10:32 am post by someone ...23 Jun 2017 12:24
WelshWalker
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RE: 10 million contractToday 10:32LONDON (Alliance News) - Halosource Inc shares more than doubled in price on Wednesday after the global clean water technology company secured a contract from Shanghai JiuBan Industrial Co to distribute a new line-up of filtering water pitchers and bottles. Halosource shares spurt upward like a fountain on the news and were trading at 2.35 pence per share on Wednesday morning, having closed at 1.05 pence on Tuesday. Halosource will distribute a new line-up of filtering water pitchers and bottles under its new 'astrea' brand through the e-commerce channel in China. The five year exclusive deal for the e-commerce channel in China calls for JiuBan to purchase 360,000 pitchers and over 1 million replacement cartridges representing over USD10 million of revenue in the first three years alone. The minimum volumes for the fourth and fifth year have yet to be determined. The deal is significant as Halosource generated only USD1.4 million in revenue in the first half of 2016, and that had fallen considerably from USD2.7 million the year before. In 2015, annual revenue amounted to USD13.9 million. "The astrea line-up of bottles and pitchers will offer both disinfection and heavy metal removal benefits, one-of-a kind features in the Chinese market for portable and on-the-go drinking water devices," said the company. "JiuBan was founded in 2012 and is an agent for top global brands in China. Their line-up of distributed products includes household appliances and consumer electronics, including air purifiers, mobile phones, TVs, air conditioners, refrigerators, washing machines, digital cameras, and laptops, with distribution on e-commerce platforms such as JingDong, TaoBao, Amazon and Yihaodian, as well as traditional retailers like Gome and Yongle," the company added. The new astrea branded products will utilize HaloSource's patented HaloPure disinfection and heavy-metal removal technologies to ensure that water is "safe to drink and tastes great".
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