Unbelievable story in China stock market: Bo Jia 5 (400046)

Investor summaryBearish

Chinese company missed profit targets, transferred $19M to related parties undisclosed, and faces no penalties despite tiny market cap.

Bear points

Missed three rounds of profit promises with zero compensation.
$19M transferred to controlling person's related parties without board approval or disclosure.
Controlling person evaded accountability and shareholder meetings with no fines or arrests.

Post body

Let me tell you about a public company that made 3 rounds of profit promises.

Missed all of them.

Paid $0 in compensation.

Then auditors found $19 million moved to the controlling person's related parties. The total market cap of Bo Jia 5 is just around $30M

No board votes.

No disclosures.

Just… transfers.

2026 update: controlling person is no longer a director. Reason given for missing the shareholder meeting? "Traffic issues."

No fines, no arrests, no nothing. Is this just how China’s market works? Or Bo Jia 5 is a special kind of stink bug that nobody wants to step on

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