Securities code: China Jushi Co.Ltd(600176) securities abbreviation: China Jushi Co.Ltd(600176) Announcement No.: 2022022 China Jushi Co.Ltd(600176)
Announcement on the capital increase of 200 million yuan by Jushi Group Co., Ltd. to Jushi group Jiujiang 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 Jiujiang Co., Ltd. (hereinafter referred to as “Jushi Jiujiang”)
Investment amount: Jushi Group Co., Ltd. (hereinafter referred to as “Jushi group”) plans to increase the capital of Jushi Jiujiang by 200 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 glass fiber production line with an annual output of 400000 tons in Jushi Jiujiang intelligent manufacturing base, improve profitability and improve Jushi Jiujiang’s market competitiveness and industry position, Jushi group plans to increase the capital of its wholly-owned subsidiary Jushi Jiujiang by 200 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 Jiujiang Co., Ltd
Registered address: No. 6, Jinxiu Avenue, export processing zone, Jiujiang Development Zone, Jiangxi Province
Legal representative: Yang Weizhong
Registered capital: 706 million yuan
Date of establishment: April 9, 2004
Company type: limited liability company
2. Main business
General items: manufacturing of glass fiber and products, sales of glass fiber and products, manufacturing of high-performance fiber and composite materials, sales of high-performance fiber and composite materials, manufacturing of glass fiber reinforced plastic products, sales of glass fiber reinforced plastic products, manufacturing of non-metallic mineral products, sales of non-metallic minerals and products, sales of engineering plastics and synthetic resin, manufacturing of metal chains and other metal products, Sales of metal chains and other metal products, manufacturing of paper products, sales of paper products, manufacturing of wooden containers, sales of wooden containers, sales of packaging materials and products, manufacturing of plastic products, sales of plastic products, production of chemical products (excluding licensed chemical products), sales of chemical products (excluding licensed chemical products), manufacturing of special chemical products (excluding hazardous chemicals), Sales of special chemical products (excluding hazardous chemicals), manufacturing of special machinery for the production of building materials, sales of mechanical equipment, processing of mechanical parts and components, and sales of mechanical parts and components (except for licensed business, it can independently operate projects not prohibited or restricted by laws and regulations)
3. Ownership structure
Jushi Group invested 706 million yuan and held 100% equity of Jushi Jiujiang.
4. Key financial data
As of December 31, 2021, Jushi Jiujiang had total assets of 27393069 million yuan, total liabilities of 8789418 million yuan and net assets of 18603651 million yuan. In 2021, it realized operating income of 25187639 million yuan and asset liability ratio of 32.09%.
3、 The impact of foreign investment on Listed Companies
The capital increase of Jushi Jiujiang by Jushi group is conducive to further expand the production capacity of Jushi Jiujiang, accelerate the construction of glass fiber production line with an annual output of 400000 tons of Jushi Jiujiang intelligent manufacturing base, 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
