Long-term Agreements and Bulk Purchasing: We typically enter into strategic cooperation agreements lasting about three years to ensure relatively stable resources from our suppliers. In certain circumstances such as the risk of industrial supply shortage, we also enter into long-term agreements with suppliers to lock in prices and supply quantities and reduce costs through bulk purchasing.
Business · 第 181 页
As of March 31, 2026, we maintained stable relationship with multiple manufacturers of chip, chipsets and/or circuit boards, three of which had entered into long-term procurement agreements with us.
深圳四方精创资讯股份有限公司Shenzhen Forms Syntron Information Co., Ltd.06700.HK
与客户A及客户B订有主协议至2028年到期
We have established long-term collaborative relationships with Customer A and Customer B mainly under master agreements that provide a stable foundation for our partnerships.
Business · 第 158 页
The contract term with the parent company of the Customer B group is three years and will expire at the end of 2028.
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We have established master agreements with our major customers and have not encountered any difficulty in renewing them.
These concession agreements, typically spanning 25 to 35 years, provide a stable foundation for long-term operations, investment planning, and infrastructure lifecycle management.
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Exclusive rights in strategic regions such as Changsha and Pingjiang limit market competition and reinforce our market position.
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As of the Latest Practicable Date, we had nine concession agreements entered with Customer A, with durations of 16 years, 25 years, 25 years, 25 years, 25 years, 25 years, 28 years, 30 years, and 30 years with corresponding remaining durations of approximately 3.6 years, 3.6 years, 4.8 years, 4.8 years, 4.8 years, 10.8 years, 16.2 years, 22.3 years and 22.4 years, respectively.
In certain agreements, we have committed to dedicated capacity allocation, priority supply terms, and pricing advantages, reflecting mutual trust and strategic alignment with our leading customers.
Summary · 第 7 页
Under a long-term supply agreement, Customer A provides significant volume commitments, ensuring predictable demand. In turn, we formalize our production dedication through a capacity commitment letter, which prioritizes their supply and details a clear ramp-up schedule to meet their forecasted needs.
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Upon successful development and market launch of the products, contingent on meeting Customer A’s requirements regarding cost, quality, and capacity, we are granted either an exclusive right for a period of one to five years or a priority right to supply such jointly-developed products to Customer A.
In January 2025, we entered into a three-year legally binding strategic cooperation agreement with Customer A setting out specific cooperation goals, scope and scale.
Business · 第 148 页
To strategically support the continuing cooperation between our Group and Customer C, we have entered into legally binding framework sales agreements with Customer C on a consecutive basis since 2022.
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The latest framework agreement was entered into on 9 October 2025 for a term of one year expiring on 8 October 2026.
We typically enter into long-term memorandum of understanding or framework agreements with suppliers of key raw materials, including memory wafers and controller chips.
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Except for certain specialized projects where we require additional support from suppliers, they typically do not impose a minimum purchase requirement on us.
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The agreements are typically effective for three years from the date of signing and subject to automatic renewal unless terminated earlier.
InventisBio is eligible to receive an upfront payment, as well as milestone payments upon achievements of certain future pre-specified regulatory and sales milestones, with total payments in the range of approximately RMB400 million to RMB600 million, and tiered low-double-digit royalties on annual net sales of befotertinib in the Licensed Territory during the prescribed royalty term, which will expire, on a region-by-region (meaning each region of the Territory is measured independently) and product-by-product (meaning each licensed product form is measured independently) basis, on the expiration of InventisBio’s compound patent that contains the last valid claim on such product in such region, subject to further extension in accordance with the agreement.
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The agreement may be terminated (i) by either party for uncured material breach by the other party; (ii) by InventisBio if we abandon the development of befotertinib, develop other EGFR-T790M targeted drugs, or continuously fail to undertake substantial activities in relation to clinical trials of befotertinib for three months; or (iii) by us if certain befotertinib compound fails to be patented or such patents are later invalidated.
Business · 第 173 页
On December 30, 2023, we entered into a supplemental agreement with Mabworks, under which, after arm’s length negotiations taking into account the anticipated market performance of MIL60, we agreed to pay Mabworks a one-off buyout fee of RMB25.0 million in order to streamline project management and further optimize our resource allocation, and the parties agreed to terminate all future royalty arrangements under the collaboration agreement.
征祥医药（南京）集团股份有限公司Zenshine Pharmaceuticals (Nanjing) Group Co., Ltd.
与Cigalah订立10年中东独家许可分销协议
The MENA License and Distribution Agreement has a period of 10 years after the first commercial sale of sebaloxavir marboxil oral formulations in the Territory.
Business · 第 181 页
Cigalah Medpharm is required to meet certain minimum annual purchase obligations commencing from the second year of commercialization, calculated as no less than 70% of the forecasted purchase volumes for each country in the Territory over the ten-year term, with escalating volume targets across different markets in the Territory.
Business · 第 183 页
According to CIC, the arrangements of the MENA License and Distribution Agreement are in line with industry norms.
As of the Latest Practicable Date, RMB100 million of regulatory milestone payments had been triggered and become payable by Betta to us.
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Pursuant to the Betta Agreement, we are entitled to receive from Betta upfront payment and development milestone payment of RMB230 million.
Summary · 第 6 页
Pursuant to the CTTQ Agreement, we will be entitled to receive upfront and development milestone payments of up to RMB260 million, as well as commercial milestone payments of up to RMB290 million.
昆仑新能源材料技术（宜昌）股份有限公司Kunlun New Energy Materials Technology (Yichang) Co., Ltd.
框架购销协议不设最低承诺并含价格调整机制
There is no agreed minimum purchase commitment under the framework agreements.
Business · 第 150 页
The framework procurement agreements typically do not specify a minimum procurement amount.
Business · 第 166 页
We have been supplying Group A with our electrolyte products on a continuous basis since 2018 and are currently party to a three-year framework agreement with Group A.
We generally enter into legally binding sales framework agreements with our major customers, followed by individual sales contract for each individual purchase.
Business · 第 138 页
We have entered into long-term agreements with the majority of our major customers with a term of over three years, and have maintained business relations with our key customers of acoustic enhancement material products for over seven years.
We have established strategic cooperation partnerships with the following Class III Grade A hospitals: a public tertiary hospital located in Liaoning Province, the Affiliated Hospital of Yanbian University, and Xianyang Hospital of Yan’an University. These agreements typically have terms ranging from two to ten years.
Business · 第 148 页
This collaboration not only provides us with a significant and predictable volume of clinical trial projects but also serves as a demonstration site for our integrated platform, promoting its adoption by other medical institutions.
Business · 第 148 页
We worked with 296, 324, 539 and 563 partner hospitals in 2023, 2024 and 2025 and the six months ended June 30, 2026 respectively.
To ensure a stable wafer supply and mitigate risks of input price increases, capacity shortages and geopolitical supply chain disruptions, we entered into long-term agreements with several key suppliers.
Financial Information · 第 230 页
We align our rolling forecasts with foundry partners and capacity reservations, including multi-foundry arrangements and flexible take-or-pay terms, with periodic slot reallocation windows.
In addition, with a potential total deal value up to approximately US$282.0 million, in 2020, we granted HUYABIO International, LLC and its subsidiary HBI Pharma Ltd. an exclusive licence to develop and commercialise GH21 worldwide excluding Chinese Mainland, Hong Kong, Macau and Taiwan.
Summary · 第 2 页
(i) a one-time, non-refundable upfront payment of US$80,000,000; (ii) development, regulatory, and commercial milestone payments of up to US$1,450,000,000 in aggregate; and (iii) tiered royalty payments which are based on annual net sales at a rate of up to a low double digit precentage during the Royalty Term, subject to customary reductions including for payments for third party licenses.
Business · 第 191 页
We consider that the terms of the Gilead Licensing Agreement are fair and reasonable and the transactions contemplated thereunder are in the interests of our Company and our Shareholders as a whole.
During the Track Record Period, we entered into a ten-year sales agreement with one major customer for the sales of X-by wire solution from 2023 to 2033.
Business · 第 153 页
Meanwhile, we entered into five framework agreements with our major customers for the sale of brake-by-wire solutions without fixed contract terms.
Business · 第 153 页
There is no material breach of these agreements during the Track Record Period and up to the Latest Practicable Date.
During the Track Record Period, we entered into one distribution agreement with our MAH Business customer for the distribution of esomeprazole magnesium delayed-release capsules in the U.S. and service agreements with our CRO Services customers for the provision of CRO Services.
Business · 第 192 页
(iv) we manufacture (through contract manufacturer) and supply the product to the distributor on a mutually exclusive basis at a fixed price; (v) both parties share the net profits based on a predetermined percentage; and (vi) unless terminated for cause, the term is for a period of seven years and renewed automatically thereafter annually unless either party terminates.
Subsequent to the Track Record Period, we entered into a capacity assurance arrangement with Fullsemi Semiconductor pursuant to which Fullsemi Semiconductor will reserve a specified amount of 12-inch wafer fabrication capacity for us and our affiliates throughout 2026.
We entered into two three-year distribution agreements with this Hong Kong distributor, specifying a variety of terms including the payment method, pricing policies and delivery arrangements, for its distribution of our products in Hong Kong and Macau (through certain specified key chains), and China (through certain specified cross-border e-commerce platforms).
Business · 第 134 页
Our PRC distributors are required to purchase a minimum number of products as set forth in the respective agreements from the date of first delivery to a specified date, and thereafter a minimum annual purchase amount mutually agreed in writing.
Business · 第 136 页
Our CCMG products distributor is required to achieve (i) a minimum annual cumulative order amount as set forth in the agreement; and (ii) for the period from April 1, 2026 to December 31, 2027, a rolling three-month cumulative order amount as set forth in the agreement as of the last day of any month.
The GAS Agreement has a term of 20 years from the date of signing or/until the expiration of the last patent, whichever is later.
Business · 第 164 页
We are obligated to make milestone payments to our GAS Partner totaling AUD1,025,000, contingent upon the achievement of specific development and regulatory milestones in China:
Business · 第 165 页
We are obligated to pay our GAS Partner an annual royalty at a mid single-digit percentage of the gross revenue generated from the licensed patents in the preceding year.
To strengthen our supply chain stability, we also entered into cooperative agreements with certain orchards, whereby, among other things, we committed to purchase hog plums that meet the cultivation technical standards for Green Food from them while the orchards are also restricted from selling the hog plums to any third parties.
Business · 第 133 页
As these orchards utilise the hog plum seedlings we provided, we imposed geographical location requirements to ensure that these seedlings were planted in appropriate environment within Chongyi County.