Well, too be honest, penny stock are VERY volatile and not for the faint of heart.
I think there is a good possibility it could happen, it most likely will be progresive with wild swings and back and filling.
From what I've studied, the OTCBB only give a China stock like this a 5 to 10 PE. If they could just list on AMEX, it could really fly. They qualify and don't be surprise when they apply.