Alas it appears you have forgotten there has been a global pandemic that resulted in many chinese students going back to china and taking their daigou business with them.....
Businesses locally and abroad have failed or seen massive drops in revenue and/or reliance on govt support i.e. jobkeeper etc to keep them afloat..
Yet, A2M's growth has not slowed.
At some point the pandemic will be solved, or at least managed to the extent that it will hardly effect business. Travel restrictions will ease, the students will be back. And daigou will resume their activity. This will only add to the growth we are still achieving without them.
A2M FY20 Results, page-128
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