Hong Kong IPO disclosure precedents · 172 companies, 193 items
revenue recognised through consignment, sales agents or intermediaries, ODM sales under customers' brands, a trading business alongside the main one, brand customers directing their designated suppliers to buy from the company, resale of procured materials
During the Track Record Period, our revenue derived from sales of intralogistics equipment and parts amounted to RMB229.5 million, RMB304.5 million, RMB315.2 million, and RMB137.8 million in 2020, 2021 and 2022, and the four months ended April 30, 2023, respectively.
Business · p. 213
With our established procurement and sales channels, we trade new and used intralogistics equipment to match requirements of customers in China, which helps increase the customer adherence, and attract new customers to our intralogistics equipment subscription business segment and maintenance and repair business segment.
Our business relationships with such customers are of a buyer/seller nature. The risks and ownership of relevant equipment and/or parts were transferred to such customers upon acceptance.
Business · p. 218
Such customers did not have a legal right to return products to the Company except for product defects.
Business · p. 218
Based on the best knowledge of our Directors, relevant trading companies procured equipment and/or parts primarily to satisfy their own intralogistics need, including movement of goods and material.
In 2019, 2020, 2021, 2022 and the six months ended June 30, 2022 and 2023, mobile device distribution services contributed 2.2%, 7.3%, 14.5%, 6.4%, 4.0% and 5.6% of our total revenue, respectively.
Business · p. 268
Upon receiving orders from mobile device resellers, we purchase mobile phones or accessories from mobile phone manufacturers, and then sell them to the resellers.
Business · p. 269
We enter into framework agreements with authorized resellers, pursuant to which the authorized resellers, acting as our buyers rather than agents, purchase mobile phones or accessories from us while we deliver the products.
Leveraging such procurement sources, in late 2021 we started to supply certain imported food ingredients, mainly including shrimp and beef, to our suppliers as well as certain food wholesalers, which contributed to the increase in the revenue from sales of other products from RMB494.7 million in 2021 to RMB992.5 million in 2022 and from RMB238.5 million for the four months ended April 30, 2022 to RMB263.0 million for the same period in 2023.
Business · p. 190
However, we expect the concentration on top customers to remain low, and to generate the vast majority of our revenue from individual customers.
Business · p. 190
In addition, as we procure a large volume of raw materials as a group and able to negotiate for favorable pricing and quality assurance, we also procure additional amount of food ingredients, such as beef and lamb, from external suppliers of raw ingredients, and sold a portion of these raw materials to our suppliers of finished products.
We accounted for the parcel volume they delivered under our brand and we charged network service fees and delivery services fees from the SEA entities.
Business · p. 200
In 2020, around 25% of the parcels in Southeast Asia were from unconsolidated regional operating entities who were our customers.
Business · p. 228
Network partners then pay us (together with consolidated regional operating entities) fees for transit and delivery.
The IT services providers may (i) assign us all or part of their project works to the end users by engaging us for the provision of integrated IT solutions services; or (ii) purchase hardware and software, and standalone IT services from us.
Summary · p. 4
In respect of our arrangements with IT services providers, our Directors are of the view that, which is also supported by the F&S Report that, it is not uncommon in the IT solutions market that IT services providers assign their project works, in whole or in part, to other market participants.
In 2020, 2021, 2022 and in the three months ended March 31, 2022 and 2023, revenue generated from such solution partner customers accounted for 85%, 57%, 68%, 67% and 78% of our total revenue, respectively.
Business · p. 233
As such, we do not believe that the solution partners are our distributors, and we do not believe that our business relationship with them raises any concern in relation to inventory risk, cannibalization or recoverability of accounts receivables.
Qipeilong is an auto part trading platform we built to serve the procurement needs of automotive service stores within and outside of our store network.
Summary · p. 5
Through Qipeilong, we provide two types of services, namely instant procurement service and facilitation services.
Summary · p. 5
Trade receivables from franchised Tuhu workshops arise when our franchised Tuhu workshops use Qipeilong platform to source products that are not available in our regional distribution centres for future end-customer orders.
Aiming to provide well-rounded services to our customers, and as a supplement to our ICL business, we started to sell medical products to our own laboratories and third-party customers, primarily medical institutions in 2010.
Business · p. 191
During the Track Record Period, revenues generated from sales of medical products amounted to RMB228.5 million, RMB234.7 million and RMB459.9 million in 2020, 2021 and 2022, respectively, representing 8.3%, 6.9% and 9.5% of our total revenues in the same years, respectively.
We sell offline to business customers who purchase our products and then sell to downstream businesses through their own online platforms or offline channels.
Business · p. 202
During the Track Record Period, revenue from our offline business customers represented 5.9%, 4.0% and 2.1% of the revenue of our Self-operation Business for the years ended 31 December 2020, 2021 and 2022, respectively.
Business · p. 203
With respect to offline allocation channels business, we generally allow a credit term of 30 to 90 days.
We also distributed two commercialized products developed by overseas collaboration partners.
Summary · p. 1
In addition to the product candidates listed below, we also entered into agreements for the distribution and marketing of CUP-MNDE and CUP-SFJH in Mainland China.
Business · p. 267
Although CUP-MNDE and CUP-SFJH are late entrants to the market, sales of CUP-MNDE and CUP-SFJH in 2022 amounted to RMB9.2 million in aggregate.
During the Track Record Period, we generated the revenue from standardized digital marketing services on a net basis whereby (i) we charge gross billing to our marketers and extend applicable incentives (if any) to them, net result of which is regarded as our “net billing”; and (ii) we place gross spending with media publishers’ platforms and receive applicable rebates (if any) from media publishers (or their resellers or agents), net result of which is regarded as our “net spending”.
Business · p. 176
Under the relevant accounting principles, in determining whether the revenue from standardized digital marketing services should be reported on a net basis as opposed to gross basis, considerations are given to the fact that we act more as an intermediary connecting the marketers with media publishers.
Business · p. 177
For the years ended December 31, 2019, 2020 and 2021 and the nine months ended September 30, 2021 and 2022, our revenue from standardized digital marketing services amounted to US$6.1 million, US$7.2 million, US$7.8 million, US$5.5 million and US$5.7 million, respectively.
For each year/period of the Track Record Period, approximately 52%, 71%, 46% and 76%, respectively of the vessels chartered-in by us from suppliers were conducted through a shipbroker and roughly 47%, 77%, 63% and 92%, respectively of the chartered-in vessels chartered by us to customers for each year/period of the Track Record Period were conducted through a shipbroker.
Business · p. 285
The brokerage payable to shipbrokers was generally around 1.25% of the charter hire or freight payable per customary industry standards.
Business · p. 285
According to F&S, there are many benefits to utilizing a shipbroker in the maritime shipping services industry.