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China JushiFY2024Debt and related-party balances
FY2024 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 commitments
Annual business review / fy2024-field-role-20261006

China Jushi FY2024: Debt and related-party balances

Funding, maturities and related-party settlement obligations.

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 2024-12-31 / Filing published 2025-03-20
Content version 13 / d92b378dd0ae / PUBLISHED

Debt structure and contractual maturities

Contractual maturity totals include trade obligations, not just borrowing

The FY2024 financial-risk note presents financial liabilities by undiscounted remaining contractual maturity: RMB 13,586,999,801.47 within one year, RMB 4,584,741,768.36 in one to three years, RMB 527,395,818.62 in three to five years, and RMB 2,106,421.04 beyond five years, totalling RMB 18,701,243,809.49. The table includes trade payables, bills, other payables and derivatives as well as borrowing, bonds and leases. It is therefore not a debt-only schedule or a complete total of all balance-sheet liabilities. Several borrowing categories are explicitly labelled as excluding unrecognised interest, so it is not presented here as a full future interest-and-principal cash budget. Management describes subsidiary cash forecasting, central monitoring of funding needs and compliance with loan agreements, and backup commitments from financial institutions. This account does not demonstrate unused committed facilities, refinancing success or freedom from liquidity risk.

Reported disclosureFY2024 annual report, p. 179 ↗
Reported financial liabilities within one year / 2024 / contractual maturity within one year
RMB 13,586,999,801.47
Reported financial liabilities within one year / 2024 / contractual maturity one to three years
RMB 4,584,741,768.36
Reported financial liabilities within one year / 2024 / contractual maturity three to five years
RMB 527,395,818.62
Reported financial liabilities within one year / 2024 / contractual maturity beyond five years
RMB 2,106,421.04
Reported financial liabilities within one year / 2024 / contractual maturity total
RMB 18,701,243,809.49

Debt moves across maturity categories; a lower long-term line is not the whole funding story

At December 31, 2024, consolidated short-term borrowings were RMB 5,134,772,077.22, versus RMB 6,246,170,212.34 at the prior year end. The non-current long-term borrowing line was RMB 3,985,107,308.97, versus RMB 5,240,668,494.53, after deducting RMB 1,427,689,411.52 of long-term loans due within one year. Total current portions of non-current liabilities were RMB 2,274,631,500.83, including RMB 833,723,694.44 of bonds and RMB 13,100,130.31 of leases alongside those loans. The current long-term-payable component is RMB 118,264.56; its opening comparative cell is blank and is not recorded as zero. Short-term bonds are reported separately within other current liabilities at RMB 2,407,801,388.89, up from RMB 504,440,277.78. Non-current bonds were RMB 1,000,000,000 after deducting the current portion. These categories show why the lower non-current loan line alone is insufficient to describe funding pressure: current portions and short-term bonds also matter. The deducted current portions are not counted again in their non-current totals. No net-debt figure, covenant breach or inability to refinance is inferred.

Reported disclosureFY2024 annual report, p. 152 ↗FY2024 annual report, p. 155 ↗FY2024 annual report, p. 157 ↗
Short-term borrowings / 2024 / consolidated short term borrowings
RMB 5,134,772,077.22
Short-term borrowings / 2023 / consolidated short term borrowings comparative
RMB 6,246,170,212.34
Non-current long-term borrowings after current-portion deduction / 2024 / consolidated noncurrent long term borrowings
RMB 3,985,107,308.97
Non-current long-term borrowings after current-portion deduction / 2023 / consolidated noncurrent long term borrowings comparative
RMB 5,240,668,494.53
Long-term loans due within one year / 2024 / consolidated current long term loans
RMB 1,427,689,411.52
Long-term loans due within one year / 2023 / consolidated current long term loans comparative
RMB 960,003,299.67
Bonds due within one year / 2024 / consolidated current bonds
RMB 833,723,694.44
Bonds due within one year / 2023 / consolidated current bonds comparative
RMB 733,476,416.81
Current portions of non-current liabilities / 2024 / consolidated current portions noncurrent liabilities
RMB 2,274,631,500.83
Current portions of non-current liabilities / 2023 / consolidated current portions noncurrent liabilities comparative
RMB 1,703,036,017.3
Short-term bonds within other current liabilities / 2024 / consolidated short term bonds
RMB 2,407,801,388.89
Short-term bonds within other current liabilities / 2023 / consolidated short term bonds comparative
RMB 504,440,277.78
Non-current bonds after current-portion deduction / 2024 / consolidated noncurrent bonds
RMB 1,000,000,000
Non-current bonds after current-portion deduction / 2023 / consolidated noncurrent bonds comparative
RMB 799,920,000
Lease liabilities due within one year / 2024 / consolidated current leases
RMB 13,100,130.31
Long-term payables due within one year / 2024 / consolidated current long term payables
RMB 118,264.56

Read the complete annual research snapshot

Sources and scope

What this guide establishes

  • This page is based only on selected business disclosures in the FY2024 annual report. Statements about the following year are the plans stated in that report.
  • Later filings have their own pages. Their subsequent project milestones and commercial outcomes are not inserted into this historical account.
  • The source report is in Chinese. English wording was drafted and checked in separate passes by the same assistant. Independent editorial review and publication approval remain pending.
  • This local pilot is not a complete extraction of every business disclosure in the annual report.
  • Depth review: the stated operating and project scopes are expanded, but not all financial notes, governance rows, industry charts or separate ESG documents have been extracted. Same-assistant checks are not independent editorial approval.
  • FY2024 inventory-allowance and related finance-company loan field roles are clarified in this version. Earlier shared labels incorrectly called closing amounts and annual movements opening balances. Source values, currencies and periods are unchanged; original evidence and earlier versions are retained.
FY2024 full annual report ↗
Chinese / A-share / Chinese Accounting Standards / Published 2025-03-20
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