China athletic footwear outlook, page-39

HTran- like your posts, have been following for a couple of years now as have been quietly betting the house on XPD since shortly after the IPO. 

The key is open disclosure. We are completely in the dark with a Managing Director who has no credibility. We still have had no explanation from him or the family as to what they’ve been doing re their sell downor their stupid attempt to change the ASX name. We have had no explanation as to the weird increase in credit last year. I hope the second factory is working. The next announcement from the company will make or break this investment. If the SAFE approval is not forthcoming we need to find a buyer, probably in HKong. I wonder whether the original float had approval from the Chinese authorities. Any reluctance from SAFE may get tangled with historical issues especially as the owning family does not have a good record of following rules. 

Thank goodness Mejority Capital is on our side.