A2M is still profitable. As long as profit is there they can pursue any strategy they want without impacting the bank balance - whether we agree with the strategy or not is a different issue.
The profit is roughly around 2% of the MC in a pandemic situation. Any invetment house will be on alert - doesn't need to be a T/O by the Chinese. I am thinking US or Japan.
What I dont understand is why can't the existing chinese students continue Daigou operation? It is probably due to my lack of knowledge.
Ann: Trading update and revised FY21 outlook, page-235
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