Despite Asia Television Holdings' share price rise, its high P/S ratio and poor growth rate are worrying. If the P/S aligns with the negative growth rates, shareholders may be disappointed. The company's medium-term revenue decline is also concerning compared to the industry's expected 12% growth.

Despite poor financial performance and declining revenue, the company's high P/S ratio indicates investor hope for a business turnaround. However, with the industry's projected 12% growth, the share price may decline further, aligning the P/S ratio with recent negative growth rates.