To the best knowledge of our Directors, during the Track Record Period, all of our five largest customers were Independent Third Parties except for Qilu Hydrogen, one of our associates.
Business · p. 295
The contract amount of our sales to Qilu Hydrogen was RMB119,950,000 (including the value-added tax of RMB13,800,000), of which, RMB82,266,000 was recognized as revenue generated from the sales of equipment of hydrogen liquefaction and the storage and transportation of liquid hydrogen for the year ended December 31, 2023.
Business · p. 308
Considering (i) the publicity, fairness and independence of public tendering activity of Qilu Hydrogen, and (ii) our overall rating given by the tender review committee, we believe that our relationship with Qilu Hydrogen had no material impact in the tender process of the Integration Project.
In 2010, Epistar Corporation became a shareholder of Advanced Photoelectronic, a member of our Controlling Shareholder Group.
Business · p. 272
As of the Latest Practicable Date, Epistar Corporation and its subsidiaries, Lighting Investment Corporation and Lighting Investment Ltd., owned approximately 21.47% of Advanced Photoelectronic.
Business · p. 272
During the Track Record Period, the purchase prices of raw materials from Epistar Corporation generally aligned with those of similar raw materials from other manufacturers in the PRC.
Save as disclosed above, as of the Latest Practicable Date, none of our Directors, their associates or any shareholders which, to the best knowledge of our Directors, owned more than 5% of our issued share capital as of the Latest Practicable Date, had any interest in any of our top five customers.
In particular, our largest customer for each of the years ended 31 December 2020 and 2021 was Digital Guangxi, which is our related party, while our largest customer for each of the year ended 31 December 2022 and the four months ended 30 April 2023 were independent third parties.
Summary · p. 4
The revenue generated from services provided to Digital Guangxi for the years ended 31 December 2020 and 2021 amounted to RMB50.4 million and RMB46.8 million, representing 24.4% and 23.2% of our total revenue for the corresponding year, respectively.
Business · p. 216
As at the Latest Practicable Date, we do not have any ongoing projects nor undergo pre-tendering or tendering of any potential projects with Digital Guangxi.