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    Michael Pfeffer • Analyst

    Michael D. Pfeffer is a Senior Valuation Analyst specializing in business appraisal, merger and acquisition advisory, and financial analysis, with more than 30 years of experience. He has evaluated over three hundred businesses, particularly for public accounting firms, and brings a strong performance track record in maximizing business value and marketability. Pfeffer began his career after graduating from the University of Iowa and held multiple management positions for national and international companies before earning his MBA in Finance and transitioning into business valuation in the early 2000s. He holds credentials as a Certified Business Appraiser (CBA) and Certified Merger & Acquisition Professional (CM&AP), and has previously held designations such as Certified Exit Planning Advisor (CEPA) and Certified Machinery & Equipment Appraiser (CMEA).

    Michael Pfeffer's questions to Kandi Technologies Group Inc (KNDI) leadership

    Michael Pfeffer's questions to Kandi Technologies Group Inc (KNDI) leadership • Q3 2024

    Question

    Michael Pfeffer questioned the company's decision to release a 5-year forecast without providing near-term guidance for 2024 and Q1 2025, suggesting this creates suspicion about the long-term plan's credibility. He also asked if the company would begin providing unit delivery guidance for its off-road vehicles.

    Answer

    CEO Feng Chen explained that the 2025-2029 growth plan was based on careful internal research and demonstrates management's confidence. He stated that more granular guidance for Q1 2025, the full year, and unit sales data would be disclosed "in due course" as the company assesses its development.

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    Michael Pfeffer's questions to Kandi Technologies Group Inc (KNDI) leadership • Q1 2024

    Question

    Michael Pfeffer questioned management on perceived discrepancies in communications, seeking clarification on a press release statement about expanding to 'more than 10 supercenters' with Lowe's and a prior call's mention of 'child sales,' which was later clarified as 'trial sales.'

    Answer

    CEO Xueqin Dong and Chairman Xiaoming Hu clarified that Kandi does not have access to all 2,500 Lowe's stores, but is currently in about 500, with plans to expand to over 1,000 by year-end. Executive Ming Jehn corrected a previous transcript error, stating the term used was 'trial sales,' not 'child sales,' referring to initial sales programs with new retail partners.

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