SIAF Customers:
Customer A is Shanghai Vigor Trading Co. Ltd. (Vigor) who sells much of the imported beef and seafood as well as locally produced seafood. During 2016, the Company sold $76,578,139 of goods to Vigor representing 18.94% of our total sales of goods revenue of $404,348,515.
Customer B is one of our main agents, namely Mr. Xian Zhiming (Zhongshan new prawn farm) who we agreed to extend trading terms between 120 days to 180 days in the interim until such time as they are able to secure bridge financing.
Customer C is Tri-way Industries through our divestment when Triway became our “Investment of Associate.” However, the amount of $44.2 million shown above will be fully paid when Triway will have issued shares to offset said amount targeting within March or April 2017.
Customer D is Cattle Wholesale, represented by Mr. Zhen Runchi, who buys our fattened cattle to sell them in the Guangdong and Beijing cattle markets and at the same time supplies to us with young cattle. The fiscal year 2016, transactions through Mr. Zhen Runchi generated 9.58% of our total consolidated revenue (equivalent to $38,720,557 out of our total revenue of $404,348,515).
