Tongtuo store closure data exposed: Amazon freezes 10.98 million yuan (Briefing)

Recently, Huading shares revealed that

Tongtuo failed to meet its performance commitments for two consecutive years from 2018 to 2019.

At the same time, it also exposed that in recent years,

Accounts closed by Amazon and the amount involved,

According to official data,

Most of Tongtuo Technology’s store closures occurred in 2016

This accounts for 70.59% of the closed stores.

This accounts for 95.4% of the total amount of store closures.

In 2017, three stores were closed.

Only one store was closed in 2018.

As of December 2019, Tongtuo Technology's net revenue was RMB 647.21 million.

The closed Amazon stores involved a net receivable of RMB 2.1969 million.

Accounts receivable 0.34%

After the above Amazon account was closed,

The company has been in frequent contact with Amazon through emails and phone calls.

We hired a professional lawyer for consultation

The company has received RMB 2.153 million in repayments from Amazon, and currently RMB 10.9846 million is still to be collected.