I hope merger news does bring some PPS for investors here. I am thankful to have gotten out in the green from all Xu tickers a few years ago.
Reason for decline in a lot of Chinese tickers is because of the US delisting happening for some tickers and probably more on the way until they are all gone. The below link just shows a few. Once ticker is delisted only option will be to sell shares at whatever PPS is at and with no buying opportunity at that time everyone holding any Chinese tickers will be scrounging for as much of their capital as possible no matter how red the ticker is.