First of all, price action seldom reflects fundamentals of most assets in a market dominated by speculation, just look at US stocks and oil. So with regards to Antshares, we'll not see any meaningful profit anytime soon. Maybe someday in 2017, we'll wake up to see the price pop up to a 10x, around 10cny per ANS. But not now, this is still accumulation time for smart money. We just don't know how cheap ANS can be bought with regards to the developments.
See the arrows showing the spikes and the accompanying buy volume? Smart Chinese money accumulating and willing to buy beyond 1.35 CNY/ANS. See how small the sell volume of the recent drop? By the way, Yuanbao is the lead exchange for ANS which behaves differently from BTC pairs since Chinese exchanges pair with fiat and not BTC. The ANS market moves independently from the bitcoin market.
Why the recent drop?
One reason is that a huge 2015 ICO holder got tired of waiting (lack of volume and BTC/CNY is mooning) and decided to dump his half a million ANS in an illiquid market (There were several large sell orders (30,000 ANS) suddenly placed in Yuanbao recently. You could actually see them getting lower and lower. So seeing this, a smart buyer will wait out for cheaper ANS before resuming to accumulate.
Another possible reason is that the Antshares team did another round of ANS distribution without telling us. The last distribution saw the price tanking from 1.57CNY to 0.97CNY.
So, right now is a waiting game on who buys or sells first.