excellent post. my major concern also. I have no answer other...

excellent post.
my major concern also. I have no answer other than to say we are either in despite the risk, or out.
currently I am still in but there had better be some spectacular growth in next few 4Cs to make me comfortable enough to remain a believer.

Sadly, there is a long history of ASX listed Chinese companies with similar dodgy practices, that end up getting de-listed. Though to be fair they are mostly mainland rather than a HK, and do not have such a long history of a successful operation.
this remains a high risk high reward thesis.