Focusing on the growing demands for electric vehicles (EVs) in China driven by Chinese government policies, ZAP and Jonway Auto has developed a small EV sedan designed for city driving. Due to the high levels of air pollution in the large Chinese cities, the Chinese government has changed its subsidy policy to scale based on the range a EV can achieve, instead of the former policy which was based on the amount of lithium batteries used. EVs with less than 100 km range receive a subsidy of 30,000 RMB (~USD$5000) and this scales up to 60,000 RMB (~$10,000) for EVs with range over 200 km.
SPARKEE comes in two models, the lead acid version which has a lower range of 120km and the lithium version which has a longer range of more than 180km between charges. Sales of SPARKEE in China is intended primarily for the densely populated urban areas where many of the city governments have to pay penalties for exceeding pollution indices and government vehicles that have emissions are forced to stay off the roads on "red alert" days. Jonway Auto is gearing up production to deliver several thousand of these vehicles for the Chinese market by June 2014 and will be working with local dealers who see a huge market. SPARKEE is attractively priced between US$7000 to US$12,000 depending on the motor size and battery type as well as capacity.
China is to "declare war" on pollution, Premier Li Keqiang said on Wednesday at the opening of the annual meeting of parliament. Curbing pollution has become a key part of efforts to upgrade the economy, shift the focus away from heavy industry and tackle the perennial problem of overcapacity, with Li describing smog as "nature's red-light warning against inefficient and blind development". -Reuter.
16/1/14 The News Journal. Wilmington, preliminary injunction hearing before Vice Chancellor Laster, Deutsch v. ZST Digital Networks Inc. 3 p.m. Wilmington, oral argument.
February 2, 2014 2 p.m,, Wilmington, hearing before Chancellor Laster, Deutsch v. ZST Digital Networks Inc.
Should be more than book value after all this time and a promishing future !. Many shareholders bought share for more than $3 some years ago !
Shanghai stock exchange. The deal values Neway Valve at 46.5 times its 2012 earnings !
By Weiyi Lim Jan 16, 2014 4:01 PM GMT+0000
Neway Valve (Suzhou) Co. (603699), a maker of industrial valves, will become the first company to start trading in China today after a freeze on initial public offerings that lasted more than 15 months.
The company and existing owners raised 1.5 billion yuan ($241 million) after selling 82.5 million shares at 17.66 yuan each, according to a statement on the Shanghai stock exchange. The deal values Neway Valve at 46.5 times its 2012 earnings, compared with 33.9 times for its listed industry peers, the company said Jan. 8.
Neway Valve is among new offerings that will pose a first test of the securities regulator’s attempts to revive confidence in IPOs by cracking down on overpriced deals. China, the world’s largest IPO market in 2010 with a record $71 billion raised, hasn’t had an IPO since October 2012 as regulators drafted rules aimed at tightening IPO supervision.
“If the first few IPOs do well and bring good returns, that’s going to attract some attention,” David Gaud, a senior money manager at Edmond de Rothschild Asset Management, which oversees about $120 billion, said by phone from Hong Kong on Jan. 14. “It’s a bit painful. It may take a few more IPOs to fully understand how it’s going to work.”
Fifty companies are expected to be ready to list by the end of January, the China Securities Regulatory Commission said Nov. 30 after pledging to move toward a U.S.-style IPO registration system.