JB the Wimp recently sold most of his position because "growth" will not be as strong for Xin. A stock that sells for 2x earnings , has a 5% divididend and buys back its shares does not need a lot of growth. This stock remains DEEPLY undervalued. I advocated selling some shares on the recent rally. I bought more when it went down to 3.20. I will buy more if it hits 3. My sell price for 10% of my shares is 3.75. The smart way to trade is to have a core position and add on dips and sell on rallies.
PE of 8 is currently too high for a chinese company. Most of the Chinese companies trade with a PE ratio of 4 or less. With a PE of 4, XIN would then trade at 1.60, assuming they make 40 cents next year.