| Related Parties |
The principal related parties with which the Group had transactions during the years presented are as follows:
|
|
|
| Name of Entity or Individual |
|
Relationship with the Company |
| Mr. Xiaopeng He |
|
Principal Shareholder of the Company, Chairman of the Board
and Chief Executive Officer |
| Mr. Hongdi Brian Gu |
|
Honorary Vice Chairman of the Board and President |
| Mr. Tao He (2) |
|
Former Senior Vice President |
| HT Flying Car Inc. |
|
A Company Significantly Influenced by the Principal Shareholder |
| HT Flying Car (Hong Kong) Limited |
|
A Company Significantly Influenced by the Principal Shareholder |
| Guangzhou Huitian Aerospace Technology Co., Ltd.
(“Guangzhou Huitian”) |
|
A Company Significantly Influenced by the Principal Shareholder |
Guangdong Huitian Aerospace Technology Co., Ltd. (“Guangdong Huitian”) |
|
A Company Significantly Influenced by the Principal Shareholder |
| Guangzhou Huitian Flying Car Manufacturing Co., Ltd. |
|
A Company Significantly Influenced by the Principal Shareholder |
| Guangzhou Huitian Manufacturing Co., Ltd. |
|
A Company Significantly Influenced by the Principal Shareholder |
| Foshan Huitian Aviation Technology Co., Ltd. |
|
A Company Significantly Influenced by the Principal Shareholder |
| Rockets Capital L.P. (1) |
|
A Partnership Significantly Influenced by the Company |
| Guangzhou Xuetao (2) |
|
A Company Controlled by the Company Secretary |
| |
(1) |
As of December 31, 2025, the principal shareholder and the President are the shareholders of the General Partner of Rockets Capital L.P. and the President is entitled to appoint one out of three directors of the General Partner. The Group, together with its related parties, can exercise significant influence over Rockets Capital L.P. (Note 13(iv)). |
| |
(2) |
Mr. Tao He joined the Company as senior vice president in January 2015 and was appointed as director in March 2020. In July 2021, he resigned from the directorship with effect from the Global Offering. Since June 2022, he established and jointly controlled Guangzhou Xuetao with 50% equity interests. He had resigned from senior vice president since April 2023. The Company Secretary of the Group controlled Guangzhou Xuetao with 100% equity interests after Mr. Tao He withdrew his shareholding in Guangzhou Xuetao in February 2024. |
| |
(3) |
Major transactions with related parties: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest expenses on payable due to a company jointly controlled by former senior vice president |
|
|
2,402 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Provision of operational support services to companies significantly influenced by Principal Shareholder |
|
|
14,823 |
|
|
|
39,863 |
|
|
|
89,624 |
|
| Provision of leasing services to companies significantly influenced by Principal Shareholder |
|
|
306 |
|
|
|
199 |
|
|
|
1,110 |
|
| Sales of property, plant and equipment to companies significantly influenced by Principal Shareholder |
|
|
— |
|
|
|
— |
|
|
|
4,248 |
|
| Sale of goods to companies significantly influenced by Principal Shareholder |
|
|
1,172 |
|
|
|
2,609 |
|
|
|
11,435 |
|
| Purchase of goods from companies significantly influenced by Principal Shareholder |
|
|
— |
|
|
|
— |
|
|
|
125 |
|
| Purchase of services from companies significantly influenced by Principal Shareholder |
|
|
1,068 |
|
|
|
9,672 |
|
|
|
13,289 |
|
| |
(4) |
Amounts due from related parties: |
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
Receivables for operation support service to companies significantly influenced by Principal Shareholder |
|
|
41,889 |
|
|
|
95,948 |
|
Receivables for sales of goods to companies significantly influenced by Principal Shareholder |
|
|
1,825 |
|
|
|
5,337 |
|
Receivables for sales of property, plant and equipment to companies significantly influenced by Principal Shareholder |
|
|
— |
|
|
|
934 |
|
|
|
|
|
|
|
|
|
|
Total |
|
|
43,714 |
|
|
|
102,219 |
|
|
|
|
|
|
|
|
|
|
| |
(5) |
Amounts due to related parties: |
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
Payables from companies significantly influenced by Principal Shareholder |
|
|
9,362 |
|
|
|
1,064 |
|
Advances from companies significantly influenced by Principal Shareholder |
|
|
2 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
Total |
|
|
9,364 |
|
|
|
1,064 |
|
|
|
|
|
|
|
|
|
|
| |
(6) |
Investment Commitment: |
|
|
|
|
|
|
|
|
|
| |
|
|
|
| |
|
|
|
|
|
|
Investment commitment to a partnership significantly influenced by the Company (Note 27(a)) |
|
|
404,846 |
|
|
|
293,480 |
|
|