Additional fact: Li recognized the mistake he made of trying to manufacture from a small operation. (Look at the difference in number of machines at LQMT in LF and Yihao plus Eutectix.) Small contracts like the knife, guitar pins, etc. is not the way to bring in significant revenues. Major companies were not going to sign a contract with a company that couldn’t fill their order due to the small size of the operation.
Everyone makes mistakes... especially during the early stages of developing a new type of business. Had Li not recognized the mistake he made and had not changed course as he did, that would have been a major blunder. But he did see it. He did make the necessary changes.
It’s only been a matter of months Since those changes have been made. So to criticize the changes and the lack of new business as a result of those changes is ludicrous.