Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.22.2.2
Concentrations
9 Months Ended
Sep. 30, 2022
Concentrations [Abstract]  
CONCENTRATIONS

NOTE 14 – 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, 2022 and 2021.

 

    Three Months Ended
September 30,
    Nine Months Ended
September 30,
 
Customer   2022     2021     2022     2021  
A (Hebei Daopei, a related party)    
*
      27 %    
*
      12 %
B     32 %     28 %     31 %     29 %
C     19 %     12 %     19 %     16 %
D     12 %     *       12 %     11 %

 

* 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 rent receivable and rent receivable – related party at September 30, 2022, accounted for 82.3% of the Company’s total outstanding rent receivable and rent receivable – related party at September 30, 2022.

 

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 rent receivable and rent receivable – related party at December 31, 2021, accounted for 80.6% of the Company’s total outstanding rent receivable and rent receivable – related party at December 31, 2021.

 

Suppliers

 

No supplier accounted for 10% or more of the Company’s purchase during the three and nine months ended September 30, 2022 and 2021.

 

One supplier, whose outstanding payable accounted for 10% or more of the Company’s total outstanding accounts payable at September 30, 2022, accounted for 100.0% of the Company’s total outstanding accounts payable at September 30, 2022.