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Kandi Technologies Announces Change of Independent Accounting Firm to BDO China

JINHUA, China, April 13, 2016 (GLOBE NEWSWIRE) -- Kandi Technologies Group, Inc. (the “Company” or “Kandi”) (NASDAQ:KNDI), is pleased to announce the appointment of BDO China Shu Lun Pan Certified Public Accountants LLP (“BDO China”) as the Company’s new independent registered public accounting firm effective April 12, 2016. The appointment of BDO China was approved by the Company’s audit committee.

“We would like to thank AWC (CPA) Limited for their diligent contribution as our auditor in the past. We look forward to working with BDO China. We believe that BDO China’s experience and support will become an asset as we enter our next phase of business expansion,” said Chairman and Chief Executive Officer Mr. Hu Xiaoming.

For more information regarding the Company’s change in auditing firm, please refer to the Company’s Form 8-K to be filed with the Securities and Exchange Commission.

About BDO China Shu Lun Pan Certified Public Accountants LLP

BDO China Shu Lun Pan Certified Public Accountants LLP CPAs (hereinafter referred to as " BDO China") is one of the leading accounting firms. BDO China was founded in 1927 and currently has over 6,000 employees, including more than 1,600 certified public accountants, which is one of the earliest and most influential accounting firms in China. The companies BDO China provides services to cover a wide range of sizes and industries including large national enterprises, state-owned companies, commercial banks, securities companies, futures brokerage, insurance, trusts and funds.

About Kandi Technologies Group, Inc.

Kandi Technologies Group, Inc. (NASDAQ:KNDI), headquartered in Jinhua, Zhejiang Province, is engaged in the research and development, manufacturing and sales of various vehicle products. Kandi has established itself as one of China's leading manufacturers of pure electric vehicle ("EV") products (through its joint venture), EV parts and off-road vehicles. More information can be viewed at the Company's corporate website at http://www.kandivehicle.com. The Company routinely posts important information on its website.

Safe Harbor Statement

This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

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Company Contact: Ms. Kewa Luo Kandi Technologies Group, Inc. Phone: 212-551-3610 Email: IR@kandigroup.com

Source:Kandi Technologies Group, Inc.