1. Overview of External Investment
Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") approved the proposal for external investment at the 17th meeting of the third board of directors and the fourth extraordinary general meeting of shareholders in 2023. The Company will establish a wholly-owned subsidiary, Gongyi Jushen Supply Chain Service Co., Ltd. (provisional name, subject to final approval by the industrial and commercial department), in Gongyi City, Henan Province, with a registered capital of 50 million RMB. The Company will sign the "Investment Agreement for the Jushen Gongyi Project" (hereinafter referred to as "the Investment Agreement") with the Gongyi Municipal Government to invest in the construction of the Jushen Gongyi Commodity Trading and Delivery Center project, with the newly established Gongyi Jushen Supply Chain Service Co., Ltd. serving as the project company to undertake the rights and obligations under the Investment Agreement. The total investment for the project is estimated at 250 million RMB (including land acquisition costs), and the project will include three main functional areas: a non-ferrous metal storage area, a loading and unloading operation and logistics service area, and a commercial service and office area. The funding will come from the Company's own funds or self-raised funds. For specific details regarding this external investment, please refer to the announcement disclosed by the Company on December 13, 2023, in "China Securities Journal," "Securities Times," "Securities Daily," "Shanghai Securities Journal," and on the Giant Tide Information Network (http://www.cninfo.com.cn). This transaction does not constitute a related party transaction and does not constitute a major asset reorganization as defined by the "Administrative Measures for Major Asset Restructuring of Listed Companies."
2. Progress
The Company officially signed the "Investment Agreement for the Jushen Gongyi Commodity Trading and Delivery Center Project" with the Gongyi Municipal Government on February 5, 2024.
3. Basic Information of the Counterparty
- Name: Gongyi Municipal Government
- Institution Type: Local Government
- Address: No. 18, Zhengtong Road, Gongyi City
4. Performance Capability Analysis
The Gongyi Municipal Government is a national agency with sufficient performance capability. According to the "Shenzhen Stock Exchange Stock Listing Rules" and other laws and regulations, the Gongyi Municipal Government is not a related party of the Company, and there is no relationship between the two parties. This investment does not constitute a related party transaction.
5. Main Content of the Investment Agreement
- Party A: Gongyi Municipal Government
- Party B: Guangdong Jushen Logistics Co., Ltd.
Based on the relevant laws and regulations of the People's Republic of China, both parties have reached a consensus on the matters related to Party B's investment in the construction of the Jushen Gongyi Commodity Trading and Delivery Center project in Gongyi City, based on friendly consultation and the principles of equality, mutual benefit, and voluntariness, and hereby sign this agreement.