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Kandi Technolgies Group, Inc. Message Board

sailbad2011 72 posts  |  Last Activity: 21 hours ago Member since: Jan 31, 2011
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  • sailbad2011 sailbad2011 21 hours ago Flag

    It's not the #1 EV car maker, it's the fact that the #1 EV car purchaser might not have any money to pay for the purchases. When you have a business that only has one customer there are inherent risks. When you are both the maker and the ONLY customer, the risk is compounded. Jack Daniels didn't become a big name by drinking every bottle of whisky he distilled all by himself.

  • sailbad2011 sailbad2011 21 hours ago Flag

    It's not the #1 EV car maker, it's the fact that the #1 EV car purchaser might not have any money to pay for the purchases. When you have a business that only has one customer there are inherent risks. When you are both the maker and the ONLY customer, the risk is compounded. Jack Daniels didn't become a big name by drinking every bottle of whisky he distilled all by himself.

  • Reply to

    Will Charging Stations Be TESLA Compatible

    by moneyclip155 Aug 26, 2014 10:33 AM
    sailbad2011 sailbad2011 Aug 26, 2014 12:02 PM Flag

    Of course they are not KANDI compatible, nor TESLA compatible. The problem is that China has no National Standard for EV charging. Beijing has a stardard, Hangzhou has a standard, Bumfuk has a standard, but none of them are the same, and none compatible with the other. Don't expect any money to be allocated "soon" for a national build-out, and quotes from nameless sources familiar with the matter are nothing more than rumours. But hey, it's a good time to register some more shares for sale.

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  • Reply to

    Haitong Securities "overweight" KNDI.

    by bullmarkethobo2012 Aug 5, 2014 8:42 PM
    sailbad2011 sailbad2011 Aug 22, 2014 3:42 PM Flag

    Hey Art. Try not to get too close to the Bull or Sherrif Foti might scoop you up in his net as well.

  • Reply to

    Haitong Securities "overweight" KNDI.

    by bullmarkethobo2012 Aug 5, 2014 8:42 PM
    sailbad2011 sailbad2011 Aug 22, 2014 1:58 PM Flag

    All of Haitong Securities research reports are available online and NONE of them mention Kandi or Condi. The four research reports that were issued regarding energy in 2014 are as follows:
    [Sector] Natural Gas, a clean, safe, and user friendly energy, 20141307(ENG) 2014-03-18
    [Sector] New energy vehicle - Tesla ushers in a new e-driver era, 20140408(ENG) 2014-04-15
    [Strategy] Energy technology and relevant industries breed great opportunities(ENG) 2014-06-17
    [Sector] New energy-Lithium Battery prosper together with PV and wind power 2014-07-08

    Looks like it might be time for Sherrif Foti to pay you a visit.

  • sailbad2011 sailbad2011 Aug 22, 2014 12:04 PM Flag

    Perhaps you have failed to notice that Hertz is not the only purchaser of Ford vehicles. That's the big difference here. I am only quoting from their 10-K/A.

    The Company indirectly owns a 9.5% ownership interest in ZuoZhongYou through its 50% ownership in the Joint Venture. The revenue from car rentals belongs to ZuoZhongYou, not to the Company. Therefore, the sole source of revenue to the Company is from the sale to Maple Auto of the Company’s SKD of an EV.

    Here is why people scratch their heads over the JV.
    1. Kandi and Geely own a JV, purportedly to make EV.
    2. But Kandi sells EV kits to Geely.
    3. Geely assembles the kits and sell the EV to the JV customer.
    4. What is the purpose of the JV other than to show two sales for the same product?

  • sailbad2011 sailbad2011 Aug 22, 2014 11:28 AM Flag

    The sole source of revenue is from the sale of SKD kit sold to Geely. Read their letter to the SEC.

    EV Products, page 28

    3.
    Please tell us and disclose in greater detail your EV sharing project. Tell us who your business partners are that are helping you to build a network of public EV sharing stations and tell us how you recognize revenue from your EV sharing network.

    Response: Zhejiang ZuoZhongYou Electric Vehicle Service Co., Ltd. (“ZuoZhongYou”) is assisting the Company in the development of the public electric vehicle (“EV”) sharing stations. ZuoZhongYou is responsible for several aspects of the public EV sharing project, including: (i) launching the public EV sharing business; (ii) establishing a network of public EV sharing stations; (iii) investing in the construction of service facilities and parking facilities for the public EV sharing project; and (iv) providing services directly to customers who rent the EVs. Zhejiang Kandi Electric Vehicle Co., Ltd., a joint venture established by the Company and Geely Company (the “Joint Venture”), owns a 19% interest in ZuoZhongYou. The remaining 81% is owned by Jia Xing Jia Le Investment Partnership Enterprise, an entity which is unaffiliated with the Company.

    The Company recognizes revenue from its EV sharing network when it sells the Semi- Knock Down (“SKD”) of an EV, a complete set of the main parts that can be assembled into whole vehicles, to Shanghai Maple Automobile Co., Ltd. (“Maple Auto”). Maple Auto, a 99% owned subsidiary of the Company’s business partner, Geely Automobile Holdings, then assembles the SKD into a complete vehicle and sells it to ZuoZhongYou. Revenue from the subsequent sale of the full vehicle to ZuoZhongYou by Maple Auto is not attributable to the Company.

    The Company indirectly owns a 9.5% ownership interest in ZuoZhongYou through its 50% ownership in the Joint Venture. The revenue from car rentals belongs to ZuoZhongYou, not to the Company. Therefore, the sole source of reve

  • sailbad2011 sailbad2011 Aug 22, 2014 10:54 AM Flag

    Shun International Securities Research is a Kandi subsidiary.

  • Reply to

    Big money still to be made in Kandi

    by sailbad2011 Aug 21, 2014 9:51 AM
    sailbad2011 sailbad2011 Aug 21, 2014 6:01 PM Flag

    Kandi longs just needs to get a train and some dogs into their story. Prison can be added later, but execution is more common that prison terms for scammers in China.

  • Longs need to start seeking song writers/musicians in Nashville who can put their story to music. The Kandi story could be a bigger Country Music hit than Achy Breaky Heart.

  • sailbad2011 sailbad2011 Aug 14, 2014 5:10 PM Flag

    I thought that was only a crime if it was a woman laughing in Turkey.

  • sailbad2011 sailbad2011 Aug 14, 2014 5:03 PM Flag

    What were you in prison for when you filed the Prisoner Civil Rights lawsuit against Sherrif Foti?

  • Here are two common entries from Kandi’s various 10-Q and 10-K filings with the SEC:
    (i)Notes receivable represent short-term loans to third parties with the maximum term of one year.
    (ii)Notes receivable are unsecured.

    Despite the maximum term of one year for a note receivable, every single Kandi filing (since they started giving the names of the companies they issued the note receivable to in their 10-K/A for the year ended December 30, 2010) Yongkang HuiFeng Guarantee Co., Ltd has been on the list, and always with a due date of September 30, (current year) and always with a fixed interest rate of 9.4%

    In the first quarter of this year the unsecured note receivable with Yongkang HuiFeng Guarantee Co reached a high of $27 million.

    Is Yongkang HuiFeng Guarantee Co really an unrelated party?
    Yongkang HuiFeng Guarantee Co appears to exist for no other reason than to be the sole client of Kandi Bank.
    Is Yongkang HuiFeng Guarantee Co being used to funnel money from the sale of shares to their subsidiaries (called unrelated parties by Kandi) so that they can return it to Kandi as being received for outstanding Accounts Receivable?
    To put it bluntly, that means Kandi sells shares and then gives the money to its subsidiaries to purchase their products. When the sale of shares comes to an end, so does the business.

    Anyway you care to look at it, Kandi is acting as a private banker to Yongkang HuiFeng Guarantee Co, lending them long-term, unsecured money at 9.4% interest.

  • sailbad2011 by sailbad2011 Aug 13, 2014 12:33 PM Flag

    On July 16, 2010, the Company announced that construction of the first battery charging station was underway in Jinhua. The State Grid Corporation of China, China’s largest electric power and transmission company, is funding the project and is responsible for construction, which is completed in November of 2010.

    On October 5, 2010, the Company announced a joint venture with a subsidiary of China’s largest power transmission company, State Grid Power Corporation, and China’s leading lead motive battery maker, Tianneng Power International, Inc., to establish the first China EV battery replacement services Company. Kandi’s 30% share of this Company is expected to provide an additional new revenue stream for Kandi’s EV and recreational vehicles product lines.

    On November 26, the Company opened Jinhua City’s first “Battery Charging Farm” and “Express Change” battery station for Kandi’s pure EVs and launched consumer EV sales in Jinhua. The Company immediately sold out the first 20 EVs available in Jinhua on the day of launch with the anticipated local subsidies. This marks the beginning of commercial sales of pure EV car in China.

    On December 31, 2010, the Company formed a joint venture with a subsidiary of China’s largest power transmission company, State Grid Power Corporation, and China’s leading lead motive battery maker, Tianneng Power International, Inc., to establish the first China EV battery replacement services company - Jinhua Three Parties New Energy Vehicles Service Co., Ltd. (“Jinhua Service”). Kandi owns 30% share of Jinhua Service.

    As of June 30, 2014, Jinhua Service ceased its operations and will be dissolved.

  • Are they still pumping that as a source of revenue on the private board?

  • Reply to

    The Kandi EV related businesses scam - Parts

    by sailbad2011 Aug 12, 2014 11:16 AM
    sailbad2011 sailbad2011 Aug 12, 2014 11:34 AM Flag

    So Kandi and Shanghai Maple, a subsidiary of Geely, create a JV to manufacture EV, but Shanghai Maple purchases 1485 EV from Kandi for $21,016,349 or $14,152 each.

  • Reply to

    The Kandi EV related businesses scam - Parts

    by sailbad2011 Aug 12, 2014 11:16 AM
    sailbad2011 sailbad2011 Aug 12, 2014 11:25 AM Flag

    Can you explain this part again? Kandi is now a battery manufacturer? Have you told that to the SEC in more detail?
    Of the total EV parts sales to the JV Company for the six months ended June 30, 2014, approximately 72% of the sales were related to the sales of battery packs because the auto industry is highly regulated in China and we hold the necessary production license to manufacture the battery packs used in the manufacturing of Kandi brand’s EVs.

  • Reply to

    The Kandi EV related businesses scam - Parts

    by sailbad2011 Aug 12, 2014 11:16 AM
    sailbad2011 sailbad2011 Aug 12, 2014 11:22 AM Flag

    So let's explain how this works. Kandi and Geely create a JV Kandi Electric Vehicles to build EV products. This JV creates a subsidiary Kandi Jinhua, and Kandi Jinhua hires Kandi (its grand parent) to assemble the products for which purpose the JV (its parent) was created.

    No related party transactions here.

  • EV Parts

    EV PartsDuring the six months ended June 30, 2014, our revenues from the sale of EV parts were $42,238,297. We started the EV parts business in the first quarter of 2014, and our revenue for the six months ended June 30, 2014 primarily consisted of the sales of battery packs, body parts, EV drive motors, EV controllers, air conditioning units and other auto parts to the JV Company for manufacturing of EV products. Of the total EV parts sales to the JV Company for the six months ended June 30, 2014, approximately 72% of the sales were related to the sales of battery packs because the auto industry is highly regulated in China and we hold the necessary production license to manufacture the battery packs used in the manufacturing of Kandi brand’s EVs. Under the JV agreement, our EV manufacturing business will be gradually transferred to the JV Company. We will be primarily responsible for supplying the JV Company with EV parts in the future and the JV Company will be primarily responsible to produce the EV products.

KNDI
19.0699-0.1901(-0.99%)11:15 AMEDT

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