Sounds like the Chinese relied on the outside expert RO to handle this end of it (shell). 'Maybe' the expert made poor choices. BUT if the companies REAL objective is to eventually uplift to NASDAQ this all becomes irrelevant! GENERATE SALES AND EARNINGS and rest will take care of itself!
I mentioned intended purpose for a reason in my post. Their intended purpose was to go public as quickly as possible so they could be the leader in the EV market, with their technology. Doing it the way you mentioned, would have taken them too much time to go public, for the exact same reason(s) you stated and time was of the essence.
Coulda, Shoulda, Woulda...easy for us to say that now. I'm not certain they were aware of any challenges prior to making their decision. Although there were some delays and clean up, seems we are in great shape now and the management is doing everything necessary to get us there. Good luck to all. $DOLV-JBMY