Xinde Technology Company. (WTFS) jumps on stronger markets for products
Posted on: June 16th, 2011Written by:
Xinde Technology Company. (OTCBB: WTFS) shares soared 16.8% to 70.1 cents Thursday, on news that the company’s products were making inroads in the Chinese market. Volume for the stock surpassed 6.7 million shares, compared to only 1,000 or so per day normally, according to data from Yahoo Finance.
On Thursday, the China-based designer and manufacturer of internal combustion engines and parts announced it is confident its products will soon end the technical monopoly current enjoyed in China by concerns outside the country in this key product category.
This, following successful tests and market studies, and the granting of technical patent certification and exclusive manufacturing and distribution rights for its breakthrough diesel engine FIRCRI common rail electrically-controlled fuel injection system.
The Company noted additionally it believes that with slight modifications, its new fuel injection system can be upgraded to meet the Euro IV/V emission standard, which is only slightly lower than the 35.5-mile-per-gallon standard to be adopted in the U.S. in 2016, and likely to become the standard in China in future years.
In a June 16 press release, Xinde CEO Dianjun Liu stated, “Our confidence in this very significant ‘home-grown’ product is supported by the supply letter of intent we have concluded with Weichai Power Co., Ltd, one of the main diesel engine manufacturers in the People’s Republic of China. They are prepared to purchase 200,000 sets of products yearly whenever our new diesel fuel injection system comes to market, which we currently estimate could be in approximately 18 to 24 months.
“At that time,” Liu said in the press release, “we expect to be the sole domestic manufacturer of an electrically-controlled diesel fuel injection system that meets and exceeds the new emission standards that will become mandatory in China in 2015.”
Based in China’s Shandong Province in the city of Weifang, Xinde Technology Company competes in three primary product segments, namely (1) fuel injection system products, (2) diesel engine products and (3) generator products.
