For most of our procurement agreements, unless we provide written consent, prices will not be increased for any reason, and our suppliers assume the risk of raw material price fluctuations.
Business · 第 158 页
For certain components that are primarily made from bulk commodities such as steel, we have established a price adjustment mechanism with our suppliers.
Business · 第 158 页
However, as our customer contracts are fixed-price agreements, periods of high volatility in raw material markets may expose us to the risk of actual costs exceeding initial projections, thereby compressing our profit margins.
We monitor and manage raw material price fluctuations by establishing strategic relationships with key suppliers, analyzing market conditions, and implementing timely price adjustments.
Zinc, lead and copper are major global and domestic commodities whose prices are influenced by a variety of complex factors.
Financial Information · 第 293 页
It is important for us to understand these market dynamics, and we have established a comprehensive price monitoring and analysis system to obtain timely market information and adjust concentrate production and sales strategies accordingly.
Financial Information · 第 293 页
The fluctuation in selling price of our concentrates is generally consistent with the fluctuation in overall industry average selling price during the Track Record Period.
In 2022, 2023, 2024 and for the six months ended June 30, 2024 and 2025, our cost of raw materials and consumables used amounted to RMB160.1 million, RMB290.3 million, RMB395.7 million, RMB187.3 million and RMB220.9 million, respectively, representing 38.3%, 36.3%, 34.3%, 35.6% and 31.4% of our revenue for the same periods.
Financial Information · 第 310 页
The table below sets forth the sensitivity analysis of the impact on our results of operations during the Track Record Period from the fluctuations of the raw materials and consumables used.
Our results of operations are sensitive to fluctuations in the prices of electrolytic aluminum and alumina.
Financial Information · 第 335 页
Our profit for the period decreased by 14.4%, from RMB999.4 million in the five months ended May 31, 2024 to RMB855.5 million in the same period of 2025 due to a decrease in gross profit as a result of the increase in market prices of certain key raw materials.
Summary · 第 15 页
Our profit for the year increased by 18.4% from RMB912.9 million in 2022 to RMB1,080.6 million in 2023, mainly attributable to an increase in the gross profit due to a decrease in the market prices of certain key raw materials.
中伟新材料股份有限公司CNGR Advanced Material Co., Ltd.02579.HK
镍钴价格波动主导收入及毛利
As a result, the average selling price of our nickel-based materials and cobalt-based materials decreased from RMB123,100 per metric ton in 2022 to RMB82,900 per metric ton in 2024, and RMB327,900 per metric ton in 2022 to RMB106,600 per metric ton, which was in line with the downward trend of the prevailing market price during the same period.
Financial Information · 第 286 页
As a result of the pricing mechanism discussed above, the fluctuation in prices of raw materials could be effectively reflected on the selling prices of our products and the raw material costs we procured.
Financial Information · 第 286 页
As of December 31, 2022, 2023 and 2024 and June 30, 2025, the contractual value of our then effective hedging instruments amounted to RMB3,507.3 million, RMB6,379.6 million, RMB10,642.6 million and RMB14,341.0 million.
金叶国际集团有限公司GOLDEN LEAF INTERNATIONAL GROUP LIMITED08549.HK
材料成本及分包费敏感度分析
For illustrative purpose only, the following sensitivity analysis illustrates the impact of hypothetical fluctuations of the subcontracting fees on our profit before income tax, assuming other variables remain unchanged for the dates indicated. Fluctuations in our subcontracting fees are assumed to be 10% and 20%.
Financial Information · 第 250 页
For illustrative purpose only, the following sensitivity analysis illustrates the impact of hypothetical fluctuations of our cost of materials on our profit before income tax assuming all other variables remain unchanged for the dates indicated. Fluctuations in our cost of materials are assumed to be 5% and 10% with reference to the average of CAGR for the price of air conditioners (being the major components of our cost of materials) in Hong Kong from 2020 to
Financial Information · 第 250 页
2024 and from 2025 to 2029 as stated in the paragraph headed “Industry Overview — Cost analysis” in this prospectus, and is therefore considered reasonable for the purpose of this sensitivity analysis.
佳鑫国际资源投资有限公司Jiaxin International Resources Investment Limited03858.HK
业绩受钨价波动影响并作敏感性及盈亏平衡分析
For example, the changes in commodity price (i.e., tungsten price) are expected to have a significant impact on our operating results because the operating cost of a mine is relatively stable for a certain period of time after the mine is put into production.
Business · 第 273 页
The tungsten concentrate price has been increasing substantially recently, which may enhance our operation prospects if such trend continues.
Business · 第 273 页
In addition, according to the Independent Technical Report, a breakeven analysis shows that the post-tax NPV at a discount rate of 10% will become zero when the average tungsten concentrate price is approximately RMB64,000/t, and the payback period, which is the amount of time required to recoup the initial capital cost, is approximately 3.1 years.
For the years ended December 31, 2022, 2023 and 2024, cost of pharmaceuticals represented the largest component of our cost of sales, accounting for 37.3%, 34.7% and 39.1%, respectively, of our revenue for the same years, respectively.
Financial Information · 第 502 页
We expect that our cost of pharmaceuticals as well as staff cost to continue to be our most significant costs and expenses going forward, particularly in light of the continued expansion and ramping up of certain of our self-owned hospitals.
Financial Information · 第 503 页
in terms of medical consumables, we have also conducted centralized procurement through (i) collecting the medical consumables demands of our In-network Hospitals first and obtaining lower unit prices subsequently in the negotiation with the corresponding suppliers of such medical consumables when our total quantities are large enough, benefiting from economies of scale
小菜园国际控股有限公司XIAOCAIYUAN INTERNATIONAL HOLDING LTD.00999.HK
食材价格影响盈利并作敏感性分析
Food ingredient prices have a direct impact on our raw materials and consumables used, which in turn affects our profitability.
Financial Information · 第 261 页
The table below sets forth the sensitivity analysis of the impact on our results of operations during the Track Record Period arising from fluctuations in the price of raw materials and consumables used.
Business · 第 195 页
As a result, we plan to continue our price management efforts to control food ingredient procurement costs for our restaurants through the enhancement of our key strategies such as (i) adopting a multi-supplier approach to remain nimble, (ii) negotiating long-term contracts with suppliers, (iii) leveraging our economies of scale and centralized procurement arrangements to strengthen our bargaining power over suppliers, (iv) using data analysis to monitor price fluctuations in public markets and
荣利营造控股有限公司Wing Lee Development Construction Holdings Limited09639.HK
材料及分包成本波动为业绩敏感因素
For illustrative purpose only, the following sensitivity analysis illustrates the impact of hypothetical fluctuations of our cost of materials on our profit before income tax assuming all other variables remain unchanged for the dates indicated.
Financial Information · 第 314 页
For illustrative purpose only, the following sensitivity analysis illustrates the impact of hypothetical fluctuations of the subcontracting fees on our profit before income tax assuming other variables remain unchanged for the dates indicated.
Financial Information · 第 313 页
For illustrative purpose only, the following sensitivity analysis illustrates the impact of hypothetical fluctuations of the employee expenses on our profit before income tax assuming other variables remain unchanged for the dates indicated.
中赣通信(集团)控股有限公司Zhonggan Communication (Group) Holdings Limited02545.HK
劳务采购成本波动及敏感性分析
The Group’s labour procurement costs represented the largest component of the its cost of sales for the years ended 31 December 2021, 2022 and 2023 accounting for approximately 78.4%, 91.5% and 89.5% respectively.
Financial Information · 第 319 页
Accordingly, fluctuations in the Group’s labour procurement costs directly impact the Group’s operational and financial results.
Financial Information · 第 319 页
The following sensitivity analysis illustrates the impact of hypothetical fluctuations in the Group’s labour procurement costs on its profit before tax during the Track Record Period, assuming all other variables, including the Group’s revenue remains constant.
Gold is our primary raw material used in the production of our products, accounting for 94.4%, 93.6% and 92.5% of our raw material costs in 2021, 2022 and 2023, respectively.
Financial Information · 第 292 页
The following table demonstrates the sensitivity to a reasonably possible change in the gold price, with all other variables held constant, of our profit before tax during the Track Record Period:
Financial Information · 第 293 页
We are susceptible to the fluctuation in gold prices, as we do not have any hedging instruments to manage such fluctuation.
For the years ended 31 December 2020, 2021 and 2022 and the nine months ended 30 September 2023, traffic acquisition costs represented the largest component of our total cost of services, which accounted for approximately 97.0%, 96.7%, 96.9% and 97.6%, respectively, of our cost of services for the corresponding year/period.
Financial Information · 第 253 页
We expect that the traffic acquisition costs will continue to be our most significant costs of service going forward, particularly in light of the continued expansion of our mobile advertising services.
Financial Information · 第 253 页
Under the bidding process, when there is any increase in the price of advertising space, such increase will generally be passed on to our customers in full.
Our cost of raw materials and consumable goods used, mainly included compliers, PCB boards, electronic parts, plastic parts and electromechanical parts, represented the largest portion of our cost of sales, accounted for 53.1%, 62.6%, 64.2%, 54.6% and 61.0% of our total cost of sales for FY2020, FY2021, FY2022, 6M2022 and 6M2023, respectively.
Financial Information · 第 438 页
We are subject to the risks of fluctuations in the price of these materials.
Financial Information · 第 438 页
maintain a register of alternative suppliers of raw materials and consumable goods which is updated on a regular basis in order to ensure that the cost of raw materials and consumables used in our production processes are in line with the latest market trends, minimize our production costs and safeguard against unexpected price and supply fluctuations.
Historically, when coking coal price increases, the prices of our products usually increase. For example, the prices of our hydrogenated benzene-based chemicals increased from 2020 to 2022 when coking coal price increased; and the prices of our hydrogenated benzene-based chemicals decreased in 1H2023 when coking coal price decreased.
Financial Information · 第 338 页
For illustration purpose, we set out below a sensitivity analysis of our gross profit margin with reference to the fluctuation on the average raw material cost per unit during the Track Record Period.
Financial Information · 第 339 页
Given that (i) we closely monitor the size of orders placed by our customers, typically on a monthly or weekly basis, to plan our production; (ii) our production cycle is relatively short thus reducing our exposure to market price fluctuations; and (iii) we endeavour to maintain our inventory at a reasonable level to sustain our production without interruption as well as to avoid inventory risk, we did not enter into any hedging arrangement to hedge our exposure to changes in the prices of raw materials and products during the Track Record Period.
泛远国际控股集团有限公司FAR International Holdings Group Company Limited02516.HK
物流成本占销售成本逾九成且议价力有限
We have limited bargaining power with our upstream suppliers, who have a wider international delivery network and fleets of ground transportation and aircraft, in negotiating increases in transportation costs, as well as seasonal surcharges and fuel surcharges.
Business · 第 264 页
We are exposed to the market risk of fluctuation of rates of our suppliers, and fluctuation in rates may cause fluctuation in our cost of sales. Any increase in our logistics costs would negatively impact our gross profit margin if we are unable to transfer the increased cost resulting from such increase through increasing our service fees.
Financial Information · 第 346 页
For illustrative purpose only, the following sensitivity analysis illustrates the impact of hypothetical fluctuations of each of our Group’s logistics costs, sales volume and average selling price in each sub-segment under our end-to-end cross border delivery services segment (while other factors being constant) on our profit before tax during the Track Record Period.
Since we cannot automatically nor necessarily proportionally transfer any increased heat procurement cost in its entirety to our heat service customers, if heat procurement price increases significantly, our profitability is likely to be affected.
Financial Information · 第 459 页
Since we may not necessarily be able to transfer all of the increased coal procurement cost to our heat service customers, if coal price increases, our profitability may be affected.
怡俊集团控股有限公司Easy Smart Group Holdings Limited02442.HK
材料成本敏感性分析及成本转嫁
The following sensitivity analysis illustrates the impact of hypothetical fluctuations of subcontracting fees and direct labour costs, and costs of materials (being the major components of our costs of services) on our profit before tax during the Track Record Period.
Financial Information · 第 262 页
Given that our executive Directors consider various factors, including but not limited to the future price trends of materials and services when estimating costs and preparing our tender proposals, our executive Directors believe we can generally pass on increases in costs to our customers.
Moreover, the rebate rates granted by media publishers (or their resellers or agents) will affect our Net Rebate Rates, which may affect our results of operations of standardized digital marketing business.
Financial Information · 第 292 页
For the years ended December 31, 2019, 2020 and 2021 and the nine months ended September 30, 2021 and 2022, our Net Rebate Rate, being the difference between our Average Rebate Rate and Average Incentive Rate for the relevant year or period, was 1.5%, 1.4%, 1.2%, 1.2% and 1.6%, respectively.
Business · 第 179 页
Our Average Rebate Rate remained relatively stable during the Track Record Period.