Kandi Technologies Group Inc
ir.kandigroup.comWhat Do They Do?
Sells electric off-road vehicles and associated parts to retail stores, dealers and import-export trading companies in China and international markets.
20-F for FY2025, filed Apr 28, 2026Originally, the Company’s primary business operations consist of designing, developing, manufacturing and commercializing electric vehicle…View ↗
For the years ended December 31, 2025, 2024 and 2023, our products primarily consist of EV parts, EV products, and off-road vehicles…View ↗
Because our products are manufactured in China, there are two major sales modes of our products sold to the countries and regions other…View ↗
How Do They Make Money?
Buyers pay for products, including EV parts and off-road vehicles, when delivered; the company also earns commission income when sales transactions are completed.
20-F for FY2025, filed Apr 28, 2026
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20-F for FY2025, filed Apr 28, 2026
FY2025 revenue by product or service ↗
$87.4M
-
20-F for FY2025, filed Apr 28, 2026
$87.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Primary Geographical Markets
|
100%
FY2022: 100%
|
Primary Geographical Markets, FY2025
$87.4M Sources
|
|
|
Ev Parts
Sold outright
|
<0.1%
FY2022: 7.6%
|
Ev Parts, FY2025
$10.5K Sources
|
Sold outright |
|
EV products
Sold outright
|
0.1%
FY2022: 6.7%
|
EV products, FY2025
$51.4K Sources
|
Sold outright |
|
Off-road vehicles and associated parts
Sold outright
20-F for FY2025, filed Apr 28, 2026 |
95%
FY2022: 60%
|
Off-road vehicles and associated parts, FY2025
$82.8M Sources
|
Sold outright |
|
Electric Scooters, Electric Self-Balancing Scooters and associated parts
Sold outright
|
1.6%
FY2022: 3.9%
|
Electric Scooters, Electric Self-Balancing Scooters and associated parts, FY2025
$1.4M Sources
|
Sold outright |
|
Lithium-ion cells
Sold outright
|
3.6%
FY2022: 20%
|
Lithium-ion cells, FY2025
$3.2M Sources
|
Sold outright |
|
other
Sold outright
|
<0.1% |
other, FY2025
$10.6K Sources
|
Sold outright |
|
Major products and Services
Sold outright
20-F for FY2025, filed Apr 28, 2026 |
100%
FY2022: 100%
|
Major products and Services, FY2025
$87.4M Sources
|
Sold outright |
Who Are Their Customers?
Outside China, it sells through Chinese import-export trading companies or directly to retail stores and dealers; in China, its sales department contracts directly with customers. In the United States and Canada, its products also reach buyers through mass retailers, outdoor power-sports dealers and e-commerce platforms.
20-F for FY2025, filed Apr 28, 2026
20-F for FY2025, filed Apr 28, 2026
Sales Trade Receivable Year Ended ‘December 31， December 31， December 31， Major Customers 2025 2024 2023 2025 2024 Customer A 32 % 31 % 19…View ↗
Do Revenues Turn Into Profits?
No. It lost $93.9M in FY2025.
20-F for FY2025, filed Apr 28, 2026
How Are They Changing?
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