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Jushi Successfully Celebrates 30th Anniversary of Its Founding

On March 18th, 2023, the celebration marking the 30th anniversary of Jushi was successfully held in Tongxiang, China. Representatives of domestic and foreign customers, suppliers, shareholders, investors, financial institutions, and friends from media attended the celebration.

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At the event, Jushi’s President Zhang Yuqiang expressed gratitude to the stakeholders who always care about and support Jushi’s growth. He also shared Jushi's experience in the 30 years’ development. Government leaders, and representatives of customers and suppliers gave congratulations to Jushi and expressed their expectation for Jushi's future growth.

Through 30 years of unremitting efforts, Jushi has taken in a number of remarkable achievements: The total assets grow at a CAGR over 25%; the annual output of glass fiber rises at a CAGR over 23%; the CAGR for operating revenue exceeds 23%; the CAGR for total profit exceeds 27%; and the annual income of employees per capita has a CAGR of over 12%.

Over the past 30 years, Jushi has gone through a series of major events:

-     We relocated ourselves in the Tongxiang Economic Development Zone of Zhejiang province and launched the 3.18 Project to build a brand new fiberglass production line, representing our embarking on a new journey of growth.

-     We carried out the mixed ownership reform that integrated the strength of central enterprises with the vitality of private companies. The reform helped boost our competitiveness and create value and wealth for society and shareholders.

-     We built three production bases respectively in the east, middle and west part of China, laying a solid foundation for the following global expansion; we relocated our premises a second time in Tongxiang and hence rose to the top of the world's fiberglass industry;   

-     We pursued global expansion by establishing production bases in Egypt and the United States, promoting the high-quality building of the Belt and Road as well as the domestic and international circulations; and

-     We commit to intelligent manufacturing, build "future factories", set a high-standard benchmark, and lead the high-quality development of the industry.

Over the past 30 years, Jushi keeps striving for technology innovation. We are an industry leader in E-glass fiber production, fiber drawing technology with tank furnaces, sizing formulation, bushing fabrication, and glass mineral powder processing, among others; we offer best service and products, optimize structure and quality, and provide superior solutions for our customers; we actively work hand in hand with suppliers, seek common development, and jointly build a community across the industrial chains; we share development fruits among all our employees, foster rich Jushi culture, and continuously inspire Jushi people and make them feel happy and proud; and we make donations and actively engage in poverty alleviation and rural revitalization programs. In a word, we make progress consistently with our employees, partners and communities in the last 30 years.

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