v3.25.4
Related party transactions
12 Months Ended
Dec. 31, 2024
Related party transactions [Abstract]  
Related party transactions

32. Related party transactions

 

(a) Relationship with related parties

 

Name of related parties   Relationship with the Group
Newlink   Controlling Shareholder
Shenzhen Yuanwanghechu Technology Co., Ltd.   Significantly influenced by the Controlling Shareholder
Huzhou Zhidianlaile New Energy Technology Co., Ltd.   Significantly influenced by the Group

 

(b) Contribution from Controlling Shareholder

 

During the year ended December 31, 2024, Newlink paid a total of RMB24.9 million (2023: RMB65.2 million) on behalf of the Group, including (i) RMB7.3 million (2023: RMB42.6 million) of payroll and non-payroll labor expense; (ii) RMB2.5 million (2023: RMB3.2 million) of rental fees; and (iii) RMB15.1 million (2023: RMB19.4 million) of other expenses, which were reflected in the consolidated statements of profit or loss and other comprehensive loss.

 

(c) Share-based compensation from controlling shareholder ESOP

 

Newlink granted share options under Newlink 2020 Share Incentive Plan to certain employees associated with the Group’s charging services business, who were subsequently transferred to the Group. For the years ended December 31, 2023 and 2024, share-based compensation expense was debited to profit or loss for RMB5.3 million and credited to profit or loss for RMB0.8 million, with a corresponding increase and decrease in additional paid-in capital, respectively. See Note 28 for further details.

 

(d) Other transactions with related parties

 

The following table provides the amount of energy solution revenues including discontinued operations arising from the transactions entered into with related parties in the ordinary course of the Group’s business during the years indicated:

 

   Year ended December 31, 
   2022   2023   2024 
   RMB’000   RMB’000   RMB’000 
             
Shenzhen Yuanwanghechu Technology Co., Ltd.   —    74,460    400 
Huzhou Zhidianlaile New Energy Technology Co., Ltd.   —    690    65 
    —    75,150    465 

(e) Balances with related parties

 

   as of December 31, 
   2023   2024 
   RMB’000   RMB’000 
Included in trade receivables        
Shenzhen Yuanwanghechu Technology Co., Ltd.   7,711    — 
Huzhou Zhidianlaile New Energy Technology Co., Ltd.   27    — 
Loss allowance   (335)   — 
    7,403    — 
Included in contract assets          
Shenzhen Yuanwanghechu Technology Co., Ltd.   26,125    — 
Included in amount due from related parties (Note 10)          
Newlink   18,838    — 
Shenzhen Yuanwanghechu Technology Co., Ltd.   8,865    1,206 
    27,703    1,206 
Included in amount due to related parties as other payables and accruals          
Newlink   —    (3,284)
Huzhou Zhidianlaile New Energy Technology Co., Ltd.   —    (69)
    —    (3,353)

 

(f) Key management personal compensation

 

The following table sets forth the compensation information of the Group’s directors and executive officers for the years ended December 31, 2022, 2023 and 2024:

 

   Year ended December 31, 
   2022   2023   2024 
   RMB’000   RMB’000   RMB’000 
Short-term employee benefits   2,694    7,468    4,488 
Share-based compensation   123,383    229,542    23,034 
    126,077    237,010    27,522