You are absolutely right imho. The same did GURE in the last 10-Q, they increased their depreciation & amortization and cut EPS to the half, but after the persistent questions in the cc the admitted that they approached by PE funds etc...
I agree, the price is low. But I think you should mostly blame the shorters and the sycophants of chinese stocks, who drove all these stocks down indiscriminately. Already about twenty left or are ready to go. More will follow.
I agree. These insiders can get the companies for two or three times earnings, less than book, maybe a third or less than if they were American companies. Why shouldn't they?
Anybody who thinks that holding on and eventually having six or seven baggers is kidding himself or herself. The ceos or other insiders can just go private 20% TO 30% above the current very, very depressed prices. They won't wait for a really fair market value to develop before pulling the trigger and taking them private.
Too bad for us but, as you say, the wise guys drove these prices down and now we longs are dead meat if we had long term intentions.