Glen Bradford offers some clarity on the JADA story, per conversations with the company:
In January 2008, the Company transferred its ownership in its woodcarving operations, which had been its sole business operation, and agreed to pay RMB 60 million (at that time, approximately $8.8 million) to XiKai Mining. In return, the Company received the Exclusive Jade Distribution Rights, which enable it to purchase 90 percent of the raw jade produced by XiKai’s SheTai mine at a fixed price for five years, subject to adjustment every five years thereafter.
The company poinst out that the referenced information used by the author of this article is from a personal blog where anyone can put anything on it without taking responsibility. The blog is not about them.