The company and all members of the board guarantee that the information disclosed is true, accurate, and complete, without false records, misleading statements, or significant omissions.
Securities Code: 001202
Securities Abbreviation: Jushen Co., Ltd.
Announcement Number: 2024-011
Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") announces the estimated guarantee amount for its wholly-owned subsidiaries for the year 2024.
Special Reminder: This guarantee is for the Company to provide an estimated guarantee amount not exceeding 3 billion yuan for its wholly-owned subsidiaries within the consolidated financial statements, namely Guangdong Jushen Storage Co., Ltd. (hereinafter referred to as "Jushen Storage") and Qinzhou Jushen International Logistics Co., Ltd. (hereinafter referred to as "Qinzhou Jushen"). This amount accounts for 431.22% of the Company's latest audited net assets. Given the large estimated guarantee amount and its high proportion of the Company's latest audited net assets, investors are advised to pay attention to investment risks.
1. Overview of the Guarantee Situation
To meet the operational needs of its subsidiaries and improve operational and decision-making efficiency, the Company estimates that in 2024, it will provide guarantees for Jushen Storage and Qinzhou Jushen to apply for designated delivery warehouse qualifications for futures commodities from the Shanghai Futures Exchange (hereinafter referred to as "SHFE"), Guangzhou Futures Exchange, Zhengzhou Commodity Exchange, and Dalian Commodity Exchange (including new guarantees and expansion of previously approved warehouse capacity). The estimated guarantee amount will not exceed 3 billion yuan, and the guarantee method will include joint liability guarantees, etc. (subject to the final signed guarantee documents).
The validity period of this external guarantee is from the date of approval by the shareholders' meeting until the date of the next shareholders' meeting, which will review the estimated external guarantee amount for the following year. If the duration of a single guarantee exceeds the validity period of the guarantee resolution, the validity period of the guarantee resolution will automatically extend until the termination of the single guarantee. The amount guaranteed for each subsidiary will be allocated within the above limit based on actual circumstances, and the relevant guarantee matters will be finalized based on the signed guarantee documents. At the same time, the shareholders' meeting is requested to authorize the Company's management to sign relevant legal documents based on the actual occurrence of the guarantees.
On February 2, 2024, the 19th meeting of the third board of directors of the Company approved the proposal on the estimated guarantee amount for wholly-owned subsidiaries for 2024 with 7 votes in favor, 0 votes against, and 0 abstentions. This guarantee matter still requires approval from the shareholders' meeting.
2. Estimated Guarantee Amount
| Guarantee Provider | Guaranteed Party | Shareholding Ratio | Guaranteed Party's Latest Asset-Liability Ratio | Guarantee Balance | New Guarantee Amount | Guarantee Amount as a Percentage of the Company's Latest Audited Net Assets | Related Guarantee |
|---|---|---|---|---|---|---|---|
| Company | Jushen Storage | 100% | 63.35% | 50,483,672.19 | 300,000,000.00 | 431.22% | No |
| Company | Qinzhou Jushen | 100% | 24.14% | - | - | No |
Note: As of January 31, 2024, the guarantee balance is 50,483,672.19 yuan (excluding guarantees provided for Jushen Storage's application for designated delivery warehouse qualifications).