Tech company ‘will make $1.1 billion in profit in fiscal 2018’

Technology company Kandi Technologies, Inc. said Thursday it expects to make $2.5 billion in revenue for fiscal 2018, with profits expected to grow as the company develops and expands its technology solutions.

The company said it expects revenue to exceed $2 billion in fiscal 2019.

Kandi said it will also make a $1 billion profit in the second quarter of fiscal 2019, which will be after its first fiscal year in which it has yet to meet its targets.

Kando’s technology platform, which offers virtual reality headsets and games for the Oculus Rift, Steam VR and HTC Vive, has attracted investors from around the world.

Kandi also has a tie-up with Snapchat.