Saturday, September 21, 2019 6:22:39 PM
Sales in the three months ended March 31, 2019 increased by $17,572,969 or 337.9%, from $5,220,170 for the three months ended March 31, 2018, to $22,773,139. The increase was mainly due to the fact that we continued to expand our freight logistics segment through continuing co-operations with our major customers. Revenue from the freight logistics segment increased approximately $18.0 million or 503.8% compared to the same period in fiscal year 2018.
During the quarter ended March 31, 2019, we generated approximately $1.0 million in revenue from providing shipping agency services. We transitioned back into the shipping agency business in the second quarter of 2019 since we have an integrated online logistics platform that allows us to handle a wider base of customers in China and ports throughout the world.
On January 1, 2019, the Company signed a shipment service agreement with Chongqing Iron and Steel Company (“Chongqing Iron and Steel”) which engaged the Company to ship one million tons of iron ore and coal to the designated port of Chongqing with service period from January 1, 2019 to December 31, 2019. This business relationship will further enhance and develop our freight logistics business.
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM