Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") guarantees 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: 2023-041
On July 14, 2023, the Company held the 13th meeting of the third board of directors and the 11th meeting of the third supervisory board, where it reviewed and approved the proposal on adjusting the proposed investment of raised funds for certain projects and adding new investment projects. The board agreed to reduce the proposed investment of 70 million RMB in the initial public offering project "Jushen East Land Port Project" to fund the construction of the new investment project "Jushen Bulk Commodity Logistics Storage Center Project," which will be implemented by the Company's wholly-owned subsidiary, Guangxi Qinzhou Free Trade Port Area Jushen International Logistics Co., Ltd. This new investment project does not constitute a related party transaction and is subject to approval by the Company's shareholders' meeting. The specific circumstances are announced as follows:
I. Overview of Adjustments to Fund Investment Projects
(1) Basic Situation of Raised Funds
According to the approval from the China Securities Regulatory Commission on the initial public offering of Guangdong Jushen Logistics Co., Ltd. (Zheng Jian Xu Ke [2021] No. 1117), the Company publicly issued 32,242,000 ordinary shares (A shares) at a par value of 1.00 RMB per share, with an issue price of 15.09 RMB/share. The total amount raised was 486,531,800 RMB, with net proceeds of 433,059,700 RMB after deducting issuance costs of 53,472,100 RMB. The raised funds were fully received on April 23, 2021, and verified by Tianjian Accounting Firm (Special General Partnership), which issued the verification report on the same date. The Company has stored the raised funds in a special account and signed a tripartite supervision agreement with the special account bank and the sponsor institution. As of the date of this announcement, the Company has strictly followed relevant regulations for the storage, use, and management of the raised funds and has fulfilled related obligations.
(2) Situation of Fund Investment Projects
The raised funds from the initial public offering, after deducting issuance costs, were used for the following projects:
| No. | Project Name | Total Investment Amount | Amount of Raised Funds Invested |
|---|---|---|---|
| 1 | Jushen East Land Port Project | 299,873,066.68 RMB | 223,901,600.00 RMB |
| 2 | Qinzhou Port Logistics Park Project | 130,076,952.89 RMB | 97,122,600.00 RMB |
| 3 | Supply Chain Management Information Upgrade Project | 48,711,800.00 RMB | 36,370,900.00 RMB |
| 4 | Supplement Working Capital | 101,338,180.43 RMB | 75,664,591.90 RMB |
| Total | 580,000,000.00 RMB | 433,059,691.90 RMB |
(3) Usage of Raised Funds
As of June 30, 2023, the usage of raised funds from the initial public offering is as follows: