$中国陶瓷(CCCL)$ 年报终于出来了。This is encouraging news. I read through the annual report, and I can tell that the CEO has been trying his best to keep CCCL listed. The biggest surprise was the huge loss from the currency betting (not loan guarantee as some of us suspected). But he was willing to assume the big loss personally in order to keep CCCL clean. I have to praise him for his action, even though it started wrong in the first place. The currency market is like a shark - it can swallow you in no time! I think the company also answered other concerns well, including the tricky tax question. The loss from the fourth quarter is just minimum - about 10 cents, which is better than I expected because no asset writedown was necessary. This was a pleasant surprise. I think the stock may still take a hit initially after relisted, but eventually it will rebound. I'll hold on to it.