Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.19.3
Concentrations
9 Months Ended
Sep. 30, 2019
Risks and Uncertainties [Abstract]  
CONCENTRATIONS

NOTE 18 – CONCENTRATIONS

 

Customers

 

The following table sets forth information as to each customer that accounted for 10% or more of the Company's revenues for the three and nine months ended September 30, 2019 and 2018.

 

    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
Customer   2019     2018     2019     2018  
A (Beijing Daopei, a related party)     *       17 %     *       18 %
B (Hebei Daopei, a related party)     28 %     *       15 %     *  
C     21 %     19 %     23 %     20 %
D     14 %     13 %     15 %     13 %
E     11 %     10 %     12 %     11 %

 

* Less than 10%

 

Two customers, whose outstanding receivable accounted for 10% or more of the Company's total outstanding accounts receivable and accounts receivable – related party and tenants receivable at September 30, 2019, accounted for 82.1% of the Company's total outstanding accounts receivable and accounts receivable – related party and tenants receivable at September 30, 2019.

 

Two customers, whose outstanding receivable accounted for 10% or more of the Company's total outstanding accounts receivable and accounts receivable – related party and tenants receivable at December 31, 2018, accounted for 56.0% of the Company's total outstanding accounts receivable and accounts receivable – related party and tenants receivable at December 31, 2018.

 

Suppliers

 

No supplier accounted for 10% or more of the Company's purchase during the three and nine months ended September 30, 2019 and 2018.

 

One supplier, whose outstanding payable accounted for 10% or more of the Company's total outstanding accounts payable at September 30, 2019, accounted for 87.9% of the Company's total outstanding accounts payable at September 30, 2019.

 

One supplier, whose outstanding payable accounted for 10% or more of the Company's total outstanding accounts payable at December 31, 2018, accounted for 95.5% of the Company's total outstanding accounts payable at December 31, 2018.