Tongxiang 50,000-tonne yarn and 160-million-metre fabric cold repair

Tongxiang completed cold repair and upgrading of a line with stated annual capacities of 50,000 tonnes of electronic yarn and 160 million metres of supporting electronic fabric. Management says it quickly reached design performance and production. The project concerns repair of an existing line; its capacities are not automatically new group additions. It is kept separate from the 60,000-tonne phase-I intelligent-base line because the passage does not establish that they are the same furnace.

Annual production capacity

50,000 tonnes/year

The Tongxiang electronic-materials cold repair covers planned annual capacity of 50,000 tonnes of electronic yarn and 160 million metres of electronic fabric. Its reported budget was CNY 634,358,600. FY2023 accounting additions were CNY 271,318,268.61; CNY 937,445,360.46 transferred into fixed assets and CNY 3,986,909.25 was recorded as other reductions. The closing construction cell is blank. The table reports 100% progress and a separate 55.82% cumulative investment-to-budget indicator. Those reported measures are preserved even though they cannot be reconstructed simply by dividing the table’s carrying-value movements by its budget. No unsupported explanation is supplied for that difference. This is refurbishment of the existing electronic-materials project, not evidence of an additional identical new line; progress and capitalization do not quantify saleable output or utilization.

Reported construction budget / 2023 / tongxiang programme budget

RMB 634,358,600

Reported construction carrying-value additions / 2023 / tongxiang programme additions

RMB 271,318,268.61

Issuer-reported construction progress / 2023 / tongxiang programme progress

100%

Issuer-reported investment-to-budget ratio / 2023 / tongxiang programme budget ratio

55.82%

Reported transfer into fixed assets / 2023 / tongxiang programme transfer

RMB 937,445,360.46

The Jushi Group electronic-materials cold-repair row covers annual capacities of 50,000 tonnes of electronic yarn and 160 million metres of supporting electronic fabric, with a budget of CNY 634,358,600. FY2022 additions and the closing construction account are both CNY 670,114,001.10; the opening and fixed-asset-transfer cells are blank. The issuer reports 30% engineering progress and a printed 12% investment-to-budget indicator. This is the electronic-materials repair account held in the project profile; the FY2022 table does not report completion or give a numbered phase, and later completion is not backdated into this account. Additions include accounting transfers under the table’s footnote and are not the separately described actual-investment measure; neither closing value divided by budget nor additions divided by budget substitutes for the printed 12%. No guessed corrected percentage or cash spend is supplied. This is refurbishment of an existing electronic-materials line, separate from the 100,000-tonne/300-million-metre new-build account and not automatically incremental group capacity.

Reported construction budget / 2022 / FY2022 annual construction/asset table; reported scope and units. Accounting movement is not cash spending; reported progress and investment ratios are separate.

RMB 634,358,600

Reported construction carrying-value additions / 2022 / FY2022 annual construction/asset table; reported scope and units. Accounting movement is not cash spending; reported progress and investment ratios are separate.

RMB 670,114,001.1

Issuer-reported construction progress / 2022 / FY2022 annual construction/asset table; reported scope and units. Accounting movement is not cash spending; reported progress and investment ratios are separate.

30%

Issuer-reported investment-to-budget ratio / 2022 / FY2022 annual construction/asset table; reported scope and units. Accounting movement is not cash spending; reported progress and investment ratios are separate.

12%

Reported closing construction carrying value / 2022 / FY2022 annual construction/asset table; reported scope and units. Accounting movement is not cash spending; reported progress and investment ratios are separate.

RMB 670,114,001.1