YaSheng Group (HERB)

[RealDutch]

Well, a couple of years ago I was invested in CCCL. They had more than $100M in receivables on the books and almost no debt. So I asked them, and urged them, to pay cash dividends.

First time, the IR guy didn't respond. Second time, he kind of hinted that the company didn't have the cash. So I told him about the receivables. And then he reluctantly said he would consider it.

It later turned out that they didn't have the cash. Because they couldn't collect half of it, and everything else basically collapsed, as is not unusual in the China space.

And here you have the Vice President passing on my suggestion for tender offers (plural) with only $2M in cash on the books. I think it is a positive