Been a long term holder and still believe in the fundamentals here. A black swan event has smashed the business, and it would appear that in the next 3-12 months, the stress on their diagou channels will start defrosting.
In the interim, and with the new CEO on board, I think it is pivotal that the company begins to allocate the huge cash pile they're sitting on to further stimulate growth. Whether it is an acquisition or further investment in e-commerce channels in China, something needs to be done pro-actively to get this business going again. Conservatism and hope will only get you so far.
My decision on sticking around will purely be based on whether in the next 3-6 months that start to aggressively deploy the capital they have on hand.
Ann: 1H21 Results Presentation, page-183
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