No. 4: Aoxing Pharmaceuticals ( AXN) I have a confession to make: I know nothing about Aoxing Pharmaceuticals. While researching this story, I tried to find something that would explain why the Chinese drug maker performed so poorly this year. My best guess is that U.S. investors have no interest in owning a money-losing drug company that operates halfway around the world. This year's implosion of so many Chinese reverse-merger stocks probably didn't help Aoxing much either. The stock: Aoxing is down 91% this year.