Annual report pursuant to Section 13 and 15(d)

Concentrations

v3.22.1
Concentrations
12 Months Ended
Dec. 31, 2021
Risks and Uncertainties [Abstract]  
CONCENTRATIONS

NOTE 15 - 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 years ended December 31, 2021 and 2020.

 

    Years Ended
December 31,
 
Customer   2021     2020  
A (Shanghai Daopei, a related party)    
*
      12 %
B (Hebei Daopei, a related party)     13 %    
*
 
C     28 %     24 %
D     16 %     16 %
E     11 %     12 %

 

* Less than 10%

 

Two customers, of which, one is a related party and the other is a third party, whose outstanding receivable accounted for 10% or more of the Company’s total outstanding accounts receivable, accounts receivable – related party, rent receivable, and rent receivable – related party at December 31, 2021, accounted for 80.6% of the Company’s total outstanding accounts receivable, accounts receivable – related party, rent receivable, and rent receivable – related party at December 31, 2021.

 

Two third party customers, whose outstanding receivable accounted for 10% or more of the Company’s total outstanding accounts receivable, accounts receivable – related party, and rent receivable at December 31, 2020, accounted for 78.3% of the Company’s total outstanding accounts receivable, accounts receivable – related party, and rent receivable at December 31, 2020.

 

Suppliers

 

No supplier accounted for 10% or more of the Company’s purchase during the years ended December 31, 2021 and 2020.

 

One supplier, whose outstanding payable accounted for 10% or more of the Company’s total outstanding accounts payable at December 31, 2020, accounted for 93.6% of the Company’s total outstanding accounts payable at December 31, 2020.