In June 2021, we provided a loan to Beijing Yuanfeng with a maximum aggregate limit of RMB20.0 million, accruing interest at an annual rate of 2%.
Financial Information · p. 336
Our net impairment losses on financial assets consist primarily of impairment losses or reversals of such losses recognized on loan and other receivables from Beijing Yuanfeng Technology Co., Ltd. (“Beijing Yuanfeng”), a related party in which we currently hold a 36% equity interest, and Beijing Jianwu Zhongyuan Technology Co., Ltd. (“Beijing Jianwu”), an entity in which we currently hold an 18% equity interest as we deemed these loan and other receivables uncollectable due to the severe financial difficulties faced by these entities.
Financial Information · p. 324
Our Directors are of the view that each of the material related party transactions set out in Note 32 to the Accountants’ Report included in Appendix I to this Prospectus was conducted on an arm’s length basis and would not distort our track record results or make our historical results not reflective of our future performance.
Our Group had an outstanding balance due from related parties of RMB39.0 million, RMB32.5 million and nil as at 31 December 2022, 2023 and 2024, respectively.
Financial Information · p. 370
In FY2022, to address the financial needs of Xiamen Rongxin to acquire the Shares from Xiamen Yijiayi and Xiamen Shangzhi Lianyao, our Group granted five short-term loans to Xiamen Rongxin of approximately RMB33.1 million in aggregate, and one short-term loan to Mr. Xu Kaiming of RMB6.5 million.
Financial Information · p. 378
In March 2024, pursuant to a loan settlement agreement entered into between our Company and Xiamen Rongxin, (i) the amount due from Xiamen Rongxin to our Group of RMB32.5 million was offset by share repurchase and capital reduction, and (ii) the balance of remaining RMB43,000 was settled by bank transfer.
Other receivables was a loan to a shareholder and was collected in December 2023.
Financial Information · p. 437
Our Directors confirm that the related party transactions set out in Note 28 to the Accountants’ Report in Appendix I to this prospectus were conducted in the ordinary course of business on arm’s length basis and with reference to the normal commercial terms of each party.
During the Track Record Period, we entered into a number of related party transactions mainly with companies in which we invested, including primarily purchase of personal protection equipment and masks manufactured by such a company for sale to our consumers.
Financial Information · p. 391
Our Directors are of the view that each of the related party transactions set out in Note 43 to the Accountants' Report in Appendix IA to this Prospectus was conducted on an arm's length basis and would not distort our track record results or cause our historical results to be not reflective of our future performance.
During the Track Record Period, we had entered into certain related party transactions, details of which are set out in Note 34 to the Accountants' Report in Appendix I to this prospectus.
Financial Information · p. 389
All of our related party balances as of December 31, 2022, 2023 and 2024 were trade in nature.
Financial Information · p. 390
Our Directors confirm that all of our related party transactions during the Track Record Period set out in Note 34 to the Accountants' Report in Appendix I to this prospectus were conducted on an arm's length basis and would not distort our results of operations or make our historical results not reflective of our future performance.
Historically, we operated certain restaurants owned by our connected persons pursuant to our cooperation agreements with such parties.
Business · p. 166
Our amounts due from related parties decreased to nil as of December 31, 2024 due to the termination of cooperation agreements with our connected persons following the acquisition of Hangzhou Greentea and its subsidiary on December 25, 2024.
Financial Information · p. 298
Our Directors believe that the related party transactions were carried out on an arm's length basis and will not distort our results during the Track Record Period or make such results not reflective of our future performance.
As of December 31, 2022, 2023 and 2024, we had four, 12 and 18 franchisees that were our former employees, and five, 23 and 53 of our franchised stores were beneficially owned by such persons.
Business · p. 178
Such connected persons included Mr. Shan Guohua (單國華) (brother of Mr. Shan, our executive Director and Controlling Shareholder), Ms. Lin Hong (林紅) (cousin of Ms. Zhou, our executive Director and Controlling Shareholder), Mr. Zhou Zishuo (周子碩) (nephew of Ms. Zhou, our executive Director and Controlling Shareholder) and Ms. Zhou Jia (周佳) (cousin of Ms. Zhou, our executive Director and Controlling Shareholder).
Business · p. 178
The franchise arrangements and supply agreements that we entered into with these franchisees are entirely identical to those with any other independent franchisees.
During the Track Record Period, we recorded revenue of RMB51.6 million from product sales to associated distributors who subsequently resold these products to end users related to us through our minority Shareholders in 2024, accounting for 8.1% of our total revenue for the same year.
Business · p. 235
These agreements are on normal commercial terms, negotiated on an arm's length basis and there are no material differences between the salient terms of these agreements.
Business · p. 235
Our Directors are of the view that each of the material related party transactions set out in Note 32 to the Accountants' Report included in Appendix I to this Prospectus was conducted in the ordinary course of business on an arm's length basis and with normal commercial terms between the relevant parties.
For FY2021, FY2022, FY2023 and 9M2024, Mr. Santony, Mr. George Santos and his associates were our largest supplier of raw materials and our major supplier of bauxite.
Business · p. 215
The average price of bauxite we purchased from and/or through Santony and Related Parties are generally in line with or lower than that from Independent Third Party.
Financial Information · p. 361
During the Track Record Period, we have purchased bauxite in Indonesia locally from the associates of Mr. Santony. Our Directors expect that the transactions with the associates of Mr. Santony and Mr. George Santos in relation to the purchase of bauxite, coal, other raw materials and others shall continue upon Listing.
During the Track Record Period, Nanshan Aluminium, together with its subsidiaries, have provided our Group with on-site technical maintenance and know-how support services via secondment of selected staff.
Summary · p. 23
The balance due from related parties were non-trade in nature, unsecured, interest free and had no fixed term of repayment, and are expected to be settled upon Listing.
Financial Information · p. 347
Our Directors confirm that these transactions were conducted in the ordinary and usual course of our business and were on normal commercial terms or better which were fair and reasonable and in the interests of our Company and our Shareholders as a whole.
During the Track Record Period, we purchased investigational medicinal products as well as R&D services primarily from our related parties, and entered into agreements, in accordance with published prices and conditions agreed by us and the related parties.
Financial Information · p. 453
Our amount advanced to a related party, as non-current asset and of trade nature, increased from nil as of December 31, 2022 to RMB39.2 million as of December 31, 2023 and remained the same as of September 30, 2024, as we made a payment of RMB39.2 million to Ascendis Pharma for relevant drug products in November 2023 pursuant to the Commercial Supply Agreement entered in October 2023.
Financial Information · p. 444
Our Directors confirm that our related party transactions during the Track Record Period were conducted on an arm's length basis, and that such transactions, in the aggregate, would not distort the results of operations over the Track Record Period or make the historical results over the Track Record Period not reflective of our expectations for future performance.
The amounts due to related parties and outstanding balances with related parties include lease fees and property fees payable to Beijing Eagleleap and interest-bearing fund loans payable to the member of the Single Largest Shareholder Group, Ms. Li Jinyang, which is to maintain our daily operation.
Financial Information · p. 555
The non-trade outstanding balances with related parties, which was the loan of RMB1,074.2 million from the Single Largest Shareholder Group, was fully repaid in January 2024.
Financial Information · p. 555
Our Directors confirm that these transactions were conducted on arm’s length basis and entered into in the ordinary course of business and would not distort our track record results or make our historical results not reflective of our future performance.
In 2021, 2022 and 2023 and for the six months ended June 30, 2024, the amount of purchase from Daide Power Machinery was RMB52.1 million, RMB14.7 million, nil and nil, respectively.
Financial Information · p. 355
Such centralized procurement arrangement was terminated in 2023.
Business · p. 243
The termination of such centralized procurement arrangement has no impact on our financial and operational performance.
During the Track Record Period, our transactions with related parties of trade nature primarily included transactions with our then-associate, WTC, mainly in relation to the technology services we procured from it, and transactions with certain related parties mainly reflecting our procurement of raw materials from them.
Financial Information · p. 367
As of June 30, 2024, our balances with related parties were nil.
Financial Information · p. 368
It is the view of our Directors that our transactions with related parties during the Track Record Period was conducted on an arm’s length basis and with normal commercial terms between the relevant parties.
As of December 31, 2021, 2022 and 2023, we recorded amounts due to related parties as loan payables of RMB18.7 million, RMB44.7 million and RMB25.9 million, respectively, which were unsecured, interest-free and repayable on demand.
Financial Information · p. 310
Those loans were mainly used for general corporate purposes and were of non-trade nature, which was fully repaid in April 2024.
Financial Information · p. 310
Our Directors confirm that these transactions were conducted at arm's length basis.
Our average turnover days of trade receivables attributable to related parties further increased to 106.7 days for 6M2024, mainly due to the increase in past due trade receivables of Related Party A.
Financial Information · p. 451
Other receivables from related parties included temporary payment on behalf of related party which was incurred before our acquisition of Anhui Haicui and was subsequently settled as at the Latest Practicable Date.
Financial Information · p. 452
With respect to the related party transactions set out in the Accountants’ Report in Appendix I to this prospectus, our Directors confirm that all related party transactions during the Track Record Period were conducted on normal commercial terms that are reasonable and in the interest of our Group as a whole.
During the Track Record Period, we entered into transactions with certain of our related parties, such as taking deposits from, extending credit facilities to, and providing other banking services to, the related parties.
Financial Information · p. 518
These transactions were conducted on normal commercial terms and in the ordinary course of our business.
Financial Information · p. 518
We believe that these related party transactions were carried out on an arm's-length basis and would not distort our results of operations during the Track Record Period or cause such results not to be reflective of our future performance.
The amounts due from related parties and due to related parties are all non-trade in nature unsecured, interest-free and repayable on demand as of each of the dates indicated in the table above.
Financial Information · p. 476
We settled all outstanding balances with related parties as of the date of this Prospectus, and do not intend to incur further such transactions after Listing.
We have entered into a number of non-exempt continuing connected transactions with iFlytek, including: (i) Services and Products Procurement Framework Agreement, (ii) Products Provision Framework Agreement, and (iii) Bidding Cooperation Agreement.
Summary · p. 20
Our Directors believe that our transactions with related parties during the Track Record Period were conducted on an arm’s-length basis, and they did not distort our results of operations or make our historical results not reflective of our future performance.