I would answer this way. Oppo is a very respectable company that, mostly through direct sales, operates on a relatively small retail mark-up. Given that and the fact that as they go from a 103 to a 105 they ditch the 103 analog board, I would guess they have about a retail $1000/unit to spend in China building the 105 analog board. The question was for me, how much quality can good engineers get out of spending that kind of money in China? The proof is in the listening if you have a system capable of taking advantage. I sold my DAC which essentially made up for the price difference, and I am very pleased.