CER found 83 stores in five cities in Henan. The latest 10Q claims to be generating revenue in 584 cities, including 29 first-tier cities. In this context 83 stores doesn't sound like that small of a number for only five cities.
a couple of people riding around on motorbikes looking for stores in only 5 cities, making up less than 1/3 the entire population of Henan, doesn't exactly seem to be thorough to me. Yet CER is confident as to the thoroughness of their research in this respect.
Management lied, who cares about the numbers???? They lied by a lot, not just an ooops, clearly lying to shareholders.......CER realized management lied to they creamed them in the report. If CER lied some well so be it, that doesn't mean that management didn't lie also.