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.
Our top five suppliers in each period during the Track Record Period in aggregate accounted for 72.6%, 66.3%, 85.0% and 84.7% of our total purchases in 2022, 2023, 2024 and the six months ended June 30, 2025, respectively.
Business · p. 239
Our largest supplier in each period during the Track Record Period accounted for approximately 39.4%, 36.3%, 50.3% and 51.7% of our total purchases in 2022, 2023, 2024 and the six months ended June 30, 2025, respectively.
Business · p. 239
We primarily rely on one cloud service provider and also purchase from other cloud service providers, which is an industry norm for e-commerce SaaS providers, according to CIC.
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.
During the Track Record Period, our suppliers were mainly CROs, CDMOs, and raw materials and equipment providers. For the years ended December 31, 2023 and 2024, and the six months ended June 30, 2025, our purchases from our five largest suppliers for each year/period amounted to RMB90.6 million, RMB50.6 million and RMB64.2 million, accounting for 34.5%, 29.9% and 75.5% of our total purchases for the corresponding year/period, respectively.
Summary · p. 21
Meanwhile, in view of additional factors such as supplier concentration risks and cost efficiency and the commercialization of additional drugs, we also plan to engage new CDMOs to diversify production partnerships for upcoming approved drugs.
Purchases from our five largest suppliers in each year/period during the Track Record Period, on a consolidated basis, were RMB43.4 million, RMB52.6 million, RMB70.5 million and RMB13.4 million in 2022, 2023, 2024 and the three months ended March 31, 2025, respectively, representing 41.1%, 34.3%, 44.5% and 35.8% of our total purchases for the corresponding year/period.
Business · p. 314
We have established a stable business relationship with our suppliers for raw materials, which we believe have sufficient capacity to meet our demands.
Business · p. 314
To the best of our knowledge, (i) all of our five largest suppliers for each year/period during the Track Record Period are independent third parties, and (ii) none of our Directors, their respective associates or any shareholder who owned more than 5% of our issued share capital as of the Latest Practicable Date has any interest in any of our five largest suppliers for each year/period during the Track Record Period.
The aggregate purchases from our top five suppliers of each of the years ended December 31, 2022, 2023, 2024 and the five months ended May 31, 2025 amounted to RMB313.8 million, RMB400.5 million, RMB1,075.9 million and RMB383.6 million, which accounted for 32.2%, 40.8%, 56.6% and 60.5% of our total purchases of the relevant year/period, respectively.
Business · p. 280
For instance, we have established strategic partnerships with our primary suppliers, securing long-term commitments and ensuring a consistent flow of essential raw materials and components.
Business · p. 286
Although we maintain a list of backup suppliers, if any supplier fails to deliver raw materials timely, we are still subject to risks associated with a shortage of raw materials.
In 2022, 2023, 2024 and five months ended May 31, 2025, our purchases of Qualcomm SoCs accounted for 67.3%, 44.2%, 87.0% and 80.5% of our total purchase value of SoCs, respectively, and 54.9%, 56.6%, 68.3% and 63.9% of our total procurement volume, respectively.
Summary · p. 11
We entered into a supply framework agreement with Qualcomm in 2021.
Summary · p. 11
To ensure a stable supply of chips and mitigate potential supply chain disruptions, we adopt a proactive procurement strategy by budgeting additional chip inventory when making purchases.
For each year of the Track Record Period, purchases from our top five suppliers amounted to US$348.0 million, US$423.3 million and US$454.3 million, respectively, accounting for 30.7%, 30.4% and 31.2% of our cost of sales for the same periods, respectively.
Summary · p. 20
During the Track Record Period, we purchased equipment and raw materials mainly from certain subsidiaries of Zijin Mining, as part of the centralized procurement arrangement implemented by us so that we could procure equipment and raw materials in accordance with the procurement policy of Zijin Mining and enjoy the economies of scale.
The aggregate purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB220.10 million, RMB403.45 million, RMB308.90 million and RMB157.52 million, respectively, accounting for 90.72%, 93.92%, 92.40% and 95.38% of our total purchases for the respective periods.
Business · p. 397
According to CIC, the Shanghai Gold Exchange is the largest gold exchange in China and is directly regulated by the Chinese government, purchasing gold from the Shanghai Gold Exchange is an industry norm in the precious metal watch-gold industry, partial precious metal watch-gold industry, and precious metal jewellery and accessories industry.
Business · p. 394
During the Track Record Period, we procured gold from three qualified members of the Shanghai Gold Exchange, all of whom are Independent Third Parties.
In 2022, 2023 and 2024 and the three months ended March 31, 2025, purchases of raw materials from our five largest suppliers in each period during the Track Record Period amounted to RMB12,096 million, RMB20,503 million, RMB28,672 million and RMB8,903 million, respectively, accounting for 15.8%, 16.9%, 14.4% and 17.1% of our total purchases of raw materials for each of the same periods.
Business · p. 273
We have a broad base of suppliers and we do not believe that we have material concentration risks.
Business · p. 272
A localized and stable supply chain is a key focus in production of vehicles.
In 2022, 2023 and 2024 and the six months ended June 30, 2025, our aggregate purchases from our five largest suppliers in each year/period during the Track Record Period accounted for 52.0%, 44.6%, 43.5% and 47.0% of our total purchases in each year/period during the Track Record Period.
Summary · p. 16
Our purchases from our largest supplier in each year/period during the Track Record Period accounted for 19.6%, 15.3%, 12.9% and 14.1% of our total purchases for the respective years/periods.
Business · p. 253
We maintain a network of suppliers to minimize potential interruptions to our business operations and avoid over-reliance on any single supplier.
In 2023, 2024 and the four months ended April 30, 2024 and 2025, our purchases from our five largest suppliers in each year/period in aggregate amounted to RMB94.1 million, RMB108.5 million, RMB26.9 million and RMB34.0 million, representing 44.4%, 44.3%, 47.5% and 41.7% of our total corresponding purchases in such period, respectively, and our purchases from the largest R&D supplier in each period accounted for 11.3%, 12.7%, 17.1% and 11.6% of our total corresponding purchases, respectively.
Business · p. 431
During the Track Record Period, our major suppliers primarily consisted of CROs and CDMOs and we did not experience any material disputes with our suppliers. In addition, we believe that adequate alternative sources for such supplies exist, and we have developed alternative sourcing strategies for these supplies.
Business · p. 430
All of our five largest suppliers in each year/period during the Track Record Period are Independent Third Parties.
Our five largest suppliers in each year/period during the Track Record Period in aggregate accounted for 66.0%, 55.6%, 42.7% and 80.2% of our total purchases in 2022, 2023 and 2024 and for the three months ended March 31, 2025, respectively.
Business · p. 341
Our key suppliers are primarily pharmaceutical and healthcare product providers, and procurement in this sector is naturally concentrated in a limited number of partners handling large-volume transactions.
Business · p. 341
To ensure supply stability and consistency, we typically source each type of supply from one primary supplier, with several alternative options available as backups.
Charges from our top five suppliers for each of the years ended December 31, 2022, 2023 and 2024 and the three months ended March 31, 2025 accounted for 34.5%, 26.6%, 27.4% and 23.3%, respectively, of our total purchases during the same year/period.
Summary · p. 13
The decrease in the percentage of purchases attributable to our largest and top five suppliers in each year/period during the Track Record Period was mainly driven by the evolution of our product portfolio during the Track Record Period.
Summary · p. 13
We also constantly adjusted our supplier base based on quality, cost and delivery performance, which further contributed to the fluctuation in the purchases attributable to our largest and top five suppliers in each year/period during the Track Record Period.
In 2022, 2023, 2024 and the four months ended April 30, 2025, purchase from our five largest suppliers in each year/period during the Track Record Period accounted for 32.7%, 42.7%, 46.2% and 52.1%, respectively, of our total purchase amount for the respective periods.
Summary · p. 7
In 2022, 2023 and 2024 and the four months ended April 30, 2025, purchase from our largest supplier in each year/period accounted for 15.6%, 15.9%, 16.8% and 17.6%, respectively, of our total purchase amount for the respective periods.
Business · p. 164
We have implemented internal control procedures to monitor and review the order volumes placed with each OEM supplier, thereby ensuring timely fulfillment and effective supply chain management.
In 2022, 2023, 2024 and the three months ended March 31, 2025, our purchase amount from our five largest suppliers in each year/period in the aggregate accounted for 31.8%, 28.8%, 33.3% and 26.6% of our total cost of sales during the corresponding years/periods, respectively.
Summary · p. 4
We believe that we have good relationship with our major suppliers.
Business · p. 227
To the best of our knowledge, none of our Directors, their respective associates or any shareholder who owned more than 5% of our issued share capital of our Company as of the Latest Practicable Date, had any interest in any of our five largest suppliers in each year/period during the Track Record Period.