乐欣户外国际有限公司Ridge Outdoor International Limited02720.HK
贸易应收款上升并向大客户放宽信贷条款
Our trade receivables increased significantly from RMB67.3 million as of December 31, 2023 to RMB88.3 million as of December 31, 2024, primarily because (i) we had relatively high sales in late 2024 compared with the same period in 2023; and (ii) we strategically granted more favorable credit terms to major customers taking into consideration our long-term relationships.
Financial Information · 第 296 页
Our trade receivables turnover days increased from 49.4 days in 2022 to 68.0 days in 2023, primarily because in 2023, we strategically granted more favorable credit terms to major customers taking into consideration their settlement history and our long-term relationships and ongoing collaborations.
Financial Information · 第 297 页
As of November 30, 2025, approximately RMB66.3 million, or 67.4% of our trade receivables as of August 31, 2025, had been settled.
This was also reflected by a decrease in trade receivable turnover days from 377 days in 2023 to 228 days in 2024.
Financial Information · 第 377 页
Our trade receivables turnover days increased from 228 days in 2024 to 242 days in the ten months ended October 31, 2025, primarily due to an increased proportion of sales settled through installments as part of our efforts to secure orders from customers in light of the market competition.
Financial Information · 第 379 页
As of November 30, 2025, RMB469.0 million, or 11.1% of our trade receivables as of October 31, 2025, had been settled.
During the Track Record Period, our long-term trade receivables, representing outstanding installment payments due from certain customer who opted for installment payment arrangements, increased from nil as of December 31, 2022 to RMB38.1 million as of December 31, 2023, primarily due to sales to certain customer who opted for installment payment arrangements.
Financial Information · 第 311 页
We do not expect to enter into similar installment arrangements with other customers going forward.
Such extended repayment terms were typically granted to franchisees in recognition of their exceptional performance in our unified performance evaluation system.
Financial Information · 第 353 页
As of September 30, 2025, RMB7.0 million, or 100.0% of our trade receivables due from franchisees as of June 30, 2025 had been settled subsequently.
河北海伟电子新材料科技股份有限公司Hebei Haiwei Electronic New Material Technology Co., Ltd.09609.HK
应收账款周转天数高于同业
Our trade receivables turnover days during the Track Record Period were slightly longer than our industry peers, which, according to CIC, average approximately 90 days among other capacitor film manufacturers.
Financial Information · 第 278 页
One of our major customers, a well-known leading NEV company in China, usually settle their balance with us through commercial acceptance bills that mature in six months, which results in longer trade receivable turnover days; and
Financial Information · 第 278 页
As of September 30, 2025, RMB126.3 million, or 78.0% of our total trade receivables as of May 31, 2025, had been settled.
Our total trade receivables, net balances as of December 31, 2022, 2023 and December 31, 2024 and May 31, 2025 were RMB258.2 million, RMB443.3 million, RMB638.4 million and RMB743.8 million, respectively.
Financial Information · 第 289 页
For the years ended December 31, 2022, 2023 and 2024 and for the five months ended May 31, 2025, our trade receivables turnover days was 157 days, 242 days, 199 days and 254 days, respectively.
Financial Information · 第 290 页
As of the Latest Practicable Date, RMB243.0 million, representing 32.2%, of our trade receivables as of May 31, 2025 has been subsequently settled.
Although we generally specify a credit period of one month extending up to five months for major customers, in practice, some clients are provided with more flexible payment terms (typically within one year).
Financial Information · 第 406 页
The increase in trade and bills receivable turnover days from 2023 to 2024 was primarily due to the relatively lower revenue recognized in 2024, partially affected by the longer recovery period of certain clients in industry solutions business, in relation to the complex process and budget constraint of these clients.
Financial Information · 第 407 页
In the years ended December 31, 2022, 2023 and 2024 and the six months ended June 30, 2024 and 2025, we recorded net impairment losses on financial assets and contract assets of RMB26.5 million, RMB16.5 million, RMB24.3 million, RMB10.4 million and RMB17.4 million, respectively.
Our trade and bills receivables increased by 9.4% from RMB572.1 million as of December 31, 2023 to RMB626.1 million as of December 31, 2024, primarily due to relaxation of receivables management practice in light of the market conditions where certain customers had witnessed relatively sluggish external demand for their products.
Financial Information · 第 318 页
Our trade and bills receivable aging one to two years increased from RMB3.2 million as of December 31, 2023 to RMB9.2 million as of December 31, 2024 primarily due to (i) certain customers for our crayfish products with long-standing relationships are given extended credit term till end of a calendar year, and (ii) certain customers with cashflow issues are also given extended credit terms.
Financial Information · 第 318 页
RMB595.2 million, or 88.6% of our trade and bills receivables as of December 31, 2024 had been settled as of April 30, 2025.
容大合众(厦门)科技集团股份公司Rongta Technology (Xiamen) Group Co., Ltd.09881.HK
贸易应收款项及周转天数持续上升
Our trade and note receivables increased from RMB60.2 million as at 31 December 2023 to RMB66.2 million as at 31 December 2024 mainly because we offered more favourable credit terms of 120 days to certain customers for orders of certain newly launched printing equipment.
Financial Information · 第 367 页
Overdue balances are reviewed regularly and followed up by our sales and financial department.
Financial Information · 第 368 页
As at 31 March 2025, RMB49.2 million, or 75.0%, of our net trade receivables outstanding as at 31 December 2024 had been subsequently settled.
Our trade receivables increased from RMB70.4 million as of December 31, 2023 to RMB151.2 million as of September 30, 2024, mainly due to our increased sales of coffee machines to franchisees which have long credit periods.
Financial Information · 第 346 页
Our trade receivable turnover days increased to 4.7 days in the nine months ended September 30, 2024, mainly due to the longer credit period that we provide to our franchisees for their purchases of equipment from us.
Financial Information · 第 347 页
As of January 15, 2025, approximately RMB139.9 million, or 92.5%, of our trade receivables as of September 30, 2024 had been settled.
Our trade and bills receivables increased by 15.6% from RMB410.3 million as of December 31, 2021 to RMB474.5 million as of December 31, 2022.
Financial Information · 第 535 页
Our trade receivables turnover days increased from 90 days in 2021 to 122 days in 2022 because of an increase in our trade receivables from sales of Guyoudao, a medical device product, which generally have a longer credit period than our drug products.
Financial Information · 第 537 页
According to our aging analysis of trade receivables and financial assets at fair value through other comprehensive income, there was an increase from RMB4.4 million at the end of 2023 to RMB44.8 million as of June 30, 2024, within the one to two-year range.
Our trade and notes receivables increased from RMB191.2 million as of December 31, 2022 to RMB285.1 million as of December 31, 2023 and further to RMB305.2 million as of March 31, 2024, primarily due to the expansion of our business and the increase in our revenue, partially attributable to the increase in the proportion of revenue from the Kodo business to which our Company granted a slightly longer credit period.
Financial Information · 第 416 页
Our trade and notes receivables turnover days increased from 71 days in 2023 to 84 days in the three months ended March 31, 2024, primarily due to our business expansion and the increase in contribution from our Kodo business which had a slightly longer collection period.
Financial Information · 第 418 页
As of the Latest Practicable Date, RMB212.0 million, or 63.6% of our total trade receivables before impairment as of March 31, 2024, had been subsequently settled.
As of December 31, 2021, 2022 and 2023, our trade receivables amounted to RMB86.3 million, RMB127.0 million and RMB161.5 million, respectively.
Financial Information · 第 401 页
Our average trade receivables turnover days increased from 60.6 days in 2021 to 84.1 days in 2022. It increased to 92.9 days in 2023.
Financial Information · 第 402 页
Therefore, our Directors are in the opinion that we are not expected to be subject to any material risk exposure to credit impairment and there is no recoverability issue for our trade receivables.
Our trade receivables increased from RMB243.2 million as of December 31, 2021 to RMB461.9 million as of December 31, 2022.
Financial Information · 第 387 页
Our trade receivable turnover days increased from 182.2 days in 2021 to 320.3 days in 2022 primarily due to the temporary extension of credit terms to certain customers to help them cope with the lockdowns imposed due to COVID-19.
Financial Information · 第 388 页
We have stepped up our collection efforts for 2023 to reduce the trade receivable turnover days to 222.5 days.
绿源集团控股(开曼)有限公司Luyuan Group Holding (Cayman) Limited02451.HK
向经销商授出信贷额度及贷款并出现违约
During the Track Record Period, we did not offer credit terms (defined as a specified number of days after which full payment becomes due) to our offline distributors in mainland China.
Business · 第 252 页
In 2020, 2021 and 2022 and the four months ended April 30, 2023, we provided loans to a total of 31 distributors and sub-distributors, with an aggregate loan amount of approximately RMB6.8 million, RMB15.9 million, nil and nil, respectively.
Business · 第 257 页
Full provision has been made with respect to Distributor II as of April 30, 2023.
Our Group’s trade receivables amounted to approximately HK$63.4 million, HK$78.8 million and HK$71.5 million as at 31 December 2020, 2021 and 2022 respectively, which mainly represented the unsettled amount under invoices for digital advertising services.
Financial Information · 第 258 页
Our trade receivables turnover days of were around 124.3 days, 113.3 and 122.4 days for the years ended 31 December 2020, 2021 and 2022 respectively.
Financial Information · 第 259 页
Nevertheless, our Directors are of the view that there are no material collectability issues with the outstanding trade receivables, in particular for those aged over 90 days, as at each period end during the Track Record Period and as at the Latest Practicable Date, considering (i) the trade receivables balances were generally due from clients with ongoing and/or potential future business relationship with our Group including 4A’s advertising agencies which are top customers of the Group during the Track Record Period with over 10 years business relationship with our Group and which generally take relatively longer time to settle the trade receivables; (ii) there were no material disagreement or disputes with our clients on trade receivables; and (iii) these clients had been making continuous payments of the outstanding invoices to our Group during the Track Record Period.
巨星传奇集团有限公司Star Plus Legend Holdings Limited06683.HK
贸易应收账款上升及授信期长达两年
Our total trade receivables after provision for impairment (including both current and non-current portion) was RMB252,000, RMB40.2 million, RMB26.1 million and RMB38.1 million as of December 31, 2019, 2020, 2021 and 2022, respectively.
Financial Information · 第 443 页
The typical credit period granted to our debtors is generally ranging from five days to two years.
Financial Information · 第 444 页
Our trade receivables increased from RMB26.1 million as of December 31, 2021 to RMB38.1 million as of December 31, 2022, which was mainly attributable to our IP programs broadcasted in the fourth quarter of 2022, including (i) amounts receivable from Customer H Group of RMB14.2 million in relation to two World-Cup related music and variety programs; and (ii) amounts receivable from Customer C Group of RMB9.0 million in relation to an online music show centered around Mr. Jay Chou and a promotional video for J-Style Trip season two and the new music album of Mr. Jay Chou.
Our trade receivables turnover days increased from 71 days for FY2020 to 87 days for FY2021, mainly because when we renewed our framework agreement with Customer E in June 2020, we extended our credit period granted to Customer E from 126 days to 186 days.
Financial Information · 第 372 页
Our trade receivables turnover days further increased from 87 days for FY2021 to 102 days for FY2022, primarily due to the relatively slower settlement by certain of our customers.
Financial Information · 第 372 页
As at 28 February 2023, RMB186.3 million or 53.8% of the outstanding balance of our trade receivables as at 31 December 2022 had been settled.