Kandi Technologies drops to all-time low on Q3 results, trade war impact

seekingalpha11-18

wundervisuals/E+ via Getty Images Weighed down by an 18% drop in sales due to changes in the sales model for fully electric off-road vehicles, China’s Kandi Technologies (NASDAQ:KNDI) swung to a loss ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2484120966?lang=en_US&edition=fundamental","thumbnail":"https://static.seekingalpha.com/cdn/s3/uploads/getty_images/474377778/image_474377778.jpg","is_english":true,"pubTime":"2024-11-18 23:35","share_image_url":"https://static.laohu8.com/5a36db9d73b4222bc376d24ccc48c8a4","id":"2484120966","market":"fut","top_or_hot":-1,"title":"Kandi Technologies drops to all-time low on Q3 results, trade war impact","media":"seekingalpha","content":"<div>\n<p>wundervisuals/E+ via Getty Images Weighed down by an 18% drop in sales due to changes in the sales model for fully electric off-road vehicles, China’s Kandi Technologies (NASDAQ:KNDI) swung to a loss ...</p>\n\n<a href=\"https://seekingalpha.com/news/4302787-kandi-technologies-drops-all-time-low-results-trade-war-impact\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Kandi Technologies drops to all-time low on Q3 results, trade war impact</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nKandi Technologies drops to all-time low on Q3 results, trade war impact\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-18 23:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4302787-kandi-technologies-drops-all-time-low-results-trade-war-impact><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>wundervisuals/E+ via Getty Images Weighed down by an 18% drop in sales due to changes in the sales model for fully electric off-road vehicles, China’s Kandi Technologies (NASDAQ:KNDI) swung to a loss ...</p>\n\n<a href=\"https://seekingalpha.com/news/4302787-kandi-technologies-drops-all-time-low-results-trade-war-impact\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4124","symbol_name":"机动车零配件与设备","start_time":0,"source_url":"https://seekingalpha.com/news/4302787-kandi-technologies-drops-all-time-low-results-trade-war-impact","article_id":"2484120966","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/474377778/image_474377778.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484120966","pubTimestamp":1731944146,"columns":[],"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"wundervisuals/E+ via Getty Images Weighed down by an 18% drop in sales due to changes in the sales model for fully electric off-road vehicles, China’s Kandi Technologies (NASDAQ:KNDI) swung to a loss ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4124":"机动车零配件与设备","KNDI":"康迪车业","BK4555":"新能源车"},"translate_title":"受贸易战影响，康迪科技第三季度业绩跌至历史低点","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"KNDI":0.9},"content_text":"wundervisuals/E+ via Getty Images Weighed down by an 18% drop in sales due to changes in the sales model for fully electric off-road vehicles, China’s Kandi Technologies (NASDAQ:KNDI) swung to a loss in the third quarter, driving shares to an all-time low at Monday’s open with losses exacerbated by concerns about a trade war between the U.S. and China.  “In today’s complex global economic environment, we are mindful of concerns about trade tensions,” acknowledged Kandi CEO Feng Chen, adding that to address these challenges the company intends to begin production of golf carts, utility vehicles, and lithium batteries in the U.S.  “The local facilities will bring our products closer to key markets, significantly enhancing delivery times and after-sales support,” Feng added.  In 2019, the Trump administration imposed a 25% tariff on auto parts and vehicles imported from China to counter China’s extensive subsidies on its automotive industry and anti-competitive practices. This year, the Biden administration expanded those protections to include a 100% tariff on imported EVs from China, a policy that is expected to be continued when Trump returns to the presidency in January 2025.  Kandi (KNDI), which currently sells recreational vehicles through a partnership with Lowe’s including the recent launch of NFL-branded golf carts, stands to take a significant hit to profits from prohibitive trade policies. In 2023, sales outside of China accounted for three-quarters of Kandi’s total sales, versus a little over half in 2022. Of the $123.6M in total sales, 85% comes from the sales of off-road vehicles and the associated parts.  Therefore, to offset the impact of 100% tariffs in 2025, Kandi (KNDI) plans to invest $100M to establish a lithium battery manufacturing and battery pack facility in the U.S. with an initial annual capacity of 1 GWh. Construction is expected to take 18 months to complete and to generate approximately $230M in annual revenue at full capacity. Shares of Kandi Technologies (KNDI) are down 11%.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2484120966"}