Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") and all members of the Board of Directors guarantee that the information disclosed is true, accurate, and complete, without any false records, misleading statements, or significant omissions.
Securities Code: 001202
Securities Abbreviation: Jushen Co., Ltd.
Announcement Number: 2024-064
Overview of Guarantees
Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "the Company") has a wholly-owned subsidiary, Guangdong Jushen Warehousing Co., Ltd. (hereinafter referred to as "Jushen Warehousing"), which previously applied to the Zhengzhou Commodity Exchange for qualification as a designated delivery warehouse for cotton yarn, with a minimum guaranteed storage capacity of 50,000 tons. The warehouse is located at No. 8 Jintai Road, Danzhao Logistics Center, Nanhai District, Foshan City, Guangdong Province. On July 10, 2024, the Company issued a guarantee letter for the aforementioned matter. For specific details, please refer to the announcement disclosed by the Company on July 11, 2024, in the "China Securities Journal," "Securities Times," "Securities Daily," and on the Giant Tide Information Network (http://www.cninfo.com.cn) titled "Progress Announcement on Guarantees for Wholly-Owned Subsidiaries in 2024."
Progress of Guarantees
On August 5, 2024, according to the relevant announcement on the Zhengzhou Commodity Exchange's official website, it was decided to add Jushen Warehousing as a designated delivery warehouse for cotton yarn. On the same day, Jushen Warehousing signed the "Designated Delivery Warehouse Agreement for Cotton Yarn with Zhengzhou Commodity Exchange" (hereinafter referred to as "the Main Agreement") to guarantee a storage capacity of no less than 50,000 tons for futures delivery of cotton yarn. Additionally, the Company, Jushen Warehousing, and Zhengzhou Commodity Exchange signed the "Guarantee Contract for Designated Delivery Warehouse for Cotton Yarn." According to the Main Agreement, the minimum guaranteed storage capacity for the designated delivery warehouse for cotton yarn futures is 50,000 tons, calculated at 19,730 RMB/ton (this price is the closing price of cotton yarn futures CY409 on August 2, 2024, published on the Zhengzhou Commodity Exchange website), with an estimated guarantee amount of 99 million RMB, within the approved guarantee limit of 10 billion RMB from the third extraordinary general meeting of shareholders in 2024.
Main Contents of the Guarantee Contract
Party A: Zhengzhou Commodity Exchange
Party B: Guangdong Jushen Warehousing Co., Ltd.
Party C: Guangdong Jushen Logistics Co., Ltd.