MATERIAL RELATED PARTY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2026

MATERIAL RELATED PARTY TRANSACTIONS

Summary of name and relationship with related parties

(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
Dr. Yan Li		Co-founder, Executive Director and Chief Technology Officer
Dr. Hua Zhong		Senior Vice President
Ms. Jennifer Xuan Li		Chief Financial Officer and Head of International
Mr. Qingxiong Yang		Vice President
Mr. Jean-François Salles		Non-Executive Director
Mr. Ichijo Futakawa (appointed on April 21, 2026)		Non-Executive Director
Mr. David Zhang (張彤)		Independent Director
Ms. Huiping Yan		Independent Director
Dr. Tony Fan-cheong Chan		Independent Director
Mr. Grégoire de Franqueville (resigned on March 5, 2025)		Former Non-Executive Director
Mr. Takao Asami (resigned on March 24, 2025)		Former Non-Executive Director
Mr. Kazuhiro Doi (resigned on March 31, 2026)		Former Non-Executive Director
Alliance Automotive R&D (Shanghai) Co., Ltd., Alliance Ventures, B.V. and Nissan Mobility Service Co., Ltd. (collectively “Alliance affiliates”)		Affiliates 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

Summary of other transactions with related parties

(b)Other transactions with related parties

In addition to the transactions disclosed elsewhere in this report, the Group entered into the following continuing material related party transactions during the periods presented:


		For the six months ended
		June 30,
		2025		2026
		RMB’000		RMB’000
Sales of goods to:
Alliance affiliates		—		1,445

Service rendered to:
Alliance affiliates		6,058		5,320

Purchases of services from:
Yuji affiliates		32,379		41,920

Payments made on behalf of customers to:
Yuji affiliates		2,734		—

Disposal of property and equipment to:
Yuji affiliates		1,431		—

Summary of balances with related parties

(c) Balances with related parties


		As of December 31,		As of June 30,
		2025		2026
		RMB’000		RMB’000
Trade related
Trade receivables from:
Alliance affiliates		590		4,369
Less: loss allowance		(16)		(95)
Trade receivables, net of loss allowance		574		4,274
Prepayments to:
Yuji affiliates		8,436		13,943
Prepayments to and amounts due from related parties		9,010		18,217
Trade related
Amounts due to related parties
Yuji affiliates		1,949		7,910
		1,949		7,910