SINOFILINGS / BUSINESS LIBRARY600176 / PUBLISHED
Annual business review / fy2018-financial-acceptance-20261006

China Jushi FY2018: Manufacturing bases

Manufacturing footprint and disclosed production capabilities.

Evidence-linked English operating research. The source and stated coverage below define the scope of this version. Source-page links provide optional verification; the English account is intended to stand on its own.

Reporting period ended 2018-12-31 / Filing published 2019-03-21
Content version 15 / 08254139b817 / PUBLISHED

Manufacturing and business relationships

Egypt: supporting works and the 200,000-tonne base

Supporting projects at the Egyptian base were successively completed and put into operation, and the 200,000-tonne manufacturing base was declared fully built. This base-wide disclosure follows the separately tracked 80,000-tonne, 80,000-tonne and 40,000-tonne phases. The annual passage describes completion of the base and its supporting assets, rather than another independent 200,000-tonne addition to be counted on top of those lines.

Production staffing and outsourced labor define the operating scope

The employee table covers the parent and principal subsidiaries: 111 parent employees and 11,118 subsidiary employees, totaling 11,229. It classifies 7,956 as production staff and 1,646 as technical staff. The separate research-personnel figure is a different category and should not be added to these classifications to estimate headcount. Outsourced labor remuneration is CNY 39,240,000, but the issuer says varied billing methods prevent a common outsourced-hours measure. This matters to production organization and the scope of labor-cost comparisons, not to an invented full-time-equivalent number. Generic training-session plans, welfare activities and education tables are omitted from this account where they do not establish a specific production constraint or measured outcome.

Parent and principal-subsidiary employees / 2018 / FY2018 A share/CAS. Parent and principal subsidiaries; category not additive to research personnel category.
11,229 people
Production staff in employee table / 2018 / FY2018 A share/CAS. Parent and principal subsidiaries; category not additive to research personnel category.
7,956 people
Technical staff in employee table / 2018 / FY2018 A share/CAS. Parent and principal subsidiaries; category not additive to research personnel category.
1,646 people
Reported outsourced labor remuneration / 2018 / FY2018 A share/CAS. Annual remuneration, outsourced hours unavailable; not outsourced FTE.
RMB 39,240,000

Construction completion changes asset classification

Property, plant and equipment closed at CNY 16,419,009,319.54, compared with CNY 13,415,339,996.11 at opening. Management attributes the increase mainly to new and upgraded lines transferred from construction. The gross fixed-asset movement records CNY 3,678,423,326.40 transferred from construction, together with CNY 312,778,420.81 of associated accumulated depreciation; these gross-table amounts are not the net transfer subtotal in the important-project schedule. Conversely, CNY 907,351,626.46 of gross fixed assets and CNY 534,902,649.12 of accumulated depreciation moved back into construction. Asset changes therefore include classifications and existing assets, not only new cash purchases. The policy transfers construction when ready for intended use, including provisional values before final settlement; depreciation starts the following month. A transfer does not establish full utilization or a complete year of sales.

Closing net PPE / 2018 / FY2018 A share/CAS.
RMB 16,419,009,319.54
Opening net PPE / 2018 / FY2018 A share/CAS.
RMB 13,415,339,996.11
Gross PPE transferred from construction / 2018 / FY2018 A share/CAS.
RMB 3,678,423,326.4
Associated depreciation transferred from construction / 2018 / FY2018 A share/CAS.
RMB 312,778,420.81
Gross PPE transferred back to construction / 2018 / FY2018 A share/CAS.
RMB 907,351,626.46
Associated depreciation transferred back to construction / 2018 / FY2018 A share/CAS.
RMB 534,902,649.12

Land and mineral rights are not cash or independently verified reserves

Closing intangible assets included CNY 447,667,193.79 of land-use rights and CNY 115,128,549.26 of mining rights. Land-use-right purchases were CNY 39,900,960.00 in the asset-movement table, not necessarily cash paid on that same date. The policy amortizes mining rights using actual extraction and reserves; the carrying value does not independently establish mine location, remaining ore tonnes or a quantified raw-material self-sufficiency rate. Patents and non-patented technology are separate asset categories and are not a substitute for the annual research-expense or product-commercialization disclosures. A different fixed-asset note identifies the Beite factory building with CNY 27,557,124.79 of carrying value awaiting a property certificate, described by the issuer as within the normal processing period; this is not an independently verified title or an inferred operating ban.

Land-use rights carrying value / 2018 / FY2018 A share/CAS.
RMB 447,667,193.79
Mining rights carrying value / 2018 / FY2018 A share/CAS.
RMB 115,128,549.26
Land-use-right purchases in asset movement / 2018 / FY2018 A share/CAS.
RMB 39,900,960
Beite building awaiting certificate carrying value / 2018 / FY2018 A share/CAS.
RMB 27,557,124.79

Read the complete annual research snapshot

Sources and scope

What this guide establishes

  • Important business9-13, management14-22, governance23-56 and financial57-150 have completed material-selection comparison. Unexplained allowance and expense bridges, pledge wording and project capacity/stage differences remain preserved; selected-material completion does not reconcile them. Independent editorial approval and source-use permission are separate requirements.
  • Event dates stated in the text may differ from the reporting year. Later events disclosed before filing are identified explicitly; later annual reports are not inserted into this historical account.
  • The Chinese source was translated and compared with the cited pages in separate passes by the same assistant. Independent editorial review and publication approval remain pending.
  • Capacity, production, sales, project budgets and construction expenditure are different measures. Repairs and programme phases are not automatically incremental capacity.
FY2018 full annual report ↗
Chinese / A-share / Chinese Accounting Standards / Published 2019-03-21
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