This morning, another Chinese reverse-merger firm – Fushi Copperweld (FSIN) – received a going-private offer from its CEO and a private equity firm backed by Morgan Stanley. The details of the offer are very similar to Harbin Electric’s as are its expected effects upon long-term shareholders. If the transaction goes through, another promising investment will be plucked from the portfolios of American investors at a shockingly low valuation – only to be likely flipped for dramatically more. The flight of quality Chinese companies from US exchanges continues.