Kandi Technologies Group Inc (KNDI) 2024 Q4 法說會逐字稿

Greetings and welcome to the Kandi Technologies full-year 2024 financial results call. (Operator Instructions)

大家好，歡迎參加康迪科技 2024 年全年財務業績電話會議。（操作員指示）

As a reminder of this conference is being recorded. I would now like to turn the conference over to your host, Ms. Kewa Luo, Investor Relations Manager. Thank you, you may begin.

謹以此提醒您，本次會議正在錄製中。現在，我想將會議交給主持人、投資者關係經理 Kewa Luo 女士。謝謝，你可以開始了。

Thank you, operator. Hello everyone. Thank you all for joining us on today's conference call to discuss Kandi's results for the full year 2024. Earlier today we issued a press release covering the results. You can find the press release on the company's website as well as from newswire services.

謝謝您，接線生。大家好。感謝大家參加今天的電話會議，討論康迪 2024 年全年業績。今天早些時候，我們發布了一份新聞稿，介紹該結果。您可以在該公司的網站以及新聞通訊社上找到該新聞稿。

Please note that today's discussion will contain forward-looking statements made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involved inherent risks and uncertainties. As such, the company's actual results may be materially different from the expectations expressed today.

請注意，今天的討論將包含根據 1995 年美國私人證券訴訟改革法案的安全港條款做出的前瞻性陳述。前瞻性陳述涉及固有風險和不確定性。因此，該公司的實際業績可能與今天表達的預期有重大差異。

Further 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 statement, except as required under applicable law. Additionally, unless otherwise stated, all figures mentioned during the conference call are in US dollars.

有關這些和其他風險和不確定性的更多資訊包含在公司向美國證券交易委員會提交的公開文件中。除適用法律要求外，本公司不承擔更新任何前瞻性聲明的義務。此外，除非另有說明，電話會議中提到的所有數字均以美元為單位。

Before we continue, I would like to introduce the team joining me on today's call. Joining us are Mr. Feng Chen, CEO; and Mr. Alan Lim, CFO. Mr. Chen will deliver his prepared remarks in Chinese, which I will translate afterward. With that, let me now turn the call over to our CEO, Mr. Feng Chen. Go ahead, Mr. Chen.

在我們繼續之前，我想介紹一下今天參加電話會議的團隊。與我們一起的還有執行長陳鋒先生和財務長 Alan Lim 先生。陳先生將用中文發表他的準備好的講話，隨後我將翻譯。現在，我將把電話轉給我們的執行長陳峰先生。請說，陳先生。

(spoken in Chinese)

（用中文說）

(interpreted) Good day and thank you for joining us. Over the past year, we not only strengthened our leadership in the electric off-road sector, but also enhanced our manufacturing capabilities and expanded our market reach, laying a solid foundation for the strategic progress we achieved in 2024. I am proud of the resilience and innovation demonstrated across the organization from our Board's strategic guidance to our team's daily execution. And I appreciate the continued engagement of our investors.

（翻譯）您好，感謝您加入我們。過去的一年，我們不僅鞏固了在電動越野領域的領先地位，也提升了製造能力，擴大了市場覆蓋範圍，為2024年的戰略進展奠定了堅實的基礎。我為整個組織所展現的韌性和創新精神感到自豪，從董事會的策略指導到團隊的日常執行。我感謝我們的投資者的持續參與。

(spoken in Chinese)

（用中文說）

(interpreted) In 2024, we delivered modest, yet meaningful revenue growth driven by steady demand for our electric off-road vehicles and the ongoing optimization of our geographic footprint. While our revenue grew steadily, we continue to invest in the future, strengthening our overall product portfolio, advancing next generation battery technology, and reinforcing our balance sheet. This disciplined approach enabled us to preserve profitability and maintain a robust cash position as we navigate it involving market dynamics.

(解釋) 2024 年，由於市場對我們的電動越野車的穩定需求以及我們地理覆蓋範圍的持續優化，我們實現了適度但有意義的收入增長。在收入穩定成長的同時，我們繼續投資未來，加強我們的整體產品組合，推動下一代電池技術，並增強我們的資產負債表。這種嚴謹的方法使我們能夠在應對市場動態時保持獲利能力並維持強勁的現金狀況。

(spoken in Chinese)

（用中文說）

(interpreted) Our core electric off-road segment remains the engine of Kandi's business. Last year, we introduced several new models tailored to North Americans preferences, including the innovator e10K utility vehicle, a new lineup of electric go carts built for everyone from entry-level riders to seasoned off-road enthusiasts. As well as our limited edition, NFL golf carts. Meanwhile, Kandi made a strong presence at multiple golf cart expos and industry summits, earning widespread price from dealers and attendees.

(翻譯) 我們的核心電動越野車部門仍然是康迪業務的引擎。去年，我們推出了幾款針對北美人喜好的新車型，包括創新 e10K 多功能車，這是一款專為從入門級騎士到經驗豐富的越野愛好者的所有人打造的全新電動卡丁車系列。以及我們的限量版 NFL 高爾夫球車。同時，康迪在多場高爾夫球車博覽會和行業峰會上表現出色，贏得了經銷商和與會者的廣泛好評。

(spoken in Chinese)

（用中文說）

(interpreted) Behind the scene, we are enhancing our operational resilience through targeted upgrades to our Taiwan manufacturing footprint. These improvements have increased our flexibility and responsiveness, enabling us to better align production with shifting customer demand while maintaining high standards of quality and efficiency.

（翻譯）在幕後，我們正在透過有針對性地升級我們在台灣的製造足跡來增強我們的營運彈性。這些改進提高了我們的靈活性和回應能力，使我們能夠更好地根據不斷變化的客戶需求調整生產，同時保持高品質和高效率的標準。

(spoken in Chinese)

（用中文說）

To ensure we deliver on our ambitions plans, we recently implemented a management incentive program that aligns leadership rewards directly with key performance metrics. This initiative is already motivating our senior team to push harder on sales growth, operational excellence, and new product development, ultimately driving improved results across the company.

為了確保我們實現雄心勃勃的計劃，我們最近實施了一項管理激勵計劃，將領導獎勵與關鍵績效指標直接掛鉤。這項舉措激勵我們的高階團隊更加努力地推動銷售成長、卓越營運和新產品開發，最終推動整個公司的業績改善。

(spoken in Chinese)

（用中文說）

(interpreted) Looking ahead, our priorities are clear. We will bring forward innovative battery and vehicle solutions, expand our dealer network, deepen strategic partnerships, and execute our US localization roadmap, highlighted by our recent partnership with CBAK Energy to localize lithium cell and pack production in the United States. By aligning production closer to end markets and leveraging clean energy incentives, we are positioning candy for sustainable long-term growth.

（翻譯）展望未來，我們的優先事項很明確。我們將推出創新的電池和車輛解決方案，擴大我們的經銷商網絡，深化戰略合作夥伴關係，並執行我們的美國本地化路線圖，其中最突出的是最近與 CBAK Energy 合作在美國本地化鋰電池和電池組生產。透過使生產更貼近終端市場並利用清潔能源激勵措施，我們正在為糖果的可持續長期成長做好準備。

(spoken in Chinese)

（用中文說）

(interpreted) In closing, I'm confident that the steps we have taken in 2024 have strengthened Kandi's platform and prepared us to seize new opportunities. I want to thank our employees, partners, and shareholders for their trust and collaboration.

（翻譯）最後，我相信我們在 2024 年採取的措施加強了康迪的平台，並讓我們做好了抓住新機會的準備。我要感謝我們的員工、合作夥伴和股東的信任和合作。

Thank you, Mr. Chen. And thank you everyone for joining today's conference call. As noted earlier, there will be no live to a session for today's call. You have any questions following today's presentation, please email us at ir@kandigroup.com or gary@blueshirtgroup.co. We will respond to all inquiries within the next five business days.

謝謝陳先生。感謝大家參加今天的電話會議。如前所述，今天的電話會議將不會進行直播。如果您在今天的演講後有任何疑問，請發送電子郵件至 ir@kandigroup.com 或 gary@blueshirtgroup.co。我們將在接下來的五個工作天內回覆所有諮詢。

Please note that our responses will be limited to the information that has been publicly disclosed and will comply with the applicable SCC regulations. This concludes our conference call. Thank you and have a good day.

請注意，我們的回覆將僅限於已公開披露的信息，並將遵守適用的 SCC 法規。我們的電話會議到此結束。謝謝您，祝您有美好的一天。

Thank you ladies and gentlemen. This concludes the conference call today. You may disconnect your lines. Thank you for your participation.

謝謝各位女士、先生們。今天的電話會議到此結束。您可以斷開線路。感謝您的參與。

Portions of this transcript that are marked (interpreted) were spoken by an interpreter present on the live call. The interpreter was provided by the company sponsoring this event.

本記錄中標記（翻譯）的部分是由現場通話中的翻譯人員說的。翻譯由贊助此活動的公司提供。