That's a worse business model. Its a basic retailer/distributor...

That's a worse business model. Its a basic retailer/distributor with no special product or IP that earns thin margins and sucks in working capital. Businesses selling consumer products into China or via Daigu like this are a dime a dowzen. How again should be priced or looked at like APT when its a run of the mill retail distributor? If anything it should be looked at like WOW or TRS at best. Dreaming to think otherwise. JAT hasn't proved a thing other that it makes questionable acquisitions (i.e. poor allocates of capital) overlaid with poor corporate governance.