北京⾼能时代环境技术股份有限公司Beijing GeoEnviron Engineering & Technology, Inc.
单一最大股东持有客户I约20.2%权益
As of the Latest Practicable Date, Mr. Li, chairman of the Board, our executive Director and our single largest Shareholder, held approximately 20.2% interest in Customer I.
Business · 第 155 页
Customer I was one of our top five customers in 2023 and 2024. Meanwhile, Customer I was also our supplier throughout the Track Record Period.
(2) 15.12% of equity interests in Supplier E is held by NavInfo (Hongkong) Co., Limited, a member of the SeeWay.ai Group.
Business · 第 149 页
To the best of our knowledge, save for SeeWay.ai, our non-executive Director and chairman of the Board of our Company, Mr. Cheng Peng, our non-executive Directors, Mr. Jiang Sheng and Mr. Huang Weiguo, our executive Director, Mr. Wang Jianqin, none of our Directors, their respective close associates or any Shareholder who owned more than 5% of our issued share capital as of the Latest Practicable Date, had any interest in any of our five largest suppliers during the Track Record Period.
To the best of our knowledge, SAIC owns 50% of equity interest in Customer B. Customer B is an equity investee and not a subsidiary of SAIC.
Business · 第 169 页
Customer B is a company primarily engaging in manufacturing automotive vehicles, incorporated in 1985, headquartered in Shanghai, China, which is a Sino-German joint venture enterprise.
浙江凯乐士科技集团股份有限公司Zhejiang Galaxis Technology Group Co., Ltd.02729.HK
董事方于前五大客户Customer G中持有权益
Our Directors confirm that, save for Customer G, none of our Directors, their respective associates or, to the best of their knowledge, any Shareholder holding more than 5% of our issued share capital, held any interest in any of our top five customers in each year/period during the Track Record Period.
Business · 第 166 页
During the same years/period, our sales to such customer amounted to RMB80.0 million, RMB73.2 million, RMB1.4 million and RMB0.4 million, respectively, accounting for 12.2%, 13.3%, 0.2% and 0.1%, respectively, of our total revenue, and our purchases from such customer amounted to nil, nil, RMB8.5 million and nil, respectively, accounting for nil, nil, 1.7% and nil of our total purchases, respectively.
MIVICE is controlled by Mr. Chongquan Luo, a former director of Shenzhen Shifang who resigned from his directorship with effect from August 26, 2025.
Business · 第 121 页
In 2023, 2024 and the nine months ended September 30, 2025, our purchase from Leonis Group amounted to €37.0 million, €24.7 million and €1.0 million, respectively, accounted for 65.5%, 41.1% and 3.4% of our total purchase amount for the respective periods.
Business · 第 121 页
The pricing terms for our purchases from Leonis and MIVICE are determined through arm’s length negotiations with reference to market prices for comparable products offered by independent third-party suppliers.
Save for Supplier A, to the Company’s best knowledge, none of our Directors, their close associates or any of our Shareholders (who or which to the knowledge of the Directors owned more than 5% of our issued share capital) as of the Latest Practicable Date had any interest in any of our five largest suppliers of each year/period of the Track Record Period.
Business · 第 209 页
(1) Supplier A is a public company and a global designer and manufacturer of semiconductor products.
As of the Latest Practicable Date, except for our largest customer in 2024, which is our Directors, none of our Directors, their associates or any of our shareholders (who owned or to the knowledge of Directors had owned more than 5% of our issued share capital) had any interest in any of our five largest customers in each year/period during the Track Record Period.
Business · 第 210 页
In 2022, 2023, 2024 and the nine months ended September 30, 2025, the revenue contributed by these Non-independent Franchised Stores accounted for nil, 0.5%, 0.9% and nil of our total revenue for the respective years.
Business · 第 198 页
We sell products to the Non-independent Franchisees at the same prices that we apply to our independent franchisees.
As of the Latest Practicable Date, Supplier C was held as to 21.67% by Hefei Qinghui Jidian Enterprise Management Partnership (Limited Partnership) (合肥清輝集電企業管理合夥企業(有限合夥), “Qinghui Jidian”).
Business · 第 220 页
Mr. Hu Hong, an Executive Director and the deputy general manager of the Company, held 7.48% interests in Suzhou Jingpu as limited partners.
Business · 第 221 页
Mr. Zhu Yiming is currently the chairman of the board of directors (the “CXMT Board”) and chairman of the executive committee of CXMT, with such positions approved by the Board and the Shareholders.
During the Track Record Period and up to June 2024, Datuk Tan, our Controlling Shareholder and executive Director, alone and/or together with his associates held in aggregate 35% equity interest in Bridgex.
Summary · 第 5 页
Since June 2024, Datuk Tan and his associates no longer hold any shares in Bridgex and Bridgex is an Independent Third Party as at the Latest Practicable Date.
Summary · 第 5 页
During the Track Record Period, Bridgex was held as to 35% by Datuk Tan from January 2023 to February 2024, and as to 5% and 30% by Datuk Tan and Mr. Andy Tan, respectively, from February 2024 until June 2024 when they disposed of all their shares in Bridgex.
As of the Latest Practicable Date, all of our five largest suppliers in each period during the Track Record Period were independent third parties, except that Supplier J comprises five subsidiaries of Alisoft China Holding Limited, which is a substantial shareholder of our company.
Business · 第 297 页
1 Supplier J Cloud service An international cloud service provider with subsidiaries both in China and Singapore, providing cloud service to global enterprises and developers.
During the Track Record Period, we sold GPGPU products to Customer M, amounting to RMB33.9 million in aggregate, representing 2.5% of our total sales for the same period.
Business · 第 210 页
All such transactions were conducted in the ordinary course of business under normal commercial terms and on an arm’s-length basis.
To the best knowledge of our Directors, six out of the 11 limited partners of Zhangchuang Gongying Platform, who in aggregate hold approximately 10% of registered capital of Zhangchuang Gongying Platform, are interested in each of our major customers respectively.
Summary · 第 10 页
Save for the aforesaid, none of our Directors, their close associates or our Shareholders who hold more than 5% of our issued share capital had any interest in our five largest customers in each year/period during the Track Record Period.
In addition, Mr. Li Yan, our executive Director and the chief strategic officer, holds 99.7% of interest in Beijing Fengsheng Capital Management Co., Ltd.
Business · 第 216 页
As confirmed by Beijing Fengsheng and Mr. Li Yan, it was not involved in the management of, or otherwise control any director/board of directors or any of the other shareholders of Weidaoyun.
Business · 第 217 页
Save for the aforementioned, during the Track Record Period, none of our Directors, their close associates or any shareholders of our Company (who or which to the knowledge of the Directors owned more than 5% of our Company’s issued share capital) had any interest in any of our top five suppliers for each year during the Track Record Period.
As of the Latest Practicable Date, save for Customer K where Dr. Peng has also served as non-executive director, none of our Directors, their close associates or any of our Shareholders (who or which to the knowledge of the Directors owned more than 5% of our issued share capital) had any interest in any of our five largest customers in each year/period during the Track Record Period.
Summary · 第 13 页
In addition, during the Track Record Period and up to the Latest Practicable Date, we held minority interests of approximately 5% in OnTime Mobility and less than 5% in Customer K, both of which were our customers.
Summary · 第 13 页
During the Track Record Period, US$4.8 million, US$7.6 million, US$3.0 million and US$1.2 million of revenue was recognized from our collaborations with OnTime Mobility in 2022, 2023 and 2024 and six months ended June 30, 2025, respectively.
Topharman Shanghai and Shandong Topharman are controlled by our founder Dr. Shen, who is a researcher, group leader, and doctoral supervisor at Shanghai Institute of Materia Medica, CAS.
Business · 第 344 页
To the best of knowledge of our Directors, except for Shandong Topharman, all of our five largest suppliers in each year/period during the Track Record Period are Independent Third Parties.
Business · 第 391 页
We confirm that the payment terms of the TPN171 Agreements were determined through arm's length negotiations, taking into account the varying contributions of the TPN171 Assignors.
Guangzhou Yuji Technology Co., Ltd. (廣州禹跡科技有限公司) is a majority-controlled company of Mr. Ming Han (韓明), a sibling of Dr. Han, which is also beneficially owned by other shareholders that are unrelated to our Group or Dr. Han.
Business · 第 335 页
Supplier A is a substantial shareholder of a member of our Group.
金叶国际集团有限公司GOLDEN LEAF INTERNATIONAL GROUP LIMITED08549.HK
前股东全资拥有的World Expo作为客户
During the Track Record Period, World Expo Engineering Services Company Limited (“World Expo”) subcontracted certain works of MVAC systems to us as subcontractor, mainly at a commercial property in Wong Chuk Hang.
Business · 第 180 页
Our Directors confirm that (i) save for the former shareholder relationship with Mr. Yau and his role as a former director of Golden Leaf HK as disclosed above, each of Mr. Yau and World Expo is an independent third party and is not a connected person of our Company, its subsidiaries, shareholders, Directors, senior management and their respective associates; (ii) each of Mr. Yau and World Expo has not received any funding or financial assistance from our Company, its subsidiaries, shareholders, Directors, senior management and their respective associates; and (iii) the terms of the subcontracts between our Group and World Expo during the Track Record Period were at arm’s length.
佳鑫国际资源投资有限公司Jiaxin International Resources Investment Limited03858.HK
前五大供应商中含关连方CCECC及江西铜业
Save for CCECC and Jiangxi Copper Corporation, all of our five largest suppliers in each year or period during the Track Record Period were Independent Third Parties.
Summary · 第 20 页
Save for CCECC and Jiangxi Copper Corporation, none of our Directors or their associates, and none of our existing Shareholders who (to the knowledge of our Directors) own more than five percent of our issued share capital, had any interest in any of our five largest suppliers in each year or period during the Track Record Period.
(1) To the best of our knowledge, one of our shareholders who owned more than 5% of our issued share capital had less than 10% equity interests in each of Customers 2 and 9.
Business · 第 218 页
To the best of our knowledge, as of the Latest Practicable Date, except as disclosed above, none of our Directors, their respective close associates or any of our shareholders (who owned or to the knowledge of Directors had owned more than 5% of our issued share capital) had any interest in any of our five largest customers.