I see your point but thought I'd mention, I am an American businessman who has traveled to China about 25 times over the past 5 years, and visited probably 100 industrial companies. What I frequently see are poorly managed enterprises that make a lot of money. They lack organization, quality control, even focus or a sense of strategy. However, they get orders and they make stuff and they reinvest. I've seen many companies double, triple, quadruple in size in just a couple of years.
A good Chinese businessman doesn't need firm rules or governance to succeed. He needs a drive to grow his business.
You probably are right, but no company can prosper forever with poor management and/or corporate governance. It cannot be run like a family business forever. I guess it is a risk-return tradeoff. For now, I think the risk involved in this investment outweighted its return.
Hopefully you would have dozens of other stock holding so HOGS is just a small chunk of your portfolio. At these prices (and lower), you are buying a fast growing chinese company. No american company is growing this fast. My guess is you will regret this sale.