CHINA TAISAN TECH. GROUP HOLDINGS LTD. Recognising Opportunities
ANNUAL REPORT 2015
Corporate Profile
Chairman & CEO Statement
4 Operations and Financial Review
6 Risk Management Policies and Processes
10 Board of Directors
Key Management
Corporate Governance
36 Financial Statement
90 Statistics of Shareholdings
92 Notice of AGM Proxy Form
Corporate Information
CHAIRMAN & CEO STATEMENT
OPERATIONS AND FINANCIAL REVIEW
RISK MANAGEMENT POLICIES AND PROCESSES
BOARD OF DIRECTORS
KEY MANAGEMENT
China Taisan Technology Group Holdings Limited is one of the leading producers of knitted performance fabrics in the PRC. It is engaged in the knitting, dyeing and finishing of fabrics under its own "Lianjie" (连捷) brand as well as the provision of fabric-processing services.
It is one of the few approved suppliers of performance fabrics used in the manufacture of sportswear and casual wear for reputable international and domestic brands including the likes of Nike, Adidas, Umbro, CK, Li-Ning (李 宁), Anta (安踏), Metersbonwe (美特斯邦威), 361、Qiaodan China(乔丹中国) and Semir(森马).
Our Chief Executive Officer and co-founder, Mr. Lin Wen Chang, is a Taiwanese and has more than 20 years' experience in the textile industry. Key positions in factory management and sales & marketing are also mostly occupied by Taiwanese. Our product R&D is staffed by a strong team of
12 R&D personnel, who are mostly Taiwanese with more than 10 over years of experience in textile industry. As Taiwan is a global leader in textile-manufacturing technology using synthetic fibre, China Taisan is able to leverage on this strong Taiwanese connection to maintain its technological edge over other PRC competitors.
The Group's production facility is strategically located in Jinjiang City, Fujian Province, otherwise known as the Sports Hub of the PRC - giving us
access to the entire production chain for sports and leisure apparel in the PRC. It is therefore able to respond more quickly to customers' demands and develop long lasting relationships with many of its local customers such as Anta and 361.
The facility has a built-up area of about 37,586 sqm and is installed with equipment incorporating advanced technologies from France, Germany, Japan and Taiwan. The facility is fully integrated and is able to support the whole fabric production process from knitting and dyeing to finishing. With an annual production capacity of about 27,650 tonnes, China Taisan is one of the largest producers of performance fabrics in the PRC.
As a testament to our product quality, our products are able to conform to international standards such as AATTC, ASTM, DIN, BSI and JIS. We are also one of the few to become certified as Öko-Tex Standard
100 compliant since 2005. We are accredited by the CICC Conformity Assessment Services Co., Ltd (中国检验认证集团质量认证有限公司)
with ISO9001:2000 and ISO14001:2004. In
September 2008, our subsidiary, Jinjiang Lianjie, has been awarded the title of "Fabrics China Sportswear Fabrics Pioneer Plant" ("国家运动服装
面料开发基地") under The Fabrics China Project,
which was initiated by China Textiles Development Center（中国纺织工业协会）and China Textile Information Center（国家纺织产品开发中心）in
1999.
CHINA TAISAN TECHNOLOGY GROUP ANNUAL REPORT 2015 1
CORPORATE PROFILE
CHAIRMAN & CEO STATEMENTOPERATIONS AND FINANCIAL REVIEW
RISK MANAGEMENT POLICIES AND PROCESSES
BOARD OF DIRECTORS
KEY MANAGEMENT
We are looking seriously into how to redirect our resources to improve the Group's performance into the future.
Non-executive Chairman
On behalf of the Board, we are pleased to present to you the annual report of the Group for the financial year ended 31 December 2015 ("FY2015").
Year in Review
Due to the slow recovery of global economic and the industry becoming much more competitive. This has affected the Group's performance especially in the economy of scale of our operations.
The revenue of about RMB752.0 million, decreased by 5.8% from the RMB798.0 million in FY2014. The decrease in revenue mainly resulted from the decrease in the sale of performance fabrics in FY2015 by 24.8% from 11,406tonnes in FY2014 to 8,577tonnes
in FY2015.
The Group made a net loss of RMB369.4 million which mainly due to written off of VAT and trade receivable amounting to RMB110 million and RMB72.8 million respectively and impairment of property, plant and equipment amounting to RMB105 million.
We are looking seriously into how to redirect our resources to improve the Group's performance into the future.
Forging Ahead
The Group's business performance for FY2015 showed an unsatisfactory result in the face of the economy downturn in the PRC and one for one replacement due to products not specified for customers' demands. As one of the largest performance fabric manufacturers in China,
2 CHINA TAISAN TECHNOLOGY GROUP ANNUAL REPORT 2015
China Taisan Technology Group Holdings Ltd. issued this content on 08 April 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 10 April 2016 12:49:17 UTC
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