Q1 2024 Kandi Technologies Group Inc Earnings Call

Greetings and welcome to Kandi technologies first quarter 'twenty 'twenty four financial results call. At this time all participants are in a listen only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance. During the conference. Please press star zero on your tough some keypad. Please.

Operator: Greetings. Welcome to Kandi Technologies' first quarter 2024 financial results call. At this time, all participants are in a listen only mode.

Operator: A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Kewa Luo, Investor Relations Manager. Thank you. You may Thank you, Operator. Hello, everyone.

Speaker Change: Note. This conference is being recorded I will now turn the conference over she blah blah blah.

Speaker Change: Investor Relations manager. Thank you you may begin.

Speaker Change: Thank you operator.

Speaker Change: Hello, everyone.

Thank you for joining us on today's conference call to discuss <unk> results for the first quarter 'twenty 'twenty four.

Kewa Luo: Thank you for joining us on today's conference call to discuss Kandi's results for the first quarter of 2024. Earlier today, we issued a press release covering the results. You can find the press release on the conference website, as well as from the newswire services.

Speaker Change: Earlier today, we issued a press release covering the results you can find our press release on the company's website as well as from the Newswire services.

Kewa Luo: On the call with me today is Mr. Xiaoming Hu, Chairman of the Board. Dr. Xueqin Dong, Chief Executive Officer, and Mr. Alan Ling, Chief Financial Officer. Dr. Dong will deliver prepared remarks in Chinese, which I will then translate. After that, we will have a Q&A session. Before we continue, please note that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the U.S. The Private Securities Litigation Reform Act of 1995.

Speaker Change: On the call with me today are Mr Xiaomi and cool.

Speaker Change: Turning off the Boyd doctors shaking Dong, Chief Executive Officer, and Mr. Alan Leong, Chief Financial Officer Dr.

Speaker Change: Dr Gong will deliver prepared remarks in Chinese.

Speaker Change: Which I will then translate.

Speaker Change: After that we will have a Q&A session.

Kewa Luo: Forward-looking statements involve inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. Information regarding these and other risks and uncertainties is included in the company's public filings with the SEC.

Speaker Change: Before we continue please note that today's discussion will contain forward looking statements made under the safe Harbor provisions of the U S. Private Securities Litigation Reform Act of 1995.

Speaker Change: Forward looking statements involve inherent risks and uncertainties as such the company's actual results may be materially different from the expectations expressed today.

Speaker Change: Further information regarding these and other risks and uncertainties is included in the company's public filings with the S. E C.

Speaker Change: The company does not assume any obligation.

Speaker Change: To update any forward looking statement, except as required under applicable law.

Kewa Luo: The company does not assume any obligation to update any forward-looking statements except as required under applicable law. Please note that, unless otherwise stated, all figures mentioned during the conference call are in U.S. dollars. With that, let me now turn the call over to our CEO, Xueqin Dong. Go ahead, Dr. Dong.

Speaker Change: Please note that unless otherwise stated all figures mentioned during the conference call are in U S dollars.

Speaker Change: What's that.

Speaker Change: Let me now turn the call over to our fee I'll kick things off.

Speaker Change: Go ahead and stop the dog.

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Xueqin Dong: Hello, everyone. I am Xueqin Dong, CEO of Kandi Tech Group. Welcome to today's meeting. We are very happy to announce that the total revenue for the first quarter is about $2070,000, and the net revenue is about $800,000.

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Don: Hello, everyone I'm mistaking Don let's see of Kandi Technologies group welcome to today's conference call.

Xueqin Dong: As a result of the adjustment of our sales strategy, although the sales of the first quarter and the overall income are slightly fluctuating, we have successfully expanded into the North American market through large-scale supermarket cooperation. At the same time, we have also made progress in the Southeast Asian and European markets and have made sufficient preparation for long-term sales. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group Hello everyone, I'm Xueqin Dong, the CEO of Kandi Technologies Group. Welcome to today's conference call. We are pleased to report a solid start to the year with total revenue for the first quarter approximately $20.7 million, and net income around $0.8 million.

Don: We are pleased to report a solid start to the year with total revenue with total revenue for the first quarter approximately $20 7 million and net income around 0.8 million. Despite some fluctuations in cells and overall income due to the adjustments in all.

Xueqin Dong: Despite some fluctuations in sales and overall income due to the adjustments in our sales strategy, our expansion in the North American market is progressing smoothly through collaboration with large nationwide chains. We have also been progressing in the Southeast Asian and European markets, laying the groundwork for robust sales in the upcoming peak season. It is with pride that we highlight our stable balance and Healthy Financial Additions. Additionally, we have repurchased. 564,302 shares this quarter, reflecting our confidence in the company's future growth.

Don: Cell strategy, our expansion in the North American market is progressing smoothly through a collaboration with a large nationwide hence.

Don: We have also been advances in the South East Asian, and European markets laying the groundwork for robust sales in upcoming peak season.

Don: It is it was a play that we highlight our stable balance sheet and healthy financial audition.

Don: Additionally, we have repurchased.

Don: 564003 hundred O T O shares this quarter, reflecting our confidence in the company's future growth.

Don: Once again well.

Xueqin Dong: Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group. I believe that the launch of these products will greatly increase our sales revenue. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group This strategy not only shows our confidence in the company's growth in the future but also shows our commitment to improving the value of shareholders. We hope that our strategic adjustments will be understood by a large number of shareholders. Currently, we are actively refining our product portfolio. Already in the first quarter, we have begun rolling out our rechargeable AA batteries to the market.

Don: I just want to see in tandem.

Don: The digital channel and how it is.

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Speaker Change: Sure.

Speaker Change: Currently we are off to a really refining our product portfolio already in the first quarter, we have begun rolling out our rechargeable AA batteries to the market. Looking ahead, we are excited to introduce starter batteries and a more competitive lineup.

Xueqin Dong: Looking ahead, we are excited to introduce starter batteries and a more competitive lineup of all-electric off-road vehicles and electric water sports products. We anticipate these new products will significantly drive our sales revenue upwards. At the same time, we are gearing up to launch our limited edition golf card collection. These unique series, created in partnership with the National Football League and Lowe's, will feature branding for all 32 NFL teams.

Speaker Change: Of all electric off road vehicles, and electric water sports products.

Speaker Change: Anticipate these new products will significantly drive ourselves driving your op Wade.

Speaker Change: At the same time, we are gearing up to launch our limited edition golf card collection.

Speaker Change: This unique serious created in partnership with the National Football League and knows well future branding for all 32 and F L teens.

Xueqin Dong: This initiative is a clear indication of our confidence in our future growth and our steadfast commitment to delivering value to our shareholders. I am confident that our strategic adjustments will garner the understanding and support of our shareholders. Now we will start the Q&A session. Chairman Hu Xiaoming and I will answer your questions. Mr. Kewa and Mr. Lim will translate the questions into English. Please start your questions.

Speaker Change: Does he need caito is a clear indication of our confidence in our future growth.

Speaker Change: And the hours that fast commitment to delivering value to our shareholders I am confident that our strategic adjustments will garner the understanding and support of our shareholders.

Speaker Change: Okay.

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Speaker Change: Now we will move on to the Q&A session can know who sell me and I will answer your questions and this quinoa and I missed it Alan will provide translation for English questions. Please go ahead and ask your questions.

Kewa Luo: Now we will move on to the Q&A session. Qianmen Hu, Xiaoming, and I will answer your questions, and Ms. Kewa and Mr. Allen will provide translation for English questions. Please go ahead and ask your question. If you would like to ask a question, please press Star 1 on your telephone keypad. A confirmation tone will indicate your line is in the question queue.

Speaker Change: If you would like to ask a question. Please press star one on your telephone keypad.

Speaker Change: Confirmation tone will indicate your line is in the question queue you.

Speaker Change: You May press star two if he would like to remove your question from the queue.

Speaker Change: And for participants using speaker equipment, it may be necessary to pick up your handset before pressing the star he is.

Michael Pfeffer: You may press star 2 if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. Our first question is from Michael Pfeffer with Oppenheimer and Company. Please proceed. Hi, thanks for taking my question. In the year-end 10k press release, it was good to see the CEO for the first time mentioning Lowe's and making what appears to be an attempt at a very positive comment for the balance of this year.

Speaker Change: Our first question is from Michael Schafer with Oppenheimer and company. Please proceed.

Michael Schafer: Hi, Thanks for taking my question.

Michael Schafer: On the year end 10-K press release it was good to see the CEO for the first time mentioning lows and making what appears to be an attempt at a very positive comment for the balance of this year. However, I assume due to a translation error, which should have been a positive statement ended up putting a negative spin on the stock that started.

Michael Pfeffer: However, I assume it was due to a translation error that should have been a positive statement ended up putting a negative spin on the stock that started the severe price decline. Management was immediately notified of the error, which should have been immediately corrected, but instead chose to ignore it.

Speaker Change: The severe price decline management was immediately notified of the Ara, which should've been immediately corrected, but instead chose to ignore it here is an excerpt from the P. R.

Kewa Luo: Here is an excerpt from the PR that contained the confusing error. Do you want to translate that quickly? Sure. This question is from the end of the year 10K news article I saw the CEO mentioned Lowe's for the first time and made a very positive comment about this year This is very comforting But I guess it may be because of a mispronunciation It should have been a very positive statement but the stock price began to drop sharply The management team was immediately notified of this mistake but it should have been corrected immediately But the management team chose to ignore it The following is a mispronunciation in the news article, Dr. Dong, CEO of Kandi, commented, we acquired Northern Group to expand our sales channels.

Speaker Change: Contain the confusing error.

Speaker Change: Do you wonder is translate that quickly.

Speaker Change: Sure.

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Dr.: Go ahead, yeah. Thanks Dr.

Dr.: Doctor Dong CEO of Candy commented, we acquired northern group to expand our sales channels. Moreover, we further strengthen our partnership with Lowe's expand to more than 10 Super centers in 2024, thereby broadening our market coverage in North America, we're proud to return to profitability in 2023, marking an important milestone in our <unk>.

Kewa Luo: Moreover, we further strengthen our partnership with Lowe's, expanding to more than 10 supercenters in 2024, thereby broadening our market coverage in North America. We're proud to return to profitability in 2023, marking an important milestone in our development journey. Lowe's refers to each of its 2,500 stores as supercenters in its advertising and promotions.

Dr.: <unk> Mint journey.

Loews refers to each of its 2500 stores are super centers in their advertising and promotions. The PR. In question was the first time Kandi is even admitted in the PR that Kandi was stealthily doing business with lowes since mid 'twenty two.

Kewa Luo: The PR in question was the first time Kandi has even admitted in a PR that it had been stealthily doing business with Lowe's since mid-22. Without correcting that error in the PR, it gives an impression that Kandi is excited about Lowe's adding another 10 of its super centers when, in reality, Kandi at that time had long since opened up all of its 2,500 stores based on store managers' discretion by last year' In the news, this is what it says in the original text.

Speaker Change: Without correcting that error in the P. R. It gives an impression that kandi is excited about Lowe's, adding another 10 of its super centers. When in reality can do that at that time had long since opened up all of its 2500 stores based on store managers' discretion by last year's end. Please translate that thank you.

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Kewa Luo: Kandi's CEO, Dr. Xueqin Dong, commented, At the same time, we also acquired Beifang Group and expanded our sales channels. In 2024, on the basis of strengthening cooperation with Lowe's, we expanded our cooperation with more than 10 supermarkets, expanding our market coverage in North America. In 2023, we achieved a win-win situation all year round.

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Kewa Luo: This is an important milestone on our road to development. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Grp, ?????????,????????2022???????Los??????,???????????,???????????Los?????10??????????? Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Grp, Also on the last conference call, Mr. Hu, in response to a question, stated, so for this year, on top of what we are working with the Lowe's superstores, we have now added the corporation with more than a dozen or so of the retail chains with different scales.

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Speaker Change: Also on the last conference call. Mr. Hu in response to a question stated so for this year on top of what we are working with the low superstores. We have now added the corporation with more than a dozen or so the retail change with different scales. Currently are working on child sales in those superstores. In addition on top of the cooperation of the Super.

Kewa Luo: Currently, we are working on child sales in those superstores. In addition, on top of the cooperation of the supermarket, we are working with the dealership with more than 300 partnerships during 23. And in this upcoming 2024, we are trying to work with more than 1000 dealerships in the U.S. market. If you could just translate that, and I'll get to my questions quickly. ???,?????????,??????,?????????????,?????????,??????,?????????? ??,??,???????????????????????,??,??,???????????????????????, ?????????????????????????????????????????????? ???????????????????????????????????????????? ??,??????????,???2023?????????????????????,??????????,???2023??????????????????? ???????2024?,????????????????????????????????2024?,????????????????????????? ???????????????? ??,???? ?????????????????,??????????? ?????????????????,???????????

Market, we are working with the dealership with more than 300 partnerships. During 'twenty three and then this upcoming 'twenty 'twenty four we're trying to work with more than a thousand dealerships in the U S market. If you can just translate that and I'll get to my questions quickly. Thank you.

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Speaker Change: What you can get T cell phone Nicaragua sounding short LNG go ahead, okay. So questions since Kandi products were already available in all Loews Super centers at the time of the the prior P. R. Quote what specifically was the C. O C E O attempting to refer to with this partnership with Lowe's expanding some.

Speaker Change: More than 10 Super centers in the 'twenty 'twenty four quote to broaden market coverage.

Speaker Change: What did you want to name a few.

Michael Pfeffer: My first question is... Since Kandi's products are already sold in all of Lowe's supermarkets, what does the CEO's prediction for the cooperation between Lowe's and more than 10 supermarkets to expand in 2024 exactly mean? Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, So.

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Xueqin Dong: First of all, when we were on the last conference call, when we discussed the over 10 retail partners we are talking about, Lowe's is one of the retail partners, and, you know, and then, Speaking of loans, I just want to clarify that we actually don't have access to all 2,500 of them, but rather this portion of it is still expanding based on our negotiation and collaboration. I'd like to add something to this question. The question is, what he just asked, is that all 2,500 Lossy products are not like this.

First of all that we are in the last conference call. When we met about that Oh the pen.

Speaker Change:

Speaker Change: Have partners, we're talking about low it's one off that retail partners.

Speaker Change: And then.

Speaker Change: You can off load.

Speaker Change: Let me clarify that we actually don't have access to all 2500.

Speaker Change: But rather a good portion of it.

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Xueqin Dong: Because at that time, we sold them to Lossy through Coleman and sold them under Coleman's brand. After Kandi directly cooperated with Lossy, it expanded from 200, 250, and 300 to 500 this year. Okay, Mr. Hu. I have just replied to him. I will reply to you in detail later, okay? I just told him this. There is no need to add so much.

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Speaker Change: So John what's your opinion.

Speaker Change: <unk> will contact I didn't know how much of that figure as well.

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Speaker Change: So and Mr. Hu <unk>.

Speaker Change: Well all of that you know as I just mentioned just now we don't really have.

Speaker Change: The access to all the kind of 500.

Speaker Change: All of this we've got startup mode.

Speaker Change: And currently we have roughly 500 stores, although maybe not every those are the five I'm just dealt with all of our products. It depends on the category up to par does impact that as well.

Xueqin Dong: It depends on the category of the products and type as well. And by the next few months, we hopefully will expand the retail stores working with Lowe's up to like 600 or 900 or maybe by the end of the year. We expect the number of stores that will carry our products will be over 1,000. And, of course, that's our plan for now. So again, be clear about the collaboration scale. That gives some clarity, thank you.

Speaker Change: But in the end by making a few months, we hopefully will expand that.

Speaker Change: We started working with lowest up to like 600 900 Mega pad.

Speaker Change: End of the year, we expect that.

Speaker Change: First I will cover our products will be over a 1000 and of course, that's all planned.

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Speaker Change: So you're going to be clear the collaboration with them.

Speaker Change: Okay.

Speaker Change: That gives some clarity. Thank you regarding Mr whose comment on the last conference call was this dozen or so the retail change with different sales.

Kewa Luo: Regarding Mr. Hu's comment on the last conference call, was this dozen or so retail chains with different sales? Currently, child sales, like those confused with the CEO's comments about the low superstore sales in the year NPR. So can you kind of explain a little bit more about that comment was related to the child sales at Lowe's Supermarkets. Okay, the second question is that he would like to ask Mr. Hu to clarify that there were more than a dozen. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kewa Luo, Xueqin Dong There are more than 10 companies, so this is not a problem of marketing.

Speaker Change: Currently child's cells like confused with the Ceo's comments about the low superstore sales in the year N P or so can you just kind of kind of.

Speaker Change: Explain a little bit more about that comment was related to this.

Speaker Change: China sales in the low superstores.

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Xueqin Dong: Loss is one of the 10 companies. This has been made clear. He said this was selling children's products, but we did not say this.

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Xueqin Dong: We are selling our products. That is to say, what we are selling now is a variety of non-road vehicle products, not children's products. These 10 companies are all selling non-road vehicles that we produce. As for the cooperation with more than 10 supermarkets, which supermarkets, I can't tell you right now. Please go to our SC website, and you will be able to see it. This product is already on sale in some supermarkets. You can see them in the supermarket; you can see them on the Internet.

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Well so first of all I believe that there'll be no such confusion, because we keep stretching that you know they're over 10 of their retail partners.

Xueqin Dong: So, first of all, I believe that, you know, there has been no such confusion because we keep stressing that there are over 10 retail partners that we are working with, and Lowe's is one of them. As for the list of those retail partners of the magic retailer that we are working with, you can refer to the list on our, you know, KMD America website. And speaking of child sales, we are not quite sure. Do you mean the scale of the sales being small, or do you mean the sales of children's products?

That we are working with and lowest if one of them as for the lease up those retail partners all domestic retailer that way what can we you can refer to the news on our you know can be America website.

Speaker Change: And speaking of the Chow itself, we are not quite sure.

Speaker Change: The scale of the south being small do you mean.

Speaker Change: The children.

Xueqin Dong: Currently, we are, you know, selling all kinds of our outdoor, you know, off-road, like, you know, the off-road cars, the UTVs, and ADVs with those, you know, partners. Hope this can address your question. I think the child sales was sort of your quote, so I guess trying to understand maybe what type of products are the child sales. Can you delineate that? Is that not what you meant by child sales? Can you please remind us where the quote is when we're referring to the child cell? I'll have to find that.

Speaker Change: Product currently.

Speaker Change: Selling all kind of our outdoor.

Speaker Change: Off road lagging to the art of cards that you Tvs and a D V. It's with those partners.

Speaker Change: Hoping you can address your question.

Speaker Change: Yeah, just just I think the child's sales with sort of your quote.

Speaker Change: So I guess trying to understand.

Speaker Change: Maybe what type of products or the child sales do you can you delineate that or.

Speaker Change: Is that not what you meant by child sales.

Speaker Change: Can you can you remind us where the quote is when.

Speaker Change: When we will be playing out well.

Speaker Change: Yeah.

Speaker Change: Yeah, I'll have to find that.

Speaker Change: Yeah.

Michael Pfeffer: I think it's a quote, so I said it on the last conference call, Mr. Hu in response to the question stated, so for this year, on top of what we're working on with the low superstores, we have now added that corporation with more than a dozen or so retail chains with different scales. Currently, we're working on child sales in those superstores. I believe that's a quote from Mr. Hu. If I'm wrong, I'm wrong. But that's what I said. Okay, still in the quote, not in the presentation. I think we meant trial, not the child, trial, the trial sales. Trial, oh, that clears it up.

Speaker Change: Okay. Yeah. Yeah. This is this is of course, yes. It gets a quote when I said it on the last conference call. Mr. Hu. In response to question stated so for this year on top of what we're working with a low superstores. We've now added that cooperation with more than a dozen or so of the retails change with different scales. Currently we are working on child sales in those superstores.

Michael Pfeffer: Trial sales, understood. Okay. All right, well, that makes it clear. Thank you very much. Maybe it was translated incorrectly in that quote.

I believe that's a quote from Mr. Hu, if I'm wrong I'm wrong, but that's what that's doing the calling on.

Speaker Change: Chile, not that trout trial the trial itself.

Speaker Change: Oh, Oh that.

Speaker Change: That clears it up trial cells understood. Okay. That's right all right well that makes it clear. Thank you very much maybe it was translated incorrectly in that quote. Thank you.

Speaker Change: Thank you.

Kewa Luo: Thank you. Thank you. I'm sorry, Mr. Hu just said that the child's product may be the child's domain trial. He misheard us when he said child's domain trial.

Tom: So Tom can you find a yeah I'm I'm I'm, sorry, let me translate as far as I don't have that takes a lot of due to high so they themselves will call messages are high so the billings Hi, I'll just hold me sure sure social it's a bigger trial Hum caller. So you are going to pay Alli think Apache I sure wish law.

Operator: So, just now, Alan has already explained to him that it's not the child's product but the trial operation in these dozens of supermarkets. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, Okay, I'm sorry, operator. Yes, we can take next.

Tom: So that's kind of I'm sure most of all shapes and sizes.

Tom: The city with house anymore.

Okay.

Tom: Yes.

Speaker Change: Oh, Okay, I'm, sorry, operator, yes, we can take next question.

Unknown Attendee: Thank you. Our next question is from Steve Miller, a private investor. Please proceed. Good morning, Kewa.

Our next question is from Steve Miller, a private Investor. Please proceed.

Speaker Change: Good morning, Justin.

Unknown Attendee: Just with regard to the previous question that you guys fielded, if you would resume sending out a transcript of your Q&A call rather than rely on third parties, that would give you an opportunity to clear up any misstatements or mistranslation. Otherwise, this is what happens. People are taking statements that are, in fact, inaccurate.

Justin: With regard to the previous question that you guys feel good.

Speaker Change: If you would.

Speaker Change #100: Zane sitting now it's been spent.

Speaker Change: As the Q&A.

Speaker Change: Rather than relying on third party <unk>.

Speaker Change #101: It would give you an opportunity to clear up any misstatements.

Miss translation.

Speaker Change #101: Otherwise, yes as that happens.

Speaker Change #101: Statements.

Kewa Luo: In any event, my first question is regarding the Lowe's MSL cup. Last week Lowe's added some promotional material to their Google sponsored ads as well as added a new website landing page on their e-commerce site promoting a new line of candy golf carts as part of Lowe's 100 million a year NFL exclusivity sponsorship program. From the posting, each of the 36 NFL teams would have their own custom-branded Kandi golf carts going on sale in August for the fall season.

Speaker Change #102: My first question is regarding the lows in itself.

Last week those added some promotional material on your glucose sponsored ads as well as any.

Speaker Change #102: The new website landing page on your E Commerce site.

Speaker Change #102: A new line of Civitas cards, as part of <unk> $100 million a year.

Speaker Change #103: No exclusivity sponsorship.

Speaker Change #104: And he had tasty each of those 36 genes would have their E testing branded candy golf carts.

Speaker Change #104: On August <unk>.

Speaker Change #105: So all season could you go ahead and change sneaky.

Speaker Change #104: Okay.

Kewa Luo: Okay, first of all, the question from the investors is about single-character marketing. It's a good explanation that the company should have its own draft of the telephone conference instead of relying on the third party to disclose it directly through AI. In this way, the company can correct some mispronunciations and avoid some confusion.

Speaker Change #106: As long as the way Hogan's households, with Alan when no one sees a sure thing it depends look like yeah.

Speaker Change #107: I see the whole holiday you can surely in Jewish law is going to be in diodes for Peter but hopefully the single calls you and payload who I appreciate your coffee sunglasses, yet homegrown AI.

Speaker Change #107: Pillow tool that I see on the muscles and they'll go to ECS are fine are you. Finally found the Tolkien himself to alcohol at females young myself and I've had the ones you're not sure glad he sounds, though loss I'd say, well gosh I mean it sounds.

Kewa Luo: The question is about Last week, Lowe's added some marketing materials on Google Advertising. It newly added a login page to promote Kandi's new series of golf balls under the exclusive sponsorship plan of the U.S. National Infection Balls Alliance, which is $100 million per year. He said there are 36 in each alliance, but please correct him later; there are actually only 32.

Speaker Change #107: I don't want you in Dallas at the two Sao Paolo Bunzl since you essentially you got Oh, Yeah, and yeah, tweak one county silo slate Yeah. Email then the main cohort that that had a 20 ml dose advent with you must know that seem to take off with Joel and household this year, making them all essentially all of it.

Speaker Change #108: Uh huh.

Speaker Change #108: I think it had two things that you hit your French Adria Italian.

Unknown Attendee: This weekend, I assure you, all shareholders were clearly excited when they saw three pages on the Lowe's website showing the Kandi customized carts for the 36 NFL teams inviting advance orders for delivery in August. However, sometime on Sunday or Monday, it appears Lowe's took down those three landing pages. Clearly, Lowe's had been working on this web design for this project for some time, and rightly so, as it's a terrific idea. Seeing it suddenly taken down was a surprise, as was the taken down post on Candy America's own Twitter homepage.

Speaker Change #108: I think Japan, either golf, which hold true.

Yeah. He was quite high for social Oh go ahead.

Speaker Change #108: This weekend I assure you last shareholders meeting.

Exciting Nissan three pages and he knows that site, joining the T&D testing ways to get there.

Speaker Change #109: 36, NFL teams igniting advance orders for delivery in August however.

Speaker Change #109: However, since Sunday or Monday, a tier two tier three landing pages.

Speaker Change #110: <unk> been working on designs for the supply of chips or something right.

Speaker Change #111: So as a terrific idea.

Speaker Change #111: Suddenly taken down was a surprise.

Speaker Change #112: They are taking down test in T&D Americas later homepage, yet today, you probably revealed in those NFL Nathan.

Speaker Change #113: The press release.

Speaker Change #113: It hasn't changed much.

Unknown Attendee: Yet today you proudly reveal the Lowe's NFL linkup in your press release. Go ahead and transcribe. So when I saw this ad, it said that it would start selling in August. And our shareholders also saw the information that they could now accept pre-paid pre-orders. But it seems that since Monday, Lowe's has withdrawn these three landing pages.

Speaker Change #114: So he thought he would call nowadays I think she's a con call.

Speaker Change #115: Yeah. That's a horse race you are by yourself with higher social I cannot.

Speaker Change #116: Local diet hangar $10, you were supposed to be sure Sanjay.

Speaker Change #117: Page you show Oh, food that you're sending that.

Speaker Change #117: Thanks.

Speaker Change #117: Thanks, a lot Paul has its own unique I should know not Dubai until you got to start with Belo Monte tourists ally Love Ikea County May go you bought your chance Oswald Clint who I showed up in that how much it has to be yet.

Unknown Attendee: And Connie America also withdrew other information from Twitter and other social media platforms. So this is particularly shocking. I don't know what's going on.

Speaker Change #118: Yeah Tortola.

Speaker Change #118: If you pull that out and shrinking our browser isolation $10. All shall also the father Thai baht here on that side since the dollar stays Wow and that's L. A little stuff that's all.

Unknown Attendee: But today I saw the morning report from the company, which again mentioned the cooperation between NFL and Lowe's. Continue, Okay, so my question is, what's the status of this new Lowe's NFL golf cart offering? It's a terrific idea and should be heavily promoted by Kandi as well as Lowe's. This is a huge attention-getter.

Speaker Change #118: I'm telling you.

Speaker Change #119: So my question is what's the status of the <unk> in a single dose quite honestly.

Speaker Change #120: Thank you.

Speaker Change #120: It should be heavily promoting changes no as long as there's a huge attention gander.

Speaker Change #120: Candy sales, but just as important and credibility.

Speaker Change #120: Yes.

Unknown Attendee: Not only will it help Kandi's sales, but just as important, your credibility. My question is, what's going on with Kandi, the NFL, and Lowe's cooperation? This is a very big deal.

Speaker Change #121: When he says I'll be somehow place, yet and you'll share come to U haul Nf L. I lost you know that's what she was she sees I'll say, how hot food home father. She can go C&I I Don T. J T cells. So that's why our dialogue onboard where she was the switching quake sponsored wants to sell for your way I'm bound to also see something that's really at all.

Unknown Attendee: The company should spread this cooperation widely. This will not only help the company's sales but also help the company to increase its popularity. I want to know how far this cooperation has progressed and what the situation is. As far as we know, last week we tested it on the website. There are still some small problems on the website.

Speaker Change #122: Well it sounds you're talking that adult eat well, that's what she sees kingdom shut.

Speaker Change #123: Hung door English on my Soapbox.

Speaker Change #123: Okay.

Speaker Change #124: Oh, I'm I'm with Samsung.

Meg: Meg I love the fact that go on.

Speaker Change #126: Uh huh.

Speaker Change #126: Sure.

Speaker Change #126: Well that was on higher sales.

Speaker Change #126: So I wouldn't think that charter.

Xueqin Dong: We are adjusting it now. I believe next week you will be able to see all the information about the 32 teams. This is, of course, a very big deal. I believe this will greatly improve Kandi's brand and sales growth. Here, I would like to explain what he said about 36-9 teams. In fact, he only has 32-9 teams.

Speaker Change #126: In short, though any mental crazy commvault shampoo satisfactory shortly that chunghwa.

Speaker Change #127: So you got a freeze on topic.

Speaker Change #127: I think that'd be a congress opinions.

Speaker Change #128: Thank you all around the same time, you can buy the punishment.

Speaker Change #128: So I mean.

Speaker Change #128: How long is Florida.

Speaker Change #129: She says.

Speaker Change #129: I forgot.

Speaker Change #129: Sure.

Xueqin Dong: So, first of all, you know, there are actually only 32 teams in the NFL, and Lowe's is the exclusive partner of the NFL to sell the golf carts branded by Kandi. And as far as the website you mentioned, we believe that there are some adjustments to be taken care of, and we estimate that all the information on the website will be shown again with such news and information by next week. Indeed, that is a very big deal for us, Kandi, and hopefully, they can promote our brand even better. Great. And then there was a related question.

Speaker Change #129: So first of all.

Speaker Change #129: They're actually only 32 teams in the NFL and Lowe's is the exclusive partner of an NFL because so the golf cart branded by Kennedy.

Speaker Change #130: And as far as that website you mentioned, we believe that there are some adjustments to be.

Speaker Change #130: Khalaf, and we estimate that all the information on the website will be shown again with such news and probably information by next week.

Speaker Change #131: Indeed that is a very big deal for them for us candy and hopefully they can put a brand even more and better.

Speaker Change #130: Okay.

Speaker Change #132: Great and then a related question.

Xueqin Dong: Then my related question is, what other products can we expect Kandi to be selling through Lowe's and Kandi NSL relationship? Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group,,, Currently, the products being sold between Lowe's and NFL of the brand under Kandi are golf carts, and we will see how it develops in the future, but that's you know the product for golf carts for now. Thank you.

Speaker Change #133: And then my related question, what other clinics and we expect to be selling.

Ms Kennedy: Ms Kennedy and myself relationship.

Speaker Change #135: And what does that work.

Speaker Change #136: Is that when you share them.

Speaker Change #137: So she'll go through Keybank will go up unless Ohio, Thailand totally a molecule that's why I wish all of a sudden let's see how this young guns hunting.

Speaker Change #136: Okay.

Speaker Change #136: More channels of HIFU as a person that guy for Chaco.

Speaker Change #138: That's very helpful. Thank God for projects.

Speaker Change #138:

Speaker Change #138: And then sorry for the father.

Speaker Change #138: I'm currently the proud of being so between Lowe's and NFL.

Speaker Change #138: Brent on the Kennedy, the golf carts, and let's see how it develops in the future, but that's you know the.

The product for golf carts for now thank you.

Speaker Change #139: Okay. Next question is regarding your consultant and regarding the proposed spin.

Unknown Attendee: Okay, my next question is regarding your consultant and regarding the proposed spinoff. On the past two conference calls, questions were asked about a statement in your 10-K disclosing a consultant who was hired back in May of 2023 with the contract to terminate this month. The consultant was paid 300,000 shares of Kandi's stock worth $1 million. Allen responded that the consultant was hired for your plan to spin off the U.S. subsidiaries as one separately listed public company. Nothing else was said. Go ahead and press.

Speaker Change #140: And it just keeps conference calls questions were asked about his statement in your 10-K disclosure you consult.

Speaker Change #141: You may have.

Speaker Change #141: 23.

Speaker Change #142: Let me finish to terminate this once the consulting with phase 300000 shares of Kansas stock worth $1 million.

Henderson: Yeah Henderson.

Speaker Change #144: Consultants hired so you place in us and U S subsidiaries as Lawrence separately listed.

Speaker Change #144: Nothing else.

Speaker Change #145: Mhm interests.

Speaker Change #146: Hum once you're sure Glenn Worman mm two phone calls all day.

Kewa Luo: This question is about a consultant we hired a year ago. This consultant, we disclosed at the time, was a consultant who came to help our American wind company go public. Continue, please.

Speaker Change #146: Yeah, well, yeah, Oh cool, what you'll go along Bellshill material issue, we're not bound to a woman that was.

Speaker Change #146: Phone calls to realize I'm sure that.

Speaker Change #146: But you got cool wet.

Speaker Change #147: Continue please.

Unknown Attendee: If I understand your intent, it would be a NASDAQ listing; Kandi would retain a majority share position. The spin-off would release value of Kandi not represented in the current share price and allow it to book, as a separate company, its own sales and P&L. Based on NASDAQ minimum prices and market cap, however, logic would seem to make it mandatory that Kandi's stock price would have to be trading at least three or four times higher than currently to get an underwriting sponsor firm to manage the IPO. However, Kandi's shares have done nothing but gone down since the consultant was hired. Can you go ahead and translate this?

Speaker Change #148: If I understand your intent.

Speaker Change #148: Listing kandi would retain a majority share position.

Speaker Change #148: With release value is represented in the current share price.

Speaker Change #148: Just as a separate company sales A&P.

Speaker Change #148: Based on the.

Speaker Change #148: Minimum prices and market launch.

Speaker Change #148: Logic would seem to make it mandatory EQT stock price to be trading at least three or four chains.

Speaker Change #148: Certainly to get any easier writing sponsors for them to manage that.

Speaker Change #148: Kandi shares and getting nothing deeper down since the consultants.

Speaker Change #148: Uhm.

Speaker Change #148: I'm not sure.

Unknown Attendee: Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, If I understand it correctly, we want to separate Kandi from the US and make it an independent Nasdaq listed company so that Kandi can be released as an independent manufacturer of real value and have its own independent accounting system and record of profits. But it seems that since we hired this consultant, Okay, my question is, what value has the $1 million consultant contract brought to Kandi given where Kandi's share price stands today?

Speaker Change #148: Hum.

Speaker Change #149: Neither Jones, who the hotline Oh, well, Michelle Jones coffee make one up 44 I can only go to what he does not establish articles.

Speaker Change #150: Yeah, and I cannot go chiffon comedies. The way you got to what do you figure out how many of those larger now.

Speaker Change #150: Oh Boy I'll tell you what he does he was he's on T. He was since he does he feel more.

Speaker Change #151: Thanks for your attention and I was just home in coil I take Oh go into whole wasn't bad.

Well medical how is it that I E is that south yeah.

Speaker Change #152: Yeah, melting dogger, which as I told the team job.

Unknown Attendee: And what is the contract's current status? And has the consultant been retained again, or will he be in the near future? What I want to know is, what is the value of the $1 million we spent to hire this consultant?

Speaker Change #152: My question is what's the name.

Speaker Change #153: The 1 million dollar consultant contract Rocky Kennedy, given where it can.

Speaker Change #153: <unk> share price stands today.

The contract status as a consultant and reaching to Jim.

Speaker Change #154: Bill do you in your future.

Speaker Change #155: We're down to dollar share well my follow up I wasn't that young like ones like.

Cool you won't take a call with the Choppiness or summer Ah female bonds with Alcon flu shot a whole lot of sense I, yeah, well geologists I tell them, how well unless you're probably equal youll can take avoid sheila.

Unknown Attendee: It didn't help the company's stock, and now we don't know the status. Have we already renewed our contract with this consultant? Can you tell us what the current situation is? We don't need to renew this contract.

Speaker Change #156: Sure for Gulf of Bengal Council Am I, saying I'm with you.

Speaker Change #156: Actually this amount of time clock.

Speaker Change #156: Okay.

Speaker Change #156: I think a good I don't know women may look like.

Speaker Change #156: Yeah.

Xueqin Dong: Although the contract is due to expire, the relevant business is still in progress. You won't waste the consultant fee. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, We anticipate the spinoff will be finalized this year. When do you think this company will be completed? ??, So, first of all, you know, the plan is to do the dual listing instead of the spin-off, which is two separate concepts. And the related process is being, you know, proceeded in an orderly fashion.

Speaker Change #156: So I don't see like I thought she that sounds it sounds.

Thank you.

Speaker Change #156: The three gene therapy for them.

Speaker Change #156: Can nimble fleet along with each other.

Speaker Change #156: Yeah.

Speaker Change #156: Even though it may be that contract has.

Speaker Change #156: Despite however, they're related.

Speaker Change #156: Keeps moving.

And the whole process, it's being placebo. So we don't think those consulting fees will be wasted.

Speaker Change #156: He anticipated spin off will be finalized this year.

Speaker Change #157: I'm sure that you're sure I'd say look once the forties glasshouses so muscle in the long term here Daniela.

Speaker Change #158: Semi Suzanne donohoe.

Speaker Change #158: Thin value with sugar preaching send me the Buckingham and the one thing that.

Yeah.

Speaker Change #159: So first of all are you.

Speaker Change #159: The plan is to do the dual listing is speeding up with just two separate concept.

Speaker Change #159: And the other related products.

Speaker Change #159: This is being you know.

Speaker Change #159: Proceeded in orderly if things go smoothly hopefully the whole process can be completed by the end of this year.

Xueqin Dong: If things go smoothly, hopefully, the whole process can be completed by the end of this year. Anticipating any new Kandi America acquisitions will be made before the spinoff will be consummated. For example, additional distribution of manufacturing facilities.

Maybe anticipating any new T&D America acquisitions to be made before the spinoffs there'll be consummated.

Speaker Change #159: Example, additional distribution and manufacturing facilities.

Speaker Change #160: And he was going to say to your point, you're cancelling for play Yahtzee, another Socal Oh.

Unknown Attendee: Do you think there will be any other acquisitions before the break? Are there any plans to increase the company's production capacity??? We don't have any such plans under consideration for now. Out of curiosity, was the consultant Patrick Koh in his company, or was it someone else? And why didn't you disclose that in the SEC?

Speaker Change #162: She'll go over a few highlights I'm juggling with.

Speaker Change #161: I shouldn't have sometimes hang on.

And if you'll humor.

Speaker Change #163: Got it.

Speaker Change #161: Okay.

We don't have such plan a consideration for now.

Speaker Change #161: Hum.

Speaker Change #161: Exactly.

Speaker Change #164: Company or someone else why can you disclose that in the FCC settlements.

Speaker Change #165: Am I asking.

Unknown Attendee: Are you asking who this consultant is, right? How come we don't disclose it in the SEC filing? Yes.

Speaker Change #165: Who is this consultant like how come we don't just closing the SEC filings.

Yes, yes.

Speaker Change #166: Yes color palette dose, which is a.

Kewa Luo: He asked who the consultant was and why you couldn't reveal his name in the SEC documents. [inaudible] Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group We don't need to disclose who our listed consultants are. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, because they are not on the radar. So hopefully, they can address your question. I understand. Can you comment on the impact, if any, of the recently announced tariffs on EVs and lithium batteries?

Speaker Change #167: Is it going to stay away from any point I'm, sorry S. E C that when they announce them soon would have any answer.

Speaker Change #166: Yeah.

Speaker Change #168: Okay great.

Speaker Change #166: Great.

Oh Oh, okay.

Speaker Change #166: Paul.

Speaker Change #166: Hi.

Speaker Change #169: And Selman push you up here to say children does tend to stick with.

Speaker Change #169: Oh My goodness I mean, you can ask for it.

Speaker Change #169: Yeah, No actually you know further that's good.

Speaker Change #170: Disclosing guidance, we don't have to disclose the dam and the party of our consultant.

Speaker Change #170: Because they are not underwriter.

Speaker Change #171: So hopefully I can address your question.

My understanding is you can't.

Speaker Change #172: If any of the recently announced keresan Evs lithium batteries.

Speaker Change #173: Oh, I'm sorry, Steve.

Speaker Change #174: Skipping you repeat your question chemistry can Mr. Hu tell me.

Xueqin Dong: I'm sorry, Steve, you are a little bit skipping. Can you repeat your question? Sure. Can Mr. Hu comment on the impact, if any, of the recently announced tariffs on EVs and lithium batteries that were recently announced? [inaudible] Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group First of all, our company's golf course is 70-80% golf course. This is not affected, not within this range. , 7.5V,, 25 The 25th is not a big deal.

Speaker Change #175: Can you say any of the recently announced tariffs on EV batteries.

Speaker Change #174: Recently.

Speaker Change #176: Okay. That's helpful. Don I'm, not so sure I'm, telling you that's awesome gagan and core samples I thank them for that.

Xueqin Dong: We will deal with it in a way to reduce costs. [inaudible] Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group So, first of all, our golf cart products, which is one of our major revenue streams right now, are not under the scope of the electric vehicles, so the 100% tariff will not impact, you know, the sales of Secondly, the tariff on lithium batteries has increased from 7.5% to 25%.

Speaker Change #177: Standalone keystroke, letting that chicken, so well actually they're going to see some muscle sure sounds like vocals field hemophilia.

Okay.

Speaker Change #178: Oh sure Michael Sudhakar for sure Hi, Jeff mentioned Vincent Sebastian.

Speaker Change #177: Sure.

Speaker Change #177:

Speaker Change #177: So each on that because I forgot it finally for me.

I'm a woman that lead again.

Speaker Change #179: Sure Dan.

Speaker Change #179: Sure.

Speaker Change #180: Uh huh.

Speaker Change #181: Hey, guys.

Speaker Change #182: Hi, Shlomi.

Speaker Change #182: Ashwin I wouldn't you, Bob Johnson and keep them.

Speaker Change #183: Yeah the funds.

Speaker Change #182: Yeah.

Speaker Change #184: Why do you think.

Speaker Change #185: No for sure since Thats in all of America tandem.

Speaker Change #185: Hum.

Speaker Change #185: Okay.

Speaker Change #185: Yeah, that's gonna want me a few minutes.

Speaker Change #185: Okay I've been back why do I say that I'm tandem.

Speaker Change #185: I'm doing well maintained.

Speaker Change #185: So you can see the Frankfurt to meet that make what syndrome.

Speaker Change #185: Yeah.

Speaker Change #186: So first of all our golf club product.

Speaker Change #187: Which is I wonder if they'll a major revenue streams right now.

Speaker Change #191: Not under the scope of the electric vehicles. So that's the 100 per cent per but will not impact.

Speaker Change #187: That was all our golf club product secondly, the pellet lithium batteries.

Speaker Change #188: As English from seven 5% to a 25%.

Speaker Change #196: We would try to use one by reducing the cost and some other expense cutting and all that.

Xueqin Dong: We will try to respond by, you know, reducing the cost and some other expense cuts in order to make our products the same in the competitive. Finally, as for the UTV products, you know, even though the tariff has not been pronounced yet at the moment, we will consider using the CKD approach to produce and manufacture the electric UTV products in the United States in order to avoid the tariff impact. I hope they can address that.

Speaker Change #187: To make our products being the same.

Speaker Change #187: From a competitive.

Speaker Change #189: Finally, our S E T V pro that.

Speaker Change #189: Even though.

Speaker Change #189: That has not been announced yet at the moment, but we will kind of see that you can't use in the UK the approach.

Speaker Change #189: To produce and manufacture electric EV products in the United States.

Speaker Change #190: In order to avoid the tariffs.

Speaker Change #192: I hope they can address that.

Speaker Change #190: Sure.

Speaker Change #193: Thank you.

Xueqin Dong: And then the picture that Twitter on Twitter that Kandi America put up on their site, it showed Kandi America folks posing with the mayor of Laredo, Texas, with other locals in the middle of the field. It got my curiosity. Why did Kandi America post that image? And what should we do?

The teacher that theater.

Speaker Change #194: Candy Americans cleanups on their site.

Speaker Change #200: It shows Candy American Stokes closing with the mayor of Laredo, Texas with others locals in the middle of this field.

Speaker Change #195: We're yesterday leidy can't be very consistent image and what should we take from it.

Speaker Change #197: Hum paint the picture was cool.

Unknown Attendee: Can you repeat the picture with who? There was the Twitter Kandi American. They posted an image of Kandi America folks posing with the mayor of Laredo, Texas, and other local officials. Okay, I got you. He said he saw a picture on Kandi's Twitter of a Kandi employee and a local mayor and some related photos. He said, "What does this picture mean? What kind of action is needed?

Speaker Change #198: Was it the Indian American.

Speaker Change #198: Image can be a mix of folks housing with the near term.

Speaker Change #198: Okay.

Speaker Change #198: Okay.

Speaker Change #199: Oh, sorry, I I gotcha on peso what has happened outside problem you may go out and do that.

Speaker Change #199: These are sound and I always tell them yourself, yes, yeah, how do you make what that will do that younger guns Osha donkey the Shanghai.

Speaker Change #201: But you're still quite an adult young how shall I T. T. How does one Lisa I see y'all Notionally on the C Corp.

Speaker Change #201: But there are bound to fill them and call them Mega Mega.

Xueqin Dong: At that time, we used that, that, that, uh, The mayor has invited us to discuss the possibility of cooperation in various areas. In short, we are going to discuss some possibilities. Well, actually, it's just for us to explore the opportunities and possibilities. And currently, there are not very many concrete developments for now. Okay, my last quick question. Go ahead, sir.

Speaker Change #201: I gotcha.

Speaker Change #202: So city sits down and says you know a man.

Speaker Change #202: And then after that you can call I've got a couple of million there because that's where the condensate.

Speaker Change #203: Yes sure.

Speaker Change #203: Sure.

Speaker Change #204: It sounds like a man from agenda.

Speaker Change #204: Yeah.

Speaker Change #204: Yeah.

Speaker Change #205: Oh, Okay. It just for us to explore the opportunity opportunities and possibilities and currently there is no very many concrete development for now.

Speaker Change #204: Okay.

Unknown Attendee: Okay, and my last quick question is, this sounds odd, who currently is the CEO of Kandi America? Unknown Attendee, Kandi Tech Grp, Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Grp. The CEO of Kandi America is Johnny Tai, and I believe that such information is also disclosed online and on the website. Okay, thank you. Yeah, DeBerry Golf Carts had put out a press release and had referred someone else. Thank you very much for your responses.

Speaker Change #204: Okay.

Speaker Change #204: Development.

Speaker Change #206: Okay and my last quick question is this.

Speaker Change #207: He currently is the CEO of Candy and Erica.

Speaker Change #208: When does that when you share it since that time, you make what does see o'shea.

Speaker Change #208: Yeah.

Speaker Change #209: And a man if you join me in guys.

Speaker Change #210: I'm going to bring a yoga.

Speaker Change #211: I'm the CEO of Tenda breakout you Johnny tie and I feel like that that's been from Asia is also disclose all right.

Speaker Change #211: The web site.

Speaker Change #212: Okay. Thank you.

Speaker Change #213: You're very close it out with the press release, you had the surge as someone else. Thank you very much for your expenses I appreciate it.

Speaker Change #213: Thank you.

Speaker Change #213: Yeah.

Speaker Change #214: Our next question is from Terry.

Unknown Attendee: I appreciate it. Thank you. Our next question is from Terry. Nick LaMoure met with Lickmore and Associates. Yes, thank you. Two quick questions.

Speaker Change #215: Nick Lamar met with look more and associates. Please proceed.

Speaker Change #216: Yes, thank you too.

Speaker Change #217: Two quick questions.

Speaker Change #218: First one is can you give us an update on our sales that are international.

Nick LaMoure: Can you give us an update on sales that are international, such as the retailers internationally that we're selling our golf carts. That's the first question. And then the second question, can you give us guidance for the rest of 2024? And I know I'm just asking for a best guest, and maybe also for the calendar year 2025.

Speaker Change #219: Such as the retailers.

Speaker Change #219: Actually that we're showing our golf carts through that's the first question and then the second question.

Speaker Change #220: You gave us guidance for the rest of 'twenty 'twenty four I don't know I'm, just asking for a best guess here and maybe also for the calendar year 2025. Thank you.

Nick LaMoure: Hang on. Let's go one by one. Your first question is... International sales, who the retailers are, what percentage international sales, international sales? Yes. He has two questions. The first one is that he wants to know how our international sales are doing. ,,, Currently, we are trying to expand ourselves to regions such as Southeast Asia and then to European regions. However, the scale is not big, but we are trying to expand down the road. Unknown Speaker...no names that you can see...

Speaker Change #221: Hang out let's go one by one and your first question is.

Speaker Change #222: Yeah International sales, who the retailers are what percent of national sales International sales, yes, okay.

Speaker Change #223: How do you like the ones you deal with you touched on a sound houses album of dry eye towards he found that there's a social she isn't yonder.

Speaker Change #223: Okay.

Speaker Change #223: I assume there are women.

Speaker Change #224: I don't I Oh toe.

Speaker Change #224: So please do in fact lose should that tie it seemed kind of young episodic.

Speaker Change #224: Okay.

Speaker Change #224: Yes.

Currently we are trying to explain ourselves to the regions such as southeast Asia and then.

Speaker Change #224: European regions.

Speaker Change #224: However at this scale is not that we are trying to expand down the road.

Speaker Change #225: So no names that you can give us on that.

Kewa Luo: Transcribed by https://otter.ai Can you tell us the names of your business partners?,,,,, As for the sales to those regions we just mentioned earlier, actually, we deal with them through trading companies and agencies in China. So we don't really work with those channels directly. Okay, well, then can you give me any kind of guidance?

Speaker Change #226: So I think there's enough when I'm by here in your market.

Speaker Change #227: Well my thoughts are that means the shaking out Halloween stuff that's out there.

Speaker Change #227: Well, there's a whole bunch of add ons.

Speaker Change #228: So let me turn the call pillow harm cause by Jama.

Speaker Change #229: They have high well mento for Tony Hawk, well need that why mark on food.

Speaker Change #229: Some woman you all put that figure out why haven't figured out why because I think.

Speaker Change #230: Cause the baby's shambaugh fingers Shang.

Speaker Change #230: All right.

Speaker Change #230: Neither by more comfort factor women piece pretty sure that performance this year.

Speaker Change #230: As for the cells to those region, we just mentioned earlier.

Speaker Change #230: Earlier.

Speaker Change #231: Actually we deal with that through the trading companies and agencies in China. So we don't really those channels directly.

Speaker Change #232: Okay. Well then can you give me any kind of guidance.

Nick LaMoure: Best Guest Guidance for the rest of 2024 and 2025. I know last year you talked about maybe doing $500 million in sales, but that may be a stretch.

<unk> guidance for the rest of 2024.

Speaker Change #233: <unk> 2025, I know last year, you talked about maybe doing 500 million in sales in 2025, but that may be a stretch at this point.

Speaker Change #234: Like South one thing I'm doing my choice I, I mean I see.

Kewa Luo: Next question, can you tell us about your forecast for sales revenue in 2024 and 2025? At the previous conference, you said that the goal was to reach 500 million in 2025. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group 2024 will definitely be better than last year. 2025 is still our goal, and we will work hard to achieve it. We believe that the total sales of the whole annual fiscal year 2024 will be better compared to last year. As for the target for 2025, we still try to aim the target to be $500 million, and we are trying very hard to achieve that goal. All right, thank you very much.

Speaker Change #233: They are doing.

Speaker Change #233: So those are where they need to oh.

Speaker Change #235: Yeah, I'd say 270 always how many total war Oh two it.

Speaker Change #236: So who am I.

Speaker Change #236: That will be all shared that on your own yen bad all a great year.

Speaker Change #236: Well you're making.

Speaker Change #236: Your movie all HIFU does she can't and won't be alma.

Speaker Change #236: Okay.

Speaker Change #236: I sure can didn't quite be chat hall number.

Harlan: Harlan I.

Speaker Change #238: Okay. That's the woman that won't be all I mean, it sounds like the only thing she says yeah.

Yeah.

Speaker Change #238: Will be like that.

Speaker Change #239: Total salaries up the whole annual physical year 2024.

Speaker Change #239: A little bit better compared to last year as.

Speaker Change #240: I saw that you know that.

Speaker Change #240: Target for the current 2025.

Speaker Change #240: We still try to target to be at 500 million and we're trying very hard to achieve such a cool.

Speaker Change #241: Thank you.

Speaker Change #242: Okay, Alright, thank you very much.

Speaker Change #242: Thank you.

Speaker Change #243: Our next question is from Fred fracture with come clear investments. Please proceed.

Fred Bratcher: Our next question is from Fred Bratcher with Comcore Investments. Please proceed. Thank you.

Thank you last week Candy America gave a peak on its homepage and Twitter page.

Fred Bratcher: Kandi America, Please see the complete disclaimer at https://sites.google.com, Similar, by the way, to a modern-looking... What markets do you anticipate this new candy will attract? How big a market do you expect this vehicle to grow in both countries? Okay, this question is about Kandi Tech Group in the U.S. There was a tweet about Kandi Tech Group. Kandi Smile is priced at $9900. It looks very similar to Kandi Coco. Can you tell us some data about this car?

Speaker Change #244: Under golf carts of the new 9900 dollar Candy Smile.

Speaker Change #245: Kim there by the way to a modern looking candy cocoa.

Speaker Change #246: What markets do you anticipate this new kandi will attract and how big a market do you expect this legal vehicles to grow in both golf and.

Speaker Change #247: <unk> EV configuration.

Speaker Change #248: I have another question after that thank you.

Speaker Change #249: Okay, I don't want to I'm, not sure she'll Guangzhou, China economy going on your day to to help me out it's actually quite Zhao County.

Speaker Change #250: We got caught on the smile, the equine seem to Oh go away. So we tend to buy me yet until by Glen Uh Huh.

Joe: As Joe said since the coffee cocoa.

Joe: Now Malone tiers, I'll have Joe Crunch, what how they use yeah.

Joe: Sure sure sure kit.

Joe: Oh, and you say that you don't trust us yet social Tuesday, so, let's see how social part I'd say that he highlighted the two myself with your Washington.

Speaker Change #252: Carolina Trust for women.

Speaker Change #252: You kind of assume that comes into it.

Speaker Change #252: So hopefully that plays out.

Speaker Change #252: One thing with the Fort Hills project.

Speaker Change #252: Has the Congress should we should sit down and you want that.

Speaker Change #253: Hi, Matt.

Speaker Change #254: <unk> got the machine now I'm in Taiwan, It sounds right.

Speaker Change #253: Okay.

Speaker Change #255: That's not the way you treat it shouldn't.

Speaker Change #255: That's been published by <unk>.

Kewa Luo: Do you think this car will be a sales car? [inaudible]?? So, first of all, this is a new type of product using a convertible format. And it is really mostly for recreational usage as, you know, cross-border golf cart utilization. For further specifications and other details of that product, you may refer to and stay tuned to the information to be disclosed on our website.

Speaker Change #256: Uh huh.

Speaker Change #255: Sure.

Speaker Change #255: Sure.

Speaker Change #255: Yeah.

Speaker Change #255: Yeah.

Speaker Change #257: So that's a thought this is a new type of a product called vertical fall at and it's really most for Richardson recreational usage as our cross border golf carts and utilization for third.

Speaker Change #257: Specs and or the VITAS up that product.

Speaker Change #257: And stay tuned to the information to be disclosed on our website. Thank you.

Speaker Change #258: Okay. Thank you also I hear other legacy vehicles, such as Coca.

Kewa Luo: Thank you. Okay, thank you. Also, are there any other legacy vehicles such as Coco?

Speaker Change #258: It can be re Shrek Richard acted too as new generation EV over the next few years.

Speaker Change #259: Oh, you're talking about not corporate scene, how is your thinking a little clarity as it relates to sound cocky cocoa down to Russia, probably close intelligently Glenn satellite also shows he thought he'd have that they're not sure.

Fred Bratcher: can be resurrected over the next few years. I'd like to ask, are there any other classic EVs like Kandi CoCo that will be upgraded to other EVs? We have developed new vehicles in the form of UTVs, ADVs, Go-Karts, etc. In the past, they were all diesel vehicles, but now they have been redeveloped into pure electric vehicles.

Speaker Change #259: Well it means that you would see with any degree to coffee nutrition and found buoy and figure out kind of outsourcing the court's ruling were to say Gee.

Speaker Change #259: She was ethical and send that.

Speaker Change #260: Oh, yes.

Speaker Change #260: Oh, My God pensions and turned on its head.

Xueqin Dong: We are also gradually improving them. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, Ongoing, we will primarily focus on our newly developed pure electric vehicles in the categories such as golf carts, ADV, and UDV. Quick question, any intention to keep buying candy?

Speaker Change #262: Yeah, that's what I found sometime.

Fred Bratcher: You mean for the company to buy back, continue to buy back shares? Okay. The last question is, will Kandi continue to buy back shares? Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, Correct. We will continue to do so until we purchase the shares of Kandi. Thank you.

Speaker Change #261: Pete will take sometimes.

Okay.

Ongoing we will primarily focus on our newly developed pure electric vehicles in the category such as they got caught a D V and Euro V P.

Speaker Change #263: Okay. Thank you.

Speaker Change #264: A quick question any intention to keep buying kandi shares.

Speaker Change #265: Oh, you mean for the comp company buyback continue to buy back shares okay.

Speaker Change #266: So we don't want to sushi, a comedy Super Glitzy shoes ethical culture.

Speaker Change #267: Hello, I'm, an iPad tissue topical.

Speaker Change #267: Yeah.

Speaker Change #267: Correct.

Speaker Change #267: Continue to do so until we purchased the shares can be.

Speaker Change #268: Thank you okay. Thank you very much.

Speaker Change #269: Our next question is from Arthur Porcari with corporate strategies. Please proceed.

Arthur Porcari: Our next question is from Arthur Porcari with Corporate Strategies. Please proceed. Thank you.

Arthur Porcari: Thank you well aside from the Awesome news about the loves NFL Candy collaboration announced today, what if any new breaking news products surprises can do you have for US. This year that we don't already know about on the last conference call no less than three times when criticized by shareholders for not sharing news new products through press releases.

Arthur Porcari: Well, aside from the awesome news about the Lowe's-NFL-Kandi collaboration announced today, what if any new breaking news products surprises do Kandi have for us for this year that we don't already know about? On the last conference call, no less than three times when criticized by shareholders for not sharing news on new products through press releases and also questioned about why Kandi doesn't follow the current trends reporting both GAAP and non-GAAP numbers as most analysts prefer, we were told all this would be taken into consideration in the future.

Speaker Change #271: And also question about like Candy doesn't follow the current transfer reporting both GAAP and non-GAAP numbers as most analysts prefer.

Speaker Change #272: All of this would be taken into future incineration.

Arthur Porcari: On each case, management reiterated that it could and would do better in the future. However, not only has it not done better in putting out breaking news, but it has also now extended the time since the last breaking news PR to over six months.

Speaker Change #273: In each case management reiterated that it could and would do better in the future. However, not only is it not done better than putting out breaking news and is also now extended the time since the last breaking news P. R to over six months the last breaking news P. R. I mean can you actually put out by corporate with the NASDAQ News retrieval.

Kewa Luo: The last breaking news PR on Kandi actually put out by corporate was the NASDAQ News Retrieval – if you go to the NASDAQ News Retrieval Service, you'll see it was titled, Kandi Technology Board Authorizes Stock Repurchase. I must admit the Kandi NFL announcement today was certainly breaking news and is much appreciated. Go ahead and pass that on, if you would please. Okay, this question, he said, Kandi. I saw in Kandi's news today that there was explosive news about Lowe's cooperation. Is there anything else about Kandi that we don't know about?

Speaker Change #274: Uh huh.

Speaker Change #275: On the NASDAQ Nutraceuticals service, you'll see was titled Kandi Technology Board authorized the stock repurchase.

Speaker Change #275: I must admit the candy NFL announcement today with certainty breaking news and is much appreciated.

Speaker Change #276: Go ahead and pass that on if you would please.

Speaker Change #277: Okay and tier ones, you know I'm sure.

Speaker Change #279: <unk> kind of coming from the ceiling Mayo podcasting to say that's not.

Speaker Change #278: Oh sure Yeah, that's right.

Speaker Change #277:

Speaker Change #281: Hunter Harrison my daughter can feel them up with your dog or.

Kewa Luo: At the last phone conference, there were at least three comments from shareholders saying that the company's management team did not share the information released by the new product and questioned why Kandi did not report the data of US GAAP's general accounting standards and the data of non-general accounting standards at the same time, like most analysts prefer to do. In any case, the management team reiterated that they would do better. However, the company did not fulfill its promise and did not report the data. Kandi Tech Group has not made any progress in this regard.

Speaker Change #280: Pat how about that.

Speaker Change #282: At the Science day honestly, you sounded entrepreneur.

Speaker Change #283: Don since I have a sense at tertiary teaching yeah sure goes there Glenn is her male from Johnson the time from publishing food I cant think too and I wish him economy per se on tablet cool. Thank you Shea Pat Harney, Oh <expletive> I'm, Paul Gong make what he'll share gap at that point on pricing trend for sure.

Speaker Change #283: See Toyota quiet he couldn't cause I should say suddenly you've got some cost down in Oklahoma and Tom bolt ons in kind of a notable thing way toward that goal.

I know concert female she said this isn't a ton of a female.

Speaker Change #283: Saputo ship, because all the holiday seamless, especially if I may you may also okay.

Kewa Luo: I read the last news on Nasdaq. The last news was to pass the historical news. On November 27, 2023, the company's last news titled Kandi Tech Grp authorized a stock repurchase plan. In other words, Kandi Tech Grp has not made any progress on the company for a long time. Continue, please.

Speaker Change #283: What color saturation.

Speaker Change #284: Nice to talk with you on that.

Speaker Change #284: So I'm.

Speaker Change #285: I'm glad you were here Nishu was asking on the army side, you'll see our T. A C corp to a shot okay. So why don't you share count be cookies I'm sure quite sure chemical appeal. When you go to you or is this just all country.

Speaker Change #285: You May all day concert that seemed at saputo in Ghana.

Speaker Change #286: Senior police.

Speaker Change #287: Okay. Since the last November T. Our canvas expands its currently available products from your original single Coleman model to now more than a dozen conventional golf slash M. A C V cards, plus new patented mini and mini sized carts, along with at least two U T. V's a 3000 dollar go kart three high end E.

Arthur Porcari: Since the last November PR, Kandi has expanded its currently available products from the original single Coleman model to now more than a dozen conventional golf-slash-LSEV carts plus new patented mini and midi-sized carts along with at least two UTVs, a $3,000 go-kart, and three high-end e-bikes. And that's only locations and products that shareholders have found from the retailer's own ads on the With no help from the Kandi IR department, new products and locations were only discovered through Internet searches of sponsored ads.

Speaker Change #288: Bikes, and that's only locations and products that shareowners is found from the retailers own hands on the Internet with no help from the Candy IR Department, New products and locations are only discovered through internet searches of sponsored ads.

Arthur Porcari: As witnessed by the current stock price, which has in the past traded at over $20 a share on little cash and a third of current revenues, management has lost a large amount of respect on Wall Street from its current and past shareholders due to the lack of giving updated information. For example, Kandi's added Walmart and Q423 with potentially 4,400 outlets. Camper's World, 2,200 outlets.

Speaker Change #288: As witnessed by the current stock price, which has in the past traded at over $20 a share little cash in the third of current revenues management has lost a lot of them out a large amount of respect on wall Street from its current and past shareholders.

Speaker Change #288: The lack of getting updated information for example, candies added Walmart Q4 at 23 with potentially 4400 outlets.

Speaker Change #288: It was worth about 2200 outlets, that's a new York stock Exchange company.

Arthur Porcari: That's a New York Stock Exchange company. Costco Canada, approximately 190 potential outlets. PV Corp, 290 outlets. And Rural King, 190 outlets.

Speaker Change #288: Costco, Canada, approximately 90 potential outlets PV Park.

Speaker Change #288: 90, <unk> hundred 90 outlets.

Arthur Porcari: Go ahead and read that to them. And Kandi has actually added a lot of new models And these models are not disclosed by the company We all saw these through the search on the website And the company's current stock price has also dropped to 2 yuan That makes the company's stock price continue to decline And we see that in addition to having many stores in Los Angeles In the second quarter of 2023, it also increased For example, there are 4,400 Walmart stores And there are 200 Campus World, which is also a listed company in New Jersey And Costco, Go ahead, continue.

Speaker Change #289: Go ahead and read that too.

Speaker Change #288:

Speaker Change #288:

Speaker Change #290: I think hunter Nigel shorts T shirts, and sends out a home for the let's say, but I think that was Hershey.

Speaker Change #291: I can't trucking lesser share constant don't mail people room I go here longs that have made home was also a kind of a change here.

Speaker Change #291: I think when we say medical telling me it's on all of that question no sugar coffee, yet, yes, I will go on to.

Speaker Change #292: Sure sure Scott Physicals, this or you know how the Coachella chopping it up with other Sacha I cannot and will not come back for sure.

Speaker Change #293: Oh in Europe.

Speaker Change #293: Sorry, I lost the Hmm Boardman dance, you Viola I'm, not saying, it's easy to hide some gela. They also are your Oh, yeah. We don't know if we can survive a warm in yen and the Hussar, Ohio lump I got campus world to seek out and you'll see all sorts of challenges.

Speaker Change #293: Now I'll Costco Gcs.

Speaker Change #294: Go ahead and continue.

Arthur Porcari: This despite its brilliant redefining of its conversion from EV autos to the electric off-road business model into a primary player in the especially potential trillion-dollar electric space. Actually, more than incredible, considering it's been less than two years since Kandi introduced that first single golf cart and is already positioned in the top five of North America and growing internationally. Shareholders are upset due to the seemingly indifference by management and promises of competing, or should I say, not caring about competing for new Wall Street investors.

Speaker Change #295: Despite its brilliant redefining of its conversion from autos to electric off road business model into a primary player in especially the potential trillions of dollars electric space actually more of an incredible considering it's been less than two years since kandi introduce that first single golf cart.

Speaker Change #295: Our position in the top five in North America, and growing internationally shareholders.

Speaker Change #295: Absent to the seemingly indifference by management promises.

Speaker Change #295: With PD or should I say not carried about competing wall Street investors.

Arthur Porcari: The fact is that based on year-end 2023 five-year record results, Kandi is by far the most fundamentally undervalued and profitable NASDAQ-listed stock, now trading at a 30% discount to its $2.90 cash, 60% discount to its book value, and 35% discount to its net working capital.

Speaker Change #296: That is it based on year end 2023 five year record results candies as far as the most fundamentally undervalued profitable NASDAQ listed stock now trading at a 30% discount to its $2 90, since cash 60% discount to its book value and 35% discount to its net working capital my questions.

Arthur Porcari: My question, go ahead and read that, and I'll hit you with a question. Okay, so the company has achieved very good performance on non-public roads. In fact, since Kandi launched its first golf cart, it has improved to the top five in North America in less than two years. These are all very hard to achieve.

Speaker Change #297: I read that and I'll hit you with your questions.

Tahira: Okay Tahira.

Speaker Change #299: <unk> consistently seen it.

Speaker Change #300: It's difficult to I'm, sorry, I said, you'll take Wuchang taken little choice. Some of it's you just see the La Cantera, who will tell you I see he sounds Russia, Oh kamikaze tweets will show up on car for total Hep without doubt unless you can't you'll see some they may tell me, whether Fisher theater, you'll find that interesting to us, especially now.

Kewa Luo: But how can shareholders do to attract investors on Wall Street? According to Kandi's year-end financial report in 2023, Kandi is the most underestimated profit stock among current Nasdaq companies. Its trading price has a discount of more than 30% for a cash value of $2.9.

Speaker Change #301: Well don't think glad he's her gaucher snowed for Motorola and I'm, assuming you had horses totally that'd be off yet.

Speaker Change #302: Hum it gotten up on my Ghansham Yanai, San Juan County, Danielle Jones type I'll come to you see a downturn lifestyle cushal going through to see if they do go that illegal yeah I'd. Thank Kelly chocolate I D.

Speaker Change #302: We are not quite sure what day same thing gotcha, you'll travel by mid century I show a cool.

Arthur Porcari: Unknown Speaker, Xiaoming Hu, Kandi Tech Group, Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, Okay, here's a quick question. I've got four questions, and a couple I just passed on. Does management, who collectively own only 17% of Kandi's stock, feel any concern at all that some Chinese entity could come make a buyout tender offer at double the current $2.30 price and still end up buying Kandi, the whole company, at a discount to its $5 share book value and additionally accomplish most of its heavy lifting by using Kandi's own $2.90 share cash to steal that control?

It sounds like you're telling me is as you know your bathroom yoshi retro cool salary equal.

Speaker Change #303: Ooh with Lego Batman. Thanks, you, that's really cool now Wally solvency.

Speaker Change #304: Go ahead.

Speaker Change #304: Okay.

Speaker Change #305: Four questions here.

Speaker Change #305: They just pass it on.

Speaker Change #306: As management to accumulate one only 17% of candy stock feel any concern at all that some Chinese entity could come make a buyout tender offer and doubled the current $2 30 price and still end up buying candy the whole company at a discount to its $5 share book value and Additionally, accomplish most of it's heavy lifting.

Speaker Change #307: And Kim zone, $2 97, a share cash to steal back control.

Speaker Change #308: Oh, well families all kinds of your content content that can feel comedy by mission critical thing you'll share shipboard dancing mortgage loans with a shaky economy bouncing along with them it sounds like that yeah.

Arthur Porcari: I want to ask you, Kandi's management has only 17% of its shares. Are you worried that a Chinese entity may launch a purchase of the company at a price of $2.3? In fact, even if such a two-fold share price is less than $5, it can buy the whole company. Are you worried about this? In addition, do you mainly use Kandi's own $2.9 cash to complete the transaction of this control Thank you very much for your concern and reminder. We will evaluate and take appropriate measures to avoid such risks. So, thank you very much for your concern and reminder. We will carefully evaluate and take appropriate measures to avoid such a risk.

Speaker Change #309: I thought you did go into Shoko. He does do to bend down a lot and they make when you're sitting with me and they tell me Josh Okay. My second we're going through it.

Speaker Change #310: It's simply the gentlemen, thanking select Chipotle Aliyah County.

Speaker Change #311: Yeah, Hi, Joe maintenance Central mine by mine country, a country trying to tell you.

Speaker Change #310: Okay.

Speaker Change #310: I figured I'd kind of say that's why do you think the key thing well known quick Lindsay and chemical subtypes of accounting and that's what's the likely be found the phone here.

Speaker Change #310: Yes.

Speaker Change #312: So thank you very much for your concern and a reminder, we will carefully evaluate and take appropriate measures to avoid such weak.

Speaker Change #312: Thank you.

Speaker Change #313: Okay, that's not much of an answer but let's go onto the next question.

Arthur Porcari: Thank you. Okay, that's not much of an answer, but let's go on to the next question. Why is management wasting shareholder value by paying for three different IR groups each month but not taking the good advice that I'm sure each has at times offered? And if that's not true, they haven't offered that, then that's a good reason to fire them all. Bye.

Speaker Change #314: Why is management wasting shareholder value by paying for three different IR groups, each month, but not taking the good advice and I am sure. Each has at times offered and if that's not true. They haven't offered that then that's a good reason to fire them all.

Speaker Change #314: That's that one on.

Speaker Change #315: Uh huh.

Kewa Luo: Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, I don't know who you are talking about, but we only have one AI team in Nancheng Mountain at the moment. As the company has been in a strategic adjustment period for the past two years, we still stick to the concept of small talk and do more. , Currently, we only employ one IL firm, that is, the Blue Shirt Group, so we actually don't have three separate IL teams. And because the company is currently in a period of strategic adjustments to be more focused on the golf cart and off-road vehicles in the U.S. market, we still adhere to the idea that just to do more and talk less. As our strategic adjustment gradually takes shape, we will be more proactive in Actually, I think you should.

Speaker Change #315: Has that kind of thing you don't worry about it.

Arthur Porcari: Well, you certainly have two, if not three, because Kandi America seems to use a trade IR group. And sometimes that pops up as press releases, but most of the time it doesn't as far as Wall Street and new services are concerned. Pass that on just as, [inaudible] Is that the name of the IR group? I don't know.

Speaker Change #315: Let's see what else am I want to see a woman one cycle and to wish him I'm glad he comes out of long cycle on that who don't have jobs to fool with sound up with Honda I Hope one day, they'll feel Iot application.

Speaker Change #316: You're going to Jackson, but yeah, you know what.

Speaker Change #316: English English you're shipping food for the high Na I'm joking on E O T T O.

Speaker Change #317: Ms Lillian.

Speaker Change #317: Okay.

Speaker Change #317: So there's some good things.

Speaker Change #317: But there's always let's say a woman with a chance to pin came along things that you could do that.

Speaker Change #317: Jay you can search for a chance to down convert shoes, you got soundly accountancy.

Speaker Change #318: Hi, This is being thing Sean talk board shortly yes.

Speaker Change #319: Is that a woman sorry, we are talking about sort of pushing things shall I won't go away.

Allison: Thank you Allison.

Allison: Okay.

Speaker Change #321: Currently we only employ one IL from that is that blue shirt group.

Speaker Change #322: So wedge or we don't have three separate Io team and because apparently company used in the period.

Speaker Change #322: But they ship adjustments to be more focused on the top call. It after auto vehicles in the U S market.

Speaker Change #322: We do have here to the idea that.

Speaker Change #322: Do more on top of that.

Speaker Change #322: As our strategic adjustment gradually take shape.

Speaker Change #322: It'll be more proactive in making that we made the adjustments in our pronouncement and the IL approach. Thank you.

Speaker Change #323: Actually I think you do well you certainly have two if not three because candy America seems to use a trade IR group.

Speaker Change #323: And sometimes that Pops up as press releases, but most of the time does as far as Wall Street.

Speaker Change #323: New services are concerned.

Speaker Change #323: Pass that on and just as a response.

Speaker Change #324: You mean guy Youll buy to solve a real kind of dog how do you make all your Vishal I think he says you know on July you'll kind of are you glad you all you said American trade.

Speaker Change #324: It doesn't name off the IR.

Speaker Change #324: I don't know whoever it is an IR firm the Candy America uses.

Kewa Luo: There's an IR firm that Kandi America uses. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group. All right, I'm in. We believe that there are some separate I.O. teams; we work on a contract basis for U.S. entities, but, you know, at the group level, we employ one I.O. firm that takes care of our public information and investor relations purposes.

Speaker Change #324: Sure.

Speaker Change #324: Some of them International I see a country make why you know the short how possible bolt on kind of how long ago, that's supposed to die off.

Speaker Change #325: That's a comment since you guys made a change.

Speaker Change #325: Okay.

Speaker Change #325: Okay.

Speaker Change #325: Okay.

Speaker Change #325: Alright.

Speaker Change #325: And then.

Speaker Change #325: Yes.

Speaker Change #325: Hello.

Speaker Change #325: Separate I O P. M. We are working on a contract basis.

Speaker Change #325: You had entities, but you know I'm in the group level, we employed one IL from their tickets, although you know public information.

Speaker Change #325: Investor relationship purpose.

Speaker Change #326: Well I just find it hard to believe that.

Arthur Porcari: Well, I just find it hard to believe that with everything good that's going on after 15 years with Kandi now, where we used to do 40 press releases a year, now we're doing almost none when it comes to breaking news. And I think it has to do with Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group. I just find In the past, Kandi was very, very active.

Speaker Change #326: With everything that's going on.

Speaker Change #326: Teen years with Candy now.

Speaker Change #326: We used to do 40 press releases a year now we're doing almost none when it comes to breaking news and I think it has to do with.

Kewa Luo: It would have 40 announcements a year. But now, compared to this, there are almost no announcements about the company's business. I just think the company should emphasize the importance of IR at the headquarters. A lot of the news should be sent out by the listed company, Kandi, to integrate the efforts of IR and market promotion. , Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, Yeah, I think we will do the related adjustments on the road, and you will see the results in the meantime.

Speaker Change #326: Splitting up of the IR responsibilities. It seems like the parent company should be the one that put out the I R. Just an opinion.

Speaker Change #327: Oh did you say this is the 19th Johnson's usually have gone through some of those dishes Dae gon.

Speaker Change #328: I told you you can't initial whole come to you say healthier or yeah, Yeah Wei.

Speaker Change #329: So she can't go on call I said that on Sunday, and you guys along with vehicles a year with a phone call. It's equal meal. Once you figure. It out. So you can go y'all them, but you know to share thoughts as I always I say, that's always enough on diagnosis on pool I'm looking like industrial it sounds like one for the comedy life Oswald.

Speaker Change #330: Like what's your tongue heritage all I R. I told you she is she's home.

Speaker Change #331: Tweet a T cell that Gee, if I'm right on the money.

Speaker Change #330: Yeah.

Speaker Change #330: So you'll probably hear about it you got angry at me if it wasn't dog picture since Sheila.

Speaker Change #332: Tell me in front of the counter.

Speaker Change #332: Yeah.

Speaker Change #332: Yes, I think we will do that we laid out judgments on the road and you would see that without ongoing thank you.

Arthur Porcari: Thank you. Okay, on to my request for my questions. Several years ago, management promised shareholders that once Kandi had a predictable, growing revenue stream, the company would start giving revenue and earnings guidance, mandatory to attract analysts and institutions, particularly in this competitive stock. However, over the past three years, despite a much stronger balance sheet, Kandi's institutional holdings dropped from a peak of 15% to 3.6%.

Speaker Change #333: Okay onto my best of my questions. Several years ago management problem is shareholders. Once Kennedy has a predictable growing revenue stream that somebody would start giving revenue and earnings guidance mandatory to attract analysts institutions, particularly in this competitive stock market over the past three years. Despite a much stronger balance sheet candies institutional holdings has dropped from a peak.

Speaker Change #334: 15% to three 6% can management give any reason why it refuses to confirm too.

Arthur Porcari: Can management give any reason why it refuses to confirm to the Wall Street Desire for Guidance and also non-GAP in addition to GAP numbers as it did in the last two quarters, I'm sorry, as it did in the last two years of the prior CFOs? A few years ago, Guan Yichen made a promise that once Kandi had predictable income growth, Kandi would start to provide income and profit predictions. This is also a necessary condition for attracting analysts and institutional investors, especially in this competitive market.

Speaker Change #334: The Wall Street desire for guidance and also non-GAAP and in addition to GAAP numbers as it did in the last two quarters and I'm.

Speaker Change #335: I'm sorry, as it did in the last two years at the prior CFO Mr.

Speaker Change #336: Uh huh.

Speaker Change #337: And I know Glenn anything you alternately feel like you're bound cangiano clean, especially with him down until corner kind of joke like heightened Hugo So I can really tell.

Speaker Change #338: So he's a friend he feels like he got closer to the Pea alcohols, Yes, Iot sits I say that sometimes you need a sitcom Joel you uncle he suddenly in Colombia towers alcohol, probably gosh I don't come to you that you go to Corporately not yet Ponce he called the 500 sure with SASSA on follow up I have moved your Sunday Neil.

Arthur Porcari: Although Kandi's financial situation has improved significantly in the past three years, Kandi's shareholding ratio has also dropped from 15% to 3.6%. [inaudible] Unknown Attendee,, Thank you for your suggestions. We will further evaluate and complement your suggestions and opinion and implement them in our procedures. Thank you. Okay, on the last conference call, Mr. Hu gave a response from Mr. Hu that some management would be considered personally buying back shares in the open market, as they did three years ago when they paid more than double the current price personally, and at the time, cash in the bank was but a fraction where it is today.

Speaker Change #338: While he's well known for T. I sure wish him much luck kills yet well then that's when you'll hydrogen so golf with you what's changed yet so what's the thinking going so high as well Tonight that he was on the whole. They told why he's gone so that hinge on social life, and so going through the Ah Yeah, Yeah, what I can do all sorts out its you can launch.

Speaker Change #339: Yeah, she chemicals as a CFO.

Speaker Change #340: Your passenger.

Speaker Change #340: Hugo.

Speaker Change #341: How are you today.

Speaker Change #341: Okay.

Speaker Change #341: Yeah.

Speaker Change #341: Well I mean look we're seeing bookings when you have a J.

Speaker Change #342: Thank you for that suggestion, we will further evaluate and complaint they are your your suggestion opinion.

Speaker Change #342: You know our procedures. Thank you.

Speaker Change #343: Okay last conference call sorry response from Mr. Hu, that's some management would be considered personally buying back shares in the open market as they did three years ago when they paid more than double the current price personally and then time cashing it backwards, but a fraction where it is today.

Arthur Porcari: Open market company share buybacks are appreciated, but due to Kandi's low daily volume, the 20% average volume maximum number of shares that can be purchased under the current 10B5 plan has been limited to maybe 15 or 20,000 shares per day. Why doesn't the company just make a straight $3.50 share tender offer for at least 10 million shares of stock, which would only use 15% of its cash?

Speaker Change #344: Open market companies share buybacks or appreciated, but duty candies low daily volume the 20% average volume maximum number of shares that can be purchased under the current <unk> plan has been limited to maybe 15 or 20000 shares per day.

Speaker Change #345: Why doesn't the company, just making a straight $3.50 a share tender offer for at least 10 million shares of stock, which would only use 15% of its cash.

Arthur Porcari: I doubt it would be fully subscribed due to the stock quickly jumping above that price once shareholders realize management is serious about increasing shareholder value. Most importantly, such an action by an EV-related company in this specific market would get a lot of attention that one could not afford to pay for. At the last telephone conference, Mr. Hu said that some management may consider rebuying shares in the public market, as in the first three years. At that time, the current price was more than twice as high as it is now. At that time, the cash in the bank was only a small part compared to now.

Speaker Change #345: Doubt it would be fully subscribed stock quickly jumping above that price one children's realized management is serious about increasing shareowner value. Most importantly, such an action by an EV related company in this specific market, we're getting a lot of attention that one could not afford to pay for.

Speaker Change #345: Pass that on.

Speaker Change #346: It sounds like hopefully you found though if we go on somebody else's or where you can't go out and telephone I'll play calia.

Speaker Change #347: Sounds <unk>, Sunny and nigh on cycle high for hot chocolate and cocoa.

Speaker Change #348: A doctor of Jostling alfieri downturn it sounds it she sends her that.

Pedro: Pedro I bounces, new Huh, that's something that you should send out a.

Speaker Change #350: Some pieces like yourself with the knuckle boom Crane halfway go cool friends see actual claim that it should not come to usually come in cellular D country should be without doing a few Hopkins you may you can't uncle medical virtually all your songs inside Diana My uncle, not wish I'm not gonna slip one I'm going to take your thoughts it yeah.

Kewa Luo: Although it is very popular to rebuy shares in the public market, the daily trading volume of Kandi is very low. According to the 10B5 plan, the average number of shares that can be purchased per day is limited to about 20,000 shares. The share price may exceed what we expected. The most important thing is that for an electric car industry-related company, such a move will be very, very much in the market. This is the propaganda effect that money can't buy.

Speaker Change #350: To solve my E tail Mount Sinai, how you analyze some tuned up I'm just sure now how are you somehow that sounds that I shall go now I tell you what.

Speaker Change #352: Well hi.

Speaker Change #351: He should government Joel.

Speaker Change #351: So he'll yell yep.

Okay.

Speaker Change #353: Yeah sure no one's gonna eat uncle niche without Guanines Homesites engine that nordea from Jacqueline charger knock on wood that kind of weighed superfund, you'll wait till like whole muscle.

Speaker Change #351: So.

Speaker Change #351: As I stated I think that somehow the chancellor.

Speaker Change #351: Sure. So we're still you got to hang onto a hungry it does sound glamour going for life or jealous historically stay healthy have Michel Dahan I'll Chicago Guangzhou.

Speaker Change #351: If you can come up with other Shanghai selling them.

Speaker Change #351: Okay.

Speaker Change #351: Okay.

Speaker Change #351: Got it.

Arthur Porcari: ??, Thank you for your suggestions, and we appreciate that. We'll take them into deep consideration and evaluate and react properly. Thank you. Okay, well, that ends my formal questions that I had for you, but I have just a few questions on what was recently announced today and what we said at the conference. I might add.

Speaker Change #354: A woman.

Speaker Change #351: Okay.

Speaker Change #351: Cool.

Speaker Change #355: Thank you have plenty of suggestions and we appreciate that really digging in deep consideration and are you about it.

Speaker Change #355: And we have properly thank you.

Okay, well that ends my formal questions that I had for you, but that's just a few questions on what was recently announced today, what we've said on the conference call I might add.

Arthur Porcari: As I addressed earlier in my comments, we keep getting the same thing. We'll take it under consideration, take it under consideration. We've been hearing that for years now.

Speaker Change #356: Addressed earlier in my comments, we keep getting the same thing well, we'll take under consideration take under consideration we've been hearing that for years now.

Speaker Change #355:

Arthur Porcari: But yeah, go ahead and pass that on, and I'll go on to some follow-ups on the news. I have some questions, but I would like to emphasize that we have made a lot of suggestions on previous phone calls, and the company has always responded by saying, we will consider it, we will consider it. When we hear such a response, we are already... We've been hearing this kind of response for many years. I have a few related questions to ask the management team, continue. Please.

Speaker Change #355: But oh yeah.

Speaker Change #357: Yeah go ahead and pass that on and then I'll go onto some follow up something.

Speaker Change #357: Came out.

Speaker Change #358: On petrol How's the run to you Duncan and I will just yeah I found out was that you'll show right that you don't wait say a woman I shouldn't say, a Halloween xiaomi elements each one of them.

Speaker Change #359: Well since all she eager even for the play basketball almost like Hollywood colleague Tina Xiao on the playful into them.

Daniela: Well, that's not downlink way pretty good I'm Daniela.

Daniela: Well he had Iot Gretzky would have somebody that wants a yellow in Guangzhou.

Daniela: Continue.

Daniela: Great.

Arthur Porcari: Okay, now again, these are just some follow-ups to what's been said. Regarding the Lowe's 500 stores, I've polled personally, down in my Houston area, at least three Lowe's stores, and two of them, I actually know the managers in that department, and they were under the impression that Lowe's had all 2,500 stores, or whatever it is, all 2,400 stores available to be buying Kandi But I guess it's good news if we've been doing what we have with only 500 stores, and I can't believe that this NFL thing that we're doing now isn't probably going to expand to almost all the stores. I just heard that you are now cooperating with 500 Lowe's stores. I have been to 3 stores in Texas and talked to their managers.

Speaker Change #361: Okay now that you're getting these are just some follow up somewhat with what's been said regarding the loans 500 stores.

Speaker Change #362: Oh personally.

Speaker Change #362: Houston area.

Speaker Change #362: At least three <unk> stores and two of them I actually know the managers in that department and they were under the impression that Lowe's.

Speaker Change #362: And all 2500 stores or 20, whatever it is 2400 stores available to be.

Speaker Change #363: Yeah, Brian can these products.

Speaker Change #364: But I guess, it's good news that we've been doing what we have with only 500 stores.

Speaker Change #364: I can't believe this Nf L. A thing that we're doing now isn't going to probably expand to almost all of the stores.

Speaker Change #364: Pass that on.

Speaker Change #364: Yeah.

Speaker Change #365: Wisconsin thousands of calls sourcing that you can close the Woodbine yeah, Yeah. That's why I'm. So tell me what the total lifetime by wheelchair I E. Sun's yeah, Yeah in Chicago, a whale crunches and at the end of June.

Arthur Porcari: According to them, more than 2,000 Lowe's stores could sell Kandi products. Of course, I am very happy to hear about Kandi's current approach. And the cooperation with the NFL is also very exciting. Please continue. Well, that was actually a question, but okay. What was the question you said? Well, that was a question I had specifically about that subject, that I was talking about the 500 stores, if they had any further comment, they probably would have had any further comment on that. But anyway, that's just what I've heard from the Lowe's manager. Okay, this one's interesting.

Speaker Change #365: All the goodness how much what is your share a little spelled out and tell all by itself would you announce yet okay. Let's see here shows the leverage of the odds are that someone else into China. Those are crazy I, social county by County, there hadn't been a bundle sure hung somehow gone condensate that is down the sofa I said since alpha M. S elder.

Speaker Change #366: Jamba thoughts on I guess your hunting I think Linda.

Speaker Change #367: Please continue.

Speaker Change #367: Yes.

Speaker Change #368: Well that was actually a question, but okay.

Speaker Change #369: A question on yourself.

Speaker Change #369: Well that wasn't that wasn't a question specifically about that subject that I was talking about 500 stores if they had any further.

Speaker Change #369: Do you have any further comment on that but that's just what I've heard from the lowest managers.

Arthur Porcari: You know, I've said over the past few years how soon I think they would be able to pass Polaris. I think Mr. Hu even made a comment on that a few years ago once we got involved in this industry. But what fascinates me is the missing link to Polaris is water sports. Today's press release actually mentioned we're getting into water sports, so I'd like more explanation of what that's all about. I'm sorry, can you repeat your question one more time?

Speaker Change #369: Okay.

Speaker Change #369: This one is interesting I've said over the past few years charging.

Speaker Change #369: Charlie.

Speaker Change #370: And how soon you think they would be able to pass Polaris I think Mr. Hu, even made a comment on that a few years ago. When she got involved in this industry, but what fascinates me is the missing link the Polaris there's water sports.

Speaker Change #370: This call today's press release actually mentioned, we're getting into water sports. So I like more explanation what that's all about.

Speaker Change #370: Okay.

Speaker Change #370:

Speaker Change #371: I'm sorry to your question one more time okay.

Arthur Porcari: Okay. What I'm saying is that in the past, I had chided management by kiddingly asking them how soon they could pass Polaris in this off-road vehicle industry, but the missing link at that time to Polaris was that it was also well known for its water sports. So my question is, today's press release specifically mentioned water sports as being a new product line you're getting into. Can you expand more on what that water sports is about?

Speaker Change #371: What I'm, saying is is that in the past I chatted management by Kiddingly, asking and how soon they could pass Polaris.

Speaker Change #371: And this off road vehicle industry, but the missing link at that time to Polaris is Polaris is well known also for its water sports.

Speaker Change #372: So my question is today's press release, specifically mentioned water sports has been a new product line, they're getting into and expand more on what that sports is about oh, okay. Okay.

Arthur Porcari: Okay, okay. So a long time ago, when I was talking to the management team, they mentioned North Star and Poirier. And we were very excited to see that today's news also mentioned that we're going to be adding more water sports products. So what can the management team say about competing with North Star and even surpassing them? Is there anything you can share with us?

Speaker Change #373: And now we'll go one time sale quite a show on a funny thing, but she talks a lot like where that shows up agency placed in Oklahoma right now.

Speaker Change #374: Oh, My God, It seems I'm coming out to hear that.

Speaker Change #375: This is a see when you see that with myself with them got history. It sounds hunting license. They are going to look Waddington blades, where should you hold all the hundreds of pages in conjunction judge how would how long you know somebody on that K K L. Shaw the key goal of my friends out there.

Speaker Change #374:

Xueqin Dong: We did not say that we would go beyond Beijing or compete with it. We will launch... Now, in the US market, pure electric water-based products are still very small. So we are now doing pure electric products. We will do some development on non-public roads and water-based products, such as individual boats and fishing boats. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, The sound of the blue and red balloons is very loud, which will affect the effect of fishing. If we use pure electricity, the sound will be very clear, which is good for the whole city.

Speaker Change #374: So how big do you think was the conductor team.

Speaker Change #376: Quite peaceful Joseph Sendai family.

Speaker Change #374: Tom.

Speaker Change #374: In some industries. Some time doing is looking to Shanghai, So why am I, saying, that's what it is from Dan Donlan of Hampton My Women's latest time frequently don't because I could.

So let's see sounder.

Speaker Change #374: Sure.

Speaker Change #374: Cooling piping huh.

Speaker Change #374: So that would tell you to hospice is uh huh towards your kind of fall.

Speaker Change #374: But since we're talking C G sync with target.

Speaker Change #374: So when you guys seem to time bin tips and getting Thunder.

Speaker Change #374: I would tell you timing huh.

Speaker Change #374: So you would see that in Iot that you're free.

Speaker Change #374: To go Crazy I'm, telling you the shawcor kind of women's and then doing that.

Susan: Sure Susan Retrofitting tool, so I want to say a piece, we've just seen good times.

Susan: Yeah.

Kewa Luo: So, first of all, we try to focus on our own development of new products, especially electric, you know, the pure electric, you know, off-road, and then the water sports, you know, products. We try not to compete with anyone but try to focus on our own, you know, Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group research and development into the new products of the pure electric water sports products, and hopefully, we can have more updates to share when we have more concrete developments. Are we talking wave runners here, like Polaris has, or are we just talking about motors for electric motors for fishing boats? What are we specifically talking about in water sports or both?

Susan: So first of all we try to focus on our own development of the new products, especially the.

Susan: The electric.

Susan: The Purion H right now.

Susan: Off road and then what exports.

Susan: Product.

Susan: Try not to compete with anyone but tried to focus on their own you know development.

Susan: As for the water sports primarily now in a ball cap you may see the sport yacht and yacht they are running in the gas.

Susan: Just noisy in May they were hurt the fishing the mpls so we try to.

Susan: Search and development into the new product of the pure electric water sports product and hopefully weekend have more update per share when you have more Congress development.

Speaker Change #378: Are we talking wave runners here.

Speaker Change #379: Polaris has or are we just talking like motors for electric motors for fishing boats, what are we specifically talking about motor sports or both.

I'm confident that once you sign something that sounds almost four cylinder.

Arthur Porcari: Can you talk about the product we talked about earlier? Alan, please translate this. I don't know which product he is talking about. Hi, Kewa.

Alan Leong: Yeah, Alan who signs out at all because of the high school.

Speaker Change #379:

Speaker Change #381: Continental Hunter that's yeah.

Speaker Change #381: Island.

Speaker Change #382: Hi, Corrado.

Kewa Luo: Hey, can you translate what he just asked? He said he was referring to what we refer to as... He wants to know what kind of products we are talking about. Whether it's fishing, personal swimming boats, speed boats, etc. Or maybe those bigger ones.

Speaker Change #382: Oh, all sorts of Hussein's I'll pass on that one as you thought possible.

Speaker Change #382: Well that's it.

Also I'm going to show a bunch as well.

Speaker Change #382: Okay.

And he said sounding so that you can pay back just to tell you that.

Speaker Change #382: So do you feel good in our salad kit.

Speaker Change #383: Quieting down, though what is your name Sir.

Speaker Change #383: It does seem that you know somebody said something about them just yet.

Kewa Luo: Do you have any ideas at the moment? Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group So, currently, we are focused on developing those water sports on a rather small scale like the fishing boat or the yacht for individuals, you know, a one-man, you know, yacht kind of scale of the product. That's our, you know, category of Powering D right now. I assume you mean by one man yacht wave runners or jet skis? Yeah, a rather jet-skied kind of battle.

Tom: Which element that I brought us tell you Tom.

Kewa Luo: Oh, that's great. It's super. Okay. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, [inaudible] Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group,,, Alan,?? Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, This is a motorboat; we call it a speedboat because there is a person sitting inside.

Tom: Hey.

Good.

Speaker Change #384: Hi, Pete.

Speaker Change #384: And getting them trained and doing that woman is for high rather than doing the deal.

Speaker Change #385: Uh huh.

Speaker Change #385: Finally ended up quite a bit.

Speaker Change #385: Yeah.

Speaker Change #385: So currently we are focused in the developing those are the what are the sports is rather small scale like the fishing boat or the yacht for individual one man.

Speaker Change #386: You've got kind of scale up that product.

Speaker Change #386: That's our category up in R&D right now.

Speaker Change #387: I assume you mean by one man yacht wave runners or a jetskis.

Speaker Change #388: Yeah, I'd, rather just keep kind of fell off.

Speaker Change #389: Oh, that's great that's super.

Speaker Change #388: Okay.

Speaker Change #390: Jacques decent Eagle East professionals, citing I'll do it she was telling me I'm part of home quiet Angel.

Speaker Change #390: It wasn't lost Telus itself sometimes.

Speaker Change #390: I'm going to go wrong at least.

Speaker Change #391: John Phillippe laser guns, and Michael would you Oh yeah.

Without chip ourselves be all be all.

Speaker Change #391: Without taller.

Speaker Change #391: Once you have the whole.

Speaker Change #391: Hum.

Speaker Change #391: Somehow.

Speaker Change #391: How far that's how suddenly just hustle and they don't Alan Schnitzer. He doesn't need online you don't quite hit my yeah.

Speaker Change #391: Yeah.

Speaker Change #391: And if I was sort of up a finding of course, you're penetrating them. All I can add maybe for your fantasy football in women's and unnecessary.

Speaker Change #391: And therefore that didn't mean that.

Speaker Change #391: <unk> don't want to put some fun in Java, so long as its financing doesn't Richardson.

Speaker Change #391: Yeah.

Speaker Change #392: Hmm How's it one visit the eventual nature normally.

Speaker Change #392: Not only does it at least.

Speaker Change #392: Sometimes that you know the leases the NATO they've also.

Speaker Change #392: Pleased to see some downside the clients.

Speaker Change #392: Okay.

Speaker Change #392: Figure out they've got jumbled watching woman's quieting myeloma piping system will ensure that.

Kewa Luo: He said this is a motorboat. They are riding on it. Two horses. We are innovative products. It's not much different from those. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, Unknown Attendee Okay. We'll go one in. We'll get back to you. Well, that would sound like a whole new product line, probably. Indeed, yeah, that's the new product we try to innovate, you know, for the market.

Speaker Change #392: How should I think of the mod watching what doesn't fit.

Speaker Change #392: I'm not sure. It was this time same time being connected to but I got it.

Mhm, so on to be more specific the Jessica you mentioned that the comments that we have in the market, but what we tried to do is I'd, rather not the jetski, but rather like kind of a speed boat or they got kind of haynesville, we can actually sit in there, but that's only for a one person's life.

Speaker Change #392: Is it clear so it's not really jetski, but rather the style of the boat or the speedboat.

Speaker Change #392: Kind of thing okay.

Speaker Change #393: Richard capacity.

Speaker Change #394: Oh that was it sounds like a whole new product line.

Speaker Change #395: Yes, that's right.

Speaker Change #395: The new product, we try to innovate you know could put it in.

Speaker Change #395: And then for the market correct, there's some of the new style Oh come on.

Kewa Luo: That's the new style, other than the common, you know, order sports product in the market right now. So it would probably be a patented situation like the mini was, that you released earlier this year. If you start, do we also have to have a patent?

Speaker Change #395: The sports product in the market right now.

So it would probably be a patented situation like the many ways that.

Speaker Change #396: You released earlier this year.

Speaker Change #397: Actually look when you talk to me when he takes hold on your part so as you say you'll do that.

Speaker Change #398: Yeah hopefully.

Kewa Luo: You know, this is our own patent. And that will be our own pattern. Right. Another one of our own patterns.

Speaker Change #399: No I think that's really a woman that's on me.

Speaker Change #398: Okay.

Speaker Change #398: That will be our own patents on pattern right.

Speaker Change #398: One of our own okay, I'm just about done here.

Arthur Porcari: Okay. I'm just about done here. You know, the potential for NFL collaboration. To me, it's just incredible.

Speaker Change #398: The potential is NFL collaboration to me is just incredible.

Arthur Porcari: You know, I can't imagine. Maybe you should take off a six-passenger golf cart and whack off the back seat in it and put a barbecue grill back there. People like doing that type of stuff at sports events in the United States over here.

Speaker Change #400: You know I can't imagine maybe you should take off a six passenger golf carton whack off the back seat and put an apartment to grill back there yeah.

Speaker Change #401: People liked like that doing that type of stuff at the sports events in the United States over here.

Arthur Porcari: But anyway, that's just a comment. So, let's see here. [inaudible] I guess the highlight of this was, I'm glad to hear that that 2025 estimate of $500 million is still a target of Kandi. Sorry about that. Don't... ... ... ... ... ... .., sorry about the phone ringing over here.

Speaker Change #398: But anyway.

Speaker Change #403: That's just a comment.

Speaker Change #398: So let's see here.

Speaker Change #398: Well.

Speaker Change #398: I guess the highlight of this was I'm glad to hear that that 2025 estimate of $500 million is still a target of candy.

Speaker Change #402: Uh huh.

Speaker Change #402: No.

Speaker Change #402: Sorry about this.

It's still.

Speaker Change #402: [music].

Speaker Change #404: I'm, sorry about the phone rang and over here anyway, as I said I think that the.

Arthur Porcari: Anyway, as I said, I think that that 500 million, 2025 number should make a dramatic difference in the stock price if we can just get the story out. Oh, one last question, too. You've mentioned that you're already in 10 more, 10 big box chains already, if I understood correctly earlier, correct? We only know about five, at least that I'm aware of. So at some point in time, will we be disclosed to the other five arcs?

Speaker Change #404: 500 million a.

Speaker Change #404: 2025 number.

Speaker Change #404: Should make a dramatic difference in the stock price.

Speaker Change #405: If we could just get the story out of one last question. Two you've mentioned majority in 10 more 10 10 big box changed already if I understood earlier.

Speaker Change #406: We only know about five.

Speaker Change #407: At least that I'm aware of.

Speaker Change #408: So at some point in time, when we'd be disclosed to the other five are.

Speaker Change #409: Okay talk I'm sure some of them do I have to ask Angela.

Arthur Porcari: Okay, he just said so much. He mainly said that he was very happy to see us working with AFL and Lowe's. He said that maybe we could get rid of the back row of the seven-seater golf cart and put a grill on top of it because, in the U.S., a lot of people like to drive out to do barbecues.

Speaker Change #410: Also possibly Thom the Dawson 10 dollar Mark on F. L. Hello, So that's a lot higher so I'm, okay with all of them and then they got social calls, which were the chance or the home would allow the pie not that had to do some of them found religion.

Speaker Change #410: Call culture, how do you manage that makes a lot of things on.

Speaker Change #410: Hum.

Speaker Change #410: Although now I'm glad you asked it so on so it's a cultural change that I shall call something that I just didn't know what he thought he might.

Arthur Porcari: This is just my opinion. In addition, he was also very happy to hear that the company is re-evaluating its $500 million revenue forecast for 2025. He felt that this would help the stock market's interest in our stock market and the stock price's growth. And on the last question, he said that he had heard that the company is now working with 10 large supermarket chains. As far as I know, there are 5 companies that have been directly or indirectly disclosed from the company.

Speaker Change #410: Hum also in Qingdao Goldsmith Thompson.

Speaker Change #410: And well go to eat molecule, so that Oh, yeah, sure Oh Gee, the population claims bonds with Alcoa Corp, how the social good.

Speaker Change #410: From uncle had school public ones, who are local palisson jar without some jobs also now hung with Hudson thousands of accomplishing that.

Speaker Change #411: So she is good youll sugar fashion does how sure yeah. That's what's the what's the why now what's what she bought that's Hong Kong.

Speaker Change #411: Keno Hill, taking absolutely Oh, yeah, well Lou my that goes through the yellow dots at Wuxi, New pillows glamour.

Speaker Change #411: Yes.

Speaker Change #412: Oh woman.

Arthur Porcari: Are there any other companies that are going to be disclosed? We have already started working together. Actually, you can see who we are working with on the SC website. Because there are big and small companies. For example, Lost, Costco, etc.

Speaker Change #412: That's all I can say around that.

<unk> commented all can say for sure, but anyway I figured you would.

Sure, maybe I'll ask that because the cloud, they're gonna want Mcdonalds Vandal kilo tons of Mega as shown in our women's you'll pay even Peter King who are you know of course through him into the shelves. So towards Roma Jean do you want me to stay on board watches that sounds I think Jonathan map.

Kewa Luo: Of course, we will not disclose them. But we may not even disclose the small ones. But in the future, because we used to do a lot of novel work in the past, in the future, we will always do this, including an increase in sales. We will disclose them. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, For now, we actually start working with more than 10 different retail partners at the moment, but the scale may vary. Some are larger, some are rather relatively smaller.

Speaker Change #413: Women toy poodle.

Speaker Change #413: <unk>.

Speaker Change #413: So those are the people that way.

Speaker Change #413: Okay.

Speaker Change #414: Hi, Mike.

Josh: Yeah Josh.

Mike: Beautiful now we enter start working with those 10 different or more than 10 different there.

Mike: Our retail partners at the moment, but then they are the scale will be varied. Some are larger some are rather a relatively smaller so we try not to disclose one by one badgley an hour can be a mega website.

Kewa Luo: So we try not to disclose one by one, but actually, on our Kandi America website, you can still see it on the vendor list and on the channel list. So for information, please check our website, and down the road, we will try to disclose such information like the search channel, the retail partners we have more frequently and in more detail. Thank you. Okay, well, thank you very much. I'm a little bit disappointed in the revenues this quarter, but you've done a big expansion, and there's a lot involved in getting this stuff to roll out. But this NFL thing sticks in my mind as being something very huge for the latter part of this year and in the future.

Can still see it on the vendor list I mean on the.

Mike: On the on the on the Generalists, so beautiful even Asia in place with our website.

Mike: Down the road.

Mike: I will try to disclose such information like the fed shadow the retail partners, who have more frequently and in more details.

Speaker Change #417: Thank you.

Speaker Change #418: Okay, well, thank you very much little bit disappointed in revenues this quarter, but you've done a big expansion.

Speaker Change #418: There's a lot involved in getting this stuff to roll out.

Speaker Change #418: NFL thing sticks in my mind as being something very huge.

Speaker Change #418: The latter part of this year and in future years, but other than that pretty good job. Thank you.

Arthur Porcari: But other than that, a pretty good job. Thank you. Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Group, There are no further questions at this time. I would like to turn the conference back over to management for closing. And thank you again for joining today's conference call. If you have any further questions, please don't hesitate to contact our IR, BlueShirt, at Gary@BlueShirtGroup.co, or you can contact us directly at IR@Kandigroup.com.

Speaker Change #419: I'm not sure I see only equate all at once you do that Chico's and.

Arthur Porcari: We look forward to updating you on our next earnings call. This concludes our call for today. Thank you very much. You may now all disconnect. www.youtube.com.uk www.facebook.com. The Ultimate Parody Site! BF-WATCH TV 2021, Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Kandi Tech Grp

Speaker Change #420: So her show, which I know you're doing a show on banks and I have gone through the thoughtful do the core Dallas for Honeywell someone's Gonna publisher and F. Alex and I should point out there that's a yeah. So certainly the answer here.

Speaker Change #419: Okay.

There are no further questions at this time I would like to turn the conference back over to management for closing remarks.

And thank you all again for joining today's conference call. If you have any further questions. Please don't hesitate to contact our IR blue shirt at Gary at Blue shirt group Dot C O or you can contact us directly at IR at Kandi Group Dotcom, we look forward to updating you.

Speaker Change #419: Our next earnings call. This concludes our call for today. Thank you very much you may now all disconnect.

Speaker Change #419: Okay.

Speaker Change #419: [music].

Speaker Change #421: Uh huh.

Speaker Change #421: [music].

Speaker Change #421: Okay.

Speaker Change #421: Hum.

Speaker Change #421: [music].