Q4 2019 Earnings Call
Good day, ladies and gentlemen.
Welcome to become two technologies full year, two calls to the 19th financial results Conference call.
For your information today's conference is being the courses I'd now like to turn the call well for to your host this key well no. Please go ahead.
Thank you operator, Hello, everyone welcome to Kandi technologies group.
So yeah 20 lighting earnings conference call accompanied contributed earnings culturally old today, and you can find a copy of candies website at www dot can be very cool dot com.
With us today, Okay, founder Chairman and Chief Executive Officer.
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It was my prepared remark.
By a question answer session.
Before we get started I'm going to reveal the safe Harbor statement regarding today's conference.
Please note that the discussions today will contain forward looking statements made under the safe Harbor provisions.
The U.S. private Securities Litigation Reform Act up 1995 forward looking statements involve inherent risks and uncertainties I saw the company's results may differ materially from the views expressed today.
The information regarding these and other risks and uncertainties are included in the Companys annual report on form 10-K subs basically ended December 31st 20 Nike.
And other documents filed with the Big what Securities and Exchange Commission.
He does not assume any obligation to update any forward looking statements, except I wasn't quite I'll do the applicable law.
Oh My Gosh. This conference call. It recorded in addition, the audio webcast of this conference will be available on candidates Investor Relations website I would now 10, the call over to Kandis founder Chairman and CEO Nick.
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Hello, everyone and thanks for joining us on the call today.
In 2019 due to the restructuring opera joint venture company, which we now call. The Affinia company, we stopped production of our previous easy plot out in order to make adjustments and upgrade the product structure. Despite these challenges can be had a strong year in 2019.
It was solid performance.
Oh, Yeah, 20 lighting revenue was 135.7 million opt, 20.7% and gross margin expanded to 18.7 person. Please refer to the form 10-K, we filed today for more detailed financial information.
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[noise] in 2019, when laying the groundwork for gross with new product is a lot and mark expansion at implementing Gabon, the accretive like sheer vehicles in the third fourth tier cities. However, the Kobe 19 crisis happy laid a progressing 2021 still virus situation is.
No control the foundation, we have built in 2019 will enable us to fix it exceeds this year.
Well, we'll keep the market informed with more information has required now I would answer your question. Please go ahead.
Operator, we're ready to take some question.
Thank you, ladies and gentlemen, if you would like to ask a question that this time.
Please press the star or us tricks, Keith auto parts. It did one on your telephone.
I used to ensure that the mute function on your telephone is switched over to allow your signals to reach our equipment.
If you find that your question how so gradually Financers you made would move yourself from the Q by pressing star too.
Once again, please press star one to ask a question.
The post for just a moment ago every won't be opportunistic to signal.
We will take our first question from Walter who have talked <unk> company. Please go ahead.
Regarding guarantees expected strong balance sheet.
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Not sure until Q1 is reported in few weeks.
Hi, good morning.
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The wall in Q1 2020 based on the 75 million makes it $1.20 and positive working capital and 221 million about $4 in 25 cents.
At the end of Q3, and the sale of the journal wall facilities, which appears to be parks at least in terms of cards and what the gym office. So people don't care. These books.
Pietrzyk Sandy's Broward, she could sort to admit but.
Over 285 million or about $5 is 38 cents your working capital.
37 million about two or $3.85 per share more courses clearly.
It would close these expectations.
We will have one of the strongest balance sheets wrong, what the primary market cap of any employer in Charlotte.
We expect apostrophe Sandy take advantage of the industry stress in China.
Mike you want or more cash acquisition.
And.
After the Q1 quiet period ends.
Numbers, all reported and agree we could we expect to see a resumption of either inside or are cooperating sharp share buybacks.
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Look, but given the highly volatiles nature of the Curly 19 crisis.
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Thank you we take our next question from Terry Mcnemar of Mcnemar I'm Associate. Please go ahead.
Good morning.
For a very nice last 15, much it's pretty tough and challenging times.
First I want to tell you that.
Oklahoma City, Oklahoma from all my life for two years ago I moved to a neighborhood.
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The candy coach.
And then your phone still running today show. So there's a testament to these things will last a long time.
Anyway. My my question is about a sales in the United States.
How's that going what are any cherish or cope with 19 problems that you're seeing and what's your expectations for sales in the U.S. going forward.
Thank you.
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Thank you we move to Steve Miller private Investor. Please go ahead Sir.
[noise] continue I have a transfer questions on totally different subjects first one as well can we get off the public company kind of an oversight boards nine compliant list, it's rather priority pretending.
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Oh wait Oh, we intend to make substantial use for updates to both the general website and they must relation section.
And we are a lot of work to be down, but we expect to finish before the end of that's a quarter.
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Thank you.
We moved out to Arthur <unk> of corporate strategy, you think Gee. It's go ahead.
Good evening, Mister, who hopefully you and your family in good health and also congratulations driven a strong 2019 revenue growth well in business transition.
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You have to subsidy pricing has jandy in the media had recorded the cost of the average 30 X. is around $10000 and some 30000 units are reported expected to be so bus into this year.
As one English media source headlined the 30 X. is less than a quarter of the price of the test with three yeah. Aside from speed range. The 30 X. as many of the same features don't include.
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It's past report it can be had expected to be bidding on providing parts and batteries for finishing.
In the past it has for J.D. cars, but at these low 30, x. prices it would seem impossible for candy to make any profit bidding nonfunctioning parts.
You still expect candy to provide these parts or are we going to pass on that for now.
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Oh, Yeah. That's actually good question as you can't see about Feely has pulled out a lot of efforts in promoting the m-, but for the X. cars. So they do have I'm, sorry, hi requirements for the the price for the.
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Okay last question since Gili wholly seems to have spent over 750 million on both purchasing it stuck in funding the movie for research developed another expenses, if the candy option to potentially by that that's significant portion of the J.D. still alive, if so window.
Expire in any additional thoughts by Mister who on this subject.
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That's the we won't be something I would feel.
Alright, well. Thank you very much and we look forward to hear from you all together in a couple of weeks I guess for the first quarter numbers.
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Thank k., we take our next question from John quota of Candy technologies piece go ahead.
It's good morning.
In question.
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Thank you <unk> 10, you and your family stay well. Thank you once again.
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So first part is.
Since this is applied with.
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Mixture food slaying.
More about Jim paying in Hawaii fee feels they were good partner for candy.
I don't care, what kind of way exactly.
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That's one way to for the <unk>.
I'm thinking I mean, yeah.
Born on that.
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Thank you run for good.
Yeah.
It sounds like humans at all so shape you do now.
No.
Gone through your they found for kids.
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<unk> different countries don't don't see yeah, well my my team on food, Thanks, guys showman.
<unk>.
I really pushing a question and came home is a <unk> because all flat they have very high by your sales and massive social network in the past two years, they happen selling over one young and foolish and 100000.
No see vehicles annually do you have to just building network went with the entire country ways over 10000, alway off which to thousands are colicky level. Most importantly, we both share the enthusiasm for just fly sharing opportunity in a surge.
Fortunate city with the I.P.C. person that work on fish I mean, they chow target customers.
Therefore policing the partnership with me I want one for all involved.
Like instead of a follow up August or you know.
Is it is a drink thing <unk> still in the works.
And if so are we talking about an equity swap at the terror level.
They stop or expensive cigarette level.
And if there was an equity pollution.
Big lesson, 50%.
We could still report consolidated sales.
And then as far as you had thing.
Oh, that's exactly the good thing bring the relationship.
You know cash inequity or both.
<unk> on related heart.
Respect any other partners in this 300000 E.V. program.
And then once you get that I have a quick quick require about if we have <unk>.
Representative of Blue shirt I'll be group.
Oh this call.
Yeah, we do have there on the call, but we are not yep mode.
Yeah when.
Mr who finishes question above it like that <unk>, a little bit information ports Blue shirt group.
Go ahead.
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I don't want sound functions extra Miranda you become yeah sure thing sounds.
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By the clipboard to attend.
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Yeah.
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First of all the <unk>.
<unk>.
That's being discussed if.
So that you will be outweighs the subsidy comfortable Hi Man company.
I don't think it's going to be a significant amount of percentage, but it's going to get enough to be serious about a partnership.
So what falling through the relationships I believe it is a small alliance with our our expertise Sammy Sosa and this cooperation swings manual positive that's not just a cash.
Technology.
Okay, and and there's as far as Blue shirt group.
<unk> expand on there.
So they're on their role with the can do going forward.
Oh.
I had.
I know one time date.
<unk>.
<unk> questions that were said.
By email and those are very helpful.
And I'm, hopefully I'll do that in the future.
And one one.
The blue shirt on each call French orderly puffins call.
It's possible to use something like that Shane video conferencing.
Leading via a little more efficiently on the press relations.
I sound like you shouldn't do I like Blue silk with that what my company that Sam.
<unk> <unk> cause I don't know buying this reality I saw on pets, where you can actually going on <unk>.
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Mm.
Oh, Okay <unk>.
<unk>.
I watch with.
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So one of them or anything for.
Okay, I mean, what's what's is that America.
Right.
<unk>.
<unk> and then go for.
That I saw that from his footwear.
Hmm.
Yeah. That's includes the <unk>, we use them as a woman for your own.
<unk> cause I'm into yours.
Bush I went alive play a very important role in helping out with a communications, especially that you know <unk> concepts off all try needs to we like to have Americans, who are on the stand wall see on the stand the the.
<unk> the operation to represent us in the market to help.
Delivers a message.
<unk> away and in regarding to whether or not having the virtual conference I think depending on.
Unless you taste sweet if it's necessarily I I, if it's plastic balls, we'll we'll always that keeps the options open to explore opportunity.
Thank you and look look forward to successful 20 point.
Oh. Thank you. It has it has to be hunky Bang on on one can book about a triangle.
It's yeah.
Yeah.
[noise] <unk> I'll wait no further questions.
We have no further questions about this time.
Okay. So call.
Oh of course, thank you.
Huh.
I sure that often that one's people, both yet legit, well my logic sure.
The young woman not just.
I.
I mean, when Ah Ah.
Because I know window compared on how women.
<unk> the thing that from lots of call week, we see some feedback telling us that some buses are not able to ask questions. So right now.
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And.
Yeah.
Chase go ahead.
Yeah.
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<unk>.
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Turns off field either.
<unk>.
Five but cannot be.
<unk>.
<unk>.
<unk>.
Yeah.
Yeah.
We're going to me.
So and that.
Over.
Well I see forget it.
Yeah.
I think you're like a sentimental now for a 10 meetings call on behalf over the board of directors sort of management team Kenny Technology School I would like to me out from all commitment will continue to work diligently to maximize shareholder value my focusing on grilling I'll eat business strategically.
<unk> operational results. Thank you very much for your outstanding support will look for what you're talking with you in the next call. If you'll have any additional questions. Please don't hesitate to contact all even less relations department and the outside I come flocking Goodbye.
And K., ladies and gentlemen that will contain stays conference call. Thank you for your participation you may know disconnect.
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And.
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Yeah.
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