Lu Thai Textile Co. Ltd. Annual Report 2023 (Summary)

Stock Code: 000726 200726 Stock Name: LTTC LTTC-B Announcement No. 2024-022

Bond Code: 127016 Bond Name: LTTC Convertible Bonds

LU THAI TEXTILE CO. LTD.ANNUAL REPORT 2023 (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 disc losed

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 817431206 shares (exclusive of repurchased

and retired B-shares) a cash dividend of RMB1.30 (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

1Lu Thai Textile Co. Ltd. Annual Report 2023 (Summary)

Contact information Board Secretary Securities Representative

Name Zhang Keming Zheng Weiyin and Li Kun

81 Songling East Road Zichuan District 81 Songling East Road Zichuan District Zibo

Address

Zibo City Shandong Province P.R.China 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 PeriodLu Thai has always adhered to its mission of “creating wealth contributing to the society clothing the world and weaving our wayto every corner of the globe” as well as to its values of “people foremost policy rigorous scientific attitude client oriented principleand 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

31 December 2023 31 December 2022 December 2023 over 31 December 2021

31 December 2022 (%)

Total assets 13430286222.94 13351097602.03 0.59% 12987221271.63

Equity attributable to the listed

9230806905.809014156872.712.40%7983307400.03

company’s shareholders

2023-over-2022 change

202320222021

(%)

Operating revenue 5961477252.98 6938342135.90 -14.08% 5238262348.85

Net profit attributable to the listed

403444254.42963864819.43-58.14%347609693.30

company’s shareholders

Net profit attributable to the listed

company’s shareholders before 386135437.00 795473953.21 -51.46% 190492580.40

exceptional gains and losses

Net cash generated from/used in

854864537.421422310774.26-39.90%348137005.48

operating activities

Basic earnings per share

0.471.10-57.27%0.39

(RMB/share)

2Lu Thai Textile Co. Ltd. Annual Report 2023 (Summary)

Diluted earnings per share

0.420.95-55.79%0.36

(RMB/share)

Weighted average return on

4.40%11.31%-6.91%4.44%

equity (%)

(2) Key Financial Information by Quarter

Unit: RMB

Q1 Q2 Q3 Q4

Operating revenue 1378301160.57 1462190101.90 1502888352.91 1618097637.60

Net profit attributable to the listed

95759162.05125888836.10113464972.8668331283.41

company’s shareholders

Net profit attributable to the listed

company’s shareholders before 51332367.74 140477494.20 110981395.05 83344180.01

exceptional gains and losses

Net cash generated from/used in

-36789172.94185399389.9212047210.33694207110.11

operating activities

Indicate by tick mark whether any of the quarterly financial data in the table above or their summations differs materially f rom 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

ordinary

preferred shareholders with

Number of ordinary shareholders at

shareholders resumed voting rights

shareholders at the 49725 the month-end 48031 0 0

with resumed at the month-end prior

period-end prior to the

voting rights at to the disclosure of

disclosure of this

the period-end this Report

Report

Top 10 shareholders (exclusive of shares lent in refinancing)

Shareho Shares in pledge

Total shares

Nature of lding Restricted marked or frozen

Name of shareholder held at the

shareholder percenta shares held

period-end Status Shares

ge

Domestic non-

Zibo Lucheng Textile Investment Co. Ltd. state-owned legal 16.25% 140353583 0 N/A 0

person

Foreign legal

Tailun (Thailand) Textile Co. Ltd. 13.69% 118232400 0 N/A 0

person

State-owned legal

Central Huijin Assets Management Co. Ltd. 2.30% 19884100 0 N/A 0

person

National Social Security Fund Portfolio 413 Other 1.64% 14190051 0 N/A 0

ICBC Credit Suisse Innovation Power Stock

Other 1.38% 11910000 0 N/A 0

Type Securities Investment Fund

ICBC Credit Suisse Selected Balanced Mixed

Other 0.84% 7230000 0 N/A 0

Securities Investment Fund

Dongfanghong Zhihua Three-Year Holding

Other 0.75% 6451750 0 N/A 0

Mixed Securities Investment Fund

FEDERATED HERMES GLOBAL Foreign legal

0.72% 6200183 0 N/A 0

INVESTMENT FD (CAYMAN) MASTER person

3Lu Thai Textile Co. Ltd. Annual Report 2023 (Summary)

SPC OBOAFTAO FEDERATED HERMES

EMG ASIA EQUITY FD MASTER S.P.Dongfanghong Dingyuan 3-Month Fixed Term

Open Mixed Initiating Securities Investment Other 0.61% 5276400 0 N/A 0

Fund

Dacheng China Securities Asset Management

Other 0.60% 5144200 0 N/A 0

Plan

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

Related or acting-in-concert parties among the shareholders above

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

Top 10 shareholders involved in refinancing shares lending

□Applicable □ Not applicable

Changes in shares that the top 10 shareholders lend in refinancing compared with the prior period

□ Applicable □ Not applicable

Unit: share

Changes in shares that the top 10 shareholders lend in refinancing compared with the end of the prior period

Increase/de Shares in the common account and credit

Shares lent in refinancing and not yet

crease in account plus shares lent in refinancing and returned at the period-end

Full name of shareholder the not yet returned at the period-end

Reporting As % of total share As % of total share

Total shares Total shares

Period capital capital

GF Fund-ABC- GF China

Securities Asset Decrease 0 0.00% 4833300 0.56%

Management Plan

Harvest Fund-ABC-

Harvest China Securities Decrease 0 0.00% 3674700 0.43%

Asset Management Plan

Yinhua Fund-ABC- Yinhua

China Securities Asset Decrease 0 0.00% 4320212 0.50%

Management Plan

CCB- ICBC Credit Suisse

Selected Balanced Mixed Increase 0 0.00% 7230000 0.84%

Securities Investment Fund

CCB- Dongfanghong

Zhihua Three-Year

Increase 0 0.00% 6451750 0.75%

Holding Mixed Securities

Investment Fund

Shanghai Pudong

Development Bank Co.Ltd.- Dongfanghong

Dingyuan 3-Month Fixed Increase 0 0.00% 5276400 0.61%

Term Open Mixed

Initiating Securities

Investment Fund

(2) Number of Preferred Shareholders and Shareholdings of Top 10 of Them

□ Applicable □ Not applicable

No preferred shareholders in the Reporting Period.

4Lu Thai Textile Co. Ltd. Annual Report 2023 (Summary)

(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

Coup

Balance

Bond name Abbr. Bond code Date of issue Maturity on

(RMB’0000)

rate

Convertible Corporate LTTC

Bonds of Lu Thai Convertible 127016 9 April 2020 8 April 2026 139984.94

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 year and

Redemption and interest payments 2.0% for the sixth year.during the Reporting Period 2. On 10 April 2023 the Company paid the interest for the third year according to the parvalue of the bonds i.e. interest of RMB10.00 (tax inclusive) for every 10 “LTTCConvertible Bonds” (par value: RMB1000).

(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'0000

Item 2023 2022 Change

Debt/asset ratio 28.39% 29.53% -1.14%

Net profit before exceptional gains and losses 38613.54 79547.4 -51.46%

EBITDA/debt ratio 41.97% 66.20% -24.23%

Interest coverage (times) 5.29 11.25 -52.98%

5Lu Thai Textile Co. Ltd. Annual Report 2023 (Summary)

Part III Significant Events

The Company completed the formalities for cancellation of the 23935748 B shares repurchased during the period from 27 July

2022 to 8 May 2023 at the Shenzhen Branch of China Securities Depository and Clearing Corporation Limited on 25 May 2023.

For details see the Company’s Announcement No. 2023-034 disclosed on www.cninfo.com.cn at 26 May 2023.The Proposal on Repurchase of Domestically Listed Foreign Shares (B-Stock) was approved at the 10th Meeting of the 10th Board

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 mont hs from the date when the share repurchase

plan was approved at the general meeting. For details see the relevant announcements (No.: 2023-043 2023-044 2023-053 2023-

054 and 2023-055) and documents disclosed on 20 June 2023 and 7 July 2023 on www.cninfo.com.cn.

Chairman of the Board: Liu Zibin

Lu Thai Textile Co. Ltd.

12 April 2024

6