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.