| Material related party transactions |
24Material related party transactions (a)Name and relationship with related parties | | | Name of related parties | | Relationship with the Group | Dr. Tony Xu Han | | Founder, Chairman, Executive Director and CEO | Mr. Yan Li | | Co-founder, Executive Director and Chief Technology Officer | | | | Ms. Jennifer Xuan Li | | Chief Financial Officer and Head of International | Mr. Qingxiong Yang | | Vice President | Mr. Jean-François Salles | | Non-Executive Director | Mr. Kazuriho Doi | | Non-Executive Director | Mr. David Tong Zhang | | Independent Director | Ms. Huiping Yan | | Independent Director | Mr. Grégoire de Franqueville | | Former Non-Executive Director | Mr. Takao Asami | | Former Non-Executive Director | Mr. Yibing Xu | | Former Non-Executive Director | Mr. Jingzhao Wan | | Former Non-Executive Director | Mr. Ziping Kuang | | Former Non-Executive Director | Mohamed Albadrsharif Shaikh Abubaker Alshateri | | Former Non-Executive Director | Alliance Automotive R&D (Shanghai) Co., Ltd., Alliance Ventures, B.V. and Nissan Mobility Service Co., Ltd (collectively “Alliance affiliates”) | | Affiliate of a shareholder | Zhengzhou Yutong Bus Co., Ltd., Zhengzhou Yutong Heavy Industry Co., Ltd., Yutong Heavy Equipment Co., Ltd., Zhengzhou Yutong Mining Equipment Co., Ltd, and Ourland Environmental Technical Ltd (collectively “Yutong affiliates”) | | Affiliate of a shareholder | Guangzhou Yuji Technology Co., Ltd. and its subsidiaries (collectively “Yuji affiliates”) | | Entity controlled by a close family member of Dr. Tony Xu Han |
(b)Key management personnel compensation | | | | | | | For the six months ended | | | June 30, | | | 2024 | | 2025 | | | RMB’000 | | RMB’000 | Short-term employment benefits (excluding discretionary bonus) | | 8,037 | | 8,972 | Discretionary bonus | | 5,470 | | 4,376 | Contributions to defined contribution retirement plans | | 135 | | 109 | Share-based compensation expenses | | 165,528 | | 40,047 | | | 179,170 | | 53,504 |
24 Material related party transactions (Continued) (c)Other transactions with related parties In addition to the transactions disclosed elsewhere in these financial statements, the Group entered into the following continuing material related party transactions during the periods presented: | | | | | | | For the six months ended | | | June 30, | | | 2024 | | 2025 | | | RMB’000 | | RMB’000 | Sales of goods to: | | | | | Yutong affiliates | | — | | 92 | Alliance affiliates | | 2,620 | | — | | | 2,620 | | 92 | Service rendered to: | | | | | Alliance affiliates | | 6,478 | | 6,058 | Yutong affiliates | | 6,660 | | 2,107 | | | 13,138 | | 8,165 | Purchases of goods or services from: | | | | | Yutong affiliates* | | 53,638 | | 13,366 | Yuji affiliates | | 65,557 | | 32,379 | | | 119,195 | | 45,745 | Payments made on behalf of customers to: | | | | | Yuji affiliates | | 41,500 | | 2,734 | | | 41,500 | | 2,734 | Disposal of property and equipment to: | | | | | Yuji affiliates | | — | | 1,431 | | | — | | 1,431 |
* | The Group sold and recognized goods purchased from Yutong affiliates for business operation in cost of goods sold in the amount of RMB6.1 million and RMB7.3 million for the six months ended June 30, 2024 and 2025, respectively. |
24 Material related party transactions (Continued) (d) Balances with related parties | | | | | | | As of December 31, | | As of June 30, | | | 2024 | | 2025 | | | RMB’000 | | RMB’000 | Trade related | | | | | Trade receivables from: | | | | | Alliance affiliates | | 3,944 | | 145 | Yutong affiliates | | 11,880 | | 11,222 | Less: loss allowance | | (2,707) | | (2,395) | Trade receivables, net of loss allowance | | 13,117 | | 8,972 | Prepayments to: | | | | | Yuji affiliates | | — | | 18,500 | Yutong affiliates | | 13,501 | | 23,445 | Prepayments to and amounts due from related parties | | 26,618 | | 50,917 | Trade related | | | | | Amounts due to related parties | | | | | Trade and other payables to: | | | | | Yutong affiliates | | 2,185 | | 8,070 | Yuji affiliates | | 7,265 | | 6,586 | | | 9,450 | | 14,656 |
As of December 31, 2024 and June 30, 2025, amounts due from related parties are unsecured, interest-free and repayable on demand.
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