join us for a class action

First, some facts:

* Star combo does not own the factory and land at its main site. It leases from an entity wholly owned by its managing director Jinxing Zhang.

* Star combo pays about $300,000 rental fees to Jinxing Zhang each year for the factory.

* Star combo pays about $200,000 salary to Jinxing Zhang and about $200,000 salary to Jinxing Zhang’s daughter Su Zhang each year.

* Star combo paid $8m fundraising fees to GF Capital for the $33m fund raised in 2020

* Austoyou and Koala Mall had revenue of about $17m in 2018 when it was bought by star combo, and only $3.9m left in 2023 after 5 years of operation by star combo.

* Star combo has an investor Lepu which is the largest medical device company in China, but has very little international sales, actually declining sales in austoyou, in China.

* $4.4m of a total of $15m plant was destroyed by a fire in 2022, and only disclosed 1 year later in the annual report of 2023.

* its Chongqing business in China was closed down in 2022, and only disclosed a long time later.

Conclusions:

* a lot of the tiny profit of this company actually goes to Jinxing Zhang each year, and it will never be profitable because it is not designed to be profitable. Cash balance will keep reducing each year, followed by a shutdown.

* star combo has little sales to China, though it has several board members from large Chinese companies. It is either star combo is incapable, or its two strategic investors are incapable. The former is more likely.

* it often hides or not disclose negative information such as the actual loss on fire, what austoyou actually does, and even the fact the factory is owned by Jinxing Zhang personally.

* this company will never be acquired, because it not only not owns the land and factory, but also pays leasing fees each year.

* this company is a fraud.

* sell, or run, now, when you still can.

I want to lodge a class action against this company for its information disclosure breaches. Please join us by replying below.