Although usually orders related to retrofit in-service ships have higher unit selling price due to the involvement of modification costs, the average selling price of our ship exhaust gas cleaning systems for retrofit in-service ships in 2023 and for the six months ended June 30, 2024 was lower than that for newbuildings mainly because the orders we completed for retrofit in-service ships involved the scrubbers with smaller diameters pursuant to customers’ request, which have lower costs and lower average selling prices compared to those for newbuildings.
Summary · p. 9
The decrease in the average selling price of our ship exhaust gas cleaning systems during the Track Record Period was primarily caused by the decrease in the average selling price of our ship exhaust gas cleaning systems for retrofit in-service ships during the same period.
In 2021, 2022, 2023 and the six months ended June 30, 2023 and 2024, our net interest income accounted for 85.3%, 93.9%, 82.3%, 80.2% and 76.8% of our total operating income, respectively.
Financial Information · p. 456
Interest rates applicable to us are affected by many factors that are beyond our control, such as the benchmark interest rates set by the PBoC, capital cost, asset risk status and other indicators as the pricing benchmark, customer needs and business operations, the prices of similar products in the industry and competitors, and the business relationship with the customers to determine the product price.
Financial Information · p. 456
Five-year LPR decreased from 4.65% as of January 1, 2021 to 3.60% as of the Latest Practicable Date, while one-year LPR decreased from 3.85% as of January 1, 2021 to 3.10% as of the Latest Practicable Date.
The pricing is set based on negotiations between us and the hospitals with reference to the relevant provincial health insurance reimbursement list.
Business · p. 329
As of the Latest Practicable Date, the price for cognitive training in hospitals ranges from approximately RMB10.0 to RMB930.0 per session, depending on the content and number of training sessions actually received by the patient.
Business · p. 338
However, we may face downward pricing pressure if our products are included in the government insurance coverage, even if such inclusions are expected to increase the sales volume of our products.
During the Track Record Period, the average selling price of our hydrogen fuel cell systems has shown a general downward trend.
Financial Information · p. 414
This trend, confirmed by Frost & Sullivan, aligns with industry patterns and is primarily attributed to factors such as product commercialization, advancements in technological capabilities, and improvements in costefficiency.
Financial Information · p. 414
For 2021, 2022, 2023 and the five months ended May 31, 2024, the average costs of sales per kW of our fuel cell systems were approximately RMB3,070.1, RMB2,448.7, RMB1,893.8 and RMB23,142.3, respectively.
Such financial results were primarily attributable to our adoption of franchise distribution model, whereby we maintained low fixed crafting fees when we sell to provincial-dealers and/or franchisees.
Business · p. 215
During the Track Record Period, our net profit margin remained relatively stable at 1.3%, 1.1%, 1.2% and 0.5% for the years ended December 31, 2021, 2022 and 2023 and the six months ended June 30, 2024, respectively.
Business · p. 216
According to Frost & Sullivan, our business model of high revenue but a relatively thin net profit margin is not uncommon among industry peers who also adopt a franchise distribution strategy.
Specifically, the average selling price of Jiouting decreased from RMB25.9 thousand per unit in 2021 to RMB11.9 thousand per unit in 2022, to RMB3.4 thousand per unit in 2023 and further to RMB2.9 thousand per unit in the six months ended June 30, 2024; the sales volume of Jiouting decreased from 9.5 thousand units in 2021 to 5.7 thousand units in 2022, and further to 4.8 thousand units in 2023 and amounted to 2.8 thousand units in the six months ended June 30, 2024.
Business · p. 376
As the selling price decreased in the second half of 2023, the sales revenue of Yinuojia decreased by 18.4% from RMB235.4 million in 2022 to RMB192.0 million in 2023. We expect that the average selling price of Yinuojia in 2024 will experience a substantial decrease.
Business · p. 374
To ensure the continued sale of our products in public hospitals, we chose to participate in the national VBP scheme for Jiouting, Yinuojia, and Jifuwei, whose compounds were selected by the national VBP scheme. We won the bid for each product, which showcased our competitiveness.
BMP bone repair materials are among such products listed in Clause 5 and therefore, are subject to the Price Regulation to be imposed by relevant local regulatory authorities.
Summary · p. 24
As advised by CIC, there is a possibility that the expected price decrease for rhBMP-2 products following the implementation of the Price Regulation could range from 10% to 25%, based on three instances of similar price regulation policies enacted by certain local authorities.
Summary · p. 24
To increase the commercial potential of Guyoudao and mitigate the negative impact of price restrictions on our financial performance, we have taken measures including (i) strengthening the sales and marketing efforts of Guyoudao and further increasing its sales volume, (ii) continuing to develop next-generation of rhBMP-2 products to sustain and strengthen our competitive edge, and (iii) actively tracking relevant policy development.
While we had sales growth, the average selling price of intelligent automotive lamps and high-end lighting products both decreased in the nine months ended September 30, 2024 which is expected to result in slower revenue growth compared to the increase in sales volume.
Summary · p. 26
In 2023, we adopted a competitive pricing strategy to gain greater market share in response to the intense market competition.
Financial Information · p. 363
The decrease in the gross profit margin of the advanced display business in the five months ended May 31, 2024 as compared to that of the same period in 2023 was primarily due to price adjustments on certain products.
In January 2023, Utidelone Injection was officially included in the 2022 NRDL and has been sold at an agreed price that was negotiated with the government since March 1, 2023, which alleviated financial burden on patients and expanded our market reach.
Summary · p. 16
If the ratio is between 110% and 200%, the reduction in NRDL prices will not exceed 15%.
Business · p. 365
In particular, based on our current estimation with reference to our sales, it is expected that the actual expenditure will be lower than budget expenditure and the ratio will be less than 110%, which could enable a drug negotiation agreement for the Utidelone Injection to be renewed without price reductions until the end of 2026 according to the Renewal Rules.
The average price of LFP cathode materials dropped to around RMB72.2 thousand per ton in 2023 and RMB37.4 thousand per ton in the first half of 2024 primarily attributable to drop in raw material prices, especially lithium carbonate.
Business · p. 254
the pricing of our LFP cathode materials is primarily based on the prevailing market prices of lithium carbonate listed on the SMM.
Business · p. 254
We generally discuss pricing of our LFP cathode material products with customers and make adjustments on a monthly basis aligned with raw material price trends.
Such an increase was partially offset by a decrease in gross profit margin from product solutions as we incurred higher procurement costs of bill of materials for processing hardware from 2021 to 2023 and adopted a more competitive pricing strategy on our early generation of product solutions to boost market share.
Summary · p. 17
We believe more advanced driving automation technologies allow us to charge a higher price.
We generally charge cloud service customers based on usage, and to a lesser extent, on a project basis.
Business · p. 294
In general, We adopt a holistic and case-by-case approach when formulating our service fees chargeable for our customers, taking into account various factors including but not limited to (i) types of services; (ii) market prices for similar services offered by our competitors in the audiovisual cloud services market; (iii) types of customers and their industries; (iv) market demand; and (v) our costs and profit margin.
Business · p. 294
In general, we set different unit prices for API calls based on their complexity.
ONECEM’s average selling price for its customized versions was approximately RMB416.1 thousand, RMB270.3 thousand, RMB255.0 thousand, RMB300.1 thousand and RMB239.8 thousand in 2021, 2022, 2023 and the three months ended March 31, 2023 and 2024, respectively.
Business · p. 235
The significant decrease from 2021 to 2022 was due to our proactive decrease in the number of complex projects undertaken given our ongoing efforts to advance SaaS transformation of ONECEM.
The decrease in the gross profit margin of our branded business from 2022 to 2023 was primarily due to our adjustment of our pricing strategy to place greater emphasis on high value for price to attract more customers and capture more market share.
Summary · p. 8
The decreases in the gross profit and gross profit margin of our ODM business from 2022 to 2023 were primarily because: (i) we lowered the prices of certain products, mainly our existing cookware products, in order to maintain competitiveness; and (ii) our bargaining power against customers decreased as we developed fewer new products due to our strategic diversion of resources away from our ODM business.
Summary · p. 8
When an increase or decrease in these costs or expenses is foreseen, we will adjust our sales strategy based on a target profit margin, working backwards to ensure that pricing and other sales tactics align with our profit goals.
As of the Latest Practicable Date, there was no pricing guidance or centralized procurement requirement set by the PRC government on our drug candidates.
Business · p. 366
In terms of pricing strategies for TY-9591, we plan to set a price with reference to, and not lower than, the price of osimertinib (namely, RMB4,966.2 per month).
Business · p. 366
However, inclusion into the NRDL is evaluated and determined by the relevant government authorities and we may face significant competition for successful inclusion.
However, automotive OEMs expect the selling prices of SoCs to decrease as sales volume increases, which could affect our gross profit margin.
Financial Information · p. 345
We subsequently offered the SoCs for Geely’s vehicle models at favorable prices, as we have been collaborating with Geely since the early stage of our commercialization, in expectation of long-term collaboration.
Over the Track Record Period, there has been a decreasing trend in the average selling prices of our in-vehicle infotainment system products mainly due to the increase in sales of universal navigation systems and smart vehicle boxes with lower unit prices primarily due to the group purchasing campaign service under our SaaS value-added service launched.
Summary · p. 3
In FY2023, there was an increase in the average selling price of our in-vehicle safety system products due to the increase in the sales volume of one of our rear-view mirror products with bigger display screen and having real-time video capability, hence having a higher unit price when compared with our previous generation of the rear-view mirror product, and this product was well received by the market through its promotion through our group purchasing campaign service.
However, such policies have indirectly impacted us by lowering the general market price of drugs subject to the centralized procurement scheme, which in turn has increased sales of these drugs.
Business · p. 299
Although the prices of these drugs were lowered to different extents as an indirect result of such centralized procurement policies during the Track Record Period, we did not experience any significant decrease in our gross profit margin as a result of such price changes during the same period, primarily because (i) only a portion of the SKUs on our platform were affected by centralized procurement policies; and (ii) the impact of any price reductions resulting from the inclusion of these drugs in the centralized procurement scheme is generally offset by decreases in our procurement costs and changes in demand for these SKUs.
Business · p. 299
In addition, we will continue to monitor the development of centralized procurement policies and negotiate with our suppliers for price adjustments compensation for relevant drugs where appropriate, so as to maximize our profitability.
During the Track Record Period and up to the Latest Practicable Date, all of the residential properties under our management were subject to price control under relevant laws and regulations.
Summary · p. 4
As such, the basic monthly residential property management service fees that we charged during the Track Record Period were subject to a price cap of RMB2.2 per sq.m.
Business · p. 209
During renewal negotiations for our service agreements, we may raise our fee rates as a condition precedent for continuing our services.
However, for its Infrastructure Construction Services projects, the Ministry of Industry and Information Technology of the PRC would issue various notices from time to time which set out standard rates for different types of works to be performed, and the Group’s customers would also set out benchmark prices for the relevant projects which the Group would use as reference when determining its bid/offer prices for projects under this business sub-segment.
Business · p. 198
However, when determining the offer price, the Group would generally consider various factors such as price trends to guard against material fluctuations in the costs of procurement.