Lu Thai Textile Co., Ltd. Annual Report 2022 (Summary)
Stock Code: 000726, 200726 Stock Name: LTTC, LTTC-B Announcement No. 2023-017
Bond Code: 127016 Bond Name: LTTC Convertible Bonds
LU THAI TEXTILE CO., LTD.
ANNUAL REPORT 2022 (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”).
All the Company’s directors have attended the Board meeting for the review of this Report and its summary.
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 as follows: based on 887,633,151 shares, a cash dividend of RMB1.00 (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
Previous stock name (if any) N/A
Contact information Board Secretary Securities Representative
Name Zhang Keming Zheng Weiyin and Li Kun
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Lu Thai Textile Co., Ltd. Annual Report 2022 (Summary)
81 Songling East Road, Zichuan
81 Songling East Road, Zichuan District, Zibo
Address District, Zibo City, Shandong
City, Shandong Province, P.R.China
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 60% of Lu Thai’s products are exported to over 60 countries and regions including America, the EU and Japan. 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 December
31 December 31 December 31 December
2022 over 31 December
2022 2021 2020
2021 (%)
Total assets 13,351,097,602.03 12,987,221,271.63 2.80% 12,129,903,960.65
Equity attributable to the listed
9,014,156,872.71 7,983,307,400.03 12.91% 7,687,577,590.72
company’s shareholders
2022-over-2021 change
2022 2021 2020
(%)
Operating revenue 6,938,342,135.90 5,238,262,348.85 32.46% 4,751,222,464.14
Net profit attributable to the listed
963,864,819.43 347,609,693.30 177.28% 97,308,593.36
company’s shareholders
Net profit attributable to the listed
company’s shareholders before 795,473,953.21 190,492,580.40 317.59% 20,039,094.03
exceptional gains and losses
Net cash generated from/used in
1,422,310,774.26 348,137,005.48 308.55% 593,535,922.89
operating activities
Basic earnings per share (RMB/share) 1.10 0.39 182.05% 0.11
Diluted earnings per share
0.95 0.36 163.89% 0.11
(RMB/share)
Weighted average return on equity (%) 11.31% 4.44% 6.87% 0.01%
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Lu Thai Textile Co., Ltd. Annual Report 2022 (Summary)
(2) Key Financial Information by Quarter
Unit: RMB
Q1 Q2 Q3 Q4
Operating revenue 1,580,088,801.60 1,750,205,661.65 1,876,128,426.25 1,731,919,246.40
Net profit attributable to the listed company’s
159,375,310.19 234,575,542.27 302,015,616.54 267,898,350.43
shareholders
Net profit attributable to the listed company’s
137,429,342.24 228,149,887.40 322,056,642.38 107,838,081.19
shareholders before exceptional gains and losses
Net cash generated from/used in operating
-15,953,827.96 133,436,236.70 611,606,413.58 693,221,951.94
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 Number of Number of preferred
Number of
ordinary preferred shareholders with
ordinary
shareholders at the shareholders resumed voting rights
shareholder 51,905 49,096 0 0
month-end prior to with resumed at the month-end prior
s at the
the disclosure of voting rights at to the disclosure of
period-end
this Report the period-end this Report
Top 10 shareholders
Sharehold Shares in pledge,
Total shares
Nature of ing Restricted marked or frozen
Name of shareholder held at the
shareholder percentag shares held Shar
period-end Status
e es
Zibo Lucheng Textile Investment Domestic non-state-
15.81% 140,353,583
Co., Ltd. owned legal person
Tailun (Thailand) Textile Co., Ltd. Foreign legal person 13.32% 118,232,400
Central Huijin Assets Management State-owned legal
2.24% 19,884,100
Co., Ltd. person
National Social Security Fund Domestic non-state-
1.49% 13,260,051
Portfolio 413 owned legal person
Dacheng China Securities Asset
Other 0.59% 5,235,900
Management Plan
GF China Securities Asset
Other 0.59% 5,235,900
Management Plan
ICBC Credit Suisse Innovation
Power Stock Type Securities Other 0.57% 5,100,000
Investment Fund
FEDERATED HERMES GLOBAL
INVESTMENT FD (CAYMAN)
MASTER, SPC OBOAFTAO Foreign legal person 0.52% 4,623,374
FEDERATED HERMES EMG ASIA
EQUITY FD MASTER S.P.
Harvest China Securities Asset
Other 0.50% 4,460,200
Management Plan
Yinhua China Securities Asset
Other 0.49% 4,392,312
Management Plan
Related or acting-in-concert parties among the shareholders Zibo Lucheng Textile Investment Co., Ltd. is the largest
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Lu Thai Textile Co., Ltd. Annual Report 2022 (Summary)
above shareholder of the Company and the actual controller. Tailun
(Thailand) Textile Co., Ltd. is the second largest shareholder as
well as sponsor of foreign capital of the Company. All of other
shareholders are people holding public A share or public B share
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
Balance Coupo
Bond name Abbr. Bond code Date of issue Maturity
(RMB’0,000) n rate
Convertible
Corporate LTTC
Bonds of Lu Convertible 127016 9 April 2020 8 April 2026 139,985.24
Thai Textile Bonds
Co., Ltd.
1. For LTTC Convertible Bonds, the coupon rates are: 0.3% for the first year, 0.6% for the
second year, 1.0% for the third year, 1.5% for the fourth year, 1.8% for the fifth year, and 2.0%
Redemption and interest
for the sixth year.
payments during the Reporting
2. On 11 April 2022, the Company paid the interest for the second year according to the par
Period
value of the bonds, i.e. interest of RMB6.00 (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
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Lu Thai Textile Co., Ltd. Annual Report 2022 (Summary)
the same period of last year.
(3) Key Financial Information of the Company for the Past Two Years
Unit: RMB'0,000
Item 2022 2021 Change
Debt/asset ratio 29.53% 35.57% -6.04%
Net profit before exceptional
79,547.40 19,049.26 317.59%
gains and losses
EBITDA/debt ratio 66.20% 28.94% 37.25%
Interest coverage (times) 11.25 4.49 150.65%
Part III Significant Events
Not applicable.
Chairman of the Board: Liu Zibin
Lu Thai Textile Co., Ltd.
12 April 2023
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