Minsheng Securities Co., Ltd. (hereinafter referred to as "Minsheng Securities" or "Sponsor") acted as the sponsor for Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "Jushen Co." or "Company") during its initial public offering and continuous supervision on the Shenzhen Stock Exchange. In accordance with relevant laws and regulations, including the "Regulations on the Management of Sponsorship for Securities Issuance and Listing," the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Fundraising," and the "Shenzhen Stock Exchange Listing Rules," Minsheng Securities conducted a verification of Jushen Co.'s fundraising storage and usage for 2023. The verification results are as follows:
I. Basic Situation of Fundraising
(1) Actual Amount Raised and Fund Arrival Time
According to the China Securities Regulatory Commission's approval (Zheng Jian Xu Ke [2021] No. 1117), the company publicly issued 32,242,000 shares of RMB ordinary stock (A shares) at an issuance price of RMB 15.09 per share, raising a total of RMB 486,531,780.00. After deducting underwriting and sponsorship fees of RMB 31,902,358.49, the net amount raised was RMB 454,629,421.51, which was transferred to the company's fundraising supervision account by Minsheng Securities on April 23, 2021. After deducting additional external costs directly related to the issuance of equity securities, totaling RMB 21,569,729.61, the net amount of funds raised was RMB 433,059,691.90. The above fundraising amount has been verified by Tianjian Certified Public Accountants (Special General Partnership), which issued a "Verification Report" (Tianjian Yan [2021] No. 7-33).
(2) Amount of Fund Usage and Current Balance
As of December 31, 2023, the company's fundraising usage and current balance are as follows:
| Project | Amount (10,000 RMB) |
|---|---|
| Net amount raised (A) | 43,305.97 |
| Cumulative amount used (B1) | 25,705.86 |
| Interest income (B2) | 1,184.39 |
| Current period usage (C1) | 8,784.44 |
| Current period interest income (C2) | 220.14 |
| Cumulative amount used (D1=B1+C1) | 34,490.30 |
| Cumulative interest income (D2=B2+C2) | 1,404.53 |
| Expected remaining funds (E=A-D1+D2) | 10,220.20 |
| Actual remaining funds (F) | 4,020.20 |
| Difference (G=E-F) | 6,200.00 |
Note: The difference between expected remaining funds and actual remaining funds is due to the company's temporary use of idle fundraising for working capital totaling RMB 62 million.
II. Fundraising Storage and Management
(1) Fundraising Management
To standardize the use and management of the company's fundraising and improve the efficiency of fund usage while protecting the legitimate rights and interests of investors, the company formulated the "Fundraising Management System" in accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," and the "Shenzhen Stock Exchange Listing Rules." According to the "Fundraising Management System," the company implements dedicated account storage for fundraising, establishing dedicated fundraising accounts in banks, and signing a "Tripartite Supervision Agreement" with Minsheng Securities and various banks, clarifying the rights and obligations of all parties. The tripartite supervision agreement does not differ significantly from the Shenzhen Stock Exchange's tripartite supervision agreement template, and the company has strictly adhered to it when using the fundraising.
As of December 31, 2023, the company's fundraising storage and usage have complied with the company's "Fundraising Management System."
(2) Fundraising Dedicated Account Storage
As of December 31, 2023, the company has a total of 6 fundraising dedicated accounts, with the following storage situation: