Jinhua, China- Kandi Technology Group (the 'Company' or 'Kangdi') (Nasdaq: KNDI) announced today that its Board of Directors has authorized management to repurchase up to More than $30 million of the company's common stock . Progress on the plan will be disclosed in each quarter's earnings report (10Q or 10K).

Mr. Hu Xiaoming, Chairman of Kandi Group, said: 'We believe that Kandi's stock price is currently significantly undervalued. The main reason for this is that investors do not fully understand our exciting growth prospects in advancing our pure electric off-highway vehicle business . To It is in the interests of our shareholders that we believe it is necessary to take action to repurchase our shares. This demonstrates confidence in our liquidity and business potential, and our commitment to creating value for our shareholders.'

Kandi may, from time to time, repurchase shares of its common stock in the open market or in privately negotiated transactions in accordance with Rule 10b-5, Rule 10b5-1, Rule 10b-18 and other applicable legal requirements of the SEC. The SEC . timing and actual number of shares repurchased will depend on a variety of factors, including regulatory restrictions on price, method, timing and quantity, corporate and other regulatory requirements and other market conditions to minimize the impact of purchases on the market. The plan does not require the acquisition of any specific number of shares of Kandi's common stock, and these purchases may be commenced or suspended at any time without notice based on market conditions and other factors.

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