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Thursday, December 04, 2014 4:34:58 PM
Particularly on a month to month basis. As Mr. Hu stated at the Shareholders "Meet & Greet" last month in SF, which was lightly addressed and missed by most, KNDI (I assume through its Yongkang Scou subsidiary) is now also in the Battery Management System (BMS) construction business similar to TSLA. Effectively we get the raw batteries, customize and tweek them for the specific vehicle. (see definition in link above).
Because of this, KNDI (not JV) is now also in in the Battery business and can get a bigger mark-up then what we saw in the first quarter when we sell them to the JV (or others).
Here is where the confusion comes in. The batteries are not sold side-by-side with the SKD's (Semi-Knock Down), which are the "complete sets" of main parts sold to the JV. (below is a description as filed with the SEC a few months ago)
"The Company recognizes revenue from its EV sharing network when it sells the Semi- Knock Down (“SKD”) of an EV, a complete set of the main parts that can be assembled into whole vehicles, to Shanghai Maple Automobile Co., Ltd. (“Maple Auto”). Maple Auto, a 99% owned subsidiary of the Company’s business partner, Geely Automobile Holdings, then assembles the SKD into a complete vehicle and sells it to ZuoZhongYou. Revenue from the subsequent sale of the full vehicle to ZuoZhongYou by Maple Auto is not attributable to the Company".
The batteries are sold independent of the SKD to the JV. It is highly possible, as was the case in Q1, where the batteries that KNDI bought from Wanxiang in Oct. 2013 (before the JV was officially formed) were sold in Q1 to the JV, who in turn sold them to ZZY, but the completed cars (without the batteries installed yet) were not sold by the JV to ZZY until Q2. For that reason, we saw a big jump in revenues with a big drop in Gross Margin and profits in Q1. In Q2 we saw a jump in in JV car sale units but a lower revenue per car since the sales were primarily the car without the battery. In Q3, things started to normalize (at least on a quarter basis) where, while not at the same moment, at least during the quarter, a closer match of Cars to Batteries were delivered and sold. When you try to calculate on a month to month basis, the bifurcation between batteries, SKD and cars becomes even more likely.
Recent KNDI News
- Kandi Technologies Expands Distribution through Academy Sports + Outdoors • GlobeNewswire Inc. • 09/10/2024 12:00:00 PM
- Kandi Technologies Reports Second Quarter 2024 Financial Results • GlobeNewswire Inc. • 08/16/2024 11:00:45 AM
- Kandi Technologies to Report Second Quarter 2024 Financial Results and Hold a Conference Call on August 16, 2024 • GlobeNewswire Inc. • 08/12/2024 03:30:00 PM
- Kandi Technologies and Hartford Industrial Sign Formal Partnership Agreement • GlobeNewswire Inc. • 08/12/2024 12:00:00 PM
- Kandi America Unveils Officially Licensed Limited Edition NFL Golf Carts, Available Exclusively at Lowe’s • Business Wire • 07/29/2024 12:30:00 PM
- Kandi Technologies Announces First Taiwan-Made UTV Shipment to the U.S. • GlobeNewswire Inc. • 07/22/2024 12:00:00 PM
- Kandi's Off-Road Vehicles Will Begin Production in Taiwan • GlobeNewswire Inc. • 07/08/2024 12:05:00 PM
- Kandi Technologies Group Expands UTV Portfolio with Innovator e10K • GlobeNewswire Inc. • 06/27/2024 12:00:00 PM
- Kandi Launches Ultra-High Capacity AA Battery in the U.S. • GlobeNewswire Inc. • 06/20/2024 12:05:00 PM
- Kandi Technologies Group Unveils New Lineup of Electric Go-Karts in the US • GlobeNewswire Inc. • 06/12/2024 12:00:00 PM
- Kandi Debuts Enhanced 10K High-Clearance Electric UTV • GlobeNewswire Inc. • 06/04/2024 12:00:00 PM
- Kandi Shines at Thailand Golf Cart Expo, Expands in Southeast Asia • GlobeNewswire Inc. • 05/28/2024 12:00:00 PM
- Kandi 10K All-Electric UTV Model Achieves EU EEC Certification • GlobeNewswire Inc. • 05/21/2024 12:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/16/2024 11:15:24 AM
- Kandi Technologies Reports First Quarter 2024 Financial Results • GlobeNewswire Inc. • 05/16/2024 11:00:00 AM
- Kandi Technologies to Report First Quarter 2024 Financial Results and Hold a Conference Call on May 16, 2024 • GlobeNewswire Inc. • 05/13/2024 08:05:00 PM
- Kandi Technologies Group, Inc. Completes Redomicile Merger • GlobeNewswire Inc. • 04/16/2024 01:00:00 PM
- Kandi Technologies Reports 2023 Financial Results • GlobeNewswire Inc. • 03/14/2024 08:05:19 PM
- Kandi Technologies to Report FY 2023 Financial Results on March 14, 2024 and Hold a Conference Call on March 15, 2024 • GlobeNewswire Inc. • 03/11/2024 12:00:00 PM
- Kandi to Showcase Innovations and Network at 2024 PGA Show • Business Wire • 01/18/2024 02:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/29/2023 09:05:23 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/27/2023 01:03:11 PM
- Kandi Technologies Announces Share Buyback of Up to $30 Million • GlobeNewswire Inc. • 11/27/2023 01:00:00 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 11/17/2023 09:05:06 PM
- Kandi’s First 500 Fully Electric Mini Golf Carts to Launch in US Market • GlobeNewswire Inc. • 11/15/2023 01:30:00 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM