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CONCENTRATIONS

12 Months Ended

Jun. 30, 2016

Concentration Risk Disclosure [Text Block]

NOTE 18. CONCENTRATIONS

For the years ended June 30, 2015 and 2016, the two largest customers, China National Petroleum Corporation (“CNPC”) and China Petroleum & Chemical Corporation Limited (“SINOPEC”), represented approximately 43.09%, 6.82% and 75.36%, 8.85% of the Company’s revenue, respectively.

For the year ended June 30, 2015, one major supplier accounted for 18% of the company’s total purchases. For the year ended June 30, 2016, two major suppliers accounted for 49% of the company’s total purchases.