Tongxiang 80,000-tonne alkali-free line

The Tongxiang expansion is described as a combined 80,000-plus-20,000-tonne alkali-free glass-fiber furnace drawing line. The operating narrative dates formal production to 18 March 2006, also states an ignition-and-production date of 8 January, and says design output was reached on 1 May and exceeded by 10%. These are the issuer’s differently labelled milestones, not a reconstructed single start date or measured full-year utilization. It reports 83,000 square metres of building area and describes oxygen combustion in the melting furnace and forehearth, large bushings with multiple drawing paths, in-line chopping and automated logistics. Page 14 prints investment as 99,901 units of CNY 100 million, whereas the specific investment section on page 20 prints 99,901 units of CNY ten thousand, equivalent to CNY 999.010 million. Both original pages have been checked. The latter amount is presented as the project-specific investment disclosure, with the contradictory narrative unit explicitly retained; no inferred correction is made to the original field or historical snapshot. Separately, construction project 210, explicitly labelled the 80,000-plus-20,000-tonne line, transferred CNY 834.642 million into fixed assets in FY2006. That accounting transfer is not the project’s total investment or cash paid during the year. The structured investment field records only the specific disclosure on page 20. It is not an independently reconciled project budget, a substitute for cash expenditure or a correction of the contradictory page 14 unit.

Reported project total investment / 2006 / tongxiang 80kt plus 20kt project specific investment fy2006

RMB 999,010,000

The FY2005 annual report explicitly dates commissioning of Jushi Group's 80,000-tonne alkali-free tank-furnace drawing line to 18 March 2006. This is a subsequent operating milestone disclosed before publication of that filing, not commissioning during 2005. The business discussion also says the 80,000-tonne and 20,000-tonne lines commissioned in March 2006 and that the company then had more than 300,000 tonnes of capacity. Only the 80,000-tonne line receives the specific 18 March date here. Capacity after those events is kept separate from the report's 210,000-tonne production-capacity figure for 2005; commissioning and design capacity do not themselves establish a full-year realized output or customer-delivery volume.

The report describes a proportional Jushi Group capital increase to support an 80,000-tonne alkali-free line and a separate 20,000-tonne environmental alkali-free line. The specified additional capital totaled USD 63.2 million, including the listed company's USD 37.8568 million share. The investment discussion says business-registration formalities for the increase were complete. The subsidiary note nevertheless says some foreign shareholders' payments remained incomplete at 31 December 2005. The amounts allocated to shareholders, registration of capital and receipt of all cash contributions are therefore separate milestones. These capital amounts are not stated as either line's full construction budget or cash expenditure. The 80,000-tonne line remains a distinct operating object; the combined Project 210 construction account includes both lines, so its full carrying balance is not assigned to the 80,000-tonne line alone.