- Overview of the Guarantee
Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") held its 32nd meeting of the second board of directors on December 8, 2021, where it approved the proposal to provide a guarantee for its wholly-owned subsidiary, Guangdong Jushen Storage Co., Ltd. (hereinafter referred to as "Jushen Storage"). The Company agreed to assume all responsibilities related to the storage, custody, delivery, and other operations of stainless steel futures as stipulated in the "Cooperation Agreement between Shanghai Futures Exchange and Delivery Warehouse" (hereinafter referred to as "the Cooperation Agreement"), and to bear an irrevocable full joint guarantee liability. The guarantee period is for the duration of the Cooperation Agreement and two years from its expiration. This guarantee matter was approved at the Company's seventh extraordinary general meeting of shareholders in 2021. For detailed information, please refer to the announcement published by the Co
001202SZSE
Progress Announcement on Providing Guarantee for Wholly-Owned Subsidiary's Application for Delivery Warehouse Qualification
✨ AI Summary
Guangdong Jushen Logistics Co., Ltd. has provided an irrevocable full joint guarantee for its wholly-owned subsidiary, Jushen Storage Co., Ltd., to apply for delivery warehouse qualification. The Shanghai Futures Exchange approved the warehouse's qualification on July 14, 2022, with a capacity of 36,000 tons. The guarantee is effective for the duration of the cooperation agreement and two years thereafter.
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