Purchases from our respective five largest suppliers in each year during the Track Record Period were RMB1,068.7 million, RMB1,191.6 million and RMB1,079.9 million, respectively, representing 48.8%, 52.6% and 48.4% of our total purchases for that respective year, respectively.
Summary · 第 4 页
Purchases from our respective largest supplier were RMB449.0 million, RMB538.2 million and RMB418.7 million in each year during the Track Record Period, respectively, representing 20.5%, 23.8% and 18.8% of our total purchases for that respective year.
Summary · 第 4 页
During the Track Record Period, we did not experience any material disputes with suppliers, difficulties in the procurement, interruptions in our operations due to a shortage or delay of supplies or significant fluctuations in prices.
In 2023, 2024 and 2025, purchases from the five largest suppliers in each year during the Track Record Period were RMB44.1 million, RMB254.4 million and RMB438.6 million, respectively, accounting for 75.6%, 74.0% and 78.3% of our total purchases, respectively.
Summary · 第 5 页
All of our key suppliers are independent third parties.
Business · 第 149 页
We maintain a dedicated supply chain team responsible for enforcing quality standards, strengthening supplier relationships and mitigating procurement risks.
深圳杰成新能源科技股份有限公司Shenzhen Jiecheng New Energy Technology Co., Ltd.
前五大供应商采购占比2023年达49.5%
In 2023, 2024 and 2025, purchases from our five largest suppliers for each year during the Track Record Period amounted to RMB651.6 million, RMB294.7 million, and RMB289.7 million, respectively, representing approximately 49.5%, 27.0% and 21.3% of our total purchase amount during the respective year.
Summary · 第 5 页
For the years ended December 31, 2023, 2024 and 2025, procurement from our five largest suppliers for each year during the Track Record Period represented approximately 49.5%, 27.0% and 21.3% of our total purchase for the same years, respectively, and procurement from our largest supplier for each year during the Track Record Period represented approximately 16.1%, 6.8% and 6.6% of our total purchase for the same years, respectively.
Business · 第 149 页
We consider it important to maintain good business relationships with our suppliers and where possible, to diversify our supplier base so as to avoid any disruptions of our operations.
Purchases from our five largest suppliers in each year of the Track Record Period amounted to RMB114.9 million, RMB116.0 million and RMB140.4 million, representing 72.6%, 34.9% and 23.6% of our total purchases for the years ended December 31, 2023, 2024 and 2025, respectively.
Summary · 第 4 页
For each category of services or products procured, there are typically multiple qualified suppliers in the market, and we select suppliers based on pricing, quality and technical capabilities through price comparisons.
Business · 第 149 页
We believe we have sufficient alternative suppliers for our business that can provide us with substitutes of comparable quality and prices.
江苏零一汽车科技股份有限公司Jiangsu Zeron Automobile Technology Company Limited
前五大供应商采购占比升至49.6%
For the years ended December 31, 2023, 2024 and 2025, our purchases from our five largest suppliers in each year during the Track Record Period in aggregate amounted to RMB18.2 million, RMB135.6 million and RMB422.6 million, respectively, representing 33.3%, 48.6% and 49.6% of our total purchases in the corresponding years.
Summary · 第 7 页
Our purchases from our largest supplier in each year during the Track Record Period amounted to RMB4.9 million, RMB67.4 million and RMB98.1 million, respectively, representing 8.9%, 24.2% and 11.5% of our total purchases in the corresponding years.
Business · 第 148 页
We have established a structured supplier qualification and management framework, and we will establish necessary relationships with alternative sources based on supply continuity risk assessment.
In the same periods, the purchases from our largest supplier in each year during the Track Record Period amounted to RMB552.2 million, RMB665.3 million and RMB464.8 million, representing approximately 17.4%, 19.9% and 12.7% of our total purchases for the corresponding year, respectively.
Business · 第 162 页
We have established long-term and stable cooperative relationships with our major suppliers.
Business · 第 162 页
We have also enhanced communication and strategic cooperation with our suppliers to, wherever possible, lock in the raw material procurement costs for order fulfillment and stabilize our supply channels.
In 2024 and 2025, our purchases from our five largest suppliers in each year in the aggregate accounted for 51.65% and 41.15% of our total purchases in the respective year, respectively, and purchases from our largest supplier in each year accounted for 25.99% and 15.45% of our total purchases in the respective year, respectively.
Business · 第 192 页
To the best of knowledge of our Directors, all of our five largest suppliers in each year during the Track Record Period are Independent Third Parties.
Business · 第 193 页
Nevertheless, we believe there are sufficient alternative sources for such supplies.
In 2024 and 2025, our purchases from our five largest suppliers in each period in aggregate amounted to RMB42.4 million and RMB30.5 million, representing 44.1% and 36.1% of our total corresponding purchases in each period during the Track Record Period, respectively.
Business · 第 186 页
In the same period, our purchases from the largest supplier amounted to RMB28.2 million and RMB15.7 million, representing 29.3% and 18.5% of our total corresponding purchases in each period during the Track Record Period, respectively.
Business · 第 186 页
In addition, we believe that adequate alternative sources for such supplies exist, and we have developed alternative sourcing strategies for these supplies.
2025, our purchases from our largest supplier accounted for 12.1%, 21.9% and 32%, respectively, of our total purchases during the same years or period, and purchases from our five largest suppliers in the aggregate accounted for 35.2%, 48.1% and 63.6%, respectively, of our total purchases during the same years or period.
Summary · 第 11 页
All of our five largest suppliers are Independent Third Parties.
Business · 第 242 页
To mitigate the interruptions or terminations of critical component parts of our percutaneous puncture surgical robots from our suppliers, we typically maintain a safety inventory level of two months.
In 2023, 2024, and 2025, our purchases from our five largest suppliers in each year during the Track Record Period in aggregate amounted to RMB1,944.7 million, RMB1,857.6 million and RMB2,079.4 million, representing 35.6%, 32.3% and 35.5% of our total corresponding purchases in such year, respectively, and our purchases from the largest supplier in each year during the Track Record Period, accounted for 11.2%, 12.1% and 10.8% of our total corresponding purchases, respectively.
Business · 第 177 页
We consider our arrangements with suppliers to be conducted in the ordinary course of business and have not experienced any material adverse impact arising from such arrangements.
Business · 第 177 页
In addition, we believe that adequate alternative sources for such supplies exist, and we have developed alternative sourcing strategies for these supplies.
浙江晶通新材料集团股份有限公司Zhejiang Kingdom New Material Group Co., Ltd.
前五大供应商采购占比32.6%至43.5%
In 2023, 2024 and 2025, our purchases from the five largest suppliers were RMB370.9 million, RMB516.2 million and RMB481.1 million, respectively, accounting for 43.5%, 35.2% and 32.6% of our total purchase in the same periods, respectively.
Business · 第 158 页
In 2023, 2024 and 2025, our purchases from the single largest supplier amounted to RMB147.5 million, RMB141.6 million and RMB195.2 million, respectively, accounting for 17.3%, 9.6% and 13.2% of our total purchase in the same periods, respectively.
Business · 第 158 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 the years ended December 31, 2023, 2024 and 2025, purchases from our five largest suppliers in each year of the Track Record Period amounted to RMB44.5 million, RMB48.4 million and RMB50.7 million representing 30.0%, 33.6% and 36.6% of our total purchases* for the same years, respectively.
Summary · 第 7 页
Specifically, raw materials used in the drug coating process and structure of our stent products, including (i) sirolimus, (ii) degradable polymer, and (iii) cobalt-chromium alloy tube, are primarily sourced from overseas due to their outstanding quality, for which we have, or are developing domestic backup suppliers.
Business · 第 158 页
We have also maintained a list of backup suppliers to minimize the risks associated with shortage of raw materials.
Purchases from our five largest suppliers amounted to RMB533.1 million, RMB702.5 million and RMB600.9 million, respectively, representing 59.9%, 58.0% and 44.7% of our total purchases for the same years/period, respectively.
Summary · 第 9 页
Due to the nature of mining operations and the importance of proximity, operational familiarity and local service availability, we selected suppliers and contractors primarily based on the location of our mining operations, particularly the Ying Project and the GC Mine.
Summary · 第 9 页
While we had a concentration of suppliers during the Track Record Period, we believe there are sufficient local suppliers of consumables and services offering comparable prices and terms.
For the years ended December 31, 2023, 2024 and 2025, purchases from our five largest suppliers in each year in aggregate accounted for 49.8%, 61.1%, and 70.1% of our total purchases, respectively, and purchases from our single largest supplier in each year accounted for 13.3%, 39.5%, and 39.4% of our total purchases, respectively.
Business · 第 168 页
(i) our practice of maintaining multiple suppliers for key materials during the Track Record Period, with two to three suppliers typically engaged for each type of chip; (ii) the availability of suitable substitute suppliers offering comparable pricing and terms; and (iii) access to a diverse supplier base, as confirmed by CIC, providing us with flexibility to identify alternative suppliers that meet our procurement requirements under commercially reasonable terms.
Business · 第 172 页
We believe we have sufficient alternative suppliers for raw materials and components that can provide us with substitutes of comparable quality and prices.
Purchases from our five largest suppliers for each year during the Track Record Period accounted for 76.7%, 76.8% and 70.2% of our total purchases for the respective year.
Business · 第 148 页
We have also entered into a long-term supply arrangement with Shougang Jingtang to ensure a stable and uninterrupted supply of carbon-containing industrial off-gas for our production process. We believe such arrangement reflects our mutual benefits.
For each of the Track Record Period, the aggregate purchases from our five largest suppliers accounted for approximately 48.6%, 48.7% and 50.1% of our total purchases, respectively, and the purchases from our largest supplier accounted for approximately 23.7%, 30.8% and 30.9% of our total purchases for the same periods.
Summary · 第 5 页
Our Directors believe our stable relationships with our suppliers will continue to ensure a sufficient and reliable supply of raw materials and components, while also helping to mitigate fluctuations in raw materials going forward.
Business · 第 127 页
For each type of major raw material, we ensure there are generally two to three approved suppliers.
广东融泰药业股份有限公司Guangdong Rong Tai Pharmaceutical Co., Ltd.
前五大供应商采购占比51.8%至70.0%
In 2023, 2024 and 2025, our top five suppliers accounted for 70.0%, 62.0% and 51.8% of our purchases, and purchases from our largest supplier alone accounted for 26.3%, 16.1% and 14.7% of our total purchases during each of these years.
Summary · 第 5 页
According to Frost & Sullivan, Supplier A is the Chinese arm of one of the world’s largest pharmaceutical companies, and given its leading position in the out-of-hospital pharmaceutical market, it is not uncommon for marketing and supply chain solution providers (particularly those leading providers) in the market to have a relatively high level of reliance on Supplier A.
Business · 第 164 页
Considering the above, we believe the risk that Supplier A will terminate or otherwise materially and adversely change our cooperation relationship is low.
Purchase from our top five suppliers in each year/period during the Track Record Period accounted for 45.8%, 42.6% and 35.1% of our total purchases in 2023, 2024 and 2025, respectively, and purchase from our largest supplier in each year during the Track Record Period accounted for 14.2%, 10.1% and 12.4% of our total purchases in the same periods, respectively.
Business · 第 157 页
In the second half of 2024, Supplier B ceased its pharmaceutical supply business.
Business · 第 160 页
We believe centralized procurement allows us to achieve economies of scale and to better control the quality of our procurements.
上海观安信息技术股份有限公司SHANGHAI GUAN AN INFORMATION TECHNOLOGY CO., LTD.
前五大供应商采购占比升至33.2%
In 2023, 2024 and 2025, purchases from our five largest suppliers in each year during the Track Record Period amounted to RMB46.3 million, RMB85.5 million and RMB88.1 million, representing 18.5%, 31.0%, 33.2% of our total purchases, respectively.
Summary · 第 4 页
Although we engage multiple third party service providers, in certain regions our reliance on a limited number of providers may give rise to concentration risk.
Business · 第 152 页
To mitigate such risk, we regularly assess the provider mix within each service region, review their financial standing and maintain standby providers that can be mobilized when needed.
Charges from our largest supplier in 2023, 2024 and 2025 accounted for 32.2%, 29.7% and 44.8%, respectively, of our total purchase amount during same periods.
Summary · 第 4 页
Charges from our five largest suppliers in 2023, 2024 and 2025 accounted for 60.0%, 54.3% and 84.0%, respectively, of our total purchase amount during same periods.
Summary · 第 4 页
During the Track Record Period, our supplier concentration was primarily attributable to our selective procurement strategy, under which we prioritized leading OEMs and key component suppliers with proven track records in product quality, reliability and system integration to support the performance and stability requirements of our solutions.