Prospectus for Initial Public Offering of Shares

Guangdong Jushen Logistics Company Limited

Prospectus for Initial Public Offering of Shares

Sponsor (Lead Underwriter): Minsheng Securities Co., Ltd.
Address: Room 2101, 2104A, Block B, 1168 Century Avenue, China (Shanghai) Pilot Free Trade Zone
Date: April 2021

Issuance Overview

• Type of Shares Issued: Domestic RMB ordinary shares (A shares)
• Number of Shares Issued: 32,242,000 shares, not less than 25% of the total share capital after issuance.
• Source of Shares: New shares issued by the company, no transfer of existing shares.
• Par Value per Share: 1.00 RMB
• Issue Price per Share: 15.09 RMB
• Issue Date: April 19, 2021
• Proposed Listing Exchange: Shenzhen Stock Exchange
• Total Share Capital after Issuance: 128,800,000 shares

Lock-up Commitments by Shareholders

(1) Commitment by Controlling Shareholder and Actual Controller Lei Qi

1. Within 36 months from the date of listing, I will not transfer or entrust others to manage the shares I directly or indirectly hold prior to the IPO, nor will the company repurchase those shares.
2. If I reduce my holdings within two years after the lock-up period, the reduction price will not be lower than the issue price at the time of the IPO (adjustments will be made according to relevant regulations if there are changes due to cash dividends, stock bonuses, capital increases, etc.).
3. If the closing price of the company's shares is lower than the issue price for 20 consecutive trading days within six months after listing, or if the closing price at the end of six months is lower than the issue price, the lock-up period will be automatically extended by six months.
4. After the lock-up period, during my tenure as a director, supervisor, or senior management, I will not transfer more than 25% of my total shares held each year; I will not transfer shares within six months after leaving the company.
5. I will faithfully fulfill the above commitments and bear corresponding legal responsibilities. If I fail to fulfill these obligations, I will bear any losses incurred by the company or other shareholders.
6. During my tenure, I will report the number of shares I hold and any changes in accordance with relevant laws and regulations.

(2) Commitment by Shareholder Lei Gaochao

1. Within 36 months from the date of listing, I will not transfer or entrust others to manage the shares I directly or indirectly hold prior to the IPO, nor will the company repurchase those shares.
2. If I reduce my holdings within two years after the lock-up period, the reduction price will not be lower than the issue price at the time of the IPO.
3. If the closing price of the company's shares is lower than the issue price for 20 consecutive trading days within six months after listing, or if the closing price at the end of six months is lower than the issue price, the lock-up period will be automatically extended by six months.
4. I will faithfully fulfill the above commitments and bear corresponding legal responsibilities.

(3) Commitment by Shareholders Foshan Xinlong (Limited Partnership) and Foshan Shengmao (Limited Partnership)

1. The enterprise will not transfer or entrust others to manage the shares received from the controlling shareholder and its related parties for 36 months from the date of listing.
2. The enterprise will strictly comply with laws and regulations regarding shareholder holdings and share changes.
3. If the enterprise violates the above commitments, any income from the sale of shares will unconditionally belong to the company.

(4) Commitment by Shareholder Ningbo Haiyi (Limited Partnership)

1. Within 12 months from the date of listing, the enterprise will not transfer or entrust others to manage the 2,660,000 shares obtained before the IPO.
2. The enterprise will not transfer or entrust others to manage the 3,000,000 shares received from the controlling shareholder for 36 months from the date of listing.
3. The enterprise will strictly comply with laws and regulations regarding shareholder holdings and share changes.