I do not think so. There were many examples in the past that random Chinese stocks were heavily shorted down to a low P/E and no negative news were reported afterward to support the short theory. Also shorts held their position through earnings and hardly covered when earnings surprised to the upside (see RINO's last Q for example).
Shorts are persistent and often make money due to their resources available (often bigger investors/institutions behind this).
I think they also often hope for accounting issues or similar corporate governance occurrences. I am not worried about YONG since it was thoroughly screened by their top auditors (KPMG) beforehand.
from 8/31 to 9/30 short interest increased by 1 million shares.
The highest price YONG traded during that same time frame was $8.00: http://finance.yahoo.com/q/hp?s=YONG+Historical+Prices
so 1 million shares short are underwater right now.
Similarly, from 8/15 to 8/31 short interest increased by an additional 550,000 shares. Over this time frame the highest price YONG traded at was $8.42.
Buy a few more shares, squeeze a short!