The NASDAQ Capital Markets has approved the application of Kandi Technologies, an emerging US traded PRC-based leader in small vehicle production, to list its common shares on the NASDAQ board.
The company currently trades on the OTC Bulletin board and expects that its shares will begin trading on NASDAQ this Tuesday, March 18, 2008, under the new symbol “KNDI.” Until trading takes effect on the NASDAQ, the company will continue to trade on the OTC Bulletin Board with the symbol “KNDI.OB.”
Kandi Technologies management is looking forward to the change. President and CEO Hu Xiaoming stated earlier today, “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.” 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.”
Kandi Technologies is a Chinese based vehicle machinery producer, concentrating on the production of small vehicles, including special purpose vehicles and casual recreational vehicles. Presently, it is among the leading producers of go-karts in the world. Additionally, the company produces a wide, growing range of All Terrain Vehicles (ATVs) which it believes represent the highest quality vehicles of this type in China. The Company is also 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.
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