As a result, customer demand and delivery schedules for our EV-related products and solutions tend to peak in the fourth quarter compared to other quarters of the year, which may lead to fluctuations in our revenue, production volumes and utilisation rates between different periods.
Business · p. 134
As a result, customer demand and delivery schedules for our BESS-related products and solutions are typically higher in the fourth quarter compared to other quarters of the year, which may lead to fluctuations in our revenue and results of operations between different periods.
Typically, demand tends to decline in winter and summer due to extreme weather conditions and holiday periods, which slow or temporarily halt construction activities.
Business · p. 147
To ensure efficient utilization of personnel and production capacity, we typically estimate seasonal demand in advance, drawing on our extensive industry experience, and schedule production ahead of peak periods.
During the Track Record Period, although certain fluctuations associated with industry promotional cycles continued to exist, such fluctuations did not result in material seasonality that would have a significant impact on our results of operations.
Business · p. 147
Our business has historically been influenced by general promotional cycles in the e-commerce and content operation industries, particularly within the beauty and personal care industry, where marketing demand exhibit relatively higher levels in periods leading up to major online shopping festivals in China, in particular the ‘‘618’’ mid-year promotion and the ‘‘Double 11’’ shopping festival, which typically corresponded to increased marketing and promotional activities by enterprise customers.
Business · p. 147
This diversification into project-based marketing cycles has effectively moderated our seasonal fluctuations and reduced our reliance on specific shopping festivals.
Our business exhibits a moderate level of seasonality.
Business · p. 147
Specifically, revenue of the Clinics, which is directly co-related to our revenue performance, tends to increase significantly during the Mother’s Day period in May and anniversary sales in October, continuing through the Lunar New Year.
Business · p. 147
Specifically, from June 2024, revenue of the Clinics, which is directly co-related to our revenue performance, tends to increase significantly during the Mother’s Day period in May and from October, up to the Lunar New Year due to the festive sentiment of the market.
We have historically experienced higher sales of our TCM products in the PRC in the second half of each year as compared to those in the first half of the year. This seasonality is the result of a combination of several factors, including Chinese New Year holidays in the first quarter.
We typically experience higher product sales during shopping festivals, such as 618, Double Eleven and Double Twelve shopping festivals, and public holidays, such as the New Year, the Spring Festival and Christmas.
Business · p. 143
As such, we typically experience sales peaks during the fourth quarter of each year.
Business · p. 143
We believe this pattern is likely to continue in the foreseeable future.
The sales performance of our products is generally subject to seasonal fluctuations.
Business · p. 175
Due to the concentration of global shopping events in the second half of the year, our shipment volume generally increases, resulting in higher revenue during this period.
Financial Information · p. 212
Such fluctuations are seasonal in nature and thus quarterly or half-year results are not indicative of our results of operations for the full year.
Historically, our revenue has tended to be higher in the fourth quarter of each year, primarily due to the timing of procurement activities of our customers, who typically accelerate procurement, project execution and settlement toward year-end in accordance with their annual budgets and procurement plans.
We have historically experienced, and expect to continue to experience, accelerated revenue generation in the second half of a particular year as compared to the first half of that year.
Business · p. 179
The accelerated revenue generation in the second half of a year is primarily because our major customers, who primarily engage in smart mobile devices sector, typically launch new product models in the second half of a year.
In general, our vehicle sales tend to peak in the fourth quarter, which is traditionally the busiest season for the automotive industry. This seasonal increase is primarily driven by a rise in vehicle purchases toward the end of the year.
For instance, in winter, due to climatic factors, the incidence of respiratory diseases, cardiovascular and cerebrovascular diseases is relatively high, leading to a higher level of consumption of related home care medical devices.
Business · p. 146
In addition, affected by special periods such as "618" and "Double Eleven (雙十一)" shopping festivals, online sales may experience a significant increase.
Business · p. 146
As we continue to enrich our product portfolio, we expect to reduce the impact of seasonality with increased diversity.
Typically, since market demands and production cycles vary throughout the year, we sell more products under ODM model in the first and fourth quarters, and more branded products in the second and third quarters, of a given year.
Business · p. 158
If seasonal demand exceeds our expectation, we may not have sufficient stock or arrange for timely production and delivery. If seasonal demand is lower than our expectation, we could be left with excess inventory, higher working capital and liquidity requirements, as well as the risk of impairment losses on our inventory.
We typically experience stronger order intake and sales activities in the fourth quarter, driven by seasonal demand in overseas markets and year-end procurement and production cycles in Chinese Mainland.
Business · p. 168
As a result, our revenue, margins and cash flows may vary between interim periods, and the first half of the year generally contributes less than the second half, which is generally consistent with normal industry practice.
Business · p. 168
Our results of operations are affected in part by seasonal factors.
Our sales volume is typically higher in the second half of the year.
Business · p. 150
According to CIC, this seasonality is common across the sports medicine device industry, with medical device manufacturers similarly experiencing stronger procurement demand and sales in the second half of the year.
Our sales exhibit a seasonal pattern, with a greater share of revenue generated in the second half of the year, because our major customers in the BIoT industry typically plan their budgets at the beginning or end of their fiscal year and bulk purchase orders are more likely to be placed following budget approvals.
Financial Information · p. 196
This seasonality is common across the industry and reflects customer purchasing behavior rather than company-specific operational factors.
Financial Information · p. 196
According to CIC, our business seasonality is consistent with that of the BIoT industry.
For our intelligent city cluster multi-modal transit solutions, we generally experience effects of seasonality primarily driven by the extended project implementation times, and the timing of revenue recognition due to the project-based operations of this business.
Financial Information · p. 207
As a result, our operating and financial metrics for an interim period may not be representative of our overall performance.