I think a P/E of 10 is on the high side for a Chinese micro, but I am by no means an expert. Some of the other posters here have much more experience valuing these types of stocks, but I think P/E of 5-8 should be about right.
With the 10Q probably out Wednesday, trading should be brisk. The 10K alone warrants a higher price but with the 10Q looming and with probably at least as good an eps, maybe better, the stock is simply worth more and the market shall determine that price promptly.
I would like to know more about that 41% ownership.