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: 2024-016
Special Reminder:
- To maintain company value and shareholder rights, Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") intends to use its own funds to repurchase shares through centralized bidding. The total amount for this repurchase will not be less than RMB 30 million (inclusive) and not exceed RMB 50 million (inclusive). The repurchase price will not exceed RMB 15.00 per share (inclusive). Based on the upper limit of the repurchase amount, the estimated number of shares to be repurchased is approximately 3.333 million shares, accounting for about 2.59% of the currently issued total share capital of the Company. Based on the lower limit of the repurchase amount, the estimated number of shares to be repurchased is 2 million shares, accounting for about 1.55% of the currently issued total share capital of the Company. The specific repurchase amount and number of shares will be based on the actual funds used and the number of shares repurchased upon completion. The implementation period for the repurchase of shares is within three months from the date of the board's approval of this repurchase plan.
- As of the date of this announcement, the Company's directors, supervisors, senior management, actual controllers, and their concerted actors have no plans for share reduction. If there are plans for share increases or reductions in the future, the Company will fulfill its information disclosure obligations in a timely manner according to relevant regulations.
- Related risk reminders:
(1) There is a risk that the repurchase plan may not be smoothly implemented or can only be partially implemented due to the Company's stock price continuously exceeding the disclosed upper limit during the repurchase period.
(2) There is a risk that significant events affecting the Company's stock trading price may occur during the repurchase period, necessitating changes or termination of the repurchase plan according to relevant rules.
(3) The repurchased shares are intended to be sold according to relevant regulations. If the intended use changes due to relevant circumstances, there is a risk of changing the intended use.
(4) If new regulatory documents regarding repurchases are issued by regulatory authorities, there is a risk that the terms of the repurchase may need to be adjusted according to new regulations during the implementation process.
The Company will strive to promote the smooth implementation of this repurchase and will implement the repurchase based on market conditions within the repurchase period, fulfilling information disclosure obligations in a timely manner according to the progress of the repurchase of shares. This repurchase will not have a significant impact on the Company's operations, finances, or future development, nor will it affect the Company's listing status. Investors are advised to pay attention to investment risks.
On February 7, 2024, the Company held the 20th meeting of the third board of directors, which reviewed and approved the relevant proposals for the share repurchase. The relevant situation is announced as follows:
I. Purpose of the Share Repurchase
In light of the recent significant fluctuations in the Company's stock price, and based on confidence in the Company's future sustainable development and a reasonable judgment of its long-term value, the Company has decided to repurchase its shares using its own funds to effectively maintain the interests of shareholders, enhance investor confidence, and promote the healthy and sustainable development of the Company. The purpose of this share repurchase is necessary to maintain the Company’s value and shareholder rights. All repurchased shares will be sold through centralized bidding twelve months after the Company discloses the results of the repurchase and the changes in share capital. If the Company fails to implement the aforementioned purpose within 36 months after the completion of the share repurchase, the unutilized portion will be canceled after fulfilling relevant procedures.