Hong Kong IPO disclosure precedents · 231 companies, 231 items
Holdings of bank wealth-management products, structured deposits and certificates of deposit measured at FVTPL as cash management, including balance levels and period-on-period fluctuations.
We purchase wealth management products as a supplemental approach to improve utilization of our cash on hand on a short-term basis.
Financial Information · p. 428
we only purchase low-risk wealth management products issued by qualified financial institutions, and in any given period, we invest in products provided by multiple issuers to mitigate concentration risks;
During the Track Record Period, our financial assets measured at fair value through profit or loss mainly represented the investment in certain wealth management products issued by reputable financial institutions in the PRC. We recorded RMB7.7 million, RMB124.1 million and RMB34.8 million as of December 31, 2021, 2022 and 2023, respectively.
Financial Information · p. 466
We have estimated the fair value of other investment in equity securities purchased by us by using a valuation model for which not all inputs are observable and is within Level 3 of the fair value hierarchy.
Financial Information · p. 468
Our Directors are satisfied with the valuation work for financial instruments categorized within Level 3 of fair value measurement in our Historical Financial Information as referred to in Appendix I to this prospectus.
Our financial assets at FVTPL increased from RMB387.7 million as of December 31, 2021 to RMB772.8 million as of December 31, 2022, and further to RMB1,391.6 million as of December 31, 2023, primarily because we increased our investments in financial instruments with improved cash position.
Financial Information · p. 323
During the Track Record Period, the wealth management products underlying our financial instruments primarily comprised bonds, generally with an average expected return of approximately 1.5% to 3.1% per year and an average return on investment of approximately 3.68%, 3.24% and
Financial Information · p. 323
We primarily invest in relatively low-risk wealth management products.
During the Track Record Period, we purchased wealth management products, which are classified as financial assets measured at FVTPL.
Financial Information · p. 489
Based on the above procedures and the professional advice received, our Directors are of the view that the valuation analysis performed on level 3 financial assets at FVTPL is fair and reasonable and the financial statements of our Group are properly prepared.
Financial Information · p. 489
Having considered the work done by the management and the reporting accountants, and the relevant due diligence done as stated above, nothing material has come to the Sole Sponsor’s attention that indicates that the Company’s management have not undertaken independent and sufficient investigation and due diligence on such level 3 financial assets and liabilities.
Financial assets at fair value through profit or loss primarily include investments in current assets, which are our investments in wealth management products issued by major reputable commercial banks, namely China Construction Bank and Bank of Ningbo.
Financial Information · p. 305
Our financial assets at fair value through profit or loss subsequently increased to RMB337.9 million as of December 31, 2022, primarily due to an increase in the investment of wealth management products in 2022 in light of the proceeds we received from the financing activities.
Financial Information · p. 307
Based on the above procedures, our Directors are of the view that the valuation analysis is fair and reasonable, and our financial statements are properly prepared.
We purchased wealth management products of RMB305.0 million in FY2020, which included mainly 8 structured wealth management products issued by commercial banks in China with the product income linked to SHIBOR.
Financial Information · p. 500
Currently, we do not intend to invest in any wealth management products after the Listing.
Financial Information · p. 501
Our financial assets at fair value through other comprehensive income remained stable at RMB4.0 million as of December 31, 2020 and RMB4.0 million as of December 31, 2021, primarily due to the investments in two companies with an aggregate amount of RMB11.0 million during FY2021, partially offset by the (i) decrease in fair value of RMB7.0 million resulting from decrease in business enterprise value for a company engaged in AI education in relation to sports, mainly due to the valuation; and (ii) disposal of the investment in a company with a cost of RMB4.0 million.
The financial assets at fair value through profit or loss as at 31 December 2020, 2021 and 2022 represented contracts of principal guaranteed structured deposits and wealth management products with banks in the PRC which are presented as current assets since their maturities are within 12 months from the end of the reporting period based on the contract terms.
Financial Information · p. 408
We have adopted investment policies to govern our Group’s investment activities, reduce investment risks and improve our Group’s financial position.
As of December 31, 2020, 2021 and 2022 and June 30, 2023, the unlisted investments amounting to RMB50.5 million, nil, RMB15.0 million and RMB115.5 million, respectively, were pledged for issuance of bills payables.
Financial Information · p. 391
We form our portfolio of wealth management products with the view of achieving (i) a relatively low level of risk, (ii) good liquidity and (iii) an enhanced yield.
Financial Information · p. 391
After Listing, we intend to continue our investments in the wealth management products strictly in accordance with our internal policies and measures and the requirements under Chapter 14 of the Listing Rules.
Our financial assets at fair value through profit or loss are primarily comprised of wealth management products issued by commercial banks and financial institutions in China and unlisted equity investments.
Financial Information · p. 395
Our financial assets at fair value through profit or loss decreased from RMB655.2 million as of 31 December 2020 to RMB51.8 million as of 31 December 2021 due to a decrease in our structured deposits purchased in order to maintain a sufficient working capital despite adverse market conditions.
Financial Information · p. 395
We only purchase wealth management products offered by licensed financial institutions.
We had financial assets at FVTPL of RMB400.0 million as of December 31, 2022, representing our wealth management products with a bank with a maturity term of within 12 months.
Financial Information · p. 338
Investment decisions on wealth management products must be approved by our chief financial officer.
We invest our surplus cash in wealth management products, (namely, structured deposits), which are short-term (namely, no more than three months) financial products issued by reputable commercial banks in China.
Financial Information · p. 323
To control risk exposure, we seek low-risk financial products with terms no longer than six months and monitor their performance regularly.
As of December 31, 2019, 2020, 2021, 2022 and June 30, 2023, our investments in wealth management products amounted to RMB336.9 million, RMB132.1 million, nil, nil and nil, respectively.
Financial Information · p. 464
Pursuant to our internal policies, the wealth management products invested by us shall typically be limited to those with low risks and high liquidity offered by large scale, reputable and licensed banks.
Financial Information · p. 463
Our level 3 financial instruments included investments in wealth management products and unlisted equity securities measured at fair value through profit or loss.
As of December 31, 2020, 2021 and 2022 and April 30, 2023, our financial assets at fair value through profit or loss amounted to RMB63.6 million, RMB428.0 million, RMB533.6 million and RMB581.9 million, respectively.
Financial Information · p. 388
We regularly invested in certificate of deposits and, to a lesser extent, purchased short-term wealth management products and structured deposits during the Track Record Period to improve the return on idle cash and bank balances.
Financial Information · p. 389
According to our internal policies, risk-free deposits are our preferred investment targets and we are also allowed to invest in low-risk financial products issued by reputable commercial banks in mainland China.
Our wealth management products increased from RMB174.4 million as of December 31, 2020 to RMB2,535.8 million as of December 31, 2021, primarily due to our increased purchase of wealth management products and the increased fair value of our purchased wealth management products.
Financial Information · p. 353
The increase was mainly attributable to an increase in our fair value changes on financial assets at fair value through profit or loss through wealth management products from RMB12.5 million in 2020 to RMB85.6 million in 2021, primarily due to our increased purchase of wealth management products using the Series D financing proceeds we received in 2021 and the increased fair value of such products.
Financial Information · p. 345
Based on the aforesaid procedures, the Directors are of the view that the valuation analysis is fair and reasonable, and our financial statements are properly prepared.
We purchase wealth management products with our cash on hand. These products were issued by a large reputable commercial bank in China.
Financial Information · p. 403
Our wealth management investments were measured at fair value through profit or loss during the Track Record Period. The fair value of our wealth management investments are based on management judgment and are within Level 3 of the fair value hierarchy, and we recognize changes in such fair values through profit or loss.
Financial Information · p. 403
In addition, the balance of Level 3 wealth management products as of March 31, 2023 was nil.
Our investments in wealth management products amounted to RMB680.3 million as of April 30, 2023, with maturity typically less than one year.
Financial Information · p. 412
Our investments in listed equity amounted to RMB597.6 million as of April 30, 2023, mainly including our investments in various companies listed on the Stock Exchange.
Financial Information · p. 412
Our investment strategy related to financial products focuses on minimizing the financial risks by reasonably and conservatively matching the maturities or disposals of the portfolio to anticipated operating cash needs, while generating desirable investment returns for the benefits of our shareholders.
Our financial assets at fair value through profit or loss primarily represent wealth management products issued by commercial banks.
Financial Information · p. 429
We primarily invest in wealth management products issued by major commercial banks in China with low risks and a short-to mid-term of no more than one year.
Financial Information · p. 429
During the Track Record Period, the structured deposits and other wealth management products we purchased did not have material decline in market value.
Our structured deposits were principal guaranteed with an expected yield of 2.70% per annum as of April 30, 2023.
Financial Information · p. 388
Under our treasury management guidelines, we limited our purchases to principal-guaranteed and low risk products from reputable financial institutions which must not affect our daily operation and business prospects.
Our financial assets at fair value through profit or loss primarily consist of wealth management products we purchased to improve returns on our excess liquidity.
Financial Information · p. 313
Our investment strategy related to wealth management products focuses on minimizing the financial risks by reasonably and conservatively matching the maturities of the portfolio to anticipated operating cash needs, while generating desirable investment returns for the benefits of our Shareholders.
During the year ended December 31, 2021, we acquired financial assets at FVPL in the amount of RMB80.0 million.
Financial Information · p. 421
During the year ended December 31, 2021, we recorded other gain from the change in fair value of financial assets at FVPL of RMB435,000.
Financial Information · p. 421
As part of our treasury management policy, we have purchased wealth management products as a mean to better utilize of our cash on hand on a short-term basis.