Which glass-fiber investments had actually progressed
The report distinguishes projects that were commissioned from plans that remained inactive. A medium-alkali glass-fiber furnace renovation rated at 13,000 tonnes per year had an approved CNY 75 million budget but was not implemented because market conditions changed. A 10,000-tonne alkali-free line had an approved CNY 80 million budget; management says it started production in December 2001 and reached design capacity in that month. Yet the year-end construction ledger still records CNY 82.82544816 million for a 10,000-tonne alkali-free furnace-drawing line with no transfer to fixed assets. The commissioning claim and accounting status are both retained; the report does not supply the reconciliation. At Jiujiang, a CNY 64.31 million energy-saving and environmental furnace project was in preconstruction preparation, while a separately budgeted CNY 57.15 million, 25,000-tonne glass-fiber yarn renovation was completed in late April and reached design capacity by year-end. These project ratings must not be added to Jiujiang's 17,400 tonnes of actual annual output. The ledger also shows CNY 165.08416705 million transferred for a 16,000-tonne alkali-free line, CNY 3.41110777 million transferred for a 9,000-tonne medium-alkali line, and CNY 28.98967621 million still in construction for a 6,000-tonne yarn renovation. The 9,000-tonne ledger label does not establish identity with the unimplemented 13,000-tonne plan; the report supplies no reliable line-by-line identity bridge. Warehouse tonnage describes storage, not manufacturing capacity.
- Reported consolidated construction in progress / 2001 / fy2001 10kt ledger closing
- RMB 82,825,448.16
- Transferred to fixed assets / 2001 / fy2001 16kt ledger transfer
- RMB 165,084,167.05
- Reported consolidated construction in progress / 2001 / fy2001 6kt yarn ledger closing
- RMB 28,989,676.21