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 817306010 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

1Lu Thai Textile Co. Ltd. Annual Report 2024 (Summary)

2. Principal Activities or Products in the Reporting PeriodLu Thai has always adhered to its mission of “clothing the world and weaving our way to every corner of the globe greenintelligence manufacturing and improving lives” as well as to its values of “customer first striving for progress pursuing excellenceand 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 13929715649.21 13430286222.94 3.72% 13351097602.03

Equity attributable to the listed

9438728389.289230806905.802.25%9014156872.71

company’s shareholders

2024-over-2023

202420232022

change (%)

Operating revenue 6090615025.20 5961477252.98 2.17% 6938342135.90

Net profit attributable to the listed

410321398.17403444254.421.70%963864819.43

company’s shareholders

Net profit attributable to the listed

company’s shareholders before 482338741.63 386135437.00 24.91% 795473953.21

exceptional gains and losses

Net cash generated from/used in

1244212151.94854864537.4245.54%1422310774.26

operating activities

Basic earnings per share

0.500.476.38%1.10

(RMB/share)

Diluted earnings per share

0.470.4211.90%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 1382655063.47 1447833622.14 1570583102.90 1689543236.69

Net profit attributable to the

68241726.33101318243.21118293394.86122468033.77

listed company’s shareholders

Net profit attributable to the

listed company’s shareholders

122504699.15141226585.4087100142.55131507314.53

before exceptional gains and

losses

2Lu Thai Textile Co. Ltd. Annual Report 2024 (Summary)

Net cash generated from/used in

93395090.36358026562.33309665213.19483125286.06

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 472 with

47043 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% 140353583 0 N/A 0

Investment Co. Ltd. owned legal

person

Tailun (Thailand) Textile Co. Foreign legal

14.10% 115232400 0 N/A 0

Ltd. person

Central Huijin Asset State-owned

2.43% 19884100 0 N/A 0

Management Ltd. legal person

National Social Security Fund

Other 1.82% 14910051 0 N/A 0

Portfolio 413

ICBC Credit Suisse Innovation

Power Stock Type Securities Other 1.47% 12000000 0 N/A 0

Investment Fund

Dongfanghong Zhihua Three-

Year Holding Mixed Securities Other 0.81% 6600000 0 N/A 0

Investment Fund

FEDERATED HERMES

GLOBAL INVESTMENT FD

(CAYMAN) MASTER SPC Foreign legal

0.78% 6334711 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% 5889382 0 N/A 0

Securities Investment Fund

Dongfanghong New Power

Flexible Allocation Mixed Other 0.60% 4893800 0 N/A 0

Securities Investment Fund

Domestic

Chen Aiting 0.57% 4631466 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

3Lu 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’0000) rate

Convertible Corporate LTTC

Bonds of Lu Thai Convertible 127016 9 April 2020 8 April 2026 139984.47

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 thepar value of the bonds i.e. interest of RMB15.00 (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 2024 2023 Change

Debt/asset ratio 29.49% 28.39% 1.10%

Net profit before exceptional

48233.8738613.5424.91%

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

4Lu 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 46176428 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 HKD218386229.84 (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

5