Stock Code: 000726, 200726 Stock Name: LTTC, LTTC-B Announcement No. 2024-069Bond Code: 127016 Bond Name: LTTC Convertible Bonds
LU THAI TEXTILE CO., LTD.INTERIM REPORT 2024 (SUMMARY)Part I Important Notes
This Summary is based on the full Interim 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 condition and future development plans, investors should carefully read the aforesaid full report, which has been disclosedtogether 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 interim cash and/or stock dividend plan for ordinary shareholders:
? Applicable □ Not applicableBonus issue from capital reserves:
□ Yes ? No
The Board has approved a final dividend plan as follows: based on the share capital of 817,305,896 shares, a cash dividend ofRMB1.00(tax inclusive) per 10 shares is to be distributed to the shareholders, with no bonus issue from either profit or capitalreserves.Board-approved interim cash and/or stock dividend plan for preferred shareholders:
□ Applicable ? Not applicable
This Report and its summary have been prepared in both Chinese and English. Should there be any discrepancies ormisunderstandings 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 | Zheng Weiyin | Li Kun |
| Office address | No. 81, Songling East Road, Zichuan District, Zibo, Shandong, P.R.China | No. 81, Songling East Road, Zichuan District, Zibo, Shandong, P.R.China |
| Tel. | 0533-5285166 | 0533-5285166 |
| E-mail address | wyzheng@lttc.com.cn | likun@lttc.com.cn |
2. Key Financial Information
Indicate by tick mark whether there is any retrospectively restated datum in the table below.
□ Yes ? No
| H1 2024 | H1 2023 | Change (%) | |
| Operating revenue (RMB) | 2,830,488,685.61 | 2,840,491,262.47 | -0.35% |
| Net profit attributable to the listed company’s shareholders (RMB) | 169,559,969.54 | 221,647,998.15 | -23.50% |
| Net profit attributable to the listed company’s shareholders before exceptional gains and losses (RMB) | 263,731,284.55 | 191,809,861.94 | 37.50% |
| Net cash generated from/used in operating activities (RMB) | 451,421,652.69 | 148,610,216.98 | 203.76% |
| Basic earnings per share (RMB/share) | 0.21 | 0.26 | -19.23% |
| Diluted earnings per share (RMB/share) | 0.19 | 0.23 | -17.39% |
| Weighted average return on equity (%) | 1.83% | 2.42% | -0.59% |
| 30 June 2024 | 31 December 2023 | Change (%) | |
| Total assets (RMB) | 13,765,510,933.73 | 13,430,286,222.94 | 2.50% |
| Equity attributable to the listed company’s shareholders (RMB) | 9,302,679,873.38 | 9,230,806,905.80 | 0.78% |
3. Shareholders and Their Holdings as at the End of the Reporting Period
Unit: share
| Number of ordinary shareholders | 45,713 | Number of preferred shareholders with resumed voting rights (if any) | 0 | ||||||
| Top 10 shareholders (exclusive of shares lent in refinancing) | |||||||||
| Name of shareholder | Nature of shareholder | Shareholding percentage | Number of shares | Restricted shares | Shares in pledge, marked or frozen | ||||
| Status | Shares | ||||||||
| Zibo Lucheng Textile Investment Co., Ltd. | Domestic non-state-owned legal person | 17.17% | 140,353,583 | 0 | N/A | 0 | |||
| Tailun (Thailand) Textile Co., Ltd. | Foreign legal person | 14.10% | 115,232,400 | 0 | N/A | 0 | |||
| Central Huijin Assets Management Co., Ltd. | State-owned legal person | 2.43% | 19,884,100 | 0 | N/A | 0 | |||
| National Social Security Fund Portfolio 413 | Other | 1.81% | 14,760,051 | 0 | N/A | 0 | |||
| ICBC Credit Suisse Innovation Power Stock Type Securities Investment Fund | Other | 1.36% | 11,100,000 | 0 | N/A | 0 | |||
| Dongfanghong Zhihua Three-Year Holding Mixed Securities Investment Fund | Other | 0.90% | 7,394,950 | 0 | N/A | 0 |
| National Social Security Fund Portfolio 502 | Other | 0.80% | 6,537,940 | 0 | N/A | 0 |
| Dongfanghong Jingdong Big Data Dynamic Asset Allocation Mixed Securities Investment Fund | Other | 0.77% | 6,324,582 | 0 | N/A | 0 |
| FEDERATED HERMES GLOBAL INVESTMENT FD (CAYMAN) MASTER, SPC OBOAFTAO FEDERATED HERMES EMG ASIA EQUITY FD MASTER S.P. | Foreign legal person | 0.77% | 6,309,111 | 0 | N/A | 0 |
| Dongfanghong Dingyuan 3-Month Fixed Term Open Mixed Initiating Securities Investment Fund | Other | 0.73% | 5,927,800 | 0 | N/A | 0 |
| Related or acting-in-concert parties among the shareholders above | Zibo Lucheng Textile Investment Co., Ltd. is the largest shareholder and the actual controller of the Company. Tailun (Thailand) Textile Co., Ltd. is the second largest shareholder and the foreign sponsor of the Company. All the 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 trading (if any) | Naught | |||||
5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending
□Applicable ? Not applicable
Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with theprior period
□Applicable ? Not applicable
4. Change of the Controlling Shareholder or the Actual Controller in the Reporting PeriodChange of the controlling shareholder in the Reporting Period:
□ Applicable ? Not applicable
The controlling shareholder remained the same in the Reporting Period.Change of the actual controller in the Reporting Period:
□ Applicable ? Not applicable
The actual controller remained the same in the Reporting Period.
5. Number of Preferred Shareholders and Shareholdings of Top 10 of Them
□ Applicable ? Not applicable
No preferred shareholders in the Reporting Period.
6. Outstanding Bonds at the Date when this Report Was Authorized for Issue? Applicable □ Not applicable
(1) Bond Profile
| Bond name | Abbr. | Bond code | Date of issue | Maturity | Balance (RMB’0,000) | Coupon rate |
| Convertible Corporate Bonds of Lu Thai Textile Co., Ltd. | LTTC Convertible Bonds | 127016 | 9 April 2020 | 8 April 2026 | 139,984.77 | First year: 0.3% Second year: 0.6% Third year: 1.0% Fourth year: 1.5% Fifth year: 1.8% Sixth year: 2.0%。 |
(2) Relevant Financial Information as of the End of the Reporting Period
| Item | 30 June 2024 | 31 December 2023 |
| Debt/asset ratio | 29.58% | 28.39% |
| Item | H1 2024 | H1 2023 |
| EBITDA-to-interest cover (times) | 9.85 | 10.90 |
Part III Significant EventsThe Proposal on Repurchase of Domestically Listed Foreign Shares (B-Share) was approved at the 10th Meeting of the 10th Boardof Directors and the First Extraordinary General Meeting of 2023. As such, an amount of no more than RMB200 million would beused to repurchase shares, with a price limit of HKD4.80 per share, within 12 months from the date when the share repurchaseplan was approved at the general meeting. On 21 August 2023, the Company carried out the first repurchase. As of 21 February2024, the Company had completed the implementation of above-mentioned Repurchase Plan of Domestically Listed ForeignShares (B-Share). The Company accumulatively repurchased 46,176,428 B-shares (5.35% of the Company’s total share capital).With the highest repurchase price being HKD4.80/share and the lowest being HKD4.53/share, the total payment for thisrepurchase plan was HKD218,386,229.84 (inclusive of commissions and alike).The Company completed the formalities for cancellation of the foregoing repurchased shares at the Shenzhen Branch of ChinaSecurities Depository and Clearing Corporation Limited on 1 March 2024.
Chairman of the Board: Liu Zibin
Lu Thai Textile Co., Ltd.
30 August 2024