In 2021, 2022, 2023 and the six months ended June 30, 2024, purchases from our five largest suppliers in each year/period accounted for 40.8%, 42.2%, 40.1% and 38.8% of our total purchases, respectively.
Summary · p. 7
During the same periods, our single largest supplier in each year/period contributed 27.9%, 21.8%, 18.1% and 20.2% of our total purchases, respectively.
Business · p. 306
We believe that we would be able to find alternative suppliers if required, given the relatively homogeneous nature of our supplies, procurement capabilities and relatively large supplier base in the market.
Purchases from each of our largest supplier for the years ended December 31, 2021, 2022, 2023 and the six months ended June 30, 2024 accounted for 17.2%, 12.3%, 21.5% and 12.3% of our total purchase amount for the respective periods.
Business · p. 259
Purchases from our five largest suppliers in each period during the Track Record Period accounted for 46.4%, 38.8%, 55.6% and 45.6% of our total purchases for the respective periods.
Business · p. 259
We believe that our operation is not dependent on any particular supplier.
In 2021, 2022 and 2023 and for the six months ended June 30, 2024, purchases from our five largest suppliers in each of those years in aggregate accounted for 21.9%, 36.7%, 42.3% and 39.6% of our total purchases, respectively, and purchases from our largest supplier in each of those years alone accounted for 9.9%, 19.2%, 18.2% and 11.5% of our total purchases during 2021, 2022 and 2023 and for the six months ended June 30, 2024, respectively.
Business · p. 302
We believe we have sufficient alternative suppliers for our business that can provide us with substitutes of comparable quality and prices.
Business · p. 302
To the best of our knowledge, all of our five largest suppliers in each year during the Track Record Period are Independent Third Parties.
For the years ended December 31, 2021, 2022 and 2023 and the six months ended June 30, 2024, our five largest suppliers for the respective years/period in aggregate accounted for 41.9%, 36.3%, 41.7% and 38.9% of our total purchase amount, respectively, and our largest supplier for the respective years/period contributed 15.3%, 8.0%, 11.7% and 13.2% of our total purchase amount, respectively.
Business · p. 280
We believe that our operation is not dependent on any particular supplier or contract manufacturer, since: (i) during the Track Record Period, we maintained multiple suppliers to avoid over-reliance on any of suppliers.
The purchases from our top five suppliers in each year/period during the Track Record Period were RMB52.8 million, RMB75.0 million, RMB60.1 million and RMB27.1 million, respectively, representing 61.2%, 52.5%, 37.1% and 40.1% of our total cost of sales in the same years/period, respectively.
Business · p. 231
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.
Business · p. 233
We typically obtain quotations from at least three suppliers, in order to ensure supply stability and optimal procurement cost control, whereas we may source those components which we believe substitute suppliers can be easily identified.
Purchases from our five largest suppliers in each year or period during the Track Record Period amounted to RMB199.5 million, RMB241.6 million, RMB253.9 million and RMB304.9 million and accounted for 24.9%, 19.5%, 15.9% and 24.6% of our total purchases for the respective periods, with the purchases from the largest supplier in each year or period during the Track Record Period contributing 7.8%, 5.4%, 4.7% and 8.0% during the same periods, respectively.
Business · p. 191
We ultimately engage one or two suppliers from our list of qualified suppliers for each type of key food ingredients or other consumables.
Business · p. 189
We may from time to time enter into strategic cooperative agreements with key suppliers in order to strengthen our business relationships with them and further secure sufficient supplies.
Purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB175.8 million, RMB194.0 million, RMB262.3 million and RMB153.2 million in 2021, 2022, 2023 and the six months ended June 30, 2024, respectively, representing 52.8%, 50.5%, 53.6% and 52.3% of our total purchases for the same periods.
Summary · p. 10
Purchases from our largest supplier in each year/period during the Track Record Period amounted to RMB62.3 million, RMB79.2 million, RMB111.3 million and RMB53.0 million, respectively, representing 18.7%, 20.6%, 22.7% and 18.1% of our total purchases for the same period, respectively.
Business · p. 248
We have put in place a centralized supplier management system and implemented a rigorous supplier selection and evaluation procedure.
Amounts paid to our five largest suppliers in each of 2021, 2022 and 2023 and the six months ended June 30, 2024 accounted for 14.8%, 15.4%, 27.7%, and 37.4%, respectively, of our purchases from continuing operations during the same years/ period.
Summary · p. 11
We believe we have sufficient alternative suppliers for our business that can provide us with substitutes of comparable quality and prices.
Amounts paid to our five largest suppliers of each of the years ended December 31, 2021, 2022 and 2023 and the six months ended June 30, 2024 accounted for approximately 96.8%, 98.8%, 97.4% and 98.6% of our total purchase for each of the respective year/period.
Summary · p. 10
During the Track Record Period, our major suppliers were all gold suppliers and commercial banks who provided gold loans to us.
Summary · p. 10
None of our Directors, their close associates or any Shareholder (who or which, to the knowledge of our Directors, owns more than 5% of the issued share capital of our Company) had any interest in any of our five largest suppliers of each year/period during the Track Record Period.
During the Track Record Period, the amount paid to Shanghai Gold Exchange amounted to RMB7,585.1 million, RMB8,050.2 million, RMB11,162.6 million and RMB5,327.9 million for the years ended December 31, 2021, 2022 and 2023 and the six months ended June 30, 2024, respectively, representing 90.9%, 93.2%, 87.6% and 83.4% of our total purchase of the respective year/period.
Business · p. 240
Accordingly, our Directors are of the view that our reliance on the Shanghai Gold Exchange is reasonable and aligns with the industry practice, and is in the best interest of the Company as a whole to continue purchasing gold from the Shanghai Gold Exchange.
Business · p. 240
Hence, in the unlikely event that we require an immediate source of gold, we have the flexibility to increase the percentage of gold obtained through gold trade-in.
Purchases from our five largest suppliers, calculated on the group level with entities controlled by the same group combined together, for 2021, 2022, 2023 and the six months ended June 30, 2024 were RMB217.1 million, RMB139.1 million, RMB139.2 million and RMB60.2 million, respectively, representing 54.5%, 56.4%, 60.6% and 59.7% of our total purchase cost for the respective period.
Summary · p. 10
We do not have substantial reliance on any single supplier. We believe that we have long and stable relationships with our existing major suppliers. According to CIC, it is common for pharmaceutical companies in China to have high supplier concentrations.
During the Track Record Period, the only API we sourced from third party is the fulvestrant API for our product Jifuwei (fulvestrant injection), which we sourced from Hangzhou Heta Pharm & Chem Co., Ltd. (杭州海達醫藥化工有限公司), one of our five largest suppliers in 2023 who is not deemed as one of our competitors in relevant market in China.
Business · p. 349
We believe that the supplies of the fulvestrant API used in our production are ample in the market with multiple suppliers, and that we can seek alternative suppliers as and when appropriate in the market without material limitations. Further, we have the capabilities to produce fulvestrant API in-house.
In the years ended December 31, 2021, 2022 and 2023 and the five months ended May 31, 2024, purchases from our five largest suppliers amounted to RMB151.7 million, RMB221.4 million, RMB95.6 million and RMB25.6 million, respectively, accounting for 44.1%, 55.4%, 33.6% and 39.7%, respectively of our total purchases for the same years/periods.
Business · p. 311
In each year/period of the Track Record Period, purchases from our largest supplier amounted to RMB65.8 million, RMB138.9 million, RMB42.4 million and RMB13.0 million, respectively, accounting for 19.1%, 34.7%, 14.9% and 20.2%, respectively, of our total purchases for the same years/periods.
Business · p. 311
During the Track Record Period, we normally collaborated with multiple suppliers for one type of raw materials to reduce our reliance on a single supplier.
Transaction amounts, which represent our purchase amounts from the supplier, from our five largest suppliers in each year/period during the Track Record Period represented 20.7%, 30.9%, 27.7% and 28.1% of our total transaction amounts for the year ended December 31, 2021, 2022, 2023 and the four months ended April 20, 2024, respectively.
Business · p. 239
The decrease in the number of our manufacturing partners during the Track Record Period was primarily because we consolidated our manufacturing partnerships to streamline operations, adopted strategic sourcing by choosing fewer but more reliable and higher-quality manufacturing partners, and achieved supply chain optimization for efficiency.
Business · p. 239
We have established and maintained long-term and stable relationships with our key manufacturing partners, with the duration of such relationships ranging from two to ten years.
Purchase amount from our five largest suppliers in each period of the Track Record Period accounted for 43.0%, 26.2%, 22.1% and 21.6% of our total purchase amount, respectively.
Business · p. 269
Purchase amount from our largest supplier in each period of the Track Record Period accounted for 25.9%, 12.8%, 9.3% and 7.5% of our total purchase amount, respectively.
Business · p. 269
As domestic LED chip manufacturers continue to improve their product quality and cost-effectiveness, during the Track Record Period, the purchase amount of LED chips from domestic chip suppliers as a percentage of total LED chip purchase amount increased from 29.7% in 2021 to 45.3% in 2022, 57.9% in 2023, and further to 85.3% in the five months ended May 31, 2024.
Our purchases from our largest supplier in each of the years ended December 31, 2022 and 2023 and the five months ended May 31, 2024 amounted to RMB21.5 million, RMB25.8 million, and RMB25.6 million, accounting for 18.3%, 15.4%, and 29.7% of our total purchases, respectively; purchases from our five largest suppliers in aggregate in each of the years ended December 31, 2022 and 2023 and the five months ended May 31, 2024 amounted to RMB45.5 million, RMB57.4 million, and RMB39.3 million, accounting for 38.8%, 34.2%, and 45.5% of our total purchases, respectively.
Summary · p. 17
For example, we currently procure all products utilized in combination therapies, such as Xeloda, for R&D purpose at a fair and reasonable market price from a specific supplier, which is a distributor purchasing products from pharmaceutical companies.
Business · p. 381
Based on the above, our Directors believe that adequate alternative sources for such products exist and we in general do not rely on any particular supplier.
In 2021, 2022 and 2023 and for the six months ended June 30, 2024, the aggregate purchase amounts from our five largest suppliers were RMB251.6 million, RMB890.2 million, RMB1,177.9 million and RMB392.4 million, representing 52.0%, 61.8%, 50.2% and 40.8% of our total purchase amount, respectively.
Business · p. 289
We currently depend on Supplier A to manufacture all of our processing hardware.
Business · p. 286
Our Directors are of the view that, after consultation with CIC and enquiries with the Company’s departments that are responsible for suppliers management, our procurement of semiconductors and the outsourcing of manufacturing and assembling services from Supplier A and Supplier C are in line with industry practices.
The purchase amounts from our largest supplier in each of 2021, 2022 and 2023 and the four months ended April 30, 2024 accounted for 7.0%, 9.7%, 11.0% and 11.8%, respectively, of our total purchase amount during those respective periods.
Business · p. 229
The aggregate purchase amounts from our five largest suppliers in each of 2021, 2022 and 2023 and the four months ended April 30, 2024 accounted for 31.0%, 33.5%, 33.2% and 28.5%, respectively, of our total purchase amount during those respective periods.
Business · p. 229
For key raw materials and packaging materials, we collaborate with multiple suppliers to reduce the concentration risks associated therewith.
Our transaction amounts with our largest supplier for the three years ended December 31, 2023 and the three months ended March 31, 2024 accounted for 36.1%, 16.3%, 5.9% and 8.0%, respectively, of our total purchase during those periods.
Summary · p. 4
We have established and maintained stable and good relationships with our five largest suppliers for each year during the Track Record Period, having a relationship of 6 years or above with a majority of them.
Business · p. 302
We have a vast number of suppliers for sourcing network and bandwidth services, server and storage services and IDC services and they are scattered across different regions in China and overseas.
In 2021, 2022, 2023 and the three months ended March 31, 2024, purchases from our five largest suppliers accounted for 39.8%, 50.3%, 45.1%, and 37.4% of our total purchase, respectively, with purchases from our largest supplier comprising 18.0%, 16.9%, 18.0%, and 17.4% of our total purchase during the same periods.
Business · p. 213
This approach ensures that we maintain sufficient production capacity while mitigating the risk of potential performance issues associated with a single supplier.
Business · p. 207
For our key product series, we typically engage in long-term cooperation with two to three contract manufacturers while also enjoying the flexibility to choose alternative supplies as needed to ensure continuous supply and maintain quality.