China Jushi FY2022: Subsidiaries and invested companies

The FY2022 controlled-and-invested-company table lists Jushi Group with a reported holding of 100.00% and a principal business of glass-fiber manufacturing and sales. It reports revenue of CNY 19,342,484,700.00, operating profit of CNY 7,957,666,900.00 and net profit of CNY 6,644,064,000.00. Total assets are CNY 42,921,251,900.00, net assets CNY 24,317,246,600.00, and registered capital CNY 5,255,313,000.00. The table uses ten-thousand CNY, except the explicitly labelled ten-thousand USD registered capital of Jushi USA. These are organizational figures, not an allocation to a factory, furnace or product. The table does not specify each row’s standalone or consolidated perimeter; the rows must not be added together as the listed issuer’s results or treated as shareholder-attributable contributions.

Registered capital / 2022 / annual investee table

RMB 5,255,313,000

Total assets / 2022 / annual investee table

RMB 42,921,251,900

Net assets / 2022 / annual investee table

RMB 24,317,246,600

Revenue / 2022 / annual investee table

RMB 19,342,484,700

Operating profit / 2022 / annual investee table

RMB 7,957,666,900

Net profit / 2022 / annual investee table

RMB 6,644,064,000

Issuer-reported holding percentage / 2022 / annual investee table

100%

The FY2022 controlled-and-invested-company table lists Jushi USA with a reported holding of 70.00% and a principal business of glass-fiber manufacturing and sales. It reports revenue of CNY 907,712,300.00, operating profit of CNY 160,740,100.00 and net profit of CNY 134,630,900.00. Total assets are CNY 2,959,694,800.00, net assets CNY 1,318,028,300.00, and registered capital USD 200,000,000.00. The table uses ten-thousand CNY, except the explicitly labelled ten-thousand USD registered capital of Jushi USA. These are organizational figures, not an allocation to a factory, furnace or product. The table does not specify each row’s standalone or consolidated perimeter; the rows must not be added together as the listed issuer’s results or treated as shareholder-attributable contributions.

Registered capital / 2022 / annual investee table

200,000,000 USD

Total assets / 2022 / annual investee table

RMB 2,959,694,800

Net assets / 2022 / annual investee table

RMB 1,318,028,300

Revenue / 2022 / annual investee table

RMB 907,712,300

Operating profit / 2022 / annual investee table

RMB 160,740,100

Net profit / 2022 / annual investee table

RMB 134,630,900

Issuer-reported holding percentage / 2022 / annual investee table

70%

The FY2022 controlled-and-invested-company table lists Beixin Technology Development with a reported holding of 100.00% and a principal business of building-materials sales. It reports revenue of CNY 693,275,900.00, operating profit of CNY 3,285,500.00 and net profit of CNY 2,467,200.00. Total assets are CNY 153,983,200.00, net assets CNY 82,577,000.00, and registered capital CNY 90,000,000.00. The table uses ten-thousand CNY, except the explicitly labelled ten-thousand USD registered capital of Jushi USA. These are organizational figures, not an allocation to a factory, furnace or product. The table does not specify each row’s standalone or consolidated perimeter; the rows must not be added together as the listed issuer’s results or treated as shareholder-attributable contributions.

Registered capital / 2022 / annual investee table

RMB 90,000,000

Total assets / 2022 / annual investee table

RMB 153,983,200

Net assets / 2022 / annual investee table

RMB 82,577,000

Revenue / 2022 / annual investee table

RMB 693,275,900

Operating profit / 2022 / annual investee table

RMB 3,285,500

Net profit / 2022 / annual investee table

RMB 2,467,200

Issuer-reported holding percentage / 2022 / annual investee table

100%

The FY2022 controlled-and-invested-company table lists Zhongfu Lianzhong with a reported holding of 32.04% and a principal business of wind-turbine blade manufacturing and sales. It reports revenue of CNY 3,813,759,600.00, operating profit of CNY 227,822,000.00 and net profit of CNY 208,479,400.00. Total assets are CNY 6,357,960,400.00, net assets CNY 3,811,861,200.00, and registered capital CNY 261,307,500.00. The table uses ten-thousand CNY, except the explicitly labelled ten-thousand USD registered capital of Jushi USA. These are organizational figures, not an allocation to a factory, furnace or product. The table does not specify each row’s standalone or consolidated perimeter; the rows must not be added together as the listed issuer’s results or treated as shareholder-attributable contributions. The 32.04% disclosed interest is a minority holding in this table, not a wholly owned glass-fiber operation. Later-year restructuring and a different investee must be tracked as separate events; they cannot be inserted into these FY2022 figures.

Registered capital / 2022 / annual investee table

RMB 261,307,500

Total assets / 2022 / annual investee table

RMB 6,357,960,400

Net assets / 2022 / annual investee table

RMB 3,811,861,200

Revenue / 2022 / annual investee table

RMB 3,813,759,600

Operating profit / 2022 / annual investee table

RMB 227,822,000

Net profit / 2022 / annual investee table

RMB 208,479,400

Issuer-reported holding percentage / 2022 / annual investee table

32.04%

The FY2022 controlled-and-invested-company table lists Guangrongda Financial Leasing with a reported holding of 20.10% and a principal business of financial leasing. It reports revenue of CNY 33,097,900.00, operating profit of CNY 7,865,500.00 and net profit of CNY 5,877,500.00. Total assets are CNY 547,016,000.00, net assets CNY 518,927,000.00, and registered capital CNY 500,000,000.00. The table uses ten-thousand CNY, except the explicitly labelled ten-thousand USD registered capital of Jushi USA. These are organizational figures, not an allocation to a factory, furnace or product. The table does not specify each row’s standalone or consolidated perimeter; the rows must not be added together as the listed issuer’s results or treated as shareholder-attributable contributions. Its 20.10% reported holding is not full ownership and does not by itself establish control or an accounting method. This is a financing-related investment in the issuer’s disclosure, not research into the investee’s own filings or proof of a named project financing contract.

Registered capital / 2022 / annual investee table

RMB 500,000,000

Total assets / 2022 / annual investee table

RMB 547,016,000

Net assets / 2022 / annual investee table

RMB 518,927,000

Revenue / 2022 / annual investee table

RMB 33,097,900

Operating profit / 2022 / annual investee table

RMB 7,865,500

Net profit / 2022 / annual investee table

RMB 5,877,500

Issuer-reported holding percentage / 2022 / annual investee table

20.1%

Jushi Group Jiujiang lost control of its wholly owned De’an Linda Limestone Quarry in March 2022. Under the agreement signed on 24 December 2021, the quarry’s 100% equity was contributed to Jiangxi Yifeng Mining at a CNY 45.2885 million valuation. Of that, CNY 32.6844 million entered Yifeng’s registered capital and CNY 12.6041 million became a claim held by Jushi Jiujiang; the other party agreed to bear CNY 4.3933 million of transaction tax. Jushi Jiujiang retained 25% of Yifeng after the transaction. The disposal table separately reports CNY 49,681,775.00 of cash-and-equity consideration and CNY 26,872,828.48 of difference from the subsidiary net-asset share. These are distinct transaction/accounting measures, not all cash received or a 100% ownership claim over the resulting associate. The cash-flow note records CNY 14,800,737.50 received from the quarry disposal, less CNY 2,048,291.59 of cash leaving with the subsidiary, producing CNY 12,752,445.91 net disposal cash. This explains the move from consolidated quarry assets to a minority mining investment and claim; no exact quarry boundary, extraction output or ongoing supply contract is inferred. The investment-income note’s consolidated equity-disposal gain is a separate measure and is not silently replaced with the disposal table’s net-asset difference.

Disposal cash-and-equity consideration / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 49,681,775

Disposal consideration less net-asset share / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 26,872,828.48

Cash received from subsidiary disposal / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 14,800,737.5

Cash received from subsidiary disposal / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 12,752,445.91

After the quarry contribution, Jushi Group Jiujiang holds 25% of Jiangxi Yifeng Mining. The annual equity-method table records CNY 32,684,400.00 of added investment, CNY 2,128,664.95 of recognized investment income and CNY 34,813,064.95 of closing carrying value. The additions and recognized income reconcile that closing account; they are not Yifeng’s total assets, full profit or glass-fiber revenue. The disclosed CNY 12.6041 million claim arising from the contribution is separate from registered-capital investment and is not added again to the investment carrying value as if it were the same asset. The remaining 25% investment does not mean the quarry stayed wholly consolidated or that Jushi exclusively controls mining operations. The report names the transaction counterpart but does not establish a new independently verified mine site, reserve tonnage, production rate or long-term mineral supply entitlement.

Reported organizational holding / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

25%

Equity-method investment additions / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 32,684,400

Recognized equity-method income / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 2,128,664.95

Equity-method investment carrying value / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 34,813,064.95

Wuxi Boshi Precious Metal Materials entered the consolidated perimeter in August 2022. The group-composition table lists Wuxi as both its main operating and registered location, describes manufacturing and sales of nonferrous-metal alloys, and reports a 51% indirect holding. At year-end it has CNY 20,012,005.43 of net assets and CNY 12,005.43 of profit from its consolidation date to year-end. The latter is a partial-year entity result, not a full-year metal-disposal gain or the value of the group’s platinum-rhodium production bushings. The alloy business fits a materials-related corporate activity, but the note does not identify a particular furnace, capacity, exclusive customer or precise street address. It is stored as a distinct organization rather than merged with other similarly named materials suppliers or treated as an additional glass-fiber production line.

Reported organizational holding / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

51%

New subsidiary year-end net assets / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 20,012,005.43

Profit since consolidation / Profit from consolidation in August2022 to year end; exact starting day is not disclosed, so no exact interval is asserted. Source163 CNY; not a full calendar year profit.

RMB 12,005.43

The perimeter-change note says Jushi India Limited left consolidation in March 2022 and was deregistered during the year. It also lists Jianshi Juhong Mining as leaving in November 2022. These named legal-entity changes do not prove that all Indian activity or every mining business closed. In particular, the separate Jushi India Glass Fiber Company remains in the year-end subsidiary composition table under its longer full name. The two India names are kept as distinct organizational identities. No production history, transferred assets or relationship between them is invented from the shared country and Jushi name.

Jushi India Glass Fiber Company remains listed with a 100% indirect holding at year-end. The subsidiary table gives Maharashtra as its main operating location, Pune as its registered location and glass-fiber/products manufacturing and sales as its business nature. Those administrative and corporate disclosures are not a measured operating production result, a furnace address or proof a planned Indian line had been commissioned. This company is distinct from Jushi India Limited, deregistered in March. The separate Indian 100,000-tonne project termination discussed in the annual governance/strategy disclosures is a project decision; it is not used to erase the company record or infer completion of a different project.

Reported organizational holding / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

100%

The subsidiary composition table lists Jushi US Glass Fiber sales company in California, with a 100% indirect holding and a business of glass-fiber/products sales and import/export of specialist equipment and chemical materials. It separately lists Jushi USA in South Carolina with a 70% indirect holding and glass-fiber/products manufacturing and sales. A country label therefore does not identify a single subsidiary or one factory. The South Carolina financial and minority disclosures belong to Jushi USA, not the California sales company. Their activities can connect manufacturing to distribution, but the annual table alone does not quantify intercompany shipments, external sales split or a separate California manufacturing line. The two full source names and their location/activity scopes are preserved as distinct identities.

Reported organizational holding / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

100%

Jushi USA’s important-subsidiary financial table is reported in ten-thousand CNY, including the full entity rather than only Jushi’s 70% stake. At year-end its assets are CNY 2,959,694,800 and liabilities CNY 1,641,666,500. FY2022 net profit is CNY 134,630,900, comprehensive income CNY 238,475,500 and operating cash CNY 230,671,800. Cash generation differs from profit; comprehensive income is another reported measure rather than an additional cash inflow. The separate minority note reports a 30% minority interest, CNY 40,389,281.63 of minority profit and CNY 395,408,491.11 of closing minority equity. The CNY 10,000-unit profit table is rounded, so its displayed total is not forced to reproduce the exact minority amount by percentage multiplication. The minority-dividend cell is blank rather than a newly inferred zero payment. Full subsidiary revenue and cash are not added to consolidated totals or treated as all externally generated in the US; parent attribution and consolidation eliminations have different scopes.

Reported subsidiary operating cash flow / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 230,671,800

Subsidiary comprehensive income / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 238,475,500

Profit attributable to subsidiary minority / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 40,389,281.63

Closing subsidiary minority equity / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 395,408,491.11

Jushi Egypt Glass Fiber Company is listed in Suez with a 75.01% indirect holding. Its full subsidiary accounts report CNY 5,713,937,200 of assets and CNY 2,637,759,200 of liabilities at year-end, FY2022 net profit CNY 617,055,500, comprehensive income CNY 854,264,700 and operating cash CNY 641,258,600. The original financial table is in ten-thousand CNY, not USD or only the listed parent’s attributable share. The minority note separately gives a 24.99% interest, CNY 154,202,166.86 of minority profit, CNY 64,250,077.56 of dividends declared to minority holders and CNY 768,736,893.24 of closing minority equity. Declared minority dividends are not automatically actual cash paid during FY2022 or dividends received by SinoFilings readers as listed-company shareholders. These entity-level results are separate from the new 120,000-tonne construction account and its budget/progress; company assets and operating cash are not allocated to a specific Egyptian line without disclosure. Suez supplies a general operating location, not independently verified coordinates or each plant’s permit record.

Reported subsidiary operating cash flow / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 641,258,600

Subsidiary comprehensive income / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 854,264,700

Profit attributable to subsidiary minority / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 154,202,166.86

Dividends declared to subsidiary minority / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 64,250,077.56

Closing subsidiary minority equity / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 768,736,893.24

The report identifies Lianyungang Zhongfu Lianzhong as a wind-blade manufacturer and seller, with a 32.04% direct holding accounted for by the equity method. Its full FY2022 revenue is CNY 3,813,759,579.24 and net profit CNY 208,479,388.83, while Jushi’s investment table recognizes CNY 61,494,608.65 of income. The recognized amount is not replaced by the associate’s full profit or an unqualified percentage multiplication. The closing investment is CNY 1,223,259,790.15, comprising the reported CNY 1,186,660,405.42 share of net assets and CNY 36,599,384.73 of adjustments. The adjustment is printed as other items, not invented goodwill; the prior-year unrealized intercompany-profit item is not silently inserted into the current-year blank. The associate note says CNY 32,516,818.62 of dividends were received during FY2022. Full blade-company revenues, assets and emissions are therefore not treated as consolidated Jushi fiber-factory totals. The investment is a business connection to downstream composites, while the annual note does not quantify a particular blade model’s customer orders or guarantee exclusive fiber purchases.

Reported share of associate net assets / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 1,186,660,405.42

Associate carrying-value adjustment / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 36,599,384.73

Recognized equity-method income / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 61,494,608.65

Associate dividend received / 2022 / FY2022 annual: specific company, transaction or consolidated perimeter. Subsidiary/associate/minority, capital/claim, profit and received cash are distinct; original CNY scale retained.

RMB 32,516,818.62

The year-end composition table lists Jushi Group in Tongxiang, Jushi Group Jiujiang and Jushi Group Chengdu for glass-fiber/products production and sales. It also identifies Jiujiang Calcium for calcium oxide, calcium carbonate and fluorite processing and sales; Tongxiang Leishi Micropowder for deeper processing of nonmetallic minerals; and Hubei Hongjia Kaolin Mining in Yidu for kaolin, peat, other nonmetallic mineral and refractory-material processing and sales. These reported corporate functions connect fiber manufacturing to upstream materials, but do not supply annual mine output or a one-to-one allocation to glass-fiber furnaces. The disclosed overseas network includes sales/import-export companies in Hong Kong, Toronto, Tokyo, Seoul, Milan, Madrid and Lyon, a Rio de Janeiro sales company, and the separately described California business. Holdings vary: the table gives 60% for the Japan and South African composite companies, 70% for Korea and 99.99% for Brazil, rather than all entities being wholly owned. South Africa’s stated production-and-sales scope and other corporate scopes do not by themselves establish an individual factory’s capacity or actual production. The full legal-entity list and source dates are retained, while minor registered-business boilerplate is condensed for readers. A new company record or permitted business activity is not counted as a commissioned project or another complete annual analysis.