Kandi Technologies Group, Inc. (KNDI) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
JINHUA NEW ENERGY VEHICLE TOWN JINHUA, 321016 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 3711 - Motor Vehicles and Passenger Car Bodies (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 84,064 | 129,223 | 142,078 | 5,491 | 15,662 | 4,892 | |||
| Cash and cash equivalent | 84,064 | 129,223 | 142,078 | 5,491 | 15,662 | 4,892 | |||
| Restricted cash and investments | 66,977 | 39,453 | 442 | 11,022 | 6,691 | 11,219 | |||
| Receivables | 35,865 | 55,196 | 61,176 | 92,513 | 101,959 | 180,820 | |||
| Inventory, net of allowances, customer advances and progress billings | 40,475 | 33,172 | 19,697 | 27,737 | 21,998 | 15,980 | |||
| Inventory | 40,475 | 33,172 | 19,697 | 27,737 | 21,998 | 15,980 | |||
| Prepaid expense | 2,970 | 17,657 | 13,708 | 10,615 | 11,136 | 6,537 | |||
| Deferred costs | (899) | (881) | |||||||
| Advances on inventory purchases | 4,111 | 13,108 | |||||||
| Deposits current assets | 81,191 | 55,042 | |||||||
| Other current assets | 330 | 342 | 239 | 5,708 | |||||
| Other undisclosed current assets | 18,350 | 9,293 | 56,666 | 42,487 | 9,903 | 18,865 | |||
| Total current assets: | 329,323 | 342,608 | 307,116 | 195,572 | 167,350 | 238,313 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 11 | ✕ | ✕ | ||||||
| Property, plant and equipment | 97,169 | 111,577 | 65,403 | 74,408 | 82,046 | 12,001 | |||
| Long-term investments and receivables | 145 | 157 | 46 | 47,229 | 128,930 | 86,588 | |||
| Due from related parties | ✕ | 15,907 | |||||||
| Long-term investments | 145 | 157 | 46 | 47,229 | 128,930 | 70,681 | |||
| Intangible assets, net (including goodwill) | 41,172 | 49,277 | 32,945 | 31,925 | 32,880 | 654 | |||
| Goodwill | 33,178 | 36,027 | 29,712 | 28,270 | 28,552 | 323 | |||
| Intangible assets, net (excluding goodwill) | 7,994 | 13,249 | 3,233 | 3,655 | 4,328 | 331 | |||
| Deferred income tax assets | 1,433 | 2,219 | 8,965 | ✕ | ✕ | ||||
| Other noncurrent assets | 10,631 | 10,992 | 32,307 | 10,812 | 5,865 | 7,591 | |||
| Deferred tax assets, net | ✕ | ✕ | ✕ | ✕ | ✕ | 8 | 4,383 | ||
| Other undisclosed noncurrent assets | 3,110 | 3,330 | 48,468 | 11,262 | 11,750 | 88,803 | |||
| Total noncurrent assets: | 153,659 | 177,552 | 188,134 | 175,646 | 261,479 | 200,020 | |||
| TOTAL ASSETS: | 482,982 | 520,160 | 495,250 | 371,218 | 428,829 | 438,333 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 36,592 | 39,919 | 35,572 | 6,078 | 4,251 | 6,556 | |||
| Taxes payable | ✕ | ✕ | 1,621 | 1,314 | 1,797 | 3,471 | 2,903 | ||
| Accounts payable | 35,321 | 36,678 | 34,258 | 72,094 | 112,310 | 111,596 | |||
| Accrued liabilities | 1,271 | 1,621 | |||||||
| Other undisclosed accounts payable and accrued liabilities | (67,813) | (111,530) | (107,942) | ||||||
| Debt | 5,600 | 3,200 | 39,760 | 43,327 | 61,119 | ||||
| Other liabilities | 6,090 | 7,039 | 2,186 | 1,380 | |||||
| Deferred revenue and credits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 2,191 | ||
| Due to related parties | ✕ | 500 | 28 | 35 | |||||
| Customer advances and deposits | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 206 | ||
| Other undisclosed current liabilities | 33,224 | 14,004 | 45,540 | 84,656 | 117,216 | 114,498 | |||
| Total current liabilities: | 81,506 | 64,163 | 83,797 | 131,874 | 164,823 | 184,605 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 2,211 | 14,928 | 29,416 | 30,738 | |||||
| Long-term debt, excluding current maturities | 2,211 | 14,928 | 29,416 | 30,738 | |||||
| Liabilities, other than long-term debt | 2,654 | 2,775 | 3,943 | 1,711 | |||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | ✕ | ✕ | 1,711 | |||
| Deferred income tax liabilities | 1,378 | 2,460 | 3,483 | ✕ | ✕ | ||||
| Lease deposit liability | 673 | ✕ | ✕ | ||||||
| Other liabilities | 602 | 315 | 460 | ||||||
| Business combination, contingent consideration, liability | |||||||||
| Other undisclosed noncurrent liabilities | 1,130 | 7,812 | 3,743 | 6,560 | 7,256 | ||||
| Total noncurrent liabilities: | 3,783 | 12,797 | 7,686 | 21,488 | 38,384 | 30,738 | |||
| Total liabilities: | 85,289 | 76,960 | 91,483 | 153,361 | 203,206 | 215,343 | |||
| Equity | |||||||||
| Equity, attributable to parent | 396,970 | 443,200 | 403,767 | 217,857 | 225,623 | 222,990 | |||
| Common stock | 78 | 77 | 75 | 53 | 51 | 48 | |||
| Treasury stock, value | (9,808) | (2,392) | (2,478) | ||||||
| Additional paid in capital | 451,374 | 449,479 | 439,549 | 259,691 | 254,990 | 233,055 | |||
| Accumulated other comprehensive income (loss) | (28,333) | 252 | (8,778) | (22,724) | (19,921) | (6,311) | |||
| Accumulated deficit | (16,340) | (4,216) | (27,080) | (16,686) | (9,497) | (3,802) | |||
| Equity, attributable to noncontrolling interest | 722 | ||||||||
| Total equity: | 397,693 | 443,200 | 403,767 | 217,857 | 225,623 | 222,990 | |||
| TOTAL LIABILITIES AND EQUITY: | 482,982 | 520,160 | 495,250 | 371,218 | 428,829 | 438,333 | |||
Income Statement (P&L) ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 117,813 | 91,486 | 76,921 | 135,741 | 112,439 | 102,806 | ||
| Revenue, net | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | 102,806 | |
| Revenue from related parties | ✕ | 2 | 744 | 15,861 | 48,731 | ✕ | ||
| Net investment income | 6,428 | |||||||
| Cost of revenue (Cost of Product and Service Sold) | (98,295) | (75,239) | (63,433) | (110,310) | (92,191) | (88,461) | ||
| Gross profit: | 19,518 | 16,248 | 13,488 | 25,431 | 20,247 | 14,344 | ||
| Operating expenses | (14,912) | (12,734) | (24,521) | (21,886) | (40,426) | |||
| Other operating expense, net | (47,197) | |||||||
| Operating income (loss): | (27,679) | 1,336 | 754 | 910 | (1,638) | (26,082) | ||
| Nonoperating income (expense) | 14,341 | 27,874 | (16,196) | (8,791) | 3,714 | (5,528) | ||
| Investment income, nonoperating | 17,788 | |||||||
| Other nonoperating income | 2,785 | 4,810 | 2,051 | 1,569 | 957 | 124 | ||
| Interest and debt expense | (707) | (408) | (3,750) | (4,823) | (2,855) | (2,280) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | (14,046) | 28,803 | (19,192) | (12,704) | (779) | (33,891) | ||
| Other undisclosed income from continuing operations before income taxes | 707 | 408 | 3,750 | 4,823 | 2,855 | 2,280 | ||
| Income (loss) from continuing operations before income taxes: | (13,339) | 29,210 | (15,441) | (7,881) | 2,076 | (31,611) | ||
| Income tax expense (benefit) | 488 | (6,346) | 5,047 | 692 | (7,771) | 3,263 | ||
| Income (loss) from continuing operations: | (12,851) | 22,864 | (10,394) | (7,189) | (5,695) | (28,347) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | 22,864 | (10,394) | (7,189) | (5,695) | (28,347) | |
| Net income (loss): | (12,851) | 22,864 | (10,394) | (7,189) | (5,695) | (28,347) | ||
| Net income (loss) attributable to noncontrolling interest | 727 | |||||||
| Net income (loss) available to common stockholders, diluted: | (12,124) | 22,864 | (10,394) | (7,189) | (5,695) | (28,347) | ||
Comprehensive Income ($ in thousands)
| 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | (12,851) | 22,864 | (10,394) | (7,189) | (5,695) | (28,347) | ||
| Other comprehensive loss | ||||||||
| Comprehensive income (loss): | (12,851) | 22,864 | (10,394) | (7,189) | (5,695) | (28,347) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 727 | |||||||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | (29,312) | 9,030 | 13,945 | (2,802) | (13,610) | 13,846 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | (41,436) | 31,894 | 3,551 | (9,991) | (19,305) | (14,501) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.