China athletic footwear outlook, page-148

Everybody can agree that the company is worth a lot, judging by the accounts.

But the cause of the SP being low is that people are scared that the money will never leave China, be it because of capital restrictions, fraud, or otherwise.

The SP vs your valuation suggests 1:15 odds. Invest $1, and either lose it or make $10-15 back.

Those extreme odds suggest that most people think the chance of the money being forever out of reach is 90%+.

I'm still holding, so I must be an optimist, taking my chances. But I'm not confident enough to risk more.

The track record of Chinese ASX listed companies seems bad. Is it better than 100% failure rate? People's confidence in Chinese companies is low.

I remember I owned China Steel and before it was suspended it was trading at $0.075, then before it was subsequently delisted, share holders finally got a capital return of $0.035, so something at least.