Kandi Technologies Group, Inc. (KNDI) financial statements (2022 and earlier)

Company profile

Business Address JINHUA NEW ENERGY VEHICLE TOWN
JINHUA, 321016
State of Incorp. DE
Fiscal Year End December 31
SIC 3711 - Motor Vehicles and Passenger Car Bodies (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments129,223142,0785,49115,6624,89216,69918,352
Cash and cash equivalents129,223142,0785,49115,6624,89212,23616,739
Short-term investments     4,4631,614
Restricted cash and investments39,45344211,0226,69111,21912,95716,172
Receivables55,19661,17692,513101,959180,820168,93197,342
Inventory, net of allowances, customer advances and progress billings33,17219,69727,73721,99815,98011,91417,774
Inventory33,17219,69727,73721,99815,98011,91417,774
Prepaid expense17,65713,70810,61511,1366,5374,318182
Deferred costs(881)      
Advances on inventory purchases4,11113,108     
Deposits current assets55,042      
Other current assets3422395,708    
Other undisclosed current assets9,29356,66642,4879,90318,86549,20741,045
Total current assets:342,608307,116195,572167,350238,313264,026190,867
Noncurrent Assets
Operating lease, right-of-use asset  11
Property, plant and equipment111,57765,40374,40882,04612,00115,19420,525
Long-term investments and receivables1574647,229128,93086,58877,45390,338
Long-term investments1574647,229128,93070,68177,45390,338
Due from related parties    15,907  
Intangible assets, net (including goodwill)49,27732,94531,92532,880654736818
Goodwill36,02729,71228,27028,552323323323
Intangible assets, net (excluding goodwill)13,2493,2333,6554,328331413495
Deferred income tax assets2,2198,965 
Other noncurrent assets10,99232,30710,8125,8657,59142,091154
Deferred tax assets, net84,383  
Other undisclosed noncurrent assets3,33048,46811,26211,75088,80340,19868,767
Total noncurrent assets:177,552188,134175,646261,479200,020175,672180,602
TOTAL ASSETS:520,160495,250371,218428,829438,333439,698371,469
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:38,29935,5726,0784,2516,5564,8369,545
Accounts payable36,67834,25872,094112,310111,596115,87073,958
Taxes payable1,6211,3141,7973,4712,9031,364624
Other undisclosed accounts payable and accrued liabilities  (67,813)(111,530)(107,942)(112,398)(65,037)
Debt3,200 39,76043,32761,11949,06240,507
Derivative instruments and hedges, liabilities      3,824
Due to related parties 500 2835219
Deferred revenue and credits2,1916,36414
Deferred tax liabilities  1192,375
Customer advances and deposits2064294
Other liabilities7,0392,1861,380    
Other undisclosed current liabilities15,62545,54084,656117,216114,498117,23474,582
Total current liabilities:64,16383,797131,874164,823184,605177,678130,950
Noncurrent Liabilities
Long-term debt and lease obligation2,211 14,92829,41630,73828,794 
Long-term debt, excluding current maturities2,211 14,92829,41630,73828,794 
Liabilities, other than long-term debt2,7753,943 1,711 8791,594
Deferred tax liabilities, net1,711 8791,594
Deferred income tax liabilities2,4603,483 
Other liabilities315460     
Other undisclosed noncurrent liabilities7,8123,7436,5607,256   
Total noncurrent liabilities:12,7977,68621,48838,38430,73829,6731,594
Total liabilities:76,96091,483153,361203,206215,343207,351132,543
Stockholders' equity
Stockholders' equity attributable to parent443,200403,767217,857225,623222,990232,347238,926
Common stock77755351484847
Treasury stock, value(2,392) (2,478)    
Additional paid in capital449,479439,549259,691254,990233,055227,911212,564
Accumulated other comprehensive income (loss)252(8,778)(22,724)(19,921)(6,311)(20,157)(4,742)
Retained earnings (accumulated deficit)(4,216)(27,080)(16,686)(9,497)(3,802)24,54531,056
Total stockholders' equity:443,200403,767217,857225,623222,990232,347238,926
TOTAL LIABILITIES AND EQUITY:520,160495,250371,218428,829438,333439,698371,469

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues91,48676,921135,741112,439102,806129,492201,069
Revenue, net102,806129,492201,069
Revenue from related parties274415,86148,731
Cost of revenue
(Cost of Goods and Services Sold)
(75,239)(63,433)(110,310)(92,191)(88,461)(111,770)(172,650)
Gross profit:16,24813,48825,43120,24714,34417,72228,419
Operating expenses(14,912)(12,734)(24,521)(21,886)(40,426)(48,738)(32,372)
Operating income (loss):1,336754910(1,638)(26,082)(31,016)(3,952)
Nonoperating income (expense)27,874(16,196)(8,791)3,714(5,528)25,18724,745
Investment income, nonoperating17,788    3,8248,519
Other nonoperating income4,8102,0511,5699571241,6281,815
Interest and debt expense(408)(3,750)(4,823)(2,855)(2,280)(1,832)(2,215)
Other undisclosed income from continuing operations before equity method investments, income taxes     1,8322,215
Income (loss) from continuing operations before equity method investments, income taxes:28,803(19,192)(12,704)(779)(33,891)(5,829)20,793
Other undisclosed income from continuing operations before income taxes4083,7504,8232,8552,280  
Income (loss) from continuing operations before income taxes:29,210(15,441)(7,881)2,076(31,611)(5,829)20,793
Income tax expense (benefit)(6,346)5,047692(7,771)3,263(682)(6,127)
Net income (loss) available to common stockholders, diluted:22,864(10,394)(7,189)(5,695)(28,347)(6,511)14,665

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income (loss):22,864(10,394)(7,189)(5,695)(28,347)(6,511)14,665
Comprehensive income (loss):22,864(10,394)(7,189)(5,695)(28,347)(6,511)14,665
Other undisclosed comprehensive income (loss), net of tax, attributable to parent9,03013,945(2,802)(13,610)13,846(15,415)(9,632)
Comprehensive income (loss), net of tax, attributable to parent:31,8943,551(9,991)(19,305)(14,501)(21,926)5,034

Statements sources

The financial statements are based on the company's filings with the 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.

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