John Peterson on Seeking Alpha thinks quite highly of ABAT, both their business, and that he thinks they are quite frugal. He likes their E2W (Electric Bikes) position.
The fact that the stock has done nothing for quite a while is actually pretty good given the huge negative sentiment against Chinese small caps and RTOs.
As for their cash level, they seem to roll up other companies fairly often, so I wouldn't count on them keeping it very long. Generally they seem to be smart deals ... "roll ups" shouldn't be read as negative in this case, at least not so far.