Huai'an manufacturing base

Huai'an is the Jiangsu location in Jushi's six-base manufacturing network. The filing separately describes high-performance glass fiber production, a new electronic-yarn line and wind-power developments. These are connected activities with different physical and accounting scopes. The base grouping is not a single production line, and the operating wind business is not evidence that the new electronic-yarn line has entered commercial production.

Management reports that phase I of the Huai'an zero-carbon intelligent manufacturing base entered full production in FY2024. Separately, the construction notes name a 400,000-tonne high-performance glass fiber programme operated by Jushi Group Huai'an Co., Ltd., with a closing construction-in-progress balance of RMB 264,736,810.10 and engineering progress of 75%. A first-phase commissioning statement does not mean the entire 400,000-tonne programme was complete, nor does a residual construction balance prove that the operating phase was idle.

Huai'an already had a reported operating milestone in 2024: phase I of the zero-carbon intelligent manufacturing base was fully commissioned, and its supporting 233 MW wind project was fully connected to the grid. The same passage separately discusses a 100,000-tonne electronic-grade glass fiber line and a supporting 500 MW wind project. The commissioned base phase and 233 MW wind assets therefore need to be tracked separately from the later electronic-yarn line and 500 MW construction project. 'Zero-carbon' is the company's project description in this source, not a life-cycle emissions certification established by this guide.