For our integrated marketing services, we have entered into annual contracts with Customer Group A. For our marketing technology services, we have entered into an eight-year long-term binding contract with Customer Group A.
Business · p. 149
As such, our Directors believe the established integration of our solutions, along with our familiarity with their processes and operational requirements, means it is more practical and cost-effective for Customer Group A to continue utilising our services.
During the Track Record Period, the numbers of modules we sold to Customer F were 271.2 thousand units, 477.1 thousand units, 791.1 thousand units, and 690.9 thousand units.
Business · p. 241
As of the Latest Practicable Date, the design-win had been applied for over six vehicle models of Customer F.
Business · p. 241
However, because our module is custom-developed and deeply integrated into the vehicle’s design, it is generally less feasible for the customer to switch to an alternative supplier for that specific vehicle model post-development.
We are concurrently focused on accumulating high-quality overseas customers and maintaining close collaborations with leading international companies, such as BMW, Volkswagen, ACC, Siemens and Ford.
Business · p. 210
Our framework cooperation agreement with them typically has a term of two years, subject to automatic renewal upon expiration if neither party objects in writing.
Business · p. 210
The customer shall, under equal conditions, prioritize procurement from us and give preference to collaborating with us on significant projects, as well as share information regarding supply chain resources and other resources with us.
In most cases, we serve as one of the ODM partners of our brand customers. For certain product categories, such as smart eyewear, we may currently act as the exclusive ODM partner for the relevant brand customer.
By entering into the DRAM Provision Agreements, the Group and CXMT Group have clarified the modalities and arrangements of their cooperation, and CXMT Group has become a reliable and stable qualified foundry partner of the Group, allowing the Group to focus on the design and sales of its niche DRAM under the fabless business model.
Business · p. 227
- Duration. The DRAM Provision Agreements shall be valid until December 31, 2030, and shall be automatically renewed for successive terms of five years unless either party notifies the other party in writing no later than six months prior to the expiry of the DRAM Provision Agreements.
Business · p. 227
According to Frost & Sullivan, the pricing approach under the DRAM Provision Agreements is in line with the industry norm;
Such agreements may include specified minimum purchase levels over a defined period and may be subject to shortfall charges if the minimums are not met.
Business · p. 302
These terms are generally negotiated based on projected operational requirements and are consistent with market practice;
We have entered into a department consulting service agreement with Supplier G for a term of 10 years.
Business · p. 219
Under such collaboration, we still retain management and ownership of our dentistry department, which does not constitute outsourced management of the department to an Independent Third Party.
In March 1, 2024, we entered into a strategic cooperation agreement with CALB to strengthen our partnership with it and mutual business development.
Business · p. 254
Under the equal conditions, CALB would prioritize providing its strategic partners with project opportunities, while we would prioritize sourcing raw materials from CALB in the circumstances as agreed by both parties.
Business · p. 254
Our Directors confirm that the terms of the agreement with CALB are consistent with industry norms and reflect standard practices within the sector.
Pursuant to the BMS Agreement, on March 7, 2024, we received a non-refundable and non-creditable upfront payment of US$800 million from BMS, which is not subject to any further conditions, and BMS is required to pay up to US$500 million in contingent near-term payments, which payment amounts are adjusted based on when each prescribed milestone is achieved.
Business · p. 424
BMS may terminate the BMS Agreement, in its entirety or on a country-by-country basis, without cause by giving us at least 90 days’ prior written notice, if such termination is before the first commercial sale of the Licensed Product in the U.S. or ROW, or at least 6 months’ prior written notice, if such termination is thereafter, subject to our right to extend the effective date of such termination up to a specified time period.
Business · p. 426
We believe this collaboration allows us to combine resources, expertise and infrastructure to expedite development and commercialization while effectively managing the associated costs and risks.
In accordance with the agreement entered into with Supplier C, we were contractually obligated to procure nickel pellets.
Business · p. 209
However, as global nickel prices continued to decline, we proactively adjusted our inventory management strategy to mitigate potential impairment losses.
Business · p. 209
The revenue from Supplier C in 2024 was RMB454.9 million, with a negative gross profit margin of 2.0%.
Save for three framework agreements for the supply of fluff pulp as disclosed below, we generally do not enter into long-term agreements with our suppliers.
Business · p. 229
We believe that such agreements enable us to secure a stable supply of fluff pulp, which is a key ingredient of our products, at a more competitive price.
Business · p. 229
During the Track Record period and up to the Latest Practicable Date, we were not aware of any material breach of such agreements, nor any circumstance that would affect their enforceability.
Cyantron Group will utilize these leased trucks along with its own fleet to provide container truck transportation services to Sinotrans, as well as third-party logistics customers, giving priority to Sinotrans when conditions are equal.
Business · p. 349
Cyantron Group entered into a transportation services framework agreement (and supplemented by a supplemental agreement dated August 22, 2025) (the "Transportation Services Framework Agreement") with Sinotrans, pursuant to which Cyantron Group provides transportation services (the "Transportation Services") to Sinotrans to fulfill its freight orders across China for a term of three years from March 16, 2025 to March 15, 2028, which may be renewed as the parties may mutually agree.
Business · p. 351
Either party may terminate the lease with a 30-day advance written notice and obtaining the other party’s consent.
Our Group entered into framework agreements with Customer A in 2016.
Business · p. 243
These framework agreements are typically subject to renewal every 12 months.
Business · p. 243
Our Directors confirm that the transactions between Customer A and our Group during the Track Record Period were on normal commercial terms, similar to the other JDM agreements that we had entered into with other customers during the Track Record Period.
In respect of our term contracts, the revenue derived from which was substantially attributable to the Master Agreement during the Track Record Period, accounting for approximately 96.1% and 97.7% of our revenue attributable to term contracts for FY2023/24 and FY2024/25, respectively.
Business · p. 174
Three years, commencing from 30 July 2023 and expiring on 29 July 2026.
Business · p. 174
We entered into the Master Agreement on a fixed-term contract basis with Customer A (as project owner), in which Customer A would issue works orders and instructions to us and we are responsible for performing the works in accordance with such works orders and instructions.
In consideration of the termination, we shall pay non-refundable termination fees to Innovent in an aggregate of US$20.0 million (the "Termination Fees") in installments by December 1, 2026.
Business · p. 398
The remaining termination fees payment of US$14.0 million will be paid in two installments by December 2026.
Summary · p. 17
According to Frost & Sullivan, a higher amount of termination fee than the original option fee is in line with industry norm.
We generally enter into framework agreements with or directly receive purchase orders from our customers.
Business · p. 286
Our customers generally retain discretion as to whether and when to place orders with us under the framework agreements.
Business · p. 286
Accordingly, the orders placed by our automotive customers under the framework agreements may fluctuate from period to period and may not always materialize into actual purchase orders.
Moreover, based on capacity discussions and agreements, three of our OEM suppliers have already entered into contractual arrangements designed to support a mutually agreed projected 40% increase in order volumes for 2025, including commitments to accept orders within specified tolerance ranges and compensation mechanisms to manage volume fluctuations.
Business · p. 163
Under this arrangement, if our actual monthly orders fall more than 15% below our forecasted targets, we compensate the affected suppliers at a predetermined rate per unit for the shortfall, with an annual cap of RMB1 million per supplier.
Exclusive bancassurance arrangements commonly include termination rights which may be triggered if specific, pre-defined conditions are met, for example upon material breaches by either party, in the event a party becomes a competitor, upon a change of control or in the event of force majeure.
Business · p. 299
Our bancassurance partnerships, particularly exclusive bancassurance arrangements, typically last for a duration of ten to 15 years.
Pursuant to the Licensing Agreement, Grand Pharma shall have the right to terminate the Licensing Agreement upon written notice to us, if we fail to successfully complete the first patient dosing of CBT-001 in mainland China by 13 April 2022 (or within a mutually agreed extended timeline), or fail to obtain the regulatory approval for CBT-001 in mainland China by 13 April 2025 (or within a mutually agreed extended timeline).
Business · p. 335
The first patient dosing in mainland China occurred on 6 March 2024 which is after 13 April 2022, as the clinical trial progress was affected by COVID-19, which may give rise to Grand Pharma’s right to terminate the Licensing Agreement with us absent a mutually agreed extended timeline or an amendment or waiver of the relevant terms.
Our customers commit to us a minimum procurement limits within the first three years from the effective date of the agreement.
Business · p. 252
If the purchasing volume for a year does not reach the minimum purchasing limit, our customers shall make up the difference within 60 days from the settlement date of the year; otherwise, we have the right to unilaterally terminate the agreement by providing a 30-day written notice in advance and demand our customers to pay liquidated damages.
Business · p. 252
The customers for whom we undertook these projects generally have in place master agreements without definitive overall or minimum purchase amounts.