Kandi Technologies, Corp. Approved for Listing on the NASDAQ Capital Market Under the Symbol "KNDI" Mar 17, 2008 8:30:00 AM View Additional ProfilesJINHUA, ZHEJIANG PROVINCE, CHINA -- (MARKET WIRE) -- 03/17/08 -- Kandi Technologies, Corp. (OTCBB: KNDI), an emerging US traded PRC-based leader in small vehicle production, including ATVs, beach vehicles, golf carts and approximately 15% of China's global export market of go-karts, said today that its application to list its common shares on the NASDAQ Capital Market has been approved.
"As the traditional home of young, rapidly growing companies we believe NASDAQ is the appropriate place to list our shares and we are very pleased to have been able to meet their demanding requirements," stated Mr. Hu Xiaoming, president and CEO of Kandi. He added, "As we continue to demonstrate outstanding growth in revenues and net income, we believe that having our shares trade on NASDAQ will contribute to improved shareholder value by raising our visibility and helping to attract new retail and institutional investors."
The Company said it anticipates its shares will begin trading on NASDAQ on Tuesday, March 18, 2008, with the symbol "KNDI." Until then, it will continue to trade on the OTC Bulletin Board with the symbol "KNDI.OB."
About the Company
Kandi Technologies, Corp. is a PRC (China)-based vehicle machinery producer, concentrating on three areas of small vehicle production: go-karts, special purpose vehicles and casual purpose vehicles. At present, it is among the leading producers of go-karts in the world, with an estimated 15% share of China's global export market and a goal of doubling this share, in large part by becoming the leading producer of this increasingly popular recreational product in China. Focusing on the country's rapid economic development, the Company also sees an increasing need for transportation vehicles for specific purposes, in particular, mini-size pesticide spraying vehicles and mini-service vehicles. Additionally, the Company produces a wide and growing range of All Terrain Vehicles (ATVs) which it believes represent the highest quality vehicles of this type in China, aimed at the export market as well as the rapidly growing market in the PRC. The Company also is focused on the development of fashionable, energy saving mini-cars. It has produced mini-cars that have completed the trial stage and is now preparing to start mass production. It expects to begin to export these cars to the American market, followed by sales in China when the domestic market is more mature. Kandi is a US full reporting company whose shares are traded under the symbol KNDI.OB.
Except for historical information contained herein, the statements in this Press Release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecasted results. These risks and uncertainties include, among other things, product demand, market competition, and risks inherent in our operations. These and other risks are described in our filings with the Securities and Exchange Commission.
Contacts:
Kandi Technologies Corp. Hu Xiaoming President and CEO (86-0579) 82239700
US Investors
Focus Asia Partners Robert Agriogianis Tel: 973-845-6642 Fax: 973-966-6252
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