It's a close, close brother of the CG125. Honda had, and still has two factories for the CG125. One is in China, the other is in Brazil. They've been making the motorcycle since the 1960's, and it's shipped all over South America, Africa, and some of the poorest countries in the world. Reason being is that it's a completely outdated but effective UJM (universal Japanese motorcycle).
Honda was one of the first to take their production into China under their own factory. The Chinese are very, very capable of producing good quality, but the factory must be owned and maintained by an outside source. General factories within China which are Government owned either wholly or in part are the ones which produce trash. Needless to say, Yamaha followed them not long after, and built their Chinese factory (and also one in Brazil) across the street from Honda (in both locations), and Yamaha began the production of the YBR125.
We were one of the first companies in the USA to go to China, and start our production in the motorcycle business as well. Once Honda had Chinese workers, other factories began copying the CG125, and it quickly became the most popular motorcycle in China, South America, and Africa. We went to China, got a factory (ShangHai EkChor Public) and put several different names on the motorcycle depending on where we were sending it to. The model we sent to South America and Africa was the Kumoto CG125, but the model sold in China as the Xing Fu XF125, etc., etc.
It was a great business until the mid 1990's, and when the South American Peso crashed, so did the business. The echos of that crash went all the way to Africa (they were doing trading at the time between each other), so the largest customers dropped. Reason being that when the South American Peso crashed, that motorcycle, even though we sold it for the same amount, it increased in cost to the retail buyer by almost 400%. Business over.
Anybody who has a 125cc Honda with the model CB, CG, etc, I have a lot of parts left. They are in Miami and were waiting shipment when the business crashed, but I'm toying with the idea of bringing them back and Ebaying the parts. There are 10 crates of parts which were supposed to be loaded into a container and shipped to Brazil, but they never made the boat, and they are still there. I believe the inventory is in the $200,000 mark, but I can't be sure of the actual number. Frames, engine cases, carbs, lights, chain guards, seats, cables, pistons, mufflers, head pipes, instrument clusters...you name it, the parts are there.
The main difference between the CB and the CG is really the "look design". The seats, tanks, and plastics, and wheels are not interchangeable. The CG125 had the longer, flatter seat, spoke wheels, longer standard gas tank, and very little plastic. However, several other parts are completely interchangeable. Just looking at the pic, I know for a fact the instrument cluster, forks, handlebars, controls and mirrors are interchangeable, and I've got probably 250 pistons which I would bet are a direct match up.
Sorry about the long post, but I just found it interesting that we stumbled upon this, and it was a pretty large part of my life. Anybody want some Honda 125 parts, let me know. I probably have enough parts to fully assemble a few motorcycles, but there would still be a LOT of parts left over.