Shareholder's Right Doesn't the company have a Sahreholder Right Policy that indicates that on one can own more than 20% of the issued shares? I believe under that, Fu can only purchase another 0.1% of the company. But the contract had to be renewed at this year's Annual Meeting. Not sure if that was done or not.
But as neutral bystander, it was a shady move by the new management to give the Chairman increased control only after a few days of taking control of the company.