In each year/period during the Track Record Period, purchases from our five largest suppliers amounted to RMB66.4 million, RMB78.8 million, RMB91.1 million and RMB49.6 million, accounting for 32.6%, 31.0%, 34.4% and 30.8% of our total purchases in the respective periods.
Business · 第 154 页
To the best knowledge of our Directors, during the Track Record Period, all of our five largest suppliers were Independent Third Parties.
Business · 第 154 页
In addition, we had not placed over-reliance on any single supplier for raw materials during the Track Record Period and up to the Latest Practicable Date.
Purchases from our five largest suppliers in each period of the Track Record Period accounted for 47.1%, 74.8%, 84.8%, and 74.5% of our total purchases, respectively.
Business · 第 159 页
In the six months ended June 30, 2026, Supplier O, an AIDC rental services provider, was our largest supplier, accounting for 50.5% of our total purchases in that period.
Business · 第 165 页
We dynamically allocate procurement volumes among our major suppliers across both categories to avoid over-reliance.
The purchases attributable to our five largest suppliers for each period during the Track Record Period were US$44.5 million, US$42.8 million, US$46.9 million and US$22.7 million, respectively, accounting for 27.4%, 25.8%, 28.6% and 30.1% of our total purchases, respectively.
Business · 第 153 页
In particular, we generally require comparison among at least two vendors for procurement and such requirement is monitored at group level.
Business · 第 152 页
We generally procure raw materials and components from suppliers through non-exclusive supply contracts with no minimum purchase commitment.
In 2023, 2024, 2025 and the six months ended June 30, 2026, our purchases from the five largest suppliers in each period during the Track Record Period amounted to RMB368.3 million, RMB373.1 million, RMB307.3 million and RMB215.5 million, representing 51.9%, 45.1%, 42.1% and 43.2% of our total purchases for the corresponding period, respectively
Business · 第 138 页
To enhance the stability of our natural gas supply, we hold an 18.52% equity interest in Shandong Jinjie.
Business · 第 138 页
For key supplies, we generally maintain two to three qualified suppliers, where commercially practicable, to reduce our reliance on any single supplier.
In 2023, 2024, 2025 and for the three months ended March 31, 2026, the aggregate purchase amounts from our five largest suppliers in each year/period during the Track Record Period were RMB955.2 million, RMB943.8 million, RMB1,412.7 million and RMB429.3 million, representing 44.5%, 44.5%, 54.6% and 64.4% of our total purchase amount for the respective years.
Business · 第 176 页
We actively seek to expand supplier channels to reduce reliance on a single supplier and enhance the stability of the supply chain.
Business · 第 181 页
We believe that our operation is not dependent on any particular supplier.
Purchases attributable to our five largest suppliers in 2023, 2024, 2025 and the six months ended June 30, 2026 accounted for 54.4%, 42.2%, 44.2% and 42.3% of our total purchases in the same periods, respectively, and purchases attributable to our single largest supplier in each period of the Track Record Period accounted for 34.9%, 12.2%, 17.4%, and 11.9% of our total purchases in the same periods, respectively.
Summary · 第 5 页
Purchases attributable to our five largest suppliers in each period of the Track Record Period accounted for 54.4%, 42.2%, 44.2% and 42.3% of our total purchases in 2023, 2024, 2025 and the six months ended June 30, 2026, respectively, and purchases attributable to our single largest supplier in each period of the Track Record Period accounted for 34.9%, 12.2%, 17.4%, and 11.9% of our total purchases in the same periods, respectively.
Business · 第 160 页
Upstream, we purchase critical components, including automotive-grade chips, structural modules, lenses, PCBs and other electronic components, leveraging a flexible dual-platform strategy that integrates both domestic and imported chips to ensure supply chain resilience and superior cost-efficiency.
Purchases from our five largest suppliers in each period during the Track Record Period accounted for 36.7%, 37.0%, 34.5% and 50.2% of our total purchases for the respective periods.
Summary · 第 9 页
During the Track Record Period, we did not have significant reliance on any single supplier.
Business · 第 142 页
We maintain a diversified supplier base and have established long-term and stable relationship with suppliers.
For the years ended December 31, 2023, 2024 and 2025 and the six months ended June 30, 2026, purchases from our five largest suppliers accounted for 33.6%, 33.1%, 39.1% and 38.2% of our total purchases, respectively, while purchases from our largest supplier accounted for 19.0%, 18.1%, 18.7% and 16.7%, respectively.
Business · 第 130 页
During the Track Record Period and as of the Latest Practicable Date, except for the Guangdong Rising Holdings, none of our Directors, their 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 suppliers.
Business · 第 132 页
Due to the intensive competition in the relevant contracting service market, we do not believe that it would be difficult for us to find alternative contractors to provide similar services on terms comparable to those with our existing contractors.
The purchases from our top five suppliers in each period during the Track Record Period were RMB737.1 million, RMB919.3 million, RMB1,220.7 million and RMB904.0 million, respectively, representing 41.5%, 40.1%, 42.2% and 45.3% of our total purchases in the same periods, respectively.
Business · 第 142 页
For principal materials, we generally maintain at least two qualified suppliers unless a customer designates a particular source.
Business · 第 141 页
Our Directors confirm that we had not experienced any material fluctuation in prices set by our suppliers, material breach of contract on the part of our suppliers or delay in delivery of our orders from our suppliers during the Track Record Period.
In each of 2023, 2024 and 2025 and the four months ended April 30, 2026, and our purchases from our five largest suppliers amounted to RMB2,037.2 million, RMB2,680.8 million, RMB3,383.7 million and RMB1,466.8 million, respectively, accounting for 36.4%, 38.5%, 38.2% and 40.5% of our total purchase, respectively, for each of the same periods, while our purchase from the largest supplier amounted to RMB1,013.4 million, RMB1,212.0 million, RMB1,517.5 million and RMB554.8 million, respectively, accounting for 18.1%, 17.5%, 17.2% and 15.3% of our total purchases, respectively, for each of the same periods.
Business · 第 142 页
To improve our supply chain stability and maintain bargaining power, we generally retain multiple suppliers for our principal raw materials.
Business · 第 142 页
We have maintained a sizable pool of reliable suppliers and implemented a rigorous supplier qualification and dynamic management system to monitor the supplier admission, qualification audits, and performance evaluations.
In each year/period during the Track Record Period, purchases from our five largest suppliers were RMB9.8 million, RMB26.5 million, RMB79.1 million, and RMB74.4 million, representing 35.8%, 36.4%, 40.1%, and 38.4% of our total purchases, respectively.
Business · 第 176 页
Purchases from our five largest suppliers as a percentage of our total purchases increased from 2023 to 2025 and slightly decreased in the six months ended June 30, 2026, primarily due to the overall expansion of our production scale in line with revenue growth, which drove higher procurement volumes across key raw materials and components.
Business · 第 176 页
We maintain stable relationships with qualified suppliers to ensure supply continuity and manage cost fluctuations.
彤程新材料集团股份有限公司Red Avenue New Materials Group Co., Ltd.09607.HK
往绩记录期间五大供应商采购占比25%-32%
Purchases from our five largest suppliers in each year/period during the Track Record Period amounted to RMB486.6 million, RMB556.8 million, RMB644.3 million and RMB448.8 million, respectively, representing 25.1%, 25.4%, 28.3% and 31.8% of our total purchases for the respective year/period.
Summary · 第 3 页
Purchases attributable to our largest supplier in each year during the Track Record Period amounted to RMB108.0 million, RMB170.0 million, RMB152.6 million and RMB133.8 million, respectively, accounting for 5.6%, 7.7%, 6.7% and 9.5% of our total purchases, respectively.
Business · 第 136 页
Our operations are not dependent on a single supplier. To guarantee stable supply of raw materials, we have established relationships with multiple suppliers to avoid overdependence.
In each year ended December 31, 2023, 2024 and 2025 and the six months ended June 30, 2026, purchases from our five largest suppliers accounted for 22.4%, 31.3%, 32.9% and 27.3% of our total purchase amount, and purchases from our largest supplier accounted for 6.9%, 14.7%, 14.2% and 9.4% of our total purchase amount, respectively.
Summary · 第 3 页
To maintain sourcing stability and bargaining power, we generally retain multiple suppliers for principal raw materials.
Our major suppliers during the Track Record Period comprised mostly independent construction contractors and equipment suppliers.
Summary · 第 7 页
Our purchases from the five largest suppliers in each year/period during the Track Record Period amounted to RMB171.3 million, RMB429.3 million, RMB344.2 million, and RMB40.9 million, representing 33.5%, 37.1%, 32.7% and 24.0% of our total purchases, respectively.
Business · 第 163 页
Our Directors confirm that, as of the Latest Practicable Date, the five largest suppliers of our Group during each year of the Track Record Period were all Independent Third Parties and, during the Track Record Period and up to the Latest Practicable Date, none of our Directors or their respective close associates or any of our Shareholders, to the knowledge of our Directors, owned more than 5% of our issued Shares, had any interest in any of our such suppliers.
广东微电新能源股份有限公司Guangdong Mic-Power New Energy Co., Ltd.
前五大供应商采购占比约四成
During the Track Record Period, purchase from our top five suppliers amounted to RMB59.2 million, RMB72.3 million, RMB91.6 million, and RMB59.5 million, accounting for 43.3%, 35.4%, 38.2%, and 40.2% of our total purchase in 2023, 2024, 2025, and in the six months ended June 30, 2026, respectively.
Business · 第 175 页
We believe that our stable relationships with suppliers will continue to ensure an adequate and steady supply of raw materials and help control future price fluctuations.
The aggregate purchases from our top five suppliers in 2023, 2024, 2025 and the four months ended April 30, 2026 were RMB172.9 million, RMB785.5 million, RMB514.1 million and RMB166.3 million, respectively, representing 13.5%, 27.1%, 20.9% and 22.5% of our total purchase amount in the same periods, respectively.
Business · 第 152 页
Our Directors confirmed that we had not experienced any significant material fluctuation in prices set by our suppliers, material breach of contract on the part of our suppliers or delay in delivery of our orders from our suppliers during the Track Record Period.
Business · 第 152 页
For our E-mobility products and powersports products, the majority of core components, including frames, motors, battery packs and main cables, are manufactured in-house.
In 2023, 2024, 2025 and the six months ended June 30, 2026, purchases from our five largest suppliers amounted to RMB43.7 million, RMB65.7 million, RMB89.3 million and RMB55.9 million, respectively, representing approximately 36.8%, 39.5%, 35.8% and 31.1% of our total purchases for the same periods.
Summary · 第 6 页
While we rely on certain core suppliers and partners in particular markets or service lines, we have established relationships with multiple alternative suppliers in key jurisdictions and plan to further broaden and optimize our supplier network.
Business · 第 138 页
We do not expect that the loss of any single supplier would have a material adverse impact on our business as a whole, although disruptions or changes in relationships with one or more important suppliers in a specific region or service line could affect our cost structure or service capacity in that area.
广西玉柴船电动力股份有限公司Guangxi Yuchai Marine and Genset Power Co., Ltd.
前五大供应商采购占比约四至五成
In FY2023, FY2024, FY2025 and 1H2026, purchases from our largest supplier in each year/period amounted to RMB563.7 million, RMB626.8 million, RMB882.3 million and RMB606.0 million, representing 20.1%, 17.5%, 15.5% and 15.4% of our total purchase amount, respectively, while purchases from our five largest suppliers in each year/period amounted to RMB1,328.3 million, RMB1,585.9 million, RMB2,327.4 million and RMB1,649.9 million, representing 47.4%, 44.4%, 40.9% and 42.0% of our total purchase amount, respectively.
Business · 第 125 页
In addition to maintaining strong ties with major suppliers, we proactively expand our supplier network to broaden sourcing channels for key components and enhance supply chain resilience.
Business · 第 122 页
Our Directors believe, and Frost & Sullivan has confirmed, that such alternative suppliers are generally available for the relevant products and services on similar terms and with comparable quality.
宁波舜宇智行科技股份有限公司Ningbo Sunny Smart Autotech Company Limited
往绩期间五大供应商采购占比约五成
For the years ended December 31, 2023, 2024, 2025 and the six months ended June 30, 2026, purchases from our largest supplier in each period of the Track Record Period accounted for 17.3%, 14.2%, 13.0% and 15.9% of our total purchase, respectively, while our five largest suppliers in each period of the Track Record Period accounted for 56.4%, 49.0%, 50.2% and 49.8% of our total purchase, respectively.
Business · 第 153 页
The market for electronic components is characterized by high supplier concentration and strong supplier bargaining power.
Business · 第 153 页
To enhance the stability and resilience of our supply chain, we employ an “n+1” sourcing strategy for key components, which involves qualifying at least two suppliers for each component to mitigate the risk of supply disruptions and avoid dependence on any single supplier.
Our purchases from our five largest suppliers in each period during the Track Record Period were RMB2,384.8 million, RMB2,474.8 million, RMB2,104.6 million and RMB2,395.8 million, respectively, representing 94.9%, 89.9%, 54.6% and 61.7% of our total purchase amount in the same periods, respectively.
Summary · 第 7 页
Our commitment to quality is demonstrated by our disciplined approach to supplier relationships, where we maintain a diversified base of qualified suppliers to mitigate risk and ensure a consistent supply of high-purity raw materials, primarily cathode copper.
Business · 第 164 页
During the Track Record Period and up to the Latest Practicable Date, we had not experienced any shortage or delay in procuring our supplies.