I think it is a well structured statement addressing what many...

I think it is a well structured statement addressing what many see are the key concerns with the company.

We all know the risk to any business with reliance on one large customer. Or one major supplier. Diversification is a sensible strategy and they are telling shareholders they are aware of the issue and are working towards a better mix.
Having said that, China IS a massive market and cheap source of input materials and production capability, so it's no disaster for the actual success of their China strategy to create such a large reliance on one country.
The international projects in the release are evidence that this technology does work and has global applications. These opportunities can be more aggressively chased with capital raised recently.

I get why the share price is here. Not happy about it but unless something goes completely off the rails in China would expect a strong recovery.