Ping An Biomedical Co., Ltd. is a Chinese trading company that operates through subsidiaries to distribute yarns and finished garment products domestically and internationally, with yarns accounting for the vast majority of revenues. The company sources and sells these products to a concentrated customer base with significant concentration risk among a small number of counterparties, recognizing revenue upon transfer of control to customers. The business operates as a commodity trader with low gross margins typical of trading operations, generating revenue through direct sales of yarns and finished garments with customers typically paying within 40 to 90 days of delivery.