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I suppose at this point it's all predicated on an "inevitable" turn around (e.g. diagou channel regenerating post-pandemic) - hence accumulating in this price range is a good set up for the eventual move up when the fundamentals shift.

That said, an improvement in the fundamentals is one thing - a return to the growth seen pre-pandemic is another matter entirely. My key concerns are:

- first mover advantage diminishing with time as larger producers increase their footprint in the A2 market.
- local Chinese companies having increased their market share / gained consumer loyalty over this protracted period.
- keeping prices at premium in light of the above two concerns.
- diagou channel being adversely effected by geopolitical factors.