港股IPO招股书披露先例 · 72 家公司，72 项
第四季收入集中指因节假日购物旺季、客户年度预算周期、项目验收安排或经销商年末备货等因素，销售或收入集中于第四季度的季节性现象。申请人一般在概要、风险因素、业务及财务资料章节披露季度收入分布、集中成因及相关影响，常引述行业顾问意见说明该模式符合行业惯例且预计持续，并披露调整业绩考核周期、提前备料排产、加强需求预测等应对安排。
Our sales are subject to seasonal fluctuations in the NEV markets, which are influenced by OEM procurement cycles.
Business · 第 158 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, our sales may be higher in the second half of the year, especially in the fourth quarter due to increased deliveries by OEMs at the end of the year.
Business · 第 158 页
We are subject to slight seasonality that impacts our financial performance, driven by our customers' business practices.
Business · 第 174 页
many customers tend to concentrate their order placements and/or complete their inspection toward the end of the calendar year driven by their annual budget practices, and (ii) customers generally tend to schedule their procurement before or after the Spring Festival in China as well as the major holidays in overseas markets, many of which are in the fourth quarter, to avoid potential supply chain issues associated with the holidays.
Business · 第 174 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看According to Frost & Sullivan, such seasonality is generally prevalent in the industrial robotics market.
Business · 第 174 页
Based on our internal records, our shipment volume typically trends lowest in the first quarter and increases gradually thereafter, with the fourth quarter accounting for approximately 40.0% of our total annual shipment volume during the Track Record Period.
Business · 第 193 页
For example, based on our management account, our revenue for the fourth quarter of the year of 2023, 2024 and 2025 accounted for approximately 42.0%, 36.0% and 31.0% of our respective full-year revenue, which is broadly consistent with the fourth-quarter share of our sales volume in the same periods.
Business · 第 193 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 impact of seasonality on our operations and financial performance, we adopt a number of measures in line with industry practice, including (i) conducting rolling forecasts and production planning with our major OEM customers to align our production schedules with their latest demand and model launch timetables, (ii) managing our inventory and production capacity in a disciplined manner, such as setting appropriate safety stock levels for key products and flexibly arranging shifts and utilization of production lines to handle order fluctuations between the first and second half of the year, (iii) actively managing our working capital and liquidity, including negotiating payment terms with customers and suppliers and making prudent use of bank facilities during peak production periods, and (iv) continuing to broaden our customer and product portfolio so that our overall business is supported by projects with different SOP timetables and sales cycles.
Business · 第 194 页
We typically observe sales increase in the fourth quarter due to festivals such as the Thanksgiving, Christmas and shopping events like Black Friday.
Business · 第 124 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We expect these trends to continue in the foreseeable future.
Business · 第 124 页
In particular, sales of our components typically show a low season in the first half of the year and a peak in the second half, especially in the fourth quarter, which largely reflects end-consumers’ vehicle purchasing patterns.
Business · 第 119 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看To ensure efficient utilization of our production capacities, we plan ahead based on expected seasonal demand based on our extensive industry experience and arrange sales and production schedules accordingly.
Business · 第 119 页
Our business is subject to seasonal fluctuations and generally experience higher revenue recognition and profitability in the fourth quarter of each year.
Business · 第 161 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看This increasing trend was primarily attributable to the seasonality of our business, as a significant portion of our product deliveries and customer acceptance are concentrated toward year end.
Financial Information · 第 219 页
We typically generate a relatively higher proportion of our revenue during the fourth quarter of each year, as most projects that are typically approved in the beginning of the year are typically delivered to and accepted by our customers by the end of the year, which, according to Frost & Sullivan, is an industry norm.
Business · 第 144 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Our customers' procurement patterns are also influenced by budget cycles, with a significant portion of annual sales typically recognized in the fourth quarter.
Financial Information · 第 192 页
During the Track Record Period, we generally recognized more revenue in the fourth quarter of a year, primarily due to the timing of inspection and acceptance of our products and solutions by certain customers resulting from their fiscal arrangement subject to their internal policies and protocols.
Financial Information · 第 224 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看As we believe that this pattern is likely to continue in the foreseeable future, quarterly comparisons of our operating results may not be useful and our results of operations in any particular period will not necessarily be indicative of the results of operations to be expected for any future period.
Financial Information · 第 224 页
We typically recognize higher revenue in the second half of the year, especially in the fourth quarter, as our customers often seek to complete system deployment and acceptance before the end of the financial year and therefore, larger portion of the delivery and acceptance of our products and services take place in the second half of the year.
Financial Information · 第 149 页
According to Frost & Sullivan, such seasonality is generally consistent with industry practice.
Financial Information · 第 149 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We have experienced, and expect to continue to experience, seasonal fluctuations in our business, financial position and results of operations depending on the relevant time of a year.
Business · 第 128 页
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 · 第 134 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, 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.
Business · 第 134 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看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.
Business · 第 120 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看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.
Business · 第 172 页
Our sales of smart pool equipment are subject to seasonal fluctuations, driven primarily by outdoor swimming and pool usage habits in overseas markets.
Business · 第 124 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Demand generally peaks in the fourth quarter of each year to support pre-season stocking by downstream customers, ahead of the peak summer pool season in the following year across major overseas regions.
Financial Information · 第 174 页
Historically, we typically recorded higher revenue in the last quarter of each year.
Financial Information · 第 189 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 are not indicative of our results of operations for the full year.
Financial Information · 第 189 页
Accordingly, our product sales are influenced by seasonal trends and we generally record lower sales during the first quarter and higher sales in the fourth quarter.
Financial Information · 第 219 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看In particular, ESS sales increase towards year-end due to factors such as preparations for winter climate, higher energy usage for heating during cooler months, and to meet year-end deadlines for government incentives.
Financial Information · 第 219 页
During the Track Record Period, our ESS battery business accounted for a significant proportion of our total sales and experienced period-to-period fluctuations in revenue primarily due to the schedule of certain ESS projects, which as a result showed a sales peak in fourth quarter.
Financial Information · 第 213 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看These major customers of our ESS battery business typically plan their projects early in the year and schedule deliveries and acceptances for the fourth quarter.
Financial Information · 第 213 页
We are subject to seasonality with revenue typically peaking in the fourth quarter of each year.
Business · 第 146 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We prepare for these seasonal fluctuations by adjusting inventory levels, strengthening customer support and logistics capacity, and increasing marketing activities ahead of peak demand.
Business · 第 146 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 revenues to continue to fluctuate based on seasonal factors that commonly affect e-commerce of consumer goods. In addition, we generally experience higher sales volume on third-party e-commerce platforms, such as Tmall and JD.com, during the marketing activities and shopping seasons, for example, the Double 11 Shopping Festival and the 618 Shopping Festival. We also expect to be more exposed to overseas shopping events including Black Friday, given the expansion of our overseas e-commerce operations. Our revenue from these e-commerce platforms is generally significantly higher in the fourth quarter compared to the rest of the year due to shopping festivals.
Business · 第 145 页
Our product sales are affected by the inherent seasonal demand fluctuations in the automotive industry.
Business · 第 144 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看We experienced highest sales volume in the fourth quarter as our OEM customers closed for the Chinese New Year holiday in the beginning of the year and closed for holidays and/or model year changeovers in the summer during the Track Record Period.
Business · 第 144 页
According to Frost & Sullivan, the fourth quarter is generally considered a traditional peak season for the automotive industry, primarily driven by active nationwide auto shows and increased vehicle purchasing activities near year-end.
Business · 第 230 页
公司的解释、律师意见及原文页码定位：在 Matters 中查看Consequently, our business has historically experienced, and we expect to continue to experience, relatively higher demand for our services in the fourth quarter of the calendar year.
Business · 第 230 页