001202SZSE

Announcement on Establishing Wholly-Owned Subsidiaries through External Investment

Jushen Co., Ltd.·April 14, 2022

✨ AI Summary

Guangdong Jushen Logistics Co., Ltd. plans to establish two wholly-owned subsidiaries in Guangxi and Liaoning using its own funds. The board approved this investment on April 13, 2022, without requiring shareholder approval. The subsidiaries aim to enhance the company's competitiveness and service capabilities in the South and Northeast regions of China.

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Full Translation

AI Translation· azure_openai

Guangdong Jushen Logistics Co., Ltd. Announcement on Establishing Wholly-Owned Subsidiaries through External Investment

I. Overview of External Investment

Basic Information on External Investment
The company intends to use its own funds to establish wholly-owned subsidiaries in Jingxi City, Baise, Guangxi Zhuang Autonomous Region, and Bayuquan District, Yingkou City, Liaoning Province, named Jingxi Jushen Logistics Co., Ltd. (provisional name, subject to business registration) and Yingkou Jushen Logistics Co., Ltd. (provisional name, subject to business registration).
On April 13, 2022, the company held the 34th meeting of the second board of directors, which approved the proposal on establishing wholly-owned subsidiaries through external investment. According to the company's articles of association, this external investment falls within the authority of the board of directors and does not require submission to the shareholders' meeting for approval.
This transaction does not constitute a related party transaction and does not qualify as a major asset restructuring as defined by the Administrative Measures for Major Asset Restructuring of Listed Companies.

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