Yes, it's more important that the outstanding shares remain unchanged. But it's still quite important that the investment community understands how. For one, I'd like to know where these shares come from.
I appreciate your points about Chinese banks. However, other Chinese companies do have credit lines with banks.
Funding growth from cash flow may well be preferable to these deals. After all, this transaction is only $3.5M, perhaps 5% of 2011 cap ex. I'd rather they take 2 years to green house the HU plantation, unless they can make the transaction thoroughly understood by the marketplace.
Another possibility is a rights offering to existing shareholders, as suggested on the call. That would put shares in the hands of long term shareholders who would not short against them.
Another possibility would be selling an asset, be it a percentage interest in the HU plantation, or restaurants, or a piece of whatever recently acquired land is expected to be put into production last.