港股IPO招股书披露先例 · 49 家公司，49 项
与股东关联方购销，指公司与董事或控股股东所控制的关联实体进行产品或服务的销售、采购，并形成往来结余，该等交易常于上市后持续。招股书通常在概要、风险因素、业务及财务资料等章节披露交易性质、金额、定价安排及贸易或非贸易余额；申请人一般说明交易按公平原则及正常商业条款进行、不会扭曲往绩业绩，并以结清非贸易结余、终止相关交易或解除担保等方式处理遗留事项。
公司的解释、律师意见及原文页码定位：在 Matters 中查看We have entered into certain transaction with our Controlling Shareholders' associate that will constitute our continuing connected transaction upon [REDACTED].
Summary · 第 14 页
We enter into transactions with our related parties from time to time. The balances with related parties are trade in nature.
Financial Information · 第 248 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors are of the view that each of the material related party transactions set out in Note 35 to the Accountants’ Report included in Appendix IA to this Document was conducted in the ordinary course of business on an arm’s length basis and with normal commercial terms between the relevant parties.
Financial Information · 第 248 页
During the Track Record Period, we primarily conducted related party transactions with AGH and its associates, as well as SAIC and its associates.
Financial Information · 第 262 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors believe that our transactions with the related parties during the Track Record were conducted in the normal course of business and on an arm's length basis, and they did not distort our results of operations or make our historical results not reflective of our future performance.
Financial Information · 第 263 页
During the Track Record Period, our related party transaction mainly included (i) purchase of goods from our associate; (ii) purchase of buildings from the spouse of our Controlling Shareholder; (iii) lease fees paid to our Controlling Shareholder; (iv) advance to our Controlling Shareholder; and (v) recovery of advance to our Controlling Shareholder.
Financial Information · 第 368 页
In respect of our purchase of goods from a related party, we made the purchases from Jiangsu Lile Packaging Technology Co., Ltd. for our inner lining for the year ended December 31, 2024 and the eight months ended August 31, 2025.
Financial Information · 第 368 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We had an outstanding balance due from Mr. Sun, the chairman of our Board, executive Director and our Controlling Shareholder, of RMB0.7 million, RMB0.8 million and RMB0.7 million as of December 31, 2023 and 2024, and August 31, 2025, respectively, in our prepayments, other receivables and other assets.
Financial Information · 第 369 页
The counterparties to our related party transactions primarily comprised entities under common control or significant influence of our Controlling Shareholder, including, among others, Wolong Holding and its subsidiaries.
Financial Information · 第 231 页
Our directors confirmed that the related party transactions and balances during the Track Record Period were conducted on normal commercial terms or terms no less favorable to us than those available from independent third parties.
Financial Information · 第 231 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Subsequent to the disposal of this subsidiary in March 2025, we have not entered into any such transactions.
Financial Information · 第 231 页
We have entered into certain continuing connected transactions with Topsun Group or Mr. Yang.
Summary · 第 23 页
During the Track Record Period, the transaction amounts in respect of our procurement of such services and products were approximately RMB78.9 million, RMB32.1 million, RMB47.0 million and RMB20.0 million for the years ended December 31, 2022, 2023 and 2024 and the eight months ended August 31, 2025, respectively.
Summary · 第 24 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Services provided Mr. Yang’s associates and the work outsourced/allocated to Topsun Group do not involve decision-making or strategic thinking, most of them are charged based on volume and/or cost incurred.
Summary · 第 24 页
Our transactions with related parties during the Track Record Period mainly involve the procurement of engineering services for the Phase V Expansion Project from Changsha Hongxing Architecture Engineering Co., Ltd. (湖南紅星建設有限公司), and, to a much lesser extent, provision of frozen food storage services and trading space to and purchase of other goods and services from other related parties.
Financial Information · 第 208 页
We will settle all non-trade nature amounts due from and due to related parties before Listing.
Financial Information · 第 208 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors are of the view that our related party transactions during the Track Record Period were conducted in the ordinary course of business at arm's length with reference to normal commercial terms, and would not distort our track record results or make our historical results not reflective of our future performance.
Financial Information · 第 208 页
Apart from our Company, Dr. Zhang also held directorship and shareholding interests in Waterstone Pharmaceuticals.
Summary · 第 19 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We have entered into certain transactions with Waterstone Pharmaceuticals which will constitute continuing connected transactions upon Listing.
Summary · 第 19 页
After the Closing Date of the Series A Preferred Share financing, based on the terms stipulated in the Series A Share Subscription Agreements, terms and pricing policies of these transactions entered into by JD Group for our Group or between JD Group and us were established.
Financial Information · 第 345 页
The logistics service fees are determined after arm’s length negotiations, and are charged based on a variety of factors including storage space taken and the weights and the delivery distances of the packages.
Financial Information · 第 346 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors believe that our transactions with related parties during the Track Record Period were conducted on an arm’s length basis, and they did not distort our results of operations or make our historical results not reflective of our future performance.
Financial Information · 第 347 页
During the Track Record Period, we purchased equipment and spare parts and research and development outsource service from Fujian Rovos and sold of spare parts of mechanical massage equipment to Fujian Rovos, which is ultimately controlled by Mr. Wu Jinghua, our non-executive Director and substantial shareholder, and hence such transaction constituted related party transaction.
Financial Information · 第 364 页
For Fujian Rovos, we primarily purchased massage equipment and spare parts and research and development outsource service, totaling RMB27.89 million for the eight months ended 31 August 2025.
Business · 第 221 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors believe that our transactions with related parties during the Track Record Period were conducted on an arm's length basis, and they did not distort our results of operations or make our historical results not reflective of our future performance.
Financial Information · 第 364 页
In April 2022, to enjoy the tax benefit in Hainan and considering that a self-owned property provides more stability than a leased property, we entered into a property purchase agreement with Hainan Zimu Online Technology Company Limited* (海南自牧網絡科技有限公司) (“Hainan Zimu”), a subsidiary of Liangkebang, to purchase from it a property for a purchase price of RMB29.0 million.
Financial Information · 第 301 页
As Hainan Zimu failed to release the pledge on the property and compete the registration of the transfer of real estate with the relevant PRC authority by January 31, 2023 and considering that the operation of the Group is expected to be conducted primarily within Beijing in the near future, such property purchase agreement was terminated on February 6, 2023 with the consideration amount and liquidated damages, which equal to 5% of the consideration amount, transferred to the Group in 2023.
Financial Information · 第 301 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors believe that our transactions with related parties during the Track Record Period were conducted on an arm’s length basis, and they did not distort our results of operations or make our historical results not reflective of our future performance.
Financial Information · 第 301 页
We have rendered engineering solution services to Toyota in exchange for service fees of US$4.2 million in 2022, US$0.6 million in 2023, US$0.1 million in 2024 and US$11 thousand in the six months ended June 30, 2025, while no such revenues were generated in the six months ended June 30, 2024 from Toyota.
Financial Information · 第 555 页
We offered Virtual Driver operation services to Sinotrans in exchange for services fees of approximately US$21.2 million in 2022, US$22.5 million in 2023 and US$30.7 million in 2024, and US$12.3 million and US$11.1 million for the six months ended June 30, 2024 and 2025, respectively.
Financial Information · 第 555 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors are of the view that each of the related party transactions set out in Note 15 to the Accountants’ Report included in Appendix I to this Prospectus was conducted in the ordinary course of business on an arm’s length basis and with normal commercial terms between the relevant parties.
Financial Information · 第 557 页
For the year ended December 31, 2024 and the five months ended May 31, 2025, we sold certain robots and functional kits amounting to RMB0.1 million and RMB0.4 million, respectively, to a distributor of ours, namely, Wuhan Zhongtian Huatuo Intelligent Technology Co., Ltd. (武漢中天華拓智能科技有限公司), an associate of Ms. Zhi.
Financial Information · 第 476 页
We do not intend to enter into any new transaction agreements with such entity upon Listing.
Financial Information · 第 476 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors believe that our transactions with related parties during the Track Record Period disclosed above (i) were conducted on arm’s length basis; and (ii) do not distort our Track Record Period results or make our historical results not reflective of future performance.
Financial Information · 第 476 页
For the years ended December 31, 2022, 2023 and 2024, our purchases of goods from Nanjing Pharmaceutical Hubei Co., Ltd. amounted to RMB1.2 million, RMB1.3 million and RMB1.5 million, respectively.
Financial Information · 第 365 页
For the years ended December 31, 2022, 2023 and 2024, our rental payments for leases from Zhongshan Medical Investment amounted to RMB0.3 million, RMB0.3 million and RMB0.5 million, respectively.
Financial Information · 第 365 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看As of December 31, 2022, 2023 and 2024, we had non-trade dividends payable due to Zhongshan Medical Investment of nil, nil and RMB19.4 million, respectively, representing the dividends payable by us under our 2023 annual profit distribution plan.
Financial Information · 第 365 页
As of December 31, 2023 and 2024, the balance with PharmaBlock Sciences (Nanjing), Inc. represented the unsettled research and development expenses, which was trade in nature.
Financial Information · 第 487 页
It is the view of our Directors that each of the above transactions during the Track Record Period (i) was conducted in the ordinary course of business and on an arm’s length basis and on normal commercial terms between the relevant parties, and (ii) did not distort our results of operations over the Track Record Period or made our historical results over the Track Record Period not reflective of our expectations for our future performance.
Financial Information · 第 487 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看As of the Latest Practicable Date, to the best of our Company’s knowledge, except for PharmaBlock, they are all Independent Third Parties.
Business · 第 380 页
During the Track Record Period, we purchased investigational medicinal products as well as R&D services primarily from our related parties, and entered into agreements, in accordance with published prices and conditions agreed by us and the related parties.
Financial Information · 第 453 页
Our amount advanced to a related party, as non-current asset and of trade nature, increased from nil as of December 31, 2022 to RMB39.2 million as of December 31, 2023 and remained the same as of September 30, 2024, as we made a payment of RMB39.2 million to Ascendis Pharma for relevant drug products in November 2023 pursuant to the Commercial Supply Agreement entered in October 2023.
Financial Information · 第 444 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 our related party transactions during the Track Record Period were conducted on an arm's length basis, and that such transactions, in the aggregate, would not distort the results of operations over the Track Record Period or make the historical results over the Track Record Period not reflective of our expectations for future performance.
Financial Information · 第 455 页
In 2021, 2022 and 2023 and for the six months ended June 30, 2024, the amount of purchase from Daide Power Machinery was RMB52.1 million, RMB14.7 million, nil and nil, respectively.
Financial Information · 第 355 页
Such centralized procurement arrangement was terminated in 2023.
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The termination of such centralized procurement arrangement has no impact on our financial and operational performance.
Business · 第 243 页
We have entered into a number of non-exempt continuing connected transactions with iFlytek, including: (i) Services and Products Procurement Framework Agreement, (ii) Products Provision Framework Agreement, and (iii) Bidding Cooperation Agreement.
Summary · 第 20 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors believe that our transactions with related parties during the Track Record Period were conducted on an arm’s-length basis, and they did not distort our results of operations or make our historical results not reflective of our future performance.
Financial Information · 第 462 页
As of December 31, 2021, 2022 and 2023 and June 30, 2024, the total amount of transactions with related parties was RMB55.0 million, RMB27.6 million, RMB33.5 million and RMB8.1 million, respectively, and total outstanding balances of our transactions with related parties was RMB7.3 million, RMB8.7 million, RMB5.8 million and RMB6.7 million, respectively.
Financial Information · 第 483 页
All the amounts of non-trade nature receivables due from related parties and payables due to related parties as of June 30, 2024 will be fully settled prior to Listing.
Financial Information · 第 483 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Amounts due from related parties mainly include loans made to Health Road (Guangzhou) Technology to support its daily operation. The amount is non-trade in nature and is expected to be settled before Listing.
Financial Information · 第 468 页
For successful purchase of insurance products by insurance clients, we paid referral fees of RMB3.9 million, RMB3.4 million and RMB1.0 million to them for FY2021, FY2022 and FY2023, respectively, representing approximately 12.2%, 6.8% and 1.5% of the total referral fees to all of our strategic channel partners for the corresponding years, respectively.
Financial Information · 第 369 页
The average referral fees paid to each of these companies ranged from 18.7% to 46.4% during the Track Record Period, which were on normal commercial terms or on terms no more favourable than those provided to other independent strategic channel partners during the Track Record Period.
Financial Information · 第 369 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看(1) Such amounts represent the deposit with Haier Finance and Haier Consumer Finance as at the respective dates.
Financial Information · 第 371 页