Minsheng Securities Co., Ltd. (hereinafter referred to as "Minsheng Securities" or "Sponsor") is the sponsor for the initial public offering and listing of Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "Jushen Co." or "Company"). In accordance with relevant regulations including the "Administrative Measures for Securities Issuance and Listing Sponsorship Business," the "Self-Regulatory Guidelines for Listed Companies on the Shenzhen Stock Exchange No. 1 - Standardized Operations of Main Board Listed Companies," the "Shenzhen Stock Exchange Listing Rules," and the "Regulatory Guidelines for Listed Companies No. 2 - Regulatory Requirements for the Management and Use of Raised Funds," Minsheng Securities conducted a prudent verification of the storage and use of raised funds by Jushen Co. for the first half of 2024. The verification results are as follows:
1. Basic Information on Raised Funds
(1) Actual Amount of Raised Funds and Time of Receipt
According to the China Securities Regulatory Commission's approval document (Zheng Jian Xu Ke [2021] No. 1117), the company publicly issued 32,242,000 shares of RMB ordinary shares (A shares) at a price of RMB 15.09 per share, with a total raised amount of RMB 486.53 million. After deducting issuance expenses of RMB 53.47 million, the net amount raised was RMB 433.06 million. The raised funds were fully received on April 23, 2021, and the receipt was verified by Tianjian Accounting Firm (Special General Partnership), which issued the verification report Tianjian Yan Zi [2021] No. 7-33 on April 23, 2021.
(2) Use and Balance of Raised Funds for the First Half of 2024
As of June 30, 2024, the company's use of raised funds and current balance are as follows:
| Item | Amount (10,000 RMB) |
|---|---|
| Net amount of raised funds (A) | 43,305.97 |
| Cumulative amount used as of the beginning of the period (B1) | 34,490.30 |
| Interest income (B2) | 1,404.53 |
| Amount used during the period (C1) | 2,473.02 |
| Interest income during the period (C2) | 11.01 |
| Cumulative amount used as of the end of the period (D1=B1+C1) | 36,963.33 |
| Cumulative interest income as of the end of the period (D2=B2+C2) | 1,415.54 |
| Expected balance of raised funds (E=A-D1+D2) | 7,758.18 |
| Actual balance of raised funds (F) | 5,758.18 |
| Difference (G=E-F) | 2,000.00 |
Note: 1. The data may have rounding differences. 2. The difference between the expected balance and the actual balance is due to the company using temporarily idle raised funds to supplement working capital totaling RMB 20 million.
2. Management and Storage of Raised Funds
(1) Management of Raised Funds
To standardize the use and management of raised funds, improve the efficiency of fund utilization, and protect the legitimate rights and interests of investors, the company has formulated the "Management System for Raised Funds" in accordance with the "Company Law of the People's Republic of China," the "Securities Law of the People's Republic of China," the "Shenzhen Stock Exchange Listing Rules," and the company's articles of association. According to the "Management System for Raised Funds," the company implements special account storage for raised funds, establishing special accounts in banks, and has signed a "Tripartite Supervision Agreement" with Minsheng Securities and the branches of Guangfa Bank, Bank of China, China Minsheng Bank, and Guangdong Nanhai Rural Commercial Bank, clarifying the rights and obligations of all parties. The tripartite supervision agreement does not differ significantly from the model agreement of the Shenzhen Stock Exchange, and the company has strictly complied with it when using raised funds. As of June 30, 2024, the storage and use of raised funds by the company have been executed in accordance with the "Management System for Raised Funds."