Jayud Global Logistics to effect 1-for-50 reverse stock split

Jayud Global Logistics (JYD) resolved to effect a reverse share split of the Company’s ordinary shares, with the split ratio set at 1-for-50 and an increase of authorized share capital. The board approved the Reverse Share Split and the Increase of Authorized Share Capital of directors of the Company on September 9. The Company’s Class A ordinary shares will begin trading on an adjusted basis, reflecting the Reverse Share Split, on October 13,, under the existing ticker symbol “JYD.” The new CUSIP number for the Company’s Class A ordinary shares will be G5084H111. Upon the effectiveness of the Reverse Share Split and the Increase of Authorized Share Capital, every fifty shares of the Company’s issued and outstanding Class A ordinary shares as of the effective date will automatically be combined into one Class A ordinary share. The Company’s authorized share capital will change to $2,500,000 divided into 500,000,000 shares of par value $0.005 each, comprising 480,000,000 Class A ordinary shares of par value $0.005 each and 20,000,000 Class B ordinary shares of par value $0.005 each. Currently, there are 136,693,439 ordinary shares outstanding, consisting of 131,283,839 Class A ordinary shares and 5,409,600 Class B ordinary shares. Upon the effectiveness of the Reverse Share Split, there will be approximately 2,733,869 ordinary shares outstanding, consisting of 2,625,677 Class A ordinary shares and 108,192 Class B ordinary shares.