The firm of Dewey Cheetum and Howe have initiated coverage of Kandi with a strong buy. They also wish to express their thanks to Bullmarket for bringing this gem to their attention.
It's called throwing good money after bad. However, it's never recognized by those doing it until after the fact.
You're being a bit unfair to Kandi. They are also a certified battery reseller.
Do you see Kandi mention on the China EV 100 site? Maybe Hu goes to these things and imagines what he would like to hear and then writes it down on his website. Of course the incorrect translation can always be attributed to his not being able to speak English. Here is what I found on the China EV 100 site.
The Forum also ad hoc latest electric car-related products exhibition, nearly 20 companies showcased their latest products, including Volkswagen, Yutong, BYD, Beiqi new energy, JAC, BMW, wind, micro-macro, Titan, Foton Motor, Nanjing Jinlong, Mercedes-Benz, Nissan, Toyota, when the wind, the National Tower Tech, CH-Auto, SAIC, ZTE, the day can wait. The forum's reception car used in all new energy vehicles, to achieve full green services, in addition to BAIC, Yutong and other auto companies to provide service-oriented forum vehicles, a car (Beijing) New Energy Automobile Leasing Co., also based forum 6 provides a pure electric cars for reception. Guests can watch the exhibitors exhibits in recent years to understand the emerging electric car rental service.
No honorable mention for Kangdi there.
Kandi's EV toys are NOT allowed to drive on the Expressway, so this news only helps to bolster the insignificance of this scam.
The best way for you to build a position in Kandi is to sell your shares and then buy them back at a cheaper price. And the fact that Kandi will go lower is about as close as you can get to a guarantee in the stock market.
Perhaps you should read the press release very carefully. Nowhere does it say anything about an order or sale, but the press release and the private board will work very hard to enhance that belief.
The police are unlikely to turn down an offer of free EV, but Kandi winning an order for EV for the Hangzhou Police is a whole other kettle of fish.
Why would they let small retail investors into the private party? Kandi issued more than 4 million shares to private investors at $20 per share, so now they have to reprice the warrants and issue more shares so that the private investors don't lose money on the deal. That is what has been driving the stock down. A savvy investor such as yourself should know that.
From someone who is neither long nor short, it looks more like selling shares all day and then marking the tape at the end of the day in an attempt to make it not appear as bad as it really is.
The information is all there on the Hong Kong Stock Exchange for anyone to read. However, since you are from the private board where the only information consumed is what you have been spoon fed, here is a bit more info:
(A) The Geely Parties, which comprise Zhejiang Jirun Automobile Company Limited and Shanghai Maple Guorun Automobile Company Limited, both being 99% owned subsidiaries of the Company and principally engaged in the research, development, production, marketing and sales of sedans and related automobile components in the PRC; and
(B) The Joint Venture Parties, which comprise Xin Dayang Mechanical and Electrical Group Company Limited, Bao Wenguang, Jinshajiang United Venture Investment Enterprise, Ningbo Shuanglin Automobile Parts and Components Company Limited, Jiangxi Wenxin Industrial Company Limited, and Yuan Dongli (Beijing) Investment Company Limited.
Xin Dayang Mechanical and Electrical Group Company Limited is principally engaged in the research and production of electric vehicles. Jinshajiang United Venture Investment Enterprise, Ningbo Shuanglin Automobile Parts and Components Company Limited, Jiangxi Wenxin Industrial Company Limited and Yuan Dongli (Beijing) Investment Company Limited are investment companies that focus on investments in new energy and technologies. To the best of the knowledge, information and belief of the Directors, having made all reasonable enquiries, the Joint Venture Parties and their beneficial owners (applicable to those Joint Venture Parties which are corporate entities) are independent of and not connected with the Company and its connected persons.
Today Geely announced that their 99% owned subsidiary Shanghai Maple, the same company that formed the JV with Kandi, has formed a new JV for the following purpose:
The Joint Venture will be engaged in the research and production of automobile parts,
components and engines, production of electric vehicles and the provision of related after-sale
Their EV is their go-kart scaled up and wrapped in plastic. Same product, different price.
I would imagine he/she is making fun of the pumpers who always bought shares for a few dollars less when the stock's downward trend reverses.