Lu Thai Textile Co., Ltd. Annual Report 2021 (Summary)
Stock Code: 000726, 200726 Stock Name: LTTC, LTTC-B Announcement No. 2022-022
Bond Code: 127016 Bond Name: LTTC Convertible Bonds
LU THAI TEXTILE CO., LTD.
ANNUAL REPORT 2021 (SUMMARY)
Part I Important Notes
This Summary is based on the full Annual Report of Lu Thai Textile Co., Ltd. (together with its consolidated subsidiaries, the
“Company”, except where the context otherwise requires). In order for a full understanding of the Company’s operating results,
financial position and future development plans, investors should carefully read the aforesaid full text, which has been disclosed
together with this Summary on the media designated by the China Securities Regulatory Commission (the “CSRC”).
Independent auditor’s modified opinion:
□ Applicable √ Not applicable
Board-approved final cash and/or stock dividend plan for ordinary shareholders for the Reporting Period:
√ Applicable □ Not applicable
Bonus issue from capital reserves:
□ Yes √ No
The Board has approved a final dividend plan for ordinary shareholders as follows: based on 882,341,295 shares, a cash dividend of
RMB0.70 (tax inclusive) per 10 shares is to be distributed to the shareholders, with no bonus issue from either profit or capital
reserves.
Board-approved final cash and/or stock dividend plan for preferred shareholders for the Reporting Period:
□ Applicable √ Not applicable
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies or
misunderstandings between the two versions, the Chinese versions shall prevail.
Part II Key Corporate Information
1. Stock Profile
Stock name LTTC, LTTC-B Stock code 000726, 200726
Stock exchange for stock listing Shenzhen Stock Exchange
Contact information Board Secretary Securities Representative
Name Zhang Keming Zheng Weiyin and Li Kun
Address 81 Songling East Road, Zichuan District, 81 Songling East Road, Zichuan District,
1
Lu Thai Textile Co., Ltd. Annual Report 2021 (Summary)
Zibo City, Shandong Province, P.R.China Zibo City, Shandong Province, P.R.China
Fax 0533-5418805 0533-5418805
Tel. 0533-5277008 0533-5285166
Email address zhangkeming@lttc.com.cn wyzheng@lttc.com.cn，likun@lttc.com.cn
2. Principal Activities or Products in the Reporting Period
Lu Thai has always adhered to its mission of “creating wealth, contributing to the society, clothing the world and weaving our way to
every corner of the globe”, as well as to its values of “people foremost policy, rigorous scientific attitude, client oriented principle
and integrity for win-win outcome”. It has gradually become a textile and garment enterprise group with comprehensive and vertical
production capacities integrating spinning, bleaching and dyeing, weaving, afterfinish and clothing manufacture. Lu Thai produces
and sells middle and high-grade yarn-dyed fabric, dyeing fabric, functional fabric and knitted fabric for shirts, as well as garment. It
claimed its fame for its comprehensive management, R&D ability, advanced technology, stable quality and international operations.
Moreover, it also attaches great importance to improving the added value of its products, explore the emerging market and renew its
service philosophy. Lu Thai has become the world’s largest high-grade yarn dyed fabric producer and a world-class premium shirt
provider. It had paved its development pattern featured in going green, low-carbon growth, science and technology and humanism.
Over 50% of Lu Thai’s products are exported to over 60 countries and regions including America, the EU and Japan. At present, the
Company's capacity of yarn dyed fabric has made up 18% of the market of global yearn dyed fabric for medium and high-end shirts.
Moreover, the Company has established strategic partnership with renowned brand owners at home and abroad.
3. Key Financial Information
(1) Key Financial Information of the Past Three Years
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes √ No
Unit: RMB
Change of 31
31 December 2021 31 December 2020 December 2021 over 31 December 2019
31 December 2020 (%)
Total assets 12,987,221,271.63 12,129,903,960.65 7.07% 11,885,431,553.08
Equity attributable to the listed
7,983,307,400.03 7,687,577,590.72 3.85% 7,697,135,324.92
company’s shareholders
2021-over-2020
2021 2020 2019
change (%)
Operating revenue 5,238,262,348.85 4,751,222,464.14 10.25% 6,801,381,448.94
Net profit attributable to the listed
347,609,693.30 97,308,593.36 257.22% 952,386,011.49
company’s shareholders
Net profit attributable to the listed
company’s shareholders before 190,492,580.40 20,039,094.03 850.60% 662,416,013.00
exceptional gains and losses
Net cash generated from/used in
348,137,005.48 593,535,922.89 -41.35% 1,086,110,575.51
operating activities
Basic earnings per share 0.39 0.11 254.55% 1.11
2
Lu Thai Textile Co., Ltd. Annual Report 2021 (Summary)
(RMB/share)
Diluted earnings per share
0.36 0.11 227.27% 1.11
(RMB/share)
Weighted average return on equity
4.44% 1.26% 3.18% 12.96%
(%)
(2) Key Financial Information by Quarter
Unit: RMB
Q1 Q2 Q3 Q4
Operating revenue 993,485,161.79 1,226,828,489.15 1,346,367,447.24 1,671,581,250.67
Net profit attributable to the listed
74,530,850.40 78,966,494.26 93,666,571.98 100,445,776.66
company’s shareholders
Net profit attributable to the listed
company’s shareholders before 15,513,465.07 38,768,067.01 80,690,683.49 55,520,364.83
exceptional gains and losses
Net cash generated from/used in
-36,745,428.28 219,506,453.42 61,907,667.37 103,468,312.97
operating activities
Indicate by tick mark whether any of the quarterly financial data in the table above or their summations differs materially from what
have been disclosed in the Company’s quarterly or interim reports.
□ Yes √ No
4. Share Capital and Shareholder Information at the Period-End
(1) Numbers of Ordinary Shareholders and Preferred Shareholders with Resumed Voting Rights as well as
Holdings of Top 10 Shareholders
Unit: share
Number of preferred
Number of Number of ordinary Number of preferred
shareholders with resumed
ordinary shareholders at the shareholders with resumed
57,722 55,183 0 voting rights at the month-end 0
shareholders at month-end prior to the voting rights at the
prior to the disclosure of this
the period-end disclosure of this Report period-end
Report
Top 10 shareholders
Shares in pledge,
Shareholdi Total shares marked or frozen
Restricted
Name of shareholder Nature of shareholder ng held at the
shares held Share
percentage period-end Status
s
Domestic
Zibo Lucheng Textile Investment Co.,
non-state-owned legal 15.91% 140,353,583
Ltd.
person
Tailun (Thailand) Textile Co., Ltd. Foreign legal person 13.40% 118,232,400
Central Huijin Assets Management Co., State-owned legal
2.25% 19,884,100
Ltd. person
Domestic
National Social Security Fund Portfolio
non-state-owned legal 1.11% 9,810,051
413
person
Zhong Ou China Securities Asset
Other 0.59% 5,235,900
Management Plan
Dacheng China Securities Asset
Other 0.59% 5,235,900
Management Plan
3
Lu Thai Textile Co., Ltd. Annual Report 2021 (Summary)
Harvest China Securities Asset
Other 0.59% 5,235,900
Management Plan
GF China Securities Asset Management
Other 0.59% 5,235,900
Plan
Yinhua China Securities Asset
Other 0.59% 5,235,900
Management Plan
Domestic natural
Liao Cuimeng 0.58% 5,142,200
person
Zibo Lucheng Textile Investment Co., Ltd. is the largest
shareholder of the Company and the actual controller. All of other
Related or acting-in-concert parties among the shareholders
shareholders are people holding public A share or public B share
above
and the Company is not able to confirm whether there is associated
relationship or concerted action among other shareholders.
Shareholders involved in securities margin trading (if any) N/A
(2) Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable √ Not applicable
No preferred shareholders in the Reporting Period.
(3) Ownership and Control Relations between the Actual Controller and the Company
5. Outstanding Bonds at the Date when this Report Was Authorized for Issue
√ Applicable □ Not applicable
(1) Bond Profile
Coupon
Bond name Abbr. Bond code Date of issue Maturity Balance (RMB’0,000)
rate
Convertible Corporate LTTC
Bonds of Lu Thai Textile Convertible 127016 9 April 2020 8 April 2026 139,986.86
Co., Ltd. Bonds
Redemption and interest 1. For LTTC Convertible Bonds, the coupon rates are: 0.3% for the first year, 0.6% for the second year,
payments during the 1.0% for the third year, 1.5% for the fourth year, 1.8% for the fifth year, and 2.0% for the sixth year.
Reporting Period 2. On 9 April 2021, the Company paid the interest for the first year according to the par value of the
4
Lu Thai Textile Co., Ltd. Annual Report 2021 (Summary)
bonds, i.e. interest of RMB3.00 (tax inclusive) for every 10 “LTTC Convertible Bonds” (par value:
RMB1,000).
(2) Latest Follow-up Ratings and Rating Changes of the Bonds
The credit rating of the Company's convertible bonds for the Reporting Period is AA+, which has not changed compared with that of
the same period of last year.
(3) Key Financial Information of the Company for the Past Two Years
Unit: RMB'0,000
Item 2021 2020 Change (%)
Debt/asset ratio 35.57% 33.29% 2.28%
Net profit before exceptional
19,049.26 2,003.91 850.60%
gains and losses
EBITDA/debt ratio 28.94% 22.44% 6.50%
Interest coverage (times) 4.49 1.84 144.02%
Part III Significant Events
Not applicable.
Chairman of the Board: Liu Zibin
Lu Thai Textile Co., Ltd.
29 April 2022
5
