Hong Kong IPO disclosure precedents · 165 companies, 165 items
Seasonality with stronger H2 sales from new product launch cycles and holiday shopping seasons, and lower Q1 sales or production due to Chinese New Year holidays.
We recorded higher revenue from the sale of our potted vegetable produce in the third quarter of the year.
Business · p. 200
There was a significant increase in revenue generated in the second quarter of 2021 as compared to that of 2020, mainly due to the conversion of traditional regular greenhouses to enhanced large greenhouses during the third quarter of 2020 in our Laixi Facility which enabled us to cultivate more potted vegetable produce during the winter season in 2020 and, therefore, contributed to the increase in revenue in the second quarter of 2021.
Business · p. 201
During the Track Record Period, we experienced seasonality fluctuations in the cultivation of our potted vegetable produce due to weather conditions.
The seasonality of crop nutrient demand results in our sales volume and sales revenue typically being the highest during the second half of our fiscal year and our working capital requirements typically being the highest just prior to the start of the fall season.
Financial Information · p. 364
In each of FY2021, FY2022 and FY2023, revenue generated from the first half of the financial year only accounted for approximately 33.6%, 41.6% and 35.7% of our total revenue, respectively.
Financial Information · p. 364
If seasonal demand is less than what we expect, we will be left with excess inventory, higher working capital and liquidity requirements, as well as the risk of impairment losses on our inventory.
We generally achieved higher revenue in the second half of the year than in the first half of the year as construction activities are generally comparatively latent during the Lunar New Year, and the winter weather conditions could adversely affect construction operations.
Business · p. 192
Our Directors are of the view that our average trade and bills receivables turnover days as of June 30, 2023 is not meaningful and not directly comparable with the turnover days in the previous years due to the seasonality of our business operation.
We normally record higher sales in the second half of a year than the first half of a year as construction and business activities are less active during long Chinese New Year holiday. For the six months ended 30 June 2021 and 2022, our revenue amounted to approximately RMB332.9 million and RMB371.9 million, respectively, representing approximately 24.7% and 27.0% of our revenue for the year ended 31 December 2021 and 2022, respectively.
Business · p. 165
We recorded higher turnover days for contract assets of approximately 372.0 days for the six months ended 30 June 2023, which was mainly attributable to a lower level of construction and business activities during the first half of the year due to seasonality factor, which led to a lower level of revenue recognised during the first half of the year and more contract assets being certified towards the end of a year in general.
Our results of operations are affected by seasonal fluctuations in demand for our products for ADAS applications, as impacted by market trends of the automotive industry.
Financial Information · p. 268
Sales of LiDAR products for ADAS applications tend to increase in the second half of the year, which is generally in line with the overall automotive industry in China.
In general, we experienced increased demand for our autonomous driving solutions and products during the second half of the calendar year, compared to the first half of the year, which is consistent with the practice of the automobile industry, according to Frost & Sullivan.
Business · p. 303
Our trade receivables, net of provisions for impairment, decreased significantly from RMB288.6 million as of December 31, 2022 to RMB119.1 million as of June 30, 2023, mainly because of (i) our customers’ settlement for sales accrued in the fourth quarter of 2022; and (ii) the decrease of sales in the first half of 2023 compared to the second half of 2022, which was attributable to the seasonal fluctuation of the market.
Specifically, from 2018 to 2022, the proportion of new energy vehicle sales in the first half of the year averaged less than 40% of the annual total, while the second half, especially the fourth quarter, is the peak season for EV sales, according to F&S Report.
Business · p. 314
As affected by seasonality, the sales volume of our EV battery products in the first half of the year were generally lower than that in the second half of the year.
We typically have increased sales before and during the holiday seasons, festivals and events, most of which happen during the second half of the year.
Business · p. 203
Our financial condition and results of operations are subject to seasonal fluctuations.
We typically record higher revenues in the second half of the year than in the first half of the year.
Business · p. 333
For example, the hoisting of our wind power projects is affected by the windy weather, the construction in the northwest region is affected by the cold wave, and the construction in the southern region is affected by the monsoon season.
Financial Information · p. 460
The lower revenue recognized for the six months ended June 30, 2023 was mainly attributable to seasonality of our construction work, which during the Chinese New Year period, most of our projects and constructions are suspended.
Based on our past experience during the Track Record Period, our revenue is typically higher in the second half of the year as a large proportion of marketing activities is concentrated on product or services newly launched or promotional campaigns prior to the holiday seasons in the summer holidays, Mid-Autumn Festival, National Day, the Double 11 Online Shopping Festival and New Year's Eve.
We generally have a lower volume of business around the Chinese New Year holiday in the first quarter of each year as most of our customers enjoy Chinese New Year holiday and stop production and operation or substantially lower production and operation during such period.
Business · p. 246
As a result, our financial condition and results of operations for future periods may continue to fluctuate from time to time due to seasonality.
During the Track Record Period, we generally derived higher revenue generated from our automobile retail and finance business in December each year until before the Chinese New Year in the next calendar year.
Business · p. 221
We believe that this seasonal pattern is primarily correlated with typical customer behaviours in the PRC, where the sales of automobile are generally higher as a result of the increased demand for automobiles prior to the festive season in the PRC.
In particular, we generate a substantial amount of our revenue from our hotpot products, which are generally more popular during cold seasons. Historically, our sales are generally higher from October to February the following year.
Business · p. 211
To offset the impacts of seasonality to a certain extent, we have enriched our product mix to include barbecue products, snacks, beverages and alcoholic drinks, and expect to meet the needs for more dining scenarios such as campsite dining casual snacking at home, fruits and light meals and solo dining.
Business · p. 211
Our business and operating results are subject to seasonal fluctuations because of several factors including weather, holidays and school vacations.
Our parcel volume was typically lower in the first quarter of each year as a result of regional holidays such as the Lunar New Year.
Business · p. 246
In China, we typically experience higher parcel volume in the fourth quarter of the year due to various holidays and promotional events offered by e-commerce platforms, such as around the November 11 and December 12 sales promotion periods.
Business · p. 246
As a result of such fluctuations, comparisons of revenue and results of operations between different periods within a single financial year or between different periods in different financial years cannot be relied on as indicators of our performance.
We typically experienced higher sales in March of each year, primarily in connection with distributors’ restocking demands after the Spring Festival holiday.
Business · p. 267
Sales are also relatively higher in July, August and September of each year which are months that straddle summer holidays and school opening seasons when students and parents typically have strong transportation mobility needs.
Business · p. 267
Due to seasonality, the procurement and sales frequency of offline distributors differs significantly in peak and off-peak seasons.
Our results of operations are subject to seasonality, primarily due to the harvest season of our raw materials and sales peak resulted from holidays and shopping events.
Financial Information · p. 281
Accordingly, our results of operations fluctuate over the year, and our interim results may not be indicative of our annual results.
Financial Information · p. 281
Our inventories are subject to seasonality, primarily due to the harvest season of our raw materials and sales peak resulted from holidays and shopping events.
Demand for our cross-border logistics services has historically been affected by seasonality.
Financial Information · p. 343
According to Frost & Sullivan, customer demand for logistics services can be highly seasonal with the traditional peak season being the third quarter of each year for the China-Americas and the China-Europe shipping routes, as overseas sellers are to prepare for the Christmas and New Year holidays.
Business · p. 276
As a result of such fluctuations, comparisons of results of operations between different periods within a single financial year or between different periods in different financial years cannot be relied on as indicators of our performance.
Normally, the first quarter of each calendar year contributes to the smallest portion of our annual revenue, primarily due to a decrease in users’ willingness to exercise during the winter season and reduced sales of our self-branded fitness products during the Chinese New Year holiday period in the quarter.
Business · p. 192
Seasonal fluctuations have not thus far posed material operational and financial challenges to us.
Our testing volume generally declines in January and February due to lower patient flow and decreasing needs for health checks during the Chinese New Year holiday.
Business · p. 195
Declines in testing volume reduce revenues, operating margins and cash flows.