China Jushi FY2012: Business overview

Revenue reached RMB 5.1030824 billion in 2012. Management attributed revenue growth to higher volumes and described softer demand and selling prices, trade pressures, and higher energy and labour costs. Operating profit declined despite the modest rise in revenue. Its response centred on technology, lower costs and management integration. These disclosures explain why revenue, tonnage and profitability can move differently, without turning the operating account into a stock-market recommendation.

The annual report names the listed issuer as CHINA FIBERGLASS CO., LTD, abbreviated CFG, with Shanghai A-share code 600176. This is the historical issuer name for the China Jushi research record, not another company inserted into the operating database. The listed parent is distinct from Jushi Group, its glass-fiber manufacturing subsidiary, and Beixin Technology Development, its building-material trading subsidiary. The report lists the registered and office address at Wanghai Building C, No. 10 West Third Ring Middle Road, Haidian District, Beijing. This historical administrative address is not substituted for a manufacturing-site address or a current headquarters location. The permitted business scope had changed over earlier years and, in 2011, included new-material technical services, selling glass fiber and building materials, and enterprise/asset management. Permitted activities provide legal-scope background rather than proof that each activity produced revenue in FY2012.