During the Track Record Period, purchases from our top five suppliers amounted to S$4.0 million, S$9.7 million, S$14.2 million and S$13.9 million in 2023, 2024, 2025 and the six months ended 30 June 2026, respectively, accounting for 35.0%, 31.8%, 33.8% and 38.6% of our total purchases, respectively.
Summary · p. 4
In addition, during the Track Record Period, purchases incurred from our largest supplier in each year/period accounted for 9.9%, 9.6%, 10.1% and 9.3% of our total purchases, respectively.
Business · p. 132
During the Track Record Period, we established long-term relationships with our suppliers and maintained a list of sub-contractors with particular expertise to avoid over-reliance on a particular supplier.
Purchases from our five largest suppliers in each period during the Track Record Period accounted for 61.8%, 70.9%, 67.3% and 77.0%, of our total purchases in 2023, 2024, 2025 and the four months ended April 30, 2026, respectively.
Business · p. 153
To the best knowledge of our Directors, all of our five largest suppliers for each period during the Track Record Period were Independent Third Parties and none of our Directors, their associates or any Shareholders of our Company, who to the knowledge of our Directors owned more than 5% of our Company’s issued share capital, had any interest in any of our five largest suppliers for each period during the Track Record Period.
Business · p. 153
To mitigate the impact of raw material price fluctuations on our business, we manage procurement costs through bulk procurement to spread fixed raw materials costs, while locking in prices for key components, such as battery cells, through long-term framework agreements with certain of our suppliers.
Purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB26.8 million, RMB19.8 million and RMB37.3 million, accounted for 34.5%, 32.9% and 56.8% of our purchases for the respective year/period.
Summary · p. 7
To our best knowledge, all of our five largest suppliers during the Track Record Period are independent third parties.
Business · p. 203
In addition, we believe that adequate alternative sources for such suppliers exist, and we have developed alternative sourcing strategies for these suppliers.
For the same years/periods, purchase amounts from our largest supplier in each year/period during the Track Record Period was RMB25.7 million, RMB43.1 million, RMB96.0 million and RMB50.9 million, respectively, accounting for 16.5%, 14.3%, 30.2% and 29.8% of our total purchase amounts, respectively.
Business · p. 156
The majority of our raw materials and components are sourced from multiple suppliers, reducing our dependency on any single source and enhancing our resilience against potential supply chain disruptions.
Business · p. 155
We work under framework agreements with our suppliers, which specify the technical specifications, pricing, delivery terms, and quality control standards.
In 2023, 2024 and 2025 and for the five months ended May 31, 2026, purchases from our five largest suppliers in each year/period amounted to RMB5.4 billion, RMB14.1 billion, RMB18.1 billion and RMB7.5 billion, respectively, accounting for 41.9%, 56.5%, 62.1% and 62.5% of our total purchases in the same years/period.
Business · p. 153
During the Track Record Period, we primarily purchased raw materials from a limited number of suppliers and may be susceptible to concentration risk.
Business · p. 153
As a result of the concentration on the upstream supply chain, we rely on a number of major suppliers for raw materials, component, modules, among others.
Purchases from our single largest supplier (excluding suppliers of capital nature) in each period during the Track Record Period accounted for 38.3%, 15.5%, 16.4% and 9.5% of our total purchases in 2023, 2024, 2025 and the five months ended May 31, 2026, respectively, and purchases from our five largest suppliers (excluding suppliers of capital nature) in each period during the Track Record Period accounted for 51.7%, 22.7%, 32.5% and 28.1% of our total purchases in the same periods, respectively.
Summary · p. 5
Purchases from our single largest supplier (excluding suppliers of capital nature) in each period during the Track Record Period accounted for 38.3%, 15.5%, 16.4% and 9.5% of our total purchases in 2023, 2024, 2025 and the five months ended May, 31 2026, respectively, and purchases from our five largest suppliers (excluding suppliers of capital nature) in each period during the Track Record Period accounted for 51.7%, 22.7%, 32.5% and 28.1% of our total purchases in the same periods, respectively.
Business · p. 145
None of our Directors, their close associates, or any Shareholder, which to the best knowledge of our Directors owns more than 5% of the total number of issued Shares, had any interest in any of our five largest suppliers for each period during the Track Record Period.
Purchases from our largest supplier in each year/period during the Track Record Period were RMB855.0 million, RMB863.0 million, RMB916.8 million and RMB192.1 million, respectively, accounting for 21.7%, 22.3%, 20.2% and 16.1% of our total purchases for the respective years/periods.
Business · p. 159
Except for Haier Group, all of our top five suppliers in each year/period during the Track Record Period were Independent Third Parties.
Business · p. 160
To mitigate such risk exposure, we have implemented specific measures across sales, R&D and procurement, primarily including expanding independent third-party customer base and enhancing our procurement capabilities and supplier diversification.
In 2023, 2024, 2025 and the five months ended May 31, 2026, purchases from our five largest suppliers accounted for 42.5%, 38.7%, 30.8% and 32.1% of total purchases for the respective period.
Summary · p. 6
Supplier selection is governed by strict food-safety and quality thresholds, with all raw materials sourced from a qualified list of vetted vendors to keep specifications consistent nationwide.
In 2023, 2024 and 2025 and for the four months ended April 30, 2026, purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB652.4 million, RMB779.6 million, RMB1,046.7 million and RMB608.0 million, respectively, accounting for 53.0%, 26.8%, 18.1% and 22.3% of our total purchases in the same periods, respectively.
Summary · p. 4
In 2023, 2024 and 2025 and for the four months ended April 30, 2026, purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB652.4 million, RMB779.6 million, RMB1,046.7 million and RMB608.0 million, respectively, accounted for 53.0%, 26.8%, 18.1% and 22.3% of our total purchases in the same periods, respectively.
Business · p. 160
For critical product categories, we seek to maintain multiple sourcing options or contingency arrangements to mitigate supply concentration risk.
In 2023, 2024, and 2025 and for the four months ended April 30, 2026, purchase from our top five suppliers in each applicable period during the Track Record Period accounted for 24.8%, 23.6%, 21.8%, and 27.4% of our total purchase, respectively, and purchase from our largest supplier in each applicable period during the Track Record Period accounted for 6.4%, 6.1%, 6.2%, and 9.4% of our total purchase, respectively.
Summary · p. 4
We do not rely on any third-party suppliers for the provision of our core services and products.
Business · p. 141
While our ERP consulting and implementation services involve the integration of third-party ERP software, we collaborate with multiple ERP software providers and maintain stable business relationships with them.
In 2023, 2024 and 2025 and the four months ended April 30, 2026, our purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB1,612.2 million, RMB2,760.9 million, RMB2,345.5 million and RMB1,736.8 million, respectively, accounting for 38.1%, 39.6%, 32.3% and 37.5% of our total purchase, respectively, for the same years/periods, while our purchase from the largest supplier amounted to RMB1,111.1 million, RMB1,645.6 million, RMB759.4 million and RMB802.0 million, respectively, accounting for 26.3%, 23.6%, 10.5% and 17.3% of our total purchases, respectively, for the same years/periods.
Summary · p. 4
To minimize the risk of reliance on any single supplier and maintain sourcing stability and bargaining power, we generally retain multiple suppliers for our principal raw materials.
Business · p. 144
During the Track Record Period, all of our five largest suppliers in each period were Independent Third Parties.
Purchase from our top five suppliers in each year/period during the Track Record Period accounted for 90.1%, 91.3%, 85.0% and 81.9% of our total purchase in 2023, 2024, 2025 and the three months ended March 31, 2026, respectively.
Business · p. 155
To mitigate supplier concentration risk, we have developed relationships with alternative wafer foundries as backup suppliers, and have been exploring overseas foundry partnerships in Korea and Singapore as contingency arrangements.
Business · p. 155
We have maintained long-term and stable relationships with our major foundry partners dating back to 2009, generally under framework agreements with initial terms of three to five years subject to annual renewal, and we did not experience any supply disruption or material adverse change in such relationships during the Track Record Period and up to the Latest Practicable Date.
For the years ended December 31, 2023, 2024 and 2025 and the four months ended April 30, 2026, our purchases from our five largest suppliers accounted for 27.7%, 37.7% and 34.8% and 49.4% of our total procurement amount, respectively.
Summary · p. 5
We uphold stringent requirements for supplier admission, assessment, and auditing throughout the supplier lifecycle.
Business · p. 164
At present, all imported core components utilized in our products have domestic alternatives, underscoring our strategic focus on enhancing supply chain resilience and fostering local innovation.
During the Track Record Period, our purchases from the largest supplier in each year/period accounted for 18.7%, 43.2%, 10.1% and 6.7% of our total cost of sales for the respective years/period.
Business · p. 149
For the years ended December 31, 2023, 2024 and 2025 and the five months ended May 31, 2026, our purchases from the five largest suppliers in each year/period in aggregate accounted for 73.2%, 74.7%, 39.6% and 31.5% of our total cost of sales for the respective years/period.
Business · p. 149
The increase was primarily attributable to the settlement of costs previously incurred by ZhongAn Technology in connection with customer contracts novated to us, following ZhongAn Technology's decision to cease providing solutions to third-party customers.
The aggregate purchases from our five largest suppliers during the year ended December 31, 2024 and 2025 and the five months ended May 31, 2026 amounted to approximately RMB14.2 million, RMB35.3 million and RMB17.2 million, respectively, and accounted for approximately 42.6%, 45.0% and 65.4% of our total purchases for the respective year/period.
Business · p. 195
During the Track Record Period, our suppliers primarily included (i) suppliers of raw materials and consumables for our drug development, (ii) suppliers of utilities, such as water and electricity, for our R&D, as well as production, and (iii) CROs, who provide third-party contracting services for certain non-clinical research and clinical implementation requiring specific qualifications or resources, such as procedures and studies that must be conducted in compliance with the GLP.
Business · p. 195
To the best of our knowledge, our five largest suppliers in each year during the Track Record Period are Independent Third Parties.
During the Track Record Period, purchases from our five largest suppliers for each year or period during the Track Record Period were RMB222.1 million, RMB273.8 million, RMB306.9 million and RMB95.5 million in 2023, 2024 and 2025 and the three months ended March 31, 2026, respectively, accounting for 33.7%, 27.8%, 25.5% and 28.2% of our total purchases for the same periods, respectively.
Summary · p. 6
To mitigate supply chain concentration risks, we strategically collaborate with multiple suppliers for our raw materials, packaging materials and logistics services.
Purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB165.2 million, RMB796.3 million, RMB912.2 million and RMB483.3 million, respectively, accounting for 66.2%, 59.2%, 52.4% and 52.7% of our total purchases for the respective year/period.
Summary · p. 11
To mitigate potential fluctuations of component prices, we maintain multiple qualified suppliers for key components, enter into long-term supply agreements where appropriate, and regularly assess supplier performance to avoid over-reliance on any single supplier.
Business · p. 145
Purchases from our largest supplier in each year/period during the Track Record Period amounted to RMB95.4 million, RMB297.4 million, RMB309.4 million and RMB153.4 million, respectively, accounting for 38.2%, 22.1%, 17.8% and 16.7% of our total purchases for the respective year/period.
In 2023, 2024, 2025 and for the four months ended April 30, 2026, the aggregate purchases from our top five suppliers amounted to RMB52.5 million, RMB62.9 million, RMB70.3 million and RMB26.6 million, respectively, which accounted for 20.0%, 21.1%, 21.7% and 23.3% of our total purchases in each respective period.
Summary · p. 6
For the same periods, purchases from our largest supplier amounted to RMB17.3 million, RMB18.5 million, RMB19.9 million and RMB6.8 million, respectively, which accounted for 6.6%, 6.2%, 6.1% and 6.0% of our total purchases in each respective period.
Business · p. 173
We believe we have access to alternative sources of our major products and services with comparable quality and pricing.
In 2023, 2024, 2025 and the three months ended March 31, 2026, the aggregate purchase amounts from our five largest suppliers in each year/period during the Track Record Period were RMB3,439.8 million, RMB8,763.5 million, RMB12,796.8 million and RMB6,638.6 million, representing 52.0%, 53.6%, 51.5% and 52.4% of our total purchase amount, respectively.
Business · p. 178
We maintain a diversified supply base comprising no fewer than three qualified suppliers for each category of key raw materials, with comparable commercial terms available to mitigate concentration risk.
Business · p. 178
We believe that alternative suppliers from other locations are available to us on comparable commercial terms.
Purchases from our five largest suppliers in 2023, 2024 and 2025, and for the four months ended April 30, 2026 accounted for 74.1%, 63.7%, 67.0% and 70.3%, respectively, of our total purchases for the same periods.
Summary · p. 5
Purchases from each of our largest suppliers accounted for approximately 22.0%, 16.3%, 25.9% and 33.5% of our total purchases in 2023, 2024 and 2025, and for the four months ended April 30, 2026, respectively.
Business · p. 178
In particular, we have established a strategic partnership with our key wafer foundry through equity investment, and we are its sole industrial shareholder.