Purchases from our five largest suppliers for each year during the Track Record Period accounted for approximately 22.40%, 25.06% and 33.87%, respectively, of our total purchases for the respective year.
Business · 第 144 页
Purchases from our largest supplier for each year during the Track Record Period accounted for approximately 6.12%, 7.88% and 13.33% of our total purchases for the respective year.
Business · 第 144 页
During the Track Record Period, we maintained stable business relationships with our five largest suppliers in each year which we believe will continue to ensure an adequate and steady supply of raw materials and help control future price fluctuations, and there have been no quality issues with our raw materials that significantly impacted our operations nor shortages or delay in the supply of raw materials that led to production disruptions.
Our top five suppliers in each year during the Track Record Period in the aggregate accounted for 20.8%, 20.1% and 24.2% of our total cost of services in each year during the Track Record Period, respectively.
Summary · 第 8 页
All of our five largest suppliers in each year during the Track Record Period are Independent Third Parties.
Business · 第 196 页
As of the Latest Practicable Date, 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 in each year during the Track Record Period.
In 2023, 2024 and 2025, our top five suppliers in each period accounted for 71.0%, 76.5% and 79.7% of our total purchase, respectively, and our largest supplier in each period accounted for 34.7%, 39.8% and 38.4% of our total purchase, respectively.
Summary · 第 6 页
According to Frost & Sullivan, given the highly concentrated nature of the digital advertising and social media landscape in China, where major platforms command a significant portion of user traffic, and it is an industry norm for content marketing solution providers to maintain a relatively high supplier concentration.
Business · 第 155 页
To mitigate the risk of supplier deterioration, we prioritize a resilient procurement strategy.
Purchases from our five largest suppliers in each year during the Track Record Period were RMB627.5 million, RMB641.4 million and RMB689.6 million, respectively, representing 23.4%, 20.8% and 24.3% of our total purchases for the respective year.
Summary · 第 7 页
All of our five largest suppliers in each year during the Track Record Period were located in the PRC.
Business · 第 134 页
To the best of our knowledge, each of our five largest suppliers in each year during the Track Record Period was an Independent Third Party.
The aggregate purchases from our five largest suppliers in each year during the Track Record Period amounted to HK$87.1 million, HK$108.8 million and HK$145.5 million, respectively, accounting for 40.0%, 37.3% and 31.7% of our total cost of sales for the respective periods.
Summary · 第 4 页
The aggregate purchases from our five largest suppliers in each year during the Track Record Period amounted to HK$87.1 million, HK$108.8 million and HK$145.5 million, respectively, accounting for 40.0%, 37.3% and 31.7% of our total cost of sales for the respective periods.
Business · 第 142 页
We maintain close relationships with our major suppliers to ensure stability of supply. During the Track Record Period, we did not experience any interruption in our supplies that had any material adverse impact on our business or results of operations.
Our transaction amounts with our five largest suppliers in 2023, 2024 and 2025 accounted for 35.3%, 42.5% and 22.8%, respectively, of our total purchase.
Business · 第 170 页
We have established and maintained stable and good relationships with our five largest suppliers for each year during the Track Record Period, having a relationship of five years or above with a majority of them.
In 2023, 2024 and 2025, the aggregate purchases from our top five suppliers in each year during the Track Record Period amounted to RMB51.4 million, RMB76.5 million and RMB75.8 million, respectively, which accounted for 24.6%, 28.0% and 23.3% of our total purchases for the same years, respectively.
Business · 第 145 页
During the Track Record Period, we did not experience any material difficulty in the timely procurement of materials at prices acceptable to us.
Business · 第 145 页
As of the Latest Practicable Date, to the best of our knowledge, none of our Directors, their associates or any other Shareholder which, to the knowledge of our Directors, owned more than 5% of our share capital had any interest in any of our five largest suppliers.
In 2023, 2024 and 2025, purchase from our top five suppliers in each period during the Track Record Period accounted for 34.3%, 31.4% and 35.8% of our total purchases for such period, respectively, and purchase from our largest supplier in each period during the Track Record Period accounted for 9.4%, 9.1% and 14.0% of our total purchases for such period, respectively.
Summary · 第 6 页
The software and other technology services procured from our suppliers serve as supporting components to our R&D activities and do not form part of our core technologies.
上海百秋尚美科技服务集团股份有限公司Shanghai Buy Quickly BMax Technology Services Group Co., Ltd.
前五大供应商采购占比约47%至49%
Our purchases from our five largest suppliers in each year during the Track Record Period in 2023, 2024 and 2025 were RMB195.0 million, RMB234.9 million and RMB277.9 million, respectively, accounting for 48.5%, 47.0% and 47.6% of our total purchases in the respective years.
Business · 第 161 页
Our purchases from our largest supplier in each year during the Track Record Period in 2023, 2024 and 2025 were RMB53.7 million, RMB111.9 million, and RMB133.2 million, respectively, accounting for 13.3%, 22.4% and 22.8% of our total purchases in the respective years.
Business · 第 161 页
We implement a strict supplier access mechanism, establish and maintain a supplier list, and conduct regular evaluation and optimization of suppliers that encourage the use of environmentally friendly materials, the formulation of fair labor policies, and compliance with business ethics.
In 2023, 2024 and 2025, the purchases from our five largest suppliers in each period/year during the Track Record Period amounted to RMB47.1 million, RMB254.8 million and RMB284.7 million, respectively, representing approximately 90.7%, 75.5% and 54.2% of our total purchases for the corresponding period/year, respectively.
Business · 第 176 页
The relatively high supplier concentration in 2023 and 2024 was primarily attributable to our decision to source from reputable suppliers to ensure consistent product quality during the early stage of our business.
Business · 第 181 页
Multiple alternative suppliers in China are available for the products and services that we procure, therefore, we do not consider ourselves to be dependent on any single supplier.
Purchases from our five largest suppliers for the years ended December 31, 2024 and 2025 were US$15.2 million and US$20.4 million, respectively, representing 79.6% and 69.2% of our total purchases for the same periods.
Business · 第 212 页
We believe that we maintain strong and stable relationships with our major suppliers.
Business · 第 212 页
All of our five largest suppliers during the Track Record Period were Independent Third Parties.
During the Track Record Period, purchases from our five largest supplier amounted to RMB83.7 million, RMB155.5 million and RMB263.0 million in 2023, 2024 and 2025, respectively, accounting for 63.2%, 67.2% and 71.2% of our total purchases for the same years, respectively.
Summary · 第 5 页
We have established stable relationships with our suppliers, enabling us to secure a consistent supply of raw materials at competitive prices.
In 2023, 2024 and 2025, purchases from our five largest suppliers in each of the years during the Track Record Period amounted to RMB292.5 million, RMB639.8 million and RMB529.5 million, respectively, accounting for 90.4%, 89.7% and 83.1% of our total purchases in the same years.
Summary · 第 5 页
During the Track Record Period, we maintained multiple suppliers to avoid overreliance on any of the existing suppliers.
Business · 第 175 页
Our Directors believe that the risk of supply chain disruption in packaging and testing is low.
In 2023, 2024 and 2025, the aggregate purchase amounts from our five largest suppliers were RMB141.4 million, RMB264.3 million and RMB628.4 million, representing 24.7%, 30.6% and 45.0% of our total purchases for the same years, respectively.
Business · 第 127 页
In 2023, 2024 and 2025, the purchase amounts from our largest suppliers were RMB30.5 million, RMB81.4 million and RMB243.1 million, representing 5.3%, 9.4% and 17.4% of our total purchases for the same years, respectively.
Summary · 第 4 页
As of the Latest Practicable Date, 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.
In 2023, 2024 and 2025, our procurement from the five largest suppliers in each year during the Track Record Period was RMB519.0 million, RMB598.8 million and RMB1,472.6 million, respectively, accounting for 44.4%, 47.7% and 50.8% of our total purchase, respectively.
Business · 第 155 页
Our Directors confirm 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.
In 2023, 2024 and 2025, cost attributable to our top five largest suppliers in aggregate amounted to Rp1,099,889 million, Rp1,217,985 million and Rp1,780,058 million, respectively, accounting for 59.0%, 64.3% and 72.1% of our total purchase, respectively.
Business · 第 154 页
Such supplier concentration is primarily attributable to advertising, talent and other matter relating to content production purposes.
Business · 第 160 页
Purchases from our top five suppliers were higher in 2025 compared to 2024, primarily due to a higher volume and scale of content production projects undertaken during the period.
In 2023, 2024 and 2025, our purchase from our five largest suppliers in each year during the Track Record Period amounted to RMB8,462.3 million, RMB11,891.6 million and RMB11,924.0 million, which accounted for 16.8%, 22.0% and 25.1%, respectively, of our total purchases in the respective year.
Business · 第 198 页
To the best of our knowledge, each of our five largest suppliers in each year during the Track Record Period was an Independent Third Party.
Business · 第 201 页
To the best of our knowledge, 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 five largest suppliers in each year during the Track Record Period.
In each year during the Track Record Period, our purchases from our five largest suppliers accounted for 39.4%, 38.9% and 38.1% of our total purchases in 2023, 2024 and 2025, respectively.
Business · 第 94 页
Our purchases during the Track Record Period from our largest supplier accounted for 14.1%, 12.7% and 12.1% of our total purchases, respectively, for the same periods.
Business · 第 94 页
During the Track Record Period and up to the Latest Practicable Date, we did not experience any significant fluctuation in prices set by our suppliers, material breach of contracts on the part of our suppliers or delay in delivery of our orders from our suppliers, nor did we have any material disputes with our suppliers.
In 2023, 2024, and 2025, purchases from our five largest suppliers in each year during the Track Record Period amounted to RMB15.1 million, RMB31.5 million, and RMB53.8 million, respectively, accounting for 27.6%, 54.8% and 52.9% of our total purchases for each of the same periods.
Summary · 第 3 页
In addition, we generally source from no more than five suppliers for each type of raw materials.
Business · 第 131 页
During the Track Record Period and up to the Latest Practicable Date, we did not experience quality issues with our suppliers that materially affected our operations and there was no material disruption to the manufacturing of our products due to supply shortage.
During the Track Record Period, purchases from our five largest suppliers in each year during the Track Record Period amounted to RMB1,042.5 million, RMB1,250.9 million and RMB1,331.8 million, representing 41.4%, 47.3% and 37.6% of total procurement for the respective periods.
Business · 第 121 页
Our five largest suppliers in each year during the Track Record Period contributed 41.4%, 47.3% and 37.6% of total procurement for the respective periods.
Summary · 第 3 页
During the Track Record Period, we procured channel traffic services from Supplier A, which served as a user traffic entry point in its capacity as an Aggregation Platform.