港股IPO招股书披露先例 · 6 家公司，6 项
废料回收销售重叠指公司因处置生产废料或副产品（如废铝、含铜废料）而向原材料供应商销售，使该供应商同时成为客户的情形。招股书一般在概要、风险因素、业务及财务资料章节披露重叠主体的数目、购销金额与占比，并说明交易在日常业务中按正常商业条款公平磋商、销售与采购互不附带条件、双方为独立第三方，部分申请人还引述行业报告称此属行业惯例，或说明相关交易金额不重大、按总额入账且未以应收应付互抵。
Among our five largest suppliers during the Track Record Period, only Supplier E was also our customer.
Business · 第 147 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our sales to and purchases from Supplier E were conducted under separate business arrangements in the ordinary and usual course of business, on normal commercial terms and following arm’s length negotiations.
Business · 第 147 页
During the Track Record Period, some of our customers were also our suppliers of raw materials and consumables.
Summary · 第 8 页
The number of our overlapping customers and suppliers which were among either our five largest customers or five largest suppliers was 2, nil, 2 and 1 in 2023, 2024 and 2025 and the six months ended June 30, 2026, respectively.
Business · 第 159 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors confirmed that all of our sales to and purchases from these overlapping customers and suppliers were conducted in the ordinary course of business under normal commercial terms and on arm’s length basis.
Business · 第 159 页
Supplier F was also one of our five largest corporate customers in 2025.
Business · 第 155 页
In 2023, 2024 and 2025, purchase amount from Supplier F was nil, RMB16.5 million and RMB58.1 million, respectively, representing nil, 2.2% and 6.7% of our purchase amount for the same years, respectively, and revenue from Supplier F was consistently less than 0.1% of our total revenue for the same years, respectively.
Business · 第 155 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看On one hand, we procured beef tripe from Supplier F for use in our restaurant operations. One the other hand, if certain beef tripe or beef trip-related by-products in our restaurant operations do not meet our internal specifications for fresh presentation and immediate consumption, but may still remain suitable for alternative downstream applications following further processing, we may sell such products to Supplier F for use in further processing into prepared food or pre-packaged food products, or other industrial or commercial applications permitted under applicable laws and regulations.
Business · 第 155 页
During the Track Record Period, to the best knowledge of our Directors, we had seven major suppliers who are also our customers, or vice versa.
Business · 第 174 页
Our Directors have confirmed that all of our sales to and purchases from these overlapping customers and suppliers were conducted in the ordinary course of business under normal commercial terms.
Business · 第 175 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看During the Track Record Period, our sales and purchases with the overlapping customers and suppliers were not inter-conditional with each other.
Business · 第 175 页
During the Track Record Period, we had four overlapping customers and suppliers, namely supplier B, supplier D, supplier F and supplier H.
Business · 第 141 页
During the Track Record Period, Supplier B supplied aluminum bars to us and, at the same time, purchased the scrap aluminum generated from our manufacturing process.
Business · 第 142 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors confirm that all our sales to and purchases from the overlapping customers and suppliers were conducted at arm’s length in the ordinary course of business, and under normal commercial terms.
Business · 第 142 页
In 2022, 2023 and 2024, and the five months ended May 31, 2025, our purchase amount attributable to Supplier C amounted to RMB160.0 million, RMB188.0 million, RMB223.9 million, and RMB18.8 million, which accounted for 5.3%, 6.6%, 7.3% and 1.2% of our total purchases, respectively, and our sales amount attributable to Supplier C amounted to RMB6.6 million, RMB1.1 million, RMB3.9 million, and RMB0.7 million, which accounted for 0.2%, 0.0%, 0.1% and 0.0% of our total sales amount, respectively.
Business · 第 243 页
The transactions that we entered into with the overlapping supplier-customer were on an arm’s-length, mutually independent basis under normal commercial terms resulted from public tender processes.
Business · 第 243 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Given that (i) our relationship with the supplier-customer is unlikely to materially deteriorate or terminate, and (ii) the sales amount to the supplier-customer was immaterial during the Track Record Period, we believe that the supplier-customer overlap during the Track Record Period would not hinder our business prospects.
Business · 第 243 页