1. Real estate in China seems to be a bubble (besides are you invested in mobile phones and gaming or real estate? Techfaith already has lots of subsidairies, nothing is traceable anymore.
2. There are other Chinese compagnies who are more succesfull now in mobile business like Oppo for instance.
3. Android is very succesfull but its marketshare is already very high, how can Techfaith making no progress? They are blaming the economy but thats stranbge because Android has grown to a big marketshare in 2 years.
4. Look what happened to Zoom, selling all their Chinese subsidairies...
1) All you said is true.
2) CNTF in whole is worth not much, but it worths a lot breaking into pieces.
3) if it sells its subsidary, just building in hangzhou and Shanghai would be about current
market value. not count its holding in Shengyang and Beijing.
4) They still sell phone with profit. the niche market is where money is.
5) Game is moved to mobile. they have technical know how.
All in all, it is a stock hard to value for professionals too. it could go to any price.