In addition, prior to November 2021, our pricing policy lacked price adjustment mechanism, partially due to our lack of bargaining power as a new entrant of the industry, as well as the fact that the prices of key raw materials have not experienced significant increases of similar scale.
Business · p. 286
As of the Latest Practicable Date, all our previous fixed price framework sales agreements have been completed, and we had not entered into any new framework sales agreement without price adjustment mechanism since then.
Business · p. 279
However, there is no guarantee that we could manage to fully mitigate the impact from raw material prices fluctuations.
During the Track Record Period and up to the Latest Practicable Date, our products were not subject to any price control regulations by the PRC governmental authorities.
Business · p. 269
We adopt daily pricing with reference to major factors such as prevailing market conditions, prices set by slaughtering companies and wholesale meat markets, our current inventory and prediction of future market conditions, policy trends and epidemic situation.
Business · p. 269
We set a minimum purchase price for our pigs on our Dekon Group Pig Selling System every day.
During the Track Record Period, there was a general decreasing trend of the average selling prices for our hydrogen fuel cell stacks and hydrogen fuel cell systems products, which was in line with the industry trend as confirmed by Frost & Sullivan.
Financial Information · p. 396
We consider various factors, such as prevailing market prices and conditions, costs of production, years of business relationship, government awards policy and expected margins, when pricing our products.
Our average effective interest rate charged on newly entered finance lease agreements was at 20.5%, 19.4%, 18.5% and 18.7% for the years ended 31 December 2020, 2021, 2022 and the six months ended 30 June 2023, respectively.
Financial Information · p. 335
According to CIC, the effective interest rates per annum charged by RAFLCs in China in 2022 fell in the range of between 5% and 24%, thus the average effective interest rate charged by our Group for newly entered finance lease agreements per annum of 18.5% in 2022 was in line with the industry norm.
In 2019, 2020, 2021, 2022 and the six months ended June 30, 2023, the average selling price of vending machines sold was RMB12,071, RMB9,739, RMB7,749, RMB7,130 and RMB5,286, respectively.
Business · p. 267
The average selling price of vending machines sold further decreased in the first half of 2023 primarily because (i) the proportion of pick-and-go cabinets with relatively lower selling prices among the vending machines sold increased in the same period, and (ii) the vending machines sold in the same period were mainly old version machines with discounted prices.
We set the retail prices for our products at the headquarters level, which our franchisees are required to adhere to.
Business · p. 171
We conduct thorough market research to set the prices of our products, taking into account a number of factors including the specific situation of different regions such as local consumer purchasing power and preferences, as well as procurement costs and our target profit margin.
Business · p. 171
In terms of pricing for products we sell to our franchisees, we set a uniform selling price for each product, which applies to all franchises across our network.
The decline in gross margin from 2021 to 2022, as well as the decline in the six months ended June 30, 2023, was mainly due to (i) our strategic pricing adjustment for certain e-commerce platform customers to reinforce our relationship with them, (ii) generally increased costs due to inflation, and (iii) additional costs in relation to new customer relationship acquisition.
Business · p. 212
We expect to maintain a competitive but sustainable average revenue per parcel.
Under the self-run model for marketing and operating game products authorized by third party game developers, the service fee we were entitled to receive as a percentage of the total gross billings generally ranged between 60% and 94% during the Track Record Period, with an average service fee of approximately 82%.
Summary · p. 5
After the collaborating distribution channels deduct the agreed-upon portion they were entitled to, the service fee we were entitled to receive (excluding the portion our game developer clients are entitled to) as a percentage of the total gross billings generally ranged between 2% and 42% during the Track Record Period, with an average service fee of approximately 20%.
Summary · p. 5
According to Frost & Sullivan, the aforementioned factors we take into consideration in determining the percentage of service fee, and the average service fees we were entitled to as a percentage of gross billings during the Track Record Period, are in line with the market practice.
However, the China Average Composite Containerized Freight Index had decreased significantly by over 50% since the second half of 2022, which decreased significantly to 918.9 in June 2023 as compared to 2,483.6 and 3,228.4 in June 2021 and 2022, respectively, on a monthly basis.
Summary · p. 33
As we did not provide self-operated cross-border seaborne transportation in the four months ended April 30, 2023, our overall average price per TEU during this period decreased to approximately RMB4,100.
Business · p. 230
Our financial performance, revenue in particular, of cross-border logistics services is primarily driven by service volume, which is dependent upon the availability of our resources and market demand, as well as the price per TEU, which is, in turn, dictated by market demand as we generally follow a market-based pricing model.
We will face pricing pressure for our BsAb drug candidates due to fierce competition in the market.
Summary · p. 21
However, for a pharmaceutical product to be included on the NRDL, a ceiling of such product’s reimbursable amount under the national medical insurance will be determined based on negotiation with the government.
Summary · p. 21
To navigate through such pricing pressure and competition, we (i) develop our Core Product, M701, with differentiated market positioning for the treatment of MA and MPE, (ii) develop stable, high-yield processes under our technology platforms, including YBODY^®^, Check-BODY and Nano-YBODY^™^, to produce high-purity BsAb, (iii) maintain clinical dosages of our drug candidates at the microgram or milligram level with our high-yield CMC process, ensuring that each treatment course requires minimal medication quantities, thus lowering costs of treatment of our drug candidates and balancing patient affordability with our profitability, and (iv) seek strategic collaborations and contract part of our manufacturing process to CMOs/CDMOs to reduce upfront investment costs.
As of December 31, 2020, 2021 and 2022, the number of projects that were subject to government guidance price was 17, 19 and 20, respectively, with an aggregate GFA under management of approximately 3.5 million sq.m., 4.3 million sq.m. and 4.4 million sq.m., respectively, contributing to an aggregate property management services revenue of approximately RMB39.3 million, RMB53.3 million and RMB52.2 million in 2020, 2021 and 2022, respectively, which accounted for approximately 21.5%, 26.0% and 23.3% of our total revenue from property management services during the same years, respectively.
Business · p. 233
During the Track Record Period, the property management fees charged by us complied with the relevant PRC laws and regulations in relation to such pricing control. We expect that pricing controls on residential properties will relax over time as relevant local authorities pass regulations to implement the Circular.
Where there is an increase in costs due to circumstances beyond our control, such as increases in our heat procurement costs, changes in laws, rules or government regulations or orders, or force majeure events, we may apply to the relevant pricing authority for an adjustment of our heat rates.
Business · p. 259
Such monthly heat rate adjustment was made following a cost review and price hearing by the same bureau in response to increases in the cost of heat procurement in recent years.
Business · p. 259
In 2018, we applied to adjust upwards the heat rates for our Hulunbuir Project and our application was approved by Hailar District People's Government* (海拉爾區人民政府) in August 2018 after a public consultation had been conducted.
It took effect from 1 March 2021 and provided that by 2025, among other things, (i) the right to charge for interface fees, centralised network construction fees, grid connection fees and other similar fees (including pipeline connection fees) by urban centralised heat service enterprises in northern heating areas from their users shall be cancelled if there is no legal and effective policy basis to charge these fees;
Business · p. 261
For the years ended 31 December 2020, 2021 and 2022, revenue from pipeline connection fee was approximately RMB65.4 million, RMB74.2 million and RMB83.7 million, representing approximately 4.8% and 5.7% and 5.8% of our total revenue for the same periods respectively.
Business · p. 260
We therefore do not expect the cancellation of such right pursuant to Guo Ban Han No. 129 will (taking a holistic view) have any material adverse impact on our overall financial position.
Pursuant to the Opinions on Promoting Further Reform of the Healthcare System (《中共中央、國務院關於深化醫藥衛生體制改革的意見》), the PRC government and its local counterparts set the benchmark for the price of certain of our testing services.
Business · p. 191
For such services with benchmark prices, our prices are tied to the price benchmark with adjustment made to competitors’ pricing, our production costs and service premiums.
During the Track Record Period, the average sales value of our devices was RMB1,568, RMB1,573 and RMB1,091 in 2020, 2021, and 2022, respectively.
Business · p. 194
The average sales value of our devices decreased during the Track Record Period was primarily because (i) we encouraged our existing customers for installment sales to switch to pay-as-you-go office IT integrated solution subscription; and (ii) we strategically expanded sales of surplus or less popular devices through Epaiji platform to improve operational efficiency.
During the Track Record Period, the average selling price for our biodegradable plastic products ranged from approximately RMB33.5 per kg to RMB34.9 per kg.
Financial Information · p. 347
Historically, market prices of our products fluctuated.
Financial Information · p. 347
The following table demonstrates the impact of a hypothetical change in the average selling price of our products on our net profit during the Track Record Period, with all other factors remain constant.