"The reason for this withdrawal is that, in light of current market conditions, the Company has decided not to pursue the public offering of its common stock described in the Registration Statement."
Message to shareholders are we are not a normal China company and actually care about our shareholders and no one is going to get a handout from us(potentially offering shares below book is a handout). I have been following China companies for years and cannot recall one actually doing this. I am a bit in shock! Lol.