Very small placement...
I see no reason for concern.
Condi car industry electric car sales surge in the previous quarter, twice
From: China Securities News Author: Yang Bo Posted on: 2014-03-19 08:57:23
[Abstract] in the U.S. Nasdaq-listed Zhejiang Kandi Vehicle Co., Ltd (KNDI) 17 release of results, fourth quarter 2013 revenue grew 92% to $ 50.6 million, gross profit increased by 152% to $ 11.4 million.
Zhejiang Kandi Vehicle Co., Ltd (KNDI) 17 released financial results on NASDAQ (4333.31, 53.36, 1.25%) market listing in the fourth quarter revenue grew 92% to $ 50.6 million, gross profit grew by 152% to $ 11.4 million. Quarter the company sold a total of 3,568 pure electric vehicles, electric vehicles sales rose 194% to $ 40 million. 2013 as a whole, Condi electric car sales increased 145% to $ 46.6 million, total sales of pure electric cars 4694.
Affected by this news, shares the 17th Condi car industry rose 23 percent to $ 21.41 per share. Over the past year the company's stock price has risen more than 360 percent.
According to Condi car industry executives said, the public electric car sharing system in Hangzhou, the company has been generally welcomed the newly established and highly recognized by customers and a number of local governments. Condit had previously said it plans to expand in Beijing and Shanghai electric car rental service, are Beijing, Shanghai and Chengdu, the selection of partners.
Condi car industry last year with the Maple Run Geely Automobile's joint venture company, engaged in investment, research and development, production, marketing and sale of electric vehicles business, new energy automobile production capacity of nearly 70,000. Condit said the next few years, China's strong demand for the electric vehicle market, and revealed that the company's car rental business is profitable.
Statistics show that currently in Hangzhou Condi provide short-term electric car rental services, and the establishment of multi-layer automatic garage, charging problem solving. The company has partnered with the local government of Hangzhou, will expand leasing the site to parks, hotels, shopping malls and high-speed rail stations and other places. The company expects its electric car rental network will cover the whole city of Hangzhou in the next three to five years.
