Well someone had to do it, page-73

I agree with AllFuelledUp that you are not correct in saying this. There are many growth companies on the ASX that do not pay divs or if they do, they pay very small ones. We expect those companies to use the retained earnings to grow the business and to create a higher eps, in which case the share price will appreciate.
The massive drop in value of a number of Chinese companies on the ASX with PEs in the range of 2 to 4 shows a severe loss in confidence by investors in those companies. The Chinese shareholders suffer the valuation loss as much as any others.
The loss of confidence could be because the market expects the earnings to fall heavily (which I think is the case with DXF) or investors distrust the management and do not believe the story being given (or lack of it, i.e. lack of transparency).