Securities code: China Jushi Co.Ltd(600176) securities abbreviation: China Jushi Co.Ltd(600176) Announcement No.: 2022021 China Jushi Co.Ltd(600176)
Announcement on the capital increase of 100 million yuan by Jushi Group Co., Ltd. to Jushi Group Chengdu Co., Ltd
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents. Important content tips:
Name of investment object: Jushi Group Chengdu Co., Ltd. (hereinafter referred to as “Jushi Chengdu”)
Investment amount: Jushi Group Co., Ltd. (hereinafter referred to as “Jushi group”) plans to increase the capital of Jushi Chengdu by 100 million yuan
Special risk warning: this capital increase does not constitute a major asset reorganization of the listed company and will not change the scope of the company’s consolidated statements.
1、 Overview of foreign investment
1. In order to further expand the scale of production capacity, accelerate the construction of Jushi Chengdu production line with an annual output of 150000 tons of glass fiber chopped precursor, improve profitability, market competitiveness and industry status, Jushi group plans to increase the capital of its wholly-owned subsidiary Jushi Chengdu by 100 million yuan in cash.
2. The capital increase was deliberated and adopted at the 21st Meeting of the sixth board of directors on March 18, 2022. This capital increase does not need to be submitted to the general meeting of shareholders of the company for deliberation, nor does it need to be approved by relevant government departments. 3. This capital increase does not belong to related party transactions and major asset restructuring, and will not change the scope of the company’s consolidated statements.
2、 Basic information of investment object
1. Company profile
Company name: Jushi Group Chengdu Co., Ltd
Registered address: No. 899, oucheng Road, Qingquan Town, Qingbaijiang District, Chengdu
Legal representative: Chen Jie
Registered capital: 1239907448 million yuan
Date of establishment: April 9, 2004
Company type: limited liability company
2. Main business
Production and sales: glass fiber and products, composite materials, engineering plastics and products, glass fiber chemical raw materials, glass fiber special equipment (the above scope does not include national restricted varieties); Operate the export business of self-produced products and technologies of the enterprise; Operate the import business of raw and auxiliary materials, instruments and meters, mechanical equipment, spare parts and technologies required for the production of the enterprise and its member enterprises (except for goods and technologies limited by the state and prohibited by the state); It is engaged in processing with imported materials and “three supplies and one compensation” business. (the above items that must be approved according to law can only be carried out after being approved by relevant departments).
3. Ownership structure
Jushi Group invested RMB 1239907448 million and held 100% equity of Jushi Chengdu
4. Key financial data
As of December 31, 2021, Jushi Chengdu had total assets of 4395756700 yuan, total liabilities of 1042424200 yuan and net assets of 3353332500 yuan. In 2021, it realized operating income of 1586637400 yuan and asset liability ratio of 23.71%.
3、 The impact of foreign investment on Listed Companies
The capital increase of Jushi group to Jushi Chengdu is conducive to further expand the production capacity of Jushi Chengdu, accelerate the construction of Jushi Chengdu 150000 T / a glass fiber chopped strand production line project, improve profitability, improve market competitiveness and industry status, and comply with the company’s development strategy and long-term plan.
The decision-making procedures and voting results of the board of directors of the company on the above foreign investment are legal and effective. This foreign investment does not harm the interests of the company and shareholders, especially minority shareholders.
It is hereby announced.
China Jushi Co.Ltd(600176) board of directors March 18, 2022
