Confirmation of profit, page-38

They did mention in a New Year's message to shareholders at beginning of year that they intend to list on Nasdaq later this year. At present they only have OTC listing. Probably a bit work to get that over the line as opposed to ASX listing. The listing here would have greatly contributed to the Beijing contract they won at the start of the year.

There's actually nothing suspicious at all about their corporate structure. A lot of companies who want to run operations out of China would setup a HK entity given the 15% tax rate and then potentially have a Chinese subsidiary under that. Australia has double tax agreement with China ironically but not HK so we would only be subject to additional 15% tax through the HK company (Kuayu).

I like the fact the company goes about its business growing its revenues and margins quarter on quarter. At that the end of the day it's the bottom line that we all care about not some glossy presentation from a CEO who promises the world but delivers nothing.

Dividend will be announced at one point so until then, accumulation is not a bad strategy based on the numbers presented. I'm extremely comfortable and continue to accumulate small parcels when I can.