China Jushi FY2021: Debt and related-party balances

The fixed-asset note identifies CNY 25,192,197.98 of Jushi Group Beite factory buildings whose property certificates were still being processed at year-end. The amount is a building carrying value, not a fine, unspent project budget or land price. This is a specific title qualification; it does not establish that the factory lacked every production or environmental permit or had stopped operating. The note gives no individual certificate number, issue date or precise address. No other property is identified solely from a similar name. The CNY 96,374,286.28 Chengdu whole-factory-relocation clearance amount in the same page is in the opening column, not a closing asset or FY2021 payment to add to these buildings.

Reported assets awaiting property certificates / 2021 / FY2021 consolidated construction/asset note; original scope and units. Accounting movements are not cash spending. Engineering progress and issuer investment to budget ratios are separate.

RMB 25,192,197.98

The disclosed agreement for the new-materials intelligent manufacturing base provides a CNY 400 million reward, with 90% for research and supporting work and 10% for equipment investment. Jushi Group reports receiving CNY 80 million in each of 2019, 2020 and 2021. The FY2021 receipt is CNY 80 million, not an additional CNY 400 million paid that year, and contains CNY 8 million of equipment-related support. The equipment-related deferred account opens at CNY 14,277,777.70, adds CNY 8,000,000.00, releases CNY 1,722,222.36 into income and closes at CNY 20,555,555.34. The separate current-income reward of CNY 72,000,000.00 plus that release explains CNY 73,722,222.36 of new-materials reward recognized in other income. Releasing an earlier deferred amount is not another cash receipt. This is support for the disclosed base and research/infrastructure scope, not verified research commercialization, annual customer revenue or an award allocated to a numbered furnace. The grant description does not independently identify which electronic-yarn or fabric line receives each part.

Named grant cash received / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 80,000,000

New deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 8,000,000

Asset grant released to income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 1,722,222.36

Closing deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 20,555,555.34

Recognized named grant income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 73,722,222.36

Jushi Group Chengdu’s high-performance advanced manufacturing-base account receives CNY 27.34 million under one Qingbaijiang supplemental agreement and CNY 200 million under a third supplemental agreement for fixed-asset investment in the completed base. Together they match the CNY 227,340,000.00 additions in the main deferred-grant account. An opening CNY 4,810,166.67 plus those additions, less CNY 9,636,281.93 released into other income, leaves CNY 222,513,884.74 deferred. The source identifies the base and implementing company, but does not allocate this base-wide support to a particular chopped-strand furnace. A separate provincial industrial-development grant of CNY 10,913,000.00 was received in FY2021; it releases CNY 571,131.99 and closes at CNY 10,341,868.01 deferred. These are separate disclosed grants and cannot be folded into a single CNY 227.34 million receipt. Under the stated policy, asset-related grants are recognized systematically over the related assets’ useful lives. Their deferred balances are neither new physical production nor unspent cash balances, and the construction readiness, compensation-receivable and government-support accounts retain different scopes.

New deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 227,340,000

Asset grant released to income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 9,636,281.93

Closing deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 222,513,884.74

New deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 10,913,000

Asset grant released to income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 571,131.99

Closing deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 10,341,868.01

The grant note names Jushi USA’s JS304 project as a 96,000-tonne-per-year alkali-free glass-fiber tank-furnace drawing line. A 28 May 2016 memorandum with Richland County, the South Carolina Department of Commerce and the state economic-development coordinating body recommended support for site preparation, infrastructure and improvements to land and real property. The issuer reports historical grant receipts equivalent to CNY 29.9067 million in 2018 and CNY 38.9698 million in 2019. The FY2021 deferred account starts at CNY 60,354,980.68, releases CNY 4,017,535.87 into income and records CNY 1,335,414.06 of other reductions, closing at CNY 55,002,030.75. The reviewed table does not specify the cause of that other-reduction entry; it is not described here as new cash or an assumed translation movement. The 96,000-tonne grant scope is also used in the trial-stock note, which states that all of the line’s trial products had been sold externally by year-end. That commercial milestone does not establish design-capacity utilization or receipt of every customer payment. The grant scope is retained without an automatic match to a differently stated 80,000-tonne operating project or the separate California sales company. Historical support does not establish a current grant entitlement.

Asset grant released to income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 4,017,535.87

Other decrease in deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 1,335,414.06

Closing deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 55,002,030.75

Four other deferred accounts concern earlier manufacturing-support awards rather than new FY2021 production lines. Jushi Group’s glass-fiber-waste reuse project received CNY 7 million in 2012; its FY2021 income release is CNY 335,254.87 and closing deferral CNY 3,604,628.06. A 360,000-tonne intelligent-manufacturing application programme received CNY 45 million in each of 2016 and 2020; it releases CNY 7,500,000.00 and retains CNY 64,375,000.00 deferred. Jiujiang’s green-manufacturing system-integration programme received CNY 8.7 million in 2017 and CNY 6.09 million in 2020; it releases CNY 1,483,065.95 and closes at CNY 11,412,871.63. A separate Jiujiang high-strength/high-modulus intelligent-manufacturing application received CNY 8.55 million in 2018. Its FY2021 account releases CNY 525,000.00 into income and records CNY 2,250,000.00 of other decreases, reducing CNY 8,550,000.00 opening to CNY 5,775,000.00 deferred. The other-decrease cause is not explained on the reviewed pages. These notes show historical support for manufacturing processes and resource use, but do not independently certify environmental performance, quantify achieved throughput or prove new capacity. The programme descriptions are not merged with later construction bases or repairs merely because their intelligent-manufacturing themes overlap.

Asset grant released to income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 335,254.87

Closing deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 3,604,628.06

Asset grant released to income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 7,500,000

Closing deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 64,375,000

Asset grant released to income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 1,483,065.95

Closing deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 11,412,871.63

Asset grant released to income / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 525,000

Closing deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 5,775,000

Other decrease in deferred asset grant / 2021 / FY2021 issuer consolidated rights/grants/tax note; stated scope and original unit. Accounting rights are not verified permits; receipts, income, deferrals, tax bases and tax amounts are distinct.

RMB 2,250,000

At 31 December 2021, short-term borrowing is CNY 3,933,815,389.52: CNY 457,377,874.05 secured by mortgages, CNY 907,764,552.76 guaranteed and CNY 2,568,672,962.71 unsecured credit borrowing. Long-term loans reported outside current maturities total CNY 4,809,170,768.87, comprising CNY 12,949,998.38 mortgage loans, CNY 3,839,995,607.91 guaranteed loans and CNY 956,225,162.58 credit loans. The disclosed long-term rate ranges are 1.00–3.70% for credit borrowing and 1.0845–4.0000% for guaranteed borrowing, with 5.70% for mortgage borrowing. These historical ranges are not a consolidated average funding cost. Separately, liabilities moving into the current category total CNY 2,404,205,679.17: CNY 569,640,968.74 of long-term loans, CNY 1,834,193,472.35 of bonds and CNY 371,238.08 of leases. Those are existing obligations approaching payment, not all new FY2021 borrowing. The corresponding total at the beginning of the year is CNY 613,160,403.69. The financial-risk note states that 68.37% of debt matures in less than a year and 42.76% of interest-bearing borrowing is at fixed rates. The two percentages describe different disclosed populations and are not added or applied to every balance-sheet liability. The issuer’s maturity table is headed undiscounted contractual cash flows; its lease rows place CNY 1,418,124.19 in the one-to-five-year column and CNY 3,235,494.13 beyond five years. It is retained as reported, rather than recast as an independently verified future cash forecast. The funding mix and approaching maturities explain refinancing exposure; they do not prove future credit availability.

Borrowing carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 457,377,874.05

Borrowing carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 907,764,552.76

Borrowing carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 2,568,672,962.71

Borrowing carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 3,933,815,389.52

Borrowing carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 12,949,998.38

Borrowing carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 3,839,995,607.91

Borrowing carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 956,225,162.58

Borrowing carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 4,809,170,768.87

Reported current-maturity category / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 569,640,968.74

Reported current-maturity category / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,834,193,472.35

Reported current-maturity category / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 371,238.08

Reported current maturities of non-current liabilities / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 2,404,205,679.17

Issuer-reported debt due within a year share / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

68.37%

Reported fixed-rate share of interest-bearing debt / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

42.76%

The outstanding instrument table lists the CNY 200 million 21 Jushi 01 corporate bond, issued 3 December 2021 with interest starting 6 December, a 3.14% coupon and maturity on 6 December 2024. Five interbank instruments add CNY 2.8 billion of principal. The CNY 500 million 19 Jushi GN001 green medium-term note pays 3.75% and matures on 22 July 2022; CNY 800 million 19 Jushi MTN001 pays 3.85% and matures on 12 March 2022; CNY 500 million 19 Jushi MTN002 pays 3.68% and matures on 11 December 2022. The CNY 500 million 21 Jushi GN001 green note pays 3.61% and matures on 19 April 2024. These notes and the corporate bond pay interest annually and principal at maturity. The CNY 500 million 21 Jushi SCP003 short-term paper pays principal and 2.44% interest at its 20 May 2022 maturity; its issue and interest-start dates are 23 and 24 November 2021. All dates describe the FY2021 disclosure, not their current repayment status. The six instruments’ CNY 3 billion face principal differs from CNY 3,048,333,000.17 of combined accounting balances: current-maturity bonds CNY 1,834,193,472.35, non-current bonds CNY 712,851,750.04 and short paper CNY 501,287,777.78. The movement notes separately accrue interest and amortize issuance discounts, so face amounts are not silently substituted for carrying values. The use-of-proceeds tables show each listed instrument’s proceeds fully used with zero unused balance, but provide no construction-project progress or operating-benefit allocation in those rows. No named factory is assigned those proceeds here. The issuer reports normal historical interbank payments and no investor-protection trigger during the year; this is not a guarantee of later repayment.

Debt instrument principal / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 200,000,000

Debt instrument coupon / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

3.14%

Debt instrument principal / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 500,000,000

Debt instrument coupon / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

3.75%

Debt instrument principal / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 800,000,000

Debt instrument coupon / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

3.85%

Debt instrument principal / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 500,000,000

Debt instrument coupon / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

3.68%

Debt instrument principal / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 500,000,000

Debt instrument coupon / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

3.61%

Debt instrument principal / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 500,000,000

Debt instrument coupon / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

2.44%

Bond carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,834,193,472.35

Bond carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 712,851,750.04

Bond carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 501,287,777.78

The short-paper schedule includes four 2020 issues and three 2021 issues, each with CNY 500 million face value. Its CNY 3.5 billion historical issuance-amount column is not new borrowing all raised during FY2021. The annual movement columns show CNY 1,499,627,122.94 issued, CNY 17,701,609.59 face-based interest accrual, CNY 559,821.50 discount amortization and CNY 3,030,894,109.59 repaid. Opening CNY 2,014,293,333.34 plus issuance, interest and amortization less repayments reconciles to CNY 501,287,777.78 closing. The 2021 third issue is the remaining short paper; the 2021 first and second issues are reported repaid. The longer-bond schedule separately shows CNY 698,990,000.00 annual issuance movements for the 2021 green note and corporate bond against CNY 700 million combined face amount. It records CNY 92,421,666.68 interest, CNY 1,389,166.64 amortization and CNY 486,010,000.00 repayment. Starting CNY 2,240,254,389.07 plus those movements gives CNY 2,547,045,222.39 before closing reclassification, exactly the current and non-current longer-bond balances combined. The schedule explicitly moves the three 2019 issues into current maturities at year-end. Blank closing cells in its non-current presentation do not mean those instruments were repaid. These account movements explain rollover and classification without treating every carrying-value movement as another cash-flow statement receipt or payment.

Short-paper annual issuance movement / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,499,627,122.94

Short-paper annual repayment movement / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 3,030,894,109.59

Longer-bond annual issuance movement / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 698,990,000

Trade payables close at CNY 2,215,202,207.67, including CNY 1,039,470,171.60 for construction, CNY 1,007,147,867.44 for raw materials and CNY 54,921,561.42 for equipment. Freight, other services, utilities and other items supply the remainder. Construction and equipment obligations are not all new cash capital expenditure or charges to the same unnamed furnace; the table supplies no project allocation. Five anonymous supplier balances more than a year old total CNY 37,987,743.89, with the stated explanation that their contractual payment dates have not arrived. Age alone is therefore not labeled overdue default, and supplier numbers are not used to identify firms across years. Customer advance receipts recognized as contract liabilities are CNY 372,596,222.27 versus CNY 146,743,943.57 opening. These remain delivery obligations and are not another amount of recognized sales or proof of future repeat orders. Issued bills payable are CNY 174,866,480.62, while CNY 1,774,128,566.42 of bank-acceptance bills transferred without derecognition appear under other current liabilities. Those are distinct note populations; neither is renamed freely available cash. The full other-current-liability total of CNY 2,365,724,557.39 also includes short paper, short-term finance leases and CNY 42,999,960.58 output tax pending transfer. Its financial-instrument category of CNY 2,322,724,596.81 excludes that tax amount numerically; it is not another additional liability.

Trade-payable carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,039,470,171.6

Trade-payable carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,007,147,867.44

Trade-payable carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 54,921,561.42

Trade-payable carrying amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 2,215,202,207.67

Customer advances in contract liabilities / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 372,596,222.27

Transferred bills not derecognized / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,774,128,566.42

The short-term employee-remuneration note opens its profit-sharing account at CNY 17,279,095.07, adds CNY 725,901,387.31 during FY2021, reduces it by CNY 14,249,365.79 and closes at CNY 728,931,116.59. This exact roll-forward separates the year’s additions from amounts settled or otherwise reduced and from the obligation remaining at year-end. The closing account is part of CNY 926,669,701.36 short-term remuneration payable and CNY 928,341,565.89 total employee remuneration payable, rather than an extra debt to add again to those totals. The full short-term remuneration account records CNY 2,302,965,332.73 annual additions, including wages, benefits and other items as well as profit sharing. These additions are not all cash paid, nor are they all assigned to direct glass-fiber production costs. The note establishes an important profit-allocation and cash-settlement obligation for shareholders; it does not, by itself, prove that incentive payments improved output, identify individual recipients or establish a recurring payment at the same level. Routine pension and insurance-account procedures are condensed while their source record remains available.

Employee profit-sharing account amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 725,901,387.31

Employee profit-sharing account amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 14,249,365.79

Employee profit-sharing account amount / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 728,931,116.59

Total employee remuneration payable / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 928,341,565.89

Short-term remuneration annual additions / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 2,302,965,332.73

The major-contracts table reports CNY 11,571,690,000.00 of subsidiary-guarantee activity during FY2021 and CNY 5,640,110,000.00 outstanding at year-end, equal to 24.99% of the disclosed net-asset denominator. Annual activity and closing exposure are not added together. Guarantees excluding controlled subsidiaries are explicitly zero for both annual activity and closing balance; the issuer says all guarantees support entities within the consolidated group. Of the closing guarantees, CNY 155,830,000.00 supports recipients with liability-to-asset ratios above 70%. These obligations help explain support for subsidiary funding, but are not additional loan principal to add on top of the underlying consolidated borrowings. The table’s statement that there are no explanatory matters concerning potential joint repayment is retained as the issuer’s disclosure, not interpreted as cancellation of all legal guarantee exposure. Separately, CNBM Group Finance, whose ultimate controller is shared with China Jushi, provides a CNY 300,000,000 credit facility with actual activity of zero in the FY2021 financial-business table. The facility is not a drawn loan, deposit or verified future cash resource. No investigation of the finance company or other partners is added.

Annual subsidiary-guarantee activity / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 11,571,690,000

Closing subsidiary-guarantee balance / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 5,640,110,000

Guarantees as share of net assets / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

24.99%

Closing subsidiary-guarantee balance / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 155,830,000

Closing subsidiary-guarantee balance / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 0

Related finance-company credit facility / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 300,000,000

Related finance-company credit activity / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 0

The foreign-currency monetary-item note presents CNY 1,452,030,581.74 equivalent of monetary funds and CNY 957,143,856.70 trade receivables. Their currency denomination differs from the earlier CNY 1,409,194,045.35 of funds deposited outside China: foreign-currency amounts can have a different bank location, and overseas accounts need not have the same currency scope. Foreign-currency short loans are CNY 339,464,531.19 equivalent, current long-term debt CNY 151,794,996.50 and remaining long-term loans CNY 1,689,304,489.20. The notes also retain currency receivables, payables and other balances; gross categories alone do not give a validated net hedge position. The issuer uses foreign-exchange forwards and describes matching contract currencies and terms, while foreign subsidiaries add foreign-currency borrowing to balance exposure. These are management’s policies, not proof that every exposure is fully hedged. The closing derivative liability is CNY 2,357,294.00 and is not the derivative notional principal. Separately, restricted assets total CNY 1,038,355,044.61, comprising CNY 25,378,184.01 monetary deposits, CNY 990,922,944.34 mortgaged fixed assets and CNY 22,053,916.26 mortgaged intangible assets. The restriction account is an asset carrying-value disclosure, not all restricted cash, an extra borrowing balance or a unique allocation to an individual furnace. Egypt’s Suez operation and the South Carolina manufacturing operation use USD functional currency as disclosed; that does not mean every group balance or all overseas revenues are denominated in USD.

Foreign-currency cash translated to CNY / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,452,030,581.74

Foreign-currency trade receivables translated to CNY / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 957,143,856.7

Foreign-currency short-term loans translated to CNY / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 339,464,531.19

Foreign-currency non-current debt due within one year translated to CNY / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 151,794,996.5

Foreign-currency remaining long-term loans translated to CNY / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,689,304,489.2

Derivative financial liability / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 2,357,294

Reported total restricted assets net carrying value / 2021 / FY2021 issuer consolidated funding/treasury note; scope and source unit retained. Principal, carrying amount, annual movements, cash, guarantees and valuation are distinct.

RMB 1,038,355,044.61

At year-end, related trade receivables total CNY 20,220,805.15 gross with CNY 168,769.17 credit-loss allowance. Zhongfu Lianzhong accounts for CNY 16,386,378.73 gross and CNY 133,078.71 allowance within those totals. Receivable balances, the allowance and related annual product sales answer different questions; they are not three additional amounts of revenue or cash. Related prepayments total CNY 1,556,000, including CNY 1,476,000 for equipment from Hefei Zhongya Building Materials Equipment. Related trade payables total CNY 24,084,384.89, including equipment owed to Huarui and transport balances owed to QUARTZ, Yushi and Tianshi. The separate contract-liability/customer-advance table totals CNY 63,438,877.21, including CNY 20,000,000 from Zhenshi Holding and CNY 16,430,274.54 from HENGSHI EGYPT. These advance receipts carry delivery obligations and are not another amount of recognized sales. Huarui’s CNY 2,980,000 bidding deposit appears separately under other payables, not extra equipment purchase or a guarantee principal. All categories are subsets of corresponding consolidated balances, not totals to add on top of the group balance sheet. The previous-year cells for some smaller parties and blank cells are not recast as new FY2021 amounts or as verified zeros.

Reported related-party trade receivables gross / 2021 / FY2021 issuer subsidiary/associate/related note disclosure. Original organization, unit, period and transaction category retained; balance, annual activity and cash remain separate.

RMB 20,220,805.15

Reported related-party trade-receivable allowance / 2021 / FY2021 issuer subsidiary/associate/related note disclosure. Original organization, unit, period and transaction category retained; balance, annual activity and cash remain separate.

RMB 168,769.17

Reported related-party trade payables / 2021 / FY2021 issuer subsidiary/associate/related note disclosure. Original organization, unit, period and transaction category retained; balance, annual activity and cash remain separate.

RMB 24,084,384.89

Related customer advances and contract liabilities / 2021 / FY2021 issuer subsidiary/associate/related note disclosure. Original organization, unit, period and transaction category retained; balance, annual activity and cash remain separate.

RMB 63,438,877.21

Related-party supplier prepayments / 2021 / FY2021 issuer subsidiary/associate/related note disclosure. Original organization, unit, period and transaction category retained; balance, annual activity and cash remain separate.

RMB 1,556,000

Reported related bidding deposit payable / 2021 / FY2021 issuer subsidiary/associate/related note disclosure. Original organization, unit, period and transaction category retained; balance, annual activity and cash remain separate.

RMB 2,980,000

The parent reports a CNY 2,300,000,000 year-end dividend receivable from Jushi Group, compared with CNY 700,000,000 at the previous year-end. A receivable records an amount due, so the closing balance is not a cash receipt in 2021. Separately, parent other receivables carry CNY 760,999,476.64 net, with CNY 760,999,836.64 gross and a CNY 360 allowance. Loan principal accounts for CNY 760,000,000: CNY 500,000,000 due from Jushi Group and CNY 260,000,000 from Jushi Chengdu, both aged less than one year. Refunds, other amounts and a small deposit account for the remainder. The original allowance table places the CNY 360 in its second stage, lifetime expected credit loss without credit impairment. These parent assets describe funding and distributions within the corporate structure. Internal claims cannot be added to consolidated outside-customer assets or treated as additional group cash. The large reduction from the prior loan-principal balance does not by itself establish the timing or cash route of repayment.

Parent dividend receivable from Jushi Group / 2021 / FY2021 issuer disclosure; parent/consolidated, stock/flow and reporting date retained. Cash, accounting gains and internal balances have different scopes. Subsequent proposal fields have no FY2021 value interval.

RMB 2,300,000,000

Parent net other receivables / 2021 / FY2021 issuer disclosure; parent/consolidated, stock/flow and reporting date retained. Cash, accounting gains and internal balances have different scopes. Subsequent proposal fields have no FY2021 value interval.

RMB 760,999,476.64

Parent internal loan principal / 2021 / FY2021 issuer disclosure; parent/consolidated, stock/flow and reporting date retained. Cash, accounting gains and internal balances have different scopes. Subsequent proposal fields have no FY2021 value interval.

RMB 760,000,000

Parent internal loan principal / 2021 / FY2021 issuer disclosure; parent/consolidated, stock/flow and reporting date retained. Cash, accounting gains and internal balances have different scopes. Subsequent proposal fields have no FY2021 value interval.

RMB 500,000,000

Parent internal loan principal / 2021 / FY2021 issuer disclosure; parent/consolidated, stock/flow and reporting date retained. Cash, accounting gains and internal balances have different scopes. Subsequent proposal fields have no FY2021 value interval.

RMB 260,000,000