Hong Kong IPO disclosure precedents · 336 companies, 336 items
Counterparties ranked among the top five customers and/or suppliers acting in both roles during the track record, with transaction amounts, revenue/procurement percentages and margins disclosed.
During the Track Record Period, Beijing Nowogen Technology Co., Ltd. ("Beijing Nowogen") was our major supplier and also our major customer.
Business · p. 314
In 2021, 2022, 2023 and the five months ended May 31, 2024, our procurement from Beijing Nowogen and its subsidiaries amounted to nil, RMB29.3 million, nil and RMB0.6 million, respectively.
Business · p. 314
In 2021, 2022, 2023 and the five months ended May 31, 2024, our revenue generated from Beijing Nowogen amounted to RMB20.2 million, RMB33.8 million, RMB60.8 million and RMB0.5 million, respectively.
In 2021, 2022, 2023 and the six months ended June 30, 2024, to the best knowledge and belief of our Directors, three, two, three and one of our top five customers were also our suppliers in the respective years.
Business · p. 244
During the same years/periods, our purchases from such customers accounted for 4.9%, 1.9%, 2.5% and 0.8%, respectively, of our total purchases from continuing operations, and our total sales to such customers accounted for 73.3%, 71.2%, 77.1% and 75.3%, respectively, of our revenue.
Business · p. 244
Our Directors confirmed that negotiations of the terms of our purchases from and sales to these suppliers and customers were conducted separately and as a result, the purchases and sales were neither connected with nor conditional upon each other.
During the Track Record Period, some of our customers procuring our products and/or R&D services were also our suppliers who provide us with the raw materials to support the manufacturing of our products.
Summary · p. 11
The following table sets forth the details of our major customers being also a supplier, and our major supplier being a customer, during the Track Record Period:
Business · p. 392
Our Directors confirmed that there is no overlap in the products sold/purchased or services rendered/received for each of the overlapping customers and suppliers, and all of our sales to and purchases from these overlapping customers and suppliers were entered into after due consideration taking into account the prevailing purchase and selling prices at the relevant times, conducted in the ordinary course of business under normal commercial terms and on arm’s length basis.
To the best knowledge and belief of our Directors, we made sales to one, nil, one and nil of our top five suppliers who were also our customers in each year/period of the Track Record Period.
Business · p. 316
As confirmed by our Directors, (i) the negotiations of the terms of our sales to and purchases from these overlapping customers and suppliers were conducted on an individual basis and the sales and purchases were neither inter-connected with nor inter-conditional upon each other; and (ii) the major terms of transactions with these overlapping customers and suppliers were similar to those with our other customers and suppliers and were in line with normal commercial terms.
Business · p. 316
We were under no obligation to purchase from or sell our products to any of these overlapping customers and suppliers.
During the Track Record Period, Shenzhen MPEG was also our supplier.
Business · p. 256
Negotiations of the terms of our sales to and purchases from Shenzhen MPEG were conducted on an individual basis and the sales and purchases were neither inter-connected nor inter-conditional with each other.
Business · p. 256
During the Track Record Period, we purchased general auxiliary services from subsidiaries of Geely Related Group, one of our five largest customers during the Track Record Period.
During the same period, three of our top five customers, China Ocean Shipping Agency Company Limited (“China Ocean Shipping”). Seaway Holdings Pty Ltd and its subsidiaries (“Seaway”) and Customer D, were also our suppliers.
Business · p. 279
As confirmed by Drewry, our dealing with such third parties is consistent with the container shipping industry practice in the countries and regions where these third parties are located.
Business · p. 280
Our revenue from the overlapping customers and suppliers were minimal during the Track Record Period, accounting for 1.5%, 1.7%, 2.2% and 1.8% respectively, of our total revenue, for 2021, 2022 and 2023 and the four months ended April 30, 2024.
Additionally, during the Track Record Period, some of our major customers directly provided us with raw materials, primarily lithium carbonate, to produce LFP cathode materials particularly during times of raw material scarcity, to ensure adequate supply.
Business · p. 256
In 2022, 2023 and the first half of 2024, the volume of lithium carbonate received under such arrangements amounted to 1,346.0 tons, 6,781.1 tons and 1,731.1 tons, respectively.
Business · p. 256
Costs of such lithium carbonate were deducted directly upon the recognition of corresponding revenue from sales of LFP cathode material to customers who supplied such lithium carbonate.
Company T, one of our top five suppliers in each year of 2021, 2022 and 2023, was also our largest customer in each period during the Track Record Period.
Business · p. 233
Negotiations of the terms of our sales to and purchases from these 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. 233
The revenue from Company T in 2021, 2022 and 2023 and the four months ended April 30, 2024 was RMB948.8 million, RMB922.7 million, RMB957.5 million and RMB253.7 million, respectively, accounting for approximately 8.4%, 7.3%, 7.1% and 6.1% of our total revenue, respectively, for the same periods.
Certain of our top five customers during the Track Record Period (Customer-Supplier Group D, Customer-Supplier Group I, Customer-Supplier Group J and Customer-Supplier Group O) were also our suppliers during the Track Record Period, of which Customer-Supplier Group D and Customer-Supplier Group I were top five suppliers in one or more periods during the Track Record Period.
Business · p. 309
At the same time, as Customer-Supplier Group I is a cloud service provider, we purchased network and bandwidth services from it for our business to enhance our cross-regional cloud technical capabilities and efficiency.
Business · p. 310
Our Directors confirm that our sales to and our purchases from all overlapping customer-suppliers were conducted in the ordinary course of business under normal commercial terms and on an arm's length basis.
Specifically, two of our top five suppliers in certain years/periods in the Track Record Period (being Tigermed Group (泰格醫藥集團) and Supplier C) providing us with SMO service, specifically, clinical research on-site management and operation, that enable us to provide digital SMO business management service, were also our customers procuring pharmaceutical and medical device R&D software from us.
Business · p. 279
In addition, the transactions that we entered into with the overlapping supplier-customers were on an arm’s-length, mutually independent basis under normal commercial terms.
Business · p. 280
Therefore, and given the small percentage of supplier-customer overlap during the Track Record Period, we believe that the supplier-customer overlap during the Track Record Period during certain years in the Track Record Period would not hinder our business prospects.
During the Track Record Period, among our top five customers and suppliers, we had two overlapping customers and suppliers.
Business · p. 249
Our Directors confirmed that negotiations of the terms of our sales to and purchases from the above overlapping customer-supplier were conducted independently, and these sales and purchases were independent from one another.
During the Track Record Period, three of our five largest customers in 2023, three of our five largest customers in 2022 and two of our five largest customers in 2021, each of whom acted as our CSAs, were also our suppliers.
Summary · p. 8
From such customers, we received revenue of US$25.5 million, US$43.4 million and US$38.2 million for years ended December 31, 2021, 2022 and 2023, respectively, representing 3.5%, 4.9% and 3.6% of total revenue for the respective years.
Business · p. 250
The CSAs also receive commissions from us pursuant to the CSA agreements, making them our suppliers.
During the Track Record Period, to the best knowledge and belief of our Directors, among our five largest suppliers and customers in each year during the Track Record Period, Supplier A was our major overlapping customer and supplier.
Business · p. 175
For the Track Record Period, we principally purchased components, such as coolers and water sealed tanks from Supplier A with purchase amounts of approximately RMB5.8 million, RMB7.4 million and nil, respectively; and we provided it with spare parts such as nozzles and hex steel with aggregate transaction amounts of approximately RMB0.4 million, RMB0.2 million and RMB0.4 million for the years ended 31 December 2021, 2022 and 2023, respectively
Business · p. 176
Our Directors confirmed that negotiations of the terms of our sales to and purchases from Supplier A were conducted separately and the sales and purchases were not inter-conditional with each other.
During the Track Record Period, certain of our customers were also our suppliers. We sold certain types of pharmaceutical products to these companies as part of our inventory management strategy, and procured certain other types of pharmaceutical products, medical devices, healthcare and nutritional supplements and other wellness products from them.
Summary · p. 18
Our aggregate sales to these two customers amounted to RMB30.6 million in 2023, accounting for less than 2.0% of our total revenue for the same year.
Business · p. 280
Our Directors confirm that all of our sales to and purchases from these companies were conducted in the ordinary course of business under normal commercial terms, and none of our sales to and purchases from these overlapping entities were the same or back-to-back sales during the Track Record Period.
GAIG was among both our five largest customers and our five largest suppliers in each year of the Track Record Period.
Summary · p. 8
In 2021, 2022 and 2023, revenue from GAIG amounted to RMB5.2 million, RMB20.0 million and RMB113.5 million, respectively, representing 0.5%, 1.5% and 5.3%, respectively, of our total revenue for the respective periods.
Business · p. 339
Negotiations of the terms of our sales to and purchases from these entities were conducted on an individual basis and the sales and purchases were neither inter-connected or inter-conditional with each other.
In 2021, 2022 and 2023, Supplier C was also our customer for cloud financial & tax digitalization solutions and on-premises financial & tax digitalization solutions, with revenue contribution of RMB10.2 million, RMB3.1 million and RMB2.3 million, respectively.
Business · p. 257
Negotiations of the terms of our sales to and purchase from Supplier C and Supplier A were conducted on an individual basis and the sales and purchases were neither connected with nor conditional upon each other.
During the Track Record Period, purchase amount from Supplier A in each year amounted to RMB152.6 million, RMB136.7 million and RMB148.4 million, respectively, representing 39.7%, 26.8% and 30.4% of our total purchase amount for the same years, respectively; sales amount generated from Supplier A in each year amounted to RMB3.1 million, RMB23.4 million and RMB10.3 million, respectively, representing 0.7%, 4.5% and 1.3% of our total sales amount for the same years, respectively.
Business · p. 333
Our Directors confirm that each of our sales to and our purchases from the aforementioned overlapping customers-supplier were negotiated and conducted separately under normal commercial terms.
Due to the nature of the Group’s Telecommunications Infrastructure Services projects, the Group may on a few occasions be required to pay for the service fees for certain telecommunications services (such as mobile telecommunications services and Internet network resources) provided by Customer D to enable the Group to perform the services required under such projects.
Business · p. 234
During the Track Record Period, (i) the revenue generated from provision of services to Customer D, who is also one of the Group’s suppliers, amounted to approximately RMB24.2 million, RMB89.4 million and RMB132.1 million, respectively, representing approximately 5.1%, 21.6% and 21.7% of the total revenue, respectively
Business · p. 234
The Group’s purchases from Customer D during the Track Record Period amounted to approximately RMB77,000, nil and nil, respectively, which the Directors believe to be insignificant.
During the Track Record Period, certain of our top five customers procured mainly OEM parts from their approved suppliers on our behalf.
Business · p. 218
Customer A, one of our major customers: approximately S$1,900 and S$9,000 for the years ended 31 December 2022 and 2023, respectively
Business · p. 218
Such customers procured parts from their suppliers on our behalf to speed up the procurement process, which we then used for manufacturing for such customers.
Except for Customer A, one of our five largest customers in 2021, 2022 and 2023, respectively, who was also our supplier in 2022 and 2023, respectively, none of our major customers was our major supplier in each year during the Track Record Period.
Summary · p. 7
Negotiations of the terms of our sales to and purchases from this company were conducted on an individual basis, and the sales and purchases were neither inter-connected or inter-conditional with each other.
Business · p. 267
Our Directors confirmed that all of our sales to and purchases from this company were conducted in the ordinary course of business under normal commercial terms and on arm's length basis.