For details, see "Risk Factors – Risks Related to Our Business and Industry – We have recorded net losses, net liabilities and operating cash outflow during the Track Record Period and recorded net current liabilities as of March 31, 2023, and we may not be able to achieve or subsequently maintain profitability."
Summary · 第 18 页
We usually grant a credit term ranging from 3 to 6 months to our customers, whereas our suppliers, especially the new suppliers, usually grant us shorter credit terms.
Summary · 第 24 页
Furthermore, taking into account (i) the financial resources available to us, including a total of RMB2,990 million liquid cash resources as of March 31, 2023 (that include cash and cash equivalents, short-term and long-term bank deposits, short-term investments measured at fair value through profit or loss, restricted cash), (ii) the portion of the estimated net proceeds from the Global Offering expected to be used for working capital and general corporate purposes, (iii) our good track record in being able to raise money from renowned investors to finance our business, as evidenced by our historical fund-raising activities, and (iv) our plans to continue to enhance our financial performance, our Directors believe that we have sufficient working capital for our present requirements and for the next 12 months from the date of this Prospectus.
In addition, in view of our net cash outflows, net liabilities position and net losses during the Track Record Period, we plan to ensure our working capital sufficiency by taking advantage of abovementioned measures to narrow down our net loss and improve our profitability.
Summary · 第 8 页
Further, as evidenced by our historical equity financing activities, we are able to obtain investment from well-known institutions.
Although we recorded significant net current liabilities during the Track Record Period, our Directors are of the view that we have sufficient working capital to cover at least 125% of our costs, including research and development expenses and administrative expenses (including any production costs), for at least the next 12 months from the date of this prospectus, primarily for the reasons set out below:
Financial Information · 第 529 页
Primarily as a result of this debt-to-equity swap, our net current liabilities decreased to RMB947.9 million as of April 30, 2023.
Financial Information · 第 529 页
As of April 30, 2023, we recorded RMB1,952.3 million in financial instruments issued to investors, which were attributable to the shares with preferential rights we issued to the Pre-IPO Investors and contributed to our net current liability position historically.
The intangible assets were excluded in the calculation of our Group's unaudited pro forma adjusted consolidated tangible financial information, resulting in the unaudited pro forma adjusted consolidated net tangible liabilities of our Group attributable to owners of our Company per Share.
Summary · 第 9 页
Our Directors confirm that, taking into account our current cash and cash equivalents, anticipated cash flows from operations, proceeds from the Global Offering and banking/credit facilities available to us, as well as the mitigating factors to our net current liabilities as discussed above, we will have available sufficient working capital for our present requirements that is for at least the next 12 months from the date of this prospectus.
Financial Information · 第 553 页
Therefore, we believe that our operating income generated from our business operations will remain stable. Accordingly, we anticipate that net cash generated from operating activities will remain stable going forward.
As of 31 December 2020, 2021 and 2022, we had net liabilities of RMB2,462.2 million, RMB2,908.5 million and RMB4,369.7 million, respectively.
Financial Information · 第 277 页
As of 31 December 2022, our total liquidity resources, including the bank balances and cash, time deposits, restricted bank deposits, and financial assets at fair value through profit and loss, amounted to RMB2.2 billion.
We had net current liabilities of RMB2,145.1 million, RMB814.7 million and RMB760.0 million as of December 31, 2020, 2021, and 2022.
Financial Information · 第 318 页
We expect to receive net proceeds from the Global Offering of approximately HK$93.8 million, based on the low end of the indicative Offer Price range set out in this document.
Financial Information · 第 319 页
Taking into account the financial resources available to us, including our cash and cash equivalents, available borrowings, as well as estimated net proceeds from the Global Offering, our Directors are of the view that we have sufficient working capital required for its operations at present and for at least the next 12 months from the date of this prospectus.
宏信建设发展有限公司Horizon Construction Development Limited09930.HK
2020年及2021年末录得净流动负债
Our net current liabilities decreased from RMB272.3 million as of December 31, 2020 to RMB18.0 million as of December 31, 2021, primarily due to (i) an increase in trade receivables of RMB1,668.4 million mainly attributable to increases in our revenue and business scale as a result of our business expansion;
Financial Information · 第 385 页
Although we had net current liabilities as of December 31, 2020 and 2021, our Directors are of the opinion, and the Joint Sponsors concur, that we have sufficient working capital to meet our present and future cash requirements for at least the next 12 months from the date of publication of this Prospectus, taking into account our cash flow generated from operating activities, bank borrowings and available banking facilities and the net proceeds from the Global Offering, due to the following:
Financial Information · 第 386 页
We had net cash flow from operating activities in the amount of RMB1,027.3 million, RMB2,449.4 million and RMB2,822.8 million for the years ended December 31, 2020, 2021 and 2022, respectively.
We recorded net current liabilities of RMB145.8 million as of December 31, 2021, as compared to net current assets of RMB386.0 million as of December 31, 2020.
Summary · 第 9 页
Our Series A Preferred Shares will automatically be converted into ordinary shares upon the Global Offering.
Summary · 第 9 页
Our Directors are of the opinion that, taking into account the financial resources available to the Group, including the estimated net proceeds from the Global Offering and the expected cash generated from operating activities, we have sufficient working capital for our present requirements and for the next 12 months from the date of this prospectus.
We recorded net current liabilities of RMB53.2 million and RMB3,595.7 million as of March 31, 2020 and 2021, respectively.
Summary · 第 15 页
Our net current liabilities position as of each of these dates was mainly due to the warrants and/or redeemable convertible preferred shares in connection with our Pre-IPO Investments.
Summary · 第 15 页
As a result, upon the completing of the Global Offering, our redeemable convertible preferred shares will be re-designated from financial liabilities to equity such that our current net liabilities position is expected to change to a net assets position.
During the Track Record Period, we recorded net current liabilities of RMB202.5 million, RMB65.0 million and RMB106.7 million as of December 31, 2020, 2021 and 2022, respectively.
Summary · 第 15 页
Notwithstanding the above, our Directors are of the view that we will have available sufficient working capital to meet our present requirements and for at least the next twelve months from the date of this document, taking into account cash on hand and cash at banks, cash generated from operating activities, standby line of credit and the estimated net proceeds we expect to receive from the Global Offering.
Summary · 第 16 页
As of December 31, 2020, 2021 and 2022, we recorded net current liabilities of RMB202.5 million, RMB65.0 million and RMB106.7 million, respectively.
Our net current liabilities decreased by 8.4% to RMB120.3 million as of December 31, 2020 from RMB131.4 million as of December 31, 2019, primarily due to (i) the increase of RMB271.0 million in financial assets at fair value through profit or loss, and (ii) the increase in prepayments and other receivables of RMB56.8 million, partially offset by (i) an increase of RMB81.6 million in accrued expenses and other current liabilities, and (ii) an increase of RMB219.7 million in contract liabilities, resulting from an increase in gross billing from online high-end investor education services.
Financial Information · 第 406 页
Our net current liabilities decreased by 7.8% to RMB110.9 million as of December 31, 2021 from RMB120.3 million as of December 31, 2020, primarily due to (i) an increase of RMB403.0 million in financial assets at fair value through profit or loss and (ii) an increase of RMB81.9 million in prepayments and other receivables, partially offset by (i) an increase of RMB320.4 million in contract liabilities, (ii) an increase of RMB73.6 million in accrued expenses and other current liabilities, and (iii) an increase of RMB62.7 million in income tax payable.
Financial Information · 第 406 页
We recorded net current assets of RMB287.5 million as of October 31, 2022 as compared to net current liabilities of RMB110.9 million as of December 31, 2021, primarily due to (i) an increase of RMB9.1 million in financial assets at fair value through profit or loss, (ii) a decrease of RMB208.6 million in contract liabilities and (iii) a decrease of RMB166.1 million in accrued expenses and other current liabilities, partially offset by a decrease of RMB48.9 million in prepayments and other receivables.