Shares that deal with Chinese shareholders as majority usually lack transparency and have a lot of regulatory issues
If you look at ASX dfm it has a forecasted NPAT of $82m yet is trading at 4x PER. Also CDC and AHF have the same regulatory issues. I think you might have to throw Bfc in there too unless more transparency starts to come through
Ann: FY16 Full Year Update-BFC.AX, page-100
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