During the Track Record Period, our suppliers were mainly CROs, CDMOs, and raw materials and equipment providers. For the years ended December 31, 2023 and 2024, and the six months ended June 30, 2025, our purchases from our five largest suppliers for each year/period amounted to RMB90.6 million, RMB50.6 million and RMB64.2 million, accounting for 34.5%, 29.9% and 75.5% of our total purchases for the corresponding year/period, respectively.
Summary · 第 21 页
Meanwhile, in view of additional factors such as supplier concentration risks and cost efficiency and the commercialization of additional drugs, we also plan to engage new CDMOs to diversify production partnerships for upcoming approved drugs.
Purchases from our five largest suppliers in each year/period during the Track Record Period, on a consolidated basis, were RMB43.4 million, RMB52.6 million, RMB70.5 million and RMB13.4 million in 2022, 2023, 2024 and the three months ended March 31, 2025, respectively, representing 41.1%, 34.3%, 44.5% and 35.8% of our total purchases for the corresponding year/period.
Business · 第 314 页
We have established a stable business relationship with our suppliers for raw materials, which we believe have sufficient capacity to meet our demands.
Business · 第 314 页
To the best of our knowledge, (i) all of our five largest suppliers for each year/period during the Track Record Period are independent third parties, and (ii) none of our Directors, their respective associates or any shareholder who owned more than 5% of our issued share capital as of the Latest Practicable Date has any interest in any of our five largest suppliers for each year/period during the Track Record Period.
The aggregate purchases from our top five suppliers of each of the years ended December 31, 2022, 2023, 2024 and the five months ended May 31, 2025 amounted to RMB313.8 million, RMB400.5 million, RMB1,075.9 million and RMB383.6 million, which accounted for 32.2%, 40.8%, 56.6% and 60.5% of our total purchases of the relevant year/period, respectively.
Business · 第 280 页
For instance, we have established strategic partnerships with our primary suppliers, securing long-term commitments and ensuring a consistent flow of essential raw materials and components.
Business · 第 286 页
Although we maintain a list of backup suppliers, if any supplier fails to deliver raw materials timely, we are still subject to risks associated with a shortage of raw materials.
紫金黄金国际有限公司ZIJIN GOLD INTERNATIONAL COMPANY LIMITED02259.HK
前五大供应商采购约占销售成本三成，最大为紫金矿业
For each year of the Track Record Period, purchases from our top five suppliers amounted to US$348.0 million, US$423.3 million and US$454.3 million, respectively, accounting for 30.7%, 30.4% and 31.2% of our cost of sales for the same periods, respectively.
Summary · 第 20 页
During the Track Record Period, we purchased equipment and raw materials mainly from certain subsidiaries of Zijin Mining, as part of the centralized procurement arrangement implemented by us so that we could procure equipment and raw materials in accordance with the procurement policy of Zijin Mining and enjoy the economies of scale.
In 2022, 2023 and 2024 and the three months ended March 31, 2025, purchases of raw materials from our five largest suppliers in each period during the Track Record Period amounted to RMB12,096 million, RMB20,503 million, RMB28,672 million and RMB8,903 million, respectively, accounting for 15.8%, 16.9%, 14.4% and 17.1% of our total purchases of raw materials for each of the same periods.
Business · 第 273 页
We have a broad base of suppliers and we do not believe that we have material concentration risks.
Business · 第 272 页
A localized and stable supply chain is a key focus in production of vehicles.
In 2022, 2023 and 2024 and the six months ended June 30, 2025, our aggregate purchases from our five largest suppliers in each year/period during the Track Record Period accounted for 52.0%, 44.6%, 43.5% and 47.0% of our total purchases in each year/period during the Track Record Period.
Summary · 第 16 页
Our purchases from our largest supplier in each year/period during the Track Record Period accounted for 19.6%, 15.3%, 12.9% and 14.1% of our total purchases for the respective years/periods.
Business · 第 253 页
We maintain a network of suppliers to minimize potential interruptions to our business operations and avoid over-reliance on any single supplier.
In 2023, 2024 and the four months ended April 30, 2024 and 2025, our purchases from our five largest suppliers in each year/period in aggregate amounted to RMB94.1 million, RMB108.5 million, RMB26.9 million and RMB34.0 million, representing 44.4%, 44.3%, 47.5% and 41.7% of our total corresponding purchases in such period, respectively, and our purchases from the largest R&D supplier in each period accounted for 11.3%, 12.7%, 17.1% and 11.6% of our total corresponding purchases, respectively.
Business · 第 431 页
During the Track Record Period, our major suppliers primarily consisted of CROs and CDMOs and we did not experience any material disputes with our suppliers. In addition, we believe that adequate alternative sources for such supplies exist, and we have developed alternative sourcing strategies for these supplies.
Business · 第 430 页
All of our five largest suppliers in each year/period during the Track Record Period are Independent Third Parties.
健康160国际有限公司160 Health International Limited02656.HK
前五大供应商采购占比最高达80.2%
Our five largest suppliers in each year/period during the Track Record Period in aggregate accounted for 66.0%, 55.6%, 42.7% and 80.2% of our total purchases in 2022, 2023 and 2024 and for the three months ended March 31, 2025, respectively.
Business · 第 341 页
Our key suppliers are primarily pharmaceutical and healthcare product providers, and procurement in this sector is naturally concentrated in a limited number of partners handling large-volume transactions.
Business · 第 341 页
To ensure supply stability and consistency, we typically source each type of supply from one primary supplier, with several alternative options available as backups.
In 2022, 2023, 2024 and the four months ended April 30, 2025, purchase from our five largest suppliers in each year/period during the Track Record Period accounted for 32.7%, 42.7%, 46.2% and 52.1%, respectively, of our total purchase amount for the respective periods.
Summary · 第 7 页
In 2022, 2023 and 2024 and the four months ended April 30, 2025, purchase from our largest supplier in each year/period accounted for 15.6%, 15.9%, 16.8% and 17.6%, respectively, of our total purchase amount for the respective periods.
Business · 第 164 页
We have implemented internal control procedures to monitor and review the order volumes placed with each OEM supplier, thereby ensuring timely fulfillment and effective supply chain management.
During the Track Record Period, purchase from our top five suppliers amounted to RMB1,273.1 million, RMB1,243.7 million, RMB1,541.4 million and RMB801.8 million, accounting for 42.3%, 43.8%, 47.9% and 50.3% of our total purchase in 2022, 2023 and 2024, and the five months ended May 31, 2025, respectively.
Business · 第 238 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.
Purchases from our five largest suppliers (excluding construction service providers) during each year in 2022, 2023, 2024 and the three months ended March 31, 2025, amounted to RMB553.0 million, RMB1,086.4 million, RMB750.2 million and RMB186.0 million, respectively, accounting for 39.1%, 35.9%, 45.6% and 49.9% of our total purchases, respectively, during the same periods.
Business · 第 206 页
To ensure stable supply of raw materials, during the Track Record Period, we maintained multiple suppliers to prevent overdependence and believe that suitable alternatives for our suppliers can be readily found.
Business · 第 205 页
In response to the potential price increases from major suppliers, we primarily conduct secondary source evaluations to mitigate the impact on our raw material costs.
广州银诺医药集团股份有限公司Guangzhou Innogen Pharmaceutical Group Co., Ltd.02591.HK
前五大供应商采购占比约65%至72%
In 2023, 2024 and the five months ended May 31, 2025, the aggregate purchases attributable to our five largest suppliers in each year/period during the Track Record Period amounted to RMB93.1 million, RMB75.0 million, and RMB85.4 million respectively, representing 65.0%, 71.8% and 69.8% of our total purchases, respectively.
Business · 第 333 页
Purchases attributable to our single largest supplier amounted to RMB62.8 million, RMB50.4 million and RMB59.6 million for the same year/period, accounting for 43.9%, 48.3% and 48.7% of our total purchases, respectively.
Business · 第 333 页
Our CDMO partner has established a set of GMP and cGMP-compliant biopharmaceutical R&D and production system which is recognized by the CDE, FDA and EMA. It can provide stable and sufficient supply for the future global development and marketing of Efsubaglutide Alfa.
Our purchases from our five largest suppliers in each year/period during the Track Record Period were RMB170.8 million, RMB199.0 million and RMB19.8 million in each year/period during the Track Record Period, respectively, accounting for approximately 28.0%, 44.5% and 22.1%, respectively, of our total purchases for the respective periods.
Business · 第 322 页
To the best of our knowledge, all of our five largest suppliers during each year/period of the Track Record Period are Independent Third Parties.
Purchases from our five largest suppliers were RMB58.1 million, RMB27.2 million and RMB13.0 million in each year/period during the Track Record Period, respectively, representing 34.6%, 26.0% and 33.5% of our total purchases for the same year/period, respectively.
Business · 第 424 页
We believe that we maintain strong and stable relationships with our major suppliers.
Business · 第 424 页
Our principal raw materials are generally readily available in the market through a number of suppliers.
武汉大众口腔医疗股份有限公司Wuhan Dazhong Dental Medical Co., Ltd.02651.HK
前五大供应商采购占比曾达49.9%
Our purchases from the five largest suppliers in each year of the Track Record Period accounted for 49.9%, 44.9% and 42.4% of our total purchases during the same years, respectively, and our purchases from the largest supplier accounted for 20.8%, 16.2% and 14.6% of our total purchases, respectively.
Summary · 第 9 页
To ensure the stability of supplies while maintaining supply consistency, we typically source each type of supplies from selected suppliers with several alternative options for backup.
北京讯众通信技术股份有限公司Beijing Xunzhong Communication Technology Co., Ltd.02597.HK
前五大供应商采购占销售成本升至57.4%
In 2022, 2023 and 2024, our purchases from our five largest suppliers in each year accounted for 38.1%, 50.4%, and 57.4% of our total cost of sales for the same year, respectively, with purchases from our largest supplier in each year accounting for 11.6%, 20.9%, and 29.0% of our total cost of sales for the same year, respectively.
Business · 第 221 页
According to F&S, it is common practice in the cloud-based communications services market for service providers to procure telecommunications services from other service providers.
Business · 第 222 页
In 2022, 2023 and 2024, the discount of average purchase costs of messaging services from purchases from service providers, as compared to the average purchase costs from purchases from telecommunications operators, ranged from more than 0.5% to less than 3%.
In 2022, 2023 and 2024, purchase of raw materials from our five largest suppliers amounted to RMB9,033.5 million, RMB17,224.6 million and RMB26,064.7 million, accounting for 23.7%, 37.4% and 43.6% of our total cost of sales in the respective periods.
Summary · 第 4 页
Our suppliers are mainly suppliers of raw materials and equipment. We have established and maintain stable and long-term relationships with these major suppliers.
Summary · 第 4 页
We have established rigorous processes for the selection, evaluation and management of our suppliers to ensure suppliers meet our quality and performance standards.
For the years ended 31 December 2022, 2023, and 2024, our purchases from our five largest suppliers were US$7.9 million, US$8.1 million, US$18.4 million, respectively, in each year accounted for 67.4%, 72.2% and 83.4% of our total purchases for the respective year.
Summary · 第 14 页
The purchases from our largest supplier were US$5.1 million, US$5.6 million and US$14.0 million in each year in the Track Record Period, respectively, in each year accounted for 44.0%, 50.2% and 63.5% of our total purchases for the respective year.
Business · 第 392 页
None of our Directors, their respective close associates and any Shareholder who, to the knowledge of our Directors, own more than 5% of the issued share capital of our Company have any interest in any of our top five suppliers.
Procurement from our five largest suppliers in each year of the Track Record Period represented 24.8%, 20.4%, and 26.4% of our total procurement, respectively, and procurement from our largest supplier in each year of the Track Record Period represented 7.1%, 5.9%, and 10.5% of our total procurement, respectively.
Summary · 第 9 页
We formulate our room reservation strategy for each center on a case-by-case basis including (i) the flexible arrangement which we mostly rely on to rapidly scale the business of individual centers; and (ii) the fixed-term hotel room reservation arrangement we enter into to obtain better rates.
Summary · 第 9 页
Our Directors confirm that our five largest suppliers during the Track Record Period were all Independent Third Parties and that none of our Directors, their respective close associates or any Shareholder (which to the knowledge of our Directors owned more than 5% of our share capital as of the Latest Practicable Date) had any interest, directly or indirectly in any of our five largest suppliers during the Track Record Period.
In each year during the Track Record Period, the aggregate purchases from our five largest suppliers in each of such year accounted for approximately 13.0%, 13.8% and 15.5%, respectively, of our total purchases, and the purchases from our largest supplier in each of such year accounted for approximately 4.8%, 3.7% and 4.0%, respectively, of our total purchases.
Business · 第 217 页
To avoid supplier concentration, we diversify our supplier base by engaging multiple suppliers for the same goods or services and implementing strategic sourcing practices.
Business · 第 217 页
The Directors confirm that we did not experience any material shortage of supply, raw material quality issue, disruptions, disputes or delays in relation to the supply of suppliers, or any material breach or early termination of our contractual arrangements with suppliers during the Track Record Period and up to the Latest Practicable Date.