Our trade receivables increased from RMB6.1 million as of December 31, 2024 to RMB23.7 million as of December 31, 2025, which were affected by the fluctuation of revenue recognized due to the payment schedule stipulated in the relevant agreements.
Financial Information · p. 251
As of July 31, 2026, RMB1.1 million, or 8.9%, of our trade receivables as of June 30, 2026 had been subsequently settled.
Financial Information · p. 251
Notwithstanding the above, our Directors are of the view that there is no material recoverability issue or heightened credit risk associated with these balances.
Certain of our major customers participate in bank-sponsored supply chain financing programs arranged with their relationship banks, under which participating banks invite suppliers, including our Group, to join such financing program.
Financial Information · p. 224
Loss on derecognition of trade receivables measured at FVTOCI represents the difference between the carrying amount of certain trade receivables and the consideration received upon their early settlement under a bank-sponsored supply chain financing arrangement.
Financial Information · p. 221
an increase in loss on derecognition of trade receivables measured at FVTOCI, which amounted to HK$4.5 million in 2025 as compared to HK$0.8 million in 2024
In January 2023, EpimAb Suzhou entered into an agreement with a third party to dispose its non-current assets and consumables at a total consideration of RMB120.0 million (excluding taxes), of which the first instalment of RMB65.0 million was paid upon delivery and the remaining will be paid within four years.
Financial Information · p. 244
The total consideration of the disposal was determined based on an asset valuation conducted by an independent third-party valuer.
Financial Information · p. 244
As of April 30, 2026, approximately RMB11.4 million, representing 25.2% of our current prepayments, other receivables and other assets as of December 31, 2025, were subsequently settled.
We had other receivables of approximately RMB769.6 million, RMB523.2 million and RMB527.4 million as at 31 December 2023, 2024 and 2025, respectively.
Financial Information · p. 293
Our other receivables increased from approximately RMB523.2 million as at 31 December 2024 to approximately RMB527.4 million as at 31 December 2025, primarily due to the increase in advance payment made on behalf of customers from approximately RMB483.0 million as at 31 December 2024 to approximately RMB516.6 million as at 31 December 2025, as we had provided advanced payment of VAT of approximately RMB33.6 million to one of our key account customers, Customer Y
Financial Information · p. 294
As at 31 January 2026, approximately RMB497.3 million, or 93.2% of our other receivables as at 31 December 2025, had been settled.
Notwithstanding the sharp decline in cash and cash equivalents throughout the Track Record Period, taking into account our internal financial resources including cash and cash equivalents of RMB14.3 million and investment in wealth management products which were redeemable on demand of RMB13.4 million as at 31 March 2025, our net cash generated from operations and available banking facilities of RMB125.0 million as at the Latest Practicable Date, and the estimated net proceeds from the Global Offering, we have sufficient working capital for our present requirements and for at least next 12 months from the date of this prospectus.
As at 31 December 2021, 2022 and 2023 and 30 June 2024, RMB21.9 million, RMB30.8 million, RMB13.2 million and RMB13.5 million, representing 49.3%, 68.6%, 32.1% and 30.2% of our total trade receivables respectively, were aged over one year.
Financial Information · p. 328
In addition, RMB30.8 million of trade receivables brought forward from 31 December 2021 (i.e. trade receivables aged over one year as at 31 December 2022) remained unsettled, which accounted for 69.3% of the total trade receivables as at 31 December 2021, as a result, there was a significant increase in the trade receivable turnover days from 271 days in FY2021 to 639 days in FY2022.
Financial Information · p. 324
In view of the above, we have negotiated settlement plans, including but not limited to extending the due date and formulating payment schedule and instalment amount, with certain property developer debtors and has been closely monitoring and following-up the settlement progress with these debtors.
Our trade receivables and contract assets turnover days decreased from approximately 120.8 days for the year ended 2020 to approximately 112.2 days for the year ended 2021 mainly due to the larger increase in revenue as compared to the increase in contract assets from the year ended 30 June 2020 to the year ended 30 June 2021 because of Projects 5046 and 5024, two public infrastructure projects involving temporary quarantine facilities at Penny's Bay, which contributed revenue of approximately HK$37.2 million and HK$21.1 million for the year ended 30 June 2021, respectively, but only had contract assets of approximately HK$1.0 million and HK$4.7 million as at 30 June 2021, respectively.
Financial Information · p. 315
Our retention receivables increased from approximately HK$12.7 million as at 30 June 2020 to approximately HK$14.4 million as at 30 June 2021 and further increased to approximately HK$20.7 million as at 30 June 2022 and approximately HK$21.5 million as at 31 October 2022.
Financial Information · p. 309
The allowance for credit losses increased as at 30 June 2022 as compared with 30 June 2021 mainly because of the full impairment of the outstanding trade receivables of approximately HK$0.6 million due from a customer who has defaulted in payment for the year ended 30 June 2022.
Prepayments, other receivables and other assets primarily consist of (i) other receivables from shippers for shipping fees, which represent the transportation fees uncollected from shippers on behalf of truckers upon fulfilment of the shipping orders under the freight platform services, as the majority of shippers generally paid such transportation fees to us shortly, but not immediately, after they confirmed the fulfillment of shipping orders during the Track Record Period; and (ii) government grants receivables, which represent the government grants from local government authorities to support the Group’s digital freight business.
Financial Information · p. 410
Our prepayments, other receivables and other assets balances decreased by 28.2% from RMB1,641.5 million as of December 31, 2021 to RMB1,179.0 million as of September 30, 2022, primarily because (i) we enhanced the settlement of shipping fees with our customers, and (ii) we received a considerable portion of government grants receivables in early 2022.
Financial Information · p. 411
We adopted comprehensive measures to manage the exposure to potential working capital mismatch, including close monitoring of relevant receivables, regular review of overdue balances by our senior management, and active communication with relevant shippers in case of any unusual delay of payment that went beyond the stipulated credit periods.