The board is delighted to announce another significant increase in revenue for the December quarter over those of September, June and March. Sales for the quarter were just above $2.5 million due to increased activity in our DAIGOU sector. We expect this strength to continue, assisted by more significant Chinese ‘consumer days’ to come, including Lunar New Year.
We note that a number of Australian exporters offer single products, such as milk powder, or target single markets, such as personnel care products. Clearly this narrow approach exposes those companies to fragility in earnings.
JAT has adopted a broader portfolio approach, exporting a wide range of products in different markets. This provides a measure of protection from fluctuations in consumer likes and dislikes. We seek exclusive markets and products that we believe offer long term potential.
The Company advises that, members unanimously approved all the resolutions set out in the Notice of Meeting on a show of hands at the Annual General Meeting held today, 30th November 2016, as follows:
Results of AGM
Jatenergy is very proud to have had the opportunity to participate in Single’s Day sales activities with our local suppliers, our Chinese partners and logistics teams. Jatenergy had gross sales of over $2 million of Australian products including dairy products and health supplements.
“It is great news for our suppliers and distributors”, says Wilton Yao director of Jatenergy. “We thank our local suppliers for their products and participation in the great event.”
Mr Wilton Yao
Our successful participation in “Singles Day” gives confidence for sales in the upcoming Christmas and Chinese New Year period.
Jatenergy has been trading into China for the past 18 months and is continuing to increase its sales quarter by quarter. Wilton Yao sees more business for Australian companies as China welcomes its high- quality products and regards Australian production as safe and clean. “It is important that we market product that is wanted by the Chinese market and we bring product into China through the proper and legal channels. It is the reputation of our Company and our suppliers that is important, with it you gain trust and get more opportunity to sell product”.
Singles day is regarded as the biggest one day sale and within the first five minutes of the sale Alibaba posted over US$1 billion dollars in sales, with a final figure expected to be approximately US$17.6 billion for Alibaba alone. Mr Yao said “It is expected that Alibaba will break another Singles Day sales record this year. Chinese consumers are spending big and continue to regardless.” The Singles Day was invented by students in China as a counter to Valentine’s day. The joke day is now regarded as the target day for Australian manufactures selling into China. Pioneered by Alibaba in 2009 and since replicated by rivals including JD.com, Singles Day has become somewhat of a barometer of Chinese consumer sentiment.
The Annual General Meeting of the Shareholders of Jatenergy Limited will be held at 10.00am (AEST) on Wednesday, 30 November 2016, at the offices of Hall Chadwick, Level 40, 2 Park Street, Sydney, New South Wales, as follows:
Notice of Annual General Meeting/Proxy Form
September 2016 quarter FMCG revenue — $1,780,000
Mr Tony Crimmins
“Investors will be pleased to note that sales invoiced for the quarter were just under $2 million due to increased activity in our DAIGOU(*) sector,” Executive Chairman Mr Tony Crimmins said. “JAT continues to seek products and brands that pass Chinese CIQ standards which is paramount in ensuring legal exportation of product to the satisfaction of Chinese regulations.”
The company remains committed to assist all Australia food, cosmetic and nutraceutical producers fair access to the Chinese market. JAT will continue to focus on products that sell well in Australia and adhere to Australian Product Standards.
The company has a number of high line distributors in China seeking Australian product which demand good and safe product for sale to the Chinese consumer.
(*) Daigou (Chinese: 代购 dàigòu also 海外代购 hǎiwài dàigòu) is a channel of commerce in which a Chinese personoverseas purchases luxury goods for a customer in mainland China. The phrase means `buying on behalf of`.
The Board of Jatenergy Limited (JAT) are pleased to announce that it is in the process of finalising the setup of Henan JAT Trading Co., Ltd (Henan JAT) located in Henan China.
Henan JAT is a fully owned subsidiary company of Jatenergy Limited and is focused on expanding Jat’s presence in China.
Jat remains committed to the energy market reviewing opportunities in China for energy resources, conversion technologies, energy storage and energy efficiency products. JAT has identified opportunities to generate cash through the use of the Jatenergy name and trademark. This has been applied to a range of newly designed products such as lithium battery storage and LED related products for outdoor/indoor advertising and architectural settings.
June 2016 quarter FMCG revenue — $262,000
Mr Tony Crimmins
Directors are pleased to announce the addition of nuts and dried fruit to the export portfolio. JAT Fast Moving Commodity Goods now include;
- milk products
- nuts and dried fruit
“The export business is starting to pick up steam,” Executive Chairman Tony Crimmins said. “We expect to keep adding more products and to ship larger volumes in the near future.”
March quarter FMCG revenue — $143,000
During the quarter JAT continued to develop its Fast Moving Commodity Goods range, adding cereals to the product portfolio.
“We’re just getting started,” Executive Chairman Tony Crimmins said. “More products will be added in coming months.”
December quarter revenue at $186,000
Shareholders will be pleased to note that, as anticipated, Jatenergy Limited’s (Jat) December quarter 4C shows revenue of $186,000, substantially increased from the September quarter (the first quarter of export trading revenues) of $18,000.
This increase reflects the company’s growing Fast Moving Commodity Consumer Goods sales, specifically the exporting of Australian milk and health products to China.