China Jushi FY2024: Products and glass-fiber technology

In 2024, Jushi sold 3.025 million tonnes of roving and related products and 875 million metres of electronic fabric. Glass fiber and its products generated RMB 15.480 billion, accounting for 99.60% of main-business revenue. Management's product-mix work focused on thermoplastic chopped strands, smaller-tex direct rovings, package yarn and mats or fabrics, alongside coordination of product plans across six production bases. The report describes an increase in the share of higher-end products but does not quantify that share in this passage.

Management identifies high-performance glass and sizing formulations, large melting-furnace design, specialist fiber-drawing bushings, key-input development and in-house production, and intelligent and green manufacturing as technical capabilities. The product portfolio includes the proprietary E7, E8 and E9 high-modulus formulation families and wind-energy products, alongside boron-free and fluorine-free, lower-density and lighter-coloured directions. Management describes these capabilities as advantages. The cited passages do not provide a numerical performance specification for each product or an independently measured competitive ranking.

R&D investment in 2024 was RMB 528,291,814.11, equal to 3.33% of operating revenue. The report's table records all of this investment as expensed and no capitalised R&D investment. It lists 1,300 R&D personnel, representing 9.65% of employees. Management established a technology innovation committee and describes combining work on glass formulations, sizing formulations and internally produced chemical inputs to meet more specialised customer needs. These disclosures explain the resources and organisation behind development; the expenditure is not a product-specific sales or profitability measure.

Jushi reports 125 patent authorisations in 2024, including 64 invention-patent authorisations, of which 38 were foreign authorisations. Cumulative valid authorised patents reached 1,023. It also reports continuing innovation in fiber-drawing bushings and automation projects aimed at production efficiency. The annual and cumulative patent figures use different scopes, and patent authorisation alone is not evidence that a particular new product has achieved commercial deliveries.

Jushi describes further development of digital and future factories, wider use of internally developed information platforms, and exploration of artificial intelligence in manufacturing. It reports upgrading overseas systems to improve collaboration and data sharing, and completing a unified global purchasing and sales platform for its glass fiber business. The passage describes systems and initiatives; it does not provide a separately measured productivity improvement or financial return attributable to each digital project.

The FY2024 filing describes application-technology support for customers and joint quality-and-technology work with strategic partners. It also reports certifications for quality, environmental and measurement management systems, laboratory recognition and a range of product certifications. These disclosures explain the stated quality-support infrastructure around the glass-fiber portfolio. They do not identify each participating customer, certificate number, validity period or the product and production-line scope of every certification. The group-level description cannot establish that a newly developed line was already certified or delivering a particular grade.