Mark Cano's questions to Kandi Technologies Group (KNDI) leadership • Q2 2024
Question
Questioned the company's capital allocation strategy given the stock's significant discount to book value, plans for the Kandi America spinoff, the strategic rationale for the manufacturing agreement with Hartford in Taiwan, and the expected scale of the new NFL-licensed golf cart deal with Lowe's.
Answer
Management acknowledged the stock is undervalued and is increasing marketing efforts. They are considering a dual listing for Kandi America but are limited by SEC regulations on what they can disclose. The Taiwan partnership is a strategic move to enhance the supply chain and market competitiveness. The Lowe's NFL deal is for golf carts, not UTVs, under a 3-year plan, with sales volume under ongoing discussion with Lowe's; expectations are high but no specific numbers were provided.