During the Track Record Period, we provided unsecured loans to a subsidiary that Mr. Qiu has 50% equity interests and certain subsidiaries controlled by Mr. Qiu to provide financial support for its business expansion.
Financial Information · 第 260 页
All outstanding non-trade balances with our related parties (including the aforementioned amounts due from related parties) will be fully settled before [REDACTED].
Financial Information · 第 260 页
It is the view of our Directors that each of the related party transactions set out in note 37 to the Accountants’ Report in Appendix I 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.
Our Directors confirm that the material related party transaction during the Track Record Period was conducted on an arm’s length basis, and would not distort our results of operations over the Track Record Period or make our historical results over the Track Record Period not reflective of our expectations for our future performance.
Our amounts due from related parties primarily consist of mainly represented receivable for capital contributions due from related parties for series of financing. All the outstanding receivable balances were subsequently settled in cash in September 2025.
Financial Information · 第 260 页
The amounts due to a related party as of December 31, 2024 represent a net payable position of the transactions arising from the reorganization steps.
Financial Information · 第 262 页
Our Directors are of the view that each of the related party transactions set out in Note 39 to the Accountant’s 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.
Our Directors believe that our transactions with related parties during the Track Record Period were conducted in the ordinary and usual course of business and on an arm’s length basis, and they did not distinct our results of operations or make our historical results not reflective of our future performance.
During the Track Record Period, our Company (i) sold medical devices, including sequencing equipment, reagents and consumables, (ii) provided research services, primarily comprising scientific research sequencing solutions and (iii) provide labor services, to our subsidiaries.
Financial Information · 第 249 页
The pricing and other principal terms of our related party transactions are determined in accordance with our internal related party transaction pricing policy.
Financial Information · 第 249 页
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.
As of December 31, 2023, 2024 and 2025, we recorded amounts due from related parties of RMB111.5 million, RMB157.3 million and RMB196.0 million.
Financial Information · 第 227 页
Our Directors confirm that RMB1.2 million of the related party balances which are non-trade in nature and did not occur in our ordinary course of business has been settled as of the Latest Practicable Date and the remaining of which will be settled upon Listing.
Financial Information · 第 227 页
Our Directors are of the view that each of the related party transactions set out in Appendix I to this document was conducted on an arm’s length basis and would not distort our track record results or cause our historical results to be not reflective of our future performance.
The following table sets forth a breakdown of our outstanding balances with related parties as of the dates indicated:
Financial Information · 第 243 页
Our Directors believe that each of the related-party transactions set out in Note 42 in the Accountants’ Report in Appendix I to this document was conducted in the ordinary course of business on an arm’s-length basis between the relevant parties and was entered into on normal commercial terms.
Financial Information · 第 243 页
Our Directors are also of the view that our related-party transactions during the Track Record Period would not distort our track record results or make our historical results not indicative of our future performance.
It is a joint venture established by us and a leading automotive company in China. As of the Latest Practicable Date, we held 45.0% equity interest in Customer B.
During the Track Record Period, we engaged in transactions with Supplier D for (i) the procurement of organic raw cow’s milk, (ii) the procurement of cows, and (iii) the leasing of farming facilities.
Business · 第 166 页
Such transactions formed part of a structured arrangement to resolve competitive conflicts in preparation of the [REDACTED], given that both us and Supplier D were engaged in dairy cow farming operations.
Business · 第 166 页
We have ceased all transactions with Supplier D and plan to fully settle the outstanding payable to Supplier D prior to the [REDACTED].
As of December 31, 2025, our interest-bearing borrowing due to Kangwang Investment was RMB21.1 million.
Financial Information · 第 259 页
Our Directors confirmed that the outstanding balance due to Kangwang as well as other non-trade balances with related parties will be settled prior to the [REDACTED].
Financial Information · 第 259 页
In September 2025, the guarantees granted by Mr. Mu to us were fully released.
Our Directors believe that each of the related-party transactions set out in Note 34 in the Accountants' Report in Appendix I to this prospectus was conducted in the ordinary course of business on an arm's-length basis between the relevant parties and was entered into on normal commercial terms.
Financial Information · 第 256 页
Our Directors are also of the view that our related-party transactions during the Track Record Period would not distort our track record results or make our historical results not indicative of our future performance.
Amounts due from related parties decreased from RMB26.8 million as of December 31, 2024 to RMB3.9 million as of December 31, 2025 resulting from the repayment made during the year.
Financial Information · 第 240 页
All non-trade receivables from Wuhan Weiai, Wuhan Aiminisen and Wuhan Changsheng were waived on August 26, 2025 accordingly.
Financial Information · 第 248 页
Our Directors are also of the view that our related-party transactions during the Track Record Period would not distort our track record results or make our historical results not indicative of our future performance.
In connection with these continuing connected transactions, we have applied for, and the Stock Exchange [has granted] us, waivers from strict compliance with certain requirements set out in Chapter 14A of the Listing Rules, including waivers of continuing connected transactions with terms of more than three years.
Procurement through supplier A aligned with industry practice and was commercially necessary to our business.
Business · 第 173 页
For the years ended December 31, 2023, 2024 and 2025, revenue generated from Supplier A amounted to RMB88.1 thousand, RMB174.1 thousand and RMB88.1 thousand, accounting for 0.01%, 0.02% and 0.01% of our total revenue, respectively;
In 2023, 2024 and 2025, our revenue generated from such sales was RMB194.0 million, RMB273.8 million and RMB353.4 million, respectively, accounting for 1.8%, 2.6% and 3.1% of our total revenue in the same periods, respectively.
Business · 第 128 页
In 2023, 2024 and 2025, we had 12, 14 and 31 customers, including retailers and distributors, which were or controlled by our former employees.
Business · 第 129 页
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.
During the year ended 31 December 2024, the Company provided two loans to Mr. Jin with total principal amount of RMB20.0 million in September 2024 and RMB10.0 million in November 2024, bearing an annual interest rate of 3%. Such loans were settled in December 2024, February and March 2025.
Financial Information · 第 231 页
Other receivables (including non-current and current) increased significantly from RMB11.3 million as at 31 December 2023 to RMB30.1 million as at 31 December 2024, primarily due to an amount due from the Controlling Shareholder of RMB20.0 million.
Financial Information · 第 231 页
Our Directors have confirmed that all related party transactions during the Track Record Period were conducted on normal commercial terms that are reasonable and in the interest of our Group as a whole.
In December 2024, a related party made a loan to our Group in the amount of RMB20.0 million, which we fully repaid in January 2025.
Financial Information · 第 208 页
Our Directors are of the view that each of the related party transactions set out in Note 38 to the Accountants’ Report in Appendix I 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.
上海易景信息科技股份有限公司Shanghai Innovatech Information Technology Co., Ltd.
往绩记录期间存在重大关联交易
For a discussion of material related party transactions during the Track Record Period, see Note 32 to the Accountants’ Report set out in Appendix I to this Document.
Financial Information · 第 212 页
Our Directors are of the view that each of the related party transactions set out in Note 32 to the Accountants’ Report in Appendix I to this Document was conducted on an arm’s length basis and would not distort our track record results or cause our historical results to be not reflective of our future performance.
We expect to settle the outstanding non-trade related party balances as of December 31, 2025 by the date of this document.
Financial Information · 第 226 页
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.
Our Directors believe that our transactions with related parties during the Track Record Period were conducted in the ordinary and usual course of business and on an arm’s length basis, and they did not distinct our results of operations or make our historical results not reflective of our future performance.
Financial Information · 第 252 页
Our Directors confirm that balances with the related party as of December 31, 2025 will be settled prior to the [REDACTED].