For example, revenue generated in July 2024 and December 2024 accounted for 4.4% and 15.3% of our total revenue generated from sales of products, with the production capacity of our production lines for hog plum paste in July 2024 being 56.5% and reaching 148.2% in December 2024.
Business · 第 143 页
The supply of our major raw material, hog plums, is highly seasonal in nature.
Business · 第 143 页
The elevated inventory levels of raw materials during collection seasons and finished products in preparation for sales peaks contribute to fluctuation in our interim results, which may not reflect our overall annual performance, highlighting the importance of our inventory and supply chain management strategies.
Our sales are affected by seasonal fluctuation due to customers’ purchasing practices.
Financial Information · 第 176 页
The seasonal ordering trends often result in a higher volume of orders in the second half of the year since major customers tend to concentrate their order placements toward the end of the fiscal year driven by their annual budget practices.
While our business does not experience material seasonal fluctuations, our revenue is typically lower in the first quarter of each year.
Business · 第 194 页
This is primarily attributable to the general slowdown in business and logistical activities across the PRC during and around the Chinese New Year holiday period.
Traditionally, sales are higher in the fourth quarter, which is a peak season in China for the auto industry, mainly due to nationwide auto shows and increasing vehicle purchases near year-end.
Business · 第 158 页
Due to our limited operating history, the seasonal trends that we have experienced in the past may not fully apply to, or be fully indicative of, our future operating results.
北京盛景网联科技服务股份有限公司Beijing Shengjing Wanglian Science and Technology Service Co., Ltd.
附带权益收入集中于下半年确认
The Company's carried interest income is subject to intra-year fluctuations, with the second half of the year generally recording higher carried interest income than the first half of the year.
Business · 第 133 页
In particular, fund distributions are more frequent and substantial in the second half of the year than in the first half of the year, which, in turn, results in a higher quantum of carried interest income being recognised by the Company in the second half of each financial year.
山东宝盖新材料科技股份有限公司Shandong Baogai New Materials Technology Co., Ltd.08090.HK
销售集中于下半年，呈季节性波动
Since our composite trench cover products are primarily for municipal construction, engineering and infrastructure needs, our business experiences predictable seasonal fluctuations in demand, primarily driven by construction activity patterns across different regions.
Financial Information · 第 218 页
Therefore, our deliveries of composite trench cover products are usually concentrated in the second half of the year.
Financial Information · 第 218 页
However, we believe this seasonality factor is not significant and does not have a material impact on our business operations and financial position as our business continues to grow and our brand is being increasingly recognized in the PRC market.
We typically record higher revenue in the second half of the year attributable to the promotional campaigns we held, such as the year-end grand promotion in December, which capitalizes on buyers’ year-end shopping demands.
Business · 第 163 页
We generally experience less user traffic and purchase orders during the Chinese New Year holiday season in the first quarter of each year, when lower-tier market experiences widespread closures as manufacturers halt production and offline retail stores cease operations.
Business · 第 163 页
The degree of seasonality may vary from year to year due to conditions in the industry and other factors, which makes it difficult for us to predict the level of demand with precision.
In general, our revenue in the second half of the year is typically higher than that in the first half.
Business · 第 157 页
This seasonality is typically more evident in printing equipment, and is primarily related to the business arrangements, product launch schedules, and procurement and capacity planning cycles of our downstream customers.
Business · 第 157 页
Notwithstanding the above seasonal and market-cycle factors, our overall operating performance did not exhibit material abnormal fluctuations during the Track Record Period.
The results of operations of our GNSS-related solutions business historically have been seasonal primarily because we typically provide GNSS-related solutions on a project-by-project basis, with delivery and acceptance of these projects typically occurring in the third and fourth quarters during the year.
In line with the industry norms, our in-network medical institutions typically witness fewer customer visits in the first quarter of a calendar year, mainly due to postponed healthcare demands in TCM healthcare services before and during the Chinese New Year holiday.
Financial Information · 第 248 页
Our financial performance for any period of less than a year may not reflect our annual financial results.
Our business exhibits a clear seasonal pattern, with the peak sales period occurring from October to April each year.
Business · 第 153 页
As a result, our revenue and profitability have generally been stronger in the second half of the financial year, and such fluctuations may also affect our sales volumes and the utilization rates of our manufacturing facilities.
Financial Information · 第 207 页
As this fluctuation reflects normal industry trends, we currently do not see the need to implement additional operational efficiency measures to address the off-season.
Although our music catalogue operation is generally not subject to seasonal fluctuations, the performance of our artist management and live entertainment business will be negatively affected by cold weather and the disruptive effect of long holidays, particularly the Chinese New Year.
Financial Information · 第 195 页
Therefore, the revenue from this business segment may be relatively lower in the first quarter.
For example, we generally experience higher sales revenue from our harvesting machines two months before the harvesting season, typically in the second and third quarters of the year, with the minimum sales revenue experienced in the fourth quarter of each year.
Business · 第 145 页
Therefore, we generally have relatively high volume of inventories, especially finished goods by the beginning and end of year. Accordingly, our results of operations fluctuate over the year, and our interim results may not be indicative of our annual results.
Our business operations are subject to seasonality.
Business · 第 180 页
Our sales performance tends to be stronger in the fourth quarter of each year, primarily because our customers typically conduct equipment and process testing during the second quarter and complete the majority of their annual capital expenditure in the third and fourth quarters, leading to our stronger sales in the second half of the year, especially the fourth quarter.
Business · 第 180 页
Our sales performance and production activities tend to be relatively weak in the first quarter of each year, primarily due to the Chinese New Year holidays, while gradually recover during the second quarter.
During the Track Record Period, we generally recorded higher revenue in the second half of each year.
Business · 第 160 页
According to CIC, such seasonality driven by business cycles is common within the enterprise large model-driven business growth industry.
Business · 第 160 页
We therefore typically record lower revenue in the first quarter of each year, and revenue recognized in any single quarter may not be indicative of results for the full year.
Our business is subject to certain seasonality, primarily reflecting consumption patterns in the catering industry. Demand is generally higher prior to the Chinese New Year and National Day holidays, with relatively lower demand in traditional off-peak periods.
Business · 第 129 页
As a result, our diversified customer base and comprehensive product offering have enabled us to generate relatively stable revenue throughout the year, and seasonality has not had a material adverse effect on our overall operations during the Track Record Period.
Financial Information · 第 167 页
This decrease was primarily attributable to (i) a decrease in raw materials due to continued consumption of strategic stock-up conducted in 2024, and (ii) a decrease in finished goods as we stocked up at the end of 2024 in preparation for the Chinese New Year peak season in January 2025, but the stock-up for the Chinese New Year peak season did not occur until January 2026.
During the Track Record Period, we typically experienced stronger revenue during holiday seasons, such as the Chinese New Year, summer break, National Day holiday, and year-end periods, primarily driven by increased customer traffic and dining activities during these times.
Business · 第 145 页
Revenue generated in each season of a year can also fluctuate for other reasons, including the timing of new product launches, and the timing of advertising and promotional activities.
Our business is subject to seasonal fluctuations, which are relatively pronounced in our smart parking systems business.
Financial Information · 第 222 页
Customers in our industry typically tend to formulate their annual budget and procurement plans in the first half of each year, while project contracting and execution are typically performed and completed in the second half, leading to higher revenue generated during such period.
Financial Information · 第 222 页
As of April 30, 2026, RMB87.4 million, or 35.1% of the current portion of our gross trade receivables as of December 31, 2025 had been settled.
To address the impact of such slower months on our revenue, we have proactively adopted various marketing measures and continuously organised a variety of events to attract tourists.
Business · 第 155 页
Our financial performance is influenced by seasonality, as demand for visits to the Park typically peaks during major holidays, school vacations and certain seasonal tourism periods, including Chinese New Year, Labour Day holiday, summer vacation and the National Day holiday.
Financial Information · 第 200 页
As a result, our revenue and operating results may fluctuate within a year, and our quarterly results may not be indicative of our full-year results or future performance.