UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 7, 2019
KANDI
TECHNOLOGIES GROUP, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-33997 | 90-0363723 | ||
| (State of Incorporation) | (Commission File Number) | (IRS Employer Identification) |
Jinhua City Industrial Zone
Jinhua, Zhejiang Province
People’s Republic of China
Post Code 321016
(Address of principal executive offices)
(86-579) 8223-9700
Registrant’s telephone number, including area code
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ | Soliciting material pursuant to Rule 1 4a- 12 under the Exchange Act (17 CFR 240.1 4a- 12) |
| ☐ | Pre-commencement communications pursuant to Rule 1 4d-2(b) under the Exchange Act (17 CFR 240.1 4d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 1 3e-4(c) under the Exchange Act (17 CFR 240.1 3e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
| Common Stock | KNDI | NASDAQ |
Item 4.01. Changes in Registrant’s Certifying Accountant.
On October 7, 2019, Kandi Technologies Group, Inc., a corporation incorporated under the laws of the State of Delaware (the “Company”) and BDO China Shu Lun Pan Certified Public Accountants LLP (“BDO China”) mutually elected not to continue the engagement of BDO China serving as the Company’s independent registered public accounting firm. The termination of the engagement of BDO China was approved by the Company’s audit committee.
The principal accountant’s reports of BDO China on the financial statements of the Company as of and for the fiscal years ended December 31, 2018 and 2017 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 7, 2019, there were no disagreements with BDO China 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 BDO China, 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 7, 2019, there were no reportable events of the type described in Item 304(a)(1)(v) of Regulation S-K.
The Company provided BDO China with a copy of the foregoing disclosure and requested BDO China 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 BDO China is filed as Exhibit 16.1 to this Form 8-K.
On October 7, 2019, the Company’s audit committee approved the engagement of Marcum Bernstein & Pinchuk LLP (“MBP”) 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 7, 2019, neither the Company nor anyone on its behalf consulted with MBP 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 MBP 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 BDO China Shu Lun Pan Certified Public Accountants LLP dated October 8, 2019 |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| KANDI TECHNOLOGIES GROUP, INC. | ||
| Date: October 11, 2019 | By: | /s/ Hu Xiaoming |
| Name: | Hu Xiaoming | |
| Title: | Chief Executive Officer | |
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Exhibit 16.1
October 8, 2019
Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 20549
We have read the statements made by Kandi Technologies Group, Inc. (the “Company”) in Item 4.01 of the Company’s Current Report on Form 8-K dated October 7, 2019 and agree with the statements made regarding our firm. We have no basis to agree or disagree with other statements of the Company made under Item 4.01 therein.
/s/ BDO China Shu Lun Pan Certified Public Accountants LLP
BDO China Shu Lun Pan Certified Public Accountants LLP
Shanghai, The People’s Republic of China