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Stock Market & Financial Investment News

News Breaks
February 4, 2013
09:10 EDTKNDIKandi Tech forms joint venture with Geely Auto to create new EVs in China
Kandi Technologies announced that on February 1, the company's wholly owned subsidiary, Zhejiang Kandi Vehicles has signed a cooperation framework agreement with Shanghai Maple Guorun Automobile, a 99% owned subsidiary of Geely Automobile, to establish a joint venture company, named Zhejiang Kandi Electric Vehicles to engage in the investment, research and development, production, marketing and sales of electronic vehicles in China. Pursuant to the terms of the framework agreement, the JV company will be owned 50% by Shanghai Maple and 50% by Kandi Vehicles. The registered capital of the JV company will be RMB1,000,000,000, and with 50% to be contributed by each party. Upon the establishment of the JV company, the JV company will acquire certain assets from Kandi and Geely Auto in order for the JV company to process the necessary properties, assets and technologies to conduct the EV business. The board of directors of the JV company will consist of four directors, of which two will be nominated by Kandi Vehicles and two will be nominated by Shanghai Maple. Mr. Shufu Li, Chairman of Geely Auto will be appointed to be the first Chairman of the JV Company and Mr. Xiaoming Hu, Chairman & CEO of Kandi will be appointed to be first General Manager. Each appointment is for a term of three years.
News For KNDI From The Last 14 Days
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August 31, 2014
13:49 EDTKNDINomura to hold a forum
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August 29, 2014
16:21 EDTKNDIOn The Fly: Closing Wrap
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12:18 EDTKNDIOn The Fly: Midday Wrap
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09:35 EDTKNDIKandi Technologies raises $71M in a registered direct placement
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August 27, 2014
09:12 EDTKNDIKandi Technologies reports Kandi Brand EV led China's pure EV production in July
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August 26, 2014
09:21 EDTKNDIKandi Technologies volatility expected to move on China mulls more EV charging
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08:56 EDTKNDIOn The Fly: Pre-market Movers
HIGHER: Tim Hortons (THI), up 10.5% after announcing merger agreement with Burger King (BKW), which is up 4% after the news. Burger King CEO Schwartz will become group CEO of the new company and Berkshire Hathaway (BRK.A) has committed $3B of preferred equity financing for the deal... DSW (DSW), up 12% after reporting Q2 earnings beat, FY14 outlook above consensus... Kite Pharma (KITE), up 17% after announcing phase 1-2a results from trial of potential treatment of non-Hodgkin's lymphoma... Mobileye (MBLY), up 4.4% after coverage of stock initiated at several research firms, including Morgan Stanley which started with an Overweight rating and $46 price target and named it a new top pick... Kandi Technologies (KNDI), up 9% following Bloomberg report on Chinese government considering funding for electric car chargers. LOWER: Best Buy (BBY), down 3.7% after reporting Q2 revenue below consensus, Q2 same-store sales decline of 2.7%... Sanderson Farms (SAFM), down 5.9% after Q3 earnings, revenue miss estimates... Movado (MOV), down 5.1% after Q2 revenue miss expectations... DOWN AFTER EARNINGS: Prospect Capital (PSEC), down 3.5%... Trina Solar (TSL), down 7.6%.
07:45 EDTKNDIChina mulls providing $16B to build more EV charging facilities, Bloomberg says
China is contemplating whether or not to provide $16B in government funding to construct charging establishments and boost demand for electric automobiles, according to Bloomberg, citing two people familiar with the matter. The sources said that the policy will be revealed shortly. Kandi Technologies (KNDI) develops electric cars in China, while Tesla (TSLA) is selling its electric vehicles there. Reference Link

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