Chinese ADR Delistings

Will it happen?

We all know US-listed Chinese companies operate in a manner that none of their Western or other advanced market similars can; look at Luckin Coffee or GSX for recent scandals. As observing the primary market from the sell-side secondary, it seems these massive Chinese companies can list on US, with opaque inflated numbers and pull massive over subscriptions on their listings. These companies can and are running Enron-esque schemes and selling them on the US markets. Is there an issue in this, or is ignorant laissez-faire is the way? I understand the allure of the massive Chinese population and seemingly endless growth numbers (no longer being forecasted by the Party), but how can any of this be trusted?

If/when the mass delisting begins, is it fair to say PE is going to make a killing?

Anyone with any direct deal experience on one of these listings have any insight to share?

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Chinese ADR Delistings

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