SINOFILINGS / BUSINESS LIBRARY600176 / PUBLISHED
Company overviewSearch operating research
Annual reviews (25)
FY2025 annual reviewFY2024 annual reviewFY2023 annual reviewFY2022 annual reviewFY2021 annual reviewFY2020 annual reviewFY2019 annual reviewFY2018 annual reviewFY2017 annual reviewFY2016 annual reviewFY2015 annual reviewFY2014 annual reviewFY2013 annual reviewFY2012 annual reviewFY2011 annual reviewFY2010 annual reviewFY2009 annual reviewFY2008 annual reviewFY2007 annual reviewFY2006 annual reviewFY2005 annual reviewFY2004 annual reviewFY2003 annual reviewFY2002 annual reviewFY2001 annual review
China JushiFY2021Overview
FY2021 overviewProducts and glass-fiber technologyManufacturing basesProjects and construction progressSubsidiaries and invested companiesMarkets, customers and suppliersCash generation and working capitalDebt and related-party balancesOperating risks and business commitmentsSite operations and environmental evidence
Annual business review / fy2021-financial-material-close-20261005

China Jushi FY2021: Business overview

Annual operating overview and a source-linked guide to the detailed research topics.

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 2021-12-31 / Filing published 2022-03-19
Content version 18 / 53cb82df6759 / PUBLISHED

Explore this year by topic

Products and glass-fiber technologyProducts, applications, research and commercial progress.Manufacturing basesManufacturing footprint and disclosed production capabilities.Projects and construction progressNamed projects, stages, capacities and construction evidence.Subsidiaries and invested companiesOrganizational roles, reported holdings, operating figures and reporting boundaries.Markets, customers and suppliersProduct and geographic economics, channels and disclosed trading relationships.Cash generation and working capitalCash flows, receivables, inventory and accounting context.Debt and related-party balancesFunding, maturities and related-party settlement obligations.Operating risks and business commitmentsBusiness risks, guarantees, integration commitments and treasury oversight.Site operations and environmental evidenceWorkforce and site-level operating disclosures, permits and evidence gaps.

Business and operating model

Higher volumes and prices expanded the materials business

Total operating revenue was RMB 19,706,882,079.97, up 68.92%. Management attributed growth to higher product volumes and prices. Glass fiber and related products generated RMB 17,844,653,072.20, or 90.55% of total revenue. The operating discussion describes a more balanced development of roving and fine yarn and fabric, alongside more thermoplastic and high-strength, high-modulus products. Portfolio emphasis is not a numerical sales breakdown for each grade.

Reported disclosureFY2021 annual report, p. 11 ↗FY2021 annual report, p. 12 ↗FY2021 annual report, p. 9 ↗

Markets and operating development

Demand, direct sales and manufacturing geography

Management linked stronger materials demand to vehicle lightweighting and electronics, including PCB-related demand for fabric. Domestic sales represented 67.15% of main-business sales and direct sales represented 86.25%. The top five customers represented 18.59% of annual sales. Manufacturing remained distributed across Tongxiang, Jiujiang, Chengdu, South Carolina and Suez. Customer concentration, sales channel and site geography are distinct parts of this operating model.

Reported disclosureFY2021 annual report, p. 12 ↗FY2021 annual report, p. 13 ↗FY2021 annual report, p. 11 ↗

Plans and reading context

Read the complete annual research snapshot

Sources and scope

What this guide establishes

  • This page presents selected business disclosures from the FY2021 full annual report. It is not an exhaustive extraction of every disclosure.
  • 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.
  • Product, market, research and investment disclosures retain their original reporting scope. Industry estimates, future plans, committee decisions and accounting transfers are not verified output, orders or completed permitting. Unspecified factory and project-phase identities remain unresolved.
  • Organizational investment-table figures cannot be summed as issuer totals or allocated to plants. Production metals, rights, relocation and grants, inventory allowances, credit exposure, cash, funding principal and carrying values have different scopes. Source-reported compliance and historical tax certificates are not independent current assurance.
  • The reviewed treasury contract-return total and consolidated wealth-management income differ by CNY 69,063.78; the cited tables do not explain the difference. The source also has inconsistent CNBM role classifications, a wastewater-standard reference anomaly and ambiguous minor-holder labels. No missing explanation or corrected label is invented.
  • Historical site compliance, permits, monitoring logs and the separate full internal-control audit have not been independently verified. Printed role, environmental-standard and minor-holder-label anomalies remain unresolved.
  • FY2021 management and financial important-content selection is complete under the reader-focused editorial rule, with ordinary detail condensed and the original source retained. This is not full transcription or independent editorial approval. Selected disposal, parent allowance, restructuring and treasury-return differences remain unexplained; no new cash, project allocation or mining activity is inferred. Commercial source-use basis and independent editorial review remain pending.
FY2021 full annual report ↗
Chinese / A-share / Chinese Accounting Standards / Published 2022-03-19
PDF SHA-256: 645ab5ecd596b8061fa6d1a5669064ddbe305139f27cda2c59df1fb6b4574ac0