Specifically, we adopt a tiered pricing model for our acoustic enhancement materials.
Business · p. 139
For such sector, we generally set a benchmark price of US$1,850 per kilogram, which is subject to adjustment based on customers’ historical and forecast procurement volumes.
Business · p. 139
For PV back-glass coating materials, (i) pricing of coating products is determined through a systematic bidding process conducted on a monthly or quarterly basis; and (ii) for PV conductive paste, we generally lock the silver price at the time when customers place orders.
We primarily follow demand-driven pricing strategy for products in consumer electronics, automotive electronics and smart office applications, taking into consideration downstream demand, prices of competitive products, operational efficiency, and yield rate, among others.
Financial Information · p. 217
We may face pressure to increase prices in case of increases in raw material prices or production costs or changes in competitive landscape.
Financial Information · p. 217
Pricing of the products is generally specified in statements of work or purchase orders, and may be adjusted upon mutual agreement.
Pursuant to the applicable PRC laws and regulations, including the ‘‘Notices on Issues Concerning the Implementation of Market-based Pricing for Medical Services of Non-Public Medical Institutions’’（《關於非公立醫療機構醫療服務實行市場調節價有關問題的通知》）, private for-profit medical institutions and online healthcare platforms are entitled to autonomously determine the pricing for their healthcare services.
Business · p. 151
Our pricing strategy for each service or product follows a market-based model.
Business · p. 151
Our market-based pricing autonomy supports several strategic objectives: it (i) allows for localized pricing adjustments to align with regional economic conditions and patient demographics; (ii) facilitates the development of diversified service tiers and innovative treatment protocols; and (iii) enhances our ability to attract and retain skilled medical professionals through competitive compensation structures linked to service value.
We price our products and solutions primarily at a medium-to-high range in the market to reflect the capability of our products, though we may strategically adjust the pricing of some of our solutions in the early stages of market entrance in certain regions to establish our footprint, and we may have regional price variations to cater to our broad base of clients.
Business · p. 161
Pricing is tailored to the solution’s complexity, such as the number of medical specialties, disease areas, and workflows integrated into the solution.
During the Track Record Period, drivers' service fees accounted for 85.3%, 87.8%, 87.3%, 87.7% and 84.4% of our ride-hailing services revenue for the respective periods.
Financial Information · p. 229
In 2025, the gross profit margin of our ride-hailing services business recovered to 0.3% and the adjusted net loss narrowed, primarily because from the fourth quarter of 2025 we shifted our focus from scale expansion towards profitability improvement, optimizing our drivers' service fee.
Financial Information · p. 229
Going forward, we intend to improve the gross profit margin of our ride-hailing services business by growing order volume and GTV through our phased city development strategy and dynamically optimizing drivers' service fees, sustain gross profit contribution from our passenger transportation services and digitalization and business solutions businesses, and enhance operational efficiency across our business segments to achieve positive net cash from operating activities and net profit.
We adopt a pricing strategy combining cost-plus pricing and market-based pricing.
Business · p. 116
From the customer perspective, large state-owned enterprise customers and long-term cooperative customers are generally offered volume-based discounted prices, while standard retail prices apply to small-scale customers.
Business · p. 116
To expand coverage and deepen penetration into regional public transport markets, we determine pricing for our joint ventures with public transport enterprises by taking multiple factors into consideration, including economic returns from the share of profits of joint ventures.
We generally set prices of our products on a cost-plus basis after taking into account a combination of factors, among other things, production factors such as cost of raw materials and other manufacturing costs, expected profit margins, type of product sold, product features, quality and production techniques involved, extent of customization (if any), and design, research and product development efforts involved; as well as market factors such as market trends and demand, target markets and customers and their purchasing power, business relationship with our customers (such as duration of business relationship and historical sales volume to such customers), and comparable product prices set by our competitors.
Business · p. 147
In line with industry practice, customers require us to participate in rebate arrangements as part of the overall commercial terms. Such rebate arrangements form an integral part of our pricing framework and are generally determined based on agreed criteria, including purchase volume and sales targets.
Business · p. 148
During the Track Record Period, our selling prices for our products remained relatively stable as we adopted a cost-plus pricing approach that factors in raw-material costs, processing costs and agreed margins with our customers.
Our product pricing policy generally follows a copper price plus processing fee model.
Business · p. 143
While fluctuations in copper prices can impact both our revenue and cost of sales, our profitability is primarily influenced by the processing fee, which reflects the technological sophistication, production efficiency, product quality and value-added attributes of our electrolytic copper foil products.
Financial Information · p. 188
Our gross profit margin improved to 6.5% in 2025, primarily due to an improved product mix with a higher contribution from high value-added products, a recovery in downstream demand that supported the increase in pricing and processing fees, and cost dilution effects resulting from increased production scale.
We generally adopt a cost-plus pricing policy for our products and solutions.
Business · p. 138
To address the time lag between raw material price fluctuations and price negotiations with customers, we generally adopt a dynamic pricing adjustment mechanism.
Given the tailored nature of each customer’s chip packaging and testing solution, pricing is determined through negotiation, taking into account factors such as order scale, our overall production capacity utilization and prevailing market supply and demand conditions.
Business · p. 105
For certain non-ferrous metals, we generally adopt the average spot price on the London Metal Exchange for the preceding quarter, which enables us to effectively reflect changes in raw material prices in our pricing to customers.
We generally adopt a cost-plus pricing policy for the majority of our products.
Business · p. 158
For popular items from well-recognised brands, we typically adopt a more aggressive pricing approach with a lower expected average gross profit margin.
Business · p. 158
For parallel-imported products that are also available through official dealer channels, we adopt a slightly lower pricing strategy as compared to those official dealer channels to project a high value-for-money perception among customers.
We generally set pricing on a cost-plus basis after considering various factors, among other things, production costs, technology specifications, customer demand, order volume, supply chain considerations, prevailing market conditions and target margins.
Business · p. 107
To mitigate such exposure, we may incorporate price adjustment mechanisms in our sales arrangements to reflect changes in raw material costs such as copper, aluminium, silicon steel and other metals.
Business · p. 107
To mitigate such volatility, we may incorporate price adjustment mechanisms in our sales arrangements to reflect changes in the costs of such key inputs.
We generally adopt a cost-plus pricing approach across our various sales channels to establish our baseline pricing and ensure profitability.
Business · p. 155
We normally do not separately charge fees in relation to marketing and commercial services we provide to pharmaceutical companies.
Business · p. 155
As advised by our PRC Legal Advisor, the preferential procurement arrangement entered into between the Company and its major suppliers complied with applicable laws and regulations, and such arrangements do not constitute any prohibited circumstances as set forth under the Anti-Unfair Competition Law of PRC (《反不正當競爭法》) or Provisional Regulations on the Prohibition of Commercial Bribery by the State Administration for Industry and Commerce (《國家工商行政管理局關於禁止商業賄賂行為的暫行規定》).
For certain of our PCB products, particularly those for consumer and automotive electronics customers, prices are agreed for a longer period and are subject to adjustment mechanisms.
Business · p. 151
For our precision components with longer-term pricing arrangements, prices are typically reviewed annually or adjusted under the framework agreement's risk sharing mechanism, under which, if raw material costs move beyond an agreed baseline, we renegotiate the acceptance price for the next pricing period under the contract.
Business · p. 151
While the selling prices of certain products have historically been agreed on a relatively long-term basis, these arrangements have not had a material impact on our gross profit margin.
The selling prices of our ODM products are determined on a cost-plus basis with reference to (i) cost of sales, mainly representing costs of raw materials and components and logistic fees, and (ii) a mark-up rate for different products.
Business · p. 162
For our branded business, we adopt a market-oriented pricing strategy, closely monitoring changes in the markets where we operate.
Business · p. 162
While we aim to continue offering products at competitive prices, our pricing strategies are flexible and based on market conditions, avoiding mere price reductions to stay competitive.
In addition, the China Phosphate & Compound Fertilizer Industry Association issues guidance opinions from time to time, which among other things provides pricing frameworks for relevant products under its supervision.
Financial Information · p. 209
MAP and DAP are subject to the pricing guidance frameworks promulgated by the China Phosphate & Compound Fertilizer Industry Association from time to time.
For influencer marketing, service fees are generally determined based on a cost-plus model, taking into account the costs of media resources procured and a service fee calculated as a percentage of such costs.
Summary · p. 3
For our content amplification business, we primarily charge customers service fees based on the two models: (i) a performance-based model, where fees are calculated based on the actual volume of ad delivery multiplied by a pre-agreed unit price, and (ii) a cost-plus model, which consists of the total costs of the content promotion campaign plus a service fee calculated as a percentage of such costs.
Business · p. 144
For our content management services, we primarily charge customers on a subscription basis, with fixed and tiered annual fees calculated according to the number of uses, accounts managed, and/or data processing volume.
The majority of our service fees are performance-based, calculated as a specified percentage of total net sales, representing GMV minus refunds, generated on corresponding e-commerce platforms.
Financial Information · p. 206
In general, we typically agree for lower percentages with brands with larger scale.
Financial Information · p. 206
However, refunds, which can be affected by a number of factors beyond our control, including platform policies, product categories, brand owner strategies and consumer preferences, can result in a divergence between GMV growth and our revenue growth.
Based on consideration of costs, tender price and contractual arrangement, we primarily adopt two pricing strategies: (i) a dynamic pricing model based on reference pricing from recognized e-commerce platforms, where discounts are applied in accordance with predefined rules; and (ii) a fixed pricing model based on pre-agreed product lists.
Business · p. 112
It also depends on our ability to maintain pricing discipline under different customer arrangements, including tender and bidding processes and framework agreements, and to respond appropriately to customer-specific pricing requirements as we expand our business across product categories and customer groups.
We generally determine our pricing for new energy materials based on raw material costs and manufacturing costs, with final prices adjusted dynamically along with downstream market conditions.
Business · p. 140
For our critical metal resources business, we primarily price our products by referencing to metal price of global indices of specific metals over an agreed period as benchmark.