港股IPO招股书披露先例 · 165 家公司，165 项
此类事项指业务收入因假期消费及新品发布周期于下半年较高、第一季受农历新年假期影响而偏低的季节性波动。申请人通常于概要、风险因素、业务及财务资料章节说明季节性成因及季度收入占比等波动幅度，指出部分产品线敏感度较低以限缩影响，解释首季收入基数较低导致的指标变化，并披露库存调整等缓解措施及提示参见风险因素。
From our experience, we generally record relatively higher revenue in the second half of each year which coincides with higher sales of our customers resulted from festivities around the Black Friday, Thanksgiving and Christmas time and year-end promotion events in the second half of a year.
Business · 第 205 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看According to the F&S Report, this seasonality trend is consistent with the industry norm.
Business · 第 205 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our In-network Hospitals and radiotherapy centers, in line with the healthcare service industry in the PRC, typically have fewer patient visits shortly before and after the Chinese New Year, during which most people usually avoid visiting hospitals. As a result of the foregoing, our revenue was slightly lower in the first quarter of each financial year during the Track Record Period.
Business · 第 401 页
Sales of our products and services are subject to seasonality.
Financial Information · 第 490 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看As a result of the seasonality effect and our relatively fixed costs and expenses structure, we may incur greater operation losses in the first half of our financial year than in the second half of our financial year.
Financial Information · 第 490 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看In comparison, in the first quarter of 2025, as N-type TOPCon cells had become the industry mainstream and supply-demand was still in a process of adjustment, we deemed it financially prudent to not book overtime shifts, and as such the holiday season and cold weather's effects on production volume became more pronounced.
Business · 第 325 页
EV sales in China in the second half of the year tends to be higher compared to the first half.
Financial Information · 第 406 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We also experience seasonality in the sales of ESS products, with the first and last quarter of each year recording less sales compared to the second and third quarters.
Financial Information · 第 406 页
Our business is slightly affected by seasonality. We usually record higher sales revenue during holidays and festivals, such as Chinese New Year and anniversary of our Group. We also usually record a higher sales revenue during September to February of the next year, as there are more Chinese traditional festivals during this period.
Business · 第 287 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看In view of the seasonality factors, we usually review and adjust our inventory level in advance in order to accommodate the anticipated increase in demand and needs of our products to avoid supply shortage and our loss of profits.
Financial Information · 第 396 页
In particular, due to the impacts of the public holidays such as the Spring Festival and the stocking and sales cycles of customers before or around holidays, we typically experience higher sales in the second and fourth quarters throughout the year.
Financial Information · 第 377 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看As we continue to enrich our product portfolio and launch innovative products for novel applications in various industry sectors, including automotive electronics, data centers and renewable energy, in addition to consumer electronics, we expect to reduce the impact of seasonality with this increased diversity.
Financial Information · 第 377 页
Mass production by OEMs tends to be more concentrated in the second half of the year, typically peaking in the fourth quarter.
Business · 第 304 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看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.
Financial Information · 第 376 页
Our business is affected by seasonality. We generally derive a higher amount of revenue from sales of our products in the third and fourth quarters of the year, i.e., during the autumn and winter seasons.
Business · 第 159 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our Directors believe that this seasonal pattern is primarily due to (i) the weather during the autumn and winter seasons may cause more allergies and other symptoms and thus increase demand of end-customer on health supplements; and (ii) the timing of exhibitions and trade fairs, such as the Hong Kong Brands and Products Expo and HKTDC Food Expo.
Business · 第 159 页
Our parcel volumes during the Track Record Period were subject to seasonal fluctuation, primarily due to the impact of major shopping events and Chinese New Year.
Business · 第 280 页
We typically experience a peak in parcel volumes during shopping events such as China’s online shopping events on November 11 and June 18, and experience comparatively lower parcel volumes during Chinese New Year.
Business · 第 280 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We believe that this pattern is likely to continue in the foreseeable future.
Business · 第 280 页
Our business historically has been seasonal in nature.
Financial Information · 第 397 页
For example, the overall demand for our Asia – Oceania market is highly seasonal, with the peak typically occurring in the second half of the year.
Financial Information · 第 397 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看The third quarter of each calendar year is the traditional peak season for the Transpacific, the Asia – Oceania and the Asia – Europe markets, as overseas sellers prepare for the Christmas and New Year holidays.
Business · 第 281 页
Our customers usually experience a slow season/off-season in their sales volumes during and following the Chinese New Year holidays in the first half of the year, and thus can have an impact on our results of operations in the first quarter.
Financial Information · 第 376 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Such fluctuations are seasonal in nature and you are cautioned not to place undue reliance of them as indicators for our results of operations for the full year.
Financial Information · 第 376 页
We have experienced seasonality during the Track Record Period to some extent.
Business · 第 284 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We mainly observed some periodical patterns in our business because some of our customers tend to carry out project design and budget applications in the first half of the year before implementing said projects in the second half of the year.
Business · 第 284 页
We experience seasonal fluctuations in our revenues and results of operations.
Business · 第 287 页
We have historically experienced relatively lower revenue during the first quarter of a year mainly due to Chinese Lunar New Year, and relatively higher revenue in the fourth quarter of a calendar year mainly due to increasing spending or purchases by our customers for our SaaS and SaaS value-added products and services as a result of a high concentration of festive seasons and other marketing campaigns.
Business · 第 287 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Overall, the impact of seasonality on our business has been relatively mild due to our rapid growth.
Business · 第 287 页
For example, in the first quarter, which coincides with the Chinese New Year holiday, online and offline hospitals and pharmacies in China generally experience a lower volume of patient visits and other activities, and we typically expect a lower demand for our services and products during that period as a result.
Business · 第 281 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看However, given our significant growth during the Track Record Period, the effect of seasonality on our operating results was not particularly apparent, and seasonal factors had minimal impact on our overall business and financial performance.
Business · 第 281 页
We have experienced, and expect to continue to experience, seasonality in our business.
Business · 第 334 页
For example, during the Chinese New Year holiday in the first quarter of each year, fewer drivers are active, and there is typically less demand.
Business · 第 334 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We usually experience spikes in order volume in summer and winter during which seasons individuals typically have stronger demands for ride-hailing services.
Financial Information · 第 463 页
As such, during the Track Record Period, the Group would typically record a higher portion of revenue for its Telecommunications Infrastructure Services business segment and its Digitalisation Solution Services business segment during the second half of the year.
Business · 第 199 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看As further confirmed by the Directors, it was mainly due to the fact that the Group’s major customers generally tend to invest more in capital expenditure later in the year.
Business · 第 199 页
We have experienced, and we expect to continue to experience, seasonality in our business.
Business · 第 267 页
For example, we generally experience less user traffic during the Chinese New Year holidays in the first quarter of each year.
Business · 第 267 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We expect our revenue to continue to fluctuate based on seasonal factors that affect China's carpooling and taxi industries.
Business · 第 267 页
Our sales performance is affected by seasonality.
Business · 第 204 页
As such, the demand for our products is generally higher before the Chinese New Year holidays and is generally lower during the Chinese New Year holidays.
Business · 第 204 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Thus, we recorded the sales revenue of approximately HK$44.3 million and HK$52.5 million for the first quarter of 2021 and 2022, respectively, and approximately HK$58.0 million, HK$60.9 million for the last quarter of 2021 and 2022, respectively.
Business · 第 204 页
Sales volume of used vehicle in China are typically higher in the first quarter (particularly before the Chinese New Year) and fourth quarter of a year, traditionally the major selling seasons for used vehicles.
Business · 第 308 页
In line with industry practice, most of our auto shows and exhibitions take place in the second half of the year.
Business · 第 308 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看To mitigate the fluctuation during the low seasons, our auction sites have introduced, and plan to continue to introduce, a variety of promotional and marketing activities based on the transaction volume and level of buyers’ participation at the respective auction sites.
Financial Information · 第 343 页