Exhibit,Title,Label,Value,Unit,Method / note,Sources
1,China industrial data: earnings and working capital diverged,Profit growth,15.5,"Year-on-year change, %","NBS above-designated-size industrial enterprises. Flows and balance-sheet stocks have different reference periods; chart compares growth signals, not identical accounting quantities.",https://www.stats.gov.cn/sj/zxfbhjd/202610/t20261027_1965697.html
1,China industrial data: earnings and working capital diverged,Revenue growth,6.6,"Year-on-year change, %","NBS above-designated-size industrial enterprises. Flows and balance-sheet stocks have different reference periods; chart compares growth signals, not identical accounting quantities.",https://www.stats.gov.cn/sj/zxfbhjd/202610/t20261027_1965697.html
1,China industrial data: earnings and working capital diverged,Receivables growth,10.0,"Year-on-year change, %","NBS above-designated-size industrial enterprises. Flows and balance-sheet stocks have different reference periods; chart compares growth signals, not identical accounting quantities.",https://www.stats.gov.cn/sj/zxfbhjd/202610/t20261027_1965697.html
1,China industrial data: earnings and working capital diverged,Finished-goods stock,11.6,"Year-on-year change, %","NBS above-designated-size industrial enterprises. Flows and balance-sheet stocks have different reference periods; chart compares growth signals, not identical accounting quantities.",https://www.stats.gov.cn/sj/zxfbhjd/202610/t20261027_1965697.html
2,Hypothetical price-cut sensitivity at a manufacturer,Base case,500000,USD annual operating profit,"Illustrative annual revenue USD 10m; variable costs USD 8m; fixed costs USD 1.5m; constant volume and mix. Excludes tax, interest and working capital. No actual supplier is represented.",
2,Hypothetical price-cut sensitivity at a manufacturer,"5% cut, no savings",0,USD annual operating profit,"Illustrative annual revenue USD 10m; variable costs USD 8m; fixed costs USD 1.5m; constant volume and mix. Excludes tax, interest and working capital. No actual supplier is represented.",
2,Hypothetical price-cut sensitivity at a manufacturer,5% cut + cost savings,250000,USD annual operating profit,"Illustrative annual revenue USD 10m; variable costs USD 8m; fixed costs USD 1.5m; constant volume and mix. Excludes tax, interest and working capital. No actual supplier is represented.",
3,Hypothetical cash absorbed by slower customer payment,5 extra days,164384,"Additional cash tied up, USD",Illustrative supplier annual credit sales USD 12m. Incremental receivables = sales × additional days / 365. Rounded to nearest dollar; not a forecast of default or a real supplier balance.,
3,Hypothetical cash absorbed by slower customer payment,10 extra days,328767,"Additional cash tied up, USD",Illustrative supplier annual credit sales USD 12m. Incremental receivables = sales × additional days / 365. Rounded to nearest dollar; not a forecast of default or a real supplier balance.,
3,Hypothetical cash absorbed by slower customer payment,15 extra days,493151,"Additional cash tied up, USD",Illustrative supplier annual credit sales USD 12m. Incremental receivables = sales × additional days / 365. Rounded to nearest dollar; not a forecast of default or a real supplier balance.,
3,Hypothetical cash absorbed by slower customer payment,30 extra days,986301,"Additional cash tied up, USD",Illustrative supplier annual credit sales USD 12m. Incremental receivables = sales × additional days / 365. Rounded to nearest dollar; not a forecast of default or a real supplier balance.,
4,Illustrative advance-payment loss scenarios,Order value,"USD 100,000",,"Hypothetical scenario analysis; no default probability is assigned. Recovery requires legal and practical access plus usable assets, not merely an accounting value.",
4,Illustrative advance-payment loss scenarios,Deposit at 40%,"USD 40,000",,"Hypothetical scenario analysis; no default probability is assigned. Recovery requires legal and practical access plus usable assets, not merely an accounting value.",
4,Illustrative advance-payment loss scenarios,No usable recovery: direct cash loss,"USD 40,000",,"Hypothetical scenario analysis; no default probability is assigned. Recovery requires legal and practical access plus usable assets, not merely an accounting value.",
4,Illustrative advance-payment loss scenarios,"USD 20,000 usable recovery: direct cash loss","USD 20,000",,"Hypothetical scenario analysis; no default probability is assigned. Recovery requires legal and practical access plus usable assets, not merely an accounting value.",
4,Illustrative advance-payment loss scenarios,Excluded from both cases,"Recovery expense, replacement premium and delay loss",,"Hypothetical scenario analysis; no default probability is assigned. Recovery requires legal and practical access plus usable assets, not merely an accounting value.",
5,Diligence findings should change the order,Unreconciled financial information,Limit unsecured exposure; seek alternative evidence,,"BaiyX analytical controls, not a legal credit rating or a universal supplier-approval standard.",
5,Diligence findings should change the order,Receivables ageing deteriorates,Review funding for the specific production schedule,,"BaiyX analytical controls, not a legal credit rating or a universal supplier-approval standard.",
5,Diligence findings should change the order,Critical process moves without notice,Pause technical release and requalify the change,,"BaiyX analytical controls, not a legal credit rating or a universal supplier-approval standard.",
5,Diligence findings should change the order,Large advance with no identifiable progress,Restructure milestones or reduce initial order,,"BaiyX analytical controls, not a legal credit rating or a universal supplier-approval standard.",
5,Diligence findings should change the order,Shared sub-supplier across two vendors,Treat as correlated supply until independence is verified,,"BaiyX analytical controls, not a legal credit rating or a universal supplier-approval standard.",
5,Diligence findings should change the order,Late delivery and urgent cash requests recur,Activate continuity plan and senior review,,"BaiyX analytical controls, not a legal credit rating or a universal supplier-approval standard.",