The only reason why this company can trade at such low prices is because the market perceives it as likely fraud. Now as far as I know the only allegation is that since one of the companies Tom Gurnee worked for was a fraud then Xin is a fraud, but the same concept does not apply to other companies where Gurnee is involved. So the only reason why this company is massively undervalued does not prove to last to a rational test. The conclusion is that markets are irrational because market are made by people who act driven by fear. MM's and XIN are there to take advantage of the market irrationality at the expense of the small investor like you, who are reading this message board. I am on their side and will keep buying whenever I can.
Well, with cash/equivilants per share at $8.29, and book value being $9.86 per share, they can't stay down forever.
They can also buy back up to 7 million shares, or about 10% of total shares, with the new $20 million buyback program.
My goal is to get between the cash per share, and book value within next 12 months, so right now, I am holding until the share price is between $8.29 and $9.86 a share. That will change I am sure next quarter, but that is where it is for now.
USD 9 twelve months target is quire realistic. My goal is to retire on XIN in 3 to 5 years time at somewhere between USD 50 to 100 a share. That is why I hope it will not go private, although admittely the risk is quite high in the next 12 months or so