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Yesterday, Yunnan Germanium Industry issued an announcement stating that the recent Pan-Asia financial scam reported by the media mentioned matters related to the sale of germanium products by Yunnan Germanium Industry to the Pan-Asia Nonferrous Metals Exchange. Yunnan Germanium Industry stated that the Pan-Asia Nonferrous Metals Exchange opened in March 2018 and purchased regional fused germanium products from the company in January 2019. The company began to sell regional fused germanium products to Pan Asia. However, in 2008, considering the company's long-term operation and development, the company stopped selling products to Pan Asia. During the transaction, Yunnan Germanium Industry issued a sales invoice to Pan Asia and received the payment from Pan Asia on schedule. In the process of Pan Asia purchasing products from Yunnan Germanium Industry, there was no situation where the company did not sell the goods. In addition, Yunnan Germanium Industry also stated that in March, Pan Asia held a customer seminar on the third anniversary of the opening of the market. The company's chairman Bao Wendong was invited to attend the meeting and gave an oral speech to congratulate Pan Asia. However, Yunnan Germanium Industry stated that Bao Wendong’s speech did not have any substantive significance, and it did not authorize or entrust others to compile or report in writing.
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