These companies deserve a re-evaluation, a deep look into vulnerabilities, virtues, and value. First, we must take a considerable detour and fully examine a vulnerability that applies to almost all these stocks. For all of the above but BYD or Haidilao, the actual shares bought by investors are shares of a Cayman Islands shell company with no operations. That shell company is the first link in a chain that ends in a Chinese Variable Interest Entity (VIE) structure designed to skirt China’s law against foreign ownership in certain media and technology industries.