We generated a substantial portion of our revenue from sales of intelligent driving solutions and intelligent cockpit solutions, accounting for 100.0%, 100.0%, 98.4%, 100.0% and 97.6% of our total revenue in 2023, 2024 and 2025 and the six months ended June 30, 2025 and 2026, respectively.
Financial Information · 第 210 页
As a result, changes in our solutions and products mix and revenue mix may also affect our overall gross profit margin and subsequently other aspects of our business performance.
Our sole mining asset is the Dabaoshan Mine, a large-scale open-pit polymetallic mine located in Shaxi Town, Qujiang District, Shaoguan City, Guangdong Province, the PRC.
Summary · 第 1 页
During the Track Record Period, a substantial portion of our revenue was derived from the sale of copper concentrates, sulphur concentrates and magnetic sulphur concentrates.
Financial Information · 第 183 页
Our current designed mining capacity is 3.30 Mt/a. We plan to expand our total mining and processing capacity to 6.60 Mt/a.
During the Track Record Period, a large portion of our revenue was generated from our deployment of large-scale and C&I ESS solutions in single large project(s).
Business · 第 139 页
In the same periods, revenue contributed by the top five projects where we deployed our integrated ESS solutions was RMB58.5 million (representing the total two projects in 2023), RMB482.6 million (representing the total four projects in 2024), RMB1,609.8 million (representing the top five projects in 2025) and RMB213.9 million (representing the total five projects in the four months ended April 30, 2026), representing 13.5%, 42.2%, 86.2% and 76.4% of our total revenue for the same period, respectively.
Business · 第 139 页
Deployment of large-scale ESS solutions typically involves substantial investment size and equipment procurement value per project, resulting in significant revenue contribution from individual projects in a given period.
Our revenue generated from sales of harmonic reducers and other components amounted to RMB92.5 million, RMB103.4 million and RMB167.1 million, accounting for 97.8%, 96.0% and 64.1% of our total revenue in the same respective periods.
Business · 第 160 页
Our business expansion during the Track Record Period was primarily driven by the production and sales of our harmonic reducers, and joint modules and robotic arms.
Business · 第 160 页
Our joint modules and robotic arms, and automated workstations, which commenced revenue generation in 2023 and 2025, respectively, are at the relatively early stage of commercialization and are gradually contributing to our revenue growth.
江苏博迁新材料股份有限公司Jiangsu Boqian New Materials Stock Co., Ltd.
镍基及铜基产品贡献大部分收入
Our product portfolio primarily consists of (i) nickel-based products, (ii) copper-based products, (iii) silver powders, and (iv) alloy powders, with nickel-based products and copper-based products contributing a majority of our revenue.
Financial Information · 第 169 页
We believe our established technology platform, product quality, mass production capability and product portfolio covering high-end nickel powders, copper powders and silver-coated copper powders position us to capture growth opportunities arising from the continued development of consumer electronics, automotive electronics, industrial automation, AI, PV new energy, and semiconductor packaging industries.
During the Track Record Period, we primarily derived our revenue from the sale of signal chain ICs and power management ICs.
Financial Information · 第 177 页
Our product mix may fluctuate in response to the technological changes in the industries and markets to which our products are sold, and the changes in market demand.
Financial Information · 第 177 页
We have engineered the most comprehensive analog and sensor portfolio in China, according to Frost & Sullivan, with over 7,200 products across 38 categories, providing our customers with distinctive breadth and depth to address complex design challenges across industries.
During the Track Record Period, our revenue is primarily derived from the sales of AiTruck.
Business · 第 139 页
In particular, the decrease and subsequent increase in revenue from our logistics customers in 2024 and 2025, respectively, was mainly attributable to the changing contribution of our Trunk Pilot business, which recorded revenue of RMB42.1 million in 2024 and RMB215.2 million in 2025.
Business · 第 157 页
The increase and subsequent decrease in revenue from our hub operation customers in 2024 and 2025, respectively, primarily reflected the delivery and revenue recognition timing of major projects in our Trunk Port business, which recorded revenue of RMB181.9 million in 2024 and RMB127.5 million in 2025.
Substantially all of our revenue during the Track Record Period was derived from generic drug products, and there is no assurance that our strategic transition to innovative drug development will be successfully implemented.
Summary · 第 10 页
During the Track Record Period, the majority of our revenue was derived from eight major marketed products.
Financial Information · 第 238 页
At the same time, the steadily declining revenue contribution of oseltamivir phosphate reflects our reduced reliance on this mature-stage product and its diminishing impact on our overall financial performance going forward.
In 2023, 2024 and 2025, revenue from these products was RMB1,254.3 million, RMB1,392.0 million and RMB1,502.1 million, respectively, representing 99.9%, 99.4% and 99.2% of total revenue relating to pharmaceutical products.
Business · 第 109 页
As of the Latest Practicable Date, this portfolio included 11 commercialized products and 15 product candidates.
Our financial performance was materially affected by changes in our product mix during the Track Record Period.
Financial Information · 第 212 页
During the Track Record Period, the contribution of EV batteries and ESS batteries to our total revenue increased, while the contribution of automation equipment decreased.
Financial Information · 第 212 页
Revenue from ESS batteries increased from RMB92.3 million in 2023 to RMB258.4 million in 2024 and further to RMB592.1 million in 2025, respectively.
During the Track Record Period, substantially all of our revenue was generated from the sales of our NMPA-approved products, namely IColocomf (艾長康), IColohunter (艾長健), IEsohunter (艾思寧) and IHepcomf (艾馨甘).
Business · 第 159 页
Our revenue was primarily derived from limited sales of our NMPA-approved products during the Track Record Period.
Financial Information · 第 226 页
Consequently, the contribution of our new products to overall revenue remains modest to date.
英矽智能INSILICO MEDICINE InSilico Medicine Cayman TopCo03696.HK
收入集中于管线开发分部及三项对外授权
We operate under a project-based business model, deriving revenue primarily from out-licensing and collaboration arrangements, with no guarantee or clear visibility on future revenue generation.
Summary · 第 1 页
During the Track Record Period, revenue generated from our pipeline drug development business mainly included the revenue generated from the out-licensing of three of our drug candidates.
Business · 第 256 页
We actively pursued outlicensing arrangements for certain pipeline candidates, including those targeting TEAD and NLRP3, and negotiations are still ongoing.
For the years ended December 31, 2022, 2023 and 2024 and the six months ended June 30, 2025, sales of tea leaves accounted for 86.5%, 88.7%, 88.6% and 90.2%, respectively, of our total revenue.
Financial Information · 第 396 页
Our revenue and profitability are affected by the mix of the products we offer, in particular the mix of tea leaf products.
Financial Information · 第 397 页
By tea category, our revenue generated from sales of Oolong tea leaves contributed the highest portion of our revenue, and accounted for 31.8%, 30.0%, 29.9% and 28.7%, respectively, of our total revenue for the years ended December 31, 2022, 2023 and 2024 and the six months ended June 30, 2025.
During the Track Record Period, a significant portion of our revenue was generated from the sale of our ICV simulation testing software and platforms and ICV data platforms and other products, which were generally entered into on a project-by-project basis and non-recurring in nature.
Summary · 第 3 页
For example, during FY2021, a majority (approximately 96.1%) of our total revenue for FY2021 was derived from the sale of products (including approximately 56.9% from the sale of ICV simulation testing software and platforms and approximately 39.2% from the sale of ICV data platforms and other products), and only approximately 2.1% and 1.8% of our total revenue was derived from the provision of ICV testing and related services, and advisory and other services, respectively.
Business · 第 311 页
A majority of our revenue during the Track Record Period were generated from selling or building ICV simulation software and platforms and ICV data platforms and other products, which were generally one-off projects.
江苏国富氢能技术装备股份有限公司Jiangsu Guofu Hydrogen Energy Equipment Co., Ltd.02582.HK
车载高压供氢系统贡献大部分收入
For the years ended December 31, 2021, 2022 and 2023 and the five months ended May 31, 2023 and 2024, we generated a majority of our revenue from vehicle-mounted highpressure hydrogen supply systems and related products and equipment for hydrogen refueling stations and related products.
Summary · 第 8 页
For example, the gross profit margin of equipment for hydrogen liquefaction and the storage and transportation of liquid hydrogen was 26.6% in 2023, compared to the gross profit margins of 18.4% of vehicle-mounted high-pressure hydrogen supply systems and related products and 12.6% of equipment for hydrogen refueling stations and related products in the same year.
Financial Information · 第 413 页
Although we have realized large-scale commercialization of vehicle-mounted high-pressure hydrogen supply systems and equipment for hydrogen refueling stations, we are also expanding our presence horizontally from the refueling and use of hydrogen energy to the production, storage and transportation of hydrogen energy, where we have self-developed equipment for hydrogen liquefaction and the storage and transportation of liquid hydrogen and water electrolysis hydrogen production equipment and related products.
荣利营造控股有限公司Wing Lee Development Construction Holdings Limited09639.HK
三跑道项目贡献总收益最高约48.9%
contributed service revenue of approximately HK$254.6 million, HK$92.7 million and HK$241.2 million for FY2021/22, FY2022/23 and FY2023/24, respectively, representing approximately 96.8%, 80.9% and 80.0% of our service revenue from site formation works and approximately 48.9%, 25.7% and 45.9% of our total revenue for the corresponding financial years.
Summary · 第 2 页
Currently, our Third Runway Projects are expected to complete by mid-2025.
Summary · 第 2 页
Having considered the above, our Directors consider that the completion of the Third Runway Projects by mid-2025 will not have a material adverse impact on our Group’s business prospects.
In 2021, 2022 and 2023, our revenue from ride-hailing services accounted for 99.2%, 91.0% and 83.9% of our total revenue, respectively.
Summary · 第 1 页
During the Track Record Period, our mobility services contributed to the majority of our overall revenue, which accounted for 99.9%, 91.3% and 84.0% in 2021, 2022 and 2023, respectively.
We generated over 90.0% of our revenue from our advertising services provided under the online reading platform services and digital marketing services in each year of the Track Record Period.
Summary · 第 1 页
We have achieved diversified commercialization, which primarily includes subscription, pay per use, advertising income and revenue sharing, among others.
During the Track Record Period, our sales of education and logistics smart robotic products and services were the major contribution to our revenue, accounting for 84.4%, 79.8%, 77.3% and 58.4% of our total revenue for FY2020, FY2021, FY2022 and 6M2023, respectively.
Summary · 第 7 页
Although we expect the revenue contribution of our Walker series to increase, in the short term, the contribution of education and logistics smart robotic products and services may continue to be significant.
Summary · 第 7 页
Since most of our revenue was generated from the education and logistics industries, our result of operation is highly dependent on the changes in the education and logistics industries.
In 2021, 2022 and the six months ended June 30, 2023, our revenue generated from the sales of SuperVision^™^amounted to RMB86.0 million, RMB1,248.8 million and RMB510.2 million, respectively, accounting for 48.3%, 94.2% and 93.9% of our total revenue during the same periods, respectively, which were primarily generated from the sales of SuperVision™to Geely Group.
Summary · 第 1 页
The AD domain controller solution we provided for ZEEKR contributed to nil, 48.2%, 93.6% and 93.5% of our total revenue for the three years ended December 31, 2022, and six months ended June 30, 2023, respectively.
Summary · 第 3 页
As we were the sole autonomous driving solution supplier of ZEEKR 001 and ZEEKR 009 for their AD domain controller during the Track Record Period and up to the Latest Practicable Date, and such arrangement is expected to remain the same thereafter, with the continuous growth in sales volume of ZEEKR 001 and the commencement of series production of ZEEKR 009, the potential demand for our autonomous driving solutions and products will continue growing, which in turn will generate sustainable revenue for us in the near future.