SINOFILINGS / BUSINESS LIBRARY600176 / PUBLISHED
Annual business review / fy2021-financial-material-close-20261005

China Jushi FY2021: Products and glass-fiber technology

Products, applications, research and commercial progress.

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

Products and applications

E9 reached tank-furnace mass production

E9 ultra-high-modulus glass fiber reached tank-furnace mass production in 2021. The company reported modulus above 100 GPa and described E7, E8 and new electronic-yarn formulations as operating efficiently and stably, with customer certification and promotion. The numerical modulus is a company disclosure, not an independently reproduced test result. This production-stage milestone follows the laboratory-stage confirmation for E9 in the 2018 filing.

Technology and commercial progress

Growing investment in process and product research

R&D investment reached RMB 552,223,387.50, entirely expensed, or 2.80% of revenue. The operating account discusses digital applications across the fiber value chain and manufacturing process, alongside glass-formulation development. The expenditure supports a broad research programme. It is not identified solely as E9 development cost or as the budget for any one new production line.

Materials development connects glass chemistry to production processes

The annual report explains glass-fiber manufacture from mineral inputs such as pyrophyllite, kaolin, limestone and quartz sand through proportioning, high-temperature melting, drawing, drying and winding. Fibers serve as composite reinforcement, electrical insulation, thermal insulation and circuit-board substrates; these are inputs for downstream manufacturers, not proof that Jushi sells finished vehicles or wind turbines. Its industry description of alkali-free glass exceeding 95% of output is not Jushi’s own product mix. Research spans glass formulations, sizing chemicals, fiber products, composite applications, manufacturing equipment, cleaner production and intelligent manufacturing. FY2021 research investment was CNY 552,223,387.50, all expensed, equal to 2.80% of revenue, with 1,792 research personnel. These resources are not allocated solely to E9 or any one line. Management reports E9 tank-furnace mass production and modulus above 100 GPa, and certification/promotion of E7, E8 and new electronic-yarn formulations. The modulus and qualification claims are issuer disclosures; no independent comparative test, named certification customer, grade sales or separate saving from each digital initiative is supplied here. Leadership and awards are condensed rather than used to prove technology or commercial success.

Reported research personnel count / 2021 / annual research personnel disclosed count
1,792 people

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
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