Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") and all members of the board guarantee that the information disclosed is true, accurate, and complete, with no false records, misleading statements, or significant omissions.
Securities Code: 001202
Securities Abbreviation: Jushen Co., Ltd.
Announcement Number: 2024-053
Special Reminder:
After this adjustment of the expected guarantee limit, Guangdong Jushen Logistics Co., Ltd. will provide guarantees for its wholly-owned subsidiaries, Guangdong Jushen Warehousing Co., Ltd. (hereinafter referred to as "Jushen Warehousing") and Guangxi Qinzhou Free Trade Port Area Jushen International Logistics Co., Ltd. (hereinafter referred to as "Qinzhou Jushen"), with an expected limit not exceeding 10 billion yuan. Given that the expected amount of the above guarantee limit is relatively large and accounts for a high proportion of the Company's most recent audited net assets, investors are advised to pay attention to investment risks.
1. Overview of Guarantees
Due to the recent significant price increases in copper, aluminum, zinc, tin, and other non-ferrous metals, the Company has increased the corresponding guarantee limits for its subsidiaries' applications for futures delivery warehouse qualifications. Additionally, some of the guarantees previously issued for the subsidiaries' applications for futures delivery warehouse qualifications are about to expire. To ensure the smooth continuation of related business and further meet the actual needs of the Company’s development in futures delivery designated warehouse-related business, the Company intends to further adjust the expected guarantee limit for 2024 for Guangdong Jushen Warehousing Co., Ltd. and Guangxi Qinzhou Free Trade Port Area Jushen International Logistics Co., Ltd. to provide guarantees for applications to the Shanghai Futures Exchange (hereinafter referred to as "SHFE"), Guangzhou Futures Exchange, Zhengzhou Commodity Exchange, and Dalian Commodity Exchange for futures commodity designated delivery warehouse qualifications (including new warehouse capacity guarantees, original approved warehouse capacity expansion guarantees, and guarantees for the renewal of cooperation agreements). The guarantee limit will be adjusted from not exceeding 6 billion yuan to not exceeding 10 billion yuan, with the guarantee method being joint liability guarantees, etc. (subject to the final signed guarantee documents).
The validity period of this new external guarantee will be from the date of approval by the shareholders' meeting until the date of the next shareholders' meeting that reviews the expected external guarantee limit 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 subject to the final 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.
2. Guarantee Limit Estimate
Unit: Ten Thousand Yuan
| Guarantor | Guaranteed Party | Guarantor's Shareholding Ratio | Guaranteed Party's Latest Asset-Liability Ratio | As of May 30, 2024 Guarantee Balance | New Guarantee Limit | Proportion of New Guarantee Limit to Company's Latest Audited Net Assets | Related Guarantee |
|---|---|---|---|---|---|---|---|
| Company | Jushen Warehousing | 100% | 61.39% | 50,483.7 | 400,000.00 | 541.52% | No |
| Company | Qinzhou Jushen | 100% | 18.84% | - | - | - | No |