This morning I sold the balance of my shares in Allan International (HK:684).
This was the smallest position in the portfolio, with a carrying value that was less than the annual dividends on some of my larger positions, and I reached the conclusion that in order to justify the time being spent monitoring the position I needed to put more money into this company. Given the issues with smaller and medium PRC manufacturing businesses generally and the very thin market for the company's shares I decided to sell. Some were sold back in January and the balance today at HK$2.10 per share. Net of dividends and transaction costs I took a loss of 32% on this investment (so it is probably a good thing that it was such a small amount of money).