I'm out, last of my holdings just now sold. The short update just provided on the Hainan plant left me cold. My take is that the whole sorry mess re Hainan plant is a long, long, long way from being fixed and the plant getting commissioned. It all seems mickey mousish. I vaguely recall an announcement a year or more ago that the paperwork regarding operational aspects, etc etc were being finalized and translated for hand-over, and here we still are with trying to fit the pieces of the plant together. I have moved on. The cash burn in admin fees can only end up with one outcome, well two I suppose, either the company goes down the gurgler once the kitty runs dry or a CR. My worst investment ever. Goodbye and good riddance. Thankfully what I have lost I made up for with another stock.
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- Ann: App 4C, Quarterly Activities, Update on Sinopec Hainan Plant
Ann: App 4C, Quarterly Activities, Update on Sinopec Hainan Plant, page-5
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