JB and ZJMY Holding Co (JBZY)

[NoWayJones]

I did not get to Guangxi to see the factory. I will try to answer both of your points in one post.

Here is a map of China:



Guangxi is allll the way at the bottom of the country. The provinces I visited are the ones with the green box on them. The Long Star plant is quite far from Beijing. Thousands of miles. I was only there for about 5 days where I could actually do any traveling, but in that time I still managed to put some miles beneath me.

The swap station is in Anyang city in Henan province. I was able to inspect that site and watch the swapping technology in person.

We traveled to Jiangsu province later in the week for a meeting. When I was there I got to meet Professor Han Jianfang, he is the head engineer and the person doing most of the work on both the swap technology and the battery tech, and I had an opportunity to talk to him for a few hours about what the company is working on, the challenges it faces, etc.

I have seen their business plan and they are executing it with very little deviation. Wang Dequn and Jinbo Group were supposed to be a force to push that plan forward at an accelerated rate, but he was not effective in this regard. ZJMY as a result has had to make some adjustments, which will be revealed in time.

I did not ride in a long star car, however, I will note that one of the original high speed vehicles they built as a prototype in 2014, a Chery Cowin V3, was on site when I visited the swap station. One of Han's junior engineers has been driving that car daily since 2014. I took some pictures of that too if you guys are interested in seeing them.