dividend looks like it is coming due to recent spike
In my opinion, the stock price doesn't reflect the value of the company at all. A change to that, it's not about more growth or lower debt as for most investors this is another "China stock"and that's enough. The company remains very undervalued, despite the high dividends.
So, they will continue to declare high special dividends or they will make an offer with a good premium of the current pps, but at the same time at a very low pps according to the true value of the company?