I have double checked "Guilin Layn Natural Ingredients Corp"...

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tylershao

10 Posts.

02/05/17

22:50

Post #: 24424608
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Originally posted by SA1588 ↑

Customer offers lifeline to struggling Quintis

Quintis is an Australian ASX-listed company that grows sandalwood.
Sandalwood plantation marketing company Quintis, which is under siege by short-selling US hedge fund Glaucus, may have found a replacement for a key Chinese customer.
Graeme Scott, a Quintis shareholder, has formed a joint venture with Shenzhen-listed Layn Natural Ingredients to buy 150 tonnes a year of sandalwood for the Chinese market.
Last month, Quintis, formerly known as TFS, was forced to reveal its biggest customer, Shanghai Richer Link, had failed to place an order so far this year after Glaucus criticised the Chinese company as insubstantial in a scathing research report.
Shanghai Richer Link agreed last year to buy 150 tonnes a year of sandalwood a year for five years, but has placed and paid for only one shipment.
Quintis stock tumbled following publication of the Glaucus report on March 22, dipping as much as 20 per cent during the day. The stock remains heavily shorted.
In a statement to the Shenzhen Stock Exchange on Thursday, Layn, which makes herbal extracts for the food and healthcare industries, said it had entered into a 50-50 joint venture with Mr Scott to be named Shanghai Authentic Sandalwood Co.
Under the terms of the agreement, each side is to contribute $4 million to fund the company.

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I have double checked "Guilin Layn Natural Ingredients Corp" website. and find it in 27th April 2017 announcements.
【40,000,000 RMB,
and 50% for each other(Australian citizen Graeme Eric Scott and Layn sub company Shanghai "blabla")
time limit is 5 years. 】

Cargill is one of Layn`s customers.

In 2016, revenue from plant extract products is 67536646AUD 22.6% up from 2015. And Gross margin in 2016 is 25.25% compare to 24.2% in 2015

QIN Price at posting: $1.13 Sentiment: Buy Disclosure: Held
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