Yunnan Germanium (002428.SZ) has stopped selling products to FYME Metal Exchange since October 2012, the germanium producer said in an announcement released on Monday night.
FYME Metal Exchange, known as the largest rare metal exchange in the world, is struggling in a cashing storm. It announced restructuring and suspending selling of finance products after a capital chain rupture occurred in August 2015.
Yunnan Germanium said FYME Metal Exchange started purchasing smelted germanium from it in July 2011. In consideration of long-term operation and development, Yunnan Germanium has stopped selling goods to the exchange since October 2012, the company said in the announcement.
Though Yunnan Germanium chairman Bao Wendong attended the three-year anniversary workshop held by FYME Metal Exchange in April 2014, he only made oral congratulations.
"Bao Wendong did not speak of anything with material meaning and did not authorize any recording or reporting on his statement at the workshop," the note added.
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