We had net current liabilities of RMB995.6 million and RMB590.7 million as of December 31, 2023 and 2024, respectively, and net current assets of RMB119.5 million and RMB1,146.6 million as of December 31, 2025 and June 30, 2026, respectively.
Financial Information · p. 205
We recorded net current liabilities of RMB995.6 million as of December 31, 2023 and net current liabilities of RMB590.7 million as of December 31, 2024, primarily attributable to a decrease in other payables and accruals from RMB565.0 million to RMB412.7 million, a decrease in interest-bearing bank and other borrowings from RMB294.5 million to RMB74.2 million, and an increase in inventories from RMB31.8 million to RMB55.7 million and an increase in cash and cash equivalents from RMB31.9 million to RMB44.7 million.
Financial Information · p. 205
Taking into account our Group's available financial resources, including (i) our cash and cash equivalents; (ii) our expected operating cash flows; and (iii) the estimated net [REDACTED] from the [REDACTED], our Directors are of the opinion, and the Sole Sponsor concurs, that our Group has sufficient working capital to satisfy at least 125% of our Group's costs and working capital requirements for at least the next 12 months from the date of this Document.
We also recorded net current liabilities of RMB37.5 million and RMB322.4 million as of December 31, 2023 and 2024, respectively, and net liabilities of RMB42.6 million and RMB274.0 million as of the same dates.
Business · p. 182
Taking into account our stable operations, continued access to bank financing, including unutilized and committed credit facilities of RMB554.5 million as of the Latest Practicable Date, our working capital profile, and our cash and cash equivalents on hand, together with expected cash inflows from operations and the [REDACTED] from the [REDACTED], and based on our projected cash flow requirements, our Directors are of the view, and the Sole Sponsor concurs, that our Group has sufficient working capital for its present requirements and for at least the next 12 months from the date of this document.
Our net current liabilities of RMB1,555.2 million as of December 31, 2024 changed to net current assets of RMB318.9 million as of December 31, 2025.
Summary · p. 10
Our Directors are of the opinion that, taking into account the financial resources available, including cash and cash equivalents, the expected income from our commercialized product and the estimated net proceeds from the Listing, our cash burn rate as well as scheduled banking facilities repayment, we have sufficient working capital to cover at least 125% of our costs, including research and development expenses, selling expenses and administrative expenses for at least the next 12 months from the date of this Prospectus.
Our net current liabilities decreased from approximately RMB38.8 million as at 31 December 2021 to RMB3.9 million as at 31 December 2022, representing an amount of approximately RMB34.9 million.
Financial Information · p. 302
Our net current liabilities position changed from approximately RMB3.9 million as at 31 December 2022 to net current assets position of approximately RMB26.4 million as at 31 December 2023, representing an increase of approximately RMB30.3 million, which was mainly attributable to the combined effects of (i) our cash and bank balances increase of approximately RMB56.5 million;
Financial Information · p. 302
Our Directors are of the opinion that after taking into account, the existing financial resources available to our Group including internally generated funds from operating activities, existing banking facilities available and the estimated net proceeds from the Global Offering, our Group has sufficient working capital for its present requirements for the next 12 months from the date of this prospectus.
As of December 31, 2021 and 2022, our net current liabilities amounted to RMB468.1 million and RMB231.5 million, respectively. As of December 31, 2023 and August 31, 2024, our net current assets amounted to RMB359.2 million and RMB503.6 million, respectively.
Financial Information · p. 305
Taking into account the financial resources available to us, including our cash and cash equivalents on hand, the available banking facilities and the estimated net proceeds from the Global Offering, our Directors are of the view that we have sufficient working capital to meet our present requirements and for the next 12 months from the date of this prospectus.
We recorded net current liabilities of RMB53.2 million and RMB3,595.7 million as of March 31, 2020 and 2021, respectively.
Summary · p. 15
Our net current liabilities position as of each of these dates was mainly due to the warrants and/or redeemable convertible preferred shares in connection with our Pre-IPO Investments.
Summary · p. 15
As a result, upon the completing of the Global Offering, our redeemable convertible preferred shares will be re-designated from financial liabilities to equity such that our current net liabilities position is expected to change to a net assets position.