As of June 30, 2024, we had 263 projects carrying forward to the next financial period with a total amount of RMB193.2 million.
Business · 第 306 页
As of June 30, 2024, we had carried over 263 projects, with 172 projects expected to expire in 2024 and 91 projects expected to expire thereafter.
Business · 第 289 页
In 2021, 2022, 2023 and June 30, 2024, we submitted 57, 99, 157 and 76 tenders, respectively, among which 47, 86, 138 and 64 tenders were awarded to us, respectively, representing a tender success rate of approximately 83%, 87%, 88% and 84%, respectively.
We have accumulatively obtained design-wins for 44, 101, 210 and 275 car models, net of terminated projects, as of December 31, 2021, 2022 and 2023 and June 30, 2024, respectively.
Summary · 第 4 页
As of the Latest Practicable Date, among our total design-wins, over 135 car models were under development process towards mass production, representing our backlogs of potential orders for vehicles not yet mass-produced.
Summary · 第 25 页
Of the 44 car models for which we obtained design-wins as of December 31, 2021, 42 car models were mass produced during the Track Record Period, and the remaining two also generated revenue during the same period.
浙江太美医疗科技股份有限公司Zhejiang Taimei Medical Technology Co., Ltd.02576.HK
截至2024年3月末在手订单超过16亿元
In addition, we maintain a substantial project backlog of over RMB1.6 billion as of March 31, 2024, involving around 3,500 projects for software products and digital services.
Summary · 第 6 页
For example, from the six months ended June 30, 2023 to the same period in 2024, our contracts newly acquired increased by 7.8% to RMB325.1 million.
荣利营造控股有限公司Wing Lee Development Construction Holdings Limited09639.HK
未完成工程订单大幅波动及投标成功率下降
Our backlog value increased significantly from approximately HK$221.4 million as at 31 March 2022 to approximately HK$722.0 million as at 31 March 2023.
Business · 第 180 页
Our backlog value then remained relatively stable at approximately HK$707.6 million as at 31 March 2024, in which the addition of value of contact works for projects awarded during FY2023/24 (including Project No. #10, Project No. #11 and Project No. #13) roughly outweighed the service revenue recognised during the same financial year.
Business · 第 181 页
Our tender success rate decreased from approximately 33.9% for FY2021/22 to approximately 28.4% for FY2022/23 and remained relatively stable at approximately 29.0% for FY2023/24.
黑芝麻智能国际控股有限公司Black Sesame International Holding Limited02533.HK
订单积压价值增至2024年6月末1.609亿元
In the second quarter of 2023 and 2024, the value of orders we fulfilled was RMB77.2 million and RMB153.6 million, respectively.
Summary · 第 3 页
We provide Huashan A1000 SoCs for Geely’s Lynk & Co 08 mass produced in September 2023, and anticipate a steady growth in the revenue from this model as its sales continues in 2024.
As of the Latest Practicable Date, we had a backlog of 1,320 aircraft, which will support our production for several years.
Summary · 第 3 页
The decrease in the number of orders was primarily due to the significant number of orders arising as a result of increased customer demand and consumption preferences following the COVID-19 pandemic in 2021 and 2022, and a change in general macroeconomic conditions, in particular, general increases in interest rates, which affected the level of consumer spending on premium and lifestyle products, including our aircraft.
Business · 第 242 页
The increase in the number of net deliveries resulting from improvements in our average production rate, when taken together with the decrease in the number of orders over the same period, resulted in a reduction in our backlog for 2023, as compared to the previous year.
瑞昌国际控股有限公司RUICHANG INTERNATIONAL HOLDINGS LIMITED01334.HK
合同负债积压约3.67亿至4.21亿元及变动
As at the 31 December 2021, 2022 and 2023 and up to the Latest Practicable Date, the aggregate contract value of our backlog (exclusive of VAT) was approximately RMB186.5 million, RMB409.0 million, RMB366.5 million and RMB421.0 million, respectively.
Business · 第 152 页
As at the Latest Practicable Date, our ending value of backlog of approximately RMB421.0 million, which was derived from sale orders of SRU and VOCs incineration equipment, catalytic cracking equipment, process burners and heat exchangers of approximately RMB172.5 million, RMB179.5 million, RMB40.8 million and RMB28.2 million, respectively.
Our Group generally do not compile backlog data for our sales of in-vehicle hardware products business line or the SaaS value added business line during the Track Record Period.
Business · 第 293 页
As at 31 December 2023, we had over 4,000 orders in our backlog for our SaaS subscription services.
Business · 第 293 页
Out of the amount not yet recognised of RMB69.5 million as at 31 December 2023, it is expected that approximately RMB47.6 million will be recognised for the year ending 31 December 2024 and approximately RMB21.9 million will be recognised after 31 December 2024.
中赣通信(集团)控股有限公司Zhonggan Communication (Group) Holdings Limited02545.HK
项目结存约8.77亿元及转化率披露
The closing balance of the Group’s backlog during the Track Record Period amounted to approximately RMB584.4 million, RMB1,135.6 million and RMB876.7 million, respectively, and the Group’s Infrastructure Construction Services business sub-segment was its main contributor.
Business · 第 216 页
For the years ended 31 December 2021, 2022 and 2023, the conversion rate of contract value into actualised work orders for the Completed Projects for Telecommunications Infrastructure Services was approximately 66.2%, 68.2% and 72.2%, respectively.
Business · 第 214 页
During the Track Record Period and up to the Latest Practicable Date, nine of the Group’s Completed Projects which are also Major Projects (comprising six Infrastructure Construction Services projects and three Infrastructure Maintenance Services projects) recorded a significant shortfall of approximately 50% or above between the contract value and the amount of revenue recognised up to the Latest Practicable Date.
In 2021, 2022 and 2023, three, four and 12 of the data management solution projects went through a bidding process, measured by the signing date of the relevant project agreements, representing RMB35.8 million, RMB17.1 million and RMB19.3 million of the total project value, respectively.
Business · 第 204 页
In 2021, 2022 and 2023, we participated in 14, 15 and 21 bidding process, respectively. Our bidding success rate was 21.4%, 46.7% and 66.7%, respectively.
Business · 第 204 页
Any project with a bidding price above RMB2.0 million shall also be approved by our CEO.
According to the payment terms of our existing revenue-generating contracts as of February 29, 2024 (“Existing Contracts”), which provide for monthly or quarterly payments, upfront payments, milestone payments and contingent payments, among others, our total contract value (excluding potential royalties under our collaboration programs) is not less than US$280 million (equivalent to HK$2,188 million).
Business · 第 447 页
Based on the payment schedules as set out in our Existing Contracts as well as our revenue pattern during the Track Record Period, we expect that the majority of our revenue to be generated in 2024 would be attributable to contracts awarded in 2024 rather than to contracts entered into prior to 2024, as our contracts are generally program-based and in particular, for our solid-state R&D services, are typically short term with a contract performance period of less than six months.
Business · 第 447 页
We believe that our High Confidence Revenue will be achieved, as it mostly represents upfront payments and monthly or quarterly payments, which will be recognized by lapse of time.
As our marketing service under each project is typically implemented and delivered in one week to three months, during the Track Record Period, our backlog contract value of marketing projects as of the end of a period is significantly lower that the revenue of marketing service for that period.
Business · 第 231 页
Therefore, our backlog contract value at the end of 2022 was significantly lower than that as of the end of previous years during the Track Record Period. As we experienced a steady growth in 2023, our backlog contract value as of December 31, 2023 increased.
天津建设发展集团股份公司Tianjin Construction Development Group Co., Ltd.02515.HK
项目式经营，逾95%收入经投标取得
During the Track Record Period, we obtained a large majority of our projects through tendering, accounting for more than 95% of our total revenue generated from construction projects.
Summary · 第 3 页
We are awarded construction projects by our customers on a project-by-project basis with no long-term commitment.
Financial Information · 第 284 页
As of September 30, 2023, we had 34 ongoing projects with a backlog value of RMB168.7 million, which represented a significant increase of RMB111.5 million as compared to June 30, 2023.
For FY2020, FY2021, FY2022 and 6M2023, the overall success rate of our tenders (calculated based on the aggregate number of successful tenders divided by the aggregate number of tenders submitted for all business lines) was approximately 61.2%, 72.0%, 64.5% and 71.2%, respectively.
Financial Information · 第 292 页
The decrease in the tender success rate from FY2021 to FY2022 was mainly attributable to the increase in the number of tenders submitted by our Group for the relevant services from FY2021 to FY2022 in alignment with our business expansion with a view to undertaking more and new business opportunities.
Business · 第 147 页
Subsequent to the Track Record Period and up to the Latest Practicable Date, (i) we submitted 88 tenders and 29 quotations (for contracts under existing and new projects); and (ii) we were awarded 28 new projects through tenders and quotation with an aggregate contract sum (excluding tax) estimated to be more than approximately RMB56.1 million.
As a result, design wins do not guarantee any definite volume of order.
Business · 第 222 页
During the Track Record Period, there was no termination of design win contracts by any customer after we obtained design win from such customer.
Business · 第 222 页
Our design wins for mass production of LiDAR products increased from 58 vehicle models as of June 30, 2023 to 62 vehicle models as of the Latest Practicable Date.
As of the Latest Practicable Date, we have secured purchase orders of not less than RMB613 million, revenue of which are not at all and/or fully recognized during the Track Record Period and are expected to be recognized as revenue in FY2023.
Summary · 第 21 页
Our contract value as at the end of year/period increased by 18.2% from RMB109.4 million as at December 31, 2020 to RMB129.3 million as at December 31, 2021, further increased by 93.7% to RMB250.5 million as at December 31, 2022, and further increased by 17.2% to RMB293.6 million as at June 30, 2023.
Business · 第 385 页
It is expected that 53 of the aforementioned projects will be completed in FY2023 with contract value of not less than RMB175.0 million and the remaining 9 projects with contract value of RMB65.0 million will be completed after FY2023.
During the Track Record Period and up to the Latest Practicable Date, we had received a cumulative total of 30 letters of nomination associated with 16 OEM customers for various projects. Among these, three letters of nomination (in relation to three projects) were discontinued.
Business · 第 266 页
Among these, as of the Latest Practicable Date, 16 projects had successfully reached the series production stage, including two projects which discontinued sales after series production, 18 projects were in the project development stage, and one project had been temporarily paused.
Business · 第 266 页
During the Track Record Period and up to the Latest Practicable Date, we had ceased cooperation with two of our OEM customers who issued a total of three letters of nomination to us.
As of the Latest Practicable Date, we have total confirmed and indicative orders from our customers of 56.4GWh for our ESS battery products and 81.0GWh for our EV battery products, the majority of which were expected to be delivered gradually within next two to three years, subject to further confirmation from our customers.
Business · 第 273 页
We have received orders for our 320Ah ESS battery products of over 20GWh in aggregate from overseas ESS battery customers, including a large-scale energy storage solution provider in the United States, a leading photovoltaic power station system integrator and solar station developer in the United States and a leading renewable energy company in the Asia-Pacific region headquartered in Singapore.
Summary · 第 30 页
Going forward, we may also experience further delays in realizing our backlog if the price of lithium carbonate further decreases or the market demand weakens.
升辉清洁集团控股有限公司Shenghui Cleanness Group Holdings Limited02521.HK
中标率、客户保留率及项目储备变动
For the years ended 31 December 2020, 2021 and 2022 and the six months ended 30 June 2023, our tender success rate was approximately 33.8%, 28.1%, 50.8%, 39.2% and 48.3%, respectively, for all tenders and approximately 87.0%, 73.5%, 77.3%, 81.0% and 78.7%, respectively, for tenders involving new contracts for existing projects.
Summary · 第 3 页
Our customer retention rates in each year/period during the Track Record Period amounted to 61.8%, 62.0%, 64.7% and 73.3% for the years ended 31 December 2020, 2021 and 2022 and the six months ended 30 June 2023, respectively.
Summary · 第 3 页
For the years ended 31 December 2020, 2021 and 2022 and the six months ended 30 June 2022 and 2023, the ending value of backlog per project amounted to approximately RMB2.0 million, RMB2.4 million, RMB2.5 million, RMB2.0 million and RMB2.7 million, respectively.
Our backlog reached US$410.6 million as of June 30, 2023, which represents the aggregate amount of service fees for services that we have contracted to perform but have not performed yet.
Financial Information · 第 301 页
The continued increase in the number of projects during the Track Record Period reflects our customers’ trust in us and foretells our revenue and profit growth potential.
Financial Information · 第 301 页
We expect commercial manufacturing projects to be a strong driver of our future revenue growth after we launch the expected commercial manufacturing of the first ADC drug in the near future.