Hong Kong IPO disclosure precedents · 6 companies, 6 items
A supplier is simultaneously a customer because the company sells scrap, waste or recyclable byproducts (e.g. copper scrap) back to its raw-material supplier.
Among our five largest suppliers during the Track Record Period, only Supplier E was also our customer.
Business · p. 147
Our sales to and purchases from Supplier E were conducted under separate business arrangements in the ordinary and usual course of business, on normal commercial terms and following arm’s length negotiations.
During the Track Record Period, some of our customers were also our suppliers of raw materials and consumables.
Summary · p. 8
The number of our overlapping customers and suppliers which were among either our five largest customers or five largest suppliers was 2, nil, 2 and 1 in 2023, 2024 and 2025 and the six months ended June 30, 2026, respectively.
Business · p. 159
Our Directors confirmed that all of our sales to and purchases from these overlapping customers and suppliers were conducted in the ordinary course of business under normal commercial terms and on arm’s length basis.
Supplier F was also one of our five largest corporate customers in 2025.
Business · p. 155
In 2023, 2024 and 2025, purchase amount from Supplier F was nil, RMB16.5 million and RMB58.1 million, respectively, representing nil, 2.2% and 6.7% of our purchase amount for the same years, respectively, and revenue from Supplier F was consistently less than 0.1% of our total revenue for the same years, respectively.
Business · p. 155
On one hand, we procured beef tripe from Supplier F for use in our restaurant operations. One the other hand, if certain beef tripe or beef trip-related by-products in our restaurant operations do not meet our internal specifications for fresh presentation and immediate consumption, but may still remain suitable for alternative downstream applications following further processing, we may sell such products to Supplier F for use in further processing into prepared food or pre-packaged food products, or other industrial or commercial applications permitted under applicable laws and regulations.
During the Track Record Period, to the best knowledge of our Directors, we had seven major suppliers who are also our customers, or vice versa.
Business · p. 174
Our Directors have confirmed that all of our sales to and purchases from these overlapping customers and suppliers were conducted in the ordinary course of business under normal commercial terms.
Business · p. 175
During the Track Record Period, our sales and purchases with the overlapping customers and suppliers were not inter-conditional with each other.
During the Track Record Period, we had four overlapping customers and suppliers, namely supplier B, supplier D, supplier F and supplier H.
Business · p. 141
During the Track Record Period, Supplier B supplied aluminum bars to us and, at the same time, purchased the scrap aluminum generated from our manufacturing process.
Business · p. 142
Our Directors confirm that all our sales to and purchases from the overlapping customers and suppliers were conducted at arm’s length in the ordinary course of business, and under normal commercial terms.
In 2022, 2023 and 2024, and the five months ended May 31, 2025, our purchase amount attributable to Supplier C amounted to RMB160.0 million, RMB188.0 million, RMB223.9 million, and RMB18.8 million, which accounted for 5.3%, 6.6%, 7.3% and 1.2% of our total purchases, respectively, and our sales amount attributable to Supplier C amounted to RMB6.6 million, RMB1.1 million, RMB3.9 million, and RMB0.7 million, which accounted for 0.2%, 0.0%, 0.1% and 0.0% of our total sales amount, respectively.
Business · p. 243
The transactions that we entered into with the overlapping supplier-customer were on an arm’s-length, mutually independent basis under normal commercial terms resulted from public tender processes.
Business · p. 243
Given that (i) our relationship with the supplier-customer is unlikely to materially deteriorate or terminate, and (ii) the sales amount to the supplier-customer was immaterial during the Track Record Period, we believe that the supplier-customer overlap during the Track Record Period would not hinder our business prospects.