You don't have to take lunch with Warren Buffet to understand the concept of low-hanging fruit, so why travel 1000 miles with 1000 vehicles when you haven't even scratched the surface of the 8 million residents of Hangzhou? How many locations and EV do they have for rent in and around the busy metropolis where they are manufactured?
Hu is a compulsive liar who doesn't mind filing his lies with the SEC. Remember the 20,000 EV purchase order from China Aviation Lithium Battery filed with the SEC? Or the 1000 EV sold to the recycling company in Rome?
Where are the QBEX stations State Grid was going to build after the licensed the QBEX technology from Kandi? ZZY was only going to purchase Kandi EV outfitted with QBEX. Quick Battery EXchange, a bigpotential money earner for Kandi, was the subject of a road show three years ago, but that has been mothballed without one single battery being exchanged. ZZY will also close, unless the SEC closes everything first, without one single EV being rented by anyone unrelated to Kandi.
Overseas analyst Sailbad issues the following opinion on Kandi's latest news relese:
1. ZhouZhonYou is really just "You" the American shareholder.
2. Kandi couldn't find a single customer for their EV so they created a rental company with which they could book sales at whatever price they wanted. A terminal revenue stream so to speak.
3. They pumped up the share price, sold shares, and pumped the money through a bunch of related companies, none of which had a product that anyone in the open market was interested in.
4. The growing stockpile of EV at Kandi made for a good video until someone asked "why aren't these EV being sold or rented?".
5. Kandi is going to sell their growing stockpile of EV (built with money that came from the sale of shares) in Chengdu which is almost 1000 miles away, but not a single local or national company in Changdu is interested, so Kandi creates YouChangdu to pump a new PR to keep the scam alive.
You can use your high-volume-can't-keep-your-mouth-shut chewy alias to respond if arthritis is causing problems with your ability to switch between aliases.
Since you and Art Porcari are undeniably one and the same, you have been following his posts far longer. lol. Your signature, like the repentant short and a host of others has been quite active recently, so something big must be about to break.
The world famous investor and analyst (and securities recidivist) Art Porcari will be there. Maybe someone can find out what happened to the City Beauty and City Cowboy and other promises from the last "conference".
First you have to answer the question, when are you going to stop beating your wife?
OK, maybe you don't beat your wife, and Geely certainly hasn't abandoned their EV program. So what's in it for Geely? I would hazard a guess that they enjoy the same incestuous relationship with the JV that Kandi does. Here is some info from the latest 10-Q:
Sale of shares in first six months (their only real source of cash) $70+ million.
Total revenue for the first six month $73 million.
Sale of EV "parts" to the JV $42 million, which is mostly batteries they purchased from someone else.
Sale of EV "products" to Shanghai Maple (a 100% owned subsidiary of Geely) $21 million.
If the JV did not exists then Kandi sole source of revenue would be from the sale of go-karts to Hu's son in California.
Looks like it is going to take more than rumour to climb over the $14 hill where so many suckers are waiting to cut their losses and run.
Your choice of the word "promotes" is very telling. If Motley Fool is indeed "promoting" this scam, then I would expect them to dump the free shares they received in a hurry.
I didn't sell at $22 or $20 or $18 or $16 or $14 so don't call me an idiot.... wait, that may be the definition of an idiot. My bad.
With $70M from the sale of shares they can "buy" the entire production. Unfortunately, its only the small retail shareholders in over their head that will get excited by that.
sailbad2011 • Oct 3, 2014 11:24 AM Lather, Rinse, Repeat....
Run up the price with wash trades and then dump on the suckers who got lured in. Those who bought at $20 are waiting for it to go back to $22, those who bought at $18 are waiting for it to go back to $20, those who bought at $16 are waiting for it to go back to $18....
Now some of those who bought at $14 are waiting for it to go back to $16 and some are just hoping for it to go back to $14 so they can get out without too much of a loss.
Chasendamoney, the action you are seeing over the last two days are good examples wash trades. You have to make big moves up every now and again or you wouldn't be able to lure new suckers into this scam. Selling at $13 is not as profitable as selling at $15, but they will still make a profit selling at $10, albeit they will be selling a lot more shares.
AAPL stock might go up or down as the market is impossible to predict. The same can be said for KNDI stock. AAPL (the company) is not under investigation by the SEC and even if they are (or may become), the chances of AAPL being de-listed and you lose your entire investment are minuscule. The same cannot be said for KNDI.
Here are the rental car procedures.
1, find the nearest "micro bus" parking garage
2, verify valid identity card and driving license
3, signed a lease agreement
4, pre-credit card 1000 yuan
5, micro buses library Inspection
6, driving down the road it
What's the problem? The rental company holds the 1000 yaun deposit for two weeks before it is returned. How many people in China who can't afford a car will have a credit card and 1000 yaun of money in discretionary spending on it that they can leave sit for two weeks?
It seems clear that Kandi is not the only player here. Kandi's press release only mention West Lake hotel that had their cars.
16 Electric Car Rental Stations Set in 16 Hangzhou Upscale Hotels
In many upscale hotels, people will find several white and green cars are parked in front. They appear like the SMART car of Mercedes-Benz and on their body are printed three Chinese characters “微公交 (mini bus)”. These cars are no private cars, but public cars open for rent.
They are pure electric cars, and can travel about 60 kilometers per charge. At present, there are two car models available, two-seat and four-seat. A two-seat electric car charges 20 Yuan per hour, and four-seat 25 Yuan. To rent the electric car, one only needs to present his valid ID and driver license, sign the car rental agreement and pay 1,000 as a deposit.
According to the operator of the “mini bus”, at present, there are 21 electric car rental stations in Hangzhou, including 16 in upscale hotels (Landison Plaza Hotel, Dragon Hotel, Hangzhou Huagang HNA Resort, West Lake Hillview International Hotel etc.) and five other independent stations. Over 1,000 electric cars have been put into use. It’s planned to build some 100 electric car rental stations in Hangzhou this year. High technologies like app software, online booking and telephone booking etc will also be used to improve the service.
New energy car sales boosted in China by gov’t subsidies.
Nice article last month in Hangzhou Weekly and no mention of hometown hero Kandi/Condi.
In the first half of the year, BYD made sales of more than 26.7 billion yuan (US$4.3 billion), of which new energy car sales comprised 2.7 billion yuan (US$440 million), a 12-fold increase. The firm’s new energy cars accounted for 37% of the nation’s total market in the first half of 2014, with its plug-in hybrid exceeding 60% of the market.
In the first eight months, new energy cars reached 31,137, up 328% from the same period a year earlier, of which all-electric cars hit 16,276, up sevenfold, while plug-in hybrids totaled 6,621, up 12-fold.