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Jun 30, 2025
Kandi Q2 2025 Earnings Report
Kandi reported Q2 2025 results with lower revenue but significantly improved gross margin and positive net income.
Key Takeaways
Kandi delivered a profitable second quarter despite a 39% drop in revenue, thanks to strategic cost management, product mix improvements, and expansion into new tech verticals.
Forward Guidance
Kandi plans to leverage strong cash reserves to expand R&D and pursue high-growth tech segments while enhancing operational efficiency.
Positive Outlook
- Gross margin increased to 45.2%
- Positive net income despite revenue decline
- Cash and deposits reached $256.7M
- Strategic entry into embodied intelligence market
- Secured battery swap infrastructure contract under CATL’s plan
Challenges Ahead
- Revenue fell 39.3% YoY
- Sales of EV and off-road vehicles declined
- Operating loss of $1.9M
- Marketing expenses declined, reflecting weaker sales activity
- No specific earnings guidance provided for future quarters
Historical Earnings Impact
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Avg. Return Before/After Earnings
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