Hong Kong IPO disclosure precedents · 412 companies, 412 items
Disclosures that the five largest suppliers together account for a material share (roughly 20% or more) of total purchases, with amounts, percentages and supplier types set out.
Our five largest suppliers in each year/period during the Track Record Period together accounted for 39.4%, 47.6%, 45.0% and 47.7% of our total purchases, in 2022, 2023 and 2024 and the six months ended June 30, 2025, respectively, and our single largest supplier in each year/period during the Track Record Period accounted for 17.1%, 20.1%, 19.0% and 21.4% of our total purchases during the same years/periods, respectively.
Business · p. 216
Our five largest suppliers in each year during the Track Record Period were Independent Third Parties.
Business · p. 221
To sufficiently guarantee the stability in price and supply of our various kinds of procured medical materials, in addition to one major supplier of a certain procured item, we generally have two to three back-up suppliers so that to resort to alternative channels should we suffer interruptions in supply from our major supplier.
In 2023, 2024 and the nine months ended September 30, 2025, our purchases from our five largest suppliers in each period during the Track Record Period in the aggregate accounted for 50.4%, 39.0% and 35.7% of our total purchases in the respective periods, respectively, while purchases from our largest supplier in each period accounted for 17.3%, 17.9% and 11.0% of our total purchases in the respective periods, respectively.
Business · p. 389
All of our five largest suppliers in each period during the Track Record Period were Independent Third Parties, and as of the Latest Practicable Date, none of our Directors, their respective associates or any Shareholder who, to the knowledge of our Directors, owned more than 5% of our issued share capital, had any interest in any of our five largest suppliers in each period during the Track Record Period.
Business · p. 392
In addition, we believe that adequate alternative sources for such supplies exist, and we have developed alternative sourcing strategies for these supplies.
For the years ended 31 December 2022, 2023, 2024 and the seven months ended 31 July 2025, purchases from our top five suppliers in each year/period accounted for approximately 73.4%, 69.8%, 73.2% and 55.0% of our total purchases for the relevant year.
Summary · p. 8
Our largest supplier in each year/period accounted for approximately 22.8%, 30.6%, 30.1% and 22.0% of our total purchases.
Business · p. 209
Our Directors believe, and the Joint Sponsors concur, that the concentration of suppliers during the Track Record Period will not result in a material adverse impact on our business operations.
Charges from our five largest suppliers of each of the year/period during the Track Record Period for our key business operations for the years ended December 31, 2022, 2023, 2024 and the six months ended June 30, 2025 accounted for 35.6%, 47.9%, 59.2% and 84.1%, respectively, of our total purchase amount during those periods.
Summary · p. 12
Given (i) the project-based nature of our business, (ii) the high average order value for the corresponding intelligent driving projects, which resulted in a significant proportion of our annual purchase amount being attributed to certain major projects, and (iii) our practice of engaging the same suppliers for the same project to maintain consistency in the quality of our products and solutions, as they are selected based on the specific needs of each project, our supplier concentration increased during the Track Record Period, with a substantial portion of our purchase amount attributed to our largest suppliers of each of the year/period during the Track Record Period.
Our top five suppliers for each year/period during the Track Record Period accounted for 68.6%, 44.3%, 46.0% and 51.0% of our total purchases for the respective year/period.
Business · p. 248
We believe we have sufficient alternative suppliers for our business that can provide us with substitutes of comparable quality and prices.
Purchases from our five largest suppliers in each year/period comprising the Track Record Period amounted to RMB236.7 million, RMB937.6 million, RMB409.1 million and RMB58.0 million in 2022, 2023 and 2024 and for the five months ended May 31, 2025, respectively, representing 84.5%, 88.7%, 86.9% and 74.7% of our total purchases for the respective years/period.
Summary · p. 9
We do not believe there is material supplier reliance risk, considering (i) we have maintained multiple suppliers to avoid overreliance on any of the existing suppliers and each of our materials were procured from multiple supplier; and (ii) we have invested efforts into diversifying our supplier base, and commenced epitaxial wafer production verification and tape-out with new suppliers in recent years.
Summary · p. 9
Besides, Frost & Sullivan has advised us that albeit only a few, there are around 35 suppliers who are able to provide products and services of similar quality and similar price in the market from which we can easily procure raw materials, which helps reduce the potential supplier concentration risks.
Purchases from our five largest suppliers in each year/period during the Track Record Period accounted for 28.7%, 30.1%, 30.5% and 33.1% of our total purchases for the respective year/period.
Business · p. 210
We typically have multiple suppliers for each of our main food ingredients to minimize any potential disruption in our operations, maintain sourcing stability, avoid over-reliance risk, and secure competitive prices from suppliers.
Purchases from our top five suppliers for the years ended December 31, 2022, 2023, 2024 and for the five months ended May 31, 2025 amounted to RMB72.6 million, RMB68.9 million, RMB90.2 million and RMB43.9 million, representing 74.5%, 68.0%, 66.9% and 73.0% of our total purchases for the same periods, respectively.
Business · p. 224
We typically enter into annual agreements with the natural gas suppliers, five-year agreements with electricity suppliers as well as monthly or annual agreements with coal suppliers.
Business · p. 219
During the Track Record Period and up to the Latest Practicable Date, we did not experience any material shortage of power or disruption in our utilities supply that caused a material adverse impact on our production.
In 2022, 2023, 2024 and the five months ended May 31, 2025, purchases from our five largest suppliers in each year or period of the Track Record Period amounted to RMB195.9 million, RMB165.1 million, RMB290.7 million and RMB167.5 million, respectively, representing 90.4%, 78.6%, 89.9% and 74.4% of our total purchases for the respective years or periods, respectively.
Business · p. 197
Save as in 2022 when we procured polypropylene through our connected person, Haiwei Petrochemical Co., Ltd. (海偉石化有限公司, “Haiwei Petrochemical”), all of our five largest suppliers were Independent Third Parties during the Track Record Period.
Business · p. 197
To minimize potential interruptions to our raw material supply chain, especially electrical grade polypropylene, we have implemented measures including (i) monitoring raw material inventory based on our analysis of the demand and supply of products in the market; (ii) maintaining reasonable level of inventory of main raw materials, including procuring raw materials in advance in the event of price fluctuations; and (iii) maintaining long-term and stable partnership with major raw material suppliers, in particular the suppliers of electrical grade polypropylene.
Our top five suppliers in each year/period of the Track Record Period accounted for 53.6%, 64.5%, 68.0% and 69.8% of our total purchase amounts for the years ended December 31, 2022, 2023 and 2024 and for the five months ended May 31, 2025, respectively, and our largest supplier in each year/period of the Track Record Period accounted for 22.5%, 22.4%, 20.4% and 24.0% of our total purchase amounts for the years ended December 31, 2022, 2023 and 2024 and for the five months ended May 31, 2025, respectively.
Summary · p. 7
See “Risk Factors — Risks Relating to Our Business and Our Industry — Our purchase amounts were concentrated among a limited number of suppliers during the Track
Business · p. 212
We generally sign contracts with our suppliers, which generally may be terminated by one party by giving an average of 30 days of prior notice to the other party.
Purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB4,349.1 million, RMB3,459.7 million, RMB3,928.4 million and RMB2,503.0 million, respectively, and accounted for 42.2%, 36.0%, 39.9% and 41.8% of our total purchases for the same respective periods.
Business · p. 252
Purchases from our largest supplier in each year/period during the Track Record Period amounted to RMB1,259.7 million, RMB914.0 million, RMB1,069.1 million and RMB984.6 million, respectively, and accounted for 12.2%, 9.5%, 10.9% and 16.4% of our total purchases for the same respective periods.
Business · p. 252
We maintain long-term collaborative relationships with our suppliers and typically enter into annual framework procurement agreements for the purchase of raw materials to guarantee a stable supply.
The purchases attributable to our five largest suppliers for each year/period during the Track Record Period were RMB261.1 million, RMB210.1 million, RMB246.1 million (US$34.4 million) and RMB258.2 million (US$36.0 million) for 2022, 2023, 2024 and the six months ended June 30, 2025, respectively, representing 41.4%, 40.4%, 37.2% and 34.5% of our total purchase for the corresponding year/period.
Business · p. 330
However, some of the key components used to manufacture our L4 autonomous driving vehicles were from limited sources of supply, we may therefore be subject to the risk of shortages and long lead times in the supply of these components and the risk that our suppliers discontinue or modify components used in our vehicles.
Business · p. 336
Besides, we have been maintaining an alternative list of competitive suppliers capable of providing comparable key components and raw materials, to mitigate risks associated with capacity constraints and other supply chain challenges such as intensified international trade tensions.
In each of 2022, 2023, 2024 and for the six months ended June 30, 2025, the aggregate purchase amounts from our five largest suppliers in each year/period during the Track Record Period were US$16.2 million, US$21.0 million, US$29.6 million and US$16.7 million, representing 25.0%, 32.8%, 31.6% and 24.5% of our total purchase amount, respectively.
Business · p. 381
The purchase amounts from our largest supplier in each year/period during the Track Record Period were US$5.1 million, US$6.0 million, US$8.7 million and US$5.9 million, representing 7.9%, 9.4%, 9.3% and 8.6% of our total purchase amount, respectively.
Business · p. 381
During the Track Record Period, we maintained multiple suppliers to avoid overreliance on any of suppliers and we believe there is no significant difficulty to find suitable substitutes for our suppliers.
For the years ended December 31, 2022, 2023 and 2024 and for the six months ended June 30, 2025, the aggregate purchases from our top five suppliers in each year/period during the Track Record Period amounted to RMB13.9 billion, RMB15.4 billion, RMB72.2 billion and RMB35.2 billion, which accounted for 34.7%, 36.9%, 51.9% and 57.9% of our total purchases for the respective years/periods.
Summary · p. 9
For the same periods, purchases from our largest supplier in each year/period during the Track Record Period amounted to RMB5.8 billion, RMB7.2 billion, RMB42.0 billion and RMB20.0 billion, which accounted for 14.5%, 17.4%, 30.2% and 33.0% of our total purchases for the respective years/periods.
Business · p. 230
To mitigate supply chain risks, we have established stable relationships with multiple suppliers, and are able to source our key raw materials and components through multiple high-quality suppliers selected through our standardized evaluation system, taking into account factors such as the supplier’s product quality, technical strength, corporate reputation and other such commercial and technical factors.
Purchases from our five largest suppliers during the Track Record Period amounted to RMB9,568.7 million, RMB7,825.1 million, RMB8,168.0 million and RMB3,305.2 million in 2022, 2023, 2024 and the four months ended April 30, 2025, respectively, representing 21.1%, 22.0%, 21.2% and 21.3% of our total purchases for the same respective periods.
Business · p. 270
To ensure a stable supply of raw materials and components, we have implemented several measures, such as avoiding exclusive supply, developing alternative sources and strengthening our supplier admission standards.
Business · p. 277
In the four months ended April 30, 2025, our overall self-supply rate for parts and components reached approximately 60%.
In 2022, 2023, and 2024, and the six months ended June 30, 2025, purchases from our five largest suppliers in each year/period of the Track Record Period amounted to RMB1,130.5 million, RMB709.7 million, RMB1,089.4 million, and RMB754.6 million, representing 34.0%, 35.3%, 38.8%, and 44.3% of our total purchases, and purchases from our largest supplier for each year/period represented 8.5%, 9.3%, 10.4%, and 16.0% of our total purchases, respectively.
Summary · p. 12
While each of our three solution categories may depend on specific suppliers for their main chips, overall procurement risk is mitigated through diversification across these segments.
Business · p. 249
To prepare for potential shortages, we have engaged in discussions with qualified international suppliers to establish long-term strategic partnerships and have broadened our supplier base, thus securing a stable supply of raw materials and critical components.
Purchases from our five largest suppliers in each year/period during the Track Record Period were to RMB20.2 million, RMB15.5 million, RMB57.3 million and RMB33.3 million in 2022, 2023, 2024 and the six months ended June 30, 2025, respectively, representing 43.3%, 33.7%, 41.9% and 37.9% of our total purchases for the same periods, respectively.
Business · p. 260
We also collaborate with multiple suppliers to ensure a stable supply.
During the Track Record Period, purchases from our five largest suppliers in each period amounted to RMB3,150.0 million, RMB3,632.2 million, RMB4,524.1 million and RMB1,831.2 million, respectively, representing 76.1%, 81.4%, 79.3% and 89.7% of our total cost of goods sold from continuing operations, respectively.
Business · p. 227
In 2022, 2023, 2024 and the four months ended April 30, 2025, purchases from Supplier A accounted for 34.3%, 40.5%, 34.3% and 54.6% of our total cost of goods sold from continuing operations, respectively.
Business · p. 230
As a distributor, Supplier A does not have exclusive control the supply of these key raw materials, and there are a sufficient number of alternative suppliers in the market who also distribute these components, which enable us to source these materials from other suppliers with comparable quality and reliability.
In 2022, 2023, 2024 and the five months ended May 31, 2025, our purchases from our five largest suppliers in aggregate in each year/period amounted to RMB55.3 million, RMB134.8 million, RMB244.1 million and RMB73.8 million, respectively, accounting for 46.5%, 55.7%, 52.8% and 53.8% of our total purchases in each year/period, respectively.
Summary · p. 18
In 2022, 2023, 2024 and the five months ended May 31, 2025, our purchases from our largest supplier in each year/period amounted to RMB16.7 million, RMB72.6 million, RMB91.3 million and RMB18.2 million, respectively, accounting for 14.0%, 30.0%, 19.7% and 13.3% of our total purchases in each year/period, respectively.
Summary · p. 18
Although we have maintained stable business relationships with our major suppliers, our business and results of operations can be materially affected if we fail to do so in the future.
For the years ended December 31, 2022, 2023 and 2024 and the five months ended May 31, 2025, our purchases from the five largest suppliers in each period of the Track Record Period accounted for 24.8%, 29.4%, 44.2% and 62.7% of our total purchases, respectively, and our purchases from the largest supplier in each period of the Track Record Period accounted for 6.4%, 17.2%, 18.9% and 38.4% of our total purchases, respectively.
Summary · p. 11
The increased procurement share from our largest supplier and five largest suppliers in 2024 and the first five months of 2025 were resulting from the strategic shift of collaboration model with Supplier A.
Summary · p. 11
While this change has led to a significant increase in the purchase amounts paid to Supplier A since 2024, it has enabled us to substantially reduce the time and manpower previously dedicated to procurement activities, streamline our internal processes, and allocate managerial resources to core strategic priorities.