I took a look at the Dog Days, Made in China Yearbook 2018. The epub version which downloaded as "fixed.epub" is a fixed layout epub3 book. Looking at the structure of the ebook, every XHTML file is a single page. You might actually be better off using the PDF file as the starting point for your conversion.
When I started the conversion from EPUB to AZW3, the memory use started climbing and after 6 minutes had gone over 8GB with the CPU sitting around 22% (calibre and associated worker modules).
Conversion has been running for 16 minutes and has jumped from 1% to 47% where I suspect it will be sitting for quite a while going by previous conversions.
I've attached a couple of images. One is from Windows Task Manager, the other is from the epub as rendered on a Kobo Clara HD.
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