Hong Kong IPO disclosure precedents · 85 companies, 85 items
Disclosures highlighting inventory turnover days that are unusually long, rising, or spiking sharply during the track record period, with explanations for the trend.
In 2022, 2023 and 2024 and the six months ended June 30, 2025, our inventory turnover days were 136 days, 175 days, 183 days and 269 days, respectively.
Financial Information · p. 580
As of September 30, 2025, approximately RMB94.9 million or approximately 48.2% of our inventories as of June 30, 2025, were subsequently consumed.
Financial Information · p. 581
As of December 31, 2022, 2023 and 2024 and June 30, 2025, the balances of provision of inventory impairment were RMB1.6 million, RMB5.1 million, RMB3.9 million and RMB12.7 million, respectively, which we believe to be adequate by taking into account the factors including the expiry dates of the inventories and the expected future demand of relevant products.
Our inventory turnover days increased from 140 days in 2022 to 152 days in 2023, mainly due to a lower inventory balance at the beginning of 2022.
Financial Information · p. 374
Our inventories aged over one year primarily represented spare parts and consumables that we keep for repair and maintenance of our production facilities.
Financial Information · p. 373
As of August 31, 2025, US$93.4 million, or 78.0%, of our inventories as of April 30, 2025, had been subsequently used, consumed or sold.
Our inventories remained relatively stable at RMB19,738.4 million, RMB19,767.8 million, RMB19,948.0 million and RMB20,507.5 million as of December 31, 2022, 2023 and 2024 and April 30, 2025, respectively.
Financial Information · p. 433
Our inventory turnover days increased from 111 days in 2022 to 132 days in 2023, primarily due to (i) a decline in domestic market demand, leading to slower sales and extended inventory turnover days and (ii) the expansion of our overseas business, which involves longer turnover time due to factors such as international shipping.
Financial Information · p. 434
As of August 31, 2025, RMB13,577.1 million, or 66.2% of inventories as of April 30, 2025, had been used, consumed or sold subsequent to April 30, 2025.
During the Track Record Period, our inventories increased by 23.3% from RMB513.1 million as at 31 December 2022 to RMB632.6 million as at 31 December 2023, and further increased by 3.7% to RMB656.1 million as at 31 December 2024.
Financial Information · p. 529
Our average inventory turnover days then increased to 708 days in FY2024, primarily due to the increase in inventory balance as a result of the increase in international gold price.
Financial Information · p. 547
Nevertheless, due to the change in market sentiment and increase in gold price, the demand of our gold watch straps did not meet our expectation and the majority of them remained in our inventories as at 31 December 2024.
Our inventories increased by 10.7% from RMB156.2 million as of December 31, 2022 to RMB173.0 million as of December 31, 2023, primarily due to increases in outsourced processing materials in anticipation of an increase in customers’ demand.
Financial Information · p. 224
Our long inventory turnover days are primarily because that we outsource wafer manufacturing and chip packaging and testing to our suppliers, where the production cycles typically span more than six months.
Financial Information · p. 226
From 2021 to 2022, we strategically stockpiled inventory of wafers due to the global wafer supply shortage.
As of December 31, 2022, 2023, and 2024, the balance of our inventories was RMB1,185.3 million, RMB1,190.6 million and RMB1,029.5 million, respectively.
Our relatively long inventory turnover days are primarily a reflection of the nature of our project-based business model and the delivery cycle of our AMR solutions.
Financial Information · p. 420
As of December 31, 2022, 2023 and 2024, we recorded write-down of inventories of RMB113.5 million, RMB205.7 million and RMB161.1 million, respectively.
Our inventories subsequently decreased by 7.9% from RMB3,566.7 million as of December 31, 2023 to RMB3,284.6 million as of December 31, 2024, primarily due to a decrease in finished goods in response to the market conditions in 2024, in particular, the overall decrease in the market prices of crayfish products.
Financial Information · p. 316
Our inventory turnover days increased from 106.1 days in 2022 to 113.2 days in 2023, primarily due to the consolidation of inventory of Hubei New Liuwu and its procurement of raw materials is affected by seasonality and thus of relatively slower turnover.
Financial Information · p. 317
As of April 30, 2025, RMB2,584.0 million, or 78.7% of inventories as of December 31, 2024, had been used, consumed or sold.
Our inventories increased from RMB338.9 million as of December 31, 2022 to RMB727.3 million as of December 31, 2023, mainly due to the increases in raw materials, finished goods and work-in-progress, as we increased our inventory level to meet the increasing market demands for our products and support our business growth.
Financial Information · p. 411
The increase in our aged inventories over 60 days as of December 31, 2023 was primarily because we strategically increased our procurement of quartz pieces in 2023.
Financial Information · p. 411
We perform impairment testing on a quarterly basis. Despite that our inventory turnover days were 23.0 days for 2024, our impairment loss may still be material primarily because (i) both silicon wafer and PV cell price experienced significant decrease since the fourth quarter of 2023, during which time significant price decrease may occur in a timespan of only one or two weeks; (ii) we need to keep substantial inventory for, among others, safety stock purpose;
In 2022, 2023 and 2024, our impairment loss on inventory amounted to RMB25.7 million, RMB20.9 million and RMB17.4 million, respectively, accounting for 7.1%, 4.5% and 2.7% of our total revenue for the corresponding years. Our inventories turnover days achieved continuous decrease during the Track Record Period, which were 266 days, 226 days and 161 days in 2022, 2023 and 2024.
Financial Information · p. 321
The relatively prolonged inventory turnover days were primarily due to (i) we pre-stocked key raw materials, particularly batteries, in response to the fluctuations of prices, and (ii) we had pre-stocked finished products in preparation for the rising demand for new energy engineering machinery.
Financial Information · p. 332
As of December 31, 2024, the carrying value of these long-aging inventories amounted to RMB29.3 million. We had made impairment loss on these long-aging inventories of RMB18.9 million as of December 31, 2024, resulting in the net realizable value of such inventory of RMB10.4 million as of the same date.
Our inventories amounted to approximately RMB286.4 million, RMB324.0 million, RMB266.3 million and RMB317.6 million as at 31 December 2021, 31 December 2022, 31 December 2023 and 30 September 2024, respectively.
Financial Information · p. 447
Our average inventory turnover days were approximately 77.5 days, 108.5 days and 97.9 days for FY2021, FY2022 and FY2023, respectively.
Financial Information · p. 450
Our inventory balance mainly included alcoholic beverages, which constituted approximately 41.1%, 52.6%, 56.3% and 54.4% of our total inventories balance as at 31 December 2021, 31 December 2022, 31 December 2023 and 30 September 2024.
Our inventory turnover days were approximately 194 days, 168 days, 91 days and 46 days during the Track Record Period, respectively. The decrease in our inventory turnover days from FY2022 to FY2023 is because we accumulated a higher level of raw materials during FY2021 and FY2022 due to the various policy measures related to COVID-19 pandemic implemented by governments worldwide, which were fully utilised in FY2023.
Financial Information · p. 304
As at 31 December 2021, 2022 and 2023 and 30 September 2024, our Group had no write-down provision as a result of damaged or unsold finished goods.
Financial Information · p. 303
As at the Latest Practicable Date, approximately RMB44.7 million or 95.1% of our inventories as at 30 September 2024 had been sold or utilised.
Our inventory turnover days increased from 194 days in 2021 to 216 days in 2022, primarily due to an increase in the contract fulfillment costs in relation to the delivery of projects for our vehicle infrastructure cooperative systems business that were still in progress as of December 31, 2022.
Financial Information · p. 407
We provided provisions of inventories of RMB12.2 million, RMB14.4 million, RMB18.2 million and RMB19.1 million as of December 31, 2021, 2022 and 2023 and June 30, 2024, respectively.
Financial Information · p. 407
Taking into account that (i) our comprehensive solution portfolio requires various hardware of varying sophistication; (ii) we strategically maintain sufficient supply to meet the demand and support our business growth; (iii) a substantial majority of our inventories as of December 31, 2021, 2022 and 2023 and June 30, 2024 aged within one year and were subsequently settled or expected to be settled in one year; (iv) we have made full provision for inventories of raw materials that age over one year with no explicit usage plan and the remaining inventories of raw materials remain in working order and suitable for production; (v) we have made provision to the net realizable value for finished goods and made full provision for a small portion of finished goods which we do not have explicit sales plan; and (vi) we have implemented an effective inventory management system to monitor our inventory levels and recoverability, we are of the view that we have made sufficient impairment provision for inventories during the Track Record Period and there is no material recoverability issue for our inventories.
Our inventories increased from approximately HK$27.1 million as at 31 December 2021 to approximately HK$31.6 million as at 31 December 2022 and further increased to approximately HK$38.0 million as at 31 December 2023, primarily due to the increase in number of our health supplements and cosmetics and skincare products, which was in line with (i) the increase in number of our self-operated stores; and (ii) our growth in online sales channels.
Financial Information · p. 249
Our inventory turnover days increased from 158 days for FY2021 to 183 days for FY2022, and further to 193 days for FY2023, mainly attributable to the increase in inventories of our health supplements and cosmetics and skincare products in preparation for our future sales, which was in line with (i) the increase in number of our self-operated stores; and (ii) our growth in online sales channels.
Financial Information · p. 250
As at 31 October 2024, approximately HK$20.2 million or 58.4% of our inventories as at 30 June 2024 had been used, consumed or sold.
Our inventory turnover days increased from 232 days in 2021 to 251 days in 2022, and then decreased to 210 days in 2023. Our inventory turnover days decreased from 210 days in 2023 to 183 days for the six months ended June 30, 2024.
Financial Information · p. 533
As of December 31, 2021, 2022 and 2023 and as of June 30, 2024, sufficient provision has been made with regard to the inventories, which amounted to RMB1.6 million, RMB2.6 million, RMB2.5 million and RMB7.7 million, respectively.
Financial Information · p. 534
As of September 30, 2024, approximately RMB45.8 million or approximately 29.0% of our inventories as of June 30, 2024, were subsequently consumed.
Our average inventory turnover days increased from 161 days in 2021 to 261 days in 2022, mainly because we proactively stocked raw materials in 2022 in anticipation of increased customer demand and a shortage of carbon fiber.
Financial Information · p. 461
The finished goods stocked as our inventory over one year mainly included vehicle-mounted high-pressure hydrogen supply systems produced for a customer, which is mainly engaged in the production of hydrogen fuel cell vehicles, hydrogen fuel cell stacks, engines, among others, in Guangdong Province.
Financial Information · p. 461
As of May 31, 2024, the provision of finished goods aged over one year was RMB1.8 million.
Our inventories increased from RMB113.9 million as of December 31, 2021 to RMB363.5 million as of December 31, 2022 and further to RMB790.9 million as of December 31, 2023 primarily driven by (i) our strategic decision to increase our inventory level to meet the growing downstream demands for processing hardware from customers and (ii) our strategy to further accumulate and store a secure supply of inventory to counteract the cyclical nature of the automotive industry, especially the global auto-part supply shortage in 2021 and 2022.
Financial Information · p. 432
Substantially all of our inventories are aged within two years.
Financial Information · p. 434
we are of the view that we have made sufficient impairment provision for inventories during the Track Record Period and there is no material risk that our existing inventories cannot be recovered or will become obsolete.
Our inventories turnover days decreased from 128 days for 2021 to 121 days for 2022, which mainly reflected the continuous integration of the hardware components anticipatorily prepared in 2021 into our solutions.
Financial Information · p. 444
Our Directors confirmed that we had not experienced any material recoverability issues for our inventories during the Track Record Period as all inventories are expected to be recovered within one year.
Financial Information · p. 444
As of the Latest Practicable Date, RMB6.0 million, accounting for approximately 97.0% of our inventories as of December 31, 2023, had been subsequently utilized.
As at 31 December 2022 and 2023, we had inventories of approximately S$7.9 million and S$6.6 million, respectively.
Financial Information · p. 315
As at 30 April 2024, approximately S$4.2 million, accounting for approximately 63.4%, of our inventories as at 31 December 2023 was subsequently consumed or sold.
Financial Information · p. 316
Our average inventory turnover days increased from approximately 91 days for the year ended 31 December 2022 to 109 days for the year ended 31 December 2023 due to postponed delivery of certain parts and components as requested by our customers.
Our inventory level was relatively high during the Track Record Period, accounting for 83.5%, 80.3% and 71.4% of our total current assets as of December 31, 2021, 2022 and 2023, respectively, mainly as (i) we need to maintain sufficient inventories of finished goods and raw materials to meet the growing demands for sales and production and to decorate our boutiques' scenery settings;
Financial Information · p. 329
Our inventories turnover days were 357 days, 383 days and 205 days in 2021, 2022 and 2023, respectively.
Financial Information · p. 330
To promote the sales of our long-aged gold jewelry products, we may transfer them internally to our other boutiques with higher sales turnover.
Inventory turnover days increased to 197 days as at 31 December 2023 due to the increase in inventory level arising from the prolonged distribution schedule requested by our customers with the decrease in demand of the end customers for their products and the decrease in cost of sales level because of lower production volume.
Financial Information · p. 373
Given that the unsold finished goods are supported by customer’s demand forecast and impairment on overhead costs and direct labour costs has been made, our Directors are of the view that sufficient inventory provision has been made.