As of the Latest Practicable Date, we had cumulatively secured 40 design wins with ten OEMs, either directly or through tier-1 suppliers, and our solutions had been adopted in 16 commercially launched vehicle models across 12 vehicle brands.
Summary · p. 3
As of the same date, we had 24 projects in the customer engagement and solution design stage.
Summary · p. 3
In 2023, 2024 and 2025, our design wins were three, four and 17, among which, our design wins from Geely Related Group were three, nil and seven during the same years, respectively.
For certain sales, such as sales to automotive manufacturers and sales of smart laboratory equipment and software, there is normally a tender process where we are required to submit tender with design proposals for some of our customers' new projects.
Business · p. 137
We had a sustainable tender success rate at 26.7%, 25.4% and 31.2% for FY2023, FY2024 and FY2025, respectively, and we believe that demonstrates our capability to capture new projects and business opportunities.
During the Track Record Period, 11 projects with an aggregate contract value of approximately RMB18.8 million were terminated or cancelled prior to completion.
Business · p. 154
These project cancellations were isolated and case-specific, and did not have a material adverse effect on our operations or financial condition.
In 2022, 2023, 2024 and the nine months ended September 30, 2025, our cancelled orders (as evidenced by a subsequent cancellation agreement) amounted to RMB248.4 million, RMB238.0 million, RMB605.4 million and RMB307.5 million, respectively, accounting for 1.8%, 1.4%, 5.1% and 3.0% of our total revenue for the year or period, respectively.
Financial Information · p. 321
We have not suffered material losses due to cancellation of orders during the Track Record Period, as we have to the extent possible conducted resales to other customers with limited adjustment to our products.
We expect to recognise RMB5.9 million, RMB2.6 million and RMB1.0 million of the backlog amount as at the Latest Practicable Date as revenue by 31 December 2024, 31 December 2025 and after 31 December 2025, respectively.
Business · p. 211
It is important to note that not all of the contracts nor service orders entered into by us and our customers include a specified contract sum or fixed amount for the services to be provided.
For the years ended 31 December 2020, 2021 and 2022 and the four months ended 30 April 2023, we submitted 101, 77, 67 and 8 tenders, and were awarded 78, 60, 53 and 6 projects, respectively.
Business · p. 205
Based on the above, our Directors consider that our overall tendering performance was satisfactory in general during the Track Record Period.
In 2020, 2021 and 2022 and the three months ended March 31, 2023, our tender success rate with local governments to provide cloud hospital platform services was 83%, 83%, 89% and 100%, respectively, and during the same periods, that with medical institutions was 81%, 86%, 97% and 100%, respectively.
Business · p. 294
For cloud hospital platform services, we typically utilize our internal customer resources and designate personnel to source the latest tender and bidding opportunities for obtaining new projects from local governments and hospitals.