Hong Kong IPO disclosure precedents · 46 companies, 46 items
Utilisation rates that fluctuate significantly over the track record period or diverge sharply between product lines or bases, including sudden drops and rebounds.
As customer orders for helmets during the Track Record Period were lower than the historical level, actual production volume remained below production capacity, resulting in relatively low utilization rates.
Business · p. 156
The utilization rate of our LSEV in the PRC Base decreased from 103.6% in 2024 to 3.6% in 2025, primarily reflecting a temporary reallocation of certain final vehicle assembly activities serving the U.S. market to the United States during the tariff period.
Business · p. 157
To address the lower utilization of our PRC facilities, we reallocated the relevant PRC LSEV production lines to powersports products, non-LSEV E-mobility products and selected component production in January 2026.
The production utilization rate for 2023, 2024 and 2025 and the six months ended June 30, 2025 and 2026 was 96.8%, 81.8%, 92.5%, 91.6% and 92.2%, respectively.
Financial Information · p. 210
We recorded a low utilization rate in 2024, which was in line with the market according to Frost & Sullivan, primarily as a result of an oversupply in the lithium battery copper foil market in 2024.
Business · p. 161
Since 2025, our sales have been limited by our production capacity.
The utilization rates of our Foshan Yuanhong, Foshan Hansao, Suzhou Yuen Kee and Foshan Yuanchuang factories decreased in 2024 and/or 2025 primarily due to the expansion of production capacity in order to reserve sufficient capacity for business growth and peak-season production.
Business · p. 139
In addition, the Suzhou Yuen Kee factory added new machinery workshops, handbag workshops and ready-to-eat food workshops in 2024 and 2025, which significantly expanded its overall production capacity.
We have maintained utilization rates between 61% and 75% during the Track Record Period, which we believe would provide us with a reasonable buffer in production capacity to cater for further business growth.
Business · p. 123
For the year ended March 31, 2024, our utilization rate was relatively high at 75% as we increased our output due to relatively low inventory as of the beginning of the year ended March 31, 2024.
Business · p. 123
We have since completed the installation works, and have resumed full operations of the facility from May 2026.
During the Track Record Period, our utilization rate for our semi-solid formulations was relatively lower in 2024, primarily because we proactively commissioned additional production lines in anticipation of our advancing product pipeline, and these newly established lines were still in the early stages of capacity ramp-up.
Business · p. 143
The utilization rate for solid dosage forms was relatively lower in 2023 and 2024, as the relevant products were either pending approval or had recently received approval.
In 2023, 2024 and 2025, our utilization rate was 60%, 85% and 83%, respectively.
Financial Information · p. 179
To improve the utilization of our production capacity and reduce impairment, we have taken various measures, including formulating our manufacturing plans in reference to WHO guidance, historical and seasonal demand, regulatory communication and requirements.
The following table sets forth our designed production capacity, actual production volume and utilization rate of our manufacturing facilities for the local manufacturing of Keppra by production lines for the years indicated.
Due to the sales of existing inventory prior to production and a transition in our manufacturing model into local manufacturing, utilization rates for the manufacturing of Keppra tablets in 2023 and Keppra oral solutions in 2025 were low.
During the Track Record Period, our Shanghai manufacturing base maintained relatively high utilization rates over 80.0% in 2023, 2024 and 2025, while our Haining manufacturing base and Malaysia manufacturing base recorded fluctuating utilization rates during the Track Record Period.
Financial Information · p. 197
We plan to enhance our production capacity layout in Chinese mainland to keep pace with the growing market demands.
During the Track Record Period, the utilization rate of our manufacturing facilities in China was 69.7%, 70.1% and 71.9% in 2023, 2024 and 2025, respectively, and 23.1%, 54.0% and 72.6% in Vietnam, respectively.
Financial Information · p. 159
Conversely, if our production utilization rate decreases due to weaker demand, production disruptions or other operational factors, our unit production costs may increase, which may adversely affect our profitability.
In 2024, our production volume and utilization rate at Wenling base was higher due to an increase in international order demand, supported by many of our customers adopting a stockpiling strategy to mitigate the impact of tariff fluctuations.
Business · p. 162
Our manufacturing bases in Fehérgyarmat, Hungary and Tangerang, Indonesia primarily serve as assembly centers, where components are manufactured at our other three manufacturing bases.
Due to the highly customized nature of our products, our production capacity and utilization rate are largely determined by production line design and resource allocation following the receipt of customer orders.
Business · p. 153
Consequently, this re-prioritization led to a reduction in capacity allocation for our tower manufacturing operations, and the utilization rate fluctuated slightly during the Track Record Period.
Business · p. 153
In 2024 and 2025, the production of certain technically complex products required longer standard production hours when measured at comparable tonnage, which resulted in lower actual production capacity but higher capacity utilization rates.
For sensors, the utilization rate decreased from 76.2% in 2023 to 65.3% in 2024, primarily due to a capacity expansion for gas sensors that temporarily lowered their utilization rate.
Business · p. 114
For intelligent instrumentation, the utilization rate decreased from 94.5% in 2023 to 65.6% in 2024, primarily attributable to the ramp-up of a significant expansion in designed production capacity for our gas instruments.
Business · p. 114
In 2025, the utilization rate for intelligent instruments reached 103.1%, mainly because actual output surpassed designed capacity, with overtime production enabling us to meet heightened market demand.
Our utilisation rate was 93.1% in FY2023. Due to our project backlog and capacity utilisation, our Company established Jiaxing Top in 2023 to expand our production capacity.
Financial Information · p. 236
For instance, our utilisation rate decreased in FY2024 and FY2025 since a significant amount of our projects which were not yet completed during that period of time, particularly those with contracts signed in the second half of 2024 or early 2025, were in the component procurement and preparation stage, and had not commenced the component assembly stage.
Business · p. 178
Our production operations mainly involve assembly of parts and components and depends on the availability of working space in our production base.
We believe part of the market demand that was previously met by in-pack type detectors has migrated to plug-in type detectors, resulting in a decrease in utilisation of the in-pack type detector production line, while the utilisation of the plug-in type detector production line has been increasing.
Primary factors affecting the utilization rate of our manufacturing facilities include the market demand for certain products, which affects the volume of orders from our customers, and our ability to utilize our newly ramped-up capacity.
Business · p. 99
These utilization levels require us to expand our production capacity to support anticipated growth in demand.