If this company is not bankrupt who are the rightful owners? Mr. Guo owns over 50% but what about the US depositary share holders. Can Mr. Guo just cancel these shares without offering any compensation. Where are the lawyers on this board?
As long as he has the chinese government on his side, apparently Guo can do as he pleases. So far the chinese government refuses to take any action against its own CEOs - see the PUDA case. Now we also have the ZSTN case, where US citizens are allowed to seize their assets. But how one seizes assets in China is another question.
This was not my question/concern. Some day Mr. Guo may want to list in Hongkong or Shanghai. Before he can do this does he not first have to compensate us existing owners/shareholders or can he just remove our shares in the company from his books?