Hong Kong IPO disclosure precedents · 105 companies, 105 items
Substantial or rapidly growing prepayments (e.g. to suppliers, media platforms or for system development) and other receivables such as recoverable VAT, including stagnant prepayments for undelivered services.
Our prepayments on behalf of customers to utility suppliers increased by approximately 71.4% from approximately RMB4.6 million as of December 31, 2020 to RMB7.9 million as of December 31, 2021, due to the increase in prepayments to suppliers for utilities resulting from the increase in number of properties under our management.
Financial Information · p. 420
For residential projects, as the owner’s utility bill was mostly paid by the Group in advance, and subsequently settled by the owner. The temporary difference between the settlement by the owner and the payment made by us resulted to an increase of prepayment on behalf of customers to utility suppliers.
As of December 31, 2019, 2020, 2021 and 2022, the balance of our prepayments to suppliers and service providers amounted to RMB15.0 million, RMB29.0 million, RMB47.4 million and RMB40.2 million, respectively.
Financial Information · p. 452
Pursuant to the agreement entered into with the Marketing Agency, the parties agreed that, among other things, (a) we are entitled to place the relevant advertisements based on a fixed fees, which shall not be affected by future price adjustments; and (b) we shall be entitled to a refund of our prepayment if we were unable to utilize the prepayments during the term of the agreement.
Financial Information · p. 452
It is expected that such prepayment will be fully utilized on or before December 31, 2023.
Our current prepayments, other receivables and other assets significantly increased from RMB21.2 million as of December 31, 2021 to RMB47.6 million as of December 31, 2022.
Financial Information · p. 418
This increase was primarily attributable to the increase in prepayments amount to third-party contracting services (CRO and CDMO services) for pre-clinical evaluation and clinical trials of our product candidates and inventories.
Financial Information · p. 418
As of March 31, 2023, approximately RMB13.9 million, or 29.2% of our prepayments, other receivables and other assets as of December 31, 2022 were settled.
Our prepayments, deposits and other receivables increased from RMB14.0 million as of December 31, 2021 to RMB190.5 million as of December 31, 2022, primarily as a result of (i) an increase of prepayments for purchase of property, plant and equipment of RMB106.9 million, mainly representing prepayments for the project of our facility in Zhuhai and prepayments for the property in Beijing, (ii) an increase of prepayments for right-of-use assets of RMB45.3 million, mainly relating to the purchase of property in Beijing, (iii) an increase of value added tax recoverable of RMB12.0 million, largely relating to the purchase of property in Beijing, and (iv) an increase of deferred share issue costs for IPO of RMB9.9 million.
Our prepayment amounted to approximately RMB1.3 million, RMB25.3 million and RMB18.5 million as at 31 December 2019, 2020 and 2021, respectively.
Financial Information · p. 469
Having considered that we had previously received approximately RMB51.9 million from Customer P as advance payment which was recorded in contract liabilities as at 31 December 2020, our Directors considered the arrangement is reasonable.