Kandi Electric Vehicles Group, the manufacturing subsidiary of Kandi, received a national subsidy for selling more than 3,000 electric vehicles from June 2013 to Dec. 2013, and more than 1,000 EVs in the first quarter of 2014. The subsidy includes payment for the 2013 year-end subsidy and advance subsidy payment for the first quarter of 2014.
The city of Hangzhou, where Kandi first launched its short-term EV rental program, is expected to announce a local subsidy policy for new energy vehicles soon, according to the company.
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TheStreet Ratings team rates KANDI TECHNOLOGIES GROUP as a Hold with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate KANDI TECHNOLOGIES GROUP (KNDI) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."