Minsheng Securities Co., Ltd. (hereinafter referred to as "Minsheng Securities" or "the Sponsor") is the ongoing supervisory sponsor for Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "Jushen" or "the Company"). In accordance with the relevant laws and regulations, including the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds" and the "Self-Regulatory Guidelines for Listed Companies No. 1 - Standard Operations for Main Board Listed Companies" issued by the Shenzhen Stock Exchange, Minsheng Securities has conducted a review of the delay in certain fundraising projects of Jushen. The review opinions are as follows:
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Basic Situation of Raised Funds According to the China Securities Regulatory Commission's approval of the initial public offering of stocks by Guangdong Jushen Logistics Co., Ltd. (Approval No. [2021] 1117), the Company publicly issued 32,242,000 shares of RMB ordinary shares (A shares) with a par value of RMB 1.00 per share at an issuance price of RMB 15.09 per share. The total amount raised was RMB 486,531,800, with net proceeds of RMB 433,059,700 after deducting issuance costs of RMB 53,472,100. The raised funds were fully received on April 23, 2021, and the receipt of funds has been verified by Tianjian Accounting Firm (Special General Partnership), which issued the verification report on April 23, 2021. The Company has stored the raised funds in a special account and signed a "Tripartite Supervision Agreement on Raised Funds" with the special account bank and the sponsor. As of the date of this review opinion, the Company has strictly complied with relevant regulations in storing, using, and managing the raised funds and has fulfilled its related obligations.
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Progress of Fundraising Investment Projects As of January 31, 2023, the usage of the funds raised from the Company's initial public offering is detailed in the table below: