It is sobering to say the least. It helps you understand, if you have any doubt, the headwinds that much be overcome for any Chinese reverse merger stock. It's an easy attack, and something you must be prepared to weather ... stop losses won't save you if it happens to your stock ... only real sustained execution over time.
Here is the Canadian Lithium article from The Street.com late last week that mentioned KNDI in a positive light.
Downstream Automobile Manufacturer Launching New Model
Chinese Electric Vehicle (EV) manufacturer Kandi Technologies (NASDAQ:KNDI) launched the lithium ion battery based electric car, the KD5011, featuring a range of between 200 to 230 kilometers per charge. The previous model, KD5010, used a lead-acid rechargeable battery and had a reduced driving range of 100 to 150 kilometers per charge. Kandi is among the leading producers of go-karts in the world, with an estimated 15 percent share of market and the ambitious goal of doubling this share. The company believes that battery powered, electric super minis and related services will eventually become the company's largest revenue and profit generator. They also announced that the new model is eligible for national subsidies in a series of pilot cities as designated by the Chinese government.
On a trial basis since June, China has been giving out as much as 50,000 yuan toward the purchase of plug-in hybrid models and up to 60,000 yuan in the cities of Shanghai, Changchun, Shenzhen, Hangzhou and Hefei for vehicles that run only on batteries. China may also be investing more than $15 billion in electric vehicles during the next 10 years. The country's aim would be to increase annual production capacity of alternative-energy vehicles to 500,000 by next year as part of efforts to cut oil imports and rein in pollution.