Kandi Technologies Group, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 08, 2022 at 07:31 am EDT
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Kandi Technologies Group, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 20.84 million compared to USD 29.88 million a year ago. Revenue was USD 20.84 million compared to USD 29.88 million a year ago. Net loss was USD 1.94 million compared to net income of USD 40.93 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to basic earnings per share from continuing operations of USD 0.54 a year ago. Diluted loss per share from continuing operations was USD 0.02 compared to diluted earnings per share from continuing operations of USD 0.54 a year ago.
For the six months, sales was USD 45.73 million compared to USD 45.85 million a year ago. Revenue was USD 45.73 million compared to USD 45.85 million a year ago. Net loss was USD 3.55 million compared to net income of USD 34.53 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to basic earnings per share from continuing operations of USD 0.46 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to diluted earnings per share from continuing operations of USD 0.46 a year ago.
Kandi Technologies Group Inc is a China-based investment holding company mainly engaged in vehicle manufacturing. The Company's main businesses include designing, developing, manufacturing and commercializing electric vehicle (EV) products and EV parts. The Company is also engaged in applying EV technology to off-road vehicle products and launching a variety of pure electric utility vehicles (UTV), Neighborhood EVs (NEVs), Golf carts and off-road crossover vehicles. The Company mainly operates its businesses in the domestic market.