Ann: 99 Wuxian delivers significant revenue and profit growth, page-23

Its simple, the business is just expensive and still is. The company has a lot of growing to do before it will get the SP going again. It doesn't help that the only broker that follows it has overzealous assumptions backing its estimates. If Foster's were right the company would be on a forward EBITDA multiple of 33x, but at the realised FY14 EBITDA of $3.2m its still on an 84x multiple. Without some exceptional news or a big unexpected leg up in growth, the SP will likely slide for some time until its not as expensive.