When you own a share of XPD, or any other Chinese company, you...

When you own a share of XPD, or any other Chinese company, you don't own a proportional share of the business. Think about it: the board couldn't transfer funds from China to Australia to effect a buy back - their application wasn't even responded to. If you can't get money out of the business, you don't own it. If XPD was liquidated, I guarantee shareholders would get zero. There's no way SAFE would let that money out of China, and there'd be noone trying to make it happen.