Hong Kong IPO disclosure precedents · 52 companies, 52 items
Disclosures of capacity utilisation that is persistently low or very low across lines or plants, including where low output fails to dilute fixed costs and pressures gross margins.
In 2023, 2024 and the three months ended March 31, 2025, we manufactured 1.2 million, 1.8 million and nil doses of quadrivalent subunit influenza vaccine, representing a utilization rate of 30.2%, 45.8% and nil, respectively.
Business · p. 304
The utilization rate of our rabies vaccine production line and pneumococcal vaccine production line was less than 0.1% during each year/period of the Track Record Period, primarily because our rabies vaccine candidate, PPSV23 candidate and PCV24 candidate have not been commercialized and we have not commenced large-scale production of such candidates.
Business · p. 304
Therefore, we expect our First Influenza Vaccine Production Line to reach full capacity during the peak season in 2027, necessitating the use of our Second Influenza Vaccine Production Line.
Therefore, the production efficiency in our Xizang Plant was hindered during the Track Record Period, and we had a low utilisation rate during the Track Record Period.
Business · p. 198
Considering that the demand of food-grade glycine would increase where industrial-grade glycine is a raw material of food-grade glycine, and that the demand for industrial-grade glycine would also increase, in June 2024, we began to utilise calcium carbonate, which is alkaline in nature, to neutralise hydrochloric acid.
Business · p. 198
In the second and third quarter of 2023, we encountered difficulties in importing raw materials for our production of food-grade glycine due to the delay of the renewal of B2 Import Approval Licence, which was caused by our change of agent whom did not assist us in renewing the licence on time.
During the Track Record Period, our maximum annual/half-year production capacity gradually increased as we established new production facilities in order to expand our geographical reach in the PRC.
Business · p. 236
Although some of our production facilities have individually exceeded its permitted level of production for certain products, the overall utilisation rate for our production facilities was still relatively low and demonstrated a general decreasing trend throughout the Track Record Period
During this initial ramp-up period, the production volume reached approximately 55,000 units, resulting in a utilization rate of 34.2% for 2022.
Business · p. 264
The production utilization rate at our Bao'an Production Base was relatively low, mainly because most of our solutions delivered in the form of hardware were mainly manufactured by our contract manufacturers during the Track Record Period and we were generally not allowed to change the production sites without relevant customers' consents.
While the entire production process for SR2X Series and Vision Jet aircraft is approximately 51 and 98 days, respectively, in 2021, 2022 and 2023, our average production rate for SR2X series was 10.3, 11.4 and 13.0 aircraft per week, and for Vision Jet 1.8, 1.9 and 2.0 aircraft per week, respectively.
Business · p. 242
Our production capacity (weekly output), actual units produced (average weekly output) and utilization rate for the SR2X Series aircraft for the five months ended May 31, 2024 was 14.0, 10.9 and 78%, respectively, as compared to 14.0, 12.1 and 86%, respectively, for the five months ended May 31, 2023.
Summary · p. 23
We expect that our production capacity will increase by approximately 12 to 60 aircraft per year by the end of 2025 and by 37 to 100 aircraft by the end of 2026 compared to 2023 production levels.
For the years ended 31 December 2022 and 2023, the utilisation rates were approximately 52.5% and 40.9% for our precision machining and approximately 78.3% and 118.6% for our precision welding, respectively at our Singapore Factory and the utilisation rates were approximately 46.2% and 48.4%, respectively for our precision machining at our Malaysia Factory.
Business · p. 204
Our production facilities for precision machining were not fully utilised during the Track Record Period, primarily due to limited resources for procurement of raw materials and recruitment of skilled workers to maximise the machine hours in operation.
Business · p. 204
Therefore, our Directors believe that we have spare capacity to serve other existing customers or new customers subject to the availability of working capital and skilled workers.
This lump-sum and all-or-nothing basis of charging requires our Group to allocate and schedule the traffic flow in order to avoid idling capacity.
Summary · p. 1
Thus, we may run the risk of idling bandwidth capacity if our clients’ demand falls short of our fixed capacity.
Business · p. 194
In order to improve bandwidth utilisation efficiency for the purpose of reducing our Group’s overall cost, we installed a sophisticated traffic-scheduling equipment in the fourth quarter of 2021, which has improved our packet port bandwidth utilisation rate.
The fill rate of LCD screen increased from approximately 17% in 2022 to approximately 27% in 2023, reflecting the improved economic efficiency and operational capacity of our vending machines.
Business · p. 278
The redundancy rates of our vending machines in 2021, 2022, and 2023 were approximately 14.0%, 14.2%, and 14.7%, respectively.
With production of 15 batches in 2023, the utilization rate of our Taizhou Manufacturing Facility was 37.5%, including the manufacturing of our own drug candidates under development (11 batches, or 27.5% of our manufacturing capacity), the commercial scale production of QX001S (2 batches, or 5.0% of our manufacturing capacity) and CDMO services provided to Zhongmei Huadong (2 batches, or 5.0% of our manufacturing capacity) pursuant to relevant service contract.
Business · p. 365
Additionally, we have successfully developed a new drug substance upstream process, which starts a production run with high cell-density and large volume working cell bank, and therefore could significantly shorten the production time required for each batch, improve capacity utilization and lower unit manufacturing costs.
Business · p. 365
With the utilization rate of our manufacturing facility for 2023 at 37.5% (taking into account the manufacturing of our own drug candidates under development, the commercial scale production of QX001S and CDMO services provided to Zhongmei Huadong pursuant to relevant service contract), we are able to provide CDMO services to external parties as a measure to improve the utilization rate of our spare manufacturing capacity on the premise of ensuring the production plans of our own products.
Separately, as we expand our production capacity, we typically experience a production ramp-up period before we can reach the optimal utilization rate. During ramp-up period, we would record higher unit manufacturing and direct labor costs.
Financial Information · p. 328
The higher unit labor and manufacturing costs also contributed to our net loss in the third quarter of 2023, which was primarily due to (i) the lower overall utilization rate as the customers were more prudent and reluctant to place orders in consideration of the fluctuation in raw material prices, while the fixed costs did not decrease to the same extent, and (ii) the higher costs associated with the new production facility, Liuzhou facility, which was put into trial production in July 2023.
Summary · p. 30
Our goal is to have a production capacity of over 150GWh by the end of 2025.
The utilization rates for the first quarter of 2023 and the five months ended 31 May 2023 were generally lower as we carried out improvement and renovation works on our production facilities that began in December 2022 and into the first half of 2023.
Business · p. 306
With the development and further commercialization of our industry, and the effects of seasonality to be alleviated as a result, the high level of production capabilities that we maintain throughout the year to cope with the relatively concentrated production demand during the second half of the year, including equipment, machinery, production line staff, and management personnel, will be more evenly and efficiently utilized and our average production cost are expected to be reduced.
During the Track Record Period, we had a relatively low utilisation rate primarily because
Business · p. 251
(i) six feed mills were only established in 2021 with three of them commencing operations in the second and third quarter of the year, which lowered the utilisation rate in the same year;
Business · p. 251
(ii) the feed mills are designed to meet the demand from nearby farms in the long run, with a buffer in capacity to meet future operational needs in the area; and (iii) we chose to procure feed from external suppliers if, after taking into account factors including production and transportation costs, we consider that it is more cost efficient.