Either it's worth 10x the price, or they cooked the books. Which do you think? Are all Chinese deep value stocks fraudulent?
I owed one Chinese stock many years ago. When it started to dip, the CEO offered to buy the company for a 25% premium. The stock popped, he never bought the company, and it went back down. It was never a real tender offer. Their accounting was suspect. I was lucky to get out. I can't remember the symbol. You can't trust their financials. They are all crap.