If the Chinese subsidiary can simply be taken over by the China based shareholders with nil consideration then there may be a legal case coming to try to take it back. If thats not possible, then the ASX and the auditors will have to explain how we ever had beneficial ownership of the assets in the first place.
The Chinese authorities don't care less about Australian shareholders being ripped off. They will not cooperate under any circumstance. Anyone who goes to go to China to investigate risks ending up in prison on espionage charges. That is the reality. Wishful thinking won't help.
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