Voltage Regulator Zip50 With 125ccm hexagon engine

I have put a 125 ccm hexagon engine on a Zip50ccm scooter and now i have taken the wiring for the voltage regulator and the plug to the engine in one piece so that i have 3-4 wires that could be plugged to the zip wiring…
When i measure the voltage on the red and black (positive/negative) i have a reading on my voltmeter that says 18-34v.
Is that Rigth ? [[:O]]
Could it be because i havent connected a battery? or wil this kill the battery because of overcharging?
Please help me [:’(]

P.s. The Hexagon had ligths and everything working until i took it apart

This is a better photo…
Its the Voltage regulator with the 2 yellow wires underneath the engine…