Hong Kong IPO disclosure precedents · 51 companies, 52 items
Customer-supplier overlap disclosed but both the revenue and procurement amounts involved are immaterial, each below roughly 1% of the total.
During the Track Record Period, Supplier F, one of our five largest suppliers in 2024 and 2025, also made limited purchases of certain products from us.
Business · p. 165
The company's explanation, the adviser's view and the page in the filing: see MattersSuch sales were negotiated on an arm’s length basis and were neither interconnected nor inter-conditional with our purchases from Supplier F.
Business · p. 165
Some of our suppliers were also our top five customers, but our aggregate purchases from these suppliers were insignificant, accounting for less than 1% of our total purchase amount in each year/period during the Track Record Period.
Business · p. 166
Hisense Group was one of such overlapping customers/suppliers in 2023 and 2024, but not in 2025 or six months ended June 30, 2026.
Business · p. 166
The company's explanation, the adviser's view and the page in the filing: see MattersThe pricing and other terms of contracts that we entered into with our overlapping customers and suppliers are substantially the same as those we enter into with other customers and suppliers, respectively, for similar products and services.
Business · p. 166
The aggregate revenue generated from such counterparties in each year/period during the Track Record Period amounted to approximately RMB1.9 million, RMB3.1 million, RMB368,000 and RMB74,000, respectively, while the aggregate purchases from such counterparties in each year/period during the Track Record Period amounted to approximately RMB6.6 million, RMB5.7 million, RMB123,000 and RMB65,000, respectively.
Summary · p. 5
The company's explanation, the adviser's view and the page in the filing: see MattersOur Directors believe that the relevant sales and procurement transactions were commercially distinct, conducted on normal commercial terms and supported by genuine commercial demand and operational needs.
Business · p. 153
During the Track Record Period, seven out of our nine Five Largest Suppliers were also our customers.
Business · p. 174
Our revenue generated from these overlapping suppliers/customers in 2023, 2024, 2025, and for the six months ended June 30, 2026 amounted to approximately RMB2.5 million, RMB3.4 million, RMB2.8 million, and RMB1.3 million, respectively, representing 0.05%, 0.05%, 0.03%, and 0.02% of our total revenue for the respective year/period.
Business · p. 174
The company's explanation, the adviser's view and the page in the filing: see MattersZhize Technology prices its products on an arm’s length basis and applies the same pricing to both intra-group and external customers.
Business · p. 175
Customer A | 2023 | 3,752,280 | 2,275 | 22.5
Business · p. 146
In accordance with Customer A’s technological and procurement requirements, we purchased customer-designated controllers from Customer A and integrated them into the corresponding lighting products sold to Customer A.
Business · p. 146
The company's explanation, the adviser's view and the page in the filing: see MattersIn 2023, 2024, 2025, and the three months ended March 31, 2026, our procurement from Customer A accounted for less than 1% of our total purchases for each year/period. The average gross profit margin of products sold to Customer A is 20.8% during the Track Record Period. All procurement arrangements with Customer A were negotiated on an arm’s length basis.
Business · p. 146
(ii) our purchases of Customer D’s products, primarily including motor controller for production line testing, was nil, nil, RMB1.0 million and nil in 2023, 2024, 2025 and the five months ended May 31, 2026, accounting for nil, nil, 0.0% and nil of our total purchase amounts for the respective year/period.
Business · p. 154
(ii) our purchases of Customer H’s products, primarily including motor subcomponents, amounted to RMB41.5 thousand, RMB72.0 thousand, nil and nil in 2023, 2024, 2025 and the five months ended May 31, 2026, respectively, accounting for 0.0%, 0.0%, nil and nil of our total purchase amounts for the respective year/period.
Business · p. 154
The company's explanation, the adviser's view and the page in the filing: see MattersAll of our sales to and purchases from these supplier-customers were conducted in the ordinary course of business under normal commercial terms and on an arm’s-length basis.
Business · p. 154
During the Track Record Period, we had one instance of overlapping customer and supplier.
Business · p. 152
The purchase amount was RMB52,212.4, RMB28,318.6 and RMB15,929.2, accounting for 0.001%, 0.0006% and 0.0004% of our total purchase amount in the years ended 31 December 2024 and 2025 and the five months ended 31 May 2026, respectively.
Business · p. 152
The company's explanation, the adviser's view and the page in the filing: see MattersChangzhou Fusion (常州聚和) ranked first, second, second, and first among our top five customers in the years ended 31 December 2023, 2024, and 2025 and the five months ended 31 May 2026, respectively.
Business · p. 152
During the Track Record Period, Shenzhen MicroBT Group was also one of our suppliers in 2023.
Business · p. 139
In 2023, our purchase from Shenzhen MicroBT amounted to RMB0.3 million, accounting for 0.2% of our total purchases in the same year.
Business · p. 139
The company's explanation, the adviser's view and the page in the filing: see MattersOur sales to and purchases from Shenzhen MicroBT Group were conducted in the ordinary course of business and on commercial terms negotiated on an arm's length basis.
Business · p. 139
During the Track Record Period, two of our top five customers in each year during the Track Record Period were also our suppliers.
Business · p. 127
Negotiations of the terms of our sales to and purchases from the overlapping customers or suppliers mentioned above were all conducted on an individual basis.
Business · p. 127
The company's explanation, the adviser's view and the page in the filing: see MattersOur Directors confirmed that all of our sales to and purchases from the overlapping customers or suppliers mentioned above were conducted in the ordinary course of business under normal commercial terms and on an arm's-length basis.
Business · p. 127
We primarily provided intelligent logistics platform services and integrated supply chain services to Shandong Energy during 2023, 2024 and 2025, generating revenue of RMB140.9 million, RMB411.8 million and RMB1,698.7 million, respectively, representing 0.6%, 2.5% and 10.4% of our total revenue for the respective years.
Business · p. 147
Revenue generated from Jinnan Steel amounted to RMB992.0 million, RMB1,078.4 million and RMB1,255.8 million, respectively, representing 4.6%, 6.5% and 7.7% of our total revenue for the respective years.
Business · p. 147
The company's explanation, the adviser's view and the page in the filing: see MattersOur revenues from this customer amounted to RMB585.3 million, RMB591.0 million, and RMB601.7 million, respectively, accounting for 2.7%, 3.6%, and 3.7% of our total revenue in each corresponding year.
Business · p. 148
During the Track Record Period, one of our major customers, Customer A, was also our supplier for simulation software.
Business · p. 166
During the Track Record Period, five of our major suppliers, including Supplier A, Supplier B, Supplier D, Supplier E and Supplier G, were also our customers for robotic products and spare parts.
Business · p. 166
The company's explanation, the adviser's view and the page in the filing: see MattersNegotiations of the terms of our sales to and purchases from the overlapping customers and suppliers were conducted on an individual basis and the sales and purchases were neither inter-connected nor inter-conditional with each other.
Business · p. 167
In 2025, E Ink Holdings, our largest supplier in each year during the Track Record Period was also one of our customers, to whom we sold four-color small-size e-paper display modules of RMB41.5 thousand, representing less than 0.1% of our total revenue in 2025.
Business · p. 166
The company's explanation, the adviser's view and the page in the filing: see MattersOur Directors have confirmed that our sales to and purchases from E Ink Holdings during the Track Record Period were not inter-conditioned, inter-related or otherwise considered as one transaction, and were conducted in the ordinary course of business and under normal commercial terms.
Business · p. 166
During the Track Record Period, Supplier D, one of our five largest suppliers in 2024 and 2025, was also our customer in 2024.
Business · p. 160
Supplier J, one of our five largest suppliers in 2023, was also a customer of ours in the same year.
Business · p. 160
The company's explanation, the adviser's view and the page in the filing: see MattersOur purchases from Customer G amounted to RMB7.6 million in 2024.
Business · p. 160
As our supplier, purchases from Supplier A amounted to RMB64.5 million in 2023, RMB67.5 million in 2024 and RMB54.9 million in 2025, representing 18.1%, 21.2% and 16.1% of our total purchases for the respective years.
Business · p. 143
Such overlap primarily arose because participants in the industrial-grade 3D printing integrated solutions industry usually have complementary business needs across different parts of the value chain.
Business · p. 144
The company's explanation, the adviser's view and the page in the filing: see MattersNegotiations of the terms of our sales to and purchases from these overlapping customer-suppliers were conducted on an individual basis, and the sales and purchases were neither interconnected nor inter-conditional.
Business · p. 144
During the Track Record Period, certain of our major customers were also our suppliers.
Business · p. 155
In 2023, 2024 and 2025, our purchases from Customer F accounted for 0.53%, 0.95%, 0.02% of our total purchase amount, respectively.
Business · p. 155
The company's explanation, the adviser's view and the page in the filing: see MattersNegotiations of the terms of our sales to and purchases from such overlapping customers/suppliers were conducted on an individual basis, and the sales and purchases were neither inter-connected nor inter-conditional with each other.
Business · p. 155
During the Track Record Period, certain of our major customers also supplied to us.
Business · p. 175
In 2024 and 2025, our purchases from Customer D accounted for 0.02% and 0.06% of our total purchase amount, respectively.
Business · p. 175
The company's explanation, the adviser's view and the page in the filing: see MattersWe made occasional purchases from such overlapping customers and suppliers primarily because their business scope also covers products or services that we use, or because we supply products that they require, resulting in reciprocal transactions in the ordinary course of business.
Business · p. 175
During the Track Record Period, we mainly provided six-axis industrial robots to Customer B, which was among our major customers and also served as a supplier. Customer B provided robot bases to us.
Business · p. 173
During the Track Record Period, we purchased RV reducers and RV input shafts from Supplier A, servo motors from Supplier B and welding machines from Supplier D, all of which were among our major suppliers and also served as customers.
Business · p. 173
The company's explanation, the adviser's view and the page in the filing: see MattersNegotiations of the terms of our sales to and purchases from the overlapping customer and supplier were conducted on a case-by-case basis and purchases were neither interconnected nor inter-conditional with each other.
Business · p. 173
Customer A, being our largest customer in 2023, was also our supplier in the same year.
Business · p. 170
In 2023, 2024 and 2025, the revenue contribution of Customer C amounted to RMB130.6 million, RMB323.7 million and RMB145.3 million, respectively, accounting for 8.6%, 22.8% and 9.7% of our total revenue in the same periods, respectively.
Business · p. 170
The company's explanation, the adviser's view and the page in the filing: see MattersNegotiations of the terms of our sales to and purchases from the overlapping customer and supplier are conducted on a case-by-case basis and the purchases are neither interconnected nor inter-conditional with each other.
Business · p. 170
During the Track Record Period, some of our Wholesale Customers were also our suppliers.
Business · p. 154
None of such Wholesale Customers, however, was a major customer of our Group as sales to such Wholesale Customers represented an insignificant amount of our total revenue due to our diverse customer base and none of them were our major supplier during the Track Record Period.
Business · p. 154
The company's explanation, the adviser's view and the page in the filing: see MattersFor FY2023, FY2024, FY2025 and 8MFY2026, we recorded HK$22.2 million, HK$23.6 million, HK$26.2 million and HK$16.6 million, respectively, from wholesale sales, representing 2.0%, 1.2%, 1.1% and 0.8% of our total revenue for the respective periods.
Business · p. 153
During the Track Record Period, certain of our major suppliers also acted as our customer and vice versa, resulting in an overlap between our customer and supplier relationships in certain cases.
Summary · p. 8
During the Track Record Period, certain of our major customers, namely Customer A, Customer B, Customer C and Customer E, Customer F and Customer G also acted as our suppliers.
Business · p. 152
The company's explanation, the adviser's view and the page in the filing: see MattersAccordingly, we generated a small amount of revenue from Supplier A of nil, RMB17.9 thousand and RMB66.9 thousand in 2023, 2024 and 2025, respectively, representing less than 1% of our total revenue for the same years.
Business · p. 152