Separately, as we expand our production capacity, we typically experience a production ramp-up period before we can reach the optimal utilization rate. During ramp-up period, we would record higher unit manufacturing and direct labor costs.
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The higher unit labor and manufacturing costs also contributed to our net loss in the third quarter of 2023, which was primarily due to (i) the lower overall utilization rate as the customers were more prudent and reluctant to place orders in consideration of the fluctuation in raw material prices, while the fixed costs did not decrease to the same extent, and (ii) the higher costs associated with the new production facility, Liuzhou facility, which was put into trial production in July 2023.
Summary · 第 30 页
Our goal is to have a production capacity of over 150GWh by the end of 2025.
国鸿氢能科技（嘉兴）股份有限公司Sino-Synergy Hydrogen Energy Technology (Jiaxing) Co., Ltd.09663.HK
2023年一季度产能利用率因产线改造偏低
The utilization rates for the first quarter of 2023 and the five months ended 31 May 2023 were generally lower as we carried out improvement and renovation works on our production facilities that began in December 2022 and into the first half of 2023.
Business · 第 306 页
With the development and further commercialization of our industry, and the effects of seasonality to be alleviated as a result, the high level of production capabilities that we maintain throughout the year to cope with the relatively concentrated production demand during the second half of the year, including equipment, machinery, production line staff, and management personnel, will be more evenly and efficiently utilized and our average production cost are expected to be reduced.
During the Track Record Period, we had a relatively low utilisation rate primarily because
Business · 第 251 页
(i) six feed mills were only established in 2021 with three of them commencing operations in the second and third quarter of the year, which lowered the utilisation rate in the same year;
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(ii) the feed mills are designed to meet the demand from nearby farms in the long run, with a buffer in capacity to meet future operational needs in the area; and (iii) we chose to procure feed from external suppliers if, after taking into account factors including production and transportation costs, we consider that it is more cost efficient.
The utilization rate of our facilities at Wuxi site for bioconjugate drug substance manufacturing was 51%, 73% and 85% in 2020, 2021 and 2022, respectively.
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We will continue to assess our manufacturing capacity from time to time based on the projects in our pipeline and the utilization rate of our manufacturing facilities in operation.
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We seek to expand our manufacturing capabilities and capacity at the Wuxi site, so that our capabilities encompass the full-spectrum from antibody intermediates to drug products to achieve self-sufficient operations, and our capacity meets the needs of multiple late-stage bioconjugate development and manufacturing projects.
During the Track Record Period, our intralogistics equipment had maintained a consistent level of utilization, with rates at 78.9%, 78.5%, 73.1% and 72.7% for 2020, 2021, and 2022 and the four months ended April 30, 2023, respectively.
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Our utilization rate of intralogistics equipment increased from 72.9% to 74.0% from the eight months ended August 31, 2022 to the same period in 2023 primarily due to the increase of our intralogistics equipment subscription service orders in line with the post-COVID-19 recovery of economy and our acquisition of new customers.
Summary · 第 23 页
We aim to manage our fleet size dynamically, taking into account various factors, including customer demand, market prospects, and our liquidity management policy, to effectively mitigate risks associated with overcapacity and underutilization.
十月稻田集团股份有限公司Shiyue Daotian Group Co., Ltd.09676.HK
设计产能持续扩张致产能利用率下降
There is no direct correlation between the trend of the increase in our OEM production volume and the trend of the decrease in our production utilization rate from 2020 to 2022, which was primarily attributable to our continuous expansion of designed capacity.
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As expanding in-house production capabilities is crucial for us in the long run to manage our production and supply chain, better meet growing customer demands and control costs, we plan to continuously expand our internal production capacities as the primary approach to meet the market demands for our products.
In 2021 and 2022, the utilization rate of our manufacturing base in terms of number of days in use was approximately 69.9% and 84.4%, respectively.
Business · 第 450 页
Due to the intermittent nature of production demand for pre-clinical studies and clinical trials, our manufacturing capacity may not be fully utilized throughout each point of the year.
The utilization rate of our self-owned vessels in 2020 was lower than that in later periods of the Track Record Period, primarily because the gap periods between the charters were relatively longer as a result of lower demand in our time charter services in 2020.
Summary · 第 18 页
The utilization rates of our self-owned and chartered-in vessels in 2022 were also lower than those in 2021, respectively, primarily due to necessary repair and maintenance work performed on certain self-owned and chartered-in vessels in 2022.
Summary · 第 18 页
The management of capacity requires cost consideration and complex planning based on, among other things, our observations, assumptions and expectations on market trends.
Our pilot manufacturing facilities have operated at approximately 100% utilization rate since 2021, successfully supporting various preclinical studies, IND applications and early-stage clinical trials of some of our drug candidates.
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However, the scale of our pilot production lines is insufficient to meet the demand for commercial sales of our drug candidates in the near future.
中宝新材集团有限公司China Treasures New Materials Group Ltd.02439.HK
产能扩张逾七倍及惠州基地预计低利用率
The estimated utilisation of Huizhou Production Base in FY2023 will be low as we assumed trial production will commence 1st quarter of 2024 after we apply proceeds for the development. Also, we need time to produce sample with our customers before mass production.
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In any event, despite the expected annual maximum production capacity of biodegradable plastic products after expansion will increase from 6,440 tonnes to 46,368 tonnes (i.e., Changchun: 28,840 tonnes and Huizhou: 17,528 tonnes), the expansion plans are commercially justifiable given we expected there will be a potential increase in market demand, in terms of sales revenue of (i) biodegradable produce bag rolls and (ii) biodegradable shopping bags in China.
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Lastly, we have considered that the maximum capacity should be able to support its expansion not only for 2-3 years as the useful life of these production machines, if properly maintained, could be 10 years or longer.
These central kitchens meet our current store needs, with their utilization rates ranging from 43% to 95% in 2021 and from 54% to 73% in 2022.
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Within such service radius, we are generally able to accommodate new stores through the expansion of the production and warehousing capacities of existing central kitchens.
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We do not impose a limit on the number of stores that a particular central kitchen can serve.