Report on the Sponsorship Work for the Initial Public Offering of A-Shares by Minsheng Securities Co., Ltd.
1. Statement
Minsheng Securities Co., Ltd. (hereinafter referred to as "the Sponsoring Institution" or "Minsheng Securities") and the designated sponsoring representative responsible for this securities issuance project have prepared this report in good faith, diligently, and responsibly, in accordance with the Company Law, Securities Law, and relevant regulations of the China Securities Regulatory Commission (CSRC). This report guarantees the authenticity, accuracy, and completeness of the information provided. As the sponsoring institution for the initial public offering of stocks by Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Issuer," "Jushen," or "the Company"), Minsheng Securities has conducted a thorough investigation and internal review in accordance with the "Administrative Measures for Sponsorship of Securities Issuance and Listing" (CSRC Order No. 63), "Guidelines for the Content and Format of Information Disclosure by Companies Issuing Securities No. 27 - Sponsorship Letters and Sponsorship Work Reports" (CSRC Announcement [2009] No. 4), "Guidelines for Work Papers of Sponsorship Business for Securities Issuance and Listing" (CSRC Announcement [2009] No. 5), "Opinions on Further Strengthening the Supervision of Sponsorship Business" (CSRC Announcement [2012] No. 4), and other relevant laws and regulations, as well as recognized industry standards and ethical norms. This report presents the relevant circumstances of the securities issuance sponsorship work to your esteemed organization. (Unless otherwise specified in this report, terms used herein have the same meanings as those in the "Prospectus for the Initial Public Offering of Stocks by Guangdong Jushen Logistics Co., Ltd.")
2. Project Operation Process
1. Internal Project Review Process of Minsheng Securities
In accordance with the requirements of the CSRC, Minsheng Securities Co., Ltd. (hereinafter referred to as "Minsheng Securities" or "the Sponsoring Institution") has established a comprehensive internal review procedure and strictly implemented it during the operation of the sponsorship project. The review of the project by Minsheng Securities is mainly divided into project initiation review and internal review before formal project declaration. The specific review process is as follows:
(1) Project Initiation Procedure
According to the current "Management Measures for Project Initiation of Investment Banking Business of Minsheng Securities Co., Ltd.," Minsheng Securities has established an Investment Banking Project Initiation Review Committee to review and decide whether to initiate sponsorship projects. The committee consists of several members, including a convener, and members from various departments such as the Investment Banking Division, Quality Control Department, Risk Management Headquarters, and Internal Review Committee Office. Each project initiation meeting must have at least five committee members present for review, including at least one member from the Quality Control Department, and a total of at least two members from the Quality Control Department or Risk Management Headquarters and Internal Review Committee Office. A resolution to approve the project initiation can only be made with the consent of at least four attending committee members.
- Business Department Application
If the project team believes the project meets the formal initiation application conditions based on preliminary due diligence, it should prepare a project initiation application report and submit it to the Investment Banking Business Management and Quality Control Department (hereinafter referred to as "Management and Quality Control Department") after obtaining approval from the head of the business department. The project initiation application report includes, but is not limited to, the following contents: basic project information; an overview of the industry in which the company operates and its position and main advantages in the industry; the company's profit model; the company's main accounting policies and financial status over the past three years; the intended use of raised funds; major issues identified during preliminary investigations and potential risks; preliminary solutions to relevant issues; and a preliminary judgment on the feasibility of the project.