Minsheng Securities Co., Ltd. (hereinafter referred to as "Minsheng Securities" or "Sponsor") is the ongoing supervising sponsor for Guangdong Jushen Logistics Co., Ltd. (hereinafter referred to as "Jushen" or "Company"). In accordance with the relevant laws and regulations, including the "Regulatory Guidelines for Listed Companies No. 2 - Management and Use of Fundraising" and the "Self-Regulatory Guidelines for Listed Companies No. 1 - Standard Operations for Main Board Listed Companies," Minsheng Securities has conducted a prudent review of Jushen's adjustment of part of the fundraising projects and the proposed new fundraising projects. The review opinions are as follows:
I. Overview of the Adjustment of Fundraising Projects
(1) Basic Situation of Fundraising
According to the China Securities Regulatory Commission's approval of Guangdong Jushen Logistics Co., Ltd.'s initial public offering (Approval No. [2021] 1117), the company publicly issued 32,242,000 ordinary shares (A shares) at a par value of RMB 1.00 per share, with an issuance price of RMB 15.09 per share. The total amount raised was RMB 486,531,800, with net proceeds of RMB 433,059,700 after deducting issuance costs of RMB 53,472,100. The funds were fully received on April 23, 2021, and verified by Tianjian Certified Public Accountants (Special General Partnership), which issued the verification report on the same date. The company has stored the fundraising funds in a dedicated account and signed a tripartite supervision agreement with the dedicated account bank and sponsor. As of the date of this announcement, the company has strictly complied with relevant regulations regarding the storage, use, and management of the fundraising funds.
(2) Status of Fundraising Investment Projects
As of July 31, 2024, the usage of the funds raised from the company's initial public offering is as follows:
| No. | Fundraising Investment Project | Amount Invested | Amount Used as of July 31, 2024 | Remaining Unused Funds |
|---|---|---|---|---|
| 1 | Jushen Zhudong Land Port Project | 15,390.16 | 14,539.90 | 850.26 |
| 2 | Qinzhou Port Logistics Park Project | 5,777.71 | 5,733.28 | 44.43 |
| 3 | Supply Chain Management IT Upgrade Project | 3,637.09 | 487.64 | 3,149.45 |
| 4 | Supplement Working Capital | 7,566.46 | 7,566.46 | 0.00 |
| 5 | Permanent Supplement Working Capital - Qinzhou Port Logistics Park Project | 3,934.55 | 3,934.55 | 0.00 |
| 6 | Jushen Bulk Commodity Logistics Warehouse Center Project | 7,000.00 | 4,818.21 | 2,181.79 |
| Total | 43,305.97 | 37,080.04 | 6,225.93 |
Note 1: As of July 31, 2024, the remaining unused funds amount to RMB 76,414,700 (including accumulated bank deposit interest minus bank fees), of which RMB 36,414,700 is stored in the dedicated fundraising account, and RMB 40,000,000 is temporarily used to supplement working capital.
Note 2: The remaining unused funds for the Supply Chain Management IT Upgrade Project amount to RMB 31,494,500, which has generated interest of RMB 1,045,900, totaling RMB 32,540,400.