If that's the case then wouldn't that hinder any ability of Poet to negotiate a fair price for SPX since they are being forced to sell part of their share due to govt regulations ?  How much control would they have under such conditions to get a better price. ?

Surely, any valuation would involve Sanan and the SPX board along with POET.  As such, a fair market value would be in all parties interests.  I doubt POET will be negotiating a price outside of a planned listing and clear pricing.

But, it's China and I guess sticking to rules isn't always their MO.