One of our five largest customers in each of 2022, 2023 and 2024 and the six months ended June 30, 2025, Customer A, was also our supplier (Supplier E) in the same respective years/periods.
Business · 第 259 页
In each of 2022, 2023 and 2024 and the six months ended June 30, 2025, (i) our purchases of their services from this supplier-customer amounted to RMB15.6 million, RMB25.4 million, RMB32.7 million and RMB27.1 million, respectively, accounting for 4.0%, 4.2%, 3.6% and 5.5% of our total purchase in the same years/periods, and (ii) our sales to this supplier-customer amounted to RMB58.3 million, RMB97.7 million, RMB161.5 million and RMB111.9 million, respectively, accounting for 11.5%, 11.5%, 12.9% and 15.4% of our total revenue in the same years/periods.
Business · 第 259 页
Our sales and purchases with this supplier-customer were not inter-conditional with each other.
健康160国际有限公司160 Health International Limited02656.HK
往绩记录期间存在既是客户又是供应商的重叠对手
During each year/period of the Track Record Period, we had overlapping customer-suppliers, with two of our five largest customers also serving as our supplier, and four of our five largest suppliers also being our customer, among which two were featured as both our five largest customers and suppliers at various times within this period (collectively, as the “overlapping customer-suppliers”).
Business · 第 350 页
our Directors are of the view that the revenue contribution by and/or purchases from overlapping customers-suppliers during the Track Record Period are reasonable and in line with industry practice.
Business · 第 352 页
Our sales to and purchases from these overlapping customer-suppliers were not interrelated or conditional upon each other.
In 2022, one of our five largest customers, Customer B, was also one of our suppliers.
Business · 第 186 页
One of our five largest suppliers in 2022, Supplier D, was also our customer.
Business · 第 186 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.
广州银诺医药集团股份有限公司Guangzhou Innogen Pharmaceutical Group Co., Ltd.02591.HK
CDMO既为最大供应商亦为设备买方
Our current prepayments, other receivables and other assets increased to RMB47.1 million as of May 31, 2025, mainly due to an increase in other receivable from our CDMO of RMB18.7 million in relation to a piece of equipment we sold to our CDMO.
Financial Information · 第 408 页
Our non-current prepayments, other receivables and other assets decreased to RMB24.6 million as of May 31, 2025, mainly due to a decrease in prepayment for long-term assets because we sold a piece of equipment to our CDMO.
Financial Information · 第 408 页
Purchases attributable to our single largest supplier amounted to RMB62.8 million, RMB50.4 million and RMB59.6 million for the same year/period, accounting for 43.9%, 48.3% and 48.7% of our total purchases, respectively.
北京讯众通信技术股份有限公司Beijing Xunzhong Communication Technology Co., Ltd.02597.HK
客户E与供应商I（客户G）互为客户兼供应商
During the Track Record Period, Customer E was one of our suppliers, while Supplier I and Supplier F were also our customers, with Supplier I being one of our major customers, Customer G.
Business · 第 222 页
During the Track Record Period, we procure from 13 of its group entities, while most of our revenue contribution from Customer E during the Track Record Period were generated from sales to three different group entities that did not supply to us during the Track Record Period.
Business · 第 223 页
During the Track Record Period, we mostly procure from one of its group entities, while our revenue contribution from Supplier I (Customer G) during the Track Record Period were generated from sales to a different group entity.
Customer/Supplier A, our top customer in each of 2022, 2023 and 2024, was also one of our five largest suppliers in the same years.
Business · 第 177 页
In 2024, our sales to Supplier B amounted to RMB830.8 million, accounting for 1.2% of our total revenue in the same year.
Business · 第 177 页
According to Frost & Sullivan, it is in line with industry practice for a company to have both sales to and purchases from the same customer/supplier, and the adoption of the buy-and-sell model is not a definitive determinant of pricing within the precision manufacturing industry.
All of our five largest suppliers in each year during the Track Record Period were our customers.
Business · 第 217 页
During the Track Record Period, Customer B, Customer C, Customer E and Customer F were also our suppliers.
Business · 第 224 页
In 2022, 2023 and 2024, our procurement from each of Customers B, C, E and F accounted for less than 1% of our total purchases for the same year, respectively.
In 2022, 2023 and 2024, we procured advertising inventory from Supplier G as supplement to our own advertising inventory on Chelaile to better meet the needs of our brand advertisers.
Business · 第 229 页
During the Track Record Period, Entity A, our second largest supplier in 2022 and fifth largest supplier in 2023, a leading information and telecommunication solution provider in China, was also our five largest customer in 2024.
Business · 第 229 页
Our Directors confirm that all transactions with our overlapping customer and supplier were conducted in the ordinary course of business and were based on normal commercial terms and at arm’s length, and the sales to and purchases from this entity were neither interconnected nor conditional upon each other.
容大合众(厦门)科技集团股份公司Rongta Technology (Xiamen) Group Co., Ltd.09881.HK
两家主要供应商同时亦为客户
During the Track Record Period, two of our major suppliers were also our customers as we sold unused raw materials to them.
Business · 第 250 页
According to Frost & Sullivan, and as concurred by our Directors, it is not uncommon for companies in the AIDC device industry to sell unused raw materials to overlapping customers and suppliers because it (i) promotes effective inventory management, reduces costs associated with excess inventory or unused materials and freeing up warehouse space; (ii) strengthens relationships with existing customers and suppliers, fostering collaboration within the supply chain; and (iii) aligns with sustainability efforts and ESG practice by promoting the reuse of materials.
Customer A, a Singapore-based institution primarily engaged in research and development that advances scientific discovery and technological innovation, was also our supplier.
Business · 第 422 页
Hangzhou Mian, a customer and one of the Historical Consolidated Affiliated Entities, was also our supplier.
Business · 第 422 页
To the best of our Directors’ knowledge, the above-mentioned transactions were neither dependent nor conditioned upon each other and there were no other overlap between our major suppliers and our customers and vice versa.
In order to secure the supply of direct materials, we sell certain of the above-mentioned upstream materials to some of our direct material suppliers, who then sell back to us after they have processed them into direct materials such as cathode materials.
Business · 第 209 页
In 2022, 2023 and 2024, the revenue generated from Supplier A accounted for 2.0%, 1.6% and 1.3% of our total revenue, respectively; and the revenue generated from Supplier C accounted for 1.4%, 0.7% and 2.0% of our total revenue, respectively.
Business · 第 209 页
During the Track Record Period, among the five largest customers in each year, Customer B, Customer C, and Customer G were also our suppliers.
海南钧达新能源科技股份有限公司Hainan Drinda New Energy Technology Co., Ltd.02865.HK
晶科、隆基、中环同为客户及前五大供应商
In 2022 and 2023, our purchase amount attributable to Jinko amounted to RMB2,006.1 million and RMB2,555.9 million, which accounted for 17.0% and 10.2% of our purchases, respectively, and our sales amount attributable to Jinko amounted to RMB3,336.7 million and RMB5,172.3 million, which accounted for 30.1% and 27.8% of our sales amount, respectively, making Jinko our largest supplier and customer of the continuing operation in 2022 and 2023 due to Jinko's position as one of the largest manufacturers of both silicon wafers and PV modules in the world and established business relationship with us.
Business · 第 285 页
In addition, from a business perspective, the transactions that we entered into with the overlapping supplier-customers were on an arm's-length, mutually independent basis under normal commercial terms.
Business · 第 286 页
The gross profit margins for LONGi and Jinko are generally consistent with that of the other top five customers collectively.
江苏正力新能电池技术股份有限公司Jiangsu Zenergy Battery Technologies Group Co., Ltd.03677.HK
TWS既是客户亦为电池模组代工供应商
During the Track Record Period, to the best knowledge and belief of our Directors, we had one supplier who is also our major customer.
Business · 第 319 页
TWS Technology (Guangzhou) Ltd (“TWS”) is our supplier for the OEM of battery modules and also one of our major customers.
Business · 第 320 页
In each year of 2021, 2022, 2023 and 2024, revenue from TWS accounted for 2.4%, 7.8%, 1.4% and nil of our total revenue, purchases from TWS accounted for 1.3%, 0.4%, nil and nil of our total purchases.
During the Track Record Period, we sold unused ingredients and raw materials (mainly including fresh fruit, canned fruit, and fruit juice) to certain suppliers while we purchased ingredients and raw materials (mainly including topping ingredients, syrups, and milk tea ingredients) from such suppliers as well, which is a customary practice in the industry, according to CIC.
Business · 第 203 页
All of our sales to and purchases from Supplier H were conducted in the ordinary course of business under normal commercial terms and on an arm’s length basis.
上海汇舸环保科技集团股份有限公司CONTIOCEAN ENVIRONMENT TECH GROUP CO., LTD.02613.HK
主要客户与供应商重叠
During the Track Record Period, Customer I was one of our major customers and a supplier, and Shanghai Hangxu and Supplier E were our major suppliers and customers.
Business · 第 266 页
Our Directors confirmed that all of our sales to and purchases from Customer I and Shanghai Hangxu were not inter-conditional, inter-related or otherwise considered as one transaction.
Customer J was, together with one of its subsidiaries, our customer for our ICV simulation testing software and platforms and our ICV testing and related services for FY2022, and our ICV testing and related services for FY2023, in aggregate contributing revenue of approximately RMB10.7 million and RMB11.9 million for FY2022 and FY2023, respectively.
Business · 第 255 页
Our Directors confirm that our transactions with Customer J were on normal commercial terms considering contract terms of other transactions of our Group of similar nature and there were no pre-conditions on the aforesaid purchases by Customer J from us.
脑动极光医疗科技有限公司BrainAurora Medical Technology Limited06681.HK
两家医院客户Customer B及F同为供应商
Due to the nature of our business, two of our hospital customers, Customer B and Customer F, were also our suppliers during the Track Record Period.
Business · 第 344 页
For Customer B, we provided the System integral software solutions in hospitals in 2021, 2022, 2023, and the six months ended June 30, 2024 and provided research projects service in 2023, and generated revenue of RMB0.8 million, RMB2.2 million, RMB11.0 million, and RMB5.7 million, respectively.
Business · 第 344 页
For Customer F, we provided research projects service in 2022, 2023 and the six months ended June 30, 2024, and generated revenue of RMB0.3 million, RMB 6.8 million and RMB5.8 million, respectively.
During the Track Record Period, iFlytek Group was one of our top five customers as well as one of our top five suppliers.
Business · 第 289 页
During the Track Record Period, one of our top five customers in 2021, Customer B, was also one of our suppliers and among our top five suppliers in 2022.
Business · 第 289 页
During the Track Record Period, one of our top five customers in 2021, Customer O, was also one of our suppliers and among our top five suppliers in the six months ended June 30, 2024.
Fujian Kangcheng became one of our five largest customers in 2023, primarily because, as the national agent for multiple drugs, it collaborates with pharmaceutical manufacturers in collecting real-word data and generating study reports for post-market drugs in order to help these pharmaceutical manufacturers assess the effectiveness and safety of the drugs, and therefore, it has a large demand for RWS support services.
Business · 第 306 页
The negotiation of the terms of arrangements with Fujian Kangcheng were conducted separately, and the sales and purchases were neither inter-connected nor inter-conditional with each other.
Business · 第 307 页
In 2023, the revenue generated from Fujian Kangcheng represented 7.7% of our total revenue, and the procurement amount attributable to Fujian Kangcheng represented approximately 4.1% of our total purchases in the same year.
In 2021, one of our top five customers was also our supplier for textbooks and curriculum for STEAM education sold together with our Magician Series cobots.
Business · 第 234 页
Negotiations of the terms of our sales to and purchases from this overlapping customer/supplier were conducted on an individual basis and the sales and purchases were neither inter-connected nor inter-conditional with each other.
Business · 第 234 页
In 2023, two of our top five suppliers for reducers or auxiliary equipment were also our customers for cobot products for their production lines.