Recent Updates — KNDI
Kandi Technologies Group announced that its board of directors approved a 1-for-10 reverse stock split of its ordinary shares. The consolidation is expected to become effective at the opening of market on Friday, October 16, 2026. Prior to the split, there are approximately 103 million ordinary shares issued and outstanding. Trading will resume on a split-adjusted basis under the symbol KNDI with a new CUSIP number. Fractional shares resulting from the consolidation will be rounded up to the nearest whole share. The company operates as a global innovator in intelligent equipment, focusing on all-domain intelligent vehicles, battery swapping equipment, and intelligent robotics.
Kandi Technologies Group reported first-half 2026 net revenues of $57.1 million, a 57.4% increase from the prior year period, driven by higher off-road vehicle sales and contributions from Rawrr Inc., acquired in February 2026. Net income rose to $9.4 million, or $0.10 per diluted share, compared to $1.7 million previously. The company held $285.7 million in cash equivalents and restricted assets as of June 30, 2026. Kandi Technologies Group manufactures electric vehicles and off-road utility vehicles.
Kandi Technologies Group, Inc. filed audited financial statements for Rawrr Inc., the electric off-road motorcycle manufacturer it acquired in February 2026. For the year ended December 31, 2025, Rawrr reported $15.7 million in net revenue and a net income of $366,460, resulting in $0.04 earnings per share on 10 million shares outstanding. The company held $677,435 in cash and carried $915,101 in stockholders' deficit against total assets of $5.4 million. Rawrr operates as a specialized new energy technology enterprise focused on the research, development, design, and global distribution of high-performance electric off-road motorcycles.
Kandi Technologies Group, Inc. entered into a capital contribution agreement on June 29, 2026, to acquire a 51% controlling stake in Hangzhou Xinchu New Energy Technology Co., Ltd. for approximately RMB 20 million (US$2.9 million). The investment includes performance commitments for the Target Company to reach annual revenue targets of RMB 150 million, RMB 300 million, and RMB 500 million for fiscal years 2027, 2028, and 2029. The agreement includes anti-dilution protections and buyback provisions if revenue targets are not met or material breaches occur. Kandi Technologies Group, Inc. operates in the new energy vehicle industry and provides electric vehicle solutions.