Exclusive bancassurance arrangements commonly include termination rights which may be triggered if specific, pre-defined conditions are met, for example upon material breaches by either party, in the event a party becomes a competitor, upon a change of control or in the event of force majeure.
Business · 第 299 页
Our bancassurance partnerships, particularly exclusive bancassurance arrangements, typically last for a duration of ten to 15 years.
In addition to the abovementioned, pursuant to our current hospital management agreement entered into between Huangshan Shoukang Hospital and our Group, we are entitled to receive management fees calculated based on a fixed percentage (i.e. 10.0%) of the revenue of Huangshan Shoukang Hospital for a period of 40 years from January 1, 2022 to December 31, 2061.
Financial Information · 第 588 页
We recorded the management fee received from Huangshan Shoukang Hospital of RMB36.1 million, RMB39.5 million and RMB37.8 million for the years ended December 31, 2022, 2023 and 2024, respectively.
During the Track Record Period, we entered into five consecutive supplemental supply agreements with Russian Top-tier Retailer. In December 2023, we extended the terms of our framework supply agreement with Russian Top-tier Retailer with a term up to 31 December 2030.
Summary · 第 7 页
We typically enter into framework agreements with our major business customers, generally for a term from one to three years. These agreements are generally on a non-exclusive basis and contain no minimum purchase obligations.
Business · 第 195 页
In light of our mutually beneficial relationship with Russian Top-tier Retailer mentioned above, we were able to extend the term of our framework supply agreement with Russian Top-tier Retailer with no target purchase volume in December 2023 with a term up to 31 December 2030.
We entered into an AI small molecule drug discovery collaboration worth up to US$250 million with a global leading pharmaceutical company headquartered in Indianapolis, Indiana, for our drug discovery solutions business in April 2023.
Business · 第 439 页
We generally have exclusivity obligations under the collaboration/ cooperation agreements, prohibiting us to research, develop, manufacture or commercialize, or enable other parties to conduct such activities of any compounds, molecules or other targeting moieties that are related to the collaboration/cooperation perpetually or within a specified period, subject to certain exceptions, such as those work products demonstrating only sub-therapeutic, non-clinically meaningful properties.
Business · 第 441 页
Typically, both parties can terminate the collaboration/ cooperation agreements if the other party fails to cure a breach within a notice period arranging from 15 to 60 days, and can also terminate the agreements without cause upon 30 to 60 days’ prior written notice.
(ii) contractual agreements on future pricing with certain design-win customers upon SOP, which stipulate annual price reductions ranging from 1% to 5%
Summary · 第 9 页
For our LiDAR hardware products for customers in the ADAS industries, we adopt a volumebased pricing structure in order to encourage customers to order more units at once, and thereby increase our sales volume and potentially reduce per-unit production costs.
Since January 1, 2023 and up to the Latest Practicable Date, we have entered into 10 cooperation agreements with local government authorities and SOEs which set out commitments of such government authorities and SOEs such as (i) strategic cooperation to facilitate the promotion of AI education or (ii) prioritising purchasing education smart robotic products and services from our Group within a specified period with actual purchase orders being subsequently formalized through purchase orders, which is not uncommon market practice according to Frost & Sullivan.
Business · 第 383 页
Among these cooperation agreements, we have entered into one framework sales contract under one of the government cooperation agreements, pursuant to which the counterparty shall purchase robotic products from our Group and the procurement amount for the three years from April 2023 shall be RMB450 million (of which RMB80 million is in relation to education smart robotic products and services), the details of which are subject to the placing of purchase order.
Geely Group is entitled to termination upon written notice in accordance with the general purchasing terms and conditions mutually determined by both parties. The framework purchasing agreement does not provide for specific provisions regarding its duration or renewal.
Business · 第 274 页
Due to the industry-wide chip shortages, Mobileye applied a non-cancellable non-refundable policy to the procurement of the base version of AD domain controllers and required us to provide a binding forecast of our procurement.
Business · 第 286 页
A tiered pricing structure has been adopted for the base version of AD domain controllers, and the purchase price is dynamically adjusted based on the sales volume.
The gross profit margin of our time charter services decreased from 33.4% in 2020 to 26.8% in 2021, primarily because our cost of sales related to such services increased significantly from RMB23.6 million in 2020 to RMB78.6 million in 2021, while we were not able to transfer such increase in costs to our customers primarily as the charter-out rates charged to our customers for two vessels were fixed by the long-term service contracts entered in 2020, which were lower as compared to the market rates in 2021.
Summary · 第 15 页
One of the contracts was entered into in December 2020 and completed in January 2022, and the other was entered into in April 2020 and completed in May 2021.
Summary · 第 15 页
The gross profit margin of our time charter services increased from 26.8% in 2021 to 61.3% in 2022, primarily due to increased average daily charter rates from approximately RMB73,000 in 2021 to approximately RMB191,000 in 2022 pursuant to the new service contracts signed in 2022, which was in line with the higher prevailing market rates in 2022 than that of 2021.
The EMC customer did not meet the demand originally anticipated in the Original EMC during the Track Record Period. We subsequently entered into the Supplemental EMC to negotiate the settlement of the trade receivable and extended the payment schedule, resulting in a decrease in the percentage of sharing revenue and longer payment cycles.
Financial Information · 第 527 页
As at 31 December 2020, 2021 and 2022, our trade receivable from our EMC customer amounted to approximately RMB69.0 million, RMB81.9 million and RMB89.8 million, respectively.
Financial Information · 第 527 页
The reversal of impairment losses on financial assets and contract assets increased by approximately RMB22.1 million or 2,223.4% from approximately RMB1.0 million for the year ended 31 December 2021 to approximately RMB23.1 million for the year ended 31 December 2022, primarily resulting from a decrease in expected credit loss rate related to our EMC customer during the year.
中天建设（湖南）集团有限公司Zhongtian Construction (Hunan) Group Limited02433.HK
与杭萧科技及湖南设计院订立EPC三方框架协议
During the Track Record Period, other than the EPC Tripartite Framework Agreement, we did not have any other material long-term strategic cooperation agreement with our customers.
Business · 第 228 页
In view of the growing market of prefabricated steel structure building construction in the PRC and the on-going government supportive policies in this regard, Zhongtian Construction entered into the EPC Tripartite Framework Agreement in November 2017 with Hangxiao Technology and Hunan Design Institute, a state-owned company established in the PRC, to jointly develop prefabricated steel structure building system for residential properties under the EPC model.