Securities code: China Jushi Co.Ltd(600176) securities abbreviation: China Jushi Co.Ltd(600176) Announcement No.: 2022019 China Jushi Co.Ltd(600176)
Announcement on gas station and supporting pipeline project of Tongxiang production base of Jushi Group 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 project
Gas station and supporting pipeline project of Tongxiang production base of Jushi Group Co., Ltd.
Investment amount
The total investment of gas station and supporting pipeline project of Tongxiang production base of Jushi Group Co., Ltd. is 351.1 million yuan.
Special risk tips
The investment project may be affected by policies, enterprise production and operation and other factors, and there are project implementation risks. Please invest rationally and pay attention to investment risks.
China Jushi Co.Ltd(600176) (hereinafter referred to as “the company”) in accordance with the relevant provisions of the stock listing rules of Shanghai Stock Exchange, hereby makes the following announcement on the matters related to the gas station and supporting pipeline construction project of Tongxiang production base of Jushi Group Co., Ltd. (hereinafter referred to as “Jushi group”), a wholly-owned subsidiary of the company.
1、 Investment overview
1. Basic information of the project
In order to meet the gas use demand of the existing base and the new production base in the future during the 14th Five Year Plan period, and improve the stability and continuity of the operation of the production base, Jushi group plans to invest in the construction of gas station and supporting pipeline projects, including liquefied natural gas (LNG) and pipeline natural gas.
The project investment does not constitute a related party transaction.
2. Deliberations of the board of directors
The proposal on gas station and supporting pipeline project of Tongxiang production base of Jushi Group Co., Ltd. was considered and adopted at the 21st Meeting of the sixth board of directors of the company. The proposal was adopted with 9 affirmative votes, 0 negative votes and 0 abstention. The proposal must be submitted to the general meeting of shareholders of the company for deliberation.
2、 Basic information of investors
The basic information of Jushi group is as follows:
Date of establishment: June 28, 2001
Registered address: Tongxiang Economic Development Zone, Jiaxing City, Zhejiang Province
Company type: limited liability company
Legal representative: Zhang Yuqiang
Registered capital: 525531304800 yuan
Business scope: general items: production and sales of glass fiber, composite materials, engineering plastics and products, chemical raw materials of glass fiber, glass fiber equipment and accessories, unsaturated polyester resin and special platinum rhodium equipment for glass fiber; Production, processing and sales of wood packaging materials, paper packaging materials and plastic packaging materials; Repair, renovation and remanufacture of platinum rhodium alloy leakage sector; Provide wharf facilities for ships and cargo handling services in the port area; Technical development and service of new materials; Import and export of goods and Technology (except for projects subject to approval according to law, business activities shall be carried out independently according to law with business license).
Equity structure: the company invested 525531304800 yuan and held 100% of its equity
As of December 31, 2021, Jushi group had total book assets of 35478775600 yuan, total liabilities of 15980896900 yuan and net assets of 19497878700 yuan. In 2021, it realized operating income of 18338183600 yuan and asset liability ratio of 45.04%.
3、 Basic information of investment projects
(I) necessity of project construction
The core equipment of glass fiber roving and spinning production line is kiln. The gas station integrating various gas supply facilities is an important energy infrastructure of the production base. The proposed project will provide pipeline natural gas source and self provided LNG source for fuel supply of the base, which can greatly improve the stability and continuity of gas supply and effectively ensure the safety and reliability of gas supply of Tongxiang production base.
The construction content of the project includes a medium voltage export and interconnection pipeline with the intelligent manufacturing base. After completion, the gas transmission and distribution system in the plant area of Tongxiang production base will be interconnected and complementary to achieve the effect of “1 + 1 2”.
(II) project overview
1. Construction site
The construction site of the project is located on the South Bank of Changshan River, the east of Ling’an Avenue, the north of ZHOUDIAN highway and the west of 500kV power corridor in Tongxiang Economic Development Zone.
2. Construction content and scale
According to the functional orientation of the project and the current situation of gas supply, the external supply scale of LNG gasification of the proposed gas station is 60000 standard m3 / h, the access scale of gate station is 60000 standard m3 / h, and the transmission scale of medium pressure export pipeline is 40000 standard m3 / h; The LNG storage capacity is 20000 standard cubic meters, which can be used for 8.5 days under the maximum gasification capacity of 60000 standard cubic meters / hour.
3. Construction progress
The construction period of the project is one year, and it is planned to start in the first half of 2022.
4. Project financing
The total investment of the project is 351.1 million yuan, and the source of funds is self raised by the company.
4、 Impact of investment projects on the company
In the glass fiber production process, the sufficient, safe and stable energy supply, especially the gas and oxygen supply, is directly related to the product line, economic line and lifeline of the enterprise. The construction of this project will provide dual gas source guarantee of LNG and pipeline natural gas for the company’s existing production base and future long-term planning, and effectively ensure the continuous and stable production of the base. At the same time, it will also save a lot of gas use costs for enterprises and produce considerable direct economic benefits.
5、 Risk analysis of foreign investment
The investment project may be affected by policies, enterprise production and operation and other factors, and there are project implementation risks. Please invest rationally and pay attention to investment risks.
6、 Directory of documents for future reference
Resolution of the 21st Meeting of the 6th board of directors.
It is hereby announced.
China Jushi Co.Ltd(600176) board of directors March 18, 2022
