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.
In 2024 and 2025, purchase amount from our top five suppliers in each year of the Track Record Period in aggregate was RMB18.2 million and RMB15.6 million, representing 53.7% and 58.1% of our total purchase amount, respectively.
Summary · p. 6
In 2024 and 2025, purchase amount to our largest supplier was RMB7.4 million and RMB4.1 million, representing 21.7% and 15.3% of our total purchase amount, respectively.
Business · p. 186
To the best of our knowledge, during the Track Record Period and up to the Latest Practicable Date, all of our five largest suppliers were Independent Third Parties.
Purchases from each of our largest supplier in each year during the Track Record Period accounted for 11.5%, 18.6% and 11.9% of our total purchase amount in 2023, 2024 and 2025, respectively.
Business · p. 190
Purchases from our five largest suppliers in each year during the Track Record Period accounted for 46.9%, 40.0% and 37.0% of our total purchases in 2023, 2024 and 2025, respectively.
Business · p. 190
During the Track Record Period, we procured chips from a limited number of suppliers, primarily due to our long-term relationship and end customers' preference.
Our purchases from five largest suppliers in each year during the Track Record Period amounted to RMB98.6 million, RMB100.3 million and RMB87.6 million in 2023, 2024 and 2025, respectively, accounting for 28.9%, 30.9% and 23.4% of our total purchases for the corresponding years.
Business · p. 183
This was mainly because some media platforms, such as Douyin and Tencent, grant distribution rights to designated agencies as their resellers.
Business · p. 181
To ensure supply stability and consistency, we typically source each type of supply from one primary supplier, with several alternative options available as backups.
In 2023, 2024 and 2025, purchases from our five largest suppliers in each year during the Track Record Period amounted to RMB832.5 million, RMB849.3 million and RMB882.5 million, accounting for 97.8%, 97.2% and 96.4% of our total purchases in the respective years.
Summary · p. 3
In 2024, the majority of our wafers continued to be supplied by foundries based in Taiwan, China, primarily because our new foundry partnerships in Chinese mainland (“Mainland Foundry”) were still undergoing testing and qualification.
Business · p. 185
The wafer shipment volume from the Mainland Foundries increased significantly from 1,943 units in 2024 to 18,946 units in 2025, representing an increase of 875.1%.
During the Track Record Period, purchases from our five largest suppliers in each year amounted to RMB167.4 million, RMB350.0 million, and RMB1,073.9 million, respectively, representing 64.0%, 63.0%, and 74.3% of our total purchase amount, respectively.
Summary · p. 5
We also continuously optimize our supplier structure to reduce reliance on any single supplier through diversified sourcing.
In each year during the Track Record Period, our purchases from our five largest suppliers accounted for 58.6%, 63.5% and 71.2% of our total purchases in 2023, 2024 and 2025, respectively, while our purchase from the largest supplier accounted for 15.4%, 23.7% and 21.5% of our total purchases, respectively, for the same periods.
Business · p. 127
To minimize the risk of reliance on any single supplier and maintain sourcing stability and bargaining power, we have been independently developing and producing high-end electronic yarn for in-house utilization.
Business · p. 127
To the best of our knowledge, during the Track Record Period and up to the Latest Practicable Date, all of our five largest suppliers in each year were Independent Third Parties.
For FY2023, FY2024, FY2025, purchases from our five largest suppliers amounted to RMB147.5 million, RMB80.5 million and RMB159.7 million, respectively, accounting for 52.7%, 40.3% and 59.1%, of our total purchase costs during those years, respectively.
Summary · p. 2
We believe we are not exposed to concentration risk or reliant on any single supplier.
Business · p. 151
Our Directors confirm that we had not experienced any significant material fluctuation in prices set by our suppliers, material breach of contract on the part of our suppliers or delay in delivery of our orders from our suppliers during the Track Record Period.
Purchases from our five largest suppliers in each year during the Track Record Period amounted to RMB490.6 million, RMB309.3 million and RMB473.6 million, respectively, representing 60.5%, 64.3% and 57.2% of our total purchases for the same years, respectively.
Business · p. 157
We collaborate with multiple suppliers for core raw materials and components to ensure supply stability, and raise entry standards and regularly evaluate supplier qualifications to ensure their supply capacity.
Business · p. 160
As of the Latest Practicable Date, none of our Directors, their respective close associates or any of our shareholders (who, to the knowledge of the 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.
During the Track Record Period, purchases from our top five suppliers amounted to RMB28.9 million, RMB44.9 million and RMB72.4 million, accounting for 29.0%, 26.2% and 27.5% of our total purchases for the years ended December 31, 2023, 2024 and 2025, respectively.
Summary · p. 6
In addition, purchases from our largest supplier in each year of the Track Record Period amounted to RMB8.0 million, RMB12.2 million and RMB23.8 million, accounting for 8.0%, 7.1% and 9.0% of our total purchases, respectively.
Summary · p. 6
During the Track Record Period and up to the Latest Practicable Date, we did not experience any significant fluctuation in prices set by our suppliers, material breach of contracts on the part of our suppliers or delay in delivery of our orders from our suppliers.
During the Track Record Period, our aggregated purchase from our five largest suppliers in each of FY2023, FY2024 and FY2025 amounted to RMB81.4 million, RMB104.6 million and RMB99.9 million, accounting for 34.7%, 35.7% and 34.1% of our total purchase, respectively.
Summary · p. 4
Our purchase from the largest supplier in each of FY2023, FY2024 and FY2025 during the Track Record Period amounted to RMB46.2 million, RMB53.0 million and RMB60.8 million, accounting for 19.7%, 18.1% and 20.7% of our total purchase, respectively.
Business · p. 148
To the best of our knowledge and after reasonable inquiry, all of our five largest suppliers during the Track Record Period are Independent Third Parties and none of our Directors, their respective associates or Shareholders who owned more than 5% of the issued share capital of our Company as of the Latest Practicable Date had any interest in any of the five largest suppliers of our Group during the Track Record Period.
In 2023, 2024 and 2025, our purchases from our five largest suppliers in each year during the Track Record Period in aggregate accounted for 49.5%, 80.8% and 68.6% of our total purchases in the respective year, respectively, and purchases from our largest supplier alone in each year during the Track Record Period accounted for 20.6%, 43.8% and 38.2% of our total purchases in each respective year, respectively.
Business · p. 244
To the best of knowledge of our Directors, all of our five largest suppliers in each year/period during the Track Record Period are Independent Third Parties.
Business · p. 246
In addition, we believe that we have adequate alternative sources for such suppliers.
Purchases from our five largest suppliers for the years ended December 31, 2023, 2024, 2025 amounted to RMB496.9 million, RMB567.4 million and RMB472.1 million, representing 35.8%, 33.7% and 27.0% of our total purchases for the same periods, respectively.
Business · p. 159
As of the Latest Practicable Date, we had maintained long-term cooperative relationships with the main suppliers.
Business · p. 158
To ensure supply chain stability, we select at least three qualified and capable suppliers for each category of raw and auxiliary materials.
Purchase from our five largest suppliers in each year during the Track Record Period was RMB2,994.2 million, RMB3,332.2 million and RMB8,667.5 million respectively, accounting for 58.2%, 62.4% and 66.1% of our total purchases for the same year, respectively.
Business · p. 126
According to Frost & Sullivan, supplier concentration is common in the memory product industry.
Business · p. 126
We maintain long-term relationships with leading global NAND and DRAM vendors, securing diversified supply across multiple sources to mitigate single-supplier dependency.
In each year of 2023, 2024 and 2025, purchases from our five largest suppliers amounted to RMB39.7 million, RMB64.8 million and RMB113.1 million, respectively, accounting for 35.5%, 33.7% and 38.8% of our total purchases in the same years, respectively.
Summary · p. 8
In each year of 2023, 2024 and 2025, purchases attributable to our largest supplier amounted to RMB18.2 million, RMB17.8 million and RMB45.6 million, respectively, accounting for 16.2%, 9.3% and 15.7% of our total purchases in the same year, respectively.
Business · p. 194
In addition, we maintain stable relationships with multiple vehicle manufacturers to ensure that we can meet the diverse needs of our customers and ensure a stable supply.
Purchases from our five largest suppliers in each year during the Track Record Period accounted for 47.7%, 29.0% and 38.7% of our total purchases for the respective year.
Summary · p. 4
Purchases from our largest supplier in each year during the Track Record Period accounted for 27.2%, 9.4% and 19.1% of our total purchases for the respective year.
Business · p. 137
We procure different raw materials and services from multiple suppliers in mitigating the risk of single supplier reliance and ensuring the timely delivery of our products, thereby enhancing customer satisfaction.
Our purchases from our five largest suppliers for each year during the Track Record Period accounted for approximately 30.9%, 33.9% and 32.2% of our total purchases for the years ended December 31, 2023, 2024, and 2025, respectively.
Summary · p. 2
In the corresponding period, our purchase from our single largest supplier for each year during the Track Record Period accounted for approximately RMB45.7 million, RMB83.5 million and RMB91.7 million, which accounted for approximately 10.4%, 15.0% and 13.3% of our total purchases, respectively.
Business · p. 145
Most of the raw materials used by us are readily available from multiple suppliers and can be sourced at competitive market prices.
In 2023, 2024 and 2025, purchases from our five largest suppliers in the respective year amounted to RMB192.7 million, RMB485.9 million and RMB518.3 million, which accounted for 29.4%, 37.4% and 24.9% of our total purchases in the corresponding year.
Business · p. 167
(ii) during the Track Record Period, the largest contractual manufacturer in each year accounted for 16.2%, 25.0% and 11.4% of the total procurement amount made by us to all the partnered contractual manufacturers in the respective year; and
Business · p. 135
Given the ready availability of alternative contractual manufacturers in China, the increasing diversification of our contractual manufacturing network, and the rigorous measures we have in place to ensure operational resilience, we believe that any interruption or termination of our collaboration with an existing contractual manufacturer would not have any material adverse impact on our business, results of operations, financial condition or growth prospects.
In each year during the Track Record Period, our purchases from the top five suppliers amounted to RMB839.1 million, RMB3,372.1 million and RMB6,903.4 million, accounting for 88.1%, 92.3% and 79.4% of our total purchases for each year.
Summary · p. 2
We are subject to a certain degree of supplier concentration risk.
Business · p. 162
In accordance with industry practice, we procure certain components directly from single suppliers, such as battery cells and components for electronic control and intelligent driving systems.
The purchases attributable to our five largest suppliers for each year during the Track Record Period were RMB725.2 million, RMB801.1 million and RMB874.7 million, respectively, accounting for 18.3%, 15.5% and 14.5% of our total purchases, respectively.
Summary · p. 4
The purchases attributable to our largest supplier for each year during the Track Record Period were RMB189.0 million, RMB257.9 million and RMB515.6 million, respectively, accounting for 4.8%, 5.0% and 8.5% of our total purchase.
Business · p. 152
During the Track Record Period, we have not experienced any significant fluctuation in prices set by our suppliers or material breach of contract on the part of our suppliers.
Purchases from our five largest suppliers in 2024 and 2025 were RMB92.6 million and RMB67.8 million, respectively, representing 57.1% and 53.2% of our total purchases for the same years.
Summary · p. 8
Purchases from our single largest supplier in 2024 and 2025 were RMB31.8 million and RMB36.5 million, respectively, representing 19.6% and 28.5% of our total purchases for the same years.
Summary · p. 8
All of our five largest suppliers during the Track Record Period were Independent Third Parties.