Lu Thai Textile Co., Ltd. Annual Report 2024 (Summary)
Stock Code: 000726, 200726 Stock Name: LTTC, LTTC-B Announcement No. 2025-011
Bond Code: 127016 Bond Name: LTTC Convertible Bonds
LU THAI TEXTILE CO., LTD.
ANNUAL REPORT 2024 (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 the share capital of 817,306,010 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
Part II Key Corporate Information
1. Stock Profile
000726,
Stock name LTTC-A, LTTC-B Stock code
200726
Stock exchange for stock listing Shenzhen Stock Exchange
Previous stock name (if any) None
Contact information Board Secretary Securities Representative
Name Zheng Weiyin Li Kun
81 Songling East Road, Zichuan 81 Songling East Road, Zichuan
Address District, Zibo City, Shandong District, Zibo City, Shandong
Province, P.R.China Province, P.R.China
Fax 0533-5418805 0533-5418805
Tel. 0533-5285166 0533-5285166
Email address wyzheng@lttc.com.cn likun@lttc.com.cn
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Lu Thai Textile Co., Ltd. Annual Report 2024 (Summary)
2. Principal Activities or Products in the Reporting Period
Lu Thai has always adhered to its mission of “clothing the world and weaving our way to every corner of the globe, green
intelligence manufacturing, and improving lives”, as well as to its values of “customer first, striving for progress, pursuing excellence,
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. 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 2024
31 December 2024 31 December 2023 over 31 31 December 2022
December 2023
(%)
Total assets 13,929,715,649.21 13,430,286,222.94 3.72% 13,351,097,602.03
Equity attributable to the listed
9,438,728,389.28 9,230,806,905.80 2.25% 9,014,156,872.71
company’s shareholders
2024-over-2023
2024 2023 2022
change (%)
Operating revenue 6,090,615,025.20 5,961,477,252.98 2.17% 6,938,342,135.90
Net profit attributable to the listed
410,321,398.17 403,444,254.42 1.70% 963,864,819.43
company’s shareholders
Net profit attributable to the listed
company’s shareholders before 482,338,741.63 386,135,437.00 24.91% 795,473,953.21
exceptional gains and losses
Net cash generated from/used in
1,244,212,151.94 854,864,537.42 45.54% 1,422,310,774.26
operating activities
Basic earnings per share
0.50 0.47 6.38% 1.10
(RMB/share)
Diluted earnings per share
0.47 0.42 11.90% 0.95
(RMB/share)
Weighted average return on
4.39% 4.40% -0.01% 11.31%
equity (%)
(2) Key Financial Information by Quarter
Unit: RMB
Q1 Q2 Q3 Q4
Operating revenue 1,382,655,063.47 1,447,833,622.14 1,570,583,102.90 1,689,543,236.69
Net profit attributable to the
68,241,726.33 101,318,243.21 118,293,394.86 122,468,033.77
listed company’s shareholders
Net profit attributable to the
listed company’s shareholders
122,504,699.15 141,226,585.40 87,100,142.55 131,507,314.53
before exceptional gains and
losses
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Lu Thai Textile Co., Ltd. Annual Report 2024 (Summary)
Net cash generated from/used in
93,395,090.36 358,026,562.33 309,665,213.19 483,125,286.06
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
Number of
Number of preferred
preferred
ordinary shareholders
shareholders
shareholders at with resumed
Number of ordinary 47,2 with
47,043 the month-end 0 voting rights at 0
shareholders at the period-end 19 resumed
prior to the the month-end
voting rights
disclosure of prior to the
at the
this Report disclosure of this
period-end
Report
Top 10 shareholders (exclusive of shares lent in refinancing)
Shares in pledge,
Nature of Shareholding Total shares held at Restricted
Name of shareholder marked or frozen
shareholder percentage the period-end shares held
Status Shares
Domestic
Zibo Lucheng Textile non-state-
17.17% 140,353,583 0 N/A 0
Investment Co., Ltd. owned legal
person
Tailun (Thailand) Textile Co., Foreign legal
14.10% 115,232,400 0 N/A 0
Ltd. person
Central Huijin Asset State-owned
2.43% 19,884,100 0 N/A 0
Management Ltd. legal person
National Social Security Fund
Other 1.82% 14,910,051 0 N/A 0
Portfolio 413
ICBC Credit Suisse Innovation
Power Stock Type Securities Other 1.47% 12,000,000 0 N/A 0
Investment Fund
Dongfanghong Zhihua Three-
Year Holding Mixed Securities Other 0.81% 6,600,000 0 N/A 0
Investment Fund
FEDERATED HERMES
GLOBAL INVESTMENT FD
(CAYMAN) MASTER, SPC Foreign legal
0.78% 6,334,711 0 N/A 0
OBOAFTAO FEDERATED person
HERMES EMG ASIA
EQUITY FD MASTER S.P.
Dongfanghong JD Big Data
Flexible Allocation Mixed Other 0.72% 5,889,382 0 N/A 0
Securities Investment Fund
Dongfanghong New Power
Flexible Allocation Mixed Other 0.60% 4,893,800 0 N/A 0
Securities Investment Fund
Domestic
Chen Aiting 0.57% 4,631,466 0 N/A 0
natural person
Zibo Lucheng Textile Investment Co., Ltd. is the largest shareholder and the
actual controller of the Company. Tailun (Thailand) Textile Co., Ltd. is the
Related or acting-in-concert parties among the second largest shareholder and the foreign sponsor of the Company. All the
shareholders above other shareholders are holding tradable A-shares or B-shares. And it is
unknown whether there is any related party or acting-in-concert party among
them.
Shareholders involved in securities margin
Naught
trading (if any)
Participation of shareholders with a shareholding bigger than 5%, the top ten shareholders, and the top ten shareholders of non-
restricted tradable shares in the lending of shares through refinancing
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Lu Thai Textile Co., Ltd. Annual Report 2024 (Summary)
□ Applicable Not applicable
Changes in the top ten shareholders and the top ten shareholders of non-restricted tradable shares from the previous Period due to
lending/return through refinancing
□ Applicable Not applicable
(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
Liu Zibin Liu Deming
Zibo Lucheng Textile Investment Co., Ltd.
Lu Thai Textile Co., Ltd.
5. Outstanding Bonds at the Date when this Report Was Authorized for Issue
Applicable □ Not applicable
(1) Bond Profile
Bond Balance Coupon
Bond name Abbr. Date of issue Maturity
code (RMB’0,000) rate
Convertible Corporate LTTC
Bonds of Lu Thai Convertible 127016 9 April 2020 8 April 2026 139,984.47
Textile Co., Ltd. Bonds
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
Redemption and interest payments year, and 2.0% for the sixth year.
during the Reporting Period 2. On 9 April 2024, the Company paid the interest for the fourth year according to the
par value of the bonds, i.e. interest of RMB15.00 (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 2024 2023 Change
Debt/asset ratio 29.49% 28.39% 1.10%
Net profit before exceptional
48,233.87 38,613.54 24.91%
gains and losses
EBITDA/debt ratio 39.11% 41.97% -2.86%
Interest coverage (times) 5.55 5.29 4.91%
Part III Significant Events
The Proposal on Repurchase of Domestically Listed Foreign Shares (B-Stock) was approved at the 10th Meeting of the 10th Board
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Lu Thai Textile Co., Ltd. Annual Report 2024 (Summary)
of Directors and the First Extraordinary General Meeting of 2023. As such, an amount of no more than RMB200 million would be
used to repurchase shares, with a price limit of HKD4.80 per share, within 12 months from the date when the share repurchase plan
was approved at the general meeting. On 21 August 2023, the Company first implemented a repurchase plan. As at 21 February 2024,
the repurchase of the Company's B-shares listed domestically had been completed, with a total of 46,176,428 shares repurchased,
accounting for 5.35% of the total share capital. The highest repurchase price was HKD4.80 per share, and the lowest was HKD4.53
per share. The total payment amounted to HKD218,386,229.84 (including commissions, etc.).
On 1 March 2024, the repurchased B-shares were cancelled and the procedure was completed with China Securities Depository and
Clearing Corporation Limited Shenzhen Branch. For details, see the relevant announcement (No.: 2024-015) disclosed on 2 March
2024 on www.cninfo.com.cn.
Chairman of the Board: Liu Zibin
Lu Thai Textile Co., Ltd.
10 April 2025
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