Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

Stock Code: 000726 200726 Stock Name: LTTC LTTC-B Announcement No. 2024-081

Bond Code: 127016 Bond Name: LTTC Convertible Bonds

LU THAI TEXTILE CO. LTD.THIRD QUARTERLY REPORT 2024

Lu Thai Textile Co. Ltd. (hereinafter referred to as the “Company”) and all the members of the

Company’s Board of Directors hereby guarantee that the contents of this Report are true accurate and

complete and free of any misrepresentations misleading statements or material omissions.Important Notes:

1. The Board of Directors the Supervisory Committee as well as the directors supervisors and senior

management of the Company hereby guarantee that the contents of this Report are true accurate and complete

and free of any misrepresentations misleading statements or material omissions and collectively and

individually accept legal responsibility for such contents.

2. The Company’s legal representative chief accountant and financial manager hereby guarantee that the

financial statements carried in this Report are true accurate and complete.

3. Indicate whether the financial statements in this Report have been audited by an independent auditor.

□Yes □ No

I Key Financial Information

(I) Key Accounting Data and Financial Indicators

Indicate whether there is any retrospectively restated datum in the table below.□Yes □ No

Q3 2024 YoY change (%) Q1-Q3 2024 YoY change (%)

Operating revenue (RMB) 1570583102.90 4.50% 4401071788.51 1.33%

Net profit attributable to the listed company’s

118293394.864.26%287853364.40-14.10%

shareholders (RMB)

Net profit attributable to the listed company’s

shareholders before exceptional gains and 87100142.55 -21.52% 350831427.10 15.87%

losses (RMB)

Net cash generated from/used in operating

——761086865.88373.73%

activities (RMB)

Basic earnings per share (RMB/share) 0.14 7.69% 0.35 -10.26%

Diluted earnings per share (RMB/share) 0.14 7.69% 0.33 -8.33%

Weighted average return on equity (%) 1.27% 0.04% 3.10% -0.55%

1Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

30 September 2024 31 December 2023 Change (%)

Total assets (RMB) 13797637848.14 13430286222.94 2.74%

Equity attributable to the listed company’s

9292679481.509230806905.800.67%

shareholders (RMB)

(II) Exceptional Gains and Losses

□ Applicable □ Not applicable

Unit: RMB

Item Q3 2024 Q1-Q3 2024 Note

Gain or loss on disposal of non-current assets (inclusive of impairment allowance

114169.55-285181.47

write-offs)

Government grants recognised in profit or loss (exclusive of those that are

closely related to the Company's normal business operations and given in

10020351.1225033489.87

accordance with defined criteria and in compliance with government policies

and have a continuing impact on the Company's profit or loss)

Gain or loss on fair-value changes in financial assets and liabilities held by a

non-financial enterprise as well as on disposal of financial assets and liabilities

28092236.10-97577618.18

(exclusive of the effective portion of hedges that is related to the Company's

normal business operations)

Reverse of provision for impairment of accounts receivable individually

317052.50317052.50

conducting impairment test

Non-operating income and expense other than the above -571381.91 106435.55

Less: Income tax effects 6433322.05 -9622940.25

Non-controlling interests effects (net of tax) 345853.00 195181.22

Total 31193252.31 -62978062.70 --

Other items that meet the definition of exceptional gain/loss:

□Applicable □ Not applicable

No such cases in the Reporting Period.Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement

No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items:

□Applicable □ Not applicable

No such cases in the Reporting Period.(III) Changes in Key Financial Information and Explanation of why

□ Applicable □ Not applicable

Q1-Q3 2024

Item YoY Change (%) Main reason for change

2Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

Net cash generated from/used in operating Decrease in cash paid for purchasing goods and

373.73

activities (RMB) accepting labor services

II Shareholder Information

(I) Numbers of Ordinary Shareholders and Preference Shareholders with Resumed Voting Rights as well

as Holdings of Top 10 Shareholders

Unit: share

Number of preferred shareholders with resumed

Number of ordinary shareholders at the period-end 47468 0

voting rights at the period-end (if any)

Top 10 shareholders (exclusive of shares lent in refinancing)

Shareho Shares in pledge marked or

Nature of

lding Total shares Restricted frozen

Name of shareholder shareholde

percenta held shares held

r Status Shares

ge

Domestic

non-state-

Zibo Lucheng Textile Investment Co. Ltd. owned 17.17% 140353583 0 N/A 0

corporatio

n

Foreign

Tailun (Thailand) Textile Co. Ltd. corporatio 14.10% 115232400 0 N/A 0

n

State-

owned

Central Huijin Assets Management Co. Ltd. 2.43% 19884100 0 N/A 0

corporatio

n

National Social Security Fund Portfolio 413 Other 1.81% 14760051 0 N/A 0

ICBC Credit Suisse Innovation Power Stock

Other 1.36% 11100000 0 N/A 0

Securities Investment Fund

Dongfanghong Zhihua Three-Year Holding Mixed

Other 0.92% 7484150 0 N/A 0

Securities Investment Fund

Dongfanghong Jingdong Big Data Dynamic Asset

Other 0.78% 6391082 0 N/A 0

Allocation Mixed Securities Investment Fund

FEDERATED HERMES GLOBAL INVESTMENT

Foreign

FD (CAYMAN) MASTER SPC OBOAFTAO

corporatio 0.77% 6309111 0 N/A 0

FEDERATED HERMES EMG ASIA EQUITY FD

n

MASTER S.P.Dongfanghong New Power Dynamic Asset

Other 0.72% 5889830 0 N/A 0

Allocation Mixed Securities Investment Fund

Dacheng China Securities Asset Management Plan Other 0.63% 5144200 0 N/A 0

Top 10 unrestricted shareholders (exclusive of shares lent in refinancing and locked shares of executives)

Shares by type and number

Name of shareholder Unrestricted shares held

Type Shares

RMB-

Zibo Lucheng Textile Investment Co. Ltd. 140353583 denominated 140353583

ordinary stock

Domestically

Tailun (Thailand) Textile Co. Ltd. 115232400 115232400

listed foreign

3Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

stock

RMB-

Central Huijin Assets Management Co. Ltd. 19884100 denominated 19884100

ordinary stock

RMB-

National Social Security Fund Portfolio 413 14760051 denominated 14760051

ordinary stock

RMB-

ICBC Credit Suisse Innovation Power Stock Type Securities

11100000 denominated 11100000

Investment Fund

ordinary stock

RMB-

Dongfanghong Zhihua Three-Year Holding Mixed Securities

7484150 denominated 7484150

Investment Fund

ordinary stock

RMB-

Dongfanghong Jingdong Big Data Dynamic Asset Allocation

6391082 denominated 6391082

Mixed Securities Investment Fund

ordinary stock

FEDERATED HERMES GLOBAL INVESTMENT FD Domestically

(CAYMAN) MASTER SPC OBOAFTAO FEDERATED 6309111 listed foreign 6309111

HERMES EMG ASIA EQUITY FD MASTER S.P. stock

RMB-

Dongfanghong New Power Dynamic Asset Allocation Mixed

5889830 denominated 5889830

Securities Investment Fund

ordinary stock

RMB-

Dacheng China Securities Asset Management Plan 5144200 denominated 5144200

ordinary stock

Zibo Lucheng Textile Investment Co. Ltd. is the largest shareholder

of the Company and the actual controller. Tailun (Thailand) Textile

Co. Ltd. is the second largest shareholder as well as sponsor of

Related or acting-in-concert parties among the shareholders above foreign capital of the Company. All of other shareholders are people

holding public A share or B share and the Company is not able to

confirm whether there is associated relationship or concerted action

among other shareholders.Top 10 shareholders engaged 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 the

prior period

□Applicable □ Not applicable

(II) Number of Preference Shareholders and Shareholdings of Top 10 of Them

□Applicable □ Not applicable

III Other Significant Events

□ Applicable □ Not applicable

The Proposal on Repurchase of Domestically Listed Foreign Shares (B-Share) 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 months from the date when the share repurchase

plan was approved at the general meeting. On 21 August 2023 the Company carried out the first repurchase. As of 21 February

2024 the Company had completed the implementation of the Repurchase Plan of Domestically Listed Foreign Shares (B-Share).

The Company accumulatively repurchased 46176428 B-shares (5.35% of the Company ’s total share capital). With the highest

4Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

repurchase price being HKD4.80/share and the lowest being HKD4.53/share the total payment for this repurchase plan was

HKD218386229.84 (inclusive of commissions and alike).The Company completed the formalities for cancellation of the foregoing repurchased shares at the Shenzhen Branch of China

Securities Depository and Clearing Corporation Limited on 1 March 2024.IV Quarterly Financial Statements

(I) Financial Statements

1. Consolidated Balance Sheet

Prepared by Lu Thai Textile Co. Ltd.

30 September 2024

Unit: RMB

Item 30 September 2024 1 January 2024

Current assets:

Monetary assets 1853207119.84 1558252048.03

Held-for-trading financial assets 747510705.28 723800275.39

Derivative financial assets

Notes receivable 64337683.35 99642708.67

Accounts receivable 805844456.12 826467684.78

Receivables financing 24826658.60 18248205.76

Prepayments 76082787.86 51863447.56

Other receivables 25333003.76 22168807.43

Including: Interest receivable

Dividends receivable

Inventories 2075570015.72 2124139574.70

Other current assets 108137303.73 145112114.03

Total current assets 5780849734.26 5569694866.35

Non-current assets:

Long-term equity investments 141561054.51 143537479.77

Investments in other equity

instruments

Other non-current financial assets 88750000.00 88750000.00

Investment property 18901194.36 19578175.93

Fixed assets 6051371662.54 5597692505.07

Construction in progress 198625943.52 868496878.41

Right-of-use assets 486069906.50 463226419.21

Intangible assets 335529696.20 343347879.42

Goodwill 20563803.29 20563803.29

5Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

Long-term prepaid expense 1963385.98 1815838.60

Deferred income tax assets 144129537.53 157892110.06

Other non-current assets 529321929.45 155690266.83

Total non-current assets 8016788113.88 7860591356.59

Total assets 13797637848.14 13430286222.94

Current liabilities:

Short-term borrowings 602165111.98 580704772.27

Held-for-trading financial liabilities 16341190.82 46785831.47

Derivative financial liabilities

Notes payable

Accounts payable 230620472.74 275502915.05

Advances from customers

Contract liabilities 167813395.72 188073335.89

Employee benefits payable 265985481.12 284344973.72

Taxes and levies payable 33508397.49 42633232.55

Other payables 101421755.75 47549373.52

Including: Interest payable

Dividends payable 82171703.24 441113.64

Current portion of non-current

24782937.6296207192.49

liabilities

Other current liabilities 45666336.66 63646908.11

Total current liabilities 1488305079.90 1625448535.07

Non-current liabilities:

Long-term borrowings 702435622.24 259992974.40

Bonds payable 1495795382.51 1476572070.79

Lease liabilities 95212595.82 86580224.41

Long-term payables

Long-term employee benefits

57276675.6157276675.61

payable

Provisions

Deferred income 147031058.41 151768947.92

Deferred income tax liabilities 141525210.57 155178797.04

Other non-current liabilities

Total non-current liabilities 2639276545.16 2187369690.17

Total liabilities 4127581625.06 3812818225.24

Owners’ equity:

Share capital 817305896.00 863607634.00

Other equity instruments 71383489.10 71383677.78

6Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

Capital reserves 178499116.62 334792614.76

Less: Treasury stock 193438720.78

Other comprehensive income 101224554.31 131343141.63

Specific reserve 1274858.74

Surplus reserves 1260661015.34 1260661015.34

General reserve

Retained earnings 6862330551.39 6762457543.07

Total equity attributable to owners of the

9292679481.509230806905.80

Company as the parent

Non-controlling interests 377376741.58 386661091.90

Total owners’ equity 9670056223.08 9617467997.70

Total liabilities and owners’ equity 13797637848.14 13430286222.94

Legal representative: Liu Zibin The Company’s chief accountant: Zhang Keming

The Company’s financial manager: Zhang Keming

2. Consolidated Income Statement for Q1~Q3

Unit: RMB

Item Q1~Q3 2024 Q1~Q3 2023

1. Revenues 4401071788.51 4343379615.38

Including: Operating revenue 4401071788.51 4343379615.38

2. Costs and expenses 3949265288.12 3961187521.18

Including: Cost of sales 3327014352.69 3367798201.96

Taxes and levies 46015112.71 51710880.20

Selling expense 97952762.23 99779947.00

Administrative expense 252202540.45 282144753.70

Development costs 167202848.33 189722944.72

Finance costs 58877671.71 -29969206.40

Including: Interest expense 75098273.62 62229138.75

Interest income 42885186.29 38423491.50

Add: Other income 24949464.95 30625776.56

Return on investment (“-” for loss) -33878369.88 55261510.68

Including: Share of profit or loss of joint ventures and

-1976425.265607536.15

associates

Income from the derecognition of financial

assets at amortized cost (“-” for loss)

Exchange gain (“-” for loss)

Net gain on exposure hedges (“-” for loss)

Gain on changes in fair value (“-” for loss) -62087918.10 -42630957.32

7Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

Credit impairment loss (“-” for loss) -219625.91 9173784.96

Asset impairment loss (“-” for loss) -51031673.07 -73776454.27

Asset disposal income (“-” for loss) 659366.06 -4600817.87

3. Operating profit (“-” for loss) 330197744.44 356244936.94

Add: Non-operating income 5006318.76 6999573.15

Less: Non-operating expense 5844430.74 3238418.45

4. Gross profit (“-” for loss) 329359632.46 360006091.64

Less: Income tax expense 31023398.44 39272407.86

5. Net profit (“-” for net loss) 298336234.02 320733683.78

5.1 By operating continuity

5.1.1 Net profit from continuing operations (“-” for net

298336234.02320733683.78

loss)

5.1.2 Net profit from discontinued operations (“-” for net

loss)

5.2 By ownership

5.2.1 Net profit attributable to shareholders of the Company as

287853364.40335112971.01

the parent (“-” for net loss)

5.2.2 Net profit attributable to non-controlling interests (“-”

10482869.62-14379287.23

for net loss)

6. Other comprehensive income net of tax -30118587.32 60007344.06

Attributable to owners of the Company as the parent -30118587.32 60007344.06

6.1 Items that will not be reclassified to profit or loss

6.1.1 Changes caused by remeasurements on defined

benefit schemes

6.1.2 Other comprehensive income that will not be

reclassified to profit or loss under the equity method

6.1.3 Changes in the fair value of investments in other

equity instruments

6.1.4 Changes in the fair value arising from changes in own

credit risk

6.1.5 Other

6.2 Items that will be reclassified to profit or loss -30118587.32 60007344.06

6.2.1 Other comprehensive income that will be reclassified

to profit or loss under the equity method

6.2.2 Changes in the fair value of other debt investments

6.2.3 Other comprehensive income arising from the

reclassification of financial assets

6.2.4 Credit impairment allowance for other debt

investments

6.2.5 Reserve for cash flow hedges

6.2.6 Differences arising from the translation of foreign

-30063875.5760321769.50

currency-denominated financial statements

6.2.7 Other -61594.73 -314425.44

Attributable to non-controlling interests

7. Total comprehensive income 268217646.70 380741027.84

8Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

7.1 Attributable to owners of the Company as the parent 257734777.08 395120315.07

7.2 Attributable to non-controlling interests 10482869.62 -14379287.23

8. Earnings per share

8.1 Basic earnings per share 0.35 0.39

8.2 Diluted earnings per share 0.33 0.36

Where business combinations under common control occurred in the current period the net profit achieved by the acquirees before

the combinations was RMB0.00 with the amount for the same period of last year being RMB0.00.Legal representative: Liu Zibin The Company’s chief accountant: Zhang Keming

The Company’s financial manager: Zhang Keming

3. Consolidated Cash Flow Statement for Q1~Q3

Unit: RMB

Item Q1~Q3 2024 Q1~Q3 2023

1. Cash flows from operating activities:

Proceeds from sale of commodities and rendering of services 4251014998.10 4082732904.05

Tax and levy rebates 57422844.69 111908970.46

Cash generated from other operating activities 29608862.84 88268626.57

Subtotal of cash generated from operating activities 4338046705.63 4282910501.08

Payments for commodities and services 2151945125.00 2671747269.74

Cash paid to and for employees 1182637679.97 1220030753.31

Taxes and levies paid 119631645.66 98333908.79

Cash used in other operating activities 122745389.12 132141141.93

Subtotal of cash used in operating activities 3576959839.75 4122253073.77

Net cash generated from/used in operating activities 761086865.88 160657427.31

2. Cash flows from investing activities:

Proceeds from disinvestment 838061000.00 2435012962.14

Return on investment 1876891.21 28169612.15

Net proceeds from the disposal of fixed assets intangible

802833.705799244.29

assets and other long-lived assets

Net proceeds from the disposal of subsidiaries and other

business units

Cash generated from other investing activities 50112179.51 85031721.32

Subtotal of cash generated from investing activities 890852904.42 2554013539.90

Payments for the acquisition of fixed assets intangible assets

189186030.98544637761.00

and other long-lived assets

Payments for investments 969027200.56 2947560711.64

Cash used in other investing activities 207384616.83 18025985.58

Subtotal of cash used in investing activities 1365597848.37 3510224458.22

Net cash generated from/used in investing activities -474744943.95 -956210918.32

9Lu Thai Textile Co. Ltd. Third Quarterly Report 2024

3. Cash flows from financing activities:

Capital contributions received

Including: Capital contributions by non-controlling interests

to subsidiaries

Borrowings received 1672923316.54 998315156.40

Cash generated from other financing activities

Subtotal of cash generated from financing activities 1672923316.54 998315156.40

Repayment of borrowings 1270645412.09 955264496.55

Interest and dividends paid 159435799.79 107775332.89

Including: Dividends paid by subsidiaries to non-controlling

interests

Cash used in other financing activities 50525547.88 111329581.84

Subtotal of cash used in financing activities 1480606759.76 1174369411.28

Net cash generated from/used in financing activities 192316556.78 -176054254.88

4. Effect of foreign exchange rates changes on cash and cash

-2816130.5011527014.35

equivalents

5. Net increase in cash and cash equivalents 475842348.21 -960080731.54

Add: Cash and cash equivalents beginning of the period 1353615305.93 1822897270.16

6. Cash and cash equivalents end of the period 1829457654.14 862816538.62

(II) Adjustments to Financial Statement Items at the Beginning of the Year of the First Implementation of

the New Accounting Standards Implemented since 2024

□ Applicable □ Not applicable

(III) Independent Auditor’s Report

Indicate by tick mark whether the financial statements above have been audited by an independent auditor.□Yes □ No

These financial statements have not been audited by such an auditor.Board of Director

Lu Thai Textile Co. Ltd.

31 October 2024

10