Adamant Dri Processing And Minerals Group's Customers have recorded an increase in their cost of revenue by 16.85 % in the 3 quarter 2023 year on year, sequentially costs of revenue were trimmed by -8.17 %, for the same period Adamant Dri Processing And Minerals Group
Adamant Dri Processing And Minerals Group's Comment on Sales, Marketing and Customers
China Jinxin
To date, one customer, Handan Steel Group Company (“HSG”), a subsidiary
of Hebei Steel and Iron Company, a state owned enterprise, has accounted for nearly
100% of our sales. China Jinxin has entered into a 10 years contract with HSG
expiring in January 2019 whereby China Jinxin agreed to sell and HSG agreed to
purchase all of the output from our production facility. The price we receive
for our output is determined by HSG in light of market prices and the quality
of our product and is to result in a proper profit margin to us. If China Jinxin
is not satisfied with the price set by HSG it can attempt to renegotiate the price.
China Jinxin has withheld deliveries from HSG since the end of 2011 because of
its dissatisfaction with the price offered by HSG. There is no assurance as to
what recourse China Jinxin would have if the prices set by HSG were unacceptable.
Adamant Dri Processing And Minerals Group’s Comment on Sales, Marketing and Customers
China Jinxin
To date, one customer, Handan Steel Group Company (“HSG”), a subsidiary
of Hebei Steel and Iron Company, a state owned enterprise, has accounted for nearly
100% of our sales. China Jinxin has entered into a 10 years contract with HSG
expiring in January 2019 whereby China Jinxin agreed to sell and HSG agreed to
purchase all of the output from our production facility. The price we receive
for our output is determined by HSG in light of market prices and the quality
of our product and is to result in a proper profit margin to us. If China Jinxin
is not satisfied with the price set by HSG it can attempt to renegotiate the price.
China Jinxin has withheld deliveries from HSG since the end of 2011 because of
its dissatisfaction with the price offered by HSG. There is no assurance as to
what recourse China Jinxin would have if the prices set by HSG were unacceptable.
Sources:
Adamant Dri Processing And Minerals Group’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Adamant Dri Processing And Minerals Group’s corporate clients.
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