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KANDI TECHNOLOGIES GROUP, INC.

(KNDI)
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KANDI TECHNOLOGIES GROUP, INC. : Changes in Registrant's Certifying Accountant, Financial Statements and Exhibits (form 8-K)

10/15/2021 | 04:08pm EST

ITEM 4.01 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.

On October 11, 2021, Kandi Technologies Group, Inc., a corporation incorporated under the laws of the State of Delaware (the "Company") elected not to continue the engagement of Marcum Bernstein & Pinchuk LLP ("MBP") serving as the Company's independent registered public accounting firm. The termination of the engagement of MBP was approved by the Company's audit committee.

The reports of MBP on the financial statements of the Company as of and for the fiscal years ended December 31, 2020 and 2019 did not contain any adverse opinion or disclaimer of opinion and was not qualified or modified as to uncertainty, audit scope or accounting principles.

During the Company's two most recent fiscal years and the subsequent interim period through October 11, 2021, there were no disagreements with MBP on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement(s), if not resolved to the satisfaction of MBP, would have caused it to make reference to the subject matter of the disagreement(s) in connection with its report. During the Company's two most recent fiscal years and the subsequent interim period through October 11, 2021, there were no reportable events of the type described in Item 304(a)(1)(v) of Regulation S-K.

The Company provided MBP with a copy of the foregoing disclosure and requested MBP to furnish the Company with a letter addressed to the Securities and Exchange Commission stating whether it agrees with the statements made therein. A copy of such letter furnished by MBP is filed as Exhibit 16.1 to this Form 8-K.

On October 11, 2021, the Company's audit committee approved the engagement of Benjamin & Ko ("Benjamin") as the Company's new independent registered public accounting firm.

During the Company's two most recent fiscal years and the subsequent interim period through October 11, 2021, neither the Company nor anyone on its behalf consulted with Benjamin regarding (i) the application of accounting principles to a specified transaction, either completed or proposed; the type of audit opinion that might be rendered on the Company's financial statements, and neither a written report nor oral advice was provided that Benjamin concluded was an important factor considered by the Company in reaching a decision as to the accounting, auditing or financial reporting issue; or (ii) any matter that was either the subject of a disagreement (as defined in Item 304(a)(1)(iv) of Regulation S-K and its related instructions) or a reportable event (as described in Item 304(a)(1)(v) of Regulation S-K).

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.





(d) Exhibits.



Exhibit No.   Description
16.1            Letter from Marcum Bernstein & Pinchuk LLP dated October 15, 2021




                                       1

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 121 M - -
Net income 2021 -5,70 M - -
Net Debt 2021 - - -
P/E ratio 2021 -49,4x
Yield 2021 -
Capitalization 306 M 306 M -
Capi. / Sales 2021 2,53x
EV / Sales 2022
Nbr of Employees 638
Free-Float 80,9%
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Number of Analysts 0
Last Close Price 3,95 $
Average target price 12,00 $
Spread / Average Target 204%
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Managers and Directors
Xiao Ming Hu Chairman, President & Chief Executive Officer
Jehn Ming Lim Chief Financial Officer
Jerry B. Lewin Independent Director
Henry Yu Independent Director
Li Ming Chen Independent Director
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