Minsheng Securities Co., Ltd. Verification Opinion on Guangdong Jushen Logistics Co., Ltd. Using Raised Funds to Replace Pre-Invested Project Funds and Self-Funded Issuance Expenses Minsheng Securities Co., Ltd. (hereinafter referred to as "Minsheng Securities" or "Sponsor") is the sponsor for the initial public offering and listing of Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "Jushen" or "Company"). In accordance with the requirements of relevant laws, regulations, and normative documents such as the "Administrative Measures for the Sponsorship of Securities Issuance and Listing," "Shenzhen Stock Exchange Stock Listing Rules," "Shenzhen Stock Exchange Guidelines for the Standardized Operation of Listed Companies," and "Regulatory Guidelines No. 2 for Listed Companies - Regulatory Requirements for the Management and Use of Raised Funds," as well as the actual investment situation of Jushen's raised funds investment projects, a thorough and prudent verification has been conducted regarding Jushen's use of raised funds to replace self-funded amounts that were pre-invested in the fundraising projects and paid issuance expenses. The specific situation is as follows:
I. Basic Situation of Raised Funds
According to the approval from the China Securities Regulatory Commission on the "Approval of Guangdong Jushen Logistics Co., Ltd.'s Initial Public Offering of Stocks" (Zheng Jian Xu Ke [2021] No. 1117) and the consent from the Shenzhen Stock Exchange, the Company publicly issued 32,242,000 shares of RMB ordinary shares (A shares) at an issuance price of RMB 15.09 per share. The total amount of raised funds from this issuance was RMB 486,531,800, and after deducting issuance expenses of RMB 53,472,100, the net amount of raised funds was RMB 433,059,700.