Noted that $8.50 is yearly target. But if you are forecasting zero growth until 2021 when you get SAMR then whether it's now or in a year fair value is $8.50. Agree A2M has done very well but note you have an FDA trial in the US coming up with a 90% chance of losing which the market is not pricing in. If A2M loses the lawsuits will come flying from all sectors which A2M has taken market share.
Down 28% and 42% on Tmall/Taobao, page-4
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