001202SZSE

Announcement on the Progress of a Subsidiary's Investment in Establishing a Joint Venture

Jushen Co., Ltd.·October 8, 2023

✨ AI Summary

Guangdong Jushen Logistics Co., Ltd. approved a proposal for its wholly-owned subsidiary, Singapore Qinhan Shipping Pte. Ltd., to establish a joint venture with ONEW GLOBAL PTE. LTD. in Singapore. The registered capital of the joint venture, Jiayue International Logistics Pte. Limited, is $2 million, with Qinhan Shipping holding 51% and ONEW holding 49%. The registration has been completed as of October 9, 2023.

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Full Translation

AI Translation· azure_openai

1. Overview of External Investment

Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") held the 15th meeting of the 3rd Board of Directors on August 28, 2023, and approved the proposal regarding the external investment for establishing a joint venture. The wholly-owned subsidiary, Singapore Qinhan Shipping Pte. Ltd. (hereinafter referred to as "Qinhan Shipping"), signed an Investment Cooperation Agreement with ONEW GLOBAL PTE. LTD. to jointly invest in establishing Jiayue International Logistics Pte. Limited (hereinafter referred to as "the Target Company") in Singapore. The registered capital of the Target Company is $2 million, w

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