Q2 2024 Kandi Technologies Group Inc Earnings Call
Speaker Change: i
Operator: Technology, Second Quarter, 2024 Financial Results Call. This time, all participants are in listen-only mode. A question and answer session will follow the formal presentation.
Speaker Change: Greetings. Welcome to Candy Technology's second quarter 2024 financial results call. This time all participants are in listen-only mode. A question and answer session will follow the formal presentation.
Speaker Change: Technology Second Quarter 2024 Financial Results Call This time all participants are in listen-only mode.
Speaker Change: A question and answer session will follow the formal presentation.
Operator: If anyone should require operator assistance during the conference, please press star zero from your telephone keypad. Please note this conference is being recorded.
Speaker Change: If anyone should require operator assistance during the conference, please press star zero from your telephone keypad.
Speaker Change: Please note, this conference is being recorded.
Kewa Luo: At this time, I'll now turn the conference over to Kewa Luo. Kewa, you may begin.
Speaker Change: At this time, I'll now turn the conference over to Kewa Luo.
Speaker Change: Kewa, you may begin.
Kewa Luo: Thank you.
Speaker Change: Thank you.
Kewa Luo: Hello everyone. Thank you to discuss Kandi's results for the second quarter, 2024. Earlier today, we issued a press release covering the results. You can find a press release from a newswire service.
Kewa Luo: Please note that today's discussion will contain four working statements made under the safe hopper provisions of the U.S. Private Security Illudication Reform Act of 1995. Four looking statements involved in error risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. For the information regarding these and other risks and uncertainties is included in the company's public filings with the SEC. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law.
Speaker Change: Please note that today's discussion will contain forward looking statements made under the safe Harbor provision of the U S. Private security and litigation Reform Act of 1995 forward looking statements involve inherent risks and uncertainties as such the company's actual results may be materially.
Speaker Change: The difference from the expectations expressed today.
Speaker Change: Further information regarding these and other risks and uncertainties is included in the company's public filings, whereas the S E C.
Speaker Change: The company does not assume any obligation to update any forward looking statement, except as required under applicable law.
Kewa Luo: Additionally, unless otherwise stated, all figures mentioned during the conference call are in U.S. dollars.
Speaker Change: Additionally, unless otherwise stated.
Speaker Change: All figures mentioned during the conference call are in U S dollars.
Kewa Luo: Before we continue, I would like to introduce the team joining me on today's call. We have Mr. Xiaoming Hu, Chairman of the Board, Dr. Xie Qingdong, Chief Executive Officer, Mr. Allen Ling, Chief Financial Officer, and for the first time on our call, Mr. Johnny Tai, CEO of Kandi America, and Ms. Olin Rice, CEO of Norton Group. Dr. Dong will deliver his repairs remarks in Chinese, which I will then translate. Following that, we will have a Q&A session with Chairman Hu, Johnny, and Olin and CEO to answer.
Speaker Change: Hello, everyone.
Speaker Change: Before we continue I would like to introduce the team joining me on today's call. We have Mr. Zhao Ming Hu chairman of the board Dr.
Speaker Change: Doctors shaking Dong Chief Executive Officer.
Speaker Change: Mr. Alan Levin, Chief Financial Officer.
Speaker Change: For the first time on our call Mr. Johnny tie the I'll ask Kandy America.
Speaker Change: And Mr. Nolan Rice CEO of Norfolk group.
Speaker Change: Dr. Don will deliver his prepared remarks in Chinese, which I will then translate following that we will have a Q&A session with GMO, who Johnny and Olin.
Speaker Change: And steel to answer.
Speaker Change: Yeah.
Kewa Luo: Now, let us start with brief greetings from each of our executives.
Speaker Change: Thank you all for joining us today's conference call to discuss Kandi's results for the second quarter 2024.
Speaker Change: Now, let us start with brief screenings from each of our executives.
Speaker Change: Uh huh.
Johnny: I'm definitely end up what are your views on what's up we got me.
Xiaoming Hu: Hello, this is Hu Xiaoming. Thank you for joining us today.
Speaker Change: Hello, This is who shall me.
Speaker Change: Thank you for joining us today.
Speaker Change: I don't know for sure.
Speaker Change: So we thought that things, helping us do that.
Xie Qingdong: Hello, everyone. I'm Xi Qingdong. I'm pleased to share our progress with you shortly today.
Speaker Change: Hello, everyone I'm shifting Don I'm pleased to share our progress with you shortly today.
Speaker Change: Good morning, everyone and Hello, everyone. This is Alan Lim Thank you for joining us.
Allen Ling: Good morning, everyone, and hello, everyone. This is Allen Ling. Thank you for joining us.
Speaker Change: Okay.
Johnny Tai: Hi, everyone. It's Johnny. Good to be here with you.
Speaker Change: Hi, everyone. It's Johnny good to be here with you.
Speaker Change: Yeah.
Olin Rice: Good morning, everyone. This is Olin, and I'm excited to join the discussion today for the very first time.
Speaker Change: Good morning, everyone. This is olin and I'm excited to join the discussion today.
Speaker Change: First time.
Kewa Luo: Thanks, everyone.
Speaker Change: Thanks to everyone with that let me now turn the call over to our CEO Doctor switching Dol to share our Q2 performance Dr. Don. Please go ahead.
Xie Qingdong: With that, let me now turn the call over to our CEO. Dr. Hu Xiaqing Dong, to share our Q2 performance. Dr. Dong, please go ahead.
Speaker Change: I think the point that are conducting in a duopoly Oh my gosh. It sounds like definitely box cut as John said, we ought to do with again the issue with Genesis.
Jonathan: But in general this is Jonathan function through bad it's Rami.
Chantal: Chantal French anyway me and sitting down a path of this about and Joe.
Xie Qingdong: Thank you again, welcome to today's conference call. We are pleased to report that Kandi Tech Technologies continued its strong growth trajectory in the second quarter of 2024. We achieved total revenue of $39.1 million, up 8.9% from $36 million in the same period of 2023. The primary growth driver was our electric off-road vehicles and associated parts, with sales revenue increasing by 11.3% to $34.7 million. We made significant progress in our U.S. market expansion, with a launch of new product lines injecting new energy into the market. Additionally, through our exclusive partnership with Lowe, the officially licensed NSL team golf parts will be launched in the U.S.
Speaker Change: It's not only lets say you shouldn't get little Cleveland I'm sure. There's somebody puts you in a social shuttle won't be seeking some not all.
Speaker Change: Turning to the balance sheet.
Speaker Change: Sure.
Speaker Change: Earlier today, we issued a press release covering the results. You can find the press release, from the Newswire Service.
Speaker Change: Again welcome to today's conference call. We are pleased to report that Kandi technologies continued its strong growth trajectory in the second quarter of 'twenty 'twenty four we achieved total revenue of $39 1 million up eight 9% from 36 million in the same.
Speaker Change: Please note that today's discussion will contain forward-looking statements made under the safe harbor provisions of the U.S.
Speaker Change: Private Security Litigation Reform Act of 1995.
Speaker Change: Period of 'twenty 'twenty Sui.
Speaker Change: The primary growth driver was all it was our all electric offer all vehicles and associated parts with sales revenue increasing by 11 bluntly percent. She was $34 7 million.
Speaker Change: Well then thank you.
Speaker Change: She was on the quarter and treat us switching.
Speaker Change: Since I'm gonna truthful with Saddam food I shouldn't.
Speaker Change: Is it also when we talk about Lucerne two decimals.
Speaker Change: And nothing else it could be about golf, which was hurricane citizens.
Speaker Change: Obama.
Speaker Change: So the times journalism, Fortunately you would show me.
Speaker Change: She has two months excuse me enough answer that's actually come on to your children.
Speaker Change: Sure.
Speaker Change: We made significant progress in our U S market expansion with the launch of new product lines injecting new energy into the market. Additionally, so our exclusive partnership with Lowe's, but all socially license the N F L team golf carts.
Speaker Change: Forward-looking statements involve inherent risks and uncertainty. 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 SEC.
Speaker Change: The company does not assume any obligation to update any forward-looking statements, except as required under applicable law.
Speaker Change: Additionally, unless otherwise stated.
Speaker Change: Well be launched in the U S. Starting from the end of August this showcases our innovation and offers fence and eco friendly way to show the a team pride.
Xie Qingdong: starting from the end of August. This showcases our innovation and offers fans an eco-friendly way to show their team pride. Our financial position remains strong with cash and cash equivalent, restricted cash, short 2024.
Speaker Change: Thanks.
Speaker Change: Thank you to Paul Chung Chairman, Sheila I would.
Speaker Change: It's not really a central hall shifting to Shenzhen so since that.
Speaker Change: Sure.
Speaker Change: Drink one from the audience.
Speaker Change: Judy will either you sweat well my T. J will go if they go with you what we called out there was that she wants and you bought back two or three weeks ago.
Speaker Change: Okay, Oh Omega. Please you talked to shallow woman to of course with our thoughts on the citizens being young woman seats, you certainly would reach out to the citizens in North Carolina.
Speaker Change: Our financial position remains strong with cash and cash equivalents restricted cash and short term investments and certificates of deposit totaling $219 6 million as of June 30, 'twenty 'twenty four we actively executing our share repurchase.
Speaker Change: All figures mentioned during the conference call are in U.S. dollars.
Speaker Change: Before we continue, I would like to introduce the team joining me on today's call.
Xie Qingdong: We actively excluded our share repurchase program, buying back 673,896 shares at an average price of $2.25 per share, reflecting our confidence in the company's future and our commitment to enhancing shareholder buy.
Speaker Change: Oh, Glenn buying back 673896 shares at an average price of $2.25 per share, reflecting our confidence in the company's future and our commitment to enhancing shareholder value.
Speaker Change: Thank you for that for me as well.
Speaker Change: What is that going.
Speaker Change: I'm going to turn Kindle Milky way for the last few years.
Davidson.
Speaker Change: This is all put them closer well once I got all your credit for the economy.
Speaker Change: People put out a one what's your slot.
Speaker Change: We have Mr. Xiaoming Hu, Chairman of the Board.
Xie Qingdong: In the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in the past, in and from an outside article we now see that a second version is a side-by-side E-10K cowboy called the innovator E-10K along with the new $19,000 electric off-road vehicle called the Lucky 9.
Speaker Change: So long way that well Mcdonald tissue trying to pencil you called out one of timing.
Speaker Change: So this is all Fuji cause this does that mean.
Maybe people would've been cool what's Fisher.
Speaker Change: This was I'll call them that you don't have that sends off.
Speaker Change: Cool.
Speaker Change: On the global from when they significant strides, including securing E. C certification for our 10-K, all electric or U T V paving the way for entry into the European Union market in parallel we have also opened up new markets for Kandi.
Products in Asia.
Speaker Change: Further expanding our international market share looking ahead, we remain focused on expanding our product portfolio and our market presence, particularly in the U S and European markets driving future growth through continued product innovation and market expansion.
Speaker Change: Dr. Xueqin Dong, Chief Executive Office.
Speaker Change: Okay.
Speaker Change: That's exactly what happened here.
Speaker Change: Uh huh.
Speaker Change: I was thinking Oh Jordan.
Jordan.
Speaker Change: Correct me if I'm kidding.
Speaker Change: So youll see some jump without that.
Cool.
Speaker Change: I mean, Jason whether you want it wouldnt be doing fine.
Speaker Change: Please go ahead.
Speaker Change: Yeah.
Speaker Change: Now I will we will move on to the Q&A session together with the channel who sell me Johnny tie seal off Candy America, and Alder Rice yields Northern group I will answer your questions Ms <unk> and Mr. Al Lang will provide translation for English questions. Please.
Speaker Change: Mr. Alan Ling, Chief Financial Officer.
Speaker Change: And for the first time on our call, Mr. Johnny Tai, CEO of Kandi America, and Mr. Olin Rice, CEO of Northern Group.
Speaker Change: Go ahead and ask your question.
Speaker Change: Dr. Dong will deliver his prepared remarks in Chinese, which I will then translate.
Speaker Change: Operator, Please go ahead.
Speaker Change: Following that, we will have a Q&A session, with Chairman Hu, Johnny, and Olin, and CEO to answer.
Thank you.
Speaker Change: Now, let us start with brief greetings from each of our executives.
Speaker Change: If you'd like to ask a question at this time. Please press star one on your telephone keypad and a confirmation tone will indicate your line is in the question queue.
Speaker Change: 大家好,感谢大家参加今天的会议,我是胡小明。 Hello, this is Xiaoming Hu. Thank you for joining us today.
Speaker Change: You May press Star two if you like to remove your question from the queue.
Speaker Change: 大家好,我是董崛秦,很高興稍後與大家分享我們的進展, Hello, everyone.
Speaker Change: For participants using speaker equipment may be necessary to pick up your handset before pressing the star keys.
Speaker Change: I'm Xueqin Dong.
Speaker Change: One moment, please while we poll for questions. Once again that is star one.
Speaker Change: I'm pleased to share our progress with you shortly today.
Speaker Change: Thank you.
Speaker Change: Thank you and our first question will be from the line of Joel Kramer with private investor.
Speaker Change: Good morning everyone and hello everyone.
Speaker Change: This is Alan Lim.
Speaker Change: Please proceed with your question.
Speaker Change: Thank you for joining us.
Speaker Change: Thank you this is regarding new products.
Speaker Change: Hi everyone, it's Johnny.
Speaker Change: The Q1 P. R. C E O stay the moving forward, we will launch new starter batteries as well as a variety of more competitors.
Speaker Change: Good to be here with you.
Speaker Change: All electric off road vehicle products and electric water sports products.
Also from our press release, we learned of Candy now selling its own branded lithium double a rechargeable batteries.
Speaker Change: Good morning, everyone.
Speaker Change: Go ahead.
Speaker Change: Thank you and you don't want to issue a banking company that sounds like it'll be easy with the human capital in that box you see all your gel in Philadelphia them I mean, I always helps each book. So you don't integrate he goes on to your team tells me that one the adult phase of hunting, but kindle, especially telling them don't chanting Savannah pokemon causal yeah.
Speaker Change: This is Olin, and I'm excited to join the discussion today.
Speaker Change: Thanks everyone.
Speaker Change: It's all come you can't that think they sell a cheap.
Speaker Change: Three option idling tuned yet.
Speaker Change: Try again shake I've, only PMI downhole, well my head kind all county, tweak looping me I E.
Speaker Change: Cowboy, but Dr golf on but mainly innovator eshop H E plant shallow showed yeah.
Speaker Change: You've answered with Jimmy anything beyond don't seek old truck.
Speaker Change: Lucky.
Speaker Change: Go ahead.
Speaker Change: With that, let me now turn the call over to our CEO, Dr. Xueqin Dong to share our Q2 performance.
Speaker Change: And from an outside article we now see that a second version of the side by side.
Speaker Change: Yes.
cowboy: Okay cowboy called the innovator.
cowboy: E 10-K, along with the new $19000 electric off road vehicle called the Lucky nine.
Unknown Attendee: A few questions I have the F. First, could you please explain what sort of batteries are and how big the market could be? Go ahead. Okay.
Speaker Change: Few questions I have.
cowboy: First.
Speaker Change: Could you please explain what Florida batteries are and how big the market could be.
cowboy: Go ahead.
Speaker Change: Dr. Dong, please go ahead.
Speaker Change: And Pat do you want to know shouldn't loves to work yet she was asking them. If you don't get yet downtown Chicago I'm Gonna have a bloodbath.
Speaker Change: Okay.
Speaker Change: So you won't answer to this.
Speaker Change: You shouldn't see it on the same day.
Speaker Change: So what else is frankly more of our country.
Speaker Change: People in this issue.
Speaker Change: And to ensure she says you don't get this was under some sort of thought on that.
Speaker Change: Sure.
Yeah, let me be used at all.
Joe: Chile was it Joe.
Speaker Change: I'm on the antidote.
Speaker Change: Nearly 500%.
Kathryn Zach: Kathryn Zach.
Kathryn Zach: Yes.
Speaker Change: Okay. This docket that refers to the particular bathroom. It used to start the vehicle. We are still in the raw that early stage of the R. A D and we are conducting market research. According to the information you know are available the Globo automated started battery market.
Speaker Change: 再次欢迎大家参加今天的电话会议,我们很高兴地向大家汇报。 康迪集團在第二季度的表現 延續了穩健的增長 本季度我們實現了總收入3910萬美元 較去年同期的3600萬美元增長了8.9% 主要的增長動力來自於純電動非公路車和相關零部件的銷售收入 同比增長了11.3% 達到了3470萬美元, Again, welcome to today's conference call.
Unknown Executive: The start of battery refers to the particular battery used to stop the battery. We are still in a rather early stage of the RID, and we are conducting the market research. According to the information available, the global automotive started battery market so it was reached the RMB 1503 billion in 2003 and expected to reach RMB 206 billion by 2030 with a compound and a growth rate of roughly 3.3%.
Speaker Change: We are pleased to report that Kandi Technologies continued its strong growth trajectory in the second quarter of 2024. We achieved total revenue of $39.1 million, up 8.9% from $36 million in the same period of 2023. The primary growth driver was our all-electric off-road vehicles and associated parts, with sales revenue increasing by 11.3% to $34.7 million.
Speaker Change: 我們在美國市場的擴展取得了顯著進步, 与此同时,我们通过与Lowes的独家合作,8月底开始,NFL授权的特别版高尔夫球车将正式投放美国。 这展现了我们的创新能力,也为球迷提供了一种环保且充满激情的方式来展示他们对球队的热爱。 We made significant progress in our U.S. market expansion, with the launch of new product lines injecting new energy into the market. Additionally, through our exclusive partnership with Lowe's, the officially licensed NFL team golf cards will be launched in the US starting from the end of August. This showcases our innovation and offers fans an eco-friendly way to show their team pride.
Speaker Change: 我们在本季度保持了强劲的财务状态, 截止到6月30號,現金及現金等家物,售現現金,短期投資及存款總額達到2.196億美元。 股票回購計劃回購了六十七萬三千八百九十六筆, 每股2.25倍 这一举措体现了我们对公司未来发展的信心,并表明了我们致力于提升股东价值的坚定信心。 Our financial position remains strong, with cash and cash equivalents, restricted cash, short-term investments, and certificates of deposit totaling $219.6 million as of June 30, 2024. We actively executed our share repurchase program, buying back 673,896 at an average price of $2.25 per share, reflecting our confidence in the company's future and our commitment to enhancing shareholder value.
Speaker Change: It was reached the RMB.
Speaker Change: Our M B 150 of free Bill.
Speaker Change: Bill in 'twenty.
Speaker Change: <unk> hundred three and is expected to reach I wouldn't be too.
Speaker Change: 290, 206 billion by 2030, we have had a compounded annual growth rate of roughly three 3%.
Speaker Change: 在全球擴展方面,我們取得了顯著進展。 10K純電動UTV獲得了EEC認證,為進入歐盟市場鋪平了道路。 同時,我們在亞洲也開拓了抗體產品的市場,進一步擴大了我們的國際市場份額。 展望未來,我們將繼續專注於擴展我們的產品組合和市場。 特别是在美国和欧洲市场的进一步扩展,并通过持续的产品创新和市场拓展来驱动未来的增长。 On the global front, we made significant strides, including securing EEC certification for our 10K all-electric UTV, paving the way for entry into the European Union market. In parallel, we have also opened up new markets for Kandi products in Asia. Further expanding our international market share.
Unknown Executive: Thank you.
Speaker Change: Thank you.
Speaker Change: Looking ahead, we remain focused on expanding our product portfolio and the market presence, particularly in the U.S. and European markets, driving future growth through continued product innovation and market expansion.
Unknown Attendee: The next two other questions.
Speaker Change: The next two other questions what would be the competitive all electric off road vehicle and the water sports product from the press release.
Unknown Attendee: What would be the competitive all electric off-road vehicle and the water sports product from the press release?
Unknown Attendee: And will Kandi soon be offering 3A along with the AA with the batteries, and can these batteries use any size compatible charger, where it must be a specific branded charger?
Speaker Change: And we will soon be offering.
Speaker Change: Three a along with the double a batteries.
Speaker Change: And these batteries use any size compatible charger for it must be a specific.
Speaker Change: The charger.
Unknown Executive: Thank you.
Speaker Change: Can be drawn.
Okay, but dominant Keith Hi, Sheila So she went down to one meet all the children don't eat at home and don't think on Australia, especially Sean Ian don't hunting Chi Chi I shut my remarks.
Speaker Change: 那么现在开始问答环节 我和胡小明董事长 以及SC公司的CEO Johnny Huang, 和北方集团公司CEO Olen一起将回答大家提出的问题。 柯娃和林志明先生会对英文的问题提供翻译。 请大家开始提问吧。 Now we will move on to the Q&A session.
Unknown Attendee: The next two questions are questions. What is the standard electric off-road vehicle and water sports product? What is the standard electric off-road vehicle and water sports product from the press release? The standard electric off-road vehicle and water sports product from the press release?
Speaker Change: We might as well Chicago Shovelhead twitchell.
Speaker Change: You'll have found 80 again sure.
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Speaker Change: So that's one thing I will say without the Isa.
Speaker Change: So when when she went got drones to change any of those and getting the people in China. So that's the woman she's either Ut rate theory scorecard could call for children.
Speaker Change: Fishy.
Unknown Executive: Let's take a look at the first question. The second question is related to the A&A and the A&A. The A&A is the core of the United States. The A&A is the core.
Speaker Change: Well most of the street some of those hurricanes to this conversation.
Speaker Change: Uh huh.
Speaker Change: So the Eagle and.
Speaker Change: Doug I wanted to ask why don't you take the agents into.
Speaker Change: Into that.
Speaker Change: Women piece of that.
Speaker Change: So we had a trust in my voice is only good precision from which channel.
Speaker Change: Italy is a true single chemo drug holiday parties, who it is and let's see how strategic it is not only okay. It seems that it is is there something from a downstream.
Speaker Change: The woman that we can.
Speaker Change: So Jim I'm sure absolutely.
Speaker Change: Congress your medicine.
Speaker Change: Oh I see.
Speaker Change: Yeah.
Speaker Change: Together with Chairman Hu Xiaoming, Johnny Tai, CEO of Kandi America, and Olin Rice, CEO of Northern Group, I will answer your questions.
Speaker Change: Ms. Kewa and Mr. Alan Ling will provide translation for English questions.
Speaker Change: Oh, So first of all let me I'll answer the first questions you know with the modest you'd mentioned those are related to our upcoming products in the future that we have to do.
Speaker Change: Element.
Speaker Change: We expanded into the U T V and what are the sports category and there'll be more product subscription and you don't see the future.
Speaker Change: So got the competitive electric off highway vehicles mentioned in the press release referred to the newest generation of like that you have T V. A T V go cod and the Gulf cut borders wherever it's though what is sports products referred to with the innovative single passenger electric Jessica.
Speaker Change: And then as to what the second questions well. So basically we launched the AA batteries to test the visibility of the U S market. We have some and this was the first ever consider launch into a a a batteries in the future.
Speaker Change: Please go ahead and ask your question.
Speaker Change: As for when to launch the AA batteries it depends on how well the AA batteries.
Speaker Change: Better performance in the market.
Our AA batteries are compatible with all the charges and they are not limited to conquer the candied branded charges all vehicles.
Speaker Change: Okay.
Speaker Change: Thank you and the next.
Speaker Change: Question is what is the difference between the E N K innovator.
And the insight E N K L boy.
Speaker Change: When would you expect them to be cleared for sale in Texas as a whole.
Speaker Change: I N of Kansas Closets at $19000, what market does the lucky nine address.
Speaker Change: And lastly.
Speaker Change: Several years ago and he had.
Speaker Change: And then they can scale gas.
Speaker Change: Right motorcycle very similar as it allows spider.
Speaker Change: Two wheels in the front one in the back.
Speaker Change: It would seem that it could be a big seller for older bike or one of these and any thoughts about and they bringing an electric drive wears out.
Speaker Change: And any new vehicles expected to be released this year.
Speaker Change: Operator, please go ahead.
Go ahead.
Speaker Change: Yeah.
Speaker Change: Yeah I just wanted to ask you why you should pay the elevator.
Speaker Change: Ingo later, but you should pay the Cowboys once UBS uneasy Joseph J <unk> I'm sure sure Moshe hauling onsite and.
So Joel for their social Shoe club House yourself show, a salvage Nigel quotes or a county that Goldman School Lucky.
Speaker Change: Teach you all are.
Speaker Change:
Speaker Change: Sure sure.
Speaker Change: T K.
Speaker Change: Sure.
Unknown Attendee: I'm sorry, can you repeat your second question about Lucky T9? Yeah, the guess strike. Is that you had that years ago in your line, it was similar to the Polaris fighter? No, no, the second question, the third question you said is the high-end vehicle Lucky T9?
Speaker Change: I'm sorry can you repeat your second question about Lucky TNI.
Speaker Change: Yeah.
Yes right.
Speaker Change: Is that.
Speaker Change: You add that.
Speaker Change: Years ago and you're in line.
Speaker Change: Similar to the Polaris fighter.
Speaker Change: Second question. The second question, you'll set of stuff.
Speaker Change: High end vehicle.
Technology, Second Quarter, 2024 Financial Results Call. This time, all participants are in listen only mode.
Operator: Technology, Second Quarter, 2024 Financial Results Call. This time, all participants are in listen only mode. A question and answer session will follow the formal presentation.
Speaker Change: Yeah, Yeah, I I can these products at $19000 what market does still lucky nine dress.
A question and answer session will follow the formal presentation.
Operator: Thistimeallparticipantsareinlisten-onlymode.
Speaker Change: If anyone should require operator assistance during the conference, please press star zero from your telephone keypad.
Operator: If anyone should require operator assistance during the conference, please press star zero from your telephone keypad. Please note this conference is being recorded.
Operator: Aquestionandanswersessionwillfollowtheformalpresentation.
Johnny Tai: SoIthinkthatwecarefullyreviewedthemarket,andthenalsowedetermined,youknow,howmanystores,howmanyinventorywewouldliketo,youknow,bringin.
Arthur Porcari: Inlessthanayear,Lowe'shastotallydumpedColemanoutofthepicture,wentdirectlytoCandy,pickedupCandy'sownbrandedgolfcarts,theindustry'syoungestbrand,andastheirsolegolfcartsupplier. Andexclusivelynowshowmorethan80variationsofCandycartsontheirwebportal.
Speaker Change: Okay. Thank you have you out when he was just only come to you like all the onshore Lucky teacher did on trying to control. My you want you can enjoy that'd be about Florida, shortly I'm doing a shithouse or something yeah honestly.
Operator: Ifanyoneshouldrequireoperatorassistanceduringtheconference,pleasepressstarzerofromyourtelephonekeypad.
Speaker Change: Please note this conference is being recorded.
Speaker Change: At this time, I'll now turn the conference over to Kewa Luo.
Kewa Luo: At this time, I'll now turn the conference over to Kewa Luo. Kewa, you may begin. Thank you. Hello everyone. Thank you to discuss Kandi's results for the second quarter, 2024. Earlier today, we issued a press release covering the results. You can find a press release from a newswire services. Please note that today's discussion will contain four working statements made under the safe hopper provisions of the U.S. Private Security Illudication Reform Act of 1995.
Operator: Pleasenotethisconferenceisbeingrecorded.
Kewa Luo: Kewa, you may begin.
Kewa Luo: Atthistime,I'llnowturntheconferenceovertoKewaLuo.
Speaker Change: I hope to hold them teenagers, yeah, sure say, Oh, and one N T. I'm Cornioley Quant Shiel Shiel ship do you need that got them to sell them more towards them.
Unknown Attendee: Yeah, high end candy I mean, in many years ago, there was a 90-year-old man riding the Polaris fighter who was riding the Polaris fighter very similar time ago. Do you think that the third question was there any news about Lucky T9?
Kewa Luo: Kewa,youmaybegin.
Speaker Change: Thank you.
Kewa Luo: Thankyou.
Olin Rice: SoIthinkthat's,youknow,westillhavealotof,youknow,discussiongoingonwithLowe's,andOlin,wouldyouliketoweighin?
Arthur Porcari: Justcheckedthattheotherday.
Speaker Change: Hello everyone.
Speaker Change: Talos rollout E plus late stages in spite of feed her answer him in Oh like Twitch will take questions.
Olin Rice: Olin?
Arthur Porcari: Justamazing.
Speaker Change: Thank you to discuss Kandi's results for the second quarter, 2024.
Speaker Change: Seven biological Shuffle way you all are.
Olin Rice: Yes,Iwasunmuting.
Speaker Change: T G I, Joe that you don't sell Philippines, EBIT to Troy Youll, Shanghai, you'll husky.
Unknown Executive: What is your plan for this car?
Speaker Change: Yeah.
Kewa Luo: Four looking statements involved in error risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. For the information regarding these and other risks and uncertainties is included in the company's public filings with the SEC. The company does not assume any obligation to update any forward looking statements, except as required under applicable law. Additionally, unless otherwise stated, all figures mentioned during the conference call are in U.S, dollars.
Speaker Change: Hum.
Unknown Executive: I'll answer the first question. From the perspective of the United States, in a vehicle and co-boy, two U.T.V. is the same company. In a vehicle, the car is the same as the previous one. In order to target different customer groups, that's pretty much the crust of it. The innovator, as you may know, has a more fashionable appearance and tends to attract the community with the better outlook, whereas the car boy has an outdoor style and is tailored for hunters and off-road vehicle users. Our goal is to expand the market for various vehicles.
Speaker Change: Uh huh.
Mr. Kennedy: So Mr. Kennedy.
Mr. Kennedy: If we go to talk to.
Speaker Change: Her co boy.
Speaker Change: In two weeks I.
Speaker Change: I'm afraid I'm going to see us as someone who's on the Cheviot I Hope, we'll go to Cuba.
Speaker Change #100: You know we thought even though this is only like one one overseas so it shouldn't move up.
Speaker Change #101: I'm a coup what.
Huawei phones.
Speaker Change #102: Our truecar strongly so many lives.
Speaker Change #102: Sometimes though I.
Speaker Change #102: I don't know when it will be also quite good.
Speaker Change #102: These are usually shipping.
Kewa Luo: Earlier today, we issued a press release covering the results.
Kewa Luo: Before we continue, I would like to introduce the team joining me on today's call. We have Mr. Xiaoming Hu, Chairman of the board, Dr. Xie Qingdong, Chief Executive Officer, Mr. Allen Ling, Chief Financial Officer, and for the first time on our call, Mr. Johnny Tai, CEO of Kandi America, and Ms. Olin Rice, CEO of Norton Group.
Speaker Change #102: Kathy.
Anyway cool blast, so we understand Lewis with social.
Olin Rice: Canyouguyshearme?
Speaker Change: You can find a press release from a newswire services.
Uh huh.
Speaker Change #102: Great.
Joseph: Costco Com Joseph.
Olin Rice: Yes.
Arthur Porcari: 首先他说非常高兴今天能够听到康迪美国的管理层Johnny和Olan上线在好几年前2021年我有幸被邀请到康迪美国的德州的参加他们K23的产品仪式Johnny是一个很能干很有业务能力的也非常高兴看到康迪今天能够取得这样的成就我的第一个问题是关于Los的几个相关问题康迪和Los看得出来这个关系是非同一般的从Los对康迪源源不断的支持就能够注意到尽管康迪仅在两年前才进入高尔夫球车的市场但是Los却几个月内就选择康迪我们大家也知道康迪之前是通过跟Coleman合作来卖高尔夫球车的但不到一年就直接跨过Coleman和Los合作了而且还将康迪这一行业内最年轻的品牌纳入了他们的高尔夫球车的产品线Los成为唯一的高尔夫球车供应商请继续好的请等我一下先说一下这个故事然后我还有几个问题几个月后Los就赔了100亿美元为了恢复和延伸它们的四年关系为了获得Los的正式家庭团队赞助获得了国家高尔夫球队的赞助获得了NFL赞助的高尔夫球车事实上这是Los在国际上售出的唯一的高尔夫球车而不是带入任何一个高尔夫球车产品的高尔夫球员他们会想要得到这份赞助他们拿了估计最大的风险选择了新生的康迪加上他们的名声加上他们赔了100亿美元请继续我还有几个问题请继续再次感謝歐倫的參與。在管理層的意見中,為何Lowe's選擇了Kandi?
Joseph: Oh sure sure.
Joseph: Okay.
Joseph: So as for the question, Chris when they're in a wait and cowboy.
Speaker Change #104: Bumped up or that specific patient perspective, they are pretty much under cemp here. It says the two more of those they have different style and outlook.
Speaker Change #105: And if you started to target different customer groups and that's pretty much the the crux of it.
Speaker Change: Please note that today's discussion will contain four working statements made under the safe hopper provisions of the U.S.
Kewa Luo: Dr. Dong will deliver his repairs remarks in Chinese, which I will then translate. Following that, we will have a Q&A session with Chairman Hu, Johnny, and Olin and CEO to answer.
In Nevada as you May know has some more fashion appearance and tenants they try to community, how we could better outlook, whereas the cowboy has always thought style and is tailored for hunters and off road vehicle uses our goal is to expand the market for very long.
Speaker Change: Private Security Illudication Reform Act of 1995.
Xiaoming Hu: Now, let us start with brief greetings from each of our executives. Hello, this is Hu Xiaoming. Thank you for joining us today. Hello, everyone. I'm Xi Qingdong. I'm pleased to share our progress with you shortly today. Good morning, everyone, and hello, everyone. This is Allen Ling. Thank you for joining us. Hi, everyone. It's Johnny. Good to be here with you. Good morning, everyone. This is Olin, and I'm excited to join the discussion today for the very first time. Thanks, everyone.
Speaker Change #105: So that's that.
Unknown Executive: In that vision, how far if many so-in-loads or if the innovator will be so in hardcore in the near future?
Speaker Change #106: And in that decision Oh boy, if maybe it's still in Lowe's Arista in the data will be sold in Costco in the near future. Thank you.
Unknown Executive: Thank you.
Speaker Change #105: Yes.
Speaker Change #105: Okay.
Speaker Change #107: No I wouldn't change that.
Kewa Luo: Hello,everyone.
Unknown Executive: The second question is about Lucky T9, which is $1,000. What kind of sales market is this? This product, as you may know, is outdoor. The market is really for those outdoor and sports fans in the market. As for the models you mentioned in the past, those are the old models in our line, and we keep innovating and producing more up-to-date vehicles that match the target in the customers' segment market. But right now we focus on the larger outdoor off-hival vehicle.
Speaker Change #107: Lisa.
Speaker Change #108: And how do you when you saw them and then they go out and called Entre Lucky teach you how to fill in on my I see your lines your passionate talented contour.
Speaker Change #109: Thought jeez I saw agenda xiaomi on the social Shanghai Qingdao Nanjing.
Speaker Change #108: Okay.
Kewa Luo: Thankyouallforjoiningustoday'sconferencecalltodiscussKandi'sresultsforthesecondquarter2024. Earliertoday,weissuedapressreleasecoveringtheresults. Youcanfindthepressreleasefromthenewswireservices. Pleasenotethattoday'sdiscussionwillcontainforward-lookingstatementsmadeunderthesafeharborprovisionsoftheU.S.
Speaker Change #108: Yeah.
Speaker Change #108: Yeah.
Kewa Luo: PrivateSecurityLitigationReformActof1995.
Speaker Change #110: No that's it.
T J I don't want him to join US for your fine English in the southern true.
Kewa Luo: Forward-lookingstatementsinvolveinherentrisksanduncertainties. Assuch,thecompany'sactualresultsmaybemateriallydifferentfromtheexpectationsexpressedtoday. Furtherinformationregardingtheseandotherrisksanduncertaintiesisincludedinthecompany'spublicfilingswiththeSEC. Thecompanydoesnotassumeanyobligationtoupdateanyforward-lookingstatementsexceptasrequiredunderapplicablelaw. Additionally,unlessotherwisestated,allfiguresmentionedduringtheconferencecallareinU.S, dollars.
Speaker Change #110: She says she does so just what are you Gonna shipyard Qi Jong.
Kewa Luo: Beforewecontinue,Iwouldliketointroducetheteamjoiningmeontoday'scall.
Speaker Change #111: As I was saying gosh isn't a mosquito speak English.
Speaker Change: Four looking statements involved in error risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today. For the information regarding these and other risks and uncertainties is included in the company's public filings with the SEC.
Kewa Luo: With that, let me now turn the call over to our CEO.
Speaker Change #110: Hi.
Kewa Luo: WehaveMr.
Speaker Change #110: Is that answer wasn't Hudson did ishares, Susan Riel for Josh.
Xie Qingdong: Dr. Hu Xiaqing Dong, to share our Q2 performance. Dr. Dong, please go ahead.
Kewa Luo: XiaomingHu,ChairmanoftheBoard,Dr.
Olin Rice: So,toJohnny'spoint,weareinweekly,severaltimesaweek,conversationswiththeLowe'steam.
Holger: Holger either Theta James.
Allison: Yes Allison.
Kewa Luo: XueqinDong,ChiefExecutiveOfficer,Mr.
Allison: Okay.
Kewa Luo: AlanLing,ChiefFinancialOfficer,andforthefirsttimeonourcall,Mr.
Olin Rice: So,asitrelatesspecificallytotheNFL,youknow,we'reinapositionwherewe'vegotalotofeveryoneexcitedabouttheNFL,Lowe's,andobviouslyourteamattheend.
Olin Rice: 你已經說過,Kandi是為了剩下的三年Lowe's的NFL協議。我認為你已經同意了。在你的意見中,為何Lowe's選擇了Kandi?
Allison: So this product.
Speaker Change #114: Ah as you May know is a outdoor sports strike.
Speaker Change #114: The market is really for those are the outdoor and sports fans in the market.
Speaker Change: The company does not assume any obligation to update any forward looking statements, except as required under applicable law.
Xie Qingdong: Thank you Again, welcome to today's conference call. We are pleased to report that Kandi Tech Technologies continued its strong growth trajectory in the second quarter of 2024. We achieved total revenue of $39.1 million, up 8.9% from $36 million in the same period of 2023. The primary growth driver was our electric off-road vehicles and associated parts, with sales revenue increasing by 11.3% to $34.7 million. We made significant progress in our U.S, market expansion, with a launch of new product lines injecting new energy into the market, additionally, through our exclusive partnership with Lowe, the officially licensed NSL team golf parts will be launched in the U.S, starting from the end of August.
Allison: Thank you.
Speaker Change #115: And that's why you see some of the monkey to sue them.
Speaker Change #116: Yes, your lead times are good.
Speaker Change #116: Hum.
Speaker Change #117: <unk> easier to do that.
Jim: So you want home at a time, Jim My mom Wuhsien Oliver.
Speaker Change: Additionally, unless otherwise stated, all figures mentioned during the conference call are in U.S, dollars.
Hamzah: Sure Hamzah.
Hamzah: Yes.
Hamzah: Okay.
Speaker Change: Before we continue, I would like to introduce the team joining me on today's call.
Oh as for the auto as you manage that in the past you know those are the old model in our light and we keep innovating and per day with a more up to date at vehicles that matched our target in the Costa unless my market right. Now we are focused on the latter.
Speaker Change: We have Mr. Xiaoming Hu, Chairman of the board, Dr. Xie Qingdong, Chief Executive Officer, Mr. Allen Ling, Chief Financial Officer, and for the first time on our call, Mr. Johnny Tai, CEO of Kandi America, and Ms. Olin Rice, CEO of Norton Group.
Speaker Change #120: Sure outdoor off highway vehicles.
Hamzah: <unk>.
Unknown Executive: Thank you very much.
Speaker Change #121: Thank you very much.
Speaker Change #121: Okay.
Mark Kahnau: Our next question to the line of Mark Kahnau, private investor. Please see us your questions.
Mark <unk>: Our next question from the line of Mark <unk>, a private Investor. Please proceed with your questions.
Mark <unk>: Yes, good morning, everyone.
Mark Kahnau: Good morning, everyone. Let me introduce myself for a short time here. I'm a Swiss space independent wealth manager and broker for 30 years, and I've been in Kandi for several million shares in position and the multi-year participation in these companies calls.
Mark <unk>: Thank you.
Speaker Change #123: We introduced myself for a short time.
Speaker Change #124: If you'd like to ask a question at this time, please press star one on your telephone keypad and a confirmation tone to indicate your line is in the question queue.
Speaker Change #124: Yeah, I'm, a Swiss based independent wealth manager and broker for 30 years now.
Speaker Change #124: You may press star 2 if you would like to remove your question from the queue.
Speaker Change #124: Participants using speaker equipment, it may be necessary to pick up your handset before pressing the star key.
And then can give us several million chats and position in the multi year of participation in these conference calls.
Speaker Change #124: One moment please while we poll for questions.
Speaker Change: Dr. Dong will deliver his repairs remarks in Chinese, which I will then translate.
Speaker Change: Following that, we will have a Q&A session with Chairman Hu, Johnny, and Olin and CEO to answer.
Mark Kahnau: I could never comprehend, let alone expect to see the NASDAQ stock in such a strong and timely position as Kandi. It's trading at a 40% discount to cash, 65% discount to book value, and at a 13-year low price.
Speaker Change #125: I could never comprehend let alone expect to see the domestic stock in such a strong and tiny position as Kennedy Youre trading at a 40% discount to cash 65% discount to book value.
Speaker Change #125: And then just 15 years No prize.
Speaker Change #127: Peter could you just go ahead.
Operator: Kiga, could you just go ahead? Kiga?
Speaker Change #127: Once again, that is star one.
Speaker Change: Now, let us start with brief greetings from each of our executives.
Xie Qingdong: This showcases our innovation and offers fans an eco-friendly way to show their team pride. Our financial position remains strong with cash and cash equivalent, restricted cash, short 2024. We actively excluded our share repurchase program, buying back $673,896 shares at an average price of $2.25 per share, reflecting our confidence in the company's future and our commitment to enhancing shareholder buy. [inaudible] and from an outside article we now see that a second version is a side-by-side E-10K cowboy called the innovator E-10K along with the new $19,000 electric off-road vehicle called the Lucky 9.
Peter: Thank you.
Peter: Good luck.
Speaker Change #129: And as I told you on hazard Hudson to like how you sell how does how should we you got on <unk>.
Speaker Change #129: Thank you and our first question will be from the line of Joel Kramer with Private Investor.
Speaker Change #129: Ego.
Hum.
Speaker Change #130: Hope, you're all well catch all yeah.
Julie: Hi, Julie.
Tons element that comes along with high school cyclicality on Gilenya ally It was home with Yodlee pods, two shifts when I joke, but nonetheless, yes, well Michael installation.
Speaker Change #132: So my personal they so much you're enjoying that they do go through so much on me and John is that a telco you want local child of Jackson.
Mark Kahnau: Okay. On the last conference call, a discussion came up about candy targeting to spin off as a separate NASA company its US subsidiary Candy America made this year. There was a discussion that the most candy could spin off and maintain full rights of conservation of financials is just under 20%.
Speaker Change #132: Go ahead okay.
Speaker Change #132: Please proceed with your question.
Speaker Change: Hello, this is Hu Xiaoming.
On the last conference call and discussion came up about comedy targeting to spin offs as except with NASDAQ company. Its U S subsidiary can be America later this year.
Speaker Change #132: Thank you.
Speaker Change #133: There was discussion that the most can you could spin offs and maintain food right of consolidation of financial is just under 20%.
Speaker Change: Thank you for joining us today.
Mark Kahnau: But to make this possible, due to the domestic requirements of a minimum price per share of $4.50 million market cap, candy it tells would have to have a release. $4.00 plus price per share to meet Nasdaq listing requirements for the subsidiary. But higher to assure the IPO doesn't go down on the first day of trading. What was suggested on the last call was for the company to just do a simple 10 million share tender offer at $3.50 a share, $1.50 on the book value, costing no more than 50% of Candy's cash. This announcement would call for an immediate increase in this due to that trade just bidding at least $3.00 to $3.40 against the $3.50 tender price, which is still well under the $5 book value.
Speaker Change #133: To make this possible due to the NASDAQ requirements other than even price per share of $4.
Speaker Change #133: 60 million market can be a test would have to have at least $4 plus tries to shelf to meet NASDAQ listing requirements.
Speaker Change #133: Put a subsidiary.
Speaker Change: Hello, everyone.
Speaker Change #134: <unk> hired to assure the IPO doesn't go down on the first day of trading.
Speaker Change #135: Well it was suggested on the lock Colo most for the company to just do a simple 10 million share tender offer at $3 50 a share.
One below 50 on the bulk with your coating no more than 50% of Kennedy's cash this announcement, but called for an immediate increase in bids Youtube tradeshows bidding at least $3 to street and the 40 against the $3 50 tenure prize, which is still well under the size.
Speaker Change #135: On a book value.
Mark Kahnau: But each share board under the book value will increase the remaining book value per share by the difference between the purchase price and the book value. So if the non-selling holder gained $1.50 to $15 million in book value for each $1 million plus share per share, it alone would be a great win.
Speaker Change #135: Each share bought under the book value will increase the remaining book value per share.
Speaker Change #135: Friends between to Chase price and the book rate.
Speaker Change #135: So if the non selling hold or gain of 150 $215 million in book value for each 1 million plus ship to chase it.
Speaker Change #136: It alone would be a great win.
Unknown Executive: The response to this question on the last conference call from the CEO will thank you for your transition, and we will appreciate that. We will take it in consideration and evaluate and react properly. But remember, at the time that this was set, this can be trading at $3.
Speaker Change #137: The response to this question on the last conference call from the C. O World. Thank you for your suggestion and we really appreciate that.
Speaker Change #138: We will take it and come to duration and evaluate and react and react properly.
Speaker Change #138: Remember at the time.
Speaker Change #138: This will affect this can be trading at $3.
Mark Kahnau: So do this is even more now. This is even more important, and there will come my questions now. Thank you.
Speaker Change #138: So do this.
Speaker Change #138: So is this even more now this is even more important.
Speaker Change #138: And they'll come back Christian Smith.
Speaker Change #138: Thank you.
Speaker Change #139: This is regarding new products, on the Q1PR.
Speaker Change #139: How did you how did you when he sure Glenn Chomsky hopefully this show home with how long account D. G. What Sachin yet, yes, Johan that way John seem like when it's supposed to come you make what's the latest thought leader Nostoc also attention from China, Lunchy, Poland, Downzone, Archie who walk hungry Shimon voucher tile warping the mines.
Speaker Change #139: CEO stated, moving forward, we will launch new starter batteries, as well as a variety of more competitive, All Electric Off-Road Vehicle Products and Electric Water Sports Car.
Speaker Change #139: Also from a press release, we learned of Kandi now selling its own branded lithium AA rechargeable battery.
Speaker Change #138: Xiaomi.
Speaker Change #140: And so you're torturing I'm typhoon Sanjay <unk> esophagus.
They ask for Sanjay you move you all know.
Unknown Executive: In addition to a request from Nasaq, the lowest price must be $4.00 to $5.00 to $5.00 to $5.00 to $5.00 to $4.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $5.00 to $ to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 to $1.00 Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q&A, Q Q&A, Q&A, Q&A Kandi has always been in the考慮 for Kandi and the United States in recent years.
Speaker Change #140: Last I could achieve only the y'all show attrition Nagel J D. 's Alcoa issue they submit yet shuja shots I will tell me yet.
Speaker Change #141: Thanks, you know who cannot be XI to shop at all May go swimming any shot John Hanna months old Circle fish I'm sure. The onshore I kept your husband golf each of Bob shall should you hope I P. O. The show cause of gel gel you hit both ways that D. It.
Speaker Change #142: Some of you hopefully to show all night.
Speaker Change #143: All told you and saying he calls it clean equal sung <unk> Jackup mhm gotcha.
Speaker Change #143: Tim what cool each L. One SKU that Yodlee and she'll go at Joseph a lumpy Xiaomi and the Johnson I L. D are equally well media plus April hedgehog, well accomplish something up on tissue.
So you can call it jumped way EG in Hollywood It seems yeah, ciszewski sight and sound quite a Dol some class C. P J.
Speaker Change #144: And you do it sounds like that yeah.
Joshua: Oh, Yeah, Joshua J D.
Dean: Dean why that tell me exactly that may equal.
Speaker Change #147: I'm, making them, but they may not equal Deane, you're telling me George the Coachella Churlish showing you the may equal that's telling me Jonathan Jacko much Jaco, you're telling me, Josh Susanna Chau inkjet.
Speaker Change #148: Hum guar.
Speaker Change #148: <unk> seen much Wuxi ultra Tunghwa goldmine, hopefully you might wind up group showed a flash Jonathan Johnson <unk> Johnson Josh.
Speaker Change #149: If I wish one G. Each hold about one that yes G kit.
Speaker Change #150: Did you see the juice is trying to ensure.
Speaker Change #149: Sure.
So I'm with you on wage on us a yoga teacher they'll claim she gander gosh in the Ta one month's Asia Ghansham I'll break holidays getting towards where she was on the plane.
Speaker Change #149: Thanks, you can truly though she's a shuffle guns, Connie Cook will touch Agua, yeah cause I'm, sorry Sunday Yang Shah.
Speaker Change #149: Such as you saw question I've been doubtful, Neil you must see local job Dashi D.
Speaker Change #151: While he sat Chico lunch here.
Speaker Change #151: Go ahead, Kewa.
Speaker Change #151: Go ahead with your questions.
Speaker Change #153: On the Wednesday can you just talk opened at $106 66, a share the lowest price it's a trade it in the past 14 years.
Speaker Change #153: Cause management, no any other investment or use of cash better than spending 50% of kind of the average cash position.
Brian: Over the past few years and Brian can you just talk at a 30% discount to book value.
Unknown Speaker: A few questions I have the F.
Brian: 这个问题是关于新产品 在上个季度第一季度的新闻稿中 当时CEO有这样说到 展望未来我们将推出 启动电池以及各种具竞争力的 纯电动非公路车辆产品 和电动的水箱运动产品 此外呢从新闻稿中也了解到 康妮现在正在销售 自由品牌的锂充电双A电池 而从一篇外部的文章中 我们还看到康妮推出并列 E10K Cowboy的第二个版本 名为Innovator E10K 以及一款销售价, 為19,000美元的新電動非公路車 Lucky Go ahead, And from an outside article, we now see that a second version of the side-by-side E, and Kay Cowboy called the innovator.
Speaker Change: I'm Xi Qingdong.
Unknown Speaker: First, could you please explain what sort of batteries are and how big the market could be? Go ahead. Okay.
Brian: But it's also not sure of what I'll call me, the Coucal Kai Punjab way Michael.
Kewa Luo: JohnnyTai,CEOofCandyAmerica,andMr.
Olin Rice: So,we'vegotaplan.
Olin Rice: 歐倫可能是正確的人問了這個問題。在管理層的意見中,為何Lowe's選擇了Kandi?
Kewa Luo: OlinRice,CEOofNorthernGroup.
Olin Rice: It'sathree-year-longplan.
Speaker Change #155: The only Omega Tricia courtside coaches Shearson yen life C D. The jelly saga Guarani tushar for it.
Speaker Change: I'm pleased to share our progress with you shortly today.
Keith I'll, you'll be you're telling me is that your deep on Lucerne chute Goldmine count equaled telco hollow told to Washington D. C. On some shifts G O T shirts I of course, she sung and jumping to ensure the changing nature.
Olin Rice: That'stheextentofthecontractatthispoint.
Speaker Change #155: Okay.
Speaker Change #155: Column in Sonoma County.
Speaker Change #155: Begins on the deepwater.
Michele Cook: General merchandise and definitely Michele Cook and her total torture she couldn't do that.
Speaker Change #155: Gotcha.
Speaker Change #155: Yeah.
Speaker Change #155: E-10K, along with the new $19,000 electric off-road vehicle called the Lucky Nine.
We understand that our stock is seriously and significantly undervalued and we are increasing our budget and our marketing and advertising to promote brand hopefully it can attract more American investors. Thank you.
Speaker Change: Good morning, everyone, and hello, everyone.
Allen Ling: This is Allen Ling.
Unknown Speaker: The start of battery refers to the particular battery used to stop the battery. We are still in a rather early stage of the RID and we are conducting the market research. According to the information available, the global automotive started battery market so it was reached the RMB 1503 billion in 2003 and expected to reach RMB 206 billion by 2030 with a compound and a growth rate of roughly 3.3%. Thank you.
Speaker Change #155: A few questions I have to ask.
Speaker Change: Thank you for joining us.
Unknown Speaker: The next two other questions.
Speaker Change #157: Okay. That's management's didn't want to spin off Ken The America and if so does it have any better idea of how to get can get stock price up to the price.
Olin Rice: So,wearegoingdownapaththatwouldbetoputahardnumberonitrightnow.
Speaker Change: Hi, everyone.
Olin Rice: Iwouldhaveaveryhardtimeputtingahardnumber.
Speaker Change #158: Very quickly to assist us execution up to spin off besides the marketing you just mentioned because of that.
Speaker Change #158: There was already a lot of PR and marketing.
Speaker Change #159: Did what they were missing a little bit fingers and isn't that so there was no big impact this marketing and the stock price.
Johnny Tai: It's Johnny.
Speaker Change: Good to be here with you.
Speaker Change #160: A question for you as you want so I'm trying to make or not calling you make whatnot, well should Ohio medical on the bond button, all showrooms, which Asia countries of course, yeah.
Olin Rice: Therearecertainlyveryhighexpectationsamongallthreepartiesinvolved.
Speaker Change: Good morning, everyone.
Unknown Speaker: What would be the competitive all electric off-road vehicle and the water sports product from the press release? And will Kandi soon be offering 3A along with the AA with the batteries and can these batteries use any size compatible charger where it must be a specific branded charger?
Speaker Change #161: Eat bound to such high surely changing Oh, my God, how your teeth are going to Genzyme Genzyme. Some Joshua challenge I Hope all total centers issue teams, who can Yale total childhood, socal and thanks for being melded Tysabri and shop.
Speaker Change: This is Olin, and I'm excited to join the discussion today for the very first time.
Unknown Speaker: Thank you. The next two questions are questions.
Speaker Change #161: Yeah.
Speaker Change #161:
Speaker Change: Thanks, everyone.
Speaker Change #162: From a comedy.
Speaker Change #163: Uh huh.
Speaker Change: With that, let me now turn the call over to our CEO.
How do you weigh it is a kind of a meaningful change in chin tenants awesome.
Speaker Change: Dr. Hu Xiaqing Dong, to share our Q2 performance.
Unknown Speaker: What is the standard electric off-road vehicle and water sports product? What is the standard electric off-road vehicle and water sports product from the press release? The standard electric off-road vehicle and water sports product from the press release?
Unknown Executive: But before the news came to an end, let's go to the news room. Before that, let's discuss this. So we are considering the potential deal listening for Kandi America.
Speaker Change #164: That's a sunk.
Speaker Change #164: Someone didn't actually see maybe pulpwood for Shan Shan.
Speaker Change #164: And one quick in Omnichannel and assembly according to the system.
Speaker Change #164: Yeah.
Speaker Change: Dr. Dong, please go ahead.
Speaker Change #165: So we all considering.
Speaker Change #166: The potential deal with these things can be America, but due to the FCC regulations were not allowed to discuss too much about this matter.
Unknown Executive: But due to the SCC regulations, we are not allowed to discuss too much about this matter. Thank you for understanding.
Speaker Change: Thank you Again, welcome to today's conference call.
Speaker Change #166: If I understand it.
Speaker Change #166: Yeah.
Speaker Change #167: Okay. Thank you for this information so that means in my view that you are considering and you'll have a quiet period for that that's very good.
Unknown Executive: Okay, thank you for this information. So that means, in my view, that you're considering, and you have a quite period for that. That's very good.
Unknown Executive: Can you tell us a little bit more about the Monday announcement of the manufacturing agreement with Taiwan-based Half-Port? Kandi has plenty of access manufacturing capacity in-house, and normally would not need to add significant capacity right now. So either this deal is being done as inferred in the first paragraph of the Monday announcement. It's all necessary manufacturing standards, regulatory requirements, and local content, thresholds for the both US and production in Taiwan. Or Kandi is going to need all discount access capacity to make and deliver enough product to reach its 2025 goal of 500 million revenue.
Speaker Change #168: Can you tell us a little bit more about the Monday announcement after manufacturing agreement with Taiwan based hot food.
Speaker Change #167: Eddie.
Speaker Change #167: As it.
Kewa Luo: Dr. DongwilldeliverhispreparedremarksinChinese,whichIwillthentranslate.
Olin Rice: Johnny,ifyoufeelbetteraboutitspecifically,I'mhappytodothat.
Speaker Change #169: Has claimed it can be.
Speaker Change #170: Plenty of excess manufacturing capacity in house, and normally would not need to add significant capacity right now well either this neal it's being done.
Unknown Speaker: The second question is related to the A&A and the A&A. The A&A is to promote the A&A, which is to promote the A&A, which is to promote the A&A, which is to promote the A&A, which is to promote the A&A. [inaudible]&A, which is to promote the A&A.
In food in the Pittsburgh After Monday announcement.
Speaker Change #171: Only necessary of manufacturing standards regulatory requirement and local content.
Speaker Change #171: Michelle let's go to both the U S.
Speaker Change #172: And production in Taiwan, all kandi is going to need or discount excess capacity.
Speaker Change #172: To make and deliver enough product to reach its 2025 goal of 500 million.
Speaker Change #172: Revenue.
Unknown Executive: Which is it, or is there any algorithm? Kandi also needs to use all the current manufacturing standards and deliver enough product to reach its 2025 goal of 500 million revenue.
Speaker Change #173: Which is it or is there any other reason.
Speaker Change #174: Hi, Susan Dunhill quasi hoogland, Tampa Nashville are swimming in Tianjin batching must see so many conventions agencies, yet dawns, what a what a cycle. When do you say that you shouldn't I'm for salmon fish always agile equals to shampoo that your time on hot before Oh that CAE can I'll call them do you need where you can go with that on that Joe.
Speaker Change #175: Yeah of course in China.
Speaker Change #176: Jean <unk> shipped but she also at that time on that.
Speaker Change #177: None of the T V gel issue in our minds. So can go deep dives on he thought that one jonestown she adult John Shea Baoshan, China for class soil be all that she thought be altra.
Speaker Change #177: Luckily Altschul E. G would you need that y'all chalk Ya man, so tool called me guar, but how long do you shouldn't have a breathing a high share of comedy job. She aldi on soil shouldn't side of course in China, Elisha hunting jostle tool attempting ethology cancel assure that Oh and yes, we made.
Speaker Change #177: And I won't be off course, you should see Pasha Monday Yang.
Speaker Change #177: Yeah.
Speaker Change #178: [noise] wasn't known Halo Assortments downtown Carillon.
Speaker Change #178: I'm.
Speaker Change #179: I'm a woman.
Speaker Change #179: <unk> put a lot of I wonder truly I'm with you. So we will miss seamless things that shop fabricated user element of time in Chicago.
Speaker Change #179: Okay.
Speaker Change #179: Yeah.
Unknown Executive: So expanding to Taiwan is a strategic move for us to enhance our supply chain. The main purpose is to add value to our existing products and further enhance and strengthen our market competitiveness.
Speaker Change #180: So expand into Taiwan, He says that they should move for us to enhance our supply chain.
Speaker Change #181: The main purpose is to add value to our existing products and Florida enhance and strengthen our market competitiveness.
Unknown Executive: Thank you.
Thank you.
Unknown Executive: Okay, I understand, and that's my last question. And this report today, you mentioned the low deal, which is quite important for you as a company. Maybe now specifically to the U.S. management team. Have there been any discussions about the size of the deal? So, you know, how many UTVs or whatsoever, and how many years this is going to be in the market, this deal that could give a very good insight for the future figures as a guide. So, I think there's a little bit of a little bit of data on what to do with the UTV, or is it possible to give a little bit more information on what to do with it?
Speaker Change #182: Okay I understand and that's my last question is and this Ah report today, you mentioned the low steel.
Speaker Change #183: Which is quite important for you as a company.
Speaker Change #184: Hmm, maybe no specific to the U S management team has there been any discussions about the size of these deals. So you know how many how many new Tvs or.
Speaker Change #184: Whatsoever in how many years this is going to be in the market.
Speaker Change #184: This deal is.
Speaker Change #184: That could give us very good insights for the future because of the guidance.
Speaker Change #185: Joao linear shooting candour, Bill Holly I tell them by either from the old she voucher should Glenn.
Speaker Change #185: Could you please explain what starter batteries are and how big the market could be?
Speaker Change #186: Loss, Oh, that's why no one's youll see a good Joshua <unk> G. Though that's the way that she can nail you said due to the Fuji share. She suddenly out you see a U T I C, especially a number of them.
Unknown Speaker: So, I'm... I'm sorry, can you repeat your second question about Lucky T9? Yeah, the guess strike. Is that you had that years ago in your line, it was similar to the Polaris fighter? No, no, the second question, the third question you said is the high end vehicle Lucky T9? Yeah, high end candy I mean, in many years ago, there was a 90-year-old man riding the Polaris fighter who was riding the Polaris fighter very similar time ago, do you think that the third question was there any news about Lucky T9?
Speaker Change #186: A goodly share lighthouse, that's what that G T a C.
Unknown Executive: This question will also answer you. We're going to have a deal of Kandi America, John, to answer your question. But if you can be more specific about what you like to know, and that will be, that will be really good. Oh, yeah, of course. You know, I mean, if you're signing such a deal, lows as well as Kandi, you know, they must have some idea how many UTVs of this kind could be brought to the market, or so it, or being so it, you know, because Kandi has to be prepared, production wise, and lows has to be prepared, you know, distribution wise.
Speaker Change #187: I took out when he got Johnny you criticize Oh, my God I wouldn't let you T J.
Kewa Luo: Followingthat,wewillhaveaQ&AsessionwithChairmanHu,Johnny,andOlin,andCEOtoanswer.
Olin Rice: ButIjustdon'tknowthatnumberyet.
Speaker Change #188: What we are going to have a Z of Candy America, Jonathan to answer your question, but if you can be more specific about what you like to know.
Speaker Change #188: Go ahead.
Kewa Luo: Now,letusstartwithbriefgreetingsfromeachofourexecutives.
Speaker Change #189: That would be that would be really good.
Speaker Change #190: Oh, Yeah of course, you know I mean, if if you're signing such a deal lows as well. It can be you know they must have some idea of how many you Tvs of discount.
Xiaoming Hu: Hello,thisisHuXiaoming.
Speaker Change #191: Could be brought to market also at all being so as you know because Kenny has to dig deep to pet production wise and know it has to be prepared to no distribution base. So I I would think that there must have been some discussions about how many U T D.
Xiaoming Hu: Thankyouforjoiningustoday.
Xueqin Dong: Hello,everyone.
Unknown Executive: So, I would think that there must have been some discussions about how many UTVs of this special NSL license UTVs could be sold, or the market is willing to accept.
Xueqin Dong: IamXueqinDong.
Speaker Change #191: And that's L license <unk> Tvs.
Speaker Change #191: It could be sold on the market is willing to accept.
Xueqin Dong: Iampleasedtoshareourprogresswithyoushortlytoday.
Unknown Executive: Okay, very good question. You know, and I think I'm going to answer that first, and then I will invite my colleague, you know, all to weigh in as well. Yes, we do have a, you know, like discussion, regular meeting, you know, which lows to discuss, you know, what the market looks like, and we understand the market is quite, you know, challenging right now, with all the economic, you know, climate, such as inflation. So, I think that we carefully reviewed the market, and then also we determined, you know, how many stores, how many inventory we would like to, you know, bring in.
Speaker Change #192: Okay. That's.
All: 您能不能解释一下什么是启动电池,市场规模有多大?
All: 這個啟用電池指的是用於車輛啟動的專用電池。 市场规模,根据网络上提供的信息,2023年全球汽车启动电池市场销售额达到了1636亿元人民币。 一直到2030年將達到兩千零, 那么年复合成长率约为3.3% Okay, the starter battery refers to the particular battery used to start a vehicle.
All: Very good question and I think I'm going to answer that first and then I'll invite my colleague and all into a way in this well yes. We we do have about you know like that discussion regular meeting with Lowe's to discuss you know what the market looks like.
All: We are still in a rather early stage of the R&D and we are conducting the market research. According to the information available, the global automotive starter battery market sales reached $163 billion in 2023 and is expected to reach $206 billion by 2030 with a compound annual growth rate of roughly 3.3 percent.
Alan Ling: Goodmorning,everyone,andhello,everyone.
All: Thank you.
Unknown Speaker: What is your plan for this car? I'll answer the first question. From the perspective of the United States, in a vehicle and co-boy, two U.T.V, is the same company. [inaudible] In order to target different customer groups, that's pretty much the crust of it. The innovator, as you may know, has a more fashionable appearance and tends to attract the community with the better outlook, whereas the car boy has an outdoor style and is tailored for hunters and off-road vehicle users. Our goal is to expand the market for various vehicles. In that vision, how far if many so-in-loads or if the innovator will be so in hardcore in the near future?
All: The next two other questions, what would be the competitive all-electric off-road vehicle and the water sports product from the press release?
Alan Ling: ThisisAlanLing.
All: And we'll candidly soon be offering.
All: And we understand the market is quite challenging.
All: 3A along with the AA lithium battery.
All: And can these batteries use any size compatible charger or must it be a specific branded charger?
All: State of Louisiana.
All: Challenging right now with all the the the economic climate such as from the inflation. So I think are we carefully we beat the market.
All: 下面兩題他是問就是新聞當中你提到的具有競爭力的純電動非公路車輛和水上運動產品具體指的是什麼?
All: And then also we determined it you know how many stores how many inventory we would like to you know bring in.
Unknown Executive: So, I think that's, you know, we still have a lot of, you know, discussion going on with lows.
So I think that's you know we still have a lot of email discussion going on which lowers and.
Olin Rice: Yes, I would like to wait in. I was unmuting. You guys hear me? Yeah, so to Johnny's point, we are in weekly, several times a week, conversations with the three-year-long panel. That's the extent of the contract at this point. So we thought we are going down to path in a week. To put a hard number on it right now, I would have a very hard time putting hard up. There are certainly very high expectations among all three people involved. Johnny, if you feel better about specific, happy to do that, but I just don't know that now. We do have very high expectations.
Speaker Change #194: And would you like to weigh in.
Olin Rice: 謝謝你的問題。Lowe's就像其他大型商店一樣,有非常嚴謹的選擇過程。對於供應鏈和產品的選擇。在你提到的短短的時間中,我們成為了他們的關鍵夥伴。尤其是在娛樂範圍,尤其是在電力範圍。我認為這與價值觀有關。我們在這個團隊中建立了很高的信任。Lowe's計劃將包括實際的高爾夫球卡和六個乘客卡嗎?
Speaker Change #194: Holden.
Speaker Change #194: Yes.
Speaker Change #194: Anita.
Alan Ling: Thankyouforjoiningus.
Anita: Can you guys hear me.
Johnny Tai: Hi,everyone.
Speaker Change #194: Yes.
Speaker Change #196: Okay. Yeah. So just to Johnny's point, we we are in weekly.
Speaker Change #196: Several times a week conversations with the Lowe's team.
Johnny Tai: It'sJohnny.
Chip: Thank you chip.
Chip: 另外就是康迪是否會推出3A鋰電池跟, 双A电池一起推出 然后这些电池是否可以使用 就是任何其他品牌兼容的充电器 还是只能够使用 Kandi品牌的专用充电器才能充电 好,這兩個問題,我先回答第一個, 西风稿中提到的具有竞争力的纯电动非公路车辆,指的是我们新一代的UTV、ATV、GO-KART和高尔夫球车。 那麼我們指的水上運動產品指的是一種創新性的單能電動卡丁船相關產品, 那麼第二個問題關於這個AA電池和AAA鋰電池 我們推出的AA電池是為了測試美國市場的優勢, 目前我们取得了一些初步的成绩 今後將考慮要推出AAA電池 至於何時推出AAA電池 我們要看現在AAA電池在市場中的表現, 那么我们的AA电池是可以兼容其他充电器的,并不局限于康康电池。 First of all, let me answer the first question.
Chip: The models you mentioned, those are related to our upcoming products in the future that we are still under development.
Chip: We are expanding into the UTV and water sports category, and there will be more product description and details in the future.
Chip: So.
Johnny Tai: Goodtobeherewithyou.
Chip: As it relates specifically to the NFL.
Chip: And our position.
Chip: Everybody's excited.
Olin Rice: Goodmorning,everyone.
Speaker Change #198: Oh it was in.
Speaker Change #198: Obviously.
Speaker Change #198: So you've got a plan, it's a three year long and.
Speaker Change #198: That's it.
Speaker Change #198: Correct.
So we've got we are well down the path.
Speaker Change #198: Okay.
Speaker Change #199: To put a hard number on it right now.
Speaker Change #200: I would have a very hard time.
Speaker Change #200: They are certainly very high expectations amongst all three.
Speaker Change #200: Johnny do you feel better about it.
Olin Rice: ThisisOlin,andI'mexcitedtojointhediscussiontodayfortheveryfirsttime.
Johnny: Happy to do that.
Johnny: Okay.
Unknown Speaker: Thank you. The second question is about Lucky T9, which is $1,000. What kind of sales market is this? This product, as you may know, is outdoor. The market is really for those outdoor and sports fans in the market. As for the models you mentioned in the past, those are the old models in our line and we keep innovating and produce more up-to-date vehicles that match the target in the customers' segment market. But right now we focus on the larger outdoor off-hival vehicle.
Johnny: Yes.
Speaker Change #201: Do you have very high expectations.
Olin Rice: Impact, Kandi as a company. I don't stop there. Well, thank you, Olin.
Speaker Change #201: Impact mhm.
Speaker Change #201: Oh yeah.
Unknown Speaker: Thank you.
Speaker Change #201: <unk>.
Speaker Change #202: Well, thank you all and I think a U M I.
Johnny Tai: I think you, you, I think you are a little bit, you know, breaking up, but I think I want to make a, you know, correction. It's a, the NFL, we have a real license to sell it from the golf cart. It's not the UTV. So right now, you know, it's actually available to older, on low.com. So I think at, yeah, I agree with what Olin mentioned. Thank you for your question.
Thank you on a little bit.
Speaker Change #202: <unk>.
But I think I want to make a you know interaction at that the.
Speaker Change #202: And that's all we have a we are licensed to sell it sound golf carts, its not that U T V. So right now you know it's a it's actually available at your older low start come on so I think yeah I agree with Scott mentioned, Thank you for your question.
Speaker Change #202: Yeah.
Unknown Attendee: Okay, then that is it for me just, yeah. Okay, for just my last remarks for management, especially in China, is, you know, there's a good company that's one side and there's a good stock price. And these two things often don't match together. I think when it comes to company, the management has done a terrific job over the last years. No, the company float and to strike good deals and to bring the company where it's today. But when it comes to the stock price, I'm going to say that there, there are a little bit lagging behind what, for whatever reason.
Speaker Change #202: Okay and then that's it for me just.
Speaker Change #202: Yeah.
Okay.
Speaker Change #203: For just my last remarks called for management, especially in China as you know and there's a good company. That's one side and there's a good stock price and these two things often don't match together.
Unknown Speaker: Thank you very much.
Speaker Change #203: Well I think when it comes to the company.
The management has done a terrific job over the last years know that kept the company afloat and to strike with deal.
Speaker Change #203: And to bring the company with you today, but when it comes to the stock price I must say that they're.
Speaker Change #204: They're down a little bit lagging behind what for what reason ever.
Unknown Attendee: So I would say, you know, one could a little bit, you know, concentrate now a little bit also on the stock price for shareholders and to make the stock a little bit, you know, in the public view that there's more attention about candy and what candy can provide. Candy can do. Then the stock price could go significantly higher from the current position.
Speaker Change #204: So I would say one quick little bit concentrating a little bit also on the stock price for the shareholders.
Speaker Change #204: To make the stock a little bit you know.
Speaker Change #204: And the public view that there is more attention about candy and what can be can provide.
Speaker Change #204: Can we can do then the stock could go with significantly maybe higher from the current position.
Operator: Thank you for taking my questions.
Speaker Change #205: Thank you for taking my questions.
Speaker Change #206: And I feel like Oh, gosh, I guess realize your share constant tangentially Ah ha ha going, especially if they shop, how long cycle Donna youll shooting off the shot all onto lounger not bleeding question, either a woman dogon snotty soon you'll find the ha ha.
Speaker Change #207: I'm showing your door travel of Hacky way Darlington massage envy the people shall haunt me I've seen later, how cool is that not yet I'm not sure I came on when these homes I think halt and uncle Gandzha Glens with Ocwen.
Mark Kahnau: Our next question to the line of Mark Kahnau, private investor. Please see us your questions.
Xie Qingdong: Good morning everyone. Let me introduce myself for a short time here. I'm a Swiss space independent wealth manager and broker for 30 years and I've been in Kandi for several million shares in position and the multi-year participation in these companies calls. I could never comprehend, let alone expect to see the NASDAQ stock in such a strong and timely position as Kandi. It's trading at a 40% discount to cash, 65% discount to book value and at a 13-year low price.
Glen's: Glen's without somebody she shops.
Speaker Change #209: Yeah, and John upon uncle, Boswell uncle, Doshi, and Tom Dugger with that I would say that what.
Speaker Change #209: Fishing, then played out at once.
Speaker Change #209: Yeah, so Jeff on that too.
Operator: Thank you, operator. We're ready to take the next question.
Speaker Change #211: Thank you operator, we're ready to ready to take next question.
Steve Miller: The next question is from the line of Steve Miller with a private investor.
Speaker Change #212: The next question is from the line of Steve Miller with a private Investor. Please proceed with your questions.
Steve Miller: Please, we'll see with your questions. Good morning, Kewa.
Xie Qingdong: Kiga, could you just go ahead? Kiga? Okay, on the last conference call, a discussion came up about Kandi targeting to spin off as a separate NASA company its US subsidiary, Candy America, later this year. There was a discussion that the most candy could spin off and maintain full rights of conservation of financials is just under 20%. But to make this possible due to the NASA requirements of a minimum price to share of $4 and 50 million market cap, candy hotels would have to have at least $4 plus price per share to meet NASA's listing requirements for the subsidiary but higher to assure the IPO doesn't go down on the first day of trading.
Steve Miller: The so-called competitive pure electric off-highway vehicles mentioned in the press release refer to the newest generation of like the UTV, ATV, go-kart, and the golf cart models.
Steve Miller: Good morning, Sheila you said in your press release today that the United States is your primary market and the increased freight shipping expense from China to service your expanding customer base. What's the reason for the biggest increase in your selling and distribution expense.
Steve Miller: You said in your press release. Thank you.
Steve Miller: Thank you, operator. We're ready to take the next question. The next question is from the line of Steve Miller with a private investor.
Steve Miller: Please, we'll see with your questions. Today, that the United States is your primary market and that the increased freight shipping expense from China to service your expanding customer base was the reason for the biggest increase in your selling and distribution expense. Although I can guess this to the reasons for your recently announced partnership with Hartford Industries and Taiwan for manufacturing.
Speaker Change #214: Whereas the water sports products refer to the innovative single passenger electric jet ski.
Speaker Change #214: Although I can guess as to the reasons for your recently announced partnership with Hartford Industries in Taiwan for manufacturing why don't you have manufacturing facilities in your primary market, the United States, especially as you contemplate spinning off Candy America to be an independent publicly.
Speaker Change #214: And then as for the second question, so basically we launched the AA batteries to test the feasibility of the U.S. market.
Speaker Change #214: We have some actual initial success and we consider launching the AAA batteries in the future. As for when to launch the AAA batteries, it depends on how well the AA batteries performs in the market.
Speaker Change #214: Our AA batteries are compatible with other chargers and they are not limited to only the Kandi branded chargers or vehicles.
Steve Miller: Why don't you have manufacturing facilities in your primary market, the United States? Especially as you contemplate spinning off Candy America to be an independent publicly traded company.
Speaker Change #215: Trading company.
Yeah.
Steve Miller: Thank you. Today, the United States is our primary market.
Speaker Change: We are pleased to report that Kandi Tech Technologies continued its strong growth trajectory in the second quarter of 2024. We achieved total revenue of $39.1 million, up 8.9% from $36 million in the same period of 2023. The primary growth driver was our electric off-road vehicles and associated parts, with sales revenue increasing by 11.3% to $34.7 million.
Xie Qingdong: What was suggested on the last call was for the company to just do a simple 10 million share tender offer at $3.50 a share, $1.50 on the bulk value, coasting no more than 50% of candy's cash. This announcement would call for an immediate increase due to the traders bidding at least $3 to $3.40 against the $3.50 tender price which is still well under the $5 book value. But each share board under the book value will increase the remaining book value per share by the difference between the purchase price and the book value.
Speaker Change #216: Thank you.
Speaker Change #216: Thank you Tim when he Nashville, and linking your father, who want them and I am John Dawson definitely well, she's hot and I show them and naturally all the shell Hershey.
Speaker Change #216: Thank you.
Kewa Luo: Thanks,everyone.
Olin Rice: WedohaveveryhighexpectationsthatcouldimpactKandiasacompany.
Speaker Change #216: And the next question is, what is the difference between the E10K Innovator and the E10K Cowboy?
Speaker Change #217: And when would you expect them to be cleared for sale and tax?
Speaker Change #217: I just don't I sound, then when they shouldn't that Ti Michel showed that alcohol. She knows that make life easy not only you'll play young how do you make what it seems like some kind of shall share no well one of my wish him a football woman that shouldn't kind of sure sure.
Steve Miller: We want to ask about the importance of our primary market in the United States, and then we'll let Kandi and the United States split up. The United States is our primary market.
Speaker Change #217: As a high end of Kandi's products at $19,000, what market does the Lucky Nine address?
Speaker Change #217: And lastly.
Speaker Change #217: Several years ago, Kandi had, and 910 scale GAZ-Trite motorcycle, very similar to the Polaris fighter. Two wheels in the front, one in the back. It was seen that it could be a big seller for older biker wannabes.
Olin Rice: I'llstopthere.
Steve Miller: Why don't we take our socialization into the United States and take it into the United States and take it into Taiwan? This should be the case. Our United States is also in the primary market.
Speaker Change #217: Sure sure surely that make why she usually belt.
Speaker Change #218: So it should all timeline.
Speaker Change #218: It's almost all women make what I call them towards one, yes, Hey, Tobey I'm don't pencil. It doesn't you don't know what I mean with somebody that's on top of it.
Steve Miller: But we don't know why we have to turn to Taiwan.
Speaker Change #219: The fourth one.
Steve Miller: We don't want to talk much about it now. So, we actually are considering our example of our production life in the future. It's a conflict in our plan.
Speaker Change #220: I know what my C&I become couldn't put up on it.
Speaker Change #220: Yeah.
Speaker Change #221: Any thoughts about Kandi bringing an electric trike version out?
Speaker Change #221: So we actually I am considering example, oh well that's right.
Speaker Change #221: And any new vehicles, Go ahead.
Speaker Change #222: Sure it's definitely in our plan so the collaboration with high lobbies one of them.
Steve Miller: So, the collaboration with Taiwan is one of the strategies, and we may not disclose too much about that.
Speaker Change #222: The strategy and we may not know, it's supposed to too much about that.
Speaker Change #222: In this call.
Speaker Change #222: Alright.
Speaker Change #223: 接下来这个问题是问E10K的Innovator和E10K的Cowboy之间有什么区别 你预计这两款车什么时候能在德州获得销售许可开始销售 下一个问题就是作为康迪的高端车Lucky T9, 就是, T.T.
Unknown Attendee: I'm quite active understatement on social media, especially regarding candy.
Speaker Change #223: I'm quite active understatement on social media, especially regarding candy and there seems to be a campaign against candy by detractors on a lot of internet chat boards, claiming that kandi is nothing more than a reseller of private labeling.
Speaker Change #223: 这款车, Yeah, the gas tray, is that you had that years ago in your line, it was similar to the Polaris fighter?
Unknown Attendee: And there seems to be a campaign against candy by detractors on a lot of internet chat boards claiming that candy is nothing more than a reseller of private labeling of its array of golf carts and various UTVs, ATVs, go carts, other off-road electric vehicles, and even lithium batteries made by other manufacturers. As long time candy followers are aware, this is a false narrative.
Xie Qingdong: So if the share per share is alone would be a great win. The response to this question on the last conference call from the CEO vote, thank you for your transition and we will appreciate that. We will take it in consideration and evaluate and react properly. But remember at the time that this was set, this can be trading at $3. So now this is even more important and there will come back this is not.
Speaker Change #224: Array of golf carts, and various E T V's a T. V's go cards other off road electric vehicles, and even lithium batteries made by other manufacturers.
Kewa Luo: Withthat,letmenowturnthecallovertoourCEO,Dr.
Kewa Luo: Well,thankyou,Olin.
Speaker Change #225: No, no, the second question, the second question you said of the high end vehicle.
Speaker Change #225: As long time Kandi followers are aware this is a false narrative, but easy for detractors to say since Kandi does not have a high profile corporate website in English that showcases its in house capabilities. He like do you want go ahead and translate that.
Xueqin Dong: XueqinDong,toshareourQ2performance.
Kewa Luo: Ithinkyouarealittlebit,youknow,breakingup.
Unknown Executive: But easy for detractors to say since Candy does not have a high profile corporate website in English that showcases its in-house capabilities. Do you want to go ahead and translate that? But actually, this is a false narrative. They are very clear about candy.
Xueqin Dong: Dr. Dong,pleasegoahead.
Kewa Luo: ButIthinkIwanttomakeacorrection.
Speaker Change #225: Yeah, high, high end candies products at $19,000.
Speaker Change #224: Okay.
Speaker Change #226: I'm thinking just yourself with them I'm sure you'll kind of hundreds you should take him he push a hung hom fighting to the Cheyenne just yet so I should say.
Speaker Change #227: By Xinjiang Huntington, What's your T V go try social social Bacci Hydrogel shall show I'm trying to call for social out goes on U T V. A T V that talented singer.
Speaker Change #227: Since you're highly dense trade challenges of Belgium, and it's actually been a nice social and she says you don't fill Russia told that the consequence will come to you enough how much Johan sinful.
Speaker Change: We made significant progress in our U.S, market expansion, with a launch of new product lines injecting new energy into the market, additionally, through our exclusive partnership with Lowe, the officially licensed NSL team golf parts will be launched in the U.S, starting from the end of August. This showcases our innovation and offers fans an eco-friendly way to show their team pride.
Xie Qingdong: [inaudible] to $5 to $5 to $5 to $5 to $5[inaudible] Zhang Mian Jia Ge, Zhang Mian Jia Ge, Zhang Mian Jia[inaudible] Zhang Mian Jia Ge Kandi has always been in the考慮 for Kandi and the United States in recent years. But before the news came to an end, let's go to the news room. Before that, let's discuss this. So we are considering the potential deal listening for Kandi America. But due to the SCC regulations, we are not allowed to discuss too much about this matter. Thank you for understanding. Okay, thank you for this information. So that means in my view that you're considering, and you have a quite period for that. That's very good.
Unknown Executive: However, there is not much to do with candy. It's very busy.
E mail equal, that's where the us economy, fetal mindshare and Sage hanzo share adult.
Unknown Executive: It's very easy to understand an English company website to demonstrate its in-house capabilities. So, this misunderstanding is very easy to happen.
Tony: Hi, Tony.
Tony: Total knees I, England that goes along down that got in Shanxi constant knee with extra dawned on me. So I don't want you in an agile fashion.
Unknown Executive: Okay, thank you.
Speaker Change #229: Okay. Thank you. So we all know obviously that Kandi stock is extremely undervalued, especially even though its a highly integrated med major manufacturer. So a few conference calls back a question was asked as to what percentage of the cost.
Unknown Attendee: So we all know, obviously, that Kandi stock is extremely undervalued, especially, even though it's a highly integrated major manufacturer. So, a few conference calls back. A question was asked as to what percentage of the cost of a typical Kandi vehicle, for lack of a better term, such as a golf court, was actually manufactured by Kandi in its own multiple state-of-the-art facilities throughout whatever cities in China and now Taiwan. I believe at the time you said that a short management reply was somewhere around 90%; could you go ahead and translate like that?
Speaker Change #229: What market does the lucky nine address?
Speaker Change #230: A typical candy.
Vehicle for lack of a better term such as a golf course was actually manufactured by candy and its own multiple state of the art facilities.
Speaker Change #230: Throughout whatever cities in China and Taiwan.
Speaker Change #231: 作为Kandi的高端车Lucky T9,这款车卖19000,您觉得这个车所针对的市场是什么样的市场?
Speaker Change #231: I believe at the time, you said that a short management reply with somewhere around 90%.
Speaker Change #232: 然后最后问题呢就是说在很多年前 康尼有一款90比例的燃气三轮摩托车 这辆车呢与Polari北极星Spider非常相似 前面你认为推出这款三轮, 三轮版的车是否会有骑行爱好者的这种销售品,你对此车有什么有何计划?
Speaker Change #232: Could you go ahead and translate that.
Speaker Change #233: And I definitely think questions okay.
Speaker Change #234: Sure I'll go fishing gallons or more tangled sheets or not so you cannot.
Speaker Change #233: Yes.
Speaker Change #233: Hum.
Speaker Change #233: Fever.
Speaker Change #233: Hum.
Speaker Change #235: I'm not.
Speaker Change #233: Sure sure.
Speaker Change #233: One she social ones all countries.
Speaker Change #236: <unk> feels like a golf would play out and just get your thoughts sure that sounds good toilet, you'll you'll buy a bunch of warehouses that woman for T that Shanghai TD Lashawn, China bounce you wont see the Oklahoma tornado hail dashboard that got bought and future sure.
Unknown Attendee: And I think my three questions.
Unknown Attendee: Okay. Go ahead. Thank you.
Speaker Change #237: Go ahead.
Speaker Change #238: Thank you and then I've got three quick related questions was that 90% response accurate.
Unknown Executive: Now I've got three quick related questions. Was that 90% response accurate? And if so, can you briefly tell us for the record about each of Kandi's own various facilities? Specifically, where they are located, what kind of products were made in each facility? And also, can you comment about the current percent of capacity being used in each facility and the maximum annual capacity available at each facility?
Speaker Change #239: And if so can you brief you briefly tell us for the record about each of candies owned various facilities, specifically, where they are located what kind of products are made in each facility and also can you comment about the current percent of capacity being used in each facility and the <unk>.
Speaker Change #239: Excellent annual capacity available at each facility.
Unknown Executive: Okay. So, my first question is, I want to answer the 90% question. If you think about the current percent of the capacity being used in each facility, then you can think about the current percent of the capacity being used in each facility, and the current percent of the capacity being used in each facility in each facility.
Speaker Change #240: Okay. So you want the deal than yours, Shellman functional laid out a five machine tool show to show them inside cities, Shanghai kidney machine time, James a thoughtful shuffle guys you summed it up well if it comes with a high 19 Chevron younger Shanxi, that's yeah sure Yeah County soil for Cheetah, Shanghai sure sure sure sure.
Speaker Change #240: 我先回答一下第一个问题, 从那个产品规格的角度看 Innovator和CodeBoy,两个UTV是同等分别。 那麼這兩款車型主要是造型 然后目标的客户群, Innovator拥有更时尚的外观,往往会吸引社区的目光。 COBOY的戶外風格更加粗獷,專為獵人和越野車用戶量身打造,我們的目標是為各種零售細分市場開闢道路。 另外,Coboy主要是在Lowes中銷售,Innovator近期會投放到Costco中銷售。 So, as for the question between the innovator and cowboy, from the product specification perspective, they are pretty much on the same pier.
Speaker Change #240: It's just the two models, they are in different styling or outlook, and in order to target different customer groups, and that's pretty much the crux of it. The innovator, as you may know, has a more fashionable appearance and tends to attract the community with the better outlook, whereas the cowboy has a more outdoor style and is tailored for hunters and off-road vehicle users.
Speaker Change #240: Our goal is to expand the market for various retail sets.
Speaker Change #240: Got it that's what's that D. How many English sometimes G D sweat Shenzhen, Shanghai natural Elk hunting.
Unknown Executive: And then, their annual capacity, their largest annual capacity, and their capacity, and the current percent of the capacity being used in each facility in each facility.
Speaker Change #240: Having the <unk> yeah yeah.
Speaker Change #240: Hum.
Lynn: Lynn Manhattan.
Lynn: Turn off all the time.
Lynn: The only I E G. Joe Shan, our judicial Bay pinching of shoes Xiang.
Lynn: Yes, yes.
Lynn: Yeah.
Speaker Change #242: Oh man.
Unknown Executive: So, our Kandi is located in Hainan District, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center, and also is located in the city center. So, first of all, the Kandi's China-based mainly produces the gold cards and other spheres of the models.
Speaker Change #243: We're currently is that financially.
Speaker Change #243: Also sometimes call it what you will see that attrition number there.
Jim Josephson: Jim <unk> Josephson as an officer, if you eat smart answer doesn't <expletive> assertion.
Dr. Joseph: The young country, Dr. Joseph <unk>.
Dr. Joseph: I think 100.
Dr. Joseph: And what challenges. It is the answer that you didn't see it gives us a period of time.
Speaker Change #246: I don't want to go kind of go through your wheel.
Dr. Joseph: Yeah.
Dr. Joseph: So there's some money, but in the US and then let me see.
Dr. Joseph: Yeah.
Dr. Joseph: So.
Dr. Joseph: And in addition, our board is mainly sold in Lowe's, whereas the Innovator will be sold in Costco in the near future.
Dr. Joseph: First of all.
Speaker Change #247: <unk> tightened unsafe mainly okay.
Speaker Change #247: Golf Club, if Odyssey yourself the borders.
Speaker Change #247: Thank you.
Speaker Change #247: 字幕由Amara.org社区提供, 他第二个问题就说我们的那款高端车Lucky TG 他这款车呢卖好像是一万九 他说他问这款车 嗯的这个所针对什么样的销售市场 什么样的人, T9是一款運動型的沙灘車 我們在早期的時候就獲得了一些比較積極的評價 我們對市場的反應 那么T9这一环是一个运动型的沙滩车,我想它针对的一些市场和用户,主要是偏向运动的,然后越野的这一类的环境。 用戶愛好者, So, this product tonight, as you may know, is an outdoor sports trike.
Unknown Executive: Our gene card base mainly produces the UTV, ATVs, the beach cards, and other spheres of the models. Our Jungtang base mainly produces the motor and electronic control products and the parts. There's our Jungtang base mainly produces the leaf re-batteries of better tech products.
Speaker Change #247: Jude puppy, mainly perfuse the U T B E T vs. The beach called Addis yourself, the borders or you won't have base medical visit the motor and electronic.
Speaker Change #247: The market is really for those, the outdoor and the sports fans in the market.
Speaker Change #247: Thank you.
Speaker Change #248: Product and support.
Speaker Change #249: There are like Java C pace, maybe produce at least three batteries decorative type product.
Unknown Executive: Overall, Kandi has an annual production capacity of more than 100,000 various types of vehicles and little parts. Thank you.
Speaker Change #250: Oh, all can be it has an annual production capacity of more than 100000 types of vehicles.
Speaker Change #249: Right.
Speaker Change #249: Okay.
Speaker Change #251: I'm not going to charge you by vintage It was said that I think absolutely being against the things Trevor.
Speaker Change #251: 那關於第三個問題,就是我們幾年前的一款這個藍皮的三輪摩托車。 我们康迪一直都在创新和优化我们的产品,那么目前我们的工作重点还是越野休闲车,谢谢。 As for the models you mentioned in the past, you know, those are the old models in our line and we keep innovating and produce more up-to-date vehicles that match the target in the customer segment market.
Unknown Executive: And by the way, you know, it's correct that our own manufacturing rate of the Kandi product does exceed 90 percent.
Speaker Change #251: Oh and by the way you know, it's correct that Oh manufacturing right off the cabinet product.
Speaker Change #251: 90%.
Unknown Attendee: Thank you. How did curiosity come up if it's possible?
Yeah.
Speaker Change #252: I had a curiosity.
Speaker Change #252: Right now we focus on the leisure, outdoor, off-highway vehicles.
Speaker Change: Our financial position remains strong with cash and cash equivalent, restricted cash, short 2024. We actively excluded our share repurchase program, buying back $673,896 shares at an average price of $2.25 per share, reflecting our confidence in the company's future and our commitment to enhancing shareholder buy.
Speaker Change #252: Since it's possible if one wants to go and do a total replacement of your facilities and equipment.
Unknown Attendee: If one wants to go into a total replacement of your facilities and equipment, do you have any estimate of what the total cost would be in US dollars that someone would need to invest to replicate all of your facilities and equipment? Hi, do you mean any one of the facilities or all of the facilities we are going to replicate in the US? All of your facilities. I'm just trying to get a sense of what it would take if some third party came in and wanted to do what Kandi is currently doing. What kind of cost would it be to them to replicate all of your current facilities and equipment without regard to where they're located?
Speaker Change: [inaudible] and from an outside article we now see that a second version is a side-by-side E-10K cowboy called the innovator E-10K along with the new $19,000 electric off-road vehicle called the Lucky 9.
Speaker Change #253: Do you have any estimate of what the total cost would be in U S dollars and someone would need to invest to replicate all of your facilities and equipment.
Speaker Change: A few questions I have the F.
Yeah.
Speaker Change: First, could you please explain what sort of batteries are and how big the market could be?
Speaker Change: Go ahead.
Speaker Change #254: And Ah Hi, do you mean, just any one off facilities, where all of the facilities, we are going to replicate in the U S.
Speaker Change: Okay.
Speaker Change #254: Thank you.
Speaker Change #254: Are all of your facilities I'm, just trying to get a sense of what it would take some third party came in and wanted to do what Kandi is currently doing what kind of cost would it be to them to replicate all of your current facilities and equipment.
Speaker Change: The start of battery refers to the particular battery used to stop the battery.
Unknown Speaker: Can you tell us a little bit more about the Monday announcement of the manufacturing agreement with Taiwan-based half-port? Kandi has plenty of access manufacturing capacity in-house, and normally would not need to add significant capacity right now. So either this deal is being done as inferred in the first paragraph of the Monday announcement. It's all necessary manufacturing standards, regulatory requirements and local content, thresholds for the both US and production in Taiwan. Or Kandi is going to need all discount access capacity to make and deliver enough product to reach its 2025 goal of 500 million revenue.
Speaker Change: We are still in a rather early stage of the RID and we are conducting the market research.
Speaker Change #254: Regards of where they're located.
Unknown Executive: I said that it would be great if one third party came in and wanted to do what Kandi is to do in the US.
Speaker Change #255: Actually it has how do you how how to high school or you'd be sometimes don't get hungry cultures that make once in Oh boy a.
Speaker Change: According to the information available, the global automotive started battery market so it was reached the RMB 1503 billion in 2003 and expected to reach RMB 206 billion by 2030 with a compound and a growth rate of roughly 3.3%.
Unknown Executive: If we want to make all of our current facilities and equipment and equipment available in the US, we have to make sure that we have a large investment in our facilities and equipment. That's what we're going to do. We're going to make sure that we have a large investment in our facilities and equipment and equipment available in the US.
Speaker Change #255: Yes, possibly a walkman, Daniel Zhang with us because Uh Huh Denali flush yeah sure. They all play on the fortunate man.
Speaker Change: Thank you.
Speaker Change #255: Oh gosh, Yeah, Jamie to me you got hot sauce, Yeah, Y'all y'all, you'll do without a culture.
Speaker Change: The next two other questions.
Speaker Change #255: Sakai.
Speaker Change #256: And all of that I don't understand that okay.
Speaker Change #257: You guys. So much for example, you go to say, yes to that.
Speaker Change: What would be the competitive all electric off-road vehicle and the water sports product from the press release?
Unknown Speaker: Which is it, or is there any algorithm? Kandi also needs to use all the current manufacturing standards, and deliver enough product to reach its 2025 goal of 500 million revenue.
Speaker Change #257: I may call, Jim Goss segue deep Bobo Bobo cause that's quite all right. That's it for me it seems like when you call to tee those up towards the nothing new signs for life types at all.
Unknown Executive: We're going to make sure that we have a large investment in our facilities and equipment. We're going to make sure that we have a large investment in our facilities and equipment, so it seems from the dramatic standpoint it's not quite feasible to replicate the whole of the facilities from China to the US. Although we are considering to have an exemplary part of the lines in the US in the future.
Speaker Change #257: Yeah.
Speaker Change #258: Thank you very much.
Speaker Change #258: So it seems from the cosmetic standpoint, its not quite favorable lubricate the whole facility from China to U S. Although we are considering who have assembly.
Speaker Change #258: Palo Verde line use in the future.
Unknown Executive: Whereas the holder over a budget, it's hard for us to tell now, and we have to look at our budget.
Whereas the old or the overall budget.
Speaker Change #259: Hum Watson health now and we'd have to look at some other things so finance, but not all of it.
Unknown Executive: Thank you.
Speaker Change #259: Thank you.
Speaker Change #261: Okay and element.
Speaker Change #261: Our next question to the line of Mark Kahnau, a private investor.
Unknown Attendee: I'm not sure if I broke up or I just didn't understand that 90% number back from your previous answer in terms of what percent of a typical golf cart is actually made by Kandi versus products required from outside. Is 90% still an accurate percentage?
Not sure I am not sure if I broke up or I, just didnt understand that 90% number back from your previous answer in terms of what percent of a typical like a golf cart is actually made by candy versus products acquired from outside is 90% still an accurate percentage.
Speaker Change: And will Kandi soon be offering 3A along with the AA with the batteries and can these batteries use any size compatible charger where it must be a specific branded charger?
Speaker Change #262: It is yeah. It is.
Unknown Attendee: Okay. And then my last question is, you're trying to base website quite frankly seems to be outdated in that its images and videos are still heavy on evietos and trucks.
Speaker Change #263: Okay and then my my last question is your China based website quite frankly seems to be outdated and that its images and videos are still heavy on.
Speaker Change #263: On EV autos and trucks, what about updating that site and on all of your web sites and this is related to my to the previous questions can you at least create a powerpoint presentation on your state of the art manufacturing facilities and capacity, so people who have questions about candy and in terms of.
Unknown Attendee: What about updating that site?
Unknown Attendee: And on all of your websites, and this is related to the previous questions, can you at least create a PowerPoint presentation on your state-of-the-art manufacturing facilities and capacity. So people who have questions about candy and in terms of how much you're actually manufacturing versus how much you're obtaining from third parties and then putting on your label exists. I think that would be actually quite helpful and counteracts some of the claims out in social media.
Speaker Change: Thank you.
Unknown Speaker: So expanding to Taiwan is a strategic move for us to enhance our supply chain. The main purpose is to add value to our existing products and further enhance and strengthen our market competitiveness.
Speaker Change: The next two questions are questions.
Unknown Speaker: Thank you. Okay, I understand and that's my last question.
Speaker Change #263: How much you're actually manufacturing versus how much you're obtaining from third parties and then.
Speaker Change #263: Putting on your label exam.
Speaker Change #264: Exactly I think that would be actually quite helpful and counteract some of the claims out in social media and that's all I've got thank you.
Speaker Change: What is the standard electric off-road vehicle and water sports product? What is the standard electric off-road vehicle and water sports product from the press release? The standard electric off-road vehicle and water sports product from the press release?
Unknown Speaker: And this report today, you mentioned the low deal, which is quite important for you as a company.
Unknown Attendee: And that's all I've got.
Unknown Executive: Thank you.
Speaker Change #265: Thank you and have a bunch of non households was kinda comedy that drilling work well I'm not sure he or she of course I can tell me about it and that will pay off shipping I actually don't see sure okay.
Speaker Change: The second question is related to the A&A and the A&A.
Unknown Speaker: Maybe now specifically to the U.S, management team. Have there been any discussions about the size of the deal? So, you know, how many, how many UTVs or whatsoever, and how many years this is going to be in the market, this deal that could give a very good insight for the future figures as a guide. So, I think there's a little bit of a little bit of data on what to do with the UTV, or is it possible to give a little bit more information on what to do with it?
Speaker Change: The A&A is to promote the A&A, which is to promote the A&A, which is to promote the A&A, which is to promote the A&A, which is to promote the A&A.
Unknown Speaker: This question will also answer you.
Speaker Change: [inaudible]&A, which is to promote the A&A.
Speaker Change: So, I'm...
Speaker Change #265: Actual April I've seen at homes each issue that gave a hunting insult your claims huh.
Speaker Change #265: So you can we don't roll off how should we all kind of I'm sure sure. It's a combo of long guns O'shea.
Speaker Change #266: I mean, I can see no not really.
Speaker Change #267: And he'd be able shall I.
Speaker Change #268: They shall mine jumna, yet J P. P. P J Schiff lights, and she's on guar woman, though cause Oakland condo sure sure China down the Hot hand uncle. He wishes you like I said many of them are going through that same kind of leap I'm, Rachel Shea Schulman says from China Doll House your button in Shanghai under Brian So she's I won't kind of yowie athlete who doesn't interest.
Xueqin Dong: 再次歡迎大家參加今天的電話會議。我們很高興地向大家匯報,康迪集團在第二季度的表現延續了穩健的增長勢頭。本季度我們實現了總收入3910萬美元,較去年同期的3600萬美元增長了8.9%。主要的增長動力來自於純電動非公路車和相關零部件的銷售收入,同比增長了11.3%,達到了3470萬美元。再次歡迎大家參加今天的電話會議。我們很高興地向大家匯報,康迪集團在第二季度的表現延續了穩健的增長勢頭。本季度我們實現了總收入3910萬美元,較去年同期的3600萬美元增長了8.9%。主要的增長動力來自於純電動非公路車和相關零部件的銷售收入,同比增長了11.3%,達到了3470萬美元。我們在美國市場的擴展取得了顯著進展。新產品的推出為市場注入了新的活力。與此同時,我們通過與Lowes的獨家合作,8月底開始,NFL授權的特別版高爾夫球車將正式投放美國市場。這展現了我們的創新能力,也為球迷提供了一種環保且充滿激情的方式來展示他們對球隊的熱愛。我們在美國市場的擴展取得了顯著進展。新產品的推出為市場注入了新的活力。與此同時,我們通過與Lowes的獨家合作,NFL授權的特別版高爾夫球車將正式投放美國市場。這展現了我們的創新能力,也為球迷提供了一種環保且充滿激情的方式來展示他們對球隊的熱愛。我們在本季度保持了強勁的財務狀況。截止到6月30日,現金及現金等家物受限現金,短期投資及存款總額達到2.196億美元。此外,我們積極執行股票回購計劃,回購了67萬3896股股票,平均價格為每股2.25美元。這一舉措體現了我們對公司未來發展的信心,並表明了我們致力於提升股東價值的堅定承諾。我們的財務狀況仍然堅定,現金及現金等家物受限現金,短期投資及存款總額達到219.6億美元。截止到6月30日,現金及現金等家物受限現金,短期投資及存款總額達到2.196億美元。此外,我們積極執行股票回購計劃,回購了67萬3896股股票,平均價格為每股2.25美元。這一舉措體現了我們對公司未來發展的信心,並表明了我們致力於提升股東價值的堅定承諾。在全球擴展方面,我們取得了顯著進展。10K純電動UTV獲得了EEC認證,為進入歐盟市場鋪平了道路。同時,我們在亞洲也開拓了康提產品的市場,進一步擴大了我們的國際市場份額。展望未來,我們將繼續專注於擴展我們的產品組合和市場佈局,特別是在美國和歐洲市場的進一步擴展,並通過持續的產品創新和市場擴展來驅動未來的增長。謝謝。在全球擴展方面,我們取得了顯著進展,包括在10K純電動UTV獲得了EEC認證,為進入歐盟市場鋪平了道路。同時,我們在亞洲也開拓了康提產品的市場,進一步擴大了我們的國際市場份額。展望未來,我們將繼續專注於擴展我們的產品組合和市場佈局,特別是在美國和歐洲市場的進一步擴展,並通過持續的產品創新和市場擴展來驅動未來的增長。現在開始問答環節。我和胡曉明董事長以及SC公司的CEOJohnny和北方集團公司的CEOOrlan一起將回答大家提出的問題。柯娃和林正明先生會對英文的問題提供翻譯。請大家開始提問吧。現在我們將繼續問答環節。我和胡曉明董事長以及SC公司的CEOJohnny和北方集團公司的CEOOrlan一起將回答大家提出的問題。柯娃和林正明先生會對英文的問題提供翻譯。請大家開始提問吧。現在我們將繼續問答環節。我和胡曉明董事長以及SC公司的CEOOrlan一起將回答大家提出的問題。請大家開始提問吧。現在我們將繼續問答環節。我和胡曉明董事長以及SC公司的CEOOrlan一起將回答大家提出的問題。請大家開始提問吧。現在我們將繼續問答環節。我和胡曉明董事長以及SC公司的CEOOrlan一起將回答大家提出的問題。請大家開始提問吧。在Q1公開會上,CEO說,我們將推出新的開發電池並提供更多競爭性的電動水運產品和電動水運產品。在Q1公開會上,CEO說,我們將推出新的開發電池並提供更多競爭性的電動自行車產品和電動水運產品。在Q1公開會上,我們將推出新的開發電池並提供更多競爭性的電動水運產品和電動水運產品。Andfromanoutsidearticle,wenowseethatasecondversionoftheside-by-sideE10KCowboycalledtheInnovatorE10K,alongwiththenew$19,000electricoff-roadvehiclecalledtheLuckyNine.
Olin Rice: 我問了這個問題,最近我訪問了一家在Galveston的購物商店,還有一家高爾夫球場,他們會很高興買一批NFL卡,即使他們要從Lowe's購買,我想知道您的計劃。是的,在Galveston,我們可以在一般計劃中獲得這項卡。我們可以在一般計劃中獲得這項卡,我們可以在一般計劃中獲得這項卡。這對於我們的計劃來說,是一個很重要的因素。所以我想知道您的計劃。是的,我可以回答這個問題。我們目前為六位客人提供卡,我們目前為六位客人提供卡,我們也與他們在線上有非常堅固的生意,我們也與他們在線上有非常堅固的生意,並且在線上有其他其他類別的服務。在腐敗其他顧客的生意,在腐敗其他顧客的生意,尤其在樓上,這對於不願意評價,因為這大概是一種永續發展的過程。因為這對於不願意評價,因為這大概是一種永續發展的過程。因為這大概是一種永續發展的過程。這不是我的問題,我的問題就和NFL有關。[inaudible]Sportsasyouwellknow.
Speaker Change: I'm sorry, can you repeat your second question about Lucky T9?
Unknown Attendee: AfewquestionsIhavetoask.
Olin Rice: Sothatwasthebasisofthatquestion,actually.
Unknown Attendee: Couldyoupleaseexplainwhatstarterbatteriesareandhowbigthemarketcouldbe?
Olin Rice: Yeah.
Unknown Attendee: Goahead.
Olin Rice: Okay.
Speaker Change #268: Did you go with that okay.
Unknown Attendee: Okay,thestarterbatteryreferstotheparticularbatteryusedtostartavehicle.
Olin Rice: IfIunderstandyourquestion,Imean,rightnowtheagreementisaround4PcartandanyNFLproductsthatareobviouslythataregoingtobemarketedaregoingtobemarketedVLOsbecauseoftherelationship.
Speaker Change #268: Okay.
Speaker Change #268:
Speaker Change #268:
Oh no.
Speaker Change #268: So the decisions.
Speaker Change: Yeah, the guess strike.
Speaker Change #270: The travel and tourism Tilton, I don't Wanna Highway chamber tissue wise that tissue.
Olin Rice: SoI'mnotsureifthatanswersyourquestiontotally,butthat'soursituationtoday.
Speaker Change #270: Yeah.
Unknown Attendee: Thank you for your suggestion, and the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, the feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback, feedback Please continue.
Speaker Change #271: Thank you for your suggestions and feedback they're very constructive.
Speaker Change: Is that you had that years ago in your line, it was similar to the Polaris fighter?
Johnny Tai: We're going to have a deal of Kandi America, John, to answer your question. But if you can be more specific about what you like to know, and that will be, that will be really good. Oh, yeah, of course. You know, I mean, if you're signing such a deal, lows as well as Kandi, you know, they must have some idea how many UTVs of this kind could be brought to the market, or so it, or being so it, you know, because Kandi has to be prepared, production wise, and lows has to be prepared, you know, distribution wise.
Olin Rice: ButisitsomethingthatyoumighthaveaninterestindoingorpresentingVLOstomaybehavethatorwoulditbejusttoodifficulttorekey?
Speaker Change #272: We have actually been working on already it just that you know most of those items and of course, we will further improve them.
Speaker Change: No, no, the second question, the third question you said is the high end vehicle Lucky T9?
Speaker Change #272: What basketball two O.
Speaker Change #272: That's it thank you.
Speaker Change: Yeah, high end candy I mean, in many years ago, there was a 90-year-old man riding the Polaris fighter who was riding the Polaris fighter very similar time ago, do you think that the third question was there any news about Lucky T9?
Speaker Change: What is your plan for this car?
Olin Rice: Itseemslikebasicallyyou'reputtingawraponanexistingproductthatwealreadyhaveandputtingalogoembroideredintotheheadrestandgettingmaybeacoupleofthousanddollarsmorefortheequivalent.
Olin Rice: Itwouldjustseemlikeitwouldgohandinhandanddidn'tknowwhetherthathadbeeninthediscussionyet,butifnot,maybeit'ssomethingworthwhilediscussing.
Speaker Change #272: Thank you.
Fred pressure: Our next question is from the line of Fred pressure with clean Tech investments.
Speaker Change #275: With your questions.
Fred pressure: Good morning.
Fred pressure: Good morning, everyone.
With existing outlets in North America.
Speaker Change: I'll answer the first question.
Johnny Tai: So, I would think that there must have been some discussions about how many UTVs of this special NSL license UTVs could be sold, or the market is willing to accept. Okay, very good question, you know, and I think I'm going to answer that first, and then I will invite my colleague, you know, all into a way in as well. Yes, we do have a, you know, like discussion, regular meeting, you know, which lows to discuss, you know, what the market looks like, and we understand the market is quite, you know, challenging right now, with all the economic, you know, climate, such as inflation.
Speaker Change #276: Which we are we know include Lowe's 2500 outlets Walmart 45, right now.
Kewa Luo: TheNFL,wehavealicensetosellitfromthegolfcart.
Olin Rice: Thatdoesn'trequirearesponseunlessyouwanttorespondtoit.
Speaker Change #277: That's <unk> and.
Speaker Change #277: Campers World Costco, Canada, 108 outlets National Big box stores, along with PV, Mark Slash Ace hardware, Canada 200 outlets.
Speaker Change: From the perspective of the United States, in a vehicle and co-boy, two U.T.V, is the same company.
Kewa Luo: It'snottheUTV.
Olin Rice: Listen,I'llsaythis.
Olin Rice: Weobviouslyareinterestedinexpandingassuccessfullytheprogramdictates.
Speaker Change #277: All but lowes added in the past year with a baby, yes, 1000 independent outlets.
Speaker Change: [inaudible] In order to target different customer groups, that's pretty much the crust of it.
Speaker Change #277: Let me introduce myself for a short time here.
Speaker Change #277: Unfortunately, little announcements from the company.
Unknown Attendee: WearestillinaratherearlystageoftheR&D,andweareconductingthemarketresearch.
Kewa Luo: So,rightnow,youknow,it'sactuallyavailabletoorderonLowe's.com.
Speaker Change #278: I want to start that care.
Speaker Change #278: I'm a Swiss based independent wealth manager and broker for 30 years.
Speaker Change #278:
Speaker Change #278: Excellent.
Speaker Change #279: Well Munching Angeles yet.
Speaker Change #280: Cinderella Hunt was what economy wasn't Yahoo, do they sell for the home with all of that Twonk laundry Hello, Cecilia Al Shams younger fashion elements, you have mail or something I've seen one like I'm sure many days English.
Speaker Change: The innovator, as you may know, has a more fashionable appearance and tends to attract the community with the better outlook, whereas the car boy has an outdoor style and is tailored for hunters and off-road vehicle users.
Johnny Tai: So, I think that we carefully reviewed the market, and then also we determined, you know, how many stores, how many inventory we would like to, you know, bring in. So, I think that's, you know, we still have a lot of, you know, discussion going on with lows. Yes, I would like to wait in. I was unmuting. You guys hear me? Yeah, so to Johnny's point, we are in weekly, several times a week, conversations with the three-year-long panel.
Unknown Attendee: Accordingtotheinformationavailable,theglobalautomatedstarterbatterymarketsalesreachedtheRMB$163billionin2003,andisexpectedtoreachRMB$206billionby2030,withacompoundannualgrowthrateofroughly3.3percent.
Olin Rice: SoIthinkthateverythingcouldbeonthetable,butatthispoint,we'resoearlyintotheprogram.
Speaker Change #281: She's off to the team.
Speaker Change #282: Please continue.
Unknown Attendee: Just since the last conference call, it appears from sources several new international outlets have been opening to include a very impressive, which we talked about, the Southeast Asia Thailand location, along with the Ruba Curacao Dominically Public in Dubai. And even now in the EU market, go ahead, Kewa, and then my questions. My question is outside of the US and Canada: how many international locations have been opened and are soon to be opened? In other words, a number or a close number. That's my first question. I just want to know, in addition to the US and Canada, how many international locations have been opened?
Speaker Change #283: Cash since the last conference call it appears from sources.
Speaker Change #283: And I've been in Kenya with several million shares in position and a multi-year participation in these conference calls.
Speaker Change #283: I could never comprehend, let alone expect to see the NASDAQ stock in such a strong and timely position as Kandi, trading at a 40% discount to cash, 65% discount to book value, and at a 13 years low price.
Speaker Change: Our goal is to expand the market for various vehicles.
Speaker Change #284: Kewa, could you just go ahead?
Speaker Change #284: Several new international outlets have been opening.
Unknown Attendee: Thankyou.
Kewa Luo: So,Ithink,yeah,IagreewithwhatOlinmentioned.
Olin Rice: Ithinkwe'regoingtoplaywiththe4PandthenI'msurethattherewillbeconversationsifthisistremendouslysuccessful.
Speaker Change #285: To include a very impressive, which we've talked about the southeast Asia, Thailand location.
Speaker Change #285: Along with Aruba, Curacao, Dominican Republic in Dubai.
Unknown Attendee: Thenexttwootherquestions.
Kewa Luo: Thankyouforyourquestion.
Olin Rice: Sure.
Speaker Change #285: And even now and then.
Unknown Attendee: Whatwouldbethecompetitiveall-electricoff-roadvehicleandthewatersportsproductfromthepressrelease?
Unknown Attendee: Okay,thenthat'sitforme.
Speaker Change #285: Humor EU market.
Speaker Change: In that vision, how far if many so-in-loads or if the innovator will be so in hardcore in the near future?
Speaker Change #285: Kewa?
Go ahead cooler Q&A my questions.
Unknown Attendee: AndwillKandisoonbeoffering3AalongwiththeAAlithiumbatteries?
Speaker Change #285: Some of it sounds you like condos, you'll show imagine Hudson's at all Oh I'm Dorothy she is from a donor yeah Nico.
Make a trombone launches yet.
Speaker Change #286: So should you a quick answer Lucia hunting and up.
Continue please.
Speaker Change #286: 这个投资人他说他先介绍他一下 他说他是一个有多年经验的一个, 股票股票交易员 他就是参加我们的跟踪我们的公司股票已经很多年了 也多次参加我们的电话会议 他就是从来就不很难的理解我们公司为什么这么的股票 这么被这么严重的被低估 就是我们的账面价值大大超过于我们的股票的价值, Go ahead.
Speaker Change #287: Okay. My question is outside of the U S and Canada.
Speaker Change #287: Okay.
Speaker Change #287: Actually how many international.
Locations have been opened.
Speaker Change: Thank you.
Johnny Tai: That's the extent of the contract at this point. So we thought we are going down to path in a week. To put a hard number on it right now, I would have a very hard time putting hard up. There are certainly very high expectations among all three people involved. Johnny, if you feel better about specific, happy to do that, but I just don't know that now we do have very high expectations. Impact, Kandi as a company. I don't stop there.
Speaker Change #287: On the last conference call, a discussion came up about Kandi targeting to spin off as a separate NASDAQ company, its US subsidiary, Kandi America, later this year.
Olin Rice: Aswejustdiscovered,thisisathree-yeardeal,whichmakesitthatmuchmoreexciting.
Olin Rice: I'msureitdoesforyouaswell.
Speaker Change: The second question is about Lucky T9, which is $1,000.
Speaker Change #287: And our soon to be opened in other words.
Olin Rice: Anyway,onthelastconferencecall,managementrespondedtoatargetquestionoriginallyaskedontheconferencecallin2022,confirmingitstillhadahigh-endgoalofpossiblyachievingasmuchas$500millioninrevenuesfor2025. ButIsuspectthatnumbercertainlywouldhavegottenlowernow,butstillaprettyimpressivenumberbecauseoftheeconomyingeneral.
Oh, a number alright.
Speaker Change #287: Alright close number.
Speaker Change #288: That's my first question or this or they count you've asked is there a chance that more tangible I make all her job.
Olin Rice: Butthat'salongwayfrom$120millionormaybe$200million,$210millionwe'lldothisyear.
Olin Rice: Anyway,let'ssee.
Speaker Change #289: Sure sure well then we'll change that.
Olin Rice: I'mjustlookingatsomenotesIhaveoverhere.
Speaker Change #290: I think what you're doing how go longer ink I shall answer sure what shall I go to T was answered all of your particular shortly.
Unknown Executive: I want to know the number of international locations. So apart from our US and Canada market, we are also exploring the European and Southeast Asia market. We are currently working in more than a dozen countries for the trials sales.
Olin Rice: Oh,oneotherpointIwantedtobringtoyourattention.
Speaker Change #289: Yeah.
Speaker Change #289: Yeah.
Sure.
Speaker Change #291: So again I'm not sure what it will do.
Johnny Tai: Well, thank you, Olin. I think you, you, I think you are a little bit, you know, breaking up, but I think I want to make a, you know, correction. It's a, the NFL, we have a real license to sell it from the golf cart. It's not the UTV. So right now, you know, it's, it's actually available to older, on low.com. So I think at, yeah, I agree with what Olin mentioned. Thank you for your question. Okay, then that it for me just, yeah.
Speaker Change #291: Was that auto.
Sean: Onto the digital catalyst with him and I'm going to say Oh Amazing Citigroup with John This is Sean.
Sean: Yeah.
Speaker Change: What kind of sales market is this? This product, as you may know, is outdoor. The market is really for those outdoor and sports fans in the market.
Speaker Change #294: There was discussion that the most Kandi could spin off and maintain full rights of consolidation of financials is just under 20%.
Speaker Change #294: So apart from O U S and Canada market, we're also exploring the European and South East Asia market.
Speaker Change #294: But to make this possible due to the NASDAQ requirements of a minimum price per share of $4, and 60 Million Market Cap, Kandi itself would have to have a delete.
Speaker Change #294: $4 plus price per share to meet NASDAQ listing requirements, for the subsidiary, but higher to assure the IPO doesn't go down on the first day of trading.
Speaker Change #294: What was suggested on the last call was for the company to just do a simple 10 million share tender offer at $3.50 a share.
Speaker Change #294: $1.50 on a buck value, costing no more than 50% of Kandi's cash.
Speaker Change #294: This announcement would call for an immediate increase in bids due to a betrayalous bidding at least $3 to $3.40 against the $3.50 tender price, which is still well under the $5 book, that each share bought under the book value will increase the remaining book value per share by the difference between the purchased price and the book value.
Speaker Change: As for the models you mentioned in the past, those are the old models in our line and we keep innovating and produce more up-to-date vehicles that match the target in the customers' segment market.
Speaker Change #294: So if the non selling holder gained 150 to 15 million in book value for each 1 million plus share purchase, it alone would be a great win, the response to this question on the last conference call from the COO.
Speaker Change: But right now we focus on the larger outdoor off-hival vehicle.
Speaker Change #294: We currently are working in more than a dozen countries for the trial service. Thank you.
Olin Rice: Iguessyou'reprobablyawareofthis,buttheydo,asImentioned,actuallyhaveabout80differentvariationsofyourgolfcartsonLowe'swebsite.
Speaker Change: Thank you.
Speaker Change #294: Thank you for your suggestion, and we really appreciate that, we will take it in consideration and evaluate and react and react properly.
Unknown Executive: Thank you.
Speaker Change #294: But remember at the time that this was set with Kandi trading at $3.
Speaker Change: Thank you very much.
Speaker Change #294: Yes.
Olin Rice: Ofcourse,you'reexclusiveatLowe's.
Unknown Executive: My second question. Have any multi-store chains been targeted for international growth? In other words, large stores change like Walmart and Loose.
Olin Rice: I'mtalkingaboutingeneral.
Speaker Change #295: So now this is even more important.
Speaker Change: Our next question to the line of Mark Kahnau, private investor.
Speaker Change #295: My second question.
Speaker Change #296: And you're in your <unk>.
Speaker Change #296: And there will come my question.
Olin Rice: Butwhat'sinterestingisthereareseveralhundredsoffive-staroftheratingsystemonthesegolfcarts.
Speaker Change: Please see us your questions.
Unknown Speaker: Okay, for just my last remarks for management, especially in China is, you know, there's a good company that's one side and there's a good stock price. And these two things often don't match together. I think when it comes to company, the, the management has done a terrific job over the last years. No, the company float and to strike good deals and to bring the company where it's today. But when it comes to the stock price, I'm going to say that there, there are a little bit lagging behind what, for what reason ever.
Speaker Change #297: Have any multi store chain been targeted for international growth.
Unknown Attendee: Just–yeah?
Olin Rice: Idon'tknowifyou'reawareornot,butyougotanoverall4.5-plusratingifyouaddinallthevariousdifferentcandy-providedproducts,whichisprettyphenomenalandspeaksveryhighlytoatleastthecustomersthathavebeenbuyingthevehiclesthroughLowe's.
Unknown Attendee: Okay.
Olin Rice: That'sarealfeatherinyourcap.
Unknown Attendee: Forjustmylastremarksformanagement,especiallyinChina,is,youknow,there'sagoodcompanythat'sonesideandthere'sagoodstockprice.
Olin Rice: Butanyway,goaheadandpassthaton.
Speaker Change #297: It was large stores changed right.
Walmart Lowe's Oh, thank you.
Unknown Executive: Thank you. You mean internationally, outside of the US? Multi-store chains, big chains, big companies, big stores. I know outside of the US. Yes, for international growth. My question is outside of the US and Canada market, like Loose, Walmart, and Loose. In the international market, we are currently working in more than a decade. This is what I just said. This is the US and Canada market. There are a few big companies that we have never seen before.
Speaker Change: Good morning everyone.
Speaker Change #298: You mean internationally outside of U S any.
Speaker Change: Let me introduce myself for a short time here.
Unknown Attendee: Thesetwothingsoftendon'tmatchtogether.
Olin Rice: Butwhat'syourquestion,Art?
Unknown Attendee: So,Ithinkwhenitcomestocompany,themanagementhasdoneaterrificjoboverthelastyears,youknow,togetthecompanyafloatandtostrikegooddealsandtobringthecompanywhereitistoday.
Olin Rice: Okay.
Speaker Change #298: Multi store changed big change big companies Big stores.
Speaker Change: I'm a Swiss space independent wealth manager and broker for 30 years and I've been in Kandi for several million shares in position and the multi-year participation in these companies calls.
I know outside of U S. Yes.
Speaker Change #298: Yes for international growth.
Speaker Change: I could never comprehend, let alone expect to see the NASDAQ stock in such a strong and timely position as Kandi.
Unknown Speaker: So I would say, you know, one could a little bit, you know, concentrate now a little bit also on the stock price for shareholders and to make the stock a little bit, you know, in the public view that there's more attention about candy and what candy can provide. Candy can do. Then the stock price could go significantly higher from the current position.
Speaker Change #299: 關於上次電話會議時我們討論了康迪計劃 今年晚些時候會將其美國的子公司康迪美國作為一家獨立的納斯達克公司進行分拆的問題, 討論當中提到如果康迪希望保持財務合併的完整權利 最多只能拆分20%以下的股份 但要實現這一目標呢 由於納斯達克的其中一個要求 就是每股最低價格必須為4美元 市值至少在5000美元 康比本身的股价呢必须至少达到每股4美元以上 这样才能满足子公司上市的要求 而且最好更高以确保上市之后 IPO的首个交易日不会下跌 上次电话会议的时候呢 有投资人建议公司可以以每股3块5美元的价格 进行一个简单的1000万股的邀约收购 也就是说比账面的价值要低1块5美元 花费不会超过康迪现金的15% 这一公告将会立即引发套利者的竞价 至少是在3块到3块4之间 以对抗3块5的价格, 邀約價格,這仍然低於5塊的帳面價值,但每股 每買一股低於賬面價值的股票 將會使剩餘的每股的賬面價值 增加購買價格與賬面價值之間的差額 因此如果非賣出持有者 通過購買超過100萬的股票的話 賬面價值將增加150萬至1500萬美元, 這必須是一個就是雙贏的做法 上個電話會議中呢 CEO也對此的回應是這樣的 感謝您的建議 我們非常感謝我們會考慮並做出適當的回應 但是你但是請注意到 當時的時候 Kandi的股票價格 價格在3美元以上 而現在這一舉措會顯得更加重要 因為現在股票比當時低 我有以下几个问题, Go ahead with your question.
Speaker Change #299: I wonder what are truly shouldn't that make well coordinate bills are sound low swarm are down the I'll be honest a lot by Mike Hot Die size, what do you show me Shuffle ETE and then take yet you'll need daily until about my time at all it seems a lot synthetics whatsoever.
Unknown Attendee: Butwhenitcomestothestockprice,Imustsaythattheyarealittlebitlaggingbehindforwhatreasonever.
Olin Rice: Well,thatreallywasn'taquestion.
Speaker Change #299: On Wednesday, Kandi stock opened at $1.66 a share, the lowest price it had traded in the past 14 years.
Speaker Change #299: Does management know any other investment or use of cash better than spending 15% of Kandi's average cash position held over the past few years than buying Kandi stock at a 30% discount to book value?
Speaker Change: It's trading at a 40% discount to cash, 65% discount to book value and at a 13-year low price.
Operator: Thank you for taking my questions. Thank you, operator. We're ready to take next question.
Speaker Change #299: 在周三的時候,康尼的股票開盤價為每股1.66美元,這是在過去14年來最低的交易價格,管理層是否, 知道有比照面价值低30%购买康迪股票更好的投资或现金使用方式,尤其是在过去三年中平均持有的现金位置。 我們知道我們康迪的股價被嚴重的低估了 目前我們正在增加市場營銷和廣告投入 從而去吸引更多的美國投資, We understand that our stock is seriously and significantly undervalued, and we are increasing our budget in marketing and advertising to promote our brand.
Unknown Attendee: So,Iwouldsay,youknow,onecouldalittlebit,youknow,concentratenowalittlebitalsoonthestockpricefortheshareholdersandtomakethestockalittlebit,youknow,inthepublicviewthatthere'smoreattentionaboutKandiandwhatKandicanprovideandwhatKandicando,thenthestockpricecouldgosignificantlyhigherfromthecurrentposition.
Olin Rice: IguessthatwasmoreofacommentthatIhadhereandOlinkindofaskedthefirstpart.
Speaker Change: Kiga, could you just go ahead?
And I saw that just to.
Speaker Change #299: Like why not maybe Ann.
Speaker Change #300: Cause it to kind of check that that's how assortment president Jimmy that.
Speaker Change #299: Right.
Speaker Change #301: So that's all quite cheap.
Unknown Attendee: Thankyoufortakingmyquestions.
Olin Rice: Letmesee.
Speaker Change #302: And they've got cheap Aqua job, there's a typo Tong with Comex houses can you thought that there was a change that it sounds like you can't go back than women.
Speaker Change #303: Yeah, Tycho I'm in that type of game types for sure.
Unknown Executive: So, in US, we do what we've built: the large, scalable retail store chain. However, in other countries, like European countries, we actually tend to work with the distributors instead. And so, that's our plan for now.
Speaker Change #304: So U S. We do what would those are the the large scalable we tell us all chain. However in other countries like that European countries are we at.
Speaker Change #304: Hopefully it can attract more American investors.
Speaker Change #304: Thank you.
Speaker Change #304: Actually tend to work with.
Speaker Change #304: Distributed instead and so that's our clip now thank you.
Operator: Thankyou.
Olin Rice: IthinkIhaveoneortwomoreitemshere.
Operator: Operator,wearereadytotakethenextquestion.
Olin Rice: Thesearekindofpriorthingsthatweresaid.
Unknown Executive: Thank you. Okay, thank you very much.
Speaker Change #304: Okay. Thank you very much a quick question for Johnny if if he could.
Speaker Change #304: Okay, does management still want to spin off Kandi America?
Unknown Executive: I have a quick question for Johnny, if we could. How many stores does he expect the NFL carts to be involved with? So, I'd like to ask Johnny; I'd like to know how many stores will be involved in the sales.
Johnny: How many of those stores does he expect the NFL carts.
Steve Miller: The next question is from the line of Steve Miller with a private investor. Please, we'll see with your questions.
Johnny: Be involved with.
So we're the ones who knows you sound like Johnny has helped you at all Joe <expletive> and NFL.
Steve Miller: ThenextquestionisfromthelineofSteveMillerwithaprivateinvestor.
Speaker Change: Kiga?
Unknown Speaker: Good morning, Kewa. You said in your press release. Thank you. Thank you, operator. We're ready to take next question. The next question is from the line of Steve Miller with a private investor. Please, we'll see with your questions. Today, that the United States is your primary market and that the increased freight shipping expense from China to service your expanding customer base was the reason for the biggest increase in your selling and distribution expense.
Steve Miller: Pleaseproceedwithyourquestions.
Steve Miller: Goodmorning,Kewa.
Speaker Change #305: F L.
Steve Miller: YousaidinyourpressreleasetodaythattheUnitedStatesisyourprimarymarketandthattheincreasedfreightshippingexpensefromChinatoserviceyourexpandingcustomerbasewasthereasonforthebiggestincreaseinyoursellinganddistributionexpense.
Speaker Change #306: So T J ferrar controller to hear Chile, the chiller, John was that loss of that bullish on javelin damn quickly from social.
Johnny Tai: Okay, hey Fred, nice to meet you. Thank you for your question. So, for NFL right now, our plan is only available on loads.com. We do have some discussion with loads to expand to their stores. However, I think they have to look at their space availability. And we know the holiday season is coming up. So, they're in a real state. It's quite busy right now. But right now, it's available on Loads.com. Thank you.
Speaker Change #306: Okay, Hey, Frank Nice to meet you. Thank you for your question.
Speaker Change #306: And if so, does it have any better idea how to get Kandi's stock price up to the price?
Unknown Speaker: Although I can guess this to the reasons for your recently announced partnership with Hartford Industries and Taiwan for manufacturing. Why don't you have manufacturing facilities in your primary market, the United States. Especially as you contemplate spinning off candy America to be an independent publicly traded company. Thank you. Today, the United States is our primary market. We want to ask about the importance of our primary market in the United States and then we'll let Kandi and the United States split up.
Speaker Change #306: very quickly to assist this execution of the spinoff besides the marketing you just mentioned because in the past there was already a lot of PRs and marketing, there was there was missing a little bit figures and this and that.
Speaker Change #306: So there was no big impact with this marketing and the stock price.
Kewa Luo: AlthoughIcanguessastothereasonsforyourrecentlyannouncedpartnershipwithHartfordIndustriesandTaiwanformanufacturing,whydon'tyouhavemanufacturingfacilitiesinyourprimarymarket,theUnitedStates,especiallyasyoucontemplatespinningoffKandiAmericatobeanindependentpubliclytradedcompany?
Olin Rice: OneofthequestionsIhadwas,sinceCandyisgoingtospinoffCandyAmericaasaseparateentity,wouldn'titbewisetobringtheCEOandperhapsOlinonthecallinthefuture?
Speaker Change #307: So for MFA out right now our plan is the only available on Lowes Dot com.
We do have some discussion.
Speaker Change: Okay, on the last conference call, a discussion came up about Kandi targeting to spin off as a separate NASA company its US subsidiary, Candy America, later this year. There was a discussion that the most candy could spin off and maintain full rights of conservation of financials is just under 20%.
Speaker Change #308: Waste lows.
Speaker Change #308: To expand to their stores. However, I think they have to look at their you know space availability and we know the holiday season is coming up. So there you know real estate is quite busy right now so but but.
Speaker Change: But to make this possible due to the NASA requirements of a minimum price to share of $4 and 50 million market cap, candy hotels would have to have at least $4 plus price per share to meet NASA's listing requirements for the subsidiary but higher to assure the IPO doesn't go down on the first day of trading.
Unknown Speaker: The United States is our primary market. Why don't we take our socialization into the United States and take it into the United States and take it into Taiwan? This should be the case. Our United States is also in the primary market. But we don't know why we have to turn to Taiwan. We don't want to talk much about it now. So, we actually are considering our example of our production life in the future.
Kewa Luo: Thankyou.
Olin Rice: Butyoualldidthat,sothereyougo.
Kewa Luo: Thisquestion,hesaidinthenewswepublishedtoday,ThisiswhatIshouldsay.
Olin Rice: Okay.
Speaker Change: What was suggested on the last call was for the company to just do a simple 10 million share tender offer at $3.50 a share, $1.50 on the bulk value, coasting no more than 50% of candy's cash.
Speaker Change #308: It's right now it's available.
Speaker Change #308: <unk> Dot com.
Speaker Change #309: Thank you okay. Thank you.
Unknown Executive: Okay, thank you. That's all. Thank you.
That's all thank you.
Speaker Change #310: Thank you next question please.
Arthur Porcari: Next question, please.
Arthur Porcari: The next question is from the line of Arthur Prokary with corporate strategies.
Speaker Change #310: The next question is from the line of Arthur Porcari with corporate strategies. Please proceed with your question.
Arthur Porcari: This is the other question.
Arthur Porcari: Thank you. Well, I'm really happy to see that Johnny and Owen are on board here. Someone who's been involved in Candies since the very beginning. I also had the honor of being invited to come visit. I think in 2021, whatever the K-23 appeared, I guess being the first shareholder would ever have a chance to test drive it. And I was very impressed with the time, and kind of disappointing that I never had a chance to go, but I can't blame you guys for it. But I can give you those lot of credit for what's happened since then.
Speaker Change #311: Thank you well I'm really happy to see that Johnny and Owen are on board here someone who has been involved in candy since the very beginning.
Kewa Luo: WearealsopreparingtosetupourmanufacturingfacilitiesintheUS,butyouknowwhywewanttomovetoTaiwan.
Speaker Change #311: Also had there.
Speaker Change #313: Honor of being invited to come and visit I think 2020 or 21 whenever they pay 20 transparent.
Kewa Luo: Wedon'twanttodiscussthisrightnow.
Speaker Change #313: Being the first shareholder never had a chance to test drive it and I was very impressed with the time kind of disappointed that never had a chance to go but I can't blame you guys for it but I can give you there was a lot of credit for which what's happened since then and really happy to see all of US joined you Johnny He's a.
Kewa Luo: So,weactuallyareconsideringourproductionlineintheUSinthefuture.
Unknown Speaker: It's a conflict in our plan. So, the collaboration with Taiwan is one of the strategies and we may not disclose too much about that. I'm quite active understatement on social media, especially regarding candy. And there seems to be a campaign against candy by detractors on a lot of internet chat boards claiming that candy is nothing more than a reseller of private labeling of its array of golf carts and various UTVs, ATVs, go carts, other off-road electric vehicles and even lithium batteries made by other manufacturers.
Arthur Porcari: And I'm really happy to see Owen has joined you, Johnny. He's something, a very capable partner and somebody to marshal our assets and investors.
Kewa Luo: It'sdefinitelyinourplan.
Very capable partner in and.
Kewa Luo: So,thecollaborationwithTaiwanisastrategy,andwemaynotdiscusstoomuchaboutthatinthiscall.
Speaker Change #314: Somebody that Marshall our assets as investors anyway, let me get back to my original piece I wasn't expecting to hear but look forward to maybe taking that short drive up to Dallas and visit you all again soon.
Arthur Porcari: Anyway, let me get back to my original piece. I wasn't expecting you here, but look forward to maybe taking that short drive up to Dallas and visit you all again soon. Maybe you don't want to one time.
Kewa Luo: Thankyou.
Unknown Attendee: Allright.
Unknown Attendee: I'mquiteactiveunderstatementonsocialmedia,especiallyregardingKandi. ThereseemstobeacampaignagainstKandibydetractorsonalotofinternetchatboardsclaimingthatKandiisnothingmorethanaresellerofprivatelabelingofitsarrayofgolfcartsandvariousUTVs,ATVs,go-carts,otheroff-roadelectricvehicles,andevenlithiumbatteriesmadebyothermanufacturers. Aslong-timeKandifollowersareaware,thisisafalsenarrative,buteasyfordetractorstosaysinceKandidoesnothaveahigh-profilecorporatewebsiteinEnglishthatshowcasesitsin-housecapabilities.
Speaker Change #314: Maybe you don't want them to one time.
Unknown Attendee: Andcanthesebatteriesuseanysizecompatiblecharger,ormustitbeaspecificbrandedcharger?
Arthur Porcari: Okay. Anyway, Candy happens to have an incredible relationship with loads based on loads, seemingly unending support and trust of Candy. Aside from the fact loads picked up Candy two years ago to launch their newest highest cost item in their system. Only a few months after Candy first entered the U.S.
Okay anyway.
Speaker Change #315: Can you help us have an incredible relationship with a lot of it was based on luvs seemingly unending support and trust of Candy Aside from the fact Lowe's picked up can be two years ago to launch their newest highest cost item in their system.
Speaker Change #316: A few months after candy first entered the U S golf Cart Arena. However, initially it was marketing veteran Coleman with only had you only have one Brian Cartelize Baxter.
Arthur Porcari: Gulf of Carterina. However, initially it was the marketing veteran Coleman with only had one branded cart line back then. And less than a year, a loads this totally dump Coleman out of the picture went directly to Candy picked up Candy's own branded golf carts, the industry's youngest brand as their sole golf carts supplier. And exclusively now show more than 80 variations of candy carts under web portal.
Unknown Speaker: As long time candy followers are aware, this is a false narrative. But easy for detractors to say since candy does not have a high profile corporate website in English that showcases its in-house capabilities. Do you want to go ahead and translate that? But actually, this is a false narrative. They are very clear about candy. However, there is not much to do with candy. It's very busy. It's very easy to understand an English company website to demonstrate its in-house capabilities.
Unknown Attendee: Candycharger.
Lesson here allows us totally dumped called me out of the picture went directly to Kandi.
Speaker Change #316: Randy its own branded golf carts, the industry's youngest brand as their sole golf cart supplier.
Speaker Change #316: And exclusively now show more than 80 variations of candy carts on their web portal.
Unknown Attendee: Okay.
Kewa Luo: Keylai,doyouwanttogoaheadandtranslatethat?
Olin Rice: 让我翻译一下您刚才说的话。我刚才看到有好几个很多我们的产品,然后总的一个客户满意度有个4.5星的评价,他觉得这是相当不错的。然后之后他又提到以后康迪美国上市之后,希望康迪美国的CEO管理层Johnny和Olin能够上电话会议上面来讨论,但是很惊讶,没有想到今天他们就已经在线上和大家讨论了,这样非常好。好的,继续问您的问题,如果您有任何问题。是的,好的,这里有几个更轻松的问题。这是一个关于一个问题,是有人问过的,我没有确定是否有正确的答案,或者是能够理解的答案。如果康迪美国的计划实施,那么应该如何处理?
Arthur Porcari: Just check that the other day just to me. Go ahead, pass that on.
Unknown Attendee: 请不吝点赞订阅转发打赏支持明镜与点点栏目请不吝点赞订阅转发打赏支持明镜与点点栏目请不吝点赞订阅转发打赏支持明镜与点点栏目I'msorry,canyourepeatyoursecondquestionaboutLuckyT9?
Kewa Luo: Okay.
Speaker Change #316: Just check that the other day just amazing.
Speaker Change #316: Go ahead pass that on.
Speaker Change #317: Oh, Okay, I shall hand, hustle office on costumes, and Henan uncle, Kinder Candyman, Guangdong, Glenn anytime Johnny her own chunks, yes, anti hunting and Cagliari and yeah. We are seeing nothing else am dork candy meat glut that Jordan.
Speaker Change #317: 管理層是否仍然希望分拆康迪美國呢?
Speaker Change #317: 如果是的話,有沒有更好的辦法能迅速提升康迪的股價,以幫助分拆順利進行?
Speaker Change #318: Got him in payoffs you send us.
Speaker Change #319: Sure Johnny Shiga, I'm, a longer I know you well know either I guess, each Hong Kong from Pandora Com teaches young language damage from Joe Wyman does he like Oh, what did you do you want to and I'm sure I'm quoting major she loves that you guys sound Valenti comedy called lost kind of school actually look once you shouldn't say Tony.
Arthur Porcari: I'm very happy to see Kang-Di's success today. My first question is related to a few related issues. Kang-Di and Lofts' relationship is very common. From Lofts to Kang-Di, there is no doubt that we can finally get to Kang-Di. In two years ago, Kang-Di entered the market of Lofts. But Lofts chose Kang-Di a few months ago. We know that before Kang-Di, we were able to sell and sell lofts. But in a year, we were able to sell and sell lofts. Kang-Di and Lofts' relationship is very common. We know that before Kang-Di, we were able to sell Lofts to Kang-Di.
Speaker Change #320: Uh-huh Joshi torno stake hungry and put on a two shift still P. M.
Unknown Speaker: So, this misunderstanding is very easy to happen. Okay, thank you. So we all know, obviously, that Kandi stock is extremely undervalued, especially, even though it's a highly integrated major manufacturer. So, a few conference calls back. A question was asked as to what percentage of the cost of a typical Kandi vehicle for lack of a better term, such as a golf court, was actually manufactured by Kandi in its own multiple state-of-the-art facilities throughout whatever cities in China and now Taiwan. I believe at the time you said that a short management reply was somewhere around 90%, could you go ahead and translate[inaudible] Go ahead. Thank you.
Speaker Change #321: Going to the adult children Kimba candy.
Unknown Speaker: Now I've got three quick related questions. Was that 90% response accurate? And if so, can you briefly tell us for the record about each of Kandi's own various facilities? Specifically, where they are located, what kind of products were made in each facility? And also, can you comment about the current percent of capacity being used in each facility and the maximum annual capacity available at each facility? Okay. So, my first question is, I want to answer the 90% question.
Unknown Attendee: Yeah,thegasstrike,isthat,youhadthatyearsagoinyourline,itwassimilartothePolarisfighter?
Kewa Luo: SoweallknowobviouslythatKandistockisextremelyundervalued,especiallyeventhoughit'sahighlyintegratedmajormanufacturer.
Olin Rice: 如果康迪美国的计划实施,那么应该如何处理?
Speaker Change #322: It seems that a lot of insurance Hudson group off with.
Speaker Change: This announcement would call for an immediate increase due to the traders bidding at least $3 to $3.40 against the $3.50 tender price which is still well under the $5 book value.
Speaker Change #323: For church, where does she have not.
Speaker Change #324: And I loved the CIT Chico UNH Ocean County.
Speaker Change #325: A woman with all countries you cannot shoot punk walking coma. So that's why I like my major golf, which will show the stuff without Indiana, Georgia, yet Qwaqwa Coleman right no. So that's all I can I'd, Yeah, Hi, John called D. J Hayami thing I'm seeing the team behind it.
Speaker Change: But each share board under the book value will increase the remaining book value per share by the difference between the purchase price and the book value.
Speaker Change: So if the share per share is alone would be a great win.
Unknown Attendee: No,no,thesecondquestion,thesecondquestionyousaid,thehigh-endvehicle,LuckyT9.
Kewa Luo: Soafewconferencecallsback,aquestionwasaskedastowhatpercentageofthecostofatypicalKandivehicle,forlackofabetterterm,suchasagolfcourt,wasactuallymanufacturedbyKandiinitsownmultiplestate-of-the-artfacilitiesthroughoutwhatevercitiesinChinaandnowTaiwan.
Speaker Change #325: I'm not allowed to put him into a car for church, where the attention yes actually Hum allows telecom do you weigh the costs, which will tour of comedy.
Speaker Change: The response to this question on the last conference call from the CEO vote, thank you for your transition and we will appreciate that.
Unknown Attendee: Oh,yeah,high-endKandiproductsat$19,000,whatmarketdoestheLucky9address?
Kewa Luo: Ibelieveatthetimeyousaidthatashortmanagementreplywassomewherearound90%.
Speaker Change #325: Tony weigh the costs, which are going to shop.
Speaker Change #325: Please continue.
Speaker Change #325: 我知道你剛才有提到公司現在正在增加市場營銷和廣告投入, 但這些事情之前也有多少都有做過,但是並沒有對股價有太大的影響。 那麼康迪一直都在考慮為康迪美國進行潛在的裁判 但是相关进展信息没有发布之前,我们根据相关规定,目前我们暂不议讨论这个事情。 So, we are considering the potential deal listing for Candi America, but due to the FCC regulations, we are not allowed to discuss too much about this matter.
Unknown Attendee: Okay,thankyou.
Kewa Luo: Couldyougoaheadandtranslatethat?
Speaker Change #326: Oh, okay.
Speaker Change #327: Bear with me a second here.
Speaker Change #328: [noise] commander with a narrative and I have a few questions and then just a few months later lowest pace $100 million to renew and expand its four year relationship.
Speaker Change #328: Thank you for understanding.
Speaker Change #328: Okay, thank you for this information.
Speaker Change #328: So that means in my view that you're considering and you have a quiet period for that.
Speaker Change #329: All exclusive rights to become the official Lowe's home team sponsor to the National Football League and for the first time lows as golf carts.
Speaker Change #329: That's very good.
Speaker Change #329: Can you tell us a little bit more about the Monday announcement of the manufacturing agreement with Taiwan-based Harford?
Speaker Change #329: has plenty of excess manufacturing capacity in-house, and normally would not need to add significant capacity right now.
Arthur Porcari: We were able to sell Lofts to Kang-Di.
Speaker Change #329: Sponsorship inventory Coincidentally. This is the largest single big ticket item that sells nationwide by adult.
Unknown Attendee: Thesecondquestionis,asaKandihigh-endvehicle,LuckyT9,thisvehiclesellsfor$19,000,whatkindofmarketdoyouthinkthisvehicleistargeting?
Unknown Attendee: Thankyou,andI'vegotthreequickrelatedquestions.
Speaker Change #330: So either this deal is being done as inferred in the first paragraph of the Monday announcement, meets all necessary manufacturing standards, regulatory requirements, and local contents.
Speaker Change #330: Instead of bringing in any one of the more season golf cart makers, who would have loved to have had this account. They took with most of them I think it was a risk to their reputation and pick the new king candy and stick their reputation on it plus they put up that $100 million pass.
Speaker Change: We will take it in consideration and evaluate and react properly.
Speaker Change: But remember at the time that this was set, this can be trading at $3.
Speaker Change #330: Thresholds for the both us, and production in Taiwan or Kandi is going to need all this current access capacity, to make and deliver enough product to reach its 2025 goal of 500 million revenue.
Speaker Change #330: Which is it, or is there any other reason?
Speaker Change #330: 谢谢你刚才回答 如果你现在不能说 说明你现在正在静默期 说明你可能正在进行一些动作 我的下一个问题是 就是能否向我们介绍一下周一公司宣布的与台湾哈特佛的协议 显然康迪内部已经有大量的就是过剩产能 正常情况下 现在是不需要增加产能的 那么这笔交易是为了满足公告第一段中提到的 文中这样写道 将确保生产符合所有必要的制造标准 法规要求以及自制率的要求 以满足出口美国和台湾本地生产的规定 还是康迪将需要利用所有现在的过剩产能来生产 并交付足够的产品 以达到之前所说的2025年五亿美元的目标 或许是其他什么的原因, 扩展到台湾是我们加强供应链的战略 那么我们扩展到台湾的主要目的是为我们现有的产品增加价值,进一步可以提升我们的产品质量和我们产品的市场竞争力。 So expanding to Taiwan is a strategic move for us to enhance our supply chain.
Speaker Change: So now this is even more important and there will come back this is not.
Speaker Change #330: The main purpose is to add value to our existing products and further enhance and strengthen our market competitiveness.
Speaker Change: [inaudible] to $5 to $5 to $5 to $5 to $5[inaudible] Zhang Mian Jia Ge, Zhang Mian Jia Ge, Zhang Mian Jia[inaudible] Zhang Mian Jia Ge Kandi has always been in the考慮 for Kandi and the United States in recent years.
Speaker Change #330: Thank you.
Unknown Attendee: Andthenthelastquestionis,manyyearsago,Kandihada90-horsepowerthree-wheeledcombustionenginemotorcycle.
Kewa Luo: Wasthat90%responseaccurate,andifso,canyoubrieflytellus,fortherecord,abouteachofKandi'sownvariousfacilities,specificallywheretheyarelocated,whatkindofproductsaremadeineachfacility,andalso,canyoucommentaboutthecurrentpercentofcapacitybeingusedineachfacilityandthemaximumannualcapacityavailableateachfacility?
Speaker Change #330: Pass that on and I have some questions.
Speaker Change #332: Meanwhile, there's actually a whole now and what kind of LOE expenses watchful, let's jump out at you. That's what I told I E. Maybe Oh, Gee I think what I Swan song.
Speaker Change: But before the news came to an end, let's go to the news room.
Speaker Change #332: Okay, I understand.
Speaker Change #332: And that's my last question is, in the report today, you mentioned the Lowe's deal, which is quite important for you as a company.
Speaker Change: Before that, let's discuss this.
Speaker Change #330: Let's see.
Speaker Change #333: Joanna toilet and that's L bonds on a low hum team the time to shop. So it's in that John call for children now she's hunting, yeah, I can take one call for children IH window side chunk off on when they sell should be bothered them job hunting, social beachy like hunting culturally I bet I've filling in Seattle.
Speaker Change: So we are considering the potential deal listening for Kandi America.
Speaker Change: But due to the SCC regulations, we are not allowed to discuss too much about this matter.
Unknown Speaker: [inaudible] And then, their annual capacity, their largest annual capacity, and their capacity, and the current percent of the capacity being used in each facility in each facility. [inaudible] and also is located in the city center, and also is located in the city center, So, first of all, the Kandi's China-based mainly produces the gold cards and other spheres of the models. Our gene card base mainly produces the UTV, ATVs, the beach cards, and other spheres of the models.
Speaker Change #334: No smell shouldn't then they hitting and hustling for that little Python for children choose offshore I should model two data showing a function in terms of Los Angeles County, It sounds to EMA and holds the yeah that condition shot Jason I will.
Johnson: Well then she Johnson yeah.
Arthur Porcari: Please go ahead. Okay, and again, appropriate to have Nolan on board for the rest of my questions here. In Management's opinion, why did Lowe's pick Kandi in this, Kandi's, well, you already said that, extends for the full remaining three years of the Lowe's NFL agreement.
Speaker Change #337: Maybe now specifically to the US management team, have there been any discussions about the size of the deal?
Speaker Change #336: Please go ahead.
Speaker Change #337: Okay and again appropriately.
Speaker Change #337: So you know, how many how many new TVs or whatsoever?
Speaker Change #337: Nolan onboard for the rest of my questions here.
Speaker Change #338: Management's opinion, one of the lowest candy and does Kansas well you already said that extends for the remaining three years. It allows NFL agreement that part I think you already agreed it does but in your opinion why didn't loves picked candy and Olin problem in their approach to appropriate person to ask that question too.
Speaker Change: Thank you for understanding.
Olin Rice: That part, I think you already agreed; it does. But your opinion, why did Lowe's pick Kandi in Olin probably the appropriate person to ask that question too? The question, I just want to ask Kandi's Olin, I just want to know why Lowe's pick Kandi in Olin.
Andrea: Andrea once you went wrong just sherwin com do you make all that Oh, what's it sounds it also won't just letting some kind of language innovation. My last question, it's a comedy.
Speaker Change #340: Yeah. So thanks for the question.
Olin Rice: Thanks for the question.
Speaker Change #340: And how many years this is going to be in the market?
Olin Rice: Obviously, Lowe's, like any of the major mass retailers, has a very rigorous vetting process for vendor selection and product selection. And so, over the course of that short, one to a time that you referred to, we'd become one of the key partners in the outdoor recreational space, particularly in the electric side of that space. And I think that a lot of that studio equality and the value proposition and the high level of trust that we've developed with that team.
Speaker Change #341: Obviously, lowe's like any of the major mass retailers.
Speaker Change #342: Very rigorous vetting process for vendor selection and product selection.
Speaker Change #343: This deal that could give a very good insight for the future figures as a guy, 最后一个问题是今天的电话会议开场白的时候 你有提到就是跟Lowes的这个合作 你能不能就是更加说明一下这个合作的期限 能有一些具体的数据是怎么样去进行 是UTE还是就是能够给更多一些和他合作的具体信息 这个问题叫你回答一下,叫他问得具体一点。 We are going to have a CEO of Kandi America, John, to answer your question, but if you can be more specific about what you would like to know, that would be really good.
Speaker Change #343: And so over the course of that short window of time that you referred to we become one of their key partners in the outdoor recreational space, particularly in the electric side of that space and I think that a lot of that is due to our quality and the value proposition.
Speaker Change #343: Oh, yeah, of course.
Speaker Change #343: You know, I mean, if if you're signing such a deal, Lowe's, as well as Kandi, you know, they must have some idea how many UTVs of this kind could be brought to the market or sold or being sold, you know, because Kandi has to be prepared production wise, and Lowe's has to be prepared, you know, distribution wise.
Unknown Attendee: ThisvehicleisverysimilartothePolaris北极星Spider.
Kewa Luo: Firstofall,Kandi'sHainanbasemainlyproducesthegolfclubsandotherseriesofthemodels.
Speaker Change #343: So I, I would think that there must have been some discussions about how many UTVs of these special NFL licensed UTVs, could be sold on the market is willing to, Okay, very good question, you know, and I think I'm going to answer that first and then I will invite my colleague, you know, Olin to weigh in as well.
Speaker Change: Okay, thank you for this information.
Speaker Change #343: High level of trust that we've developed with that team.
Unknown Attendee: Doyouthinkthisthree-wheeledvehiclewillsellforthelikesofLuckyT9?
Kewa Luo: OurJinhuabasemainlyproducestheUTVs,ATVs,thebeachclubs,andotherseriesofthemodels.
Speaker Change: So that means in my view that you're considering, and you have a quite period for that.
Unknown Speaker: Our Jungtang base mainly produces the motor and electronic control products and the parts. There's our Jungtang base mainly produces the leaf re-batteries of better tech products. Overall, Kandi has an annual production capacity of more than 100,000 various types of vehicles and little parts. Thank you. And by the way, you know, it's correct that our own manufacturing rate of the Kandi product does exceed 90 percent. Thank you.
Olin Rice: Okay, is Lowe's plan on including actual golf carts and her six passenger carts? I asked that question after recently visiting a Galveston each car rental business and a golf course who would be happy open cases to buy a fleet of NFL carts, even if they had a buyer from Lowe's to put them in the rental pool. My second question is whether Lowe's plan would be a high-speed car or a six-speed car.
Speaker Change #343: Okay.
Speaker Change #344: Yes, we do have, you know, like a discussion, regular meeting, you know, with Lowe's to discuss, you know, what the market looks like.
Speaker Change #344: I was planning on including actual golf carts and or six passenger cars I asked that question. After recently visiting a gallons.
Unknown Attendee: Doyouhaveanyplansforthisvehicle?
Kewa Luo: OurYongchangbasemainlyproducesthemotorandelectroniccontrolproductsandtheparts.
Speaker Change: That's very good.
Speaker Change #345: Each car rental business and the golf course, and we'd be happy if the cases to buy a fleet of NFL cars, even if they had a buyer from lowest to put them in a rental pool.
Unknown Attendee: Cowboy'soutdoorstyleismorerough,anditisdesignedforhuntersandcross-countryusers.
Kewa Luo: WhereasourJiangxibasemainlyproducesthelithiumbatteriesandbatterypackproducts.
Speaker Change: Can you tell us a little bit more about the Monday announcement of the manufacturing agreement with Taiwan-based half-port?
Unknown Attendee: Ourgoalistoopenupthewayforvariousretailmarkets.
Kewa Luo: Overall,Kandihasanannualproductioncapacityofmorethan100,000varioustypesofvehiclesandrelatedparts.
Speaker Change #346: Oh, well, yeah, when you show or something like that long as you said, we'll wait and see what an Irish sushi nasal Oh gosh for church Rockwood, there should never really sure well whenever England was you'll see much what Disney all following a default eagle at Juniper with hammer shortly.
Unknown Attendee: CowboyismainlysoldinLowe's,andInnovatorwillbesoldinCostcointhenearfuture.
Kewa Luo: Thankyou.
Unknown Attendee: Thankyou.
Kewa Luo: Andbytheway,youknow,it'scorrectthatourownmanufacturingrateoftheKandiproductsdoesexceed90%.
Speaker Change: Kandi has plenty of access manufacturing capacity in-house, and normally would not need to add significant capacity right now.
Speaker Change #346: And we understand the market is quite, you know, challenging, you know, right now, with all the the economic, you know, climate, such as inflation.
Speaker Change: So either this deal is being done as inferred in the first paragraph of the Monday announcement.
Speaker Change #346: They don't show up on your Ohio since you, especially when you play traditional Lewis and I go might say, Oh, jeez I hadn't Missoula.
Unknown Attendee: AsforthequestionbetweenInnovatorandCowboy,fromtheproductspecificationperspective,theyareprettymuchonthesamepier. It'sjustthetwomodelshavedifferentstylingoutlooks.
Kewa Luo: Thankyou.
Speaker Change: It's all necessary manufacturing standards, regulatory requirements and local content, thresholds for the both US and production in Taiwan.
Unknown Speaker: How did curiosity come up if it's possible? If one wants to go into a total replacement of your facilities and equipment, do you have any estimate of what the total cost would be in US dollars that someone would need to invest to replicate all of your facilities and equipment? Hi, do you mean any one of facilities or all of the facilities we are going to replicate in the US? All of your facilities.
Unknown Attendee: Inordertotargetdifferentcustomergroups,that'sprettymuchthecruxofit.
Unknown Attendee: Outofcuriosity,Idon'tknowifthisispossible,ifonewastogoanddoatotalreplacementofyourfacilitiesandequipment,doyouhaveanyestimateofwhatthetotalcostwouldbeinU.S.
Olin Rice: 这个要看情况,这个我们要做方案,现在我答不出来,一个是规模,一个是哪些东西在那边生产,哪些东西在国际上采购,这个还要做可研,包括我们首先都是CKD先做,那么逐步逐步形成那边的生产。所以如果要重建一遍,至少要花300亿美元吗?
Speaker Change: Or Kandi is going to need all discount access capacity to make and deliver enough product to reach its 2025 goal of 500 million revenue.
Olin Rice: Yes, so I can answer this as well. We are currently a supplier to Lowe's six passenger carts in a limited store count of a couple hundred doors. We also have a very robust business with them online for that product, along with a number of other categories that perform well online.
Speaker Change #347: Yeah. So I can answer this as well we are currently a supplier to lows with six passenger cars in a limited store count.
Speaker Change #347: So I think that we carefully reviewed the market. And then also we determined, you know.., how many stores, how many inventory we would like to bring in.
Speaker Change #348: A couple of hundred doors, we also have a very robust business with them online for that that product along with a number of other categories.
Unknown Attendee: TheInnovator,asyoumayknow,hasamorefashionableappearanceandtendstoattractthecommunitywiththebetteroutlook,whereastheCowboyhasamoreoutdoorstyleandistailoredforhuntersandoff-roadvehicleusers.
Unknown Attendee: dollarsthatsomeonewouldneedtoinvesttoreplicateallofyourfacilitiesandequipment?
Olin Rice: 所以如果要重建一遍,至少要花300亿美元吗?
Speaker Change #347: Okay.
Speaker Change #347: Well online.
Speaker Change #349: So I think that's, you know, we still have a lot of, you know, discussion going on with Lowe's, and, Olin, would you like to weigh in?
Olin Rice: And as far as future Lowe's commitments to product offering, particularly on the floor, that's something that I wouldn't want to comment on because that kind of always evolving process for these major retailers as they look at their real estate they have available and what products make sense on their floor. Well, that wasn't quite my question.
Speaker Change #349: And as far as future Lowe's commitments to product offering, particularly on the floor, that's something that I wouldn't want to comment on because that's talent.
Speaker Change: Which is it, or is there any algorithm?
Speaker Change #349: Olin?
Speaker Change #349: Yes, I was I was unmuting.
Unknown Attendee: Ourgoalistoexpandthemarketforvariousretailsets.
Unknown Attendee: Hi,doyoumeanjustanyoneoffacilitiesorallofthefacilitieswearegoingtoreplicateintheU.S.
Olin Rice: 这个没有什么好细节,我们要是复制过去的话,美国呢,我们现在,美国那边的,包括那个Spay啊,或者投资啊,我们都不了解,那现在我这个价,但是有一条可以肯定,要是全复制过去,一,是不会复制过去,不会那么做的,第二的话呢,假如说复制,那肯定比中国要贵得多。SoIwouldthinkwe'regoingtohaveagreatthirdquarter.
Speaker Change: Kandi also needs to use all the current manufacturing standards, and deliver enough product to reach its 2025 goal of 500 million revenue.
Speaker Change #350: Always evolving process for these major retailers as they look at their real estate that you have available and what products make sense on their floor.
Speaker Change: So expanding to Taiwan is a strategic move for us to enhance our supply chain.
Unknown Speaker: I'm just trying to get a sense of what it would take if some third party came in and wanted to do what Kandi is currently doing. What kind of cost would it be to them to replicate all of your current facilities and equipment without regard to where they're located? I said that it would be great if one third party came in and wanted to do what Kandi is to do in the US.
Unknown Attendee: Inaddition,CowboyismainlysoldinLowe's,whereastheInnovatorwillbesoldinCostcointhenearfuture.
Unknown Attendee: ?
Olin Rice: MaybeI'mwrong,ifanybodywantstoaddressthatornot.
Unknown Attendee: Thankyou.
Olin Rice: Anyway,thankyou.
Speaker Change #351: Well that wasn't quite my question.
Speaker Change: The main purpose is to add value to our existing products and further enhance and strengthen our market competitiveness.
Unknown Speaker: If we want to make all of our current facilities and equipment and equipment available in the US, we have to make sure that we have a large investment[inaudible] so it seems from the dramatic standpoint it's not quite feasible to replicate the whole of the facilities from China to the US. Although we are considering to have an exemplary part of the lines in the US in the future. Whereas the holder over a budget, it's hard for us to tell now and we have to look at our budget.
Speaker Change #351: Um, you guys hear me?
Speaker Change #351: Yes.
Speaker Change #352: Okay, yeah, so to Johnny's point, we, we are in weekly, several times a week conversations with the Lowe's team.
Olin Rice: My question was specifically had to do with the NFL. Again, you can imagine a Galveston car rental car rental company over there would love to have some, I hate to say it, cowboys too, but Texans carts to go ahead and red people go up and down the sea wall. And as far as the golf car, of course, is concerned, they think it'd be quite interesting to have actual golf carts where they put the golf bags in the back. I mean, this model that you have right now is a beautiful model. It is 4P all-forward placing seats, but it's not really golf compatible yet.
Speaker Change #352: More specifically it had to do with the NFL.
Unknown Attendee: Q2.
Unknown Attendee: Allofyourfacilities.
Kewa Luo: Thankyouforyourremarks.
Speaker Change #353: Again, you can imagine our Galveston car rental car.
Speaker Change: Thank you.
Current rental company owner would love to have some.
Speaker Change #354: I hate to say it cowboys too, but but Texans carts to go ahead, and let people go up and down the seawall and as far as the golf cart.
Unknown Attendee: 高端车LuckyT9的销售市场是什么样的人群?
Kewa Luo: Operator,that'sall.
Speaker Change: Okay, I understand and that's my last question.
Unknown Attendee: Onthelastconferencecall,adiscussioncameupaboutKanditargetingtospin-offasaseparateNASDAQcompany,itsU.S, subsidiary,KandiAmerica,laterthisyear.
Unknown Attendee: I'mjusttryingtogetasenseofwhatitwouldtakeifsomethirdpartycameinandwantedtodowhatKandiiscurrentlydoing.
Kewa Luo: Thankyou.
Speaker Change #355: Of course is concerned do you think it would be quite interesting to have actual golf course, where you put the golf bags in the back I mean this model that you have right now it's a beautiful model is for paying all forward facing seats, but it's not really golf compatible and yet the sport of golf and and sport of football seem to have.
Olin Rice: The sport of golf and sport of football seem to have some sort of a relationship over here more so than most other. Sports, as you well know. So that was the basis of that question, actually. Yeah. Okay. If I understand your question, I mean the right now the agreement is around 4p card. And any NFL products that are obviously that are going to be worth it, are going to be worth it to be a load because of the relationship. So I'm not sure if that answer through questions only, but that's that's our situation today.
Speaker Change #355: Some sort of a relationship over here more so than most other.
Speaker Change #355:
Speaker Change #355: Sports as you well know so.
Speaker Change #356: Basis of that question actually.
Speaker Change #357: Okay. If I understand your question I mean.
Speaker Change #357: Now the agreement goes around four P card.
Speaker Change #358: And anything any NFL products that are obviously that are going to be marketed are gonna be marketed via low because of the relationship. So I'm not sure if that answered your question totally but that's that's that's our situation today.
Unknown Attendee: TherewasdiscussionthatthemostKandicouldspin-offandmaintainfullrightsofconsolidationoffinancialsisjustunder20%. Tomakethispossible,duetotheNASDAQrequirementsofaminimumpricepershareof$4and$50millionmarketcap,Kandiitselfwouldhavetohaveatleast$4pluspricepersharetomeetNASDAQlistingrequirementsforthesubsidiary,buthighertoassuretheIPOdoesn'tgodownonthefirstdayoftrading.
Unknown Attendee: Whatkindofcostwoulditbetothemtoreplicateallofyourcurrentfacilitiesandequipmentwithoutregardtowherethey'relocated?
Kewa Luo: I'llturnthecallbacktomanagementforanyclosingremarks.
Speaker Change: And this report today, you mentioned the low deal, which is quite important for you as a company.
Speaker Change #358: 谢谢大家, So, as it relates specifically to the NFL, you know, in a position where we've got a lot of it, everyone is excited.
Speaker Change #359: Co-host and podcaster, Tim Spence, family, and friends all inter Suns here on YouTube!
Olin Rice: But is it something that you might have an interest in doing?
Speaker Change #359: So we've got a plan.
Speaker Change #359: But is it something that yeah.
Speaker Change #360: You might have an interest in doing a presenting pull those to maybe.
Olin Rice: So when we're presenting for those to maybe have that or would be just too difficult to rekey, it seems like, basically you're putting a wrap on an existing product that we already have. And putting a logo embroidered into the headrest and getting maybe a couple of thousand dollars more for the equivalent. It would just seem like it go hand in hand, and you know whether I've been in the discussion yet. But if not, maybe it's something worthwhile discussing that doesn't require a response.
Speaker Change: Maybe now specifically to the U.S, management team.
Speaker Change #361: Todd that are would be just too difficult to reaching it seems like basically you're putting a wrap on an existing product that we already have and putting a logo embroidered into the address.
Unknown Attendee: Whatwassuggestedonthelastcallwasforthecompanytojustdoasimple$10millionsharetenderofferat$3.50ashare,$1.50onabulkvalue,costingnomorethan50%ofKandi'scash.
Unknown Attendee: Hesaidhewasverycurious.
Unknown Attendee: Thisannouncementwouldcallforanimmediateincreaseinbidsduetoabetrayedbiddingatleast$3to$3.40againstthe$3.50tenderprice,whichisstillwellunderthe$5bookvalue. Buteachshareboughtunderthebookvaluewillincreasetheremainingbookvaluepersharebythedifferencebetweenthepurchasepriceandthebookvalue.
Unknown Attendee: IfathirdpartywantedtoinvestinKandiintheU.S.,iftheywantedtoreplicateallofourexistingfacilitiesandequipmentinChinaintheU.S.,howmuchinvestmentwouldittaketobuildafacilitylikethis?
Speaker Change: Have there been any discussions about the size of the deal?
Speaker Change #362: Maybe a couple of thousand dollars more for the equivalent.
Kewa Luo: Thankyouagainforjoiningtoday'sconferencecall.
Speaker Change: So, you know, how many, how many UTVs or whatsoever, and how many years this is going to be in the market, this deal that could give a very good insight for the future figures as a guide.
Unknown Speaker: Thank you. I'm not sure if I broke up or I just didn't understand that 90% number back from your previous answer in terms of what percent of a typical like a golf cart is actually made by Kandi versus products required from outside. Is 90% still an accurate percentage? It is. Yeah, it is. Okay.
Speaker Change #363: It would just seem like it go hand in hand, and didn't know whether they had been in the discussion yet, but if not maybe its something worthwhile discussing that doesn't require a response she wanted to respond to it.
Kewa Luo: Ifyouhaveanyfurtherquestions,pleasedon'thesitatetocontactourIRconsultantatgaryatblueshirtgroup.cooryoucancontactusdirectlyatiratkandigroup.com.
Kewa Luo: Itseemsfromthepragmaticstandpoint,it'snotquitefeasibletoreplicateallofourfacilitiesfromChinatotheU.S.,althoughweareconsideringassemblingpartofthelinesintheU.S, inthefuture.
Olin Rice: I actually want to respond to it. I'll say this. We obviously are interested in expanding as successful the program dictates. So I think that everything could be on the table. But at this point, we're so early into the program. And I think we're going to play with the 4P, and then I'm sure that there will be conversations that this is tremendously successful. Sure, as we just discovered, this is a three-year deal, which makes it that much more exciting. I'm sure it does for you as well.
Speaker Change #364: Listen I'll say this we obviously are interested in expanding.
Speaker Change #365: Success with the program decades, so I think that everything could be on the table, but at this point. We're so early into the program I think we're going to we're going to play.
Speaker Change: So, I think there's a little bit of a little bit of data on what to do with the UTV, or is it possible to give a little bit more information on what to do with it?
Unknown Speaker: And then my last question is, you're trying to base website quite frankly seems to be outdated in that its images and videos are still heavy on evietos and trucks. What about updating that site and on all of your websites and this is related to my to the previous questions. Can you at least create a PowerPoint presentation on your state of the art manufacturing facilities and capacity. So people who have questions about candy and in terms of how much you're actually manufacturing versus how much you're obtaining from third parties and then putting on your label exists. I think that would be actually quite helpful and counteracts some of the claims out in social media and that's all I've got. Thank you. [inaudible] Thank you. Thank you. [inaudible] Thank you. Thank you. Please continue.
Kewa Luo: Whereasthetotaloverallbudget,it'shardforustotellnow,andwehavetolookatsomeotherdetailedfinancialanalysisreports.
Speaker Change #366: With the four P and then I'm sure that there will be conversations.
Speaker Change #366: Tremendously successful.
Speaker Change #367: It's a three-year-long plan.
Speaker Change #367: Sure well, we just discovered this is a three year deal, which makes it that much more exciting and I'm sure. It does for you as well anyway.
Speaker Change: This question will also answer you.
Unknown Speaker: Just since the last conference call, it appears from sources several new international outlets have been opening to include a very impressive, which we talked about, the Southeast Asia Thailand location, along with the Ruba Curacao Dominically Public in Dubai. And even now in the EU market, go ahead, Kewa, and then my questions. My question is outside of the US and Canada, how many international locations have been opened and are soon to be opened?
Speaker Change #367: That's the extent of the contract to disqualify.
Speaker Change #367: So we are going down a path.
Speaker Change #367: To put a hard number on it right now, I would have a very hard time putting a hard number.
Kewa Luo: Thankyou.
Speaker Change #367: There are certainly very high expectations among all three.
Speaker Change #367: Johnny, if you feel better about a specific, I'm happy to do that, but I just don't know that number yet.
Unknown Attendee: I'mnotsureifIbrokeup,orIjustdidn'tunderstand.
Unknown Attendee: Anyway, on the last conference call, manager responded to a charting question, originally asked on the conference call in 2022, confirming it still had a high end goal of possibly achieving as much as a 500 million revenues for 2025. But I suspect that number of started would have gotten lower now, but still pretty aggressive number because of the economy in general. But that's a long way from 120 million or maybe 200 million, 210 million will do this year. Anyway, let's see.
Speaker Change #368: We do have very high expectations.
Speaker Change: We're going to have a deal of Kandi America, John, to answer your question.
Unknown Speaker: In other words, a number or a close number. That's my first question. I just want to know, in addition to the US and Canada, how many international locations have been opened? I want to know the number of international locations. So apart from our US and Canada market, we are also exploring the European and Southeast Asia market. We are currently working in more than a dozen countries for the trials sales. Thank you.
Speaker Change #368: On the last conference call management responded to target question. Originally asked on the conference call at 2022, confirming it still had a high Angola, possibly achieving as much as that 500 million in revenues for 2025.
Speaker Change #368: Impact.
Speaker Change #368: Kandi is a guy.
Speaker Change: But if you can be more specific about what you like to know, and that will be, that will be really good.
Kewa Luo: That90%numberbackfromyourpreviousanswerintermsofwhatpercentofatypicalgolfcartisactuallymadebyCannyversusproductsacquiredfromoutside,is90%stillanaccuratepercentage?
Speaker Change #369: Suspect that number was certainly would've gotten lower now, but something aggressive number because of the economy in general, but that's a long way from $120 million.
Speaker Change: Oh, yeah, of course.
Speaker Change #370: Or maybe 200 million $210 million this year anyway.
Speaker Change: You know, I mean, if you're signing such a deal, lows as well as Kandi, you know, they must have some idea how many UTVs of this kind could be brought to the market, or so it, or being so it, you know, because Kandi has to be prepared, production wise, and lows has to be prepared, you know, distribution wise.
Speaker Change #370: I'll stop there.
Kewa Luo: Itis.
Speaker Change #369: Yeah.
Speaker Change #371: Well, thank you, Olin.
Speaker Change #371: Let's see a low as well.
Unknown Attendee: Well, I'm just looking at some notes I have over here. One other point I wanted to bring to your attention. I guess you are probably aware of this. But you know, they do, as I mentioned, actually have about 80 different variations of your golf carts on the lowest website. Of course, you're exclusive and lows. I'm talking about in general. But what's interesting is there are several hundreds of five-star of the rating system, you know, on these golf carts. I know you're worried not, but you got an overall 4.5-plus rating. If you add in all those, all the various different candy provided products, which is pretty phenomenal, speaks very highly to the, at least the thought that the customers that have been buying the vehicles through those.
Speaker Change #371: Just looking at some notes I have over here.
Speaker Change #373: One other point I wanted to bring to your attention I guess, you're probably aware of this but you know they do as I mentioned actually have about 80 different variations of your golf carts on allows website.
Speaker Change #373: Susan Love's I'm talking about in general, but what's interesting is there's several hundreds of five star.
Speaker Change #374: The rating system, you don't have any stop cards I don't know.
Speaker Change #374: We're not you got an overall four five plus rating if you add in all of those all the various different cannae provided products, which is pretty phenomenal speaks very highly to the.
Speaker Change #375: Just the thought that the customers that had been buying the vehicles through Lowe's.
Unknown Attendee: And that's a real feathered y'all cat. But anyway, go ahead and pass that on.
That's a real feather in your cap.
Speaker Change #375: But.
Speaker Change #375: Anyway.
Speaker Change #376: Go ahead and pass that on.
Speaker Change #376: I think you, I think you're a little bit, you know, breaking up.
Speaker Change #376: But what's.
Unknown Attendee: But what's your question? OK, well, OK, well, basically, well, that really wasn't a question.
Speaker Change #376: Whats your question is okay.
Speaker Change #377: But, but I think I want to make a, you know, correction.
Speaker Change #377: It's the NFL, we have a license to sell it from the golf cart.
Speaker Change #377: Wow, Okay, well basically all of that really wasn't a question I guess that was more of a more of a comment that I had here and only kind of asked the first part.
Speaker Change #377: It's not the UTV.
Unknown Attendee: I guess that was more of a more of a comment that I had here and only kind of asked the first part. Oh, let me see. I don't even have one or two more items here. It's kind of some prior things that were said.
Oh, let me see.
Speaker Change #378: Two more items here in Australia.
Speaker Change #378: There are things that were said.
Speaker Change #378: Okay.
Unknown Attendee: Yeah, one of the questions I had was, since candy is going to spin off candy Americans, especially separately, wouldn't it be wise to bring the CEO and perhaps on the call in the future? But y'all did that. So there you go. OK. Let's see.
Speaker Change #379: So right now, you know, it's actually available to older on Lowes.com.
Speaker Change #379: One of the questions I had was since Kandi is going to spin off Candy Americans, especially separate entity wouldn't it be wise to.
Speaker Change #379: So I think, yeah, I agree with what Olin mentioned.
Speaker Change #380: Thank you for your question.
Unknown Attendee: So,ifthenon-sellingholdergained$1.50to$15millioninbookvalueforeach$1millionplussharepurchase,italonewouldbeagreatwin.
Kewa Luo: Yeah,itis.
Kewa Luo: Welookforwardtoupdatingyouonournextearningscall.
Speaker Change #380: Bringing the C O in men and perhaps all of them on the call in the future, but you all did that so there you go okay.
Unknown Attendee: TheresponsetothisquestiononthelastconferencecallfromtheCEOwas,thankyouforyoursuggestionandwereallyappreciatethat.
Unknown Attendee: Okay.
Kewa Luo: Thisconcludesourcallfortoday.
Speaker Change #380: Well, let's see.
Unknown Attendee: Wewilltakeitinconsiderationandevaluateandreactproperly.
Unknown Attendee: Andthenmylastquestionis,yourChina-basedwebsite,quitefrankly,seemstobeoutdatedinthatitsimagesandvideosarestillheavyonEVautosandtrucks.
Kewa Luo: Thankyouverymuch.
Speaker Change #382: Yeah, Let me let me translate what you have said so far is.
Unknown Executive: Let me translate what you have said so far. Okay. You can see a lot of our products. And then there was a client who bought one. There was a 4.5-star product. He thought it was really good.
Unknown Attendee: ButrememberatthetimethatthiswassetwithKanditradingat$3.
Unknown Attendee: Whataboutupdatingthatsite?
Operator: Youmaynowdisconnect.
Speaker Change #380: Okay.
Speaker Change #383: How are you guys talking about European vehicle lunch, Hitachi sheer thought that I E.
Speaker Change #383: I shall I say shines through the jaw wish him in our Twenty's hail teed off, especially is that adding a when you have a monthly.
Speaker Change #384: So I'm glad that all go either social rule.
Speaker Change #384: Now hold onto your old T Dodgers, Hong Kong atone low stuff out and they're telling me and Oh, and then you kind of a hockey gloves and all woman that hunting household names I can't the Joseph Kokomani Dunaj, let's sit down with senior teams yeah patchy that just yet are still sound on both Florida Alger Jota your old teeth Alger your whole count.
Unknown Attendee: So,nowthisisevenmoreimportant.
Unknown Attendee: Andonallofyourwebsites,andthisisrelatedtothepreviousquestions,canyouatleastcreateaPowerPointpresentationonyourstate-of-the-artmanufacturingfacilitiesandcapacity?
Operator: Thankyouforyourparticipation.
Unknown Attendee: Andtherewillcomemyquestionsnow.
Unknown Executive: And then he also mentioned that after Kandi America, I hope that the CEO of Kandi America will be able to discuss it with you on the phone. But I didn't think about it today. They have discussed it with everyone. That's all. Okay.
Speaker Change #384: And courthouses your whole nonchalant come you make when a CEO Juanita Johnny her own logo shop, where you saw a man I taught that actually hunting, a mail or something else and can kill it seems I say childhood out how long that John said ha.
Speaker Change #384: Hum.
Speaker Change #385: Okay continue with your question if you'll have any yeah. Okay. Just a couple of more light ones over here. This is a follow up on a question that somebody else asked over here I've never sure. We've got the right answer for the answer to that is understandable.
Unknown Executive: Continue with your question. If you have any. Yeah. Okay. Just a couple of more light ones over here. This is a follow-up on a question, and somebody else asked over here. And never sure we got to get the right answer for it or the answer that was understandable. Had to do with the total valuation of all of Kandi's facilities if they had to be replicated. Well, I remember for a fact that Kandi built from scratch the Hanyam facility, which has the 100,000 capacity. And that was, I believe, five or five years ago. And that was done for about 200 million by itself.
Speaker Change #385: Okay, then that's it for me, just, yeah, okay, for just my last remarks for management, especially in China, is, you know, there's a good company, that's one side and there's a good stock price and these two things often don't match together.
Speaker Change: So, I would think that there must have been some discussions about how many UTVs of this special NSL license UTVs could be sold, or the market is willing to accept.
Speaker Change #385: I think when it comes to company, the company, the management has done a terrific job over the last years, you know, to get the company afloat, and to strike good deals, and to bring the company where it is today.
Speaker Change: Okay, very good question, you know, and I think I'm going to answer that first, and then I will invite my colleague, you know, all into a way in as well.
Speaker Change #385: But when it comes to the stock price, I must say that.., there, they're a little bit lagging behind.
Speaker Change #386: What, for what reason ever, So I would say, you know, one could a little bit, you know, concentrate now a little bit also on the stock price for the shareholders.
Speaker Change #386: <unk> had to do with the total valuation of olive candies facilities, if they had to be replicated.
Speaker Change #387: And to make the stock a little bit, you know, in the public view, that there's more attention about Kandi and what Kandi can provide, and what Kandi can do, then the stock price could go significantly higher from the current position.
Speaker Change #387: I I remember for a fact that can be built from scratch. Her name facility, which has 100000 capacity and that was I believe 545 years ago and that was done for about 200 million by itself.
Speaker Change #387: Thank you for taking my question.
Speaker Change: Yes, we do have a, you know, like discussion, regular meeting, you know, which lows to discuss, you know, what the market looks like, and we understand the market is quite, you know, challenging right now, with all the economic, you know, climate, such as inflation. So, I think that we carefully reviewed the market, and then also we determined, you know, how many stores, how many inventory we would like to, you know, bring in.
Unknown Executive: Subsequent to that, I know they would have sold it. The old facility and built a brand new facility in Genoa. And I guess that's where they're making your offload products. So it would seem to me that the value of all those facilities, which, if it had to be replicated today, would certainly be an excess of 300 million, maybe a bigger number than that. Am I wrong? Do we have a million What? Okay. Originally, the original Hanyam facility was built for around 200 million dollars by Kandi. Four or five years ago. And the new facility we had in Genoa.
Speaker Change #387: Subsequent to that I know they bought them.
Unknown Attendee: Thankyou.
Speaker Change #388: So the old facility and built a brand new facility in Jinhui, and I guess, that's where they're making them here off road products.
Speaker Change #389: So it would seem to me that the value of all of those facilities, which if it had to be replicated today would certainly be in excess of 300 million, maybe a bigger number than that am I wrong.
Speaker Change #390: I mean 300 million what.
Speaker Change: So, I think that's, you know, we still have a lot of, you know, discussion going on with lows.
Speaker Change #391: Okay. Originally the original hang facility was built for around $200 million buy candy.
Speaker Change #391: Four or five years ago and that new facility, we have in Gen Y and that which is I guess, there are two or four or five facilities in various cities or making vehicles.
Unknown Executive: And I guess there are two, four, or five facilities in various cities or making vehicles where I believe they're making the cowboy. I don't know what that cost, but maybe another 100 million or so. So my comment was the question was asked about what the cost would be to rebuild that type of manufacturing capacity that we had.
Speaker Change: Yes, I would like to wait in.
Speaker Change #392: I believe they're making the cowboy.
Speaker Change: I was unmuting.
Speaker Change #392: I don't know what that.
Speaker Change: You guys hear me?
Speaker Change #393: What that costs, but maybe another $100 million yourself. So my comment was when the question was asked about what the cost would be to rebuild that type of manufacturing capacity that we have it would seem to me that number would be at least 300 million or higher.
Speaker Change: Yeah, so to Johnny's point, we are in weekly, several times a week, conversations with the three-year-long panel.
Unknown Executive: It would seem to me that number would be at least 300 million or higher. Am I wrong on that, or what?
Speaker Change #394: I wrong on that or what.
Unknown Executive: Let me ask. What's the problem? I just want to follow up on a question.
Speaker Change #395: Well, let me ask who don't have to own ones. You know he sounds you'll sure Ghansham shashank, but Q1, I am sorry, $1, Google maps, Google Oh, My God box I'm glad that sometimes you'll share of cultures that make what you might have a kind of one that's what people are seeing C. One N T. I won't know Paula does allow me right on 10.
Unknown Executive: What's the problem? It's very hard for us to tell the moment because that involved too many parts, like the supply chain, you know, the scale, and so on. And all the factors, but then we would like to think of that step by step so that our plan and the consideration.
Speaker Change: That's the extent of the contract at this point.
Speaker Change #396: Yeah sure Hi, I know you wish you hadn't G D. It <unk> seem that gene J D power Guy, saying, they eat and how does that mean, she wishes rugula y'all, but he's a 20 on China, the Shanghai show shoes.
Speaker Change: So we thought we are going down to path in a week.
Speaker Change: To put a hard number on it right now, I would have a very hard time putting hard up.
Speaker Change: There are certainly very high expectations among all three people involved.
Speaker Change #397: What I'm, telling you the harsh appreciating your phosphate yourself she sounds like Russia.
Unknown Speaker: My second question. Have any multi-store chain been targeted for international growth? In other words, large stores change like Walmart and Loose. Thank you. You mean internationally, outside of the US? Multi-store chains, big chains, big companies, big stores. I know outside of the US. Yes, for international growth. My question is outside of the US and Canada market, like Loose, Walmart and Loose. In the international market, we are currently working in more than a decade.
Speaker Change #398: So they all kind of thing one bigger one might have to opana since high West Palm Beach, Florida.
Speaker Change #398: So we more goodness, it's almost the same at the same time that sometimes is that once you sounds like go to the.
Speaker Change #398: Okay, and well make sure we sandoz has a good teacher pool not much on petrol boat seem to not be at the same time.
Speaker Change #399: It's very hard to tell at the moment because debt invoke too many parts like the supply chain you know the scale and all the factors, but then we would like to think of that step by step. So that's plenty under consideration. Thank you.
Unknown Executive: Thank you.
Unknown Executive: So, you're not even willing to commit to the fact that the original cost of the facilities will not take all that other consideration. Well, I guess my question basically is, is it worth at least $300 million if you had to rebuild the whole thing again? He said that you can't confirm that if you spend $300 million in China, is it worth at least $300 million in China? No, I can't confirm that. So this is going to be the same.
Speaker Change #400: So youre not even willing to commit to the fact that the original cost of the facilities were not taken all of that under consideration.
Speaker Change #401: Well I guess my question basically is is it worth at least $300 million. If you had to rebuild the whole thing again.
Unknown Speaker: This is what I just said. This is the US and Canada market. There are a few big companies that we have never seen before. So, in US, we do what we've built the large scalable retail store chain. However, in other countries, like European countries, we actually tend to work with the distributors instead. And so, that's our plan for now. Thank you.
Speaker Change #402: And how do I need to put uncle chigger until sure.
Speaker Change #403: With that John will follow a sounder eat sushi, she wishes that language or <expletive>, who called me out.
Speaker Change #403: What's your general Musharraf tragedy, just how L class on the eastern Virginia, Nobody local children.
Kewa Luo: SopeoplewhohavequestionsaboutKandiandintermsofhowmuchyou'reactuallymanufacturingversushowmuchyou'reobtainingfromthirdpartiesandthenputtingonyourlabelexists,Ithinkthatwouldbeactuallyquitehelpfulandcounteractsomeoftheclaimsoutinsocialmedia.
Speaker Change #403: Yeah.
Speaker Change #404: Yeah, Hi, Aussie movie young that yes, it was something about the Cui more yes. Its empire Princess you'll see final. Since you spent time now correct me if I may well have we couldn't quite highway all water that thankfully.
Kewa Luo: Andthat'sallI'vegot.
Speaker Change #405: Well, yes, that's I mean, what's your sense on the clock and that's why you know ship or do you have some I don't see I see I think which is I'm sorry go ahead.
Speaker Change #404: Yeah.
Speaker Change #406: Nimble quick bathroom quite that Mike well see other total market municipal younger so it took me a no Kenya, you signed and then.
Kewa Luo: Thankyou.
Speaker Change #406: That is true.
Speaker Change #406: I think I mean, I suppose that you also even though we are just as a call through the hot Evesham it'll be all my summary, yes.
Kewa Luo: Thankyouforyoursuggestionsandfeedback.
Speaker Change: Johnny, if you feel better about specific, happy to do that, but I just don't know that now we do have very high expectations.
Johnny Tai: Okay, thank you very much. I have a quick question for Johnny, if we could. How many stores does he expect the NFL carts to be involved with? So, I'd like to ask Johnny, I'd like to know how many stores will be involved in the sales.
Kewa Luo: Theyareveryconstructive.
Speaker Change: Impact, Kandi as a company.
Kewa Luo: Wehaveactuallybeenworkingonoralreadyadjustedmostofthoseitems. Andofcourse,wewillfurtherimprovethemtomakethemmoreaccessibletoourinvestors.
Speaker Change #406: That's right.
Speaker Change #408: Say it.
Speaker Change #406: That's a good timeline.
Kewa Luo: Thankyou.
Speaker Change #406: I saw that shallow so you're more young call what's your market in itself.
Speaker Change: I don't stop there.
Speaker Change #406: What can it be somewhat quick.
Speaker Change #409: Oh, so that's the answer your question, if we will dictate the exactly same scale or something.
Fred Proctor: OurnextquestionisfromthelineofFredProctorwithCleanTechInvestments.
Fred Proctor: Pleaseproceedwithyourquestions.
Fred Proctor: Goodmorning.
You know from China to U S it'll be even higher than 300 million, but then.
Fred Proctor: WithexistingoutletsinNorthAmerica,whichweknowincludeLowe's,2,500outlets,Walmart,4,500outlets,Amazon,Campers,World,CostcoCanada,108outlets,NationalBigBoxstoresalongwithPV,Mart,SlashH,HardwareCanada,200outlets.
Again, it involves a lot of different factors when you do the manufacturing like the supply chain and other factors and it doesn't make sense economically replicate the whole effect something whole exco, who simply citrus in the U S. Because it just doesn't work that way but.
Speaker Change: Well, thank you, Olin.
Johnny Tai: Okay, hey Fred, nice to meet you. Thank you for your question. So, for NFL right now, our plan is only available on loads.com. We do have some discussion with loads to expand to their stores. However, I think they have to look at their space availability. And we know the holiday season is coming up. So, they're in a real state. It's quite busy right now. But right now, it's available on loads.com. Thank you. Okay, thank you. That's all. Thank you.
Speaker Change: I think you, you, I think you are a little bit, you know, breaking up, but I think I want to make a, you know, correction.
Arthur Porcari: Next question, please. The next question is from the line of Arthur Prokary with corporate strategies. This is the other question.
Fred Proctor: AllbutLowe'saddedinthepastyearwithababyat1,000independentoutletswithunfortunatelylittleannouncementfromthecompany.
Speaker Change: It's a, the NFL, we have a real license to sell it from the golf cart.
Speaker Change #409: But that yeah, that's oh, Oh, a conclusion for that thank you.
Kewa Luo: Doyouwanttostartthat,Kayla?
Speaker Change #410: And that was that was never my question. My question is existing facilities that we have.
Unknown Attendee: 上個季度還看到我們現在增加到了很多地區,東南亞,中東這些,擴張速度是很驚人的。我的問題是,除了美國和加拿大之外,其實有多少國際地區已經開放,將會開放?
Speaker Change #411: In China that are making all these vehicles that were being the company's been accused by the people on the internet of farming out there. The building if we had to just replicate them in China in China.
Unknown Attendee: 除了美國和加拿大之外,其實有多少國際地區已經開放,將會開放?
What would that value what would it cost the company to replicate just just.
Speaker Change #411: So some of these in China.
Speaker Change #411: Forget about importing.
Alan and I find exactly what she will walk on her male financials yet.
Unknown Attendee: 我的第二個問題是,在你的旅行中,有多少國際地區已經開放,將會開放?
Speaker Change #412: No Kartik NUCYNTA, Uhuh, mango y and check with the evil young.
Speaker Change: It's not the UTV.
Arthur Porcari: Thank you. Well, I'm really happy to see that Johnny and Owen are on board here. Someone who's been involved in Candies since the very beginning. I also had the honor of being invited to come visit. I think in 2021, whatever the K-23 appeared, I guess being the first shareholder would ever have a chance to test drive it. And I was very impressed with the time and kind of disappointing that never had a chance to go, but I can't blame you guys for it.
Unknown Attendee: 账面价值将增加150万至1500万美元,这必须是一个双赢的做法,上个电话会议中CEO也对此的回应是这样的,感谢您的建议,我们非常感谢,我们会考虑并做出适当的回应,管理层是否知道有比以账面价值低30%购买康迪股票更好的投资或现金使用方式,尤其是在过去三年中平均持有的现金位置?
Speaker Change: So right now, you know, it's, it's actually available to older, on low.com.
Speaker Change #413: Yeah that'll.
Speaker Change #413: That'll be borne not so much when you give them all the time or they cannot pay Ebola, but I think nuomi outdoor kind of got ways to go with it down through quality wins out of southern tide up with somebody who's doing that before lunch. It what's the challenge on what that would be what you would have thought to be at HCA getting it to deal with it.
Speaker Change: So I think at, yeah, I agree with what Olin mentioned.
Speaker Change: Thank you for your question.
Speaker Change: Okay, then that it for me just, yeah.
Speaker Change #413: Yeah.
C J: Sit down and go to C J.
Speaker Change: Okay, for just my last remarks for management, especially in China is, you know, there's a good company that's one side and there's a good stock price.
Arthur Porcari: But I can give you those lot of credit for what's happened since then. And I'm really happy to see Owen as joined you, Johnny. He's something a very capable partner and somebody to marshal our assets and investors.
Speaker Change #413: Yeah.
Norman: Does that mean something else to go with me as opposed to go through the call I'll make one I'm Norman he says that make what might be in that Borgwarner Mega Mega simply constitutes element it'll play out you know as soon as I went there. Good job you calculate continue also to champion the cause.
Speaker Change: And these two things often don't match together.
Speaker Change: I think when it comes to company, the, the management has done a terrific job over the last years.
Speaker Change: No, the company float and to strike good deals and to bring the company where it's today.
Arthur Porcari: Anyway, let me get back to my original piece. I wasn't expecting you here, but look forward to maybe taking that short drive up to Dallas and visit you all again soon. Maybe you don't want to one time. Okay. Anyway, Candy happens to have an incredible relationship with loads based on loads seemingly unending support and trust of Candy. Aside from the fact loads picked up Candy two years ago to launch their newest highest cost item in their system.
Speaker Change: But when it comes to the stock price, I'm going to say that there, there are a little bit lagging behind what, for what reason ever.
The boyfriend the country between how much water they are.
That's one of them download upwards, not maybe it's somewhere I'm going to do.
Unknown Executive: So, in order to address your question again, you asked whether you would cost more than $1,000 for your country. Okay, very good.
Speaker Change: So I would say, you know, one could a little bit, you know, concentrate now a little bit also on the stock price for shareholders and to make the stock a little bit, you know, in the public view that there's more attention about candy and what candy can provide.
Speaker Change #416: So in order to address your question again, you asked whether you across more than 300 million right long story short, yes, if we do expect with something but just in the reality.
Speaker Change: Candy can do.
Speaker Change #416: We will we may not do it that way because again, it's not how it works and they ended up with action in the cycle, but yet you did ask the question is yes, you'll be even more than that.
Arthur Porcari: Only a few months after Candy first entered the U.S. Gulf of Carterina. However, initially it was the marketing veteran Coleman with only had one branded cart line back then. And less than a year, a loads this totally dump Coleman out of the picture went directly to Candy picked up Candy's own branded golf carts, the industry's youngest brand as their sole golf carts supplier. And exclusively now show more than 80 variations of Candy carts under web portal. Just check that the other day just to me. Go ahead and pass that on.
Speaker Change #417: That's what I was actually ever vigilant.
Speaker Change #418: 最後一個表達想要說就是公司本身是一個, 很好的公司是一回事 然后公司股价呢又是另外一回事 往往这两者呢不一定会是统一的 我们的公司呢这些年发展的很好 而且也有一路上也有都抓住了很好的机会 到了今天的发展这个地步是很令人欣慰的 但是股价呢却很让人失望 希望管理层在今后能够更加关注到资本市场 股价的表现 这样的话能够帮助股东实现他们的股价的最大化, 谢谢你们回答我的问题 好的,谢谢,谢谢他们, Thank you.
Speaker Change #418: Okay very good.
Unknown Attendee: Okay, well, I guess last comment I have here more of a comment than anything else. I have to admit that in this business 51 years, never seen anything quite like this one where you have a company, where stock is trading well under over $1 share under cash in the stock market. It's gotten very little debt as a book value; it's trading $3 or whatever it is or more under book value. And you just landed probably the cherry project that virtually any golf cart in the world would be trying to get right now what you have with the NFL/Slash Lows.
Speaker Change #419: Well I guess last comment I have here more of a comment than anything else.
Speaker Change #420: Operator, we're ready to take next questions.
Speaker Change #420: To admit Internet business 51 years never.
Speaker Change #421: The next question is from the line of Steve Miller with a private investor.
Speaker Change #421: Never seen anything quite like this one where you have a company.
Speaker Change #421: Where the stock is trading well under or over a dollar a share under cash and the stock market.
Speaker Change #421: Please proceed with your questions.
Speaker Change #421: Good morning, Kewa.
Speaker Change #421: You said in your press release today that the United States is your primary market, and that the increased freight shipping expense from China to service your expanding customer base was the reason for the biggest increase in your selling and distribution expense.
Speaker Change #421: Although I can guess as to the reasons for your recently announced partnership with Hartford Industries in Taiwan for manufacturing, why don't you have manufacturing facilities in your primary market, the United States, especially as you contemplate spinning off Kandi America to be an independent, publicly traded company?
It's got very little debt as the book value of its trading.
Unknown Attendee: Kandi一直在考慮為Kandi美國進行潛在的裁判上市,但是相關進展信息沒有發佈之前,我們根據相關規定,目前我們暫不討論這個事情。那么这笔交易是为了满足公告第一段中提到的文中这样写道,将确保生产符合所有必要的制造标准、法规要求以及自制率的要求,以满足出口美国和台湾本地生产的规定。谢谢!
Unknown Attendee: 您的意思是,除了美國外,有多少國際地區已經開放?
Speaker Change #421: $3 or whatever it is are more under book value.
Speaker Change #422: And you just landed probably the Cherry project that virtually any golf cart country in the world would be trying to get right now what you have with the NFL slash lows plus you have a sponsor like Lowe's and you've got Walmart you got the campus World you got all these others and Mr.
Unknown Attendee: Plus, you have a sponsor like Lowe's, and you've got Walmart, you've got the campus world, you've got all these others, and the stock is sitting down here.
Speaker Change #423: <unk> is sitting down here.
Unknown Attendee: You've got to do something about getting the stock price up. I know even all of them is the second, I believe the second largest shareholder in the company now. And if I'm not mistaken, I think one year ago, he did a deal with $3.30 a share; you can't be too happy with that either.
Speaker Change #424: You Gotta do something about getting the stock price up I know you've even all of them is the second the.
Speaker Change #425: The second largest shareholder of the company now and if I'm not mistaken I think one year ago. He did a deal with.
Speaker Change #426: But $3.30 a share.
Speaker Change #426: Can't be too happy with that either so we've got to do something and I think the only thing you can do in the United States as you got it you got to do something very definitive and.
Unknown Attendee: So we've got to do something, and I think the only thing you can do in the United States is you've got to do something very definitive. And if normal circumstances are doing a deal with Lowe's, would take any other stock up to $10 a share. We know this stock can actually do that because right after Candy America was brought on board to stock one up to $19 a share just based on that. And then they were doing $10 million in revenues. This year you're probably going to do $150 million in revenues. Just Candy America portion or more.
Unknown Speaker: In the past two years, we have experienced a lot of challenges. But Lofts chose Kandi in a few months. We went to Kandi before that. We had a deal with a deal with Kandi and Lofts. But in the past, we had a deal with Kandi and Lofts. [inaudible] Please go ahead.
Speaker Change #426: Yeah.
Speaker Change #426: Normal circumstances don't want to deal with Lowe's would take any other stock up to $10 a share.
Speaker Change #426: We know this stock we know there's stock can actually do that because.
Speaker Change #427: Right. After Candy America, which was brought on board the stock went up to $19 a share just based on that and then they were doing 10 million in revenue. This year, you'll probably going to do $150 million in revenues just Candy America portion.
Speaker Change #426: Or more.
Unknown Attendee: And so that's just my final comment here. If anybody wants to comment on it, I appreciate it. But if not, you know, we should have a great third quarter now because I guess you haven't done no revenues have shown up yet because you're starting now in August from the lows. Of course, I mean, NFL program. So I would think we're going to have a great third quarter. And maybe I'm wrong. If anybody wants to address that or not.
Speaker Change #426: So that's just my final comment here, if anybody wants to comment on it I appreciate it but if not.
We should have a great third quarter now because I guess you haven't done.
Speaker Change #428: No revenues have shown up yet because you're starting now in August from the lows.
Speaker Change #428: Of course, I mean, NFL program, so and we think we're going to have a great third quarter.
Maybe I'm wrong, if anybody wants to address that.
Unknown Executive: Anyway, thank you.
Speaker Change #428: Anyway. Thank you.
Kewa Luo: Thank you for your remarks.
Speaker Change #429: Thank you for your remarks to talk to them.
Unknown Executive: Next, I would like to say that in his 51 years of experience, I've never seen a company like this in front of me. It's so high and beautiful, and it's so low.
Speaker Change #430: That Howard wishing you and I think I see actually on some of the male condom constantly gentlemen jobs here.
Speaker Change #431: I'll call I'll pass out with him a deep and beautiful and simply shows where they shop like I've entered the central and Shimon constantly send usually at buckle hot that easily.
Unknown Executive: I think the company has to do something to change the situation. I hope the third quarter has a better influence.
Operator: Operator, let's that's all.
Operator: Operators, that's all. Thank you.
Thank you.
Operator: Thank you 这个问题他说我们今天发布的新闻里面有讲到现在美国市场是我们的主要的销售, 他就想問 我們現在既然我們的銷售的主要中心在美國 以及我們又會讓康迪美國進行分拆的上市 那我們為什麼不把我們的生產的設施設立在美國 而去設置到臺灣 这个应该这么说,我们美国在搞组装,也在筹备当中,但是这个你懂得我们为什么要转到Pfeffer,就是通过台湾去监督,这个我们现在不想很多的讨论, So, we actually are considering assembling our production line in the U.S. in the future.
Speaker Change #433: It's definitely in our plan.
Kewa Luo: I'll turn the call back to management for any closing remarks. Thank you again for joining today's conference call. If you have any further questions, please don't hesitate to contact our IR consultant at Gary at BlueShirtGroup.co, or you can contact us directly at IR at KandiGroup.com. We look forward to updating you on our next earnings call.
Speaker Change #433: So, the collaboration with Taiwan is a strategy, and we may not, you know, discuss too much about that in this call.
Speaker Change #433: I'll turn the call back to management for any closing remarks.
Speaker Change #433: All right.
And thank you again for joining today's conference call. If you have any further questions. Please.
Speaker Change #433: I'm quite active understatement on social media, especially regarding Kandi.
Speaker Change #433: And there seems to be a campaign against Kandi by detractors on a lot of internet chat boards, claiming that Kandi is nothing more than a reseller of private labeling of its array of golf carts and various UTVs, ATVs, go-carts, other off-road electric vehicles, and even lithium batteries made by other manufacturers.
Speaker Change #433: As long-time Kandi followers are aware, this is a false narrative, but easy for detractors to say, since Kandi does not have a high-profile corporate website in English that showcases its in-house capabilities.
Speaker Change #433: Kewa, do you want to go ahead and translate that?
Speaker Change #433: OK. 最近就是在互联网上有看到很多就是对康迪不是很好,很反对的声音,就是总是在, 在声称康迪不过就是其实是一个转售商 就是把其他制造商生产的高尔夫球车呀 各种UTV、ATV的 贴上去 甚至还有锂电池贴上去的标签 在这边来销售 但其实这种说法是错误的 对于长期关注康迪人呢 他们是很清楚 但是由于康迪没有一个做得非常非常完善 非常容易读懂的一个英文的公司网站 来展示其公司内部的制造能力 所以这种误解呢就很容易发生 Okay, thank you.
Speaker Change #433: So we all know, obviously, that Kandi stock is extremely undervalued, especially even though it's a highly integrated major manufacturer.
Speaker Change #433: Now I've got three quick related questions.
Speaker Change #434: So a few conference calls back, a question was asked as to what percentage of the cost of a typical Kandi, Vehicle, for lack of a better term, such as a golf court, was actually manufactured by Kandi in its own malleable, state-of-the-art facilities, throughout whatever cities in China and now Taiwan.
Speaker Change #434: Was that 90% response accurate?
Speaker Change #434: I believe at the time you said that a short management reply was somewhere around 90%.
Speaker Change #434: And if so, can you briefly tell us, for the record, about each of Kandi's owned various facilities, specifically where they are located, what kind of products are made in each facility? And also, can you comment about the current percent of capacity being used in each facility and the maximum annual capacity available at each facility?
Speaker Change #434: Don't hesitate to contact our IR consultants at Gary at Blue shirt Group C O or you can contact us directly I are at Kandi group Dotcom, we look forward to updating you on our next earnings call. This concludes our call for today. Thank you very much you may now disconnect.
Speaker Change #434: Could you go ahead and translate that?
Speaker Change #434: OK,所以我的第一個問題,我想問,當時您回答的90%是我們在自己的生產基地裡面生產,這一個答復是否仍然是正確的?
Speaker Change #434: 大家也知道就是現在康迪目前的市值是1.6億美元,這是很低的,然後之前就是我們有一個問題,就是問到我們康迪這些產品,比如說像什麼高爾夫座這些, 有多少的整個車有百分之多少是在我們自己的生產基地來生產的,當時我記得管理層是這樣回答說大概90%。 Thank you.
Speaker Change #434: 如果是正確的話呢,您是否能夠詳細的介紹一下,康迪所有自己的生產設施,就是他們每一個的所在地,然後他們每一個生產基地所現在生產的主要產品, 然後他們的年產量,他們最大的年產量, 产能,还有他们的利用率,以及就是这些设备平均的使用使用年限。 Xiaoming Hu, Terry Mclemore, Kandi Tech Grp, 我们康迪在海南基地主要是生产高尔夫球车等系列车 在京華基地主要生產農夫車、ATV、沙灘車等系列車輛。 那么我们的永康基地主要是生产电梯和电控产品 江西基地主要是生產鋰電池及電池PAC, 那么我们整个康迪公司拥有年产超过十万辆各种车辆及相关零部件的生产能力 谢谢, So...
Speaker Change #434: Thank you.
Speaker Change #434: In other words, a number or a close number.
Speaker Change #434: First of all, Kandi's finance base mainly produces the golf clubs and other spheres of the model.
Speaker Change #434: 我只想知道現在目前除了美國和加拿大 我們目前已經在哪些國家有多少個網點已經開設了 我想知道一個具體的數字, 除了美国和加拿大之外,我们一直都在欧洲和东南亚都在积极地开拓市场, 那么目前我们已经进入了十几个国家在试行。 So, apart from our U.S. and Canada market, we're also exploring the European and Southeast Asia market. We are currently working in more than a dozen countries for the trial sales.
Speaker Change #434: Our Jinhua base mainly produces the UTVs, ATVs, the beachcars, and other series of the models.
Speaker Change #434: Thank you.
Speaker Change #434: Our Yongqian base mainly produces the motor and electronic control products and the parts.
Speaker Change #434: My second question.
Speaker Change #434: I think I have one or two more items here.
Speaker Change #434: Whereas our Jiangxi base mainly produces delivery batteries and battery pack products.
Speaker Change #434: In your travels, have any multi-store chains been targeted for international growth?
Speaker Change #434: It is kind of prior things that were said.
Speaker Change #434: Overall, Kandi has an annual production capacity of more than 100,000 various types of vehicles and related parts.
Speaker Change #434: In other words, large stores, chains like... Wal-Mart and Lowe's.
Speaker Change #434: One of the questions I had was, since Kandi is going to spin off Kandi America as a separate entity, wouldn't it be wise to bring the CEO and perhaps Olin on the call in the future?
Speaker Change #434: Thank you.
Speaker Change #434: Thank you.
Speaker Change #434: But you all did that, so there you go.
Speaker Change #434: 那个家具90%的那个自制力应该是正确的, Oh, and by the way, you know, it's correct that our own manufacturing rate of the Kandi products does exceed 90%.
Speaker Change #434: You mean internationally, outside of U.S., any?
Speaker Change #434: Let's see.
Speaker Change #434: We look forward to updating you on our next earnings call.
Speaker Change #434: Thank you.
Speaker Change #434: Multistore change, big change, big companies, big story.
Speaker Change #434: 让我翻译一下您刚才说的话 我刚才提到的这几个产品 然后总的一个客户满意度 有个4.5星的评价 他觉得这是相当不错的 然后之后他又提到 以后康迪美国上市之后 希望康迪美国的CEO管理层 Johnny和Olan 能够上电话会议上面来讨论 但是很惊讶 没有想到今天他们就已经在线上和大家讨论了 这样非常好, Okay, continue with your question if you have any.
Speaker Change #434: Out of curiosity, I don't know if this is possible, if one was to go and do a total replacement of your facilities and equipment, do you have any estimate of what the total cost would be in U.S. dollars that someone would need to invest to replicate all of your facilities and equipment?
Speaker Change #434: I know outside of U.S.
Speaker Change #434: Yeah, okay, just a couple of more light ones over here.
Speaker Change #434: Hi, do you mean just any one of facilities or all of the facilities we are going to replicate in the U.S.?
Speaker Change #434: Yes, for an international group.
Speaker Change #434: This is a follow-up on a question somebody else asked over here.
Speaker Change #434: All of your facilities.
Speaker Change #434: 他问就是除了一些在美国国内 比如说像Lowe's 沃尔玛这样的连锁大卖场 在国际上我们是否已经跟这些有名的连锁大卖场 有进行了潜在的合作, 這是剛才說了,美國那邊跟幾個大超市我們都已經建立了 合作关系 但是 那个其他国家 其实他他大我 大卖场是很小的 都是经销商的一个个在 跟我们, 在採購我們的產品在市銷, So in U.S. we do work with those, the large scalable retails or chain.
Speaker Change #434: I'm never sure we got the right answer for it or the answer that was understandable.
Speaker Change #434: This concludes our call for today.
Operator: This concludes our call for today. Thank you very much.
Speaker Change #434: I'm just trying to get a sense of what it would take if some third party came in and wanted to do what Kandi is currently doing.
Speaker Change #434: However, in other countries, like the European countries, we actually tend to work with the... Distributors instead and so that's our plan for now.
Speaker Change #434: Had to do with the total valuation of all of Kandi's facilities if they had to be replicated.
Speaker Change #434: What kind of cost would it be to them to replicate all of your current facilities and equipment without regard to where they're located?
Speaker Change #434: Thank you, Okay, thank you very much.
Speaker Change #434: Well, I remember for a fact that Kandi built from scratch the Haneen facility, which has the 100,000 capacity.
Speaker Change #434: Thank you very much.
Speaker Change #434: 他說他他就很好奇他如果現在有一個第三方想給抗敵投資在美國建廠 如果要要把所有我們現有的在中國的各個廠的能力和現設備 要同樣的複製在美國的話 要建立這麼一個廠就是要要有多大的投資 就是大概, 才能够达到我们现在的 应该这么说,就是全部移过去,这也是不现实的 但是在美国,先搞CKD,逐步逐步扩大,这是我们已经在规划 具体多少投资,那等预算出来才知道, Thank you for your time, Mr. Pfeffer.
Speaker Change #434: I have a quick question for Johnny, if we could.
Speaker Change #434: And that was, I believe, four or five years ago, and that was done for about $200 million by itself.
Speaker Change #434: You may now all disconnect.
Operator: You may now all disconnect. Thank you for your participation.
Speaker Change #434: Okay, and Alan, I'm not sure I'm not sure if it broke up, or I just didn't understand that 90% number back from your previous answer in terms of what percent of a typical, like a golf cart is actually made by Kandi versus products acquired from outside is 90% still an accurate percentage?
Speaker Change #434: How many of those stores does he expect the NFL carts to be involved with.
Speaker Change #434: Subsequent to that, I know they've put up, sold it, the old facility and built a brand new facility in Genoa.
Speaker Change #434: It is.
Speaker Change #434: 最後這個問題呢我是想問一下Johnny 他想知道就是NFL的這款車 這些系列的車將會在Lowe's的多少家門店會進行?
Speaker Change #434: And I guess that's where they're making your off road products.
Speaker Change #434: Yeah, it is.
Speaker Change #434: Okay, hey Fred, nice to meet you.
Speaker Change #434: So it would seem to me that the value of all those facilities, which if it had to be replicated today would certainly be in excess of 300 million, maybe a bigger number than that.
Speaker Change #434: Okay.
Speaker Change #434: Thank you for your question.
Speaker Change #434: Am I wrong?
Speaker Change #434: Thank you for your participation.
Speaker Change #434: Thank you for your participation.
Speaker Change #434: And then my last question is, your China based website, quite frankly, seems to be outdated in that its images and videos are still heavy, on EV autos and trucks.
Speaker Change #434: So for NFL right now, our plane is only available on Lowe's.com. We do have some discussion with Lowe's, to expand to their stores.
Speaker Change #434: You want me to read 100 million what?
Speaker Change #434: What about updating that site?
Speaker Change #434: However, I think that they have to look at their, you know, space availability and we know the holiday season is coming up so they're you know real estate is quite busy right now so but but you know it's right now it's available on Lowes.com, Thank you.
Speaker Change #434: Okay, originally, the original Henan facility was built for around $200 million by Kandi, four or five years ago.
Speaker Change #434: And on all of your websites, and this is related to my to the previous questions, can you at least create a PowerPoint presentation on your state-of-the-art manufacturing facilities and capacity?
Speaker Change #434: Okay.
Speaker Change #434: And the new facility we have in Jinhua, which is I guess there are two or four or five facilities in various cities are making vehicles, where I believe they're making the cowboy.
Speaker Change #434: So people who have questions about Kandi and in terms of how much you're actually manufacturing versus how much you're obtaining from third parties and then putting on your label exists, I think that would be actually quite helpful and counteract some of the claims out in social media.
Speaker Change #434: Thank you.
Speaker Change #434: I don't know what that Hu 总他这个问题他是想就是跟进一下上一个提问的人所问到的 如果我们如果我们要把中国的生产设施复制到中国国内 因为从他看到我们所披露信息五年前我们花了大概两个亿来建建设了海南的这个生产基地 然后呢又有新的精华的基地大概是一个亿 他想问是不是如果要把这个同样产能的生产设施复制到美国 在美国当地建立的话是不是这个花费至少是三个亿往上, 这个要看情况,这个我们要做方案,现在我答不出来 一个是规模,一个是哪些东西在那边生产,哪些东西在国际上采购 这个还要做可研报告,我们首先都是CKD先做,那么逐步逐步形成那边的生产 Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Terry Mclemore, Kandi, So what you're not even willing to commit to the fact that the original cost of the facilities without taking all that other consideration.
Speaker Change #434: And that's all I've got.
Speaker Change #434: That's all.
Speaker Change #434: Well, I guess my question basically is, is it worth at least $300 million if you had to rebuild the whole thing again?
Speaker Change #434: Thank you.
Speaker Change #434: Thank you.
Speaker Change #434: 他说你都不能够确认就是如果在中国花了三个亿 就是是不是在美国就是如果我们要复制这样的生产基地 至少要花三个亿就是这个你都不能够确认, 他要是一模一样的,也是做这么大的规模,也是90%以上要自己生产,那肯定在美国还会更贵,还会超过这个,但是我们要是在美国去生产的话,那有些部件什么东西还是要在国际上采购,整个供应链肯定不会100%在美国,所以他的投入那肯定是不一样的, 所以这个要可颜预算出来以后才能 有这个数据 因为你刚才说的要是一模一样 就是考过去的话 一是没有必要 那么三呢 也是得不合算 所以, 当然刚才说的 假如说一模一样考过去那肯定是要超过中国 美国肯定比中国贵, Yeah, that's our conclusion for that.
Speaker Change #434: Thank you.
Speaker Change #434: Thank you.
Speaker Change #434: Thank you.
Speaker Change #434: 他最后一个问题呢 他是说现在康迪的中国的官网啊 是是有些过时的 而且上面大部分的图片啊 视频仍然是以电动汽车和, 卡车为主 而现在康迪其实的这个产品已经早就换成非公共用车了 它是不是有可能就是在康迪的网站就是进行一个全面的更新 然后呢有一些信息 比如说一个非常完整的演这个PPT展示 来显示中国我们的各个工厂的设施和产能 这样的话才能够以事实来证明我们公司的生产能力 90%是我们自己生产的 多少是外面人生产的 不然就是在网上的谣言会不断的持续 这就是我的, 谢谢你的意见,你提的这些意见都很好,那么你说的这些事情我们大部分都已经调整了,当然我们还会进一步的进行完善。 Thank you for your suggestions and feedback, they are very constructive.
Speaker Change #434: Next question.
Speaker Change #434: That was never my question.
Speaker Change #434: We have actually been working on, already adjusted most of those items.
Speaker Change #434: The next question is from the line of Arthur Porcari with Corporate Strategies.
Speaker Change #434: My question is the existing facilities that we have, in China, that are making all these vehicles that we are being the company's being accused by the people on the internet of farming out the building.
Speaker Change #434: And of course, we will further improve them to make them more accessible to our investors.
Speaker Change #434: Thank you.
Speaker Change #434: If we had to just replicate it in China, in China.
Speaker Change #434: Thank you.
Speaker Change #434: Well, I'm really happy to see that Johnny and Olin are on board here.
Speaker Change #434: What would that value, what would it cost the company to replicate just just the facility?
Speaker Change #434: Our next question is from the line of Fred Proctor with Clean Tech Investments.
Speaker Change #434: Someone that's been involved in Kandi since the very beginning.
Speaker Change #434: in China.
Speaker Change #434: Good morning, with existing outlets in North America, which we know include Lowe's, 2,500 outlets, Walmart, 4,500 outlets, Amazon, Campers, World, Costco Canada, 108 outlets, National Big Box stores along with PV, Mark slash H Hardware Canada, 200 outlets.
Speaker Change #434: I also have the, Honored to be invited to come visit back in I think 2020 or 2021 whenever the K23 appeared to I guess be the first shareholder to ever have a chance to test drive it.
Speaker Change #434: Forget about importing.
Speaker Change #434: All but Lowe's added in the past year with a baby at 1,000 independent outlets, with, unfortunately, little announcement from the company.
Speaker Change #434: And I was very impressed with the time, kind of disappointed it never had a chance to go, but I can't blame you guys for it.
Speaker Change #434: Alan您來翻譯一下這個是不是我剛才沒有翻譯, 那胡總他的意思是 如果我們要完全複製一模一樣的整個生產鏈 到美國應該怎麼處理 因為我都答應 我都跟他回過了 本來這個如果我們要做 肯定更貴 是吧 但這個不是這樣去管理 不是這麼生產的 不是這麼運營的 你不會完全複製 從中國到美國 因為很多的別的一些原因 條件不一樣 但他還是想了解更多的細節 这个没有什么好细节,我们要是复制过去的话,美国呢,我们现在,美国那边的,包括那个,那个Supply啊,或者投资啊,我们都不了解,那现在我这个价,但是有一条可以肯定,要是全复制过去,一,是不会复制过去,不会那么做的,第二的话呢,假如说复制,那肯定比中国要贵得多。 So, in order to address your question, again, you asked whether you will cost more than $300 million, right?
Speaker Change #434: You want to start that, Kewa?
Speaker Change #434: But I can give you guys a lot of credit for what's happened since then.
Speaker Change #434: Long story short, yes, if we do exactly the same thing, but just in reality, we may not do it that way, because again, it's not how it works in the production in the cycle.
Speaker Change #434: fun 他说在我们去年就是增加了很多 抗击美国增加很多的销售的合作伙伴 光这个loss就有上千个 但是我们却没有什么新闻来展示我们在这个, 这件事情上面的进展, Please continue.
Speaker Change #434: And I'm really happy to see all of us joined you, Johnny.
Speaker Change #434: But yeah, in order to answer your question, yes, it will be even more than that.
Speaker Change #434: Just since the last conference call, it appears from sources.
Speaker Change #434: Sounds like a very capable partner and, Somebody to marshal our assets as investors.
Speaker Change #434: That's what I was asking.
Speaker Change #434: Several new international outlets have been opening, to include a very impressive, which we talked about, Southeast Asia Thailand location, along with Aruba, Curacao, Dominican Republic, and Dubai, and even now in the EU market.
Speaker Change #434: Anyway, let me get back to my original piece.
Speaker Change #434: Okay, very good.
Speaker Change #434: Go ahead, Kewa, and end my question.
Speaker Change #434: I wasn't expecting you here, but look forward to maybe taking that short drive up to Dallas and visit you all again.
Speaker Change #434: Okay, well, I guess last comment I have here more of a comment than anything else.
Speaker Change #434: 他说上个季度还看到就是我们现在增加到了很多地区 什么东南亚呀 那个中东啊 这些就是这个扩张速度是很惊人的, Continue, please.
Speaker Change #434: Unknown Speaker Maybe meet up one too one time.
Speaker Change #434: I have to admit, been in this business 51 years, never seen anything quite like this one where you have a company where a stock is trading well under over over a dollar a share under cash in the stock market.
Speaker Change #434: Okay, my question is outside of the U.S. and Canada.
Speaker Change #434: Okay, anyway.
Speaker Change #434: It's got very little debt as a book value, it's trading $3 or whatever it is, or more under book value.
Speaker Change #434: Actually, how many international?
Speaker Change #434: Kandi must have an incredible relationship with Lowe's based on Lowe's seemingly unending support and trust. Aside from the fact Lowe's picked up Kandi two years ago to launch their newest highest cost item in their system, only a few months after Kandi first entered the U.S. golf cart arena.
Speaker Change #434: And you just landed probably the cherry project that virtually any golf cart country in the world would be trying to get right now, which you have with the NFL slash Lowe's.
Speaker Change #434: ... ... ... ... ... ... ... ...
Speaker Change #434: However, initially it was through marketing veteran Coleman, who only had one branded cart line back then.
Speaker Change #434: Plus, you have a sponsor like Lowe's.
Speaker Change #434: Locations have been opened and are soon to be opened.
Speaker Change #434: In less than a year, Lowe's has totally dumped Coleman out of the picture, went directly to Kandi, picked up Kandi's own brand of golf carts, the industry's youngest brand, and as their sole golf cart supplier, and exclusively now show more than 80 variations of Kandi carts on their web portal.
Speaker Change #434: And you got Walmart, you got the campers world, you got all these others and the stock is sitting down here.
Speaker Change #434: Just checked that the other day, just amazing.
Speaker Change #434: You got to do something about getting the stock price up.
Speaker Change #434: I'll go ahead and pass that on.
Speaker Change #434: I know even even Olin is the second, I believe the second largest shareholder in the company now.
Speaker Change #434: OK,首先他说非常高兴今天能够听到康迪美国的管理层 Johnny和Olan上线 在好几年前 2021年我有幸被邀请到康迪美国的德州的 参加他们K23的产品仪式 Johnny是一个很能干 很有业务能力的 也非常高兴看到康迪今天能够取得这样的成就 我的第一个问题是关于Lowes的几个相关问题 康迪和Lowes看得出来这个关系是非同一般的 就是从Lowes对康迪源源不断的支持 就可以能够注意得到 尽管康迪仅在两年前才进入高尔夫球车的市场 但是Lowes却几个月内就选择康迪 我们大家也知道康迪之前是通过跟Coleman合作 来卖高尔夫球车的 但不到一年就直接跨过Coleman和Lowes合作了 而且还将康迪这一行业内最年轻的品牌 纳入了他们的高尔夫球车的产品线 Lowes成为康迪唯一的高尔夫球车供应商, Please continue.
Speaker Change #434: And if I'm not mistaken, I think one year ago, he did a deal that but $3.30 a share, you can't be too happy with that either.
Speaker Change #434: I'm beginning with the narrative and then I have a few questions.
Speaker Change #434: So we got to do something.
Olin Rice: Okay, and again, appropriate to have Nolan on board for the rest of my questions here. In Management's opinion, why did Lowe's pick Kandi in this, Kandi's, well, you already said that, extends for the full remaining three years of the Lowe's NFL agreement. That part, I think you already agreed, it does. But your opinion, why did Lowe's pick Kandi in Olin probably the appropriate person to ask that question too? The question, I just want to ask Kandi's Olin, I just want to know why Lowe's pick Kandi in Olin.
Speaker Change #434: Then just a few months later, Lowe's pays $100 million to renew and expand its four-year relationship for the sole exclusive rights to become the official Lowe's home team sponsor to the National Football League, and for the first time, Lowe's adds golf carts to their NFL sponsorship inventory.
Speaker Change #434: And I think the only thing you can do in the United States is you got to, you got to do something very definitive.
Speaker Change #434: Coincidentally, this is the largest single big ticket item that lows sales nationwide by a double.
Speaker Change #434: And, you know, if normal circumstances doing a deal with Lowe's would take any other stock up to $10 a share, we know this stock, we know this stock can actually do that because right after Kandi America was brought on board, the stock went up to $19 a share just based on that.
Speaker Change #434: But instead of bringing in any one of the more seasoned golf cart makers who would love to have had this account, they took what most would think was a risk to their reputation and picked the new kid, Kandi, and staked their reputation on it.
Speaker Change #434: And then they were doing $10 million in revenues.
Speaker Change #434: Plus, they put up that $100 million.
Speaker Change #434: This year, you're probably going to do $150 million in revenues, just Kandi America portion or more.
Speaker Change #434: Go ahead and pass that on.
Speaker Change #434: And so that's just my final comment here.
Speaker Change #434: 另外呢就是在几个月后呢 我们看到Lowes再次做出了重大的决策 投入了1亿美元 续约并扩大双方四年的合作关系 成为了成为了NFL官方的Lowes Home Team的赞助商 首次呢将高尔夫球车纳入其产品线 而且这款高尔夫球车呢也成为Lowes 在全国范围内销售最大的单价产品 销售比其他产品高出两倍 而且令人惊讶的是 Lowes没有选择那些经验 很丰富的老牌高尔夫球车的制造商 而是冒着巨大的生育风险 选择了新秀康迪 将其1亿美元投资压在康迪的身上 对此呢我有以下几个问题想请教, Please go ahead.
Speaker Change #434: If anybody wants to comment on it, I'd appreciate it.
Speaker Change #434: Okay, and again, appropriate that you have Nolan on board for the rest of my questions here.
Speaker Change #434: But if not, you know, we should have a great third quarter now because I guess you haven't done, no revenues have shown up yet because you're starting now in August from the Lowe's, I mean, NFL program.
Speaker Change #434: In management's opinion, why did Lowe's pick Kandi, and does Kandi's, well, you already said that, extends for the full remaining three years of the Lowe's NFL agreement.
Speaker Change #434: So I would think we're going to have a great third quarter.
Speaker Change #434: That part I think you already agreed it does.
Speaker Change #434: Maybe I'm wrong.
Speaker Change #434: But in your opinion, why did Lowe's pick Kandi, and Olin probably the appropriate person to ask that question.
Speaker Change #434: If anybody wants to address that, address that or not.
Speaker Change #434: 這個問題我想就是問一下Kandi美國的Olin 我就想知道從在管理層看來 你們覺得為什麼Lowes會選擇Kandi?
Speaker Change #434: Anyway, thank you.
Speaker Change #434: So, thanks for the question.
Speaker Change #434: 在他51年的這個實驗生涯,從來沒有看到一個公司賬面價值這麼高,而股票價值這麼低,覺得公司必須要做點啥來改變這個現狀,希望公司第三季度有個更好的盈利。 Operator, that's all.
Speaker Change #434: Obviously Lowe's, like any of the major mass retailers, has a very rigorous vetting process, for Vendor Selection and Product.
Speaker Change #434: Thank you.
Unknown Attendee: Okay,Iunderstand.
Speaker Change #434: So over the course of that short window of time that you referred to, we've become one of the key partners in the outdoor recreational space, particularly in the electric side of that space.
Speaker Change #434: I'll turn the call back to management for any closing remarks.
Speaker Change #434: And I think that a lot of that's due to our quality and the value proposition and a high level of trust that we've developed.
Speaker Change #434: Thank you again for joining today's conference call.
Speaker Change #434: Okay, is Lowe's planning on including actual golf carts and or six passenger carts?
Speaker Change #434: If you have any further questions, please don't hesitate to contact our IR consultant at gary at blueshirtgroup.co, or you can contact us directly at ir at kandigroup.com.
Speaker Change #434: I asked that question after recently visiting a Galveston beach car rental business and a golf course who would be happy both the cases to buy a fleet of NFL cars even if they had to buy them from Lowe's to put them in the rental.
Speaker Change #434: 我的第二个问题是我想问一下Lowes会不会计划纳入那种高富求车或者是那种六座车 我问这个问题因为我最近有访问一个地方 一个俱乐部他们说会对这种车很有兴趣 甚至会直接向Lowes来购买 所以我想知道一下您的计划, Yes, so I can answer this as well.
Speaker Change #434: We are currently a supplier to Lowe's with six passenger cars in a limited store.
Speaker Change #434: Unknown Speaker We also have a very robust business with them online for that product along with a number of other categories.
Speaker Change #434: Report on-line.
Speaker Change #434: And as far as future Lowe's commitments to product offering, particularly on the floor, that's something that I wouldn't want to comment on because that's kind of an always evolving process for these major retailers as they look at the real estate they have available and what products make sense on that.
Speaker Change #434: Well, that wasn't quite my question.
Speaker Change #434: My question was specifically had to do with the NFL.
Speaker Change #434: Again, you can imagine a Galveston car rental, cart rental company over there would love to have some, some, I hate to say it, cowboys too, but Texans carts to go ahead and let people go up and down the seawall.
Speaker Change #434: And as far as the golf cart, of course, is concerned, they think it'd be quite interesting to have actual golf carts where you put the golf bags in the back.
Speaker Change #434: I mean, this model that you have right now is a beautiful model is 4P all forward facing seats, but it's not really golf compatible.
Speaker Change #434: And yet the sport of golf and the sport of football seem to have some sort of a relationship over here, more so than most other, Sports, as you well know, so.
Speaker Change #434: Unknown Attendee, Kewa Luo, Xueqin Dong, Arthur Porcari, Xiaoming Hu, Terry Mclemore, Kandi Tech Grp, Right now, the agreement is around 4P card and any NFL products that are.
Speaker Change #434: So I'm not sure if that answers your question totally, but.
Speaker Change #434: That's our story.
Speaker Change #434: Thank you.
Speaker Change #434: But is it something that that that you might have an interest in doing or presenting for those to maybe, have that or would be just too difficult to rekey.
Speaker Change #434: It seems like basically you're putting a wrap on an existing product that we already have and putting a logo embroidered into the headrest and getting maybe a couple of thousand dollars more for the equivalent.
Speaker Change #434: It would just seem like it'd go hand in hand and didn't know whether that had been in the discussion yet, but if not, maybe it's something worthwhile.
Speaker Change #434: That doesn't require a response unless you want to respond to it.
Olin Rice: Thanks for the question. Obviously Lowe's like any of the major mass retailers has a very rigorous vetting process for vendor selection and product selection. And so over the course of that short, one to a time that you referred to, we'd become one of the key partners in the outdoor recreational space, particularly in the electric side of that space. And I think that a lot of that studio equality and the value proposition and the high level of trust that we've developed with that team.
Speaker Change #434: I'll say this, we obviously are interested in expanding as success of the program dictates.
Speaker Change #434: So I think that everything could be on the table.
Unknown Attendee: 多家店鋪,大型店鋪,大型公司,大型店鋪。您的意思是,除了美國外,有多少國際地區已經開放,將會開放?
Speaker Change #434: But at this point, we're so early into the program, I think we're going to, we're going to play.
Speaker Change #434: 4P, and then I'm sure that there will be conversations if this, Sure.
Speaker Change #434: As we just discovered, this is a three-year deal, which makes it that much more exciting.
Speaker Change #434: I'm sure it does for you as well.
Speaker Change #434: Anyway, on the last conference call, management responded to a target question originally asked on the conference call in 2022, confirming it still had a high-end goal of possibly achieving as much as $500 million in revenues for 2025.
Speaker Change #434: But I suspect that number certainly would have gotten lower now, but still a pretty impressive number because of the economy in general.
Speaker Change #434: It's a long way from 120 million, or maybe 200 million, 210 million we'll do this year.
Speaker Change #434: Anyway...
Speaker Change #434: Let's see, Lowe's, I'm just looking at some notes I have over here.
Speaker Change #434: Oh, one other point I wanted to bring to your attention.
Speaker Change: Then the stock price could go significantly higher from the current position.
Speaker Change #434: I guess you're probably aware of this, but, you know, they do, as I mentioned, they actually have about 80 different variations of your golf carts on Lowe's website.
Speaker Change #434: Of course, you're exclusive at Lowe's.
Speaker Change #434: I'm talking about in general.
Speaker Change #434: But what's interesting is, is there are several hundreds of five star of the rating system, you know, on these golf carts, I don't know you're aware or not, but you got an overall 4.5 plus rating.
Speaker Change #434: If you add in all those, all the various different Kandi provided products, which is pretty phenomenal and speaks very highly to the, At least the thought of the customers that have been buying the vehicles through them.
Speaker Change #434: That's a real feather in y'all's cap, but Anyway, Go ahead and pass that on.
Speaker Change #434: But what's your question, Art?
Speaker Change #434: Okay.
Speaker Change #434: Well, okay.
Speaker Change #434: Well, basically, well, that really wasn't a question.
Speaker Change #434: I guess that was more of a, more of a comment that I had here and only kind of asked the first part.
Speaker Change: Thank you for taking my questions.
Speaker Change #434: Oh, let me see.
Speaker Change: Thank you, operator.
Olin Rice: Okay, is Lowe's plan on including actual golf carts and her six passenger carts? I asked that question after recently visiting a Galveston each car rental business and a golf course who would be happy open cases to buy a fleet of NFL carts, even if they had a buyer from Lowe's to put them in the rental pool. My second question is whether Lowe's plan would be a high-speed car or a six-speed car.
Speaker Change: We're ready to take next question.
Unknown Attendee: 您的意思是,除了美國外,有多少國際地區已經開放,將會開放?
Speaker Change: The next question is from the line of Steve Miller with a private investor.
Speaker Change: Please, we'll see with your questions.
Olin Rice: Yes, so I can answer this as well. We are currently a supplier to Lowe's six passenger carts in a limited store count of a couple hundred doors. We also have a very robust business with them online for that product, along with a number of other categories that perform well online. And as far as future Lowe's commitments to product offering, particularly on the floor, that's something that I wouldn't want to comment on because that kind of always evolving process for these major retailers as they look at their real estate they have available and what products make sense on their floor.
Speaker Change: Good morning, Kewa.
Olin Rice: Well, that wasn't quite my question. My question was specifically had to do with the NFL. Again, you can imagine a Galveston car rental car rental company over there would love to have some, I hate to say it cowboys too, but Texans carts to go ahead and red people go up and down the sea wall. And as far as the golf car of course is concerned, they think it'd be quite interesting to have actual golf carts where they put the golf bags in the back.
Speaker Change: You said in your press release.
Speaker Change: Thank you.
Speaker Change: Thank you, operator.
Speaker Change: We're ready to take next question.
Olin Rice: I mean, this model that you have right now is a beautiful model is 4P all-forward placing seats, but it's not really golf compatible yet. The sport of golf and sport of football seem to have some sort of a relationship over here more so than most other. Sports, as you well know. So that was the basis of that question, actually. Yeah. Okay. If I understand your question, I mean the right now the agreement is around 4p card.
Speaker Change: The next question is from the line of Steve Miller with a private investor.
Kewa Luo: So,intheU.S, wedoworkwiththelarge,scalableretailsorchains.
Kewa Luo: However,inothercountries,liketheEuropeancountries,weactuallytendtoworkwiththedistributorsinstead.
Olin Rice: And any any NFL products that are obviously that are going to be worth it, are going to be worth it to be a load because of the relationship. So I'm not sure if that answer through questions only, but that's that's the that's our situation today. But is it something that you might have an interest in doing? So when we're presenting for those to maybe have that or would be just too difficult to rekey, it seems like, basically you're putting a wrap on an existing product that we already have.
Kewa Luo: Andsothat'sourplanfornow.
Kewa Luo: Thankyou.
Kewa Luo: Okay,thankyouverymuch.
Olin Rice: And putting a logo embroidered into the headrest and getting maybe a couple of thousand dollars more for the equivalent. It would just seem like it go hand in hand and you know whether I've been in the discussion yet, but if not, maybe it's something worthwhile discussing that doesn't require a response. I actually want to respond to it. I'll say this. We obviously are interested in expanding as successful the program dictates. So I think that everything could be on the table.
Unknown Attendee: IhaveaquickquestionforJohnny,ifwecould.
Unknown Attendee: HowmanyofthosestoresdoesheexpecttheNFLcartstobeinvolvedwith?
Olin Rice: But at this point, we're so early into the program. And I think we're going to we're going to play with the 4p and then I'm sure that there will be conversations that this is tremendously successful. Sure, as we just discovered, this is a three year deal, which makes it that much more exciting. I'm sure it does for you as well.
Unknown Attendee: Okay.
Johnny Tai: Hey,Fred.
Johnny Tai: Nicetomeetyou.
Johnny Tai: Thankyouforyourquestion.
Speaker Change: Please, we'll see with your questions. Today, that the United States is your primary market and that the increased freight shipping expense from China to service your expanding customer base was the reason for the biggest increase in your selling and distribution expense.
Unknown Speaker: Anyway, on the last conference call manager responded to a charting question, originally asked on the conference call in 2022, confirming it still had a high end goal of possibly achieving as much as a 500 million revenues for 2025. But I suspect that number of started would have gotten lower now, but still pretty aggressive number because of the economy in general, but that's a long way from 120 million or maybe 200 million, 210 million will do this year. Anyway, let's see. Well, I'm just looking at some notes I have over here.
Unknown Attendee: Andthat'smylastquestionis,inthisreporttoday,youmentionedthelowsteel,whichisquiteimportantforyouasacompany.
Speaker Change #100: Although I can guess this to the reasons for your recently announced partnership with Hartford Industries and Taiwan for manufacturing.
Unknown Attendee: MaybenowspecificallytotheUSmanagementteam,hastherebeenanydiscussionsaboutthesizeofthesteel?
Speaker Change #101: Why don't you have manufacturing facilities in your primary market, the United States.
Unknown Speaker: One other point I wanted to bring your attention. I guess you probably aware of this. But you know, they do, as I mentioned, actually have about 80 different variations of your golf carts on the lowest website. Of course, you're exclusive and lows. I'm talking about in general. But what's interesting is there are several hundreds of five star of the rating system, you know, on these golf carts. I know you're worried not, but you got an overall 4.5 plus rating.
Johnny Tai: So,forNFLrightnow,ourplanisonlyavailableonLowe's.com.
Johnny Tai: WedohavesomediscussionwithLowe'stoexpandtotheirstores.
Unknown Speaker: If you add in all those, all the various different candy provided products, which is pretty phenomenal speaks very highly to the, at least the thought that the customers that have been buying the vehicles through those. And that's a real feathered y'all cat. But anyway, go ahead and pass that on. But what's your question? OK, well, OK, well, basically, well, that really wasn't a question. I guess that was more of a more of a comment that I had here and only kind of asked the first part. Oh, let me see. I don't even have one or two more items here. It's kind of some prior things that were said.
Johnny Tai: However,Ithinktheyhavetolookattheir,youknow,spaceavailability.
Johnny Tai: Andweknowtheholidayseasoniscomingup.
Johnny Tai: So,they're,youknow,realestateisquitebusyrightnow.
Johnny Tai: But,youknow,rightnowit'savailableonLowe's.com.
Speaker Change #102: Especially as you contemplate spinning off candy America to be an independent publicly traded company.
Unknown Speaker: Yeah, one of the questions I had was, since candy is going to spin off candy Americans, especially separately, wouldn't it be wise to bring the CEO and perhaps on the call in the future? But y'all did that. So there you go. OK. Let's see.
Kewa Luo: Thankyou.
Speaker Change #103: Thank you.
Speaker Change #103: Today, the United States is our primary market.
Speaker Change #104: We want to ask about the importance of our primary market in the United States and then we'll let Kandi and the United States split up. The United States is our primary market.
Speaker Change #105: Why don't we take our socialization into the United States and take it into the United States and take it into Taiwan?
Kewa Luo: Okay,thankyou.
Speaker Change #105: This should be the case.
Unknown Speaker: Let me translate what you have said so far. Okay. You can see a lot of our products. And then there was a client who bought one. There was a 4.5 star product. He thought it was really good. And then he also mentioned that after Kandi America, I hope that the CEO of Kandi America will be able to discuss it with you on the phone. But I didn't think about it today. They have discussed it with everyone. That's all. Okay. Continue with your question. If you have any. Yeah. Okay.
Unknown Attendee: Soyouknow,howmany,howmanynewTVsorwhatsoever?
Kewa Luo: That'sall.
Speaker Change #106: Our United States is also in the primary market.
Speaker Change #107: But we don't know why we have to turn to Taiwan.
Speaker Change #108: We don't want to talk much about it now.
Speaker Change #108: So, we actually are considering our example of our production life in the future.
Speaker Change #108: It's a conflict in our plan.
Speaker Change #108: So, the collaboration with Taiwan is one of the strategies and we may not disclose too much about that.
Unknown Speaker: Just a couple of more light ones over here. This is a follow up on a question and somebody else asked over here. And never sure we got to get the right answer for it or the answer that was understandable. Had to do with the total valuation of all of Kandi's facilities if they had to be replicated. Well, I remember for a fact that Kandi built from scratch the Hanyam facility, which has the 100,000 capacity.
Speaker Change #108: I'm quite active understatement on social media, especially regarding candy.
Unknown Speaker: And that was, I believe, five or five years ago. And that was done for about 200 million by itself. Subsequent to that, I know they would have sold it. The old facility and built a brand new facility in Genoa. And I guess that's where they're making your offload products. So it would seem to me that the value of all those facilities, which if it had to be replicated today would certainly be an excess of 300 million, maybe a bigger number than that.
Speaker Change #109: And there seems to be a campaign against candy by detractors on a lot of internet chat boards claiming that candy is nothing more than a reseller of private labeling of its array of golf carts and various UTVs, ATVs, go carts, other off-road electric vehicles and even lithium batteries made by other manufacturers.
Unknown Speaker: Am I wrong? Do we have a million what? Okay. Originally, the original Hanyam facility was built for around 200 million dollars by Kandi. Four or five years ago. And the new facility we had in Genoa. And I guess there are two or four or five facilities in various cities or making vehicles where I believe they're making the cowboy. I don't know what that cost, but maybe another 100 million or so. So my comment was the question was asked about what the cost would be to rebuild that type of manufacturing capacity that we had.
Speaker Change #110: As long time candy followers are aware, this is a false narrative. But easy for detractors to say since candy does not have a high profile corporate website in English that showcases its in-house capabilities.
Speaker Change #110: Do you want to go ahead and translate that?
Speaker Change #111: But actually, this is a false narrative.
Speaker Change #111: They are very clear about candy.
Speaker Change #111: However, there is not much to do with candy.
Speaker Change #111: It's very busy.
Speaker Change #111: It's very easy to understand an English company website to demonstrate its in-house capabilities.
Speaker Change #111: So, this misunderstanding is very easy to happen.
Speaker Change #111: Okay, thank you.
Unknown Speaker: It would seem to me that number would be at least 300 million or higher. Am I wrong on that or what? [inaudible] It's very hard for us to tell at the moment because that involved too many parts like the supply chain, the scale, and the other factors, but then we will like to think of that step by step so that our planning and consideration. Thank you. So what you're not even willing to commit to the fact that the original cost of the facilities will not take all that other consideration?
Unknown Attendee: Andhowmanyyearsthisisgoingtobeinthemarket?
Kewa Luo: Thankyou.
Unknown Attendee: Thisdealthatcouldgiveaverygoodinsightforthefuturefiguresasaguide.
Arthur Porcari: Nextquestion,please.
Unknown Speaker: Well, I guess my question basically is, is it worth at least $300 million if you had to rebuild the whole thing again? Well, he said you can't confirm that if you spend $300 million in China, is it worth at least $300 million in China? [inaudible] So, in order to address your question again, you asked whether you would cost more than $1,000 for your country. Okay, very good.
Unknown Attendee: Thelastquestionis,attheopeningoftoday'sconference,youmentionedthecooperationwithLowe's.
Arthur Porcari: ThenextquestionisfromthelineofArthurPorcariwithCorporateStrategies.
Unknown Attendee: Canyouexplainalittlebitmoreaboutthedeadlineforthiscooperation?
Arthur Porcari: Pleaseproceedwithyourquestion.
Unknown Speaker: Okay, well, I guess last comment I have here more of a comment than anything else. I have to admit that in this business 51 years, never seen anything quite like this one where you have a company, where stock is trading well under over $1 share under cash in the stock market. It's gotten very little debt as a book value, it's trading $3 or whatever it is or more under book value. And you just landed probably the cherry project that virtually any golf cart in the world would be trying to get right now what you have with the NFL slash lows.
Speaker Change #112: So we all know, obviously, that Kandi stock is extremely undervalued, especially, even though it's a highly integrated major manufacturer.
Unknown Speaker: Plus you have a sponsor like Lowe's and you've got Walmart, you've got the campus world, you've got all these others and the stock is sitting down here. You've got to do something about getting the stock price up. I know even all of them is the second, I believe the second largest shareholder in the company now. And if I'm not mistaken, I think one year ago, he did a deal with $3.30 a share, you can't be too happy with that either.
Speaker Change #112: So, a few conference calls back.
Speaker Change #113: A question was asked as to what percentage of the cost of a typical Kandi vehicle for lack of a better term, such as a golf court, was actually manufactured by Kandi in its own multiple state-of-the-art facilities throughout whatever cities in China and now Taiwan.
Speaker Change #114: I believe at the time you said that a short management reply was somewhere around 90%, could you go ahead and translate[inaudible] Go ahead.
Speaker Change #114: Thank you.
Speaker Change #114: Now I've got three quick related questions.
Speaker Change #114: Was that 90% response accurate?
Speaker Change #114: And if so, can you briefly tell us for the record about each of Kandi's own various facilities?
Unknown Speaker: So we've got to do something and I think the only thing you can do in the United States is you've got to do something very definitive. And if normal circumstances are doing a deal with Lowe's would take any other stock up to $10 a share. We know this stock can actually do that because right after Candy America was brought on board to stock one up to $19 a share just based on that.
Speaker Change #114: Specifically, where they are located, what kind of products were made in each facility?
Speaker Change #114: And also, can you comment about the current percent of capacity being used in each facility and the maximum annual capacity available at each facility?
Speaker Change #114: Okay.
Unknown Speaker: And then they were doing $10 million in revenues. This year you're probably going to do $150 million in revenues. Just Candy America portion or more. And so that's just my final comment here. If anybody wants to comment on it, I appreciate it. But if not, you know, we should have a great third quarter now because I guess you haven't done no revenues have shown up yet because you're starting now in August from the lows. Of course, I mean, NFL program. So I would think we're going to have a great third quarter. And maybe I'm wrong if anybody wants to address that or not. Anyway, thank you.
Speaker Change #114: So, my first question is, I want to answer the 90% question.
Speaker Change #114: [inaudible] And then, their annual capacity, their largest annual capacity, and their capacity, and the current percent of the capacity being used in each facility in each facility.
Speaker Change #114: [inaudible] and also is located in the city center, and also is located in the city center, So, first of all, the Kandi's China-based mainly produces the gold cards and other spheres of the models.
Unknown Attendee: Canyouprovidesomespecificdata?
Unknown Speaker: Thank you for your remarks. Next, I would like to say that in his 51 years of experience, I've never seen a company like this in front of me. It's so high and beautiful and it's so low. I think the company has to do something to change the situation. I hope the third quarter has a better influence. Operators, that's all.
Speaker Change #115: Our gene card base mainly produces the UTV, ATVs, the beach cards, and other spheres of the models.
Unknown Attendee: Howisitgoing?
Arthur Porcari: Thankyou.
Unknown Attendee: IsitUTEorisitjusttobeabletoprovidemorespecificinformationaboutthecooperationwiththem?
Arthur Porcari: Well,I'mreallyhappytoseethatJohnnyandOwenareonboardhere.
Speaker Change #115: Our Jungtang base mainly produces the motor and electronic control products and the parts.
Speaker Change #116: There's our Jungtang base mainly produces the leaf re-batteries of better tech products.
Speaker Change #117: Overall, Kandi has an annual production capacity of more than 100,000 various types of vehicles and little parts.
Johnny Tai: WearegoingtohaveaCEOofKandiAmerica,Johnny,toansweryourquestion.
Arthur Porcari: Assomeonethat'sbeeninvolvedinCandysincetheverybeginning,Ialsohadthehonorofbeinginvitedtocomevisitbackin,Ithink,2020or21,whenevertheK23appeared,to,Iguess,bethefirstshareholderthateverhadachancetotestdriveit. AndIwasveryimpressedwiththetime,kindofdisappointeditneverhadachancetogo,butIcan'tblameyouguysforit.
Operator: Thank you. I'll turn the call back to management for any closing remarks. Thank you again for joining today's conference call. If you have any further questions, please don't hesitate to contact our IR consultant at Gary at BlueShirtGroup.co or you can contact us directly at IR at KandiGroup.com. 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. Thank you for your participation.
Speaker Change #117: Thank you.
Speaker Change #118: And by the way, you know, it's correct that our own manufacturing rate of the Kandi product does exceed 90 percent.
Johnny Tai: Butifyoucanbemorespecificaboutwhatyouliketoknow,andthatwillbe,thatwillbereallygood.
Arthur Porcari: ButIcangiveyouguysalotofcreditforwhat'shappenedsincethen.
Arthur Porcari: AndI'mreallyhappytoseeOwenhasjoinedyou,Johnny.
Unknown Attendee: Oh,yeah,ofcourse.
Arthur Porcari: He'saverycapablepartnerandsomebodytomarshalourassetsasinvestors.
Speaker Change #118: Thank you.
Speaker Change #118: How did curiosity come up if it's possible?
Speaker Change #119: If one wants to go into a total replacement of your facilities and equipment, do you have any estimate of what the total cost would be in US dollars that someone would need to invest to replicate all of your facilities and equipment?
Speaker Change #120: Hi, do you mean any one of facilities or all of the facilities we are going to replicate in the US?
Speaker Change #121: All of your facilities.
Unknown Attendee: Youknow,Imean,ifyou'resigningsuchadeal,Lowe's,aswellasKandi,youknow,theymusthavesomeideahowmanynewTVsofthiskindcouldbebroughttothemarketorsoldorbeingsold,youknow,becauseKandihastobepreparedproduction-wise,andLowe'shastobeprepared,youknow,distribution-wise.
Arthur Porcari: Anyway,letmegetbacktomyoriginalpiece.
Speaker Change #122: I'm just trying to get a sense of what it would take if some third party came in and wanted to do what Kandi is currently doing.
Speaker Change #122: What kind of cost would it be to them to replicate all of your current facilities and equipment without regard to where they're located?
Speaker Change #123: I said that it would be great if one third party came in and wanted to do what Kandi is to do in the US.
Unknown Attendee: SoIwouldthinkthattheremusthavebeensomediscussionsabouthowmanyUTVsofthesespecialNFL-licensedUTVscouldbesoldorthemarketiswillingtoaccept.
Arthur Porcari: Iwasn'texpectingyouhere,butlookforwardtomaybetakingthatshortdriveuptoDallasandvisity'allagainsoon.
Unknown Attendee: Okay.
Arthur Porcari: MaybemeetOwentooonetime.
Speaker Change #124: If we want to make all of our current facilities and equipment and equipment available in the US, we have to make sure that we have a large investment[inaudible] so it seems from the dramatic standpoint it's not quite feasible to replicate the whole of the facilities from China to the US.
Johnny Tai: Verygoodquestion,youknow,andIthinkI'mgoingtoanswerthatfirst,andthenIwillinvitemycolleague,youknow,Olin,toweighin,aswell.
Arthur Porcari: Okay.
Speaker Change #124: Although we are considering to have an exemplary part of the lines in the US in the future.
Speaker Change #124: Whereas the holder over a budget, it's hard for us to tell now and we have to look at our budget.
Speaker Change #124: Thank you.
Johnny Tai: Yes,wedohave,youknow,likeadiscussion,regularmeeting,youknow,withLowe'stodiscuss,youknow,whatthemarketlookslike,andweunderstandthemarketisquite,youknow,challengingrightnowwithalltheeconomic,youknow,climate,suchasinflation.
Arthur Porcari: Anyway,CandymusthaveanincrediblerelationshipwithLowe'sbasedonLowe'sseeminglyunendingsupportandtrustofCandy. AsidefromthefactLowe'spickedupCandytwoyearsagotolaunchtheirnewest,highestcostitemintheirsystem,onlyafewmonthsafterCandyfirstenteredtheU.S, golfcartarena.
Speaker Change #125: I'm not sure if I broke up or I just didn't understand that 90% number back from your previous answer in terms of what percent of a typical like a golf cart is actually made by Kandi versus products required from outside.
Arthur Porcari: However,initiallyitwasthroughmarketingveteranColeman,whoonlyhadonebrandedcartlinebackthen.
Speaker Change #126: Is 90% still an accurate percentage?
Speaker Change #126: It is.
Speaker Change #127: Yeah, it is.
Speaker Change #127: Okay.
Speaker Change #128: And then my last question is, you're trying to base website quite frankly seems to be outdated in that its images and videos are still heavy on evietos and trucks.
Speaker Change #128: What about updating that site and on all of your websites and this is related to my to the previous questions.
Speaker Change #129: Can you at least create a PowerPoint presentation on your state of the art manufacturing facilities and capacity.
Speaker Change #130: So people who have questions about candy and in terms of how much you're actually manufacturing versus how much you're obtaining from third parties and then putting on your label exists.
Speaker Change #130: I think that would be actually quite helpful and counteracts some of the claims out in social media and that's all I've got.
Speaker Change #130: Thank you.
Speaker Change #130: [inaudible] Thank you.
Speaker Change #130: Thank you.
Speaker Change #130: [inaudible] Thank you.
Speaker Change #130: Thank you.
Speaker Change #130: Please continue.
Speaker Change #131: Just since the last conference call, it appears from sources several new international outlets have been opening to include a very impressive, which we talked about, the Southeast Asia Thailand location, along with the Ruba Curacao Dominically Public in Dubai.
Speaker Change #132: And even now in the EU market, go ahead, Kewa, and then my questions.
Speaker Change #133: My question is outside of the US and Canada, how many international locations have been opened and are soon to be opened?
Speaker Change #134: In other words, a number or a close number.
Speaker Change #135: That's my first question.
Speaker Change #136: I just want to know, in addition to the US and Canada, how many international locations have been opened?
Speaker Change #136: I want to know the number of international locations.
Speaker Change #136: So apart from our US and Canada market, we are also exploring the European and Southeast Asia market.
Speaker Change #136: We are currently working in more than a dozen countries for the trials sales.
Speaker Change #136: Thank you.
Speaker Change #136: My second question.
Speaker Change #136: Have any multi-store chain been targeted for international growth?
Speaker Change #137: In other words, large stores change like Walmart and Loose.
Speaker Change #137: Thank you.
Speaker Change #138: You mean internationally, outside of the US?
Speaker Change #139: Multi-store chains, big chains, big companies, big stores.
Speaker Change #139: I know outside of the US.
Speaker Change #140: Yes, for international growth.
Speaker Change #141: My question is outside of the US and Canada market, like Loose, Walmart and Loose.
Speaker Change #141: In the international market, we are currently working in more than a decade.
Speaker Change #142: This is what I just said.
Speaker Change #143: This is the US and Canada market.
Speaker Change #143: There are a few big companies that we have never seen before.
Speaker Change #143: So, in US, we do what we've built the large scalable retail store chain.
Speaker Change #143: However, in other countries, like European countries, we actually tend to work with the distributors instead.
Speaker Change #143: And so, that's our plan for now.
Speaker Change #143: Thank you.
Speaker Change #143: Okay, thank you very much.
Speaker Change #144: I have a quick question for Johnny, if we could.
Speaker Change #145: How many stores does he expect the NFL carts to be involved with?
Speaker Change #146: So, I'd like to ask Johnny, I'd like to know how many stores will be involved in the sales.
Speaker Change #147: Okay, hey Fred, nice to meet you.
Speaker Change #148: Thank you for your question.
Speaker Change #149: So, for NFL right now, our plan is only available on loads.com.
Speaker Change #150: We do have some discussion with loads to expand to their stores.
Speaker Change #151: However, I think they have to look at their space availability.
Speaker Change #151: And we know the holiday season is coming up.
Speaker Change #151: So, they're in a real state.
Speaker Change #151: It's quite busy right now.
Speaker Change #151: But right now, it's available on loads.com.
Speaker Change #151: Thank you.
Speaker Change #151: Okay, thank you.
Speaker Change #151: That's all.
Speaker Change #151: Thank you.
Speaker Change #151: Next question, please.
Speaker Change #151: The next question is from the line of Arthur Prokary with corporate strategies.
Speaker Change #152: This is the other question.
Speaker Change #153: Thank you.
Speaker Change #153: Well, I'm really happy to see that Johnny and Owen are on board here.
Speaker Change #154: Someone who's been involved in Candies since the very beginning.
Speaker Change #155: I also had the honor of being invited to come visit.
Speaker Change #156: I think in 2021, whatever the K-23 appeared, I guess being the first shareholder would ever have a chance to test drive it.
Speaker Change #157: And I was very impressed with the time and kind of disappointing that never had a chance to go, but I can't blame you guys for it.
Speaker Change #158: But I can give you those lot of credit for what's happened since then.
Speaker Change #159: And I'm really happy to see Owen as joined you, Johnny.
Speaker Change #160: He's something a very capable partner and somebody to marshal our assets and investors.
Speaker Change #161: Anyway, let me get back to my original piece.
Speaker Change #162: I wasn't expecting you here, but look forward to maybe taking that short drive up to Dallas and visit you all again soon.
Speaker Change #163: Maybe you don't want to one time.
Speaker Change #163: Okay.
Speaker Change #164: Anyway, Candy happens to have an incredible relationship with loads based on loads seemingly unending support and trust of Candy. Aside from the fact loads picked up Candy two years ago to launch their newest highest cost item in their system.
Speaker Change #164: Only a few months after Candy first entered the U.S.
Speaker Change #164: Gulf of Carterina.
Speaker Change #165: However, initially it was the marketing veteran Coleman with only had one branded cart line back then.
Speaker Change #166: And less than a year, a loads this totally dump Coleman out of the picture went directly to Candy picked up Candy's own branded golf carts, the industry's youngest brand as their sole golf carts supplier.
Speaker Change #167: And exclusively now show more than 80 variations of Candy carts under web portal.
Speaker Change #167: Just check that the other day just to me.
Speaker Change #167: Go ahead and pass that on.
Speaker Change #167: In the past two years, we have experienced a lot of challenges.
Speaker Change #168: But Lofts chose Kandi in a few months.
Speaker Change #169: We went to Kandi before that.
Speaker Change #170: We had a deal with a deal with Kandi and Lofts.
Speaker Change #171: But in the past, we had a deal with Kandi and Lofts.
Speaker Change #171: [inaudible] Please go ahead.
Speaker Change #172: Okay, and again, appropriate to have Nolan on board for the rest of my questions here.
Speaker Change #173: In Management's opinion, why did Lowe's pick Kandi in this, Kandi's, well, you already said that, extends for the full remaining three years of the Lowe's NFL agreement.
Speaker Change #174: That part, I think you already agreed, it does.
Speaker Change #175: But your opinion, why did Lowe's pick Kandi in Olin probably the appropriate person to ask that question too?
Kandi's Olin: The question, I just want to ask Kandi's Olin, I just want to know why Lowe's pick Kandi in Olin.
Speaker Change #177: Thanks for the question.
Speaker Change #178: Obviously Lowe's like any of the major mass retailers has a very rigorous vetting process for vendor selection and product selection.
Speaker Change #179: And so over the course of that short, one to a time that you referred to, we'd become one of the key partners in the outdoor recreational space, particularly in the electric side of that space.
Speaker Change #180: And I think that a lot of that studio equality and the value proposition and the high level of trust that we've developed with that team.
Speaker Change #180: Okay, is Lowe's plan on including actual golf carts and her six passenger carts?
Speaker Change #181: I asked that question after recently visiting a Galveston each car rental business and a golf course who would be happy open cases to buy a fleet of NFL carts, even if they had a buyer from Lowe's to put them in the rental pool.
Speaker Change #182: My second question is whether Lowe's plan would be a high-speed car or a six-speed car.
Speaker Change #182: Yes, so I can answer this as well.
Speaker Change #183: We are currently a supplier to Lowe's six passenger carts in a limited store count of a couple hundred doors. We also have a very robust business with them online for that product, along with a number of other categories that perform well online.
Speaker Change #184: And as far as future Lowe's commitments to product offering, particularly on the floor, that's something that I wouldn't want to comment on because that kind of always evolving process for these major retailers as they look at their real estate they have available and what products make sense on their floor.
Speaker Change #184: Well, that wasn't quite my question.
Speaker Change #184: My question was specifically had to do with the NFL.
Speaker Change #185: Again, you can imagine a Galveston car rental car rental company over there would love to have some, I hate to say it cowboys too, but Texans carts to go ahead and red people go up and down the sea wall.
Speaker Change #186: And as far as the golf car of course is concerned, they think it'd be quite interesting to have actual golf carts where they put the golf bags in the back.
Speaker Change #187: I mean, this model that you have right now is a beautiful model is 4P all-forward placing seats, but it's not really golf compatible yet.
Speaker Change #187: The sport of golf and sport of football seem to have some sort of a relationship over here more so than most other.
Speaker Change #187: Sports, as you well know.
Speaker Change #187: So that was the basis of that question, actually.
Speaker Change #187: Yeah.
Speaker Change #187: Okay.
Speaker Change #187: If I understand your question, I mean the right now the agreement is around 4p card.
Speaker Change #187: And any any NFL products that are obviously that are going to be worth it, are going to be worth it to be a load because of the relationship.
Speaker Change #187: So I'm not sure if that answer through questions only, but that's that's the that's our situation today.
Speaker Change #187: But is it something that you might have an interest in doing?
Speaker Change #188: So when we're presenting for those to maybe have that or would be just too difficult to rekey, it seems like, basically you're putting a wrap on an existing product that we already have.
Speaker Change #188: And putting a logo embroidered into the headrest and getting maybe a couple of thousand dollars more for the equivalent.
Speaker Change #188: It would just seem like it go hand in hand and you know whether I've been in the discussion yet, but if not, maybe it's something worthwhile discussing that doesn't require a response.
Speaker Change #188: I actually want to respond to it.
Speaker Change #188: I'll say this.
Speaker Change #188: We obviously are interested in expanding as successful the program dictates.
Speaker Change #188: So I think that everything could be on the table.
Speaker Change #189: But at this point, we're so early into the program.
Speaker Change #189: And I think we're going to we're going to play with the 4p and then I'm sure that there will be conversations that this is tremendously successful.
Speaker Change #189: Sure, as we just discovered, this is a three year deal, which makes it that much more exciting.
Speaker Change #189: I'm sure it does for you as well.
Speaker Change #189: Anyway, on the last conference call manager responded to a charting question, originally asked on the conference call in 2022, confirming it still had a high end goal of possibly achieving as much as a 500 million revenues for 2025.
Speaker Change #190: But I suspect that number of started would have gotten lower now, but still pretty aggressive number because of the economy in general, but that's a long way from 120 million or maybe 200 million, 210 million will do this year.
Speaker Change #190: Anyway, let's see.
Speaker Change #190: Well, I'm just looking at some notes I have over here.
Speaker Change #190: One other point I wanted to bring your attention.
Speaker Change #190: I guess you probably aware of this.
Speaker Change #191: But you know, they do, as I mentioned, actually have about 80 different variations of your golf carts on the lowest website.
Speaker Change #191: Of course, you're exclusive and lows.
Speaker Change #191: I'm talking about in general.
Speaker Change #191: But what's interesting is there are several hundreds of five star of the rating system, you know, on these golf carts.
Speaker Change #192: I know you're worried not, but you got an overall 4.5 plus rating.
Speaker Change #192: If you add in all those, all the various different candy provided products, which is pretty phenomenal speaks very highly to the, at least the thought that the customers that have been buying the vehicles through those.
Speaker Change #192: And that's a real feathered y'all cat.
Speaker Change #192: But anyway, go ahead and pass that on.
Speaker Change #192: But what's your question?
Speaker Change #192: OK, well, OK, well, basically, well, that really wasn't a question.
Speaker Change #193: I guess that was more of a more of a comment that I had here and only kind of asked the first part.
Speaker Change #193: Oh, let me see.
Speaker Change #193: I don't even have one or two more items here.
Speaker Change #194: It's kind of some prior things that were said.
Speaker Change #195: Yeah, one of the questions I had was, since candy is going to spin off candy Americans, especially separately, wouldn't it be wise to bring the CEO and perhaps on the call in the future?
Speaker Change #196: But y'all did that.
Speaker Change #196: So there you go.
Speaker Change #196: OK.
Speaker Change #196: Let's see.
Speaker Change #197: Let me translate what you have said so far.
Speaker Change #197: Okay.
Speaker Change #197: You can see a lot of our products.
Speaker Change #197: And then there was a client who bought one.
Speaker Change #197: There was a 4.5 star product. He thought it was really good.
Speaker Change #198: And then he also mentioned that after Kandi America, I hope that the CEO of Kandi America will be able to discuss it with you on the phone.
Speaker Change #198: But I didn't think about it today.
Speaker Change #199: They have discussed it with everyone.
Speaker Change #199: That's all.
Speaker Change #199: Okay.
Speaker Change #199: Continue with your question.
Speaker Change #199: If you have any.
Speaker Change #199: Yeah.
Speaker Change #199: Okay.
Speaker Change #200: Just a couple of more light ones over here.
Speaker Change #201: This is a follow up on a question and somebody else asked over here.
Speaker Change #201: And never sure we got to get the right answer for it or the answer that was understandable.
Speaker Change #202: Had to do with the total valuation of all of Kandi's facilities if they had to be replicated.
Speaker Change #203: Well, I remember for a fact that Kandi built from scratch the Hanyam facility, which has the 100,000 capacity.
Speaker Change #203: And that was, I believe, five or five years ago.
Speaker Change #203: And that was done for about 200 million by itself.
Speaker Change #203: Subsequent to that, I know they would have sold it.
Speaker Change #203: The old facility and built a brand new facility in Genoa.
Speaker Change #203: And I guess that's where they're making your offload products.
Speaker Change #203: So it would seem to me that the value of all those facilities, which if it had to be replicated today would certainly be an excess of 300 million, maybe a bigger number than that.
Speaker Change #203: Am I wrong?
Speaker Change #204: Do we have a million what?
Speaker Change #204: Okay.
Speaker Change #205: Originally, the original Hanyam facility was built for around 200 million dollars by Kandi.
Speaker Change #206: Four or five years ago.
Speaker Change #207: And the new facility we had in Genoa.
Speaker Change #208: And I guess there are two or four or five facilities in various cities or making vehicles where I believe they're making the cowboy.
Speaker Change #208: I don't know what that cost, but maybe another 100 million or so.
Speaker Change #208: So my comment was the question was asked about what the cost would be to rebuild that type of manufacturing capacity that we had.
Speaker Change #209: It would seem to me that number would be at least 300 million or higher.
Speaker Change #209: Am I wrong on that or what?
Speaker Change #210: [inaudible] It's very hard for us to tell at the moment because that involved too many parts like the supply chain, the scale, and the other factors, but then we will like to think of that step by step so that our planning and consideration.
Speaker Change #210: Thank you.
Speaker Change #211: So what you're not even willing to commit to the fact that the original cost of the facilities will not take all that other consideration?
Speaker Change #212: Well, I guess my question basically is, is it worth at least $300 million if you had to rebuild the whole thing again?
Speaker Change #213: Well, he said you can't confirm that if you spend $300 million in China, is it worth at least $300 million in China?
Speaker Change #213: [inaudible] So, in order to address your question again, you asked whether you would cost more than $1,000 for your country.
Speaker Change #213: Okay, very good.
Speaker Change #213: Okay, well, I guess last comment I have here more of a comment than anything else.
Speaker Change #214: I have to admit that in this business 51 years, never seen anything quite like this one where you have a company, where stock is trading well under over $1 share under cash in the stock market.
Speaker Change #214: It's gotten very little debt as a book value, it's trading $3 or whatever it is or more under book value.
Speaker Change #214: And you just landed probably the cherry project that virtually any golf cart in the world would be trying to get right now what you have with the NFL slash lows.
Speaker Change #215: Plus you have a sponsor like Lowe's and you've got Walmart, you've got the campus world, you've got all these others and the stock is sitting down here.
Speaker Change #215: You've got to do something about getting the stock price up.
Speaker Change #216: I know even all of them is the second, I believe the second largest shareholder in the company now.
Speaker Change #217: And if I'm not mistaken, I think one year ago, he did a deal with $3.30 a share, you can't be too happy with that either.
Speaker Change #217: So we've got to do something and I think the only thing you can do in the United States is you've got to do something very definitive.
Speaker Change #217: And if normal circumstances are doing a deal with Lowe's would take any other stock up to $10 a share.
Speaker Change #218: We know this stock can actually do that because right after Candy America was brought on board to stock one up to $19 a share just based on that.
Speaker Change #218: And then they were doing $10 million in revenues.
Speaker Change #218: This year you're probably going to do $150 million in revenues.
Speaker Change #219: Just Candy America portion or more.
Speaker Change #219: And so that's just my final comment here.
Speaker Change #219: If anybody wants to comment on it, I appreciate it.
Speaker Change #220: But if not, you know, we should have a great third quarter now because I guess you haven't done no revenues have shown up yet because you're starting now in August from the lows.
Speaker Change #220: Of course, I mean, NFL program.
Speaker Change #221: So I would think we're going to have a great third quarter.
Speaker Change #222: And maybe I'm wrong if anybody wants to address that or not.
Speaker Change #222: Anyway, thank you.
Speaker Change #222: Thank you for your remarks.
Speaker Change #223: Next, I would like to say that in his 51 years of experience, I've never seen a company like this in front of me.
Speaker Change #223: It's so high and beautiful and it's so low.
Speaker Change #223: I think the company has to do something to change the situation.
Speaker Change #223: I hope the third quarter has a better influence.
Speaker Change #224: Operators, that's all.
Speaker Change #224: Thank you.
Speaker Change #225: I'll turn the call back to management for any closing remarks.
Speaker Change #225: Thank you again for joining today's conference call.
Speaker Change #226: If you have any further questions, please don't hesitate to contact our IR consultant at Gary at BlueShirtGroup.co or you can contact us directly at IR at KandiGroup.com.
Speaker Change #227: We look forward to updating you on our next earnings call.
Speaker Change #227: This concludes our call for today.
Speaker Change #227: Thank you very much.
Speaker Change #228: You may now all disconnect.
Speaker Change #229: Thank you for your participation.