Hong Kong IPO disclosure precedents · 26 companies, 26 items
Utilisation at or near saturation, or exceeding 100% of design capacity on some or all lines, raising sustainability and overcapacity-risk disclosure issues.
Our utilization rates exceeded 100% in relevant period, primarily because production in excess of our designed production capacity was achieved through overtime and additional shifts beyond the customary shift pattern.
Business · p. 138
We plan to expand our production capacity at our Suzhou and Dongguan facilities and establish a new facility dedicated to our new application business.
Operational risks include the technical challenges associated with maintaining high utilization rates, which have consistently exceeded 100 per cent of designed capacity, and the need to ensure compliance with stringent environmental standards through continuous investment in emissions control technology.
Business · p. 125
Renhe Environment obtained written approval from the Changsha Municipal Bureau of Ecology and Environment, being the relevant competent environmental authority, for the upgraded technical transformation project, which will allow the treatment capacity to reach 1,560 tons per day upon completion.
For FY2023, FY2024, FY2025 and 1H2026, our capacity utilization rates for engines were 88.4%, 93.0%, 98.6% and 94.3%, respectively.
Financial Information · p. 227
To meet the anticipated increase in customer demand, we intend to expand our production capacity and install advanced and highly intelligent equipment and production lines, in order to deliver more products and generate more revenue while optimizing our costs and profit margins.
Financial Information · p. 227
The two machining lines and two assembly and testing lines are expected to be completed and become operational in or before 2031.
Certain minimally invasive intervention and IVD product lines recorded utilization rates exceeding 100.0%, as we met strong demand by extending working hours through overtime, resulting in actual output surpassing our planned capacity based on standard working hours.
Business · p. 186
Throughout the Track Record Period, the utilization rate of the production capacity for our minimally invasive intervention consumables exceeded or approached full capacity, driven by sustained strong market demand.
Business · p. 186
The utilization rate of the production capacity for our endoscope systems was relatively low at 22.3% in 2023, as the product was launched at the end of 2022 and was in its initial commercialization phase.
(1) The utilization rate of our feed mill exceeded 100% in the first half of 2026, primarily due to: (i) increased demand for our feed products, which led us to operate beyond the standard assumptions used in calculating production capacity; and (ii) a more concentrated production mix of major feed products, which improved production efficiency.
Business · p. 131
Our feed mill commenced production in January 2024. The utilization rate for our feed mill increased from 62.3% in 2024 to 96.7% in 2025, primarily due to the feed mill was still in the ramp-up stage in 2024 and reached nearly full capacity in 2025.
During the Track Record Period, our utilization rates remained stable, reflecting our ongoing efforts to maintain a prudent capacity buffer to accommodate demand fluctuations and preserve operational flexibility.
Business · p. 176
The decrease in the utilization rate for automotive optoelectronics in 2025 was primarily attributable to adjustments made to our product development plan in response to our customers’ ongoing upgrades of their product offerings.
Business · p. 176
In 2025, as industry inventory levels gradually normalized and telecom operators’ procurement activities became more stable, together with the our continued efforts to optimize our product mix and production capacity allocation, the utilization rate for others has significantly improved compared to 2024.
During the Track Record Period, we had production utilization rates of 72.5%, 94.0% and 100.8% in 2023, 2024 and 2025, respectively.
Financial Information · p. 184
We regularly review production utilization, optimize processes and upgrade equipment to unlock additional capacity and respond swiftly to evolving customer needs.
The production capacity is calculated assuming the operation of 20 hours per day for six days a week. The utilization rate exceeded 100% as we increased the shift arrangements of manufacturing staff to meet production targets and fulfill the market demand for products, resulting in the production volume exceeding the production capacity.
Business · p. 157
Our profitability also depends on the economies of scale achieved through maintaining a reasonable level of capacity utilization.
Financial Information · p. 228
We are currently constructing two manufacturing plants in Shenzhen and Dongguan, Guangdong Province, as part of our strategy to increase the proportion of manufacturing capacity at our self-owned plants, thereby enhancing our ability to manage and control manufacturing and operating costs.
During the Track Record Period, our total warehouse GFA increased from approximately 8.7 million sq.m. as of December 31, 2023 to exceeded 11.0 million sq.m. as of December 31, 2025, primarily driven by the expansion of our Shared Inventory Distribution Centers to support business growth.
Business · p. 145
Our utilization rates for both self-owned and leased facilities remained at high levels throughout the Track Record Period, reflecting efficient capacity management.
First, each of our production facilities in Chinese Mainland has reached a relatively high level of utilisation, with annual utilisation rates consistently reaching or exceeding 80% during the Track Record Period, one of the highest among battery separator manufacturers, according to Forest and Sullivan.
Business · p. 154
Our continued expansion of production capacity during the Track Record Period is a strategic response to rising customer demand and intense market competition, as demonstrated by similar capacity increases among our competitors in recent years, according to Frost & Sullivan.
The production capacity of our China production bases have steadily increased during the Track Record Period from 37.1 million m^2^ for the year ended December 31, 2023 to 49.8 million m^2^ for the year ended December 31, 2024, and further to 51.0 million m^2^ for the year ended December 31, 2025, with the utilization rate reaching 80.9%, 91.3% and 86.0% in the same respective years.
Financial Information · p. 208
In addition, our Thailand production base enhances our overall production capacity and provides additional flexibility to support our business expansion.
As at 31 December 2025, our production facilities in Taizhou, Zhejiang has production lines with an aggregate designed production capacity of approximately 6.1 million kW per annum for our PMSM and 3-PH IM products.
Financial Information · p. 177
During the Track Record Period, the utilisation rate of our production facilities for our PMSM was approximately 76.4%, 86.3% and 96.0%, respectively; the utilisation rate of our production facilities for our 3-PH IM was approximately 88.8%, 98.7% and 87.7%, respectively, during the corresponding periods.
Financial Information · p. 177
To support growth, we aim to expand our production capacity by setting up more production lines through acquiring more machineries.
Our Qingyuan Chicken and other native chickens had a production utilisation rate of 86.4%, 89.5% and 85.2% as of December 31, 2023, 2024 and 2025, our pigs had a production utilisation rate of 79.2%, 87.8% and 90.2%, while our fresh and other products had a production utilisation rate of 57.5%, 79.4% and 110.5%, respectively, as of the same dates.
In 2023, 2024 and 2025, our utilization rate of production line for sensors was approximately 76.3%, 90.5% and 95.9%, respectively, and for algorithm modules was approximately 80.1%, 88.7% and 98.0%, respectively.
Business · p. 157
In addition, in anticipation of rising order volumes in the future, we have made, and will continue to make, investments in expansion and upgrade of production facilities and equipment to expand our production capacity and improve production efficiency.
In 2023, 2024 and 2025, the production capacity of our manufacturing facilities was approximately 570 thousand units, 650 thousand units and 624 thousand units, respectively.
Financial Information · p. 216
In anticipation of the increase in demand, we plan to further enhance our mass production capability by adding new production equipment and machinery, enhancing automation and efficiency for our existing equipment and machinery and expanding our manufacturing facilities.
Business · p. 151
We have obtained the Investment Project Filing Certificate for establishing a new production base along with warehouses in Tianjin, China, with a proposed total site area of approximately 31,000 square meters, which is expected to increase our annual production capacity of robotic pool cleaners by more than 600,000 units.
In FY2024, the utilisation rate of our baby diapers production line reached approximately 90.1%, almost reaching its designed capacity, while that of our disposable period underwears production lines reached approximately 94.7%, respectively.
Business · p. 145
These elevated utilisation rates reflect that our baby diapers products and disposable period underwear products production lines have been operating near full capacity, thereby constraining our ability to fulfil additional orders and accommodate future growth.
Business · p. 145
We believe that the addition of five new production lines is necessary to relieve capacity constraints, fulfil rising market demand and capture further growth opportunities in these strategic segments.
Bed occupancy rate exceeded 100% due to the addition of temporary beds to satisfy the increasing market demand, which we believe was in line with our hospital’s social responsibilities.
Business · p. 176
for a Class III hospital, the number of beds in operation as of the end of a given year can deviate up to 15% above or below the number of registered bed as of the same date, and still be considered compliant.
Business · p. 176
In February 2025, we commenced the operation of Phase II of Nanjing BenQ Hospital. As the registration of additional beds was still in progress, the number of registered beds remained unchanged as of June 30, 2025.
The utilization rate of precision casting mullite products in 2022 and 2023 and the five months ended May 31, 2024 exceeded 100% because we extended production time beyond the initially planned schedule of 300 days for a fiscal year or 125 days for the five months ended May 31, 2024.
Business · p. 203
The utilization rate of the production line for precision casting mullite products decreased from 102.2% in the five months ended May 31, 2024 to 65.6% in the five months ended May 31, 2025, primarily due to the ramp-up of the new production line and the scheduled maintenance and repair work on the existing production lines.
Business · p. 204
Despite the lower utilization rate in the five months ended May 31, 2025, the actual production volume of precision casting mullite products increased significantly from 46.8 kt in the five months ended May 31, 2024 to 84.8 kt in the same period of 2025.
During the Track Record Period, our gold hardening facilities had an annual capacity of 4,145,301 grams, 2,544,395 grams, 1,677,697 grams and 690,937 grams of hardened gold, with utilisation rates of 56.5%, 95.2%, 99.0% and 83.2% during FY2022, FY2023, FY2024 and 5M2025, respectively.
Financial Information · p. 531
The decreasing trend of the annual production capacity of our gold hardening facilities during the Track Record Period was primarily attributable to the significant increase in the time required to carry out the CNC machining process, which is the bottleneck process in gold hardening and processing, as a result of the additional technical requirements, precision and quality control necessary for the processing of thinner layers of hardened gold to be utilised in our gold-case watch and gold-bezel watch products as reflected in the decreasing trend in the average of gold contained in relation to our traditional watches during the Track Record Period.
The average monthly utilization rates for these 14 key lines reached 73%, 73.3% and 89.6% in 2022, 2023 and 2024, respectively.
Business · p. 227
We commenced the expansion of Qiantang Site in October 2024 and expect to complete the expansion by the end of 2025, achieving an additional annual productivity of 500kg.
Business · p. 229
This expansion plan is in response to growing existing and potential customer demand for GLP-1 products, which are approaching advanced stages of clinical and commercial production.