In the last conference call they already said that they are starting 5 or so new projects and many costs are front-loaded, especially land cost, new office, new crews.
As long as they keep the dividends coming to shareholders, the share price has support.
You can only see the book value but can not realize it in most cases. dividend is better but also useless when market is trending down. Right now no one like China real estate industry stocks.
For this stock, "today is bad, tomorrow is terrible, the day after tomorrow will be great, but most guys will die at tomorrow night".
The class action period is from 2009 - 2014, most of the time the price is lower than the current price. The lawsuit has no merit.
I was convinced by news and research that VALE will break down below12.5 but it keep rising. Amazing. Never believe what you read.
In general China real estate is in a stage of adjustment and retreat. It could be a bubble bust or slowly adjustment. In general prices are still steady or slightly lower, depending on the region. Real estate industry is in consolidation stage. Bigger companies will become even bigger and smaller companies will disappear or merged into bigger rivals. XIN management apparently knows they have to emerge from a middle-tier player to become a bigger player. It is a tough play as right now it is not easy to sell homes in the current market condition. Fortunately they have carefully selected their project locations. I don't expect they can maintain their profit margin, but they will achieve their revenue goal. After this wave of retreat, the number of real estate builders in China will shrink a lot and the bubble will deflate. Only the financially strong company can survive.
On their website, there are links for Australia, New Zealand, Malaysia, Singapore, but no projects yet. Only US website has project of New York and Irvine. Just wonder why they put those nations on the website.
For Vale's investors: In Jack Ma's words "today will be cruel, tomorrow will be calamitous, the day after tomorrow will be sweet, but most people will die tomorrow night."
Let's see who will be killed first in the "take no prisoner" game of iron ore market share game. All big three are increasing IO output while China's IO need is reducing. Investors will suffer the most.
It is useless to sell. Consider it is a loss. The company can only recover share price by starting dividends.
 If they decide not to go back to US market, they can just ignore US shareholders. Wait for a few years, the share price will be 0.1 cents.
 If they decide to go back to US capital market, they'll need to issue financial statements and start dividends.
The SA author also had an article dated 2011 to claim CXDC as a fraud. The complex corporate structure of CXDC is to take advantage of China government policy to encourage foreign investment, China offer tax incentive to companies in economy zone and foreign companies investing in China. CXDC set up its corporate structure as a foreign company, therefore its financial statements filed to China and US show discrepancy in tax and incomes.
Go to company site and find the corporate presentation produced in 2013, very detailed. It also mentioned that CXDC and Kaifa market shares are almost neck to neck, occupying the1 & 2 position in the top 10 manufactures of plastics in China. The SeekingAlpha article used Kaifa to denounce CXDC and claimed CXDC a fraud, I suspect that the author of SA is either a short or related to Kaifa.
Zhu is no longer with the company. Dividends is the only way to convince US shareholders that financial statements are not fake.