Pressure Building... What will happen? --- XIN price, 5 day, 20 day, 50 day, 100 day and 200 day averages all within a few cents...
I think you are absolutely right about market not trusting the company. The biggest problem for me is the fact the company hired a non-Chinese speaking CFO (while the CEO merely speaks English) who has no good track record, I'm always troubled by that. Plus, I could never seem to get a response from this Tom Gurnee guy. And, if Blue Ridge is selling at this price on the open market, you have to wonder WHY? Too many illogical things, hard to have much confidence.
There is no competent Mandarin speaking CFOs on the Mainland, not few but none. Why should there be? Those people are worth their weight in gold outside the Mainland. Why should they stay on the Mainland? Chinese employers are little emperors. They think all employees, including C-levels, should be happy with 1,200 RMB a month, company housing, and lunch at the company canteen. The problem you noted will change when Chinese culture moves towards a global normative state. Otherwise, the many talented non-business owners produced by the Chinese education system will flee the country every year for a salary above subsistence level.
@Casey, I disagree your comment that there is no competent Mandarin speaking CFOs in the Mainland. A friend of mine is the CFO of CNOOC. I know his total compensation including numerous benefits are way more than many CFOs in the US. One thing I have to mention is that their salary numbers on the filings may look low compared to their US peers. However, they have many powers and implicit benefits that US CFOs do not enjoy.
The reason why many Chinese companies listed in the US hire English speaking CFOs is totally for investor relation purpose. The English speaking CFOs have much less management exposure than their Chinese colleagues.