Zongshen PEM Power Systems up 25% Wednesday
Shares of Zongshen PEM Power Systems (TSX: T.ZPP, Stock Forum) jumped more than 25% to 55 cents Wednesday, and while the company released no news, one Stockhouse poster provided the Bullboard with some interesting comments from a recent news article about the company, which manufactures environmentally friendly small gas motorbikes, electric motorcycles, electric bicycles and other e-vehicles in China for the Chinese domestic and international markets.
On the Bullboard, mooreman said:
“Interesting article about ZIG posted by Reuters last week. Zongshen Group expects sales of their motor vehicles (globally) to be flat in '09, but seeing an increase in domestic (Chinese) sales much of that increase in motorcycles (see below). Of course, ZPP exclusively manufacturers small gas bikes for ZIG, as well as ebikes and kits. "The group expects to sell 25 million vehicles this year globally, lifted by a 30 percent rise in domestic sales and the government's policies designed to boost motorcycle consumption in rural areas.[sic]”
Zongshen PEM Power System's largest shareholder is Zongshen Industrial Group.
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