In theory a merger might make sense. However in practicality, a merger would (IMHO) be difficult to pull off. The Chinese government has all sorts of road blocks up for preventing foreign take overs of Chinese companies. Similarly, given the potential for military uses, the U.S. government might try to prevent the take over of LQMT by a Chinese company.
Also, Li/Eontec might find it difficult to get enough money out of China to effect such a merger/take over.
Also, Li/Eontec might find it very difficult to get LQMT shareholder support if the merged company were to be listed on a Chinese stock exchange instead of a U.S. stock exchange. IMHO, LQMT's shareholders should be very wary of any potential merger that involves the Chinese stock exchange. What good would your shares do you if you couldn't get your money back to the U.S. after you sell them?