I spoke last week to one of the responsible persons in the financial department of KIWA by phone. Was a very difficult communication because his English is very bad and difficult to understand. As far as I understood, they, respectively their auditor will need some further time till release of financial reports. I asked why it takes such long, but I could not understand the explanation. One point was also about the change of the auditor.
So unfortunately, I did not get any new relevant information, beside they will need more time. And that they are still working on the financials, which is of course also an important information. According to my personal experience with the company from the past, they are honest people. They always do, what they are telling. But I also know, they ALWAYS need more time than normal. But this also says that their main focus is mainly on the day to day business in China, which is very strong and has huge opportunities. I have no figures for that, but I know from another source in China, that their business is developing pretty well.
I do not want to start arguing with the people here on the board, who are complaining about the horrible management respectively the way of (no) communication. Because these people are absolutely right. There is no way, that shareholders are treated like this. But they are wrong in the motivation of the management! And I am still very much sure that patience will pay off here!
