I don't know where you get the idea that only current assets count.
How about the $853,959,285 worth of property and equipment?
Or the $1,046,094,858 intangible assets? Which is mostly Land Use Rights. LUR qualifies as assets just like any other form of ownership. They don't lease the land. They own the land use rights.
This is what I can find on Benjamin Graham
V (intrinsic value) = EPS * (8.5 + 2* growth)
Even if we assume a growth rate of 0%, then V = 0.88 * 8.5 = $7.48
But at that price it would still be trading 50% below book value.
Agricultural companies don't have to pay tax in China.
That could work to our advantage. As you could see today.
Don't know. Can't keep up with all the things they are doing. Busy bees.
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