The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
Securities Code: 001202
Securities Abbreviation: Jushen Co., Ltd.
Announcement Number: 2021-027
I. Transaction Overview
Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company" or "Jushen Co., Ltd.") has signed an "Investment Cooperation Agreement" with individuals Liu Guiwen and Li Lin to jointly invest in the establishment of Guangzhou Jushen Logistics Co., Ltd. (hereinafter referred to as "the Target Company") on June 10, 2021. The registered capital of the Target Company is RMB 30 million, with the Company contributing RMB 21 million in cash, holding 70% of the equity. Due to a lack of consensus on the operational philosophy and methods of the Target Company, Liu Guiwen and Li Lin intend to exit the Target Company, and the Company plans to acquire the equity held by Liu Guiwen and Li Lin. The Company held its 27th meeting of the second board of directors on June 28, 2021, where it reviewed and approved the proposal regarding the acquisition of minority shareholder equity in the controlling subsidiary, agreeing to acquire the equity held by Liu Guiwen and Li Lin for a price of RMB 0 (corresponding to a subscribed capital contribution of RMB 9 million, with an actual contribution of RMB 0). According to the "Shenzhen Stock Exchange Listing Rules" and the "Company Articles of Association," this transaction does not require submission for shareholder approval. This transaction does not constitute a related party transaction and does not qualify as a major asset restructuring as defined by the "Measures for the Administration of Major Asset Restructuring of Listed Companies."