Kandi Technologies Group, Inc. ("Kandi" or the "Company") (NASDAQ GS: KNDI), a global innovator in intelligent equipment and a technology-driven platform company, today announced that its wholly-owned subsidiary, China Battery Exchange (Zhejiang) Technology Co., Ltd. ("China Battery Exchange"), has secured an equipment procurement order from QIJI Energy (as defined below), the heavy-truck battery swap brand under Contemporary Amperex Technology Co., Limited ("CATL"). Pursuant to the order agreement, China Battery Exchange will provide end-to-end services across eighteen heavy-truck battery swap stations, encompassing equipment manufacturing, delivery, site deployment, and after-sales maintenance.

China Battery Exchange secured its first heavy-truck battery swap station equipment order from CATL in August 2025 under a Framework Procurement Agreement. Building on that foundation, China Battery Exchange entered into a three-year strategic cooperation agreement in January 2026 with Times QIJI Green Energy Technology (Shenzhen) Co., Ltd. ("QIJI Energy"), a CATL subsidiary dedicated to chassis-based battery swapping for heavy-duty trucks, formally establishing China Battery Exchange as a designated equipment supplier for CATL’s heavy-truck battery swap station program. This eighteen-station order marks the first batch procurement under the January 2026 agreement, a significant commercial milestone signaling China Battery Exchange’s substantive partnership with CATL has transited from pilot phase into active commercial operations, which reaffirms its credentials across product quality, manufacturing, and deployment.

This batch order is placed as part of CATL’s "Ten Thousand Station Plan," under which QIJI Energy is targeting the completion of approximately 900 heavy-truck battery swap stations by year-end 2026. As a core equipment supplier supporting that rollout, China Battery Exchange points to a strengthening order pipeline ahead. The Company will provide updates on project progress and order execution as developments warrant.