Most likely because it's Chinese and has far too many shares outstanding, market cap is already $700M+. Personally for me share structure doesn't really concern me as much for Asian tickers, as they normally have ridiculous numbers and market caps, it's liquidity thats the primary concern.
US investors don't buy Asian OTC's much, but foreign investors will, so you have to hope they can bring those in first and that in turn sparks US buying. If they don't do this early on in their trading, they usually never do get going and will remain illiquid from my experience. Sure there are some cases where they will pick up out of nowhere, however, if it's illiquid and has been trading for awhile, I don't usually buy those.
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