As of December 31, 2019, 2020, 2021 and 2022, our trade receivables from related parties was nil, RMB28.7 million, RMB38,000 and RMB38,000, respectively.
Financial Information · p. 467
As of December 31, 2022, we recorded amount due to a related party in the amount of RMB15.9 million, which represented the fees payable to W&V in relation to our celebrity IP management services provided to brand owners or the MCN Company (as the case may be) which commenced in 2022.
Financial Information · p. 468
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.
In 2017, we provided an interest-free, unsecured loan amounting RMB3.0 million to one of the management with a term of one year, which was later extended to December 31, 2021. The loan was repaid during the year ended December 31, 2020.
Financial Information · p. 323
We repurchased certain Series E Preferred Shares held by an entity wholly owned and controlled by Mr. Wang Ning, our founder, chairman of the board of Directors and chief executive officer of our Company, for a total consideration of RMB22 million.
Financial Information · p. 323
Our Directors believe that our transactions with the related parties during the Track Record Period were conducted in the normal course of business and 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.
We transferred our cell therapy programs to Kelun Group in December 2022 to focus on the research and development of our pipeline assets.
Financial Information · p. 540
Our trade-related amounts due from related parties, including Kelun Group and Kelun Medicine & Trade Group, increased from RMB22.6 million as of December 31, 2021 to RMB61.8 million as of December 31, 2022, primarily in relation to the transfer of cell therapy programs to Kelun Group in 2022.
Financial Information · p. 543
As of April 30, 2023, RMB47.6 million, or 77.0% of our amounts due from related parties as of December 31, 2022 had been subsequently settled.
Amounts due from a shareholder as of each balance sheet date represent the balance of cash advances that are interest-free, non-trade related, unsecured and repayable on demand. These balances will be settled upon the Listing.
Financial Information · p. 275
Our Directors believe that our transactions with the related parties during the Track Record Period were conducted in the normal course of business and 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.
We provided an eight-year unsecured and non-interest-bearing loan of RMB11,127,000 and a ten-year unsecured and non-interest-bearing loans of RMB12,847,000 to Ms. Zhang Lele in December 2021 and December 2022, respectively.
Financial Information · p. 426
We provided these loans as part of our efforts to retain and motivate employees and such loans are available to all eligible employees who are part of the Pre-IPO Equity Incentive Plan.
Financial Information · p. 426
The loans to related parties are non-trade in nature and will not be settled prior to Listing.
During the Track Record Period, we entered into a number of transactions with related parties.
Financial Information · p. 326
As of March 31, 2023, we have settled all amounts due from and due to shareholders.
Financial Information · p. 326
We are of the view that our transactions with related parties during the Track Record Period were trade in nature and were conducted on an arm's-length basis and with normal commercial terms between the relevant parties.
(iii) due from related parties, mainly comprising (a) receivables due from International Far Eastern Leasing Co., Ltd. and Shanghai Horizon Construction Investment Co., Ltd. arising from certain infrastructure projects and (b) outstanding balance of deposits we placed with International Far Eastern Leasing Co., Ltd. and Shanghai Horizon Construction Investment Co., Ltd. pursuant to certain fund pool contracts;
Financial Information · p. 378
which was partially offset by a decrease in amount due from related parties of RMB192.6 million mainly attributable to repayment of deposits we placed with International Far Eastern Leasing Co., Ltd. and Shanghai Horizon Construction Investment Co., Ltd. as we terminated the fund pool contracts in 2021.
Financial Information · p. 379
All loans, advances, non-trade balances due to and from the related parties are expected to be settled before the Listing.
During the Track Record Period, our transactions with related parties mainly consisted of (i) interests income received from one of our Controlling Shareholders; and (ii) certain transactions with Guangzhou Cema.
Financial Information · p. 390
As at 28 February 2023, we had amounts due to related parties of RMB1.5 million, representing a daily working capital loan which was non-trade in nature, unsecured, interest-free, repayable on demand and provided by Mr. Sun to us.
Financial Information · p. 390
Our Directors believe the terms of our transactions with related parties were negotiated on normal commercial terms and in the interests of the Company and its shareholders as a whole.
For the years ended 30 June 2020, 2021 and 2022 and the four months ended 31 October 2022, the total purchases from such related parties amounted to approximately HK$12.1 million, HK$9.1 million, HK$4.7 million and HK$2.5 million, respectively.
Financial Information · p. 332
For the materials purchased from our related parties during the Track Record Period, we obtained quotations from one to two other Independent Third Parties and compared the terms of the quotations.
Financial Information · p. 332
Based on the above, our Directors confirmed that (i) all these related party transactions were conducted on normal commercial terms and/or that such terms were no less favourable to our Group than terms offered by other Independent Third Parties and were fair and reasonable and in the interest of our Group and our Shareholders as a whole
For details about our related party transactions during the Track Record Period, please see Note 36 of Appendix I to this prospectus and “Business — Our Core Product and Clinical-Stage Product Candidates — 2. K3 — License, Rights and Obligation” in this prospectus.
Financial Information · p. 400
Our Directors believe that our transactions with the related party 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.
In September 2022, as Mr. Wu determined to focus more on liquor business instead of liquor-related supply chain business, Yunnan Huapeng disposed its entire equity interests of Xiangtan Huapeng to Huanan Huashi Packaging Co., Ltd. (湖南華世包裝有限公司, “Hunan Huashi”), which was controlled by Mr. Chen Yanglai, the consideration of which amounting to RMB12 million was determined after arm’s length negotiation between Yunan Huapeng and Hunan Huashi with reference to, among others, the net assets of Xiangtan Huapeng and was considered as fair and reasonable (the “Disposal”).
Financial Information · p. 307
Before and after the Disposal, our Group has been purchasing packaging materials of baijiu products from Xiangtan Huapeng and Guizhou Huashi based on arm’s length negotiation through public tender and bidding process with other third party suppliers.
Financial Information · p. 307
The terms offered by Xiangtan Huapeng and Guizhou Huashi to our Group are no less favorable than the terms available from Independent Third Parties.
Amounts due from related parties represent cash advances to Huaze Group, which are non-trade in nature.
Financial Information · p. 297
During the Track Record Period, we recorded such amounts due from related parties of RMB1,665.0 million, nil and nil as of December 31, 2020, 2021 and 2022, respectively.
The RMB0.3 million due from related parties in 2020, 2021 and 2022 was non-trade in nature and represented loans to Shanghai Meiyue, one of our former employee equity incentive platforms.
Financial Information · p. 405
Our Directors are of the view that each of the related party transactions set out in Note 29 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.
As of March 31, 2019, 2020, 2021 and 2022 and six months ended September 30, 2022, balances with such related party were RMB100.0 million, RMB100 million, nil, nil and nil, respectively.
Financial Information · p. 318
During the Track Record Period, we also paid compensation to our key management members, including executive directors and other members of our Company’s senior management team, who are considered as related parties of our Company.
Financial Information · p. 318
Our Directors are of the view that each of these related party transactions was conducted in the ordinary course of business on an arm’s length basis and with normal commercial terms between the relevant parties.
The amount due is non-trade in nature, unsecured, interest-free and repayable on demand.
Financial Information · p. 388
Our other receivables further decreased to approximately RMB0.6 million as at 31 December 2021 mainly due to the amount due from Jiyuan Biotechnology of approximately RMB24.6 million was fully settled in FY2021.
Financial Information · p. 388
Save for the transactions between our Group with our connected parties, none of the related party transactions set out in note 26 to the Accountants' Report in Appendix I to this prospectus will continue after the Listing.
Our Directors have confirmed that all the aforementioned related party transactions in ordinary and usual course of business during the Track Record Period were conducted on arm’s length basis.
Financial Information · p. 342
For the years ended December 31, 2019, 2020 and 2021 and the nine months ended September 30, 2021 and 2022, we recognized revenue from Powerwin Tech Pte, a company incorporated in Singapore and a related party owned by Mr. Li and Ms. Yu, in the amount of nil, US$18,000, US$20,000, US$14,000 and nil, respectively, which accounted for nil, 0.2%, 0.1%, 0.1% and nil of our total revenue for the respective periods.
Financial Information · p. 342
During the Track Record Period, we had procured from Shenzhen Yingbaotong, a related party controlled by Mr. Li prior to its deregistration in 2021, certain auxiliary services for cross-border digital marketing, such as server, content production, account management and customer services, at a service fee covering all such relevant services which amounted to US$0.8 million, nil, nil, nil and nil for the years ended December 31, 2019, 2020 and 2021 and the nine months ended September 30, 2021 and 2022, respectively.
Relevant costs paid to the related parties in total amounted to approximately RMB25.1 million, RMB30.2 million, RMB92.9 million and RMB62.3 million for FY2019, FY2020, FY2021 and 3Q2022, respectively.
Financial Information · p. 506
Following the Demerger resolved on 8 May 2019, certain assets including most of our investment properties were transferred from Zhongtian Construction to Puhui Commercial at their respective net book values as at 2 July 2019.
Financial Information · p. 507
During the Track Record Period, we also used funds from our related parties for our business operation. Upon Listing, the outstanding amounts due to our related parties will be settled or assigned to Independent Third Parties in full before or upon Listing.
In addition to the share-based remuneration we awarded to our employees and Directors, we also recorded share-based payments to Good Taste Limited, one of our Controlling Shareholders, for the guarantee that it provided in connection with a three-year, RMB210.0 million bank facility that we entered into in October 2019, which we repaid early in full in March 2022.
Summary · p. 13
The total fees paid to Good Taste Limited were RMB4.4 million, RMB16.9 million, RMB16.1 million and RMB12.5 million in 2019, 2020, 2021 and 2022, respectively.
Summary · p. 13
We have fully repaid the balance of such bank borrowings by the end of March 2022.
Our amounts due to related parties primarily represented (i) crew manning expenses and materials purchase fees payable by us to our related parties for their provision of crew manning services and purchases of materials; (ii) the purchase price for some of our controlled vessels that Guo's Controlled Companies had settled on our behalf; and (iii) current account balances between us and Guo's Controlled Companies.
Financial Information · p. 471
Such amounts due from our related parties have been fully settled as at the Latest Practicable Date.
Financial Information · p. 471
Our Directors confirm that these transactions (i) were conducted in the ordinary and usual course of business and on normal commercial terms or such terms that were no less favourable to us than those available to Independent Third Parties, and (ii) did not distort our Track Record Period results or make our historical results not reflective of our future performance.