The increase in our prepayments, deposits and other assets from Rp529,282 million as of December 31, 2024 to Rp996,009 million as of December 31, 2025 were primarily due to (i) the increase in program advances, mainly for television production, original content and film production, prepayment for the broadcasting rights for the 2028 UEFA European Football Championship Euro 2028, as well as other operational advances, (ii) the increase in both current and non-current deposits and other receivables, primarily attributable to short term loans to our immediate holding company and long-term loans to third parties.
Financial Information · 第 217 页
The balances of deposits and other assets from third parties as of December 31, 2024 and 2025 include amounts due from third parties of Rp151,300 million and Rp201,000 million, respectively, that bear interest at 7.5% per annum and repayable in 2027.
Financial Information · 第 218 页
We applied for a loss rate of 35% for certain deposits and other assets from third parties for the year December 31, 2024. As the balances are secured by collateral since 2025, the respective impairment has been reversed during the year ended December 31, 2025.
The prepayments and other receivables increased to RMB363.3 million as of December 31, 2025, primarily due to our prepayments for brand partners’ products and prepaid promotion expenses to e-commerce platforms.
Financial Information · 第 205 页
As of February 28, 2026, approximately RMB178.7 million, or 47.7% of our prepayments and other receivables outstanding as of December 31, 2025, had been subsequently settled.
Our prepayments, deposits and other receivables increased by 46.8% from RMB4,915.4 million as of December 31, 2024 to RMB7,215.4 million as of December 31, 2025, primarily due to (i) an increase in prepayments reflecting the increased purchase of raw materials to support our business expansion, and (ii) an increase in deposits and other receivables following the disposal of a subsidiary, with intergroup receivables related to this subsidiary reclassified as external receivables upon its disposal.
Financial Information · 第 219 页
As of February 28, 2026, RMB2,755.8 million, or 38.2% of our prepayments, deposits and other receivables as of December 31, 2025, had been settled.
(i) a substantial increase in prepayment for goods in relation to a change in payment arrangement with certain major suppliers for us to place wafer fabrication orders through the subsidiary of Amlogic Holdings Ltd. in order to ensure supply chain stability.
Financial Information · 第 233 页
(ii) an increase in prepayment for acquisition of equity interests in Xinmai Micro in September 2025.
Financial Information · 第 233 页
As of February 28, 2026, RMB325.3 million, or approximately 58.8%, of our prepayments as of December 31, 2025 had been subsequently settled.
This accounting treatment has resulted in a substantial increase in prepayments to suppliers in 2023 and 2024, as we launched this business line in 2023.
Financial Information · 第 210 页
Our prepayments to suppliers increased from RMB211.8 million as of December 31, 2023 to RMB259.1 million as of December 31, 2024, primarily reflecting the growth of our AI computing technical services business.
Financial Information · 第 210 页
Our prepayments to suppliers decreased from RMB259.1 million as of December 31, 2024 to RMB22.0 million as of December 31, 2025, primarily because we no longer provided procurement agency service under our AI computing technical services business, and recorded no such prepayments since 2025.
Our other receivables increased from RMB111.0 million as of December 31, 2023 to RMB209.8 million as of December 31, 2024, and further increased to RMB371.0 million as of December 31, 2025, primarily due to a continued increase in VAT recoverable driven by increased procurement of equipment, materials and construction services, as well as an increase in advances to suppliers, as we scaled up our production capacity.
Our prepayments and other receivables increased by 101.5% from RMB180.1 million as of December 31, 2024 to RMB361.0 million as of December 31, 2025, primarily due to (i) an increase in prepayments, primarily due to an increase in procurement, and (ii) an increase in deposits, primarily due to an increase in our payments of tender guarantee and performance guarantee to a customer with the bid guarantee subsequently recovered in February 2026, partially offset by a decrease in deductible value-added tax due to the cross-period offset of input VAT credits.
Financial Information · 第 201 页
As of February 28, 2026, approximately RMB125.1 million or 34.8% of our prepayments and other receivables as of December 31, 2025 had been settled.
Our prepayments, deposits and other receivables decreased from RMB277.2 million as of December 31, 2023 to RMB242.1 million as of December 31, 2024, primarily due to (i) the decrease in prepayments of RMB18.3 million as a result of our enhanced supply chain management capabilities and strengthened bargaining power, which led to lower advance payment requirements from suppliers and (ii) the decrease in receivables from CassMall platform service of RMB14.4 million reflecting normal variations in CassMall platform's daily settlement volumes resulting from operating activities.
Financial Information · 第 219 页
Our prepayments, deposits and other receivables decreased from RMB242.1 million as of December 31, 2024 to RMB225.3 million as of December 31, 2025, primarily due to (i) the decrease in receivables from CassMall platform service of RMB16.1 million reflecting normal variations in CassMall platform's daily settlement volumes resulting from operating activities and (ii) an increase of allowance for impairment of other receivables of RMB5.6 million, as a result of increased transaction volume on the CassMall Platform and the corresponding proportional impairment provision, partially offset by an increase in prepayment for auto parts of RMB5.0 million, as a result of an increase in procurement transactions that require advance payments amid our overall business growth.
Our prepayments, other receivables and other assets then increased to RMB2,033.4 million as of December 31, 2025, primarily attributable to the rise in lithium compound prices at the time, as we procured more lithium concentrate for inventory stocking purposes, thereby resulting in higher prepayments.
Financial Information · 第 189 页
Our prepayments, other receivables and other assets primarily consisted of (i) prepayments mainly for our procurement of lithium concentrate, (ii) prepaid value-added tax, (iii) deductible input value-added tax and (iv) deposits.
Our total prepayments, deposits and other receivables then significantly increased to RMB1,280.8 million as of December 31, 2025, primarily attributable to (i) an increase of RMB366.1 million in VAT recoverable primarily arising from our procurement of equipment in 2025, and (ii) an increase of RMB129.5 million in prepayments made to third-party suppliers primarily attributable to increase in our prepayments for certain raw materials, which was in line with our business expansion.
The increase in prepayments to suppliers from approximately RMB2.2 million as at 31 December 2023 to approximately RMB40.2 million as at 31 December 2024 was primarily attributable to the expansion of our production volume to meet increased demand for baby care and feminine care products.
Financial Information · 第 241 页
The Directors confirm that all prepayments as at 31 December 2024 were fully utilised or offset against deliveries on or before 30 June 2025, and there were no long-term outstanding or unutilised balances.
Financial Information · 第 241 页
Our prepayment arrangements are consistent with our standard procurement practices and industry norms and did not involve any unusual or extended settlement period.
北京数聚智连科技股份有限公司Beijing Data Intelink Technology Co., Ltd.
预付款及其他应收款规模较大
Our prepayments and other receivables mainly consist of (i) prepayments for inventories and services, (ii) prepayments for costs incurred in connection with the Company’s A share listing attempt, (iii) prepayments for costs incurred in connection with [REDACTED] of the Company’s H share, (iv) advance payments on behalf of brand partners, (v) rebate receivable from brand partners, (vi) deposits, and (vii) deductible input VAT.
Financial Information · 第 194 页
Our prepayments and other receivables further increased to RMB270.4 million as of December 31, 2025, primarily due to (i) an increase in prepayments for inventories and services of RMB44.6 million, mainly attributable to higher prepayments for procurement related to our overseas e-commerce brand operations, (ii) an increase in deposits of RMB27.0 million paid to brand partners, partially offset by a decrease in advance payments on behalf of brand partners of RMB14.1 million.
Financial Information · 第 195 页
As of January 31, 2026, RMB66.9 million, or 24.7%, of our prepayments and other receivables as of December 31, 2025 had been subsequently settled.
Our other receivables less loss allowance increased from RMB375.9 million as of December 31, 2023 to RMB1,202.8 million as of December 31, 2024 and further to RMB1,751.3 million as of December 31, 2025, which was primarily driven by the expansion of our snack and beverage retail business and the corresponding increases in prepayments to suppliers.
Financial Information · 第 243 页
As of December 31, 2023, 2024 and 2025, the increases of our inventories were generally in line with our business expansion over time driven by our snack and beverage retail business.
Our prepayments, other receivables, and other assets increased from RMB142.5 million as of December 31, 2023 to RMB178.8 million as of December 31, 2024, primarily due to the increase in prepayments to certain suppliers for the procurement of chips and wafers to support projects in 2024, partially offset by a decrease in certificates of deposit from RMB20.1 million as of December 31, 2023 to nil as of December 31, 2024.
Financial Information · 第 181 页
As of February 28, 2026, RMB17.8 million, or 16.0% of our prepayments to suppliers as of December 31, 2025 had been subsequently recognized.
Our trade and other receivables increased from approximately RMB7.8 million as at 31 December 2023 to approximately RMB29.9 million as at 31 December 2024, and further to approximately RMB98.7 million as at 31 December 2025.
Financial Information · 第 242 页
We recorded other prepayments in the amount of approximately RMB29,000, RMB7.6 million and RMB54.4 million as at 31 December 2023, 31 December 2024 and 31 December 2025, respectively.
Financial Information · 第 242 页
Such measures include (i) pre-approval of pre-acquisition arrangements based on the estimated online traffic consumption amount and the credibility of the advertising customers; and (ii) periodic reconciliations and reviews of prepayments against actual consumption of online traffic inventory.
Our trade receivables decreased from RMB888.6 million as at 31 December 2023 to RMB800.8 million as at 31 December 2024, as we improved our overall management on trade receivables.
Financial Information · 第 182 页
Our prepayments and other receivables increased from RMB1,116.4 million as at 31 December 2023 to RMB1,575.0 million as at 31 December 2024, and further increased to RMB1,831.0 million as at 31 December 2025, primarily due to (i) the increase in other receivables related to media agency services in relation to our customers’ media account top-ups of our media agency services business; and (ii) the increase in prepayments for traffic, in line with the expansion of our integrated marketing services (iii) the increase in amounts due from payment platforms, as certain third-party payment platforms had not yet settled the relevant amounts as at 31 December 2025.
Financial Information · 第 184 页
As at 28 February 2026, RMB1,365.1 million, or 76.1%, of our other receivables related to media agency services as at 31 December 2025 had been settled.
Our prepayments, other receivables and other assets primarily consist of (i) prepayments for property, plant and equipment, which primarily represent advance payments made to equipment suppliers for the purchase of production and R&D equipment, (ii) other tax receivables, which primarily represent value-added tax recoverable in connection with our purchases of equipment and materials, (iii) prepayments to suppliers, which represent deposits paid to suppliers as advance payments, and (iv) deferred listing expenses.
Financial Information · 第 218 页
Our prepayments, other receivables and other assets increased by from RMB28.6 million as of December 31, 2023 to RMB38.5 million as of December 31, 2024 and further to RMB221.9 million as of December 31, 2025, primarily due to an increase in the non-current portion of prepayments for property, plant and equipment, mainly reflecting advance payments made for new production equipment to support our capacity expansion, partially offset by a decrease in other tax receivables, mainly due to the reduction in deductible input VAT as our revenue continuously increased.
Our prepayments and other receivables increased from RMB4.8 million as of December 31, 2024 to RMB90.1 million as of December 31, 2025, primarily driven by (i) an increase in long-term deposits receivable within one year, as a result of the reclassification of a deposit paid to a CRO from non-current to current asset, as its remaining maturity became less than one year over time, and (ii) an increase in refundable research and development payments to advance overseas clinical trials of ABP-745.
Financial Information · 第 254 页
As of January 31, 2026, RMB0.6 million, or 0.7%, of our prepayments and other receivables as of December 31, 2025 had been subsequently settled or utilized.
(i) an increase in prepayments primarily due to our procurement of computing power services for R&D needs of our iMedImage^®^ foundation model to further improve the operational efficiency of AI AutoVision^®^, and (ii) the deferred listing expenses as of September 30, 2025 in relation to the Global Offering.
Financial Information · 第 255 页
As of January 31, 2026, approximately RMB14.7 million, or 36.2%, of our prepayments, other receivables and other assets as of September 30, 2025 had been subsequently used or collected.
Our prepayments increased significantly from RMB10.2 million as of December 31, 2023 to RMB73.5 million as of December 31, 2024, mainly due to the significant increase in prepayments for equipment procurement and construction projects for our manufacturing facilities in Thailand and the technical upgrade project at our Guangzhou facility.
Financial Information · 第 208 页
As of January 31, 2026, RMB84.3 million, or 75.1% of our total prepayments, deposits and other receivables as of September 30, 2025, had been subsequently settled.