Core Viewpoint - The company, Jushen Co., Ltd., is focusing on enhancing its logistics and warehousing capabilities while also planning to issue convertible bonds to support its growth strategy [3][9]. Group 1: Stock and Shareholder Changes - As of May 30, 2025, the number of shareholders decreased to 10,300, a reduction of 2,221 or 17.79% since March 31 [2][10]. - The average number of shares held per shareholder increased from 10,300 to 12,500, with an average holding value of 201,400 yuan [2]. Group 2: Company Operations and Strategy - The company operates 13 subsidiaries nationwide, providing diverse transportation solutions for efficient goods handling and rapid transport connections [3]. - Jushen Co., Ltd. has been approved for 10 futures delivery warehouse qualifications, enhancing its credibility in the bulk commodity logistics sector [7]. - The company is actively pursuing a "going out" strategy by planning to build ships for overseas transport operations [6][11]. Group 3: Financial and Investment Activities - The company plans to issue convertible bonds totaling no more than 380 million yuan to support its operations [3][9]. - The 2024 annual equity distribution plan includes a capital reserve increase of 3 shares for every 10 shares held, totaling approximately 37,891,110 shares, with no cash dividends [12]. Group 4: Business Growth and Market Demand - The growth in the company's warehousing business revenue in 2024 is attributed to capturing market demand for warehousing services [8]. - The company emphasizes shareholder returns and has outlined a three-year shareholder return plan for 2025-2027 [5].

Group 1: Company Structure and Operations - The company has established 13 subsidiaries across the country, facilitating efficient goods handling and rapid transportation connections through a dual layout in commodity production and consumption areas [3]. - The AGV forklifts are primarily used for the loading and unloading of cotton yarn, utilizing preset paths and intelligent navigation technology for internal movement and transportation [3]. Group 2: Financial and Investor Relations - The company disclosed its plan for issuing convertible bonds on April 30, 2025, and will continue to fulfill information disclosure obligations as per legal regulations [3]. - In 2025, the company has actively strengthened investor relations by organizing multiple investor communication activities, aiming to build effective communication bridges with investors [3]. - The company has released a three-year shareholder return plan (2025-2027) on April 30, 2025, focusing on establishing a scientific, sustainable, and stable dividend decision-making and supervision mechanism [3].