The stock is in toilet because noone in China ever cared about shareholders. I really cant recall any honest Chinese company with honest CEO. Tons of them are full frads, the rest hides things and is not straigth. The country has the fraud embedded in their DNA and it all starts with asian unability to say NO as an answer. They will rather lie than be honest with you when it means telling you something "bad". Call it culture difference, call it fraudulent behavior but it took me some time to understand.
To put in in a bigger picture, I have seen/read about tens/hundreds of examples how they fu*** foreign companies in China but I cant recall anyone who made some tremendous business there.
China is just wrong-minded in this regard and I just cant see a way they would make money for foreign people from an investment point of view.
Dont get me wrong, I wish you make money on this investment. But I dont see this company as worth any serious money anymore. Facts are clear - after 5 year plan, nothing good happened for shareholders, except one, truly pushed, ECAB deal. Fundamentals are down the toilet and imho thats just the beginning (as Im a bear about Chinese economy), the company keeps diluting no matter what, new guys arent helping, foreign listing is a topic from 2012 and still nothing ofc. Refused by 2 exchanges (though I agree its probably the same reason) and dumped by their advisor after 2 yrs of DD. I can understand you think FD will change this but I doubt it. He is alone and faces too many challenges imho.
