Zhu is following the Chinese MBO playbook to a tee. Keep guidance down, accumulate cash, don't pay dividends or fund buybacks, frustrate non-insider shareholders and then make an offer 25% over a depressed share price so he can get a fairness opinion. At the rate cash is growing he is going, he will be able to do this without incurring any debt. All the Chinese IPO's from a few years ago, with the exception of fraudulent ones, are going private for relisting in Hong Kong at a later date.
If you want to see LIWA's future go look at the YONG saga. After management tried to take YONG private on the cheap, they attempted to manage earnings and expectations. It got so bad Nasdaq halted their shares until they could explain allowances for doubtful accounts and A/R management. After YONG repented, and Nasdaq lifted the halt, today YONG announced a huge earnings beat. Coincidence, I think not.