Thank you for bringing an article with a complete recount of the series of events in this famous case. This is a good case study for anyone who aspires to jump start a high tech venture.
Many big state owned banks in China engaged in VC like investment w/o any good DD. It is an expensive lesson for all involved.
This might not be the last case...Let's see how yahoo's investment in China with Jack Ma plays out in 2007.
