the company, recent demand for energy-saving motorcycles has increased heavily in the U.S., which is reflected in the more than doubling of U.S. imports of small displacement motorcycles, but many consumers still consider motorcycles to be an unsafe mode of transportation. Kandi has addressed this concern by making provisions to their new three-wheeler, as they added advanced metal frame protection around the passenger compartment that has been tested extensively in China and is specifically designed to minimize injury and to save lives in the event of an accident. The company has also emphasized that, with two wheels in front and one in the back, their three-wheeler is much more stable than any two-wheeled motorcycle.
Let us hear your thoughts: Kandi Technologies, Corp Message Board
In their most recent coverage, Dutton Associates rated Kandi Technologies (NASD: KNDI) as a “strong speculative buy” with a price target of $6.72. The twelve-page report by Dutton’s senior analyst, Stanely Ng, can be found on the company’s website at www.jmdutton.com, which includes First Call, Bloomberg Professionals, Zacks, Reuters, Knobias, and other leading financial portals.
This report from Dutton follows Kandi’s announcement of their first quarter financial results ended March 31, 2008. The company’s total revenue came out to be $9.5 million, representing a 76.4% year-over-year from the previous year’s first quarter, and a 9.2% quarter-over-quarter increase from the fourth quarter of last year. The significant increase is attributed to the company’s excellent reception for their exciting line of go-karts, with management focusing on delivering more expensive, max-performance vehicles. This strategy can help improve margin and effectively alleviate the pressure of rising raw material costs on gross margin.
More encouraging news came when Kandi made public the launch of their high-mileage, off-highway, super mini-cars in the month of July. The company anticipates sales volume of 5,000 to 10,000 for these vehicles in 2008. The estimated selling price is around $4,000 per vehicle, which would give the company revenues of $20 million to $40 million from the super mini cars alone.
Let us hear your thoughts below:
The NASDAQ Capital Markets has approved the application of Kandi Technologies, an emerging US traded PRC-based leader in small vehicle production, to list its common shares on the NASDAQ board.
The company currently trades on the OTC Bulletin board and expects that its shares will begin trading on NASDAQ this Tuesday, March 18, 2008, under the new symbol “KNDI.” Until trading takes effect on the NASDAQ, the company will continue to trade on the OTC Bulletin Board with the symbol “KNDI.OB.”
Kandi Technologies management is looking forward to the change. President and CEO Hu Xiaoming stated earlier today, “As the traditional home of young, rapidly growing companies we believe NASDAQ is the appropriate place to list our shares and we are very pleased to have been able to meet their demanding requirements.” He added, “As we continue to demonstrate outstanding growth in revenues and net income, we believe that having our shares trade on NASDAQ will contribute to improved shareholder value by raising our visibility and helping to attract new retail and institutional investors.”
Kandi Technologies is a Chinese based vehicle machinery producer, concentrating on the production of small vehicles, including special purpose vehicles and casual recreational vehicles. Presently, it is among the leading producers of go-karts in the world. Additionally, the company produces a wide, growing range of All Terrain Vehicles (ATVs) which it believes represent the highest quality vehicles of this type in China. The Company is also focused on the development of fashionable, energy-saving mini-cars. It has produced mini-cars that have completed the trial stage and is now preparing to start mass production.
Let us hear your thoughts below: