News may still come and it may be positive but there was a ton of speculation that the halt was just to prove/document how much cash the company has, which is absurd. That would have taken 10min and the stock would have re-opened by noon with the co releasing that evidence. Everybody from here to China has read the MW report but the company has not once has the company defended itself against the report or at least come out and said it's garbage. How about generating a touch of investor confidence here?
Companies, especially ones that have gotten beaten up recently, would jump to get positive news out asap following a T1/T2 halt. The longer this goes with the company being silent, the more worried I'd be. If you're stuck in the stock right now, fine, but you would have to be nuts to get off the sidelines right now.
The company doesn't need to do any secondary offerings as IPO funding will be sufficient for their expansion, and Chinese companies don't use share-based compensation to nearly the same extent as American firms. So the day-to-day price movements are immaterial to management at the moment.
I've little doubt that management has been strongly advised by Skadden to keep mum until the review is done, as legal consequences of missteps could be costly. The audited 20-F is due by June 29, and 82 days is not a long time to wait for non-day traders.
By then the shorts will have covered in the 2s to 4s and moved to greener pastures elsewhere. Assuming that Grant Thornton gives a clean opinion, then a year-exit in the mid-teens is likely. The risk-reward is attractive here for speculation, but as with any highly speculative position, its inprudent to put too many eggs in one basket.