I am also on the sidelines. My main concerns are the daigou...

I am also on the sidelines. My main concerns are the daigou channels and China influence.

I think the daigous will remain suppressed until the international students and tourists return which I reckon this will not happen until second half this year or even later. In the meantime, the consumers in China and other major markets are likely to have found a replacement product which might dent the relevance of the A2M brand locally.

I suspect there may be further downgrades in earnings in the next Quarter. The incorrect forecast made by the management also did not help my confidence. Having said that, the financials are exemplary.

$8 to $9 would be my target between now and mid year.