Phoslock shows it's possible to do well in China as a small Australian company with no prior presence I think. Phoslock went from several million in sales, and loss making, to ~$40m p/a in sales and ~$20m p/a positive operating cashflow within a couple of years after it set up a chinese subsidiary in Beijin. Share price went from 10c to a recent peak of $1.60.
I've been in and out of EVS in recent years but I'm back in this morning for a gamble. EVS is still high risk, but if they can replicate PET's success in China then this gamble will pay off. I note that EVS's partner is BZHQ, whom Phoslock credits with its rapid China growth and success in winning over Chinese government contracts.
Maybe in China, what it takes to succeed really is 'connections' - in which case EVS must surely stand a decent chance, going by BZHQ's and Mr Zhang's record.
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